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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Whens the N A due??
Corkcelt 14:37 on 13 April, 2013
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.
Money will win out – see sevco/SFA 2012…..
Thomthehim
Looks decent ….quick,direct and fairly clever
thomthethim
14:40 on 13 April, 2013
Hibs a different team after Thompson’s substitution.
Harris looks like a Celtic player. Clever, pacy,intelligent and composed.
_________________________________________________________
Agreed M8
HH
Hibs denied a good goal.
Another duff decision ….what a shower of trumpets !
The Masters is a joke competition now. 2 shot penalty for Woods. ESPN threatened to withdraw if Woods disqualified.
Kev A few guys on here saying what a grand guy you are having met you at recent demo. You are after destroying your bad boy image after years of carefully nurturing it.
jude2005 –
this is the new article, posted early last night ;-)
Shortbread decide to put the game on MW and FM so they don’t have to discuss sevco.
Joke, Woods not walking for that , Golf= bent game.
KLV
Commentators suggesting that duff decisions even themselves out …that’s not the point
What about ….there’s far too many simple mistakes in this game from poor officials
J B
Sorree Must pay attention. lol
Scottish linesman blunders in yet another high profile game
Kevjungle
bigjock said it too
bring back the jungle kev h.h
brines was seen trying to pepper spray himself so he could leave for ibroke..needs the o.t has he missed out on the kettling bonus
Looked like another honest mistake there, when Hibs “goal” was given offside.
If Woods had any decency he would have disqualified himself, speaks volumes for him and the USPGA
That mob make the SFA look good.
jude2005 is Neil Lennon \o/
14:25 on
13 April, 2013
Griffiths is a player with attitude!! I like that!
Absolutely…… terrific work rate, 100% commitment, good dead ball delivery We have some forward players at Celtic who fall short of some of his qualities
Is Woods a mason. Disgraceful decision. Hang your heads in shame. Its not only in Scotland.
How about the quote from Woods when he was told of the penalty given to the 14 year-old Chinese player; “well, rules are rules”
cant blame the linesman for that. those decisions are really hard to call
MONEY TALKS
In all sports
lion67
And he’s a one footer like that duffer Messi!!.
Hibs would have had this game wrapped up ages ago but they made one fatal mistake. They chose to play in Green and White!
Phil MacGiollaBhain @Pmacgiollabhain 1m I am sure that if anyone at Ibrox had signed contracts with uitlities as “Sevco 5088” then that’s just an Honest Mistake.
hoopy-do
Agreed. In real time, with the speed of the players, and the fact that you have to look in 2 places at once, it’s no’ that easy!
Griffiths=Riordan
jude2005 is Neil Lennon \o/
14:49 on
13 April, 2013
lion67
And he’s a one footer like that duffer Messi!!.
Leads the line on his own, it doesn’t seem to take anything away from him in fact it appears to suits his style, been a great loan signing for the hibs
Miku and Lassad…………………………………………….
independent body to look over Huns commissioned by huns?? lol u couldnt make it up
…..pfayr
Agreed
Talk about an independant commission being set up by Sevco
Sally wants to know who is on the panel
Is traynor on the Sevco board?
corkcelt
14:43 on 13 April, 2013
______________________
Are you talking to me ? (Di Nero) CSC :)
Thanks for that M8
Hopefully, as a few fholk on here have suggested
that the next time we meet – we’ll be wearing
name-tags.
I met some of the guid CQN fholk at the Demo
as you say and – they were GUID Fholk. imo
Doc and his team did a brilliant job with the banner
and there was a good throng of Celt’s underneath
the banner but, as I arrived – the speeches were
getting underway so, didny want to be ignorant and
start talking during them.
On conclusion – The Magnificent Green Brigade are
THEE most tangible effect of Celticness at the club
since the days of the – Jungle. imo
Paul67 has provided this wonderful place for kindred
Celtic souls to gather – connect – emphasize the true
ethos of OUR Beloved club. imo
HH
….PFayr
14:52 on
13 April, 2013
Griffiths=Riordan
Not as players, two different players
If the Ass couldnt see Griffiths then he wasnt off imo.
I also think Claros has had a good game.
What a goal 4-3 Hibs
Griffths for the HOOPS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!