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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more:
http://www.youtube.com/watch?v=MdDuAVcQv-o&list=PLMSjQG48-7rRGDm6v3FdQEPvXNN-HRaOT
I’m not sure about Murray still pulling the strings.
I think he is ruined, and he just wanted out. He knew the whole rotten big house was going to collapse and he needed to exit asap and hopefully put as much time between his exit and the sinkhole appearing under Ibrox.
Hence his lawyers’ delaying tactics during the BTC.
He knew fine well who he was selling to, but once the shiny pound was in his pocket he didn’t want to know. He was off, and off he will remain.
Whyte, for his part, also knew that the end was near – but he saw an opportunity to phoenix the club and bully his way into the SPL, debt-free. To be fair, it nearly worked.
Green was Whyte’s partner in all this, a buffer between him and the phoexed club. D&P were his chosen administrators for a very good reason, and under RC Ogilvie the SFA was never going to stand in his way.
But two things went wrong.
One: the fans of the other clubs wouldn’t allow such a stinking stitch up. And because the clubs are nothing without their fans (as was observed some time ago by a great man…), the phoenix started life much further down the league ladder than anticipated.
Two: Somehow, Whyte and Green fell out, a not-uncommon occurrence between spivs. The consequences of this fall out are being played out as we speak.
The upshot is this: there is no-one to “rescue” them this time.
There is no possibility of a second share issue in another phoenix company. What is left of Sevco may be butchered in court between the warring parties of Chuckie and Craigy, meaning that even if another zombie club can be patched together it might not be playing football at Ibrox – a critical commercial, psychological, and emotional factor in maintaining “Rangers” in any kind of existence.
Meanwhile “Walter” is not Murray’s man, ready to step in as if part of a plan laid out two years ago…
Walter is a scared old man, who tonight is perhaps finally realising the truth about the kind of people Murray sold out to, and who is at last realising the truth of what has happened to his club.
He will be expected to “step in”. But it s probably already too late. When even the ghost expires, there is simply no way back.
taggsybhoy
Nobody seeking fairness in Scottish football has a chance against the freemasonry clinging to those in power at ludge HQ Hampden.
bournesouprecipe
22:45 on 12 April, 2013
STV essential viewing – World Record?
NOW THAT IS AN INTERVIEW GREEN IS A DEAD MAN WALKING
FAIR PLAY TO THE YOUNG JURNO HE HAS FAIRLY GRABBED HIS CHANCE.
Paul this post has joined some of your other classics in my favourites folder
Thank you for all you do
This is going to be one of the greatest court cases
in Scottish history.
67heaven … i am neil lennon..!!.. ibrox belongs to the creditors
If that comes to pass I don’t think ill be able to stop laughing. Ever.
Italiabhoy…
I like your point about Ibrox being a psychological requirement to sustain the myth of an unbroken history…agree. Hopefully we’ll find out how they handle that…
:-)
Och I’ve missed oor wee russian pal, good to see him back..
Evil Dead 2 about to start on Film 4… How hysterically apt!!!?
For any lurking buns
ALWAYS LOOK ON THE BRIGHT SIDE OF LIFE
WAAAHHHAAAHHHAAAHAHAHAHAHAHAAAAHHHHHAAAAAAAAAA
Jcge of the wee Russian
Can we invite him to the title party
Can we also invite moisty and kenny. .. they can do gangham while we lift the trophy
This is for Sir David Murray, whilst he is still a Free man (add an s and o) if he is to get off with it, or be speculative if it is deep doo doo.
http://www.youtube.com/watch?v=vDK2svrGG_c
Paul67 et al
MIH couldn’t do it, the Bank of Scotland couldn’t do it and Lloyds Bank wouldn’t do it but the
SFA still tried to do it. Keep the Glasgow built Titanic afloat. Murray washed his hands,
sealed its fate. Some are still clinging to the wreckage, lifeboats long gone.
Read all about it!
Auldheid @ 23:07
Another great point amigo.
Has anyone ever used their own money to invest in said club and it’s zombie counterparts? Oh aye, apart from Harland & Wolfe. :))
Even Minty had to borrow £6M from the bank that tried to put us under for £1M.
The Boy Jinky
23:15 on
12 April, 2013
Meant to say I’ve pointed you’re comments on the “ding dong” to a number of non celtic fans, you’re almost a cult hero over here becuase of it…………
i just dont see this as being the end of thems..not unless the sfa enforce the rules and apply the relevant punishments..surely BDO have enough evidence and proof to halt any further newco application..and polis have gathered theirs to convict the guilty involved only when these are done will i be satisfied and many others i think..theyve wiggled and sliped from all thats been in front of them..we must keep our eye on the prize at all times to ensure any justice night bhoys h.h
This track has so much speculation about it, I will chuck in my own updated interpretation.
Minty is the Architect and Rangers were the girlfriend.
http://www.youtube.com/watch?v=j5K050GG4tE
You have to go back a long way to find a rangers man that used his own money…
oh fantastic post paul67!!!must be one of your best to compose and to read…satisfying to the end h.h
Sale and leaseback of Zombieland from our hero. Posted on huddleboard
https://docs.google.com/file/d/0B7jvHNEGwcz2ZElKY3hOTXVDTzg/view?pli=1&sle=true
starry plough
GOOOOOOOOOOOOOOOD EVENING :))
what a special time we are in
The puppet master will be a very nervous man tonight.
Along with many others.
Craig Whyte is not going to be the fall guy.
tommysbhoy
Think you’re right amigo.
It goes all the way up to the top. Too much fear kicking about with those that should be questioning it all.
We can only enjoy the huns being made mugs of on a regular basis, and make sure we share it with our grandchildren.
Shout out to
SJD
who argued his case excellently this week imo, and on top of that, dealing with direct hunnery. Absolute nightmare for anyone. KTF Sir.
Whilst Myth, Murray and Pep are having such a terrible time.
Tims are ready to Grow Bigger and Better, all over the World.
http://www.youtube.com/watch?v=NwU47132I5w
McCallum & Hooper
The first & last
On a sweatshirt in North Stand
leftclicktic
Superb I spent my innocent childhood just along the road from there and never had a thought about bigotry until many later years when I wondered why I was never allowed on the bus to school. My sister and another family on the street either, why did we have to get taxi’s when they were (schools) next to each other.
Charlie makes a statement on their site claiming the stv documents are fake
EDB
Fair play to you mi amigo, you are one of the few who really know who are pulling the strings.
They don’t like losing face, and they don’t like coming second, especially to Timmy.
What I find strange, is the lack of action, from all of scottish football, not just our club, to bring this house of cards down.
FFS, for the good of the game, this is the time for change, root them all out and start again.
Oh wait, it’s scotland, soreeee about that, was dreaming again.
Another appallingly written, grammatically questionable and apparently unchecked statement from Green.
Released at 2315 tonight.
Anyone would think he is under pressure…
FOLLOWING the publication and broadcast of misleading and inaccurate information on STV this evening, a spokesman for Charles Green said: “Mr Green is appalled by this blatant attempt to discredit him.
“These documents are not correct or valid and he did not sign Craig Whyte or his associate on as directors of Sevco 5088.
“Mr Green was the sole director of Sevco 5088 until he resigned and became the founder director of Sevco Scotland, formed by Scottish solicitors.
“If this documentation was correct then, as Sevco 5088 was formed as the initial bid vehicle, the administrators would have been negotiating a sale of the club to a company which had a director who was clearly forbidden from being involved with it.
“Furthermore, it should strike people as deeply suspicious that these documents are being filed today 11 months after they were supposedly signed and on other documents Mr Green’s home address has been mysteriously changed without his knowledge.
“Furthermore, notice was filed publicly in January this year by Field Fisher Waterhouse and is on record at Companies House company seeking to strike off the company, yet four months later directors appointments are now being supposedly filed.
“As stated previously these matters are now in the hands of lawyers who are preparing a file to be sent to Police Scotland and Mr Green cannot comment further on the details of that process. ”
I’m surprised the blog’s still up. Paul67, you using my farm? :))
Weefra HH
Sale and leaseback details actually highlighted by our own Paul67
http://www.celticquicknews.co.uk/?p=10730
celticrollercoaster,
Wow.
celticrollercoaster
20yr leaseback at £1.8m per annum :))
leftclicktic
Time is the great leveller and our time has come, onward to the game on Sunday and let’s hope the Bhoys do us proud and take us to the final if there was ever a football team that deserved to succeed it is Celtic, the beat in all of our hearts..
So, to sum up…..Spiv1 owned a failing football club and sold it to spiv2 for a pound because he didn’t want to be there when it folded.
Spiv2 ran the club into the ground and had to scarper once it crashed.
Spiv2 then arranged for spiv3 to relaunch the club as a debt-free newco.
However, spiv3 did the dirty on spiv2 who was being chased by slightly less spivvy spivs who had loaned him many millions for advanced ticket sales.
Spiv2 then exposed spiv3 for the spiv that he was and…….
….to be continued
It’s not a good day for those 500 million worldwide followers of the deid club or those multi national investors who funded the 22 million share issue.lol lol !
Think we all know that 22 million was fabricated and yeez r skint
ItaliaBhoy
CG no longer appealing to the hordes
but trying to save his own bacon.
Watchout for a quick exit from Mr G.
Bring them down