On the face of it, it’s just too crazy. Why would Craig Whyte become a director of Sevco 5088 Ltd, the vehicle his collaborator and Our New Hero, Charles Green, would use to buy the assets of Rangers from the administrators?
What options did he have?
He was, is, and for the foreseeable future, will be… the only show in town.
Whyte had controlling shares in Rangers and a security over Ibrox and other assets, as well as personal guarantees to Ticketus. If he wanted to realise the value of these assets, and protect himself from the consequences the Ticketus action which materialised this week, he was probably the only man at Ibrox last year you could guarantee would not, walk away.
Either Whyte had to find a 100% secure proxy to carry out his actions or he needed controlling interest in Sevco 5088, and Whyte is not a man who strikes me as having many strong trust bonds out there.
The Companies House form which STV produced (again, credit where it’s due) was always going to be fatal to Whyte’s plans, if produced, but it would have been no more than an insurance policy against Our New Hero going rogue.
The form hitting Companies House is not the moment you become a director in a company, that happens as soon as an offer is made and accepted. The company is obliged to inform Companies House within a short period (lazy journalism moment, I can’t be bothered looking it up), but failure to do so only incurs a small penalty fine.
Whyte and Earley were controlling directors and, in case Green reneged on their agreement, they would have documentary evidence to prove it. If Green had performed on demand, they may never have had to produce the document.
A number of possibilities could explain the fact that Green transferred the assets of Sevco 5088 to Sevco Scotland:
He thought that Whyte would be reluctant to incriminate himself further and would simple go away.
He thought he could transform the business and compensate Whyte with the proceeds.
He is simply not smart enough to know how these things operate.
Or he may have a subsequent agreement with Whyte terminating his involvement with Sevco 5088, although this contradicts his evidence to STV cameras earlier this week.
The weeks ahead are likely to be so busy it will be hard to retain focus on the critical path. Green has known for some days that he would have to go and replace himself with someone he can sell as a ‘true Rangers man’ to the most gullible people to walk on hind legs before season ticket renewal time, but even that date will seem a long way off.
Whyte will not budge until and unless his money is covered. We’re talking £18m to Ticketus and no doubt some more for his trouble. In playing the Sevco 5088 director registration form, his Doomsday Card, he has invalidated Newco’s associate membership of the SFA. He has called into question the fair and open disposal of assets by Duff and Phelps and the entire administration process. He even stayed quiet until Green flushed out a fair amount of supporter cash.
Some of the least trustworthy looking people in history, assisted by a supporting cast who were willing to bat away all concerns and warnings for a crumb or two from their table, have trashed every last inch of what we used to know as Rangers Football Club. This was not the act of Green, Whyte and Sir David Murray alone, many authors wrote this story.
On any measure of humanity, the monkeys, the organ grinders, the cheerleaders and their flunkies screwed the Rangers fan in the street to a ridiculous degree.
The next actions are for the stock market and some technically minded police officers as they try to figure out the Great Football Swindle.
At this side of the city we’ve been warning about exactly this link since Green told everyone Craig Whyte was happy to walk away for £2. It was astonishingly stupid for anyone to believe that. Really, really, really stupid. The most stupid thing a whole bunch of stupid people has ever done.
Ever.
Just stupid.
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any white smoke at murray park?
There is a part of me would like to see Hibs win the cup.
111 Years without it.
They’ve knocked out Hearts, Aberdeen and Kilmarnock.
They’ve looked up for this cup from the first round.
AND
it would be great for the game as a whole.
A second season where the three trophies are won by three different teams.
So much for Armageddon
meeting still going,
KLV
An injured Ian Brines is like a new signing.
At George Sq 20 mins ago when i saw a few Hibs fans: one group was obv mum, dad & kid. “Do you know its now 3-2? ” says me. “Aye” says mummy hib. I get to Queen St Station & a huge roar goes up in the pub, clearly all hibbees that had left early, & were planning to head home to Ed!
Whit a support! Shameful
Ref change.
Brines injured.
Tripped over his Giro
…….for Hibs
Brines substituted for extra time
Ffs… never happens to us
Brines subbed
Brines to embarrassed to come out for the extra time??
I remember a time at Hamdump when I was only a wee bhoy and
my Auld Mhan took me away from the place – thinking that we were
about to lose a penalty shoot-out v’s the huns when….up stepped
wee Jinky and…well…ye know the rest :)
It was great going back in to join the party at the Cellic though :)
The – walk on – was spine tingling btw !
HH
Brines aff injured..fell on his own truncheon
Betting men, Will Green be sacked, will Tiger be disqualified. What odds for both.
Who is the MIB Tomorrow?
Doubt Chuck will go now, if he was for the off the meeting would have been shorter. Something else must be in the wind. Curious Kev?
KLV
should read – …..party at the Cellic end though :)
Typo
sorry
.foxy_1888
14:25 on 13 April, 2013
any white smoke at murray park?
..
Plenty of Whyte Blokes at Murray/Whyte Park..
Summa of DyslexiaCSC
Dannygal
Corkcelt
NO CHANCE of Tiger being disqualified. Any other player……
Hebcet
Emailed houlyerweesht.
Hail Hail
Estadio
Two points
1 Never leave before the end of a game
2 This is arguably the biggest game of the season, so far, for both these clubs and the stadium is half empty. Don’t say live TV is not killing football!
S Pliss
No his apron??
tiger admitted he dropped the ball at wrong place. he has to go unless the tv companies rule otherwise.
Giriffiths should have had at least 4 or 5 goals this afternoon.
He hasn’t half missed some sitters.
From RM
board meeting latest.
No news yet on outcome
Meeting did break up as per earlier post. Went back into session. Now broken up again. Finally.
————-
I cant see them being able to oust Chuck today without him agreeing to go
Brines’s eyesight, is alot worse than his ankle…….shirley
Hun meeting apparently just ended. No Statement about anything yet made.
Minty Park Bored Meeting
Yeah leftclicktic, thats my thoughts, also he’s too erratic to go quietly.
KLV
Dannygall
reminds me of our support when aberdeen scored their third in the recent 4:3sammy the saviour victory..ball flys into the net and dozens start to vacate the stadium..had some young italian students next to me in the north stand ..they looked bewildered at that moment..they stayed to the last seconds with the rest of the faithfull and were in ecstasy when sammy scored the winner..dont understand some people
rumour starting time.
brines feings injury at hamdump so he can get to ipox intime for kick off.
Tiger DELIBERATELY dropped his ball in the wrong place to improve the chances of his approach shot. It will be a total joke if he is not disqualified.
Golf joins the list of corrupt sports.
BBC…………..Commentator ‘ball comes off the outside of Hibs players head’
Hmmm CSC
Hibs a different team after Thompson’s substitution.
Harris looks like a Celtic player. Clever, pacy,intelligent and composed.
Pogma….
No way they would have left if they couldn’t watch it in the pub
Underground @celticrumours 16m Does this not suggest that the middle 8 could be really competitive?
Pogmathonyahun aka Laird of the Smiles
14:31 on 13 April, 2013
____________________________________________
Totally agree M8
Desmond White was the Celtic chairman when we played
Nottingham Forest in the UEFA Cup in 1983 and, with the
1st leg of the tie sitting at 0-0 after our draw at the City Ground
White was badgered by the media to allow the 2nd leg to be
transmitted on live-tv.
Desmond White said something along the lines of – “Too many
tv-cameras in the football grounds will empty stadiums. Too many
seats in the stadiums will kill the atmosphere.”
I have never liked – any – Celtic board but, DW spoke sense there.
Oh…I forgot to say – imo.
HH