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Bain Gets Nearly £500k Of Gers Money Frozen


Senna

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My opinion on Bain has always been that he's a snake, but it really isn't the wider issue here.

The judge seeing fit to grant this because of the insolvency risk is the worrying matter.

I'm not so sure about that.

I reckon the judge has been told exactly what the tax case could cost the club if we lose it irrespective of what might happen with it and therefore he's granted it.

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If I remember correctly...at the time of the take over Whyte or a source close to the deal came out and said bain had given himself a undeserved and unnecessary new contract and pay rise. I think he increased his wage by something along the lines of 300k p.a. I will have to do some fishing when I get in from work as I am on my phone atm. I am confident this happened though.

On another note he is a cunt.

thiss is all i can see mate http://www.eveningtimes.co.uk/news/editor-s-picks/rangers-chief-gets-165-000-pay-rise-1.1057043

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I know what you're saying, nobody is going to just walk away from that kind of money. If you feel hard done by.

What is more worrying is that the courts rule in favour of freezing our assets because of a real and substantial risk of insolvency.

Yeah this is true, its worrying that this freezing of assets doesn't seem to be a one-off thing, makes me wonder how many other creditors may appear from the background now through fear of not being paid.

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At least he hasnt got the 1.3million.

Does this basically mean this case is over and he got 450k instead of 1.3million?

No, according to STV that's just what the judge ringfenced, though Bain was claiming £1.3m. No idea how the judge arrived at that figure though.

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Putting your opinion about Bain to one side, if the guy feels he's been screwed or is owed money then he's entitled to go after it. Some people on here do not live in the real world. A judge clearly has accepted that he has a prima facie case. That's probably a more valuable assessment of what is actually going on at Ibrox just now than the speculation and mumping and moaning about the guy when we don't know half the story.

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I'm no fan of Martin Bain or what he did whilst at Rangers so I'm not defending him in any way before anyone gets all excited...

But whilst I don't know the ins and out of the case I don't believe you can just terminate an employees contract with immediate effect and little explanation and not expect there to be repercussions.

You could for gross misconduct. For pretty much everything else, you couldn't.

This is really bad for the club. Simply because other creditors will now look at the club and worry whether we will be able to pay them and may file court orders for the same treatment. (If we have other creditors, which I'm pretty sure we will have).

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