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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spirit of arthur lee
22:19 on
12 April, 2013
Trouble for ibrox club?
Andmoreagain !
New Order
Ding dong the rangers are dead……….
Pp
Its an honour yer honour. .. to share a place with soal.
Strange that the bugger swooped a first place podium and left me in second place :(
Still on such a memorable week. .. I dedicate my half of the award to be shared between green whyte and thatcher. .. for giving me so many laughs
Paul67 new article very aptly named concerning quiz :))
Cheers prestonpans, enjoyed that !
Haste Ye Back CRC :)
HH
The late night articles are always the best ones.
Stupid, stupid zombies…
The Spirit of Arthur Lee
22:21 on
12 April, 2013
Take my cat off to CRC for the real stuff because I had a few wordpad windows open and pasted the answers on each one. Man must be a genius!!
ok no takers.
it was SSW INNSBRUCK.in the european cup.ko,7.30pm.
however offer of sale still on.
My god – it really is remarkable now isnt it. Beyond my wildest dreams.
This really is the end for them – their licence must be revoked.
On the plus side Sevco’s PR man is now going
to have to have to earn his money.
‘One voice singing in the darkness’.
Uncle
Was it ssw innsbruck ,).
Beautiful to start the day with another episode in the long running saga,the clone Rangers.
After 5 years of trying,increasingly hard,to sell something,desperation sets in and the “any port in a storm” solution raises its ugly head.
Betcha Whyte was Murray`s surrogate and was fully apprised of the plan to take the club off Murray`s desperate hands, for a nice little earner,of course and a pittance compared with the debt.
Then after a “respectable” period of not being able to balance the books,the club was,amidst wailing and gnashing, to be off-loaded to the first shyster who could be persuaded to have his own piece of the moribund body.
Pass the orange parcel or Green and Whyte sh—,to quote the inimitable Mags.
It`s lovely sunny morning.
Affoot for some clean fresh air.
I don’t believe the the the ragers not playing at ipox will be a problem for
the suffrin berrs,they did say if they ‘played fitba(when did they ever) in the street’
they would be there to support thems.
I’ll buy a ticket for that game ,hopefully the ‘street ‘the M 8 at rush hour.
There is no show without Punch por cierto.
Pp
Crc uses a green market and a whyteboard …
Gordon64
22:28 on
12 April, 2013
On the plus side Sevco’s PR man is now going
to have to have to earn his money.
‘One voice singing in the darkness’.
———————————————–
Please don’t…..brings back painful memories of the Bazza concert :o(
The Boy Jinky
22:29 on
12 April, 2013
Uncle
Was it ssw innsbruck ,).
ok smart ass name all their players.
market
Prestonpans Bhoys
Well done- a couple of stinkers in there and I refuse to cheat.
Unfashionable though that is a few miles away from me!
Jimbo
bournesouprecipe
22:23 on 12 April, 2013
There is a conspiracy afoot here, that guy definitely has Whytes eyes.
The Big Hoose Must Stay Open guy will need to find himself another line to run with.
Any suggestions?
Vp
They could play between the two bridges between asda and.. the bella park.
Great vantage points
Craigy Whyte Craigy Whyte Craigy Whyte
NA NA NA NA NA NA NA NA NA NA NA
A) The man that put the ‘quid’ in liquidation
B) Forgot to pay the tax
C) And still owns the Assets
NA NA NA NA NA NA NA NA NA NA NA
Jinks
I have a dream :O)
Jimbo
Did you just call me a cheat… im calling Vincent lunnie
Uncle
Did you just call me smart ass
Hehaw hehaw hehawlways calls me that ;)
HH
It IS incredible that the collective sevcovian denial was so deep. At no point did I ever meet a sevcovian living in reality .
Deep down I think they knew they were done.. Yet as they never criticised Minty, they were doomed..
JCGE
jimbo67
22:32 on
12 April, 2013
Well CRC has my number in the future although best not to attempt it with the amount I’ve drank tonight………
Che
I heard that large fellow now stands outside krispy kreme in embra
Is Craig Whyte the first guy ever to kill off Zombies?
The SFA bent the rules and drew up a set of clauses they thought would appease and assure fans that they were doing the right thing for football.
They cannot do it to themselves. Not if they want to stay on their gravy train.
PP
At least you can count
Love
Just in and last heard any football news around 3.00 today. So has something happened then? ;-)
is it just me but are the regular Scottish sports journalists that tweet on a regular basis all missing tonight
Jobo
Thunder is forecast over Celtic Park,
With a deep depression over Govan.
Paul67
Quality as ever.
Still won’t be holding my breath that the sfa do what’s right.
I’m sorry, but can only go on past experiance, they have broken every rule to see them playing football this season, and I can not see them backing down now. would be over the moon if proven wrong, but as ever, I doubt I will be.
I posted the other night that the government would bail them out somehow if needs must, blood of our blood etc….watch this space.
Charles
Simple explanation they’re all too busy frantically trying to offload their sevco shares.
In Southpark style
“Screw you guys, I’m going to Bed ”
Love
Gazza reveals that when he played for lazio he had an audience with the pope
Can there be any more bad news for the zombies