markybear 136 Posted February 22, 2012 Share Posted February 22, 2012 I can't copy and paste the document, (on iphone) if anyone else can the feel free to do so.Having read through it, imo this is what whye has done and its very much illegal according to link.http://www.ibblaw.co.uk/downloads/brochures/2010-05-27-15-06-39-financial_assistance.pdfCan we start building his gallows yet ?Ps link now works in OP Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted February 22, 2012 Share Posted February 22, 2012 Looks like Whyte has sold that page off too Quote Link to post Share on other sites More sharing options...
StudsLonniegan 9 Posted February 22, 2012 Share Posted February 22, 2012 According to the real financial people on newsnight, not the woeful sports hacks I add, they were finding it difficult to see that Whyte had done anything unlawful, morally maybe unlawful doubtful. Quote Link to post Share on other sites More sharing options...
markybear 136 Posted February 22, 2012 Author Share Posted February 22, 2012 Looks like Whyte has sold that page off too Shit, I'll try a better one Quote Link to post Share on other sites More sharing options...
markybear 136 Posted February 22, 2012 Author Share Posted February 22, 2012 http://www.ibblaw.co.uk/downloads/brochures/2010-05-27-15-06-39-financial_assistance.pdf Quote Link to post Share on other sites More sharing options...
harry handsome 629 Posted February 22, 2012 Share Posted February 22, 2012 According to the real financial people on newsnight, not the woeful sports hacks I add, they were finding it difficult to see that Whyte had done anything unlawful, morally maybe unlawful doubtful. On the face of it he has acted as I would have expected, there a certain type of animal these guys. Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted February 22, 2012 Share Posted February 22, 2012 It's possible, but is it relevant that he only paid £1 for the shares? I don't know. The link you provided talks about "acquire the company’s shares" which he did for only £1. As I said elsewhere, the solicitors on all sides will be rubbing their hands with glee... Quote Link to post Share on other sites More sharing options...
markybear 136 Posted February 22, 2012 Author Share Posted February 22, 2012 It's possible, but is it relevant that he only paid £1 for the shares? I don't know. The link you provided talks about "acquire the company’s shares" which he did for only £1. As I said elsewhere, the solicitors on all sides will be rubbing their hands with glee... Is it Not £18,000,001? Quote Link to post Share on other sites More sharing options...
harry handsome 629 Posted February 22, 2012 Share Posted February 22, 2012 I would be very surprised if this goes the distance, would you think any sane man would think it possible to pull the wool without crossing and dotting the basics. Quote Link to post Share on other sites More sharing options...
blueben_d 40 Posted February 22, 2012 Share Posted February 22, 2012 Is it Not £18,000,001?The actual price for the shares transaction is £1.The £18M debt was transferred to him which he paid with ticketus money. However if that token £1 was paid from the same account..... Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted February 22, 2012 Share Posted February 22, 2012 Is it Not £18,000,001?Prima facie it's £1 for the shares and an £18m loan. Do both get taken into the financial assistance rules? I don't know. Until that question is answered, I don't think we can know whether he has broken those rules. Quote Link to post Share on other sites More sharing options...
markybear 136 Posted February 22, 2012 Author Share Posted February 22, 2012 Prima facie it's £1 for the shares and an £18m loan. Do both get taken into the financial assistance rules? I don't know. Until that question is answered, I don't think we can know whether he has broken those rules.Fair doo's boss. Only time will tell if this is what hes done Quote Link to post Share on other sites More sharing options...
offminorthreat 1,467 Posted February 22, 2012 Share Posted February 22, 2012 FA normally only applies to the equity/shares here in Oz, not the debt. I assume UK is the same. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted February 22, 2012 Share Posted February 22, 2012 boss is right for a change. Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted February 22, 2012 Share Posted February 22, 2012 I can't see that Craig Whyte has done anything illegal in this context.He received no financial assistance from Rangers to purchase the club ... it would be a sorry situation if he needed to borrow a quid from the club to buy it. He appears to have merely reached an agreement with a third party in advance of the purchase that was dependent on the purchase going through.Whyte, it appears to me, has been monumentally stupid. No one seems to know where any money he might have has come from. I haven't seen any evidence of a business success story attributed to him. He talks of having experience of turning around distressed businesses and yet cannot seem to give a single example. Still, before this, who really cared? Now the spotlight is on him and he cannot escape it. Quote Link to post Share on other sites More sharing options...
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