GeneralCartmanLee 313 Posted June 6, 2011 Share Posted June 6, 2011 the stuff int his thread about ticketus is straight from a celtic blog, these guys have no shame.... Link to post Share on other sites More sharing options...
RM Monitor And Standards Officer 112,878 Posted June 6, 2011 Share Posted June 6, 2011 I'd fancy that like most us BD is as unsure and non-committal as the rest of us on the subject.Craig Whyte is the one than can supply the clarity and information that we need to move forward. I'm still awaiting him doing that but hope we'll have something to go on later today from PLUS.Thanks Frankie. Whats the chances of this appearing today? Link to post Share on other sites More sharing options...
TheLawMan 6,240 Posted June 6, 2011 Share Posted June 6, 2011 I'd fancy that like most us BD is as unsure and non-committal as the rest of us on the subject.Craig Whyte is the one than can supply the clarity and information that we need to move forward. I'm still awaiting him doing that but hope we'll have something to go on later today from PLUS.And i hope he is right on this one Frankie Link to post Share on other sites More sharing options...
MARK92GERS 854 Posted June 6, 2011 Share Posted June 6, 2011 whats the news anything announced yet ? Link to post Share on other sites More sharing options...
Frankie 505 Posted June 6, 2011 Share Posted June 6, 2011 Thanks Frankie. Whats the chances of this appearing today?Your guess is as good as mine mate. Fingers crossed.As said previously, I don't think there will be a huge amount of specific information in it but I am hoping it will offer viable explanations for what is currently happening as well as planning for the future.Thereafter, we'll just have to wait until the fan groups get their chance to cross-examine Whyte - as well as the club AGM later in the year. Link to post Share on other sites More sharing options...
spangles 7 Posted June 6, 2011 Author Share Posted June 6, 2011 so let me sum this up in laymans terms. rangers used to have season book money used as collateral against our loans with lloyds. some of that has been released most likley because the loan is repaid. securities are still in place to cover overdrafts etc. this is standard business practice. yahoos are still desperate.Not according to our former owner.The former Ibrox chairman firmly denied reports that the bank is insisting on using ticket sales revenue to pay down any of the club's debt."There's no truth to the bank wanting to ring fence the season ticket money," he said. Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 6, 2011 Share Posted June 6, 2011 Not according to our former owner.The former Ibrox chairman firmly denied reports that the bank is insisting on using ticket sales revenue to pay down any of the club's debt."There's no truth to the bank wanting to ring fence the season ticket money," he said.collateral is different to paying down. very different. Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 6, 2011 Share Posted June 6, 2011 the stuff int his thread about ticketus is straight from a celtic blog, these guys have no shame....we used tiketus last year. as far as i can make out. probably to get the money for jelavic because lloyds wouldnt provide it. though i have no evidence on that. Link to post Share on other sites More sharing options...
ogbg 20 Posted June 6, 2011 Share Posted June 6, 2011 we used tiketus last year. as far as i can make out. probably to get the money for jelavic because lloyds wouldnt provide it. though i have no evidence on that.What is Ticketus? Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 6, 2011 Share Posted June 6, 2011 What is Ticketus?they lend you money short term and get it back from your ticket sales. Link to post Share on other sites More sharing options...
ogbg 20 Posted June 6, 2011 Share Posted June 6, 2011 they lend you money short term and get it back from your ticket sales.cheers Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 6, 2011 Share Posted June 6, 2011 cheerswe used them for the first time last year as I understand it. what for and how much seems to be information we don't have. Link to post Share on other sites More sharing options...
ogbg 20 Posted June 6, 2011 Share Posted June 6, 2011 I just had a look there at that "rangerstaxcase" website. It seems like this MG05s form is the latest story on there, but the "expert" who writes on it appears to have fucked up! He originally claims that the form is saying that we have freed our season ticket money from the creditors and proceeds to fabricate some elaborate route from there to administration, but then he adds a correction saying that he fucked up and it actually means the opposite. It's weird for such a so-called expert to completely misunderstand this form when novices can clearly interpret its meaning just by reading it. Unless, of course, said expert is in fact nothing more than a bitter tim with a calculator. Link to post Share on other sites More sharing options...
spangles 7 Posted June 6, 2011 Author Share Posted June 6, 2011 collateral is different to paying down. very different.So what would have been the prior to this doc surfacing, usage of the said season ticket revenues, as they appear now to be a released asset, and what will be their future usage or asset value applied to. In laymans terms of course, since they appear to have been a confined or guaranty asset previously, despite Minty's view to the contrary. Link to post Share on other sites More sharing options...
Johnson 27 Posted June 6, 2011 Share Posted June 6, 2011 What is Ticketus?A finance company that advances you cash mortgaged against future season ticket sales.They've had dealings with Watford, Man Utd, Burnley, Hull and Plymouth.See: www.ticketus.co.ukThey are part of the Octopus Investments group.The lawyers they use are Clarke Wilmott, of Bristol.On a side note, I reckon the wording of the document is obtuse and has been misinterpreted.The season tickets are the released assets.The rest of the floating charge was "assigned" from Lloyds to Wavetower when the takeover went through.The club's statement at the time confirmed this.This allows Craig Whyte to retain secured creditor status.If anyone can think of another reason why 100,000 season tickets have been released, let me know.As far as I can work out, Ticketus are the only guys in the market who deal in this sort of thing. Link to post Share on other sites More sharing options...
caseyjones 3,009 Posted June 6, 2011 Share Posted June 6, 2011 What is Ticketus?Think Cash Converters. Link to post Share on other sites More sharing options...
ogbg 20 Posted June 6, 2011 Share Posted June 6, 2011 The season tickets are the released/b] assets.Where do you get that from? The document says all assests are released apart from the season tickets. Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 6, 2011 Share Posted June 6, 2011 I just had a look there at that "rangerstaxcase" website. It seems like this MG05s form is the latest story on there, but the "expert" who writes on it appears to have fucked up! He originally claims that the form is saying that we have freed our season ticket money from the creditors and proceeds to fabricate some elaborate route from there to administration, but then he adds a correction saying that he fucked up and it actually means the opposite. It's weird for such a so-called expert to completely misunderstand this form when novices can clearly interpret its meaning just by reading it. Unless, of course, said expert is in fact nothing more than a bitter tim with a calculator.just a bunch of obsessed taigs taking stabs in the dark mate. Link to post Share on other sites More sharing options...
spangles 7 Posted June 6, 2011 Author Share Posted June 6, 2011 Where do you get that from? The document says all assests are released apart from the season tickets.No, it specifically states the season tickets are the released partial assets, more interestingly....it appears Phil Betts has signed off as the creditor or acting for the creditor,,,http://forum.rangersmedia.co.uk/index.php?showtopic=186365 Link to post Share on other sites More sharing options...
Dennis 1,011 Posted June 6, 2011 Share Posted June 6, 2011 There's a few taigs on this thread making stuff up as well. Link to post Share on other sites More sharing options...
GeneralCartmanLee 313 Posted June 6, 2011 Share Posted June 6, 2011 we used them for the first time last year as I understand it. what for and how much seems to be information we don't have. Link to post Share on other sites More sharing options...
ogbg 20 Posted June 6, 2011 Share Posted June 6, 2011 No, it specifically states the season tickets are the released partial assets, more interestingly....it appears Phil Betts has signed off as the creditor or acting for the creditor,,,http://forum.rangersmedia.co.uk/index.php?showtopic=186365Yeah, I thought that was Phil Betts's signature (see my earlier post on here). But, as I read it, it states in the box titled "Short particulars of the property, etc. which has been released from the charge" that all assest have been released except for the "released assets". However, thinking about it some more, it does seem a bit strange that they would call those assets that are excluded from release the "released assests", so maybe it is just worded in a very odd way and you are correct. Link to post Share on other sites More sharing options...
Craigie79 67 Posted June 6, 2011 Share Posted June 6, 2011 Yeah, I thought that was Phil Betts's signature (see my earlier post on here). But, as I read it, it states in the box titled "Short particulars of the property, etc. which has been released from the charge" that all assest have been released except for the "released assets". However, thinking about it some more, it does seem a bit strange that they would call those assets that are excluded from release the "released assests", so maybe it is just worded in a very odd way and you are correct.I think your initial thought is the right thought. Released assets to me is what it says it is. ie assets(empty seats each worth 20 odd quid a pop) that we own that over the course of the season get sold to the customers with the cash getting released to us.Craig Whyte's autograph is on the form as well so there is the creditors name on the form as well as somebody who is employed/acts for him Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 6, 2011 Share Posted June 6, 2011 you have evidence to the contrary. Link to post Share on other sites More sharing options...
GeneralCartmanLee 313 Posted June 6, 2011 Share Posted June 6, 2011 Evidence to disprove something you made up...how is that possible.... I was laughing at your journo speak more than anything else..... Link to post Share on other sites More sharing options...
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