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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Who wouldn’t begrudge Hibs the Cup? I would. They come to Glasgow with their strange east of Scotland ways, using strange words for everyday objects. Nothing about them makes them more deserving than Celtic.
AND IF YOU KNOW OUR HISTORY…….without them HIBEES there would be no CELTIC.
Anyone know if they went with the minute’s silence at Reading-Liverpool?
sucks leftclicktic, we moved after we had our cubs, fed up with waking up to the sash every friday,sat, sun night. shame i used to love coatbridge,
KLV
So they’re setting up an independent examination / report into greengo …….save money if they just phone Paul 67 …… LOL
“@neiljonesecho: A line of Reading stewards have moved in to prevent further congas from the #LFC fans. I never thought I’d type that sentence.”
Favourite Uncle, from earlier –
my bet on Hibs was on the 90-minutes but thanks for your best wishes ;-)
How can a brand new club have a long established policy?
GlassTwoThirdsFull
16:00 on 13 April, 2013
Anyone know if they went with the minute’s silence at Reading-Liverpool
……………..
A minute silence was held for the 96 & was impeccably upheld.
I’ve just been handed a secret tape of Chuckles in full flow confessing all to our new Hero telling him he now owns the lot and he is indeed a liar. Dinnae tell anybody and stash it in a safe place right as the storm troopers will be looking for it…
Here we go What Every Hun Wants ha ha ha!!!!
http://youtu.be/l95D7leeU3w
19LisbonBhoy67
Thanks – that’s good to hear.
Ally McCoist demands to know the names of those on the Independent Commission.
“upholding the standards expected by the club …… ”
Hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha….aaaaaa…..hahahahahahahahahahahahahahahahahahahhahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha….
Phil MacGiollaBhain @Pmacgiollabhain 17m @fjpmartin Any response from me would be entirely Speculative…
——————–
PIC
https://twitter.com/fjpmartin/status/323085439055568896/photo/1
This will enable charles to get the ST monies when he delays the outcome of any inquiry or gerrymanders the ‘independent’ commission set up by themselves ( hunbelievable ) and Fraser the Union Rep on RC agreeing totally with it, he is lickspittle ranjurs through and through and should me nowhere near a trade union.
No-one expects the Ibrox Independent Commission!
I wonder who the Grand Inquisitor will be? Let’s hope it’s Bomber.
PythonesqueCSC
Independent Commission members
Farquhar Farquarson, Murdie McPurdie and Charles Green.????!
In other news, the Yorkshire Ripper has decided to set up his own independent commission to determine if he was indeed guilty of any wrongdoing.
This Sevco commission is nothing more than a delaying tactic to buy time
Now how long is a piece of string a long as it takes for Chuck to get rid of his stake and get Third Rangers set up
leftclicktic
Is that The Addams Family?
Is Donald Findlay independent?
Wiggy to head the commission?
woow the most bent team in the world are winning, clyde goes nuts.
KLV
The Independent Commission will meet in Edinburgh. Threy will have two decisions to make “not proven” or “not guilty”.
Let them get on with it…….they are crook’s,thieve’s,
total utter scum……….the sooner they are gone
the better………if they are not gone soon they will
kill Scottish fitba.
Was it a football club board meeting or a holding company board meeting?
Possible Commission members: Findlay Campbell, Campbell Findlay, Findlay Campbell-Findlay and Billy Dodds.
Ntassoolla
Let’s dispense with the PR nonsense of Woods “owning up”.
You might be right. Taken along with the decision to penalise the 14 year old it seems at odds with the sporting integrity we here in Scotland take for granted.
You can now expect Craig Whyte to say he will have nothing to do with this kangaroo court. Commission will be left with the evidence of Chuckles on which to make a decision.
He buys time to get his hands on SB money and ride off.
airdrie and ayr fans causing bother in coatbridge by the sounds not sevco zombies.
KLV
leftclick,
‘Scuse my ignorance, but what is the significance of the picture Tweeted to Phil..
Is there someone there who shouldn’t be there?
Yep, Samaras.
thomthethim
Who is the man in the hat ?
I thought it was LNS
sorry if im wrong
In fact I hope im wrong
I thought that was Lemmy from Motorhead.
Can you wear brown brogues with denim?
Not only will they buy time for the SBs,but also to get a licence for next year.
They pull these stunts because they know that they get away with them.
Dreadfulstuff.
Paul, new article today mate? or you spent after yesterday’s?
KLV
Does this mean Chucks blackmail call on oor hero Craigy Boy is on hold a case of wait and see or dodge and duck
“Instructions recently given to lawyers in England and Scotland with a view to taking legal action to challenge these recent allegations will form part of the independent examination”
thomthethim
16:24 on 13 April, 2013
I’m assuming it’s greengo’s expression ………LOL
leftclick,
I thought it was the Bewigged One.