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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Sorry :((
follow up comment
CLEARLY PHOTOSOPPED!!!!!!!!!!!!!!!
I did not read that far SORRY
Looks Like Nimmo Smith
Cassidy @TonyCassidy123 2m
photos u20 Celtic 3 Inter 0 http://alainift.com/en/pics/picsgroups.aspx?gId=53 …
LNS
Either chuckles was able to satisfy his brothers on the board that his behaviour up until now has been above board and beyond reproach,OR, he was unable to convince them of his innocence and as a result his position is untenable, BUT, if he goes now he leaves the company dangerously exposed in any disputes with CW, AND, the uncertainty means that the income stream dries up, HOWEVER, as a temporary measure which: keeps Chuckles in the tent p1ssing out; keeps the mugs’ money coming in; allows some board members time to get their ‘what me guv? No guv!’ Stories straight; allows the company to get to the end of the season; gives board members time to find out just what the hell has been going on, an arms-length enquiry does the job!
Funny how a group of people who were so resistant to previous enquiries (FTT, SFA, LNS), appear so keen to do it themselves! Will Swally demand to know who these people are?
I would suggest Gavin Masterton, Campbell Ogilvie, Keith Jackson and David Murray, there’s very little scurrilousity that these characters wouldn’t be able to sniff out!
SFTB, beat me to it!
Looks like that pic is a photoshop.
Fraser already has sevco winning the league by 8 points next year!
The more you look at it the more it looks like a photoshop job.
lol. he must mean fifa 2013 crushed nuts,
KLV
The longer green is there the funnier for us. I’m glad he didn’t walk today.
KLV
Pics a photoshop job
Woody lee
no..a dont think so think he was a centre half and english..cant remember his name..dont want to wiki it
Snake Plissken
15:53 on 13 April, 2013
‘http://youtu.be/SLbFWivsfFE
George Galloway on Thatcher if anyone is interested.’
A minor point but he repeats the myth that Scotland was used as a guinea pig for the poll tax.
It was the Scottish Tories who asked for the poll tax to be introduced early in Scotland because they thought it would be to their advantage.
Mark hately says the independent commission is like a new signing
independent! It is rumoured our new pontiff declined a couple of days in scotland I jest.
It is really breathtaking the absolute arrogance shown when they decide once again the whats,the whys,the timing.
In my opininion the S.F.A should demand clarity,setting the agenda.with reports demanded by the day and if not shown then there licence is suspendend until they do.dont worry I am aware of CO so sfa will be done but that is part of the toxicity of them.
back to roaming
sides still sore
hail hail celts
Ernie lynch
Correct. Malcolm Rifkind once of this parish. However, the lady was the organ grinder at the time. Not likely that we will forget.
Bored Meeting Commision Latest
News has reached the CQN sports desk that Sally wants to know the names on the panel and if Craig Whyte is to be called to give evidence
Doctor Whatfor 16:46 on 13 April, 2013
Ernie lynch
Correct. Malcolm Rifkind once of this parish.
Rifkind was on CQN????????????
thindimebhoy
The only thing Sally wants to know is the whereabouts of a clue. Any clue.
Thistle Score In 89 & 90 mins to lead Airdrie 2-1
lionroar67 – Well done the under-20s! 3-0 against Inter! That was for third place wasn’t it?
Glasstwothirdsfull
Have you ever read any posts by a chap calling himself Kojo?
doctor whatfor
16:46 on 13 April, 2013
Ernie lynch
Correct. Malcolm Rifkind once of this parish. However, the lady was the organ grinder at the time. Not likely that we will forget.
———–
Was it not George Younger who petitioned the cabinet for early introduction?
No that it matters :-)
Pedantscsc
Stringer bell
I thought it was Rifkind but, I wouldn’t argue the point. You could right. I can’t tell one snake from another.
Stringer
Just checked. You’re right. Pedants still rule ok?
Partick Thistle very near to clinching the first division – great for Glasgow’s second team.
Looks like we will have derbies to look forward to next season.
Cliftonville win the league and Airdrie all but relegated.A good day all round imo.
Brilliant for the Reds, one game away from the treble
doctor whatfor
16:57 on 13 April, 2013
Stringer
Just checked. You’re right. Pedants still rule ok?
—————
I try to fight it you know. Not always successfully :-)
Anyway, Ernie would have pointed it out for sure!
I had forgotten the existence of Rifkind, Forsythe and Ian Lang until this week. Brought it all back. Shower of evil gets.
ernie lynch
Of course Scotland was used as a guinea pig. The Trafalgar Square riot, and an earlier one in Hackney occurred before the Poll Tax was introduced in England. Before! Many of the protesters that day came down from Scotland.
Well done to Cliftonville. However we have a Cup Semi Final tomorrow. My thoughts are now firmly fixed on the game and all the Sevco nonsense etc. will have to take a backseat for next 24 hours at least.
Port vale doing their best to avoid automatic promotion – drew with bottom of the league on tuesday and drew again today after going ahead in the 89th minute.
squeekybumpvfcCSC
Congratulations Cliftonville! :)
Woody Lee
16:49 on
13 April, 2013
lionroar67 – Well done the under-20s! 3-0 against Inter! That was for third place wasn’t it?
Yes despite Mark Wotte Celtic are giving young Scottish footballers the best education by a Scottish club
fritzsong @16:21agreed. Had it been a 14-year old American? Or European? Let’s remember that the USA is on the offensive against China to do something about North Korea.
Also compare Woods actions with the real integrity of Ian Woosnam in 2001.
It’s just a shame that even golf is bowing to short term considerations.
Stringer
Forsyth made my stomach turn. I’ve just discovered that he still does.
Afternoon
So , an independent commission is to be set up by Zombie FC to investigate Zombie FC. So that’s all right then.
Or as the American visitor to Fawlty Towers said ‘ What a bunch of crap’. Two years ago I’d have thought such a preposterous idea would have been laughable. I’d have thought that the country’s legal and financial authorities might have been seriously interested in such obvious dishonesty. In the aftermath of Dougiegate and being roasted alive by Paul McBride that the country’s football authorities would have taken this out of the Newco’s hands so thoroughly had their incompetence been exposed.But I’d have been dead wrong.
Green may go, Zombie FC may go bust and a whole new bunch of charlatans will emerge to ‘save’ them. Nothing will change except that a carefully managed campaign to have any SPL titles won by Celtic – or whoever- won in years in which The Zombies mark 4 were not participating to be expunged from the records.
FeelingreallyhackedoffCSC