Davey_RFC 122 Posted February 28, 2012 Share Posted February 28, 2012 Not going to get my hopes up at the moment. As a support we've been let down far too often lately. Quote Link to post Share on other sites More sharing options...
islandblue 366 Posted February 28, 2012 Share Posted February 28, 2012 Ticketus fully insured the money given to Whyte so maybe the plan all along was to shaft the insurers Quote Link to post Share on other sites More sharing options...
jack1690 793 Posted February 28, 2012 Share Posted February 28, 2012 Not many of those going around. I'd say the administrators are the only credible source, at the minute. They appear to be doing a good job, in all fairness.Things are not always what they "appear" to be though. Quote Link to post Share on other sites More sharing options...
Getstiffed 8,863 Posted February 28, 2012 Share Posted February 28, 2012 Quote Link to post Share on other sites More sharing options...
Polo 1,439 Posted February 28, 2012 Share Posted February 28, 2012 Where the money went is irrelevant. It's where the security lies. Whyte has said the security is over a personal company not relating to Rangers (I know he's a liar but until we have hard evidence proving any different we have to accept this as truth?). I'm pretty sure Whyte would just liquidate that company and shaft Ticketus if it came to it.Ticketus' security over Whyte's assets will surely be more than adequate. I'd be surprised if they didn't have a personal guarantee and fixed securities as well (e.g. floating charges over his companies, shares pledges in respect of the shares held in other companies, maybe even standard securities over properties he owns). They'll have looked at the accounts of any companies involved to make sure they're sufficiently valuable to avoid a situation where he just liquidates a company and waltzes off into the sunset.They would be off their nut to lend £24m on the back of a guarantee with no fixed protections to fall back on. Quote Link to post Share on other sites More sharing options...
johnw 22 Posted February 28, 2012 Share Posted February 28, 2012 I thought I read that whyte is/was involved with octopus in some way. Maybe I read it wrong, anyone know? Quote Link to post Share on other sites More sharing options...
Jimfanciesthedude 25,038 Posted February 28, 2012 Share Posted February 28, 2012 There is a lurking danger in all of this in my opinion.If as i suspect, the money has went to Rangers Group(formerly Wavetower) and our administrators or legal team claim it has nothing to do with the club and we will not honour any transactions, then Ticketus will go after Whyte/Rangers Group.If they go after Whyte/Rangers group, then this will place them into administration(as there is no way the dick can pay that money back) and ticketus will have first claim on their assets......which of course we all know is the 85% stake in Rangers Football Club. This makes some sort of buyout more crucial in my opinion.PS - this has just occurred to me so not fully thought it through so if anyone can think of a reason why this cant happen then happy to listen. the only way i can think is that Ticketus must have seen some sort of guarantee, Whyte simply saying that his company will cover it surely wouldnt have been enoughSo if ticketus asked him whyte MUST have shown them something, also if he used his stake in the club as guarantee then how if he didnt own the club at the timeisnt that illegal Quote Link to post Share on other sites More sharing options...
CoopersLeftBoot 4 Posted February 28, 2012 Share Posted February 28, 2012 I thought I read that whyte is/was involved with octopus in some way. Maybe I read it wrong, anyone know?Was it through Phil Betts maybe, does he not have a position now with ticketus's parent group? Quote Link to post Share on other sites More sharing options...
johnw 22 Posted February 28, 2012 Share Posted February 28, 2012 Was it through Phil Betts maybe, does he not have a position now with ticketus's parent group?Yeah maybe that's what I read. Whyte must know what he's doing if he's got connections to octopus. Quote Link to post Share on other sites More sharing options...
mafia32 93 Posted February 28, 2012 Share Posted February 28, 2012 Did betts not get booted from our board or did he leave of his own free will? Quote Link to post Share on other sites More sharing options...
cranic 2 Posted February 28, 2012 Share Posted February 28, 2012 He didn't, technically. He reached an agreement with Ticketus that was dependent on him taking over Rangers. Ticketus placed the money into an account and had the deal to acquire Rangers fallen through then the money would've been returned to Ticketus.How do you know that? Source? Quote Link to post Share on other sites More sharing options...
RangersMedia 35,961 Posted February 28, 2012 Share Posted February 28, 2012 Ticketus' security over Whyte's assets will surely be more than adequate. I'd be surprised if they didn't have a personal guarantee and fixed securities as well (e.g. floating charges over his companies, shares pledges in respect of the shares held in other companies, maybe even standard securities over properties he owns). They'll have looked at the accounts of any companies involved to make sure they're sufficiently valuable to avoid a situation where he just liquidates a company and waltzes off into the sunset.They would be off their nut to lend £24m on the back of a guarantee with no fixed protections to fall back on.You'd think so but then again if they have willingly participated in 'Financial Assistance' without any prior approval from the FSA you begin to wonder what kind of arseholes are in charge of these companies. PS - Whyte fooled Murray/Murray's lawyers with his accounts when showing guarantee's - maybe he's done it to TicketUS too? I wouldn't rule anything out. He seems very confident for someone who has a supposed personal liability of almost £30m. Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted February 28, 2012 Share Posted February 28, 2012 How do you know that? Source?It's more or less what the administrators stated and isn't an unheard of practice. In fact, it's largely how the Russian oligarchs became fabulously wealthy ... Yeltsin offered them state-owned assets at a knockdown price and they were able to borrow money to buy the assets. Not hard to get circa £300 million from a bank if you can show them that the dosh will get you an oil company worth £7 billion. Quote Link to post Share on other sites More sharing options...
stampyurie 203 Posted February 28, 2012 Share Posted February 28, 2012 Timmy will have choked on his dads cock this morning when he read that Fixed that for u Quote Link to post Share on other sites More sharing options...
Jig 14 Posted February 28, 2012 Share Posted February 28, 2012 We are never that lucky. Quote Link to post Share on other sites More sharing options...
WVB 2,560 Posted February 28, 2012 Share Posted February 28, 2012 We are never that lucky.Dunno. Helicopter Sunday in 2005 was a tad fortunate. Keep believing. Quote Link to post Share on other sites More sharing options...
Jig 14 Posted February 28, 2012 Share Posted February 28, 2012 Dunno. Helicopter Sunday in 2005 was a tad fortunate. Keep believing. Thats true i guess, what a day that was! I will do WVB, cheers. Quote Link to post Share on other sites More sharing options...
1690KWilliam 170 Posted February 28, 2012 Share Posted February 28, 2012 Timmy will have choked on his corn flakes this morning when he read that Cornflakes laced with buckfast. especially that bastard Philth Quote Link to post Share on other sites More sharing options...
thebooler 4,509 Posted February 28, 2012 Share Posted February 28, 2012 Imagine Whyte came out of this like a genius? I think that may just happen. Dont ask me why, but theres no man on earth would try to screw the Rangers over and expect to get away with it.Give it time and see where this goes. Quote Link to post Share on other sites More sharing options...
TheLawMan 6,240 Posted February 29, 2012 Share Posted February 29, 2012 It's more or less what the administrators stated and isn't an unheard of practice. In fact, it's largely how the Russian oligarchs became fabulously wealthy ... Yeltsin offered them state-owned assets at a knockdown price and they were able to borrow money to buy the assets. Not hard to get circa £300 million from a bank if you can show them that the dosh will get you an oil company worth £7 billion.The money would have been held in Escrow until everything was sorted and released only when the tickets were officially "Whytes" to sell.Total sleekit kunt. Quote Link to post Share on other sites More sharing options...
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