TheBlueKnight 32 Posted March 9, 2012 Share Posted March 9, 2012 By TOM ENGLISHPublished on Friday 9 March 2012 00:22THE infamous deal that Craig Whyte did to sell off vast numbers of seasons tickets for the next three seasons is believed to be close to collapse.Whyte lied for months about the fact that he used the £20m plus VAT that he received from Ticketus to pay off Lloyds Banking Group and thereby assume ownership of Rangers. He was exposed some weeks back. Now, it would appear, that the deal is about to unravel in the coming weeks.Sources close to the affair say that, although it is still subject to a court process, they are confident that, in a week or possibly two, it will be revealed that Ticketus no longer have a claim on up to a 100,000 season tickets. It is also believed that the administrators, Duff and Phelps, are hugely confident that deal that incensed the Rangers fans can be undone.Elsewhere, the scramble for missing money continues apace in this Rangers story. When Whyte took over the club, his lawyers, Collyer Bristow, gave Sir David Murray and the independent board headed by then chairman Alastair Johnston, guaranteed undertakings that Whyte had lodged £9m in their accounts as proof of funds. In January of this year, Collyer Bristow, through company partner and Ibrox secretary, Gary Withey, reinforced the undertaking of £9m. Withey has sinced moved on from both the law firm and the football club. There is a dispute now about whether the £9m ever existed. If it did, it certainly does not exist now.The administrators at Rangers are intending to fight Collyer Bristow for these millions. Yesterday, Duff and Phelps managed to arrest £3.6m from the London law firm, £3.6m being the extent of Whyte’s supposed £9m commitment. Rangers have competition as they chase the £3.6m, however. The money will be the subject of a four-day trial beginning at the end of the month and it’s not just Rangers who are laying a claim to it.Some of the club’s other creditors are looking for a piece of it, including two firms linked to Whyte himself, Merchant Turnaround and Jerome Group Pension Fund.“We intend to go for as much of the £3.6m as we possibly can,” said Paul Clark, co-administrator at Rangers.“It’s going to be too late to save the cuts to the players salaries, but it will mean that there’s more in it for the creditors.”Whatever portion of the £3.6m goes Rangers way it will merely be shunted into the creditors pot in order to try to exit administration as quickly as possible, but that’s another issue. What has incensed the club is that, over a period of a year, they were given repeated promises that the £9m was sitting in Whyte’s lawyers account and it appears it was not.Solicitor firms are not supposed to give undertakings unless they are holding the cash, rather than some of the cash or a promise of the balance. Whatever sum Rangers end up with from the £3.6m, their administrators intend to subtract it from the £9m and then vigorously pursue Collyer Bristow for the balance. Quote Link to post Share on other sites More sharing options...
Carsons Dog 9,878 Posted March 9, 2012 Share Posted March 9, 2012 Is the protest off now? Quote Link to post Share on other sites More sharing options...
Right_To_Censor 1,951 Posted March 9, 2012 Share Posted March 9, 2012 that must be why ticketus wants that 3.9 million quid, whytes a smart mother fucker Quote Link to post Share on other sites More sharing options...
Turnberry18 3,204 Posted March 9, 2012 Share Posted March 9, 2012 No. We strike while the iron's hot!Things may be starting to turn our way and we've got to keep the momentum going.Why? Quote Link to post Share on other sites More sharing options...
theweebluenose 4,332 Posted March 9, 2012 Share Posted March 9, 2012 Brilliant, after a long day of apparent impending doom it's nice to hear some quite a few positive stories circulating. Quote Link to post Share on other sites More sharing options...
skinnymate1690 620 Posted March 9, 2012 Share Posted March 9, 2012 im confused , is whyte still a cunt or is he a genius ? Quote Link to post Share on other sites More sharing options...
Leeds_Bear 8,099 Posted March 9, 2012 Share Posted March 9, 2012 I was told two days ago that the Ticketus deal could collapse.Well why didn't you say!! Quote Link to post Share on other sites More sharing options...
Chuck_Fickens 425 Posted March 9, 2012 Share Posted March 9, 2012 He's a cunt of the highest order and should go to jail.You would say that, Paul. Quote Link to post Share on other sites More sharing options...
Smile 26,600 Posted March 9, 2012 Share Posted March 9, 2012 Is the protest off now?No its being held in a phone box. Quote Link to post Share on other sites More sharing options...
Thermopylae 15,286 Posted March 9, 2012 Share Posted March 9, 2012 This must be what it felt like when they relieved Mafeking Quote Link to post Share on other sites More sharing options...
Smile 26,600 Posted March 9, 2012 Share Posted March 9, 2012 im confused , is whyte still a cunt or is he a genius ? A cuntius. Quote Link to post Share on other sites More sharing options...
TheBoyDave 123 Posted March 9, 2012 Share Posted March 9, 2012 It seems that ticketus are going to get bumped then,if so it looks to me that ticketus have paid off the lloyds debt for free/cheap.By being in admin the potential tax bill is smaller.I wonder if Craig Whyte's plan is going perfectl or if it is all falling apart? Quote Link to post Share on other sites More sharing options...
donrfc737 30 Posted March 9, 2012 Share Posted March 9, 2012 does anyone know where he is now.... Quote Link to post Share on other sites More sharing options...
gillRFC 0 Posted March 9, 2012 Share Posted March 9, 2012 More good news If Karma exists we deserve good news in abundance and those who mocked us will live to regret it. Quote Link to post Share on other sites More sharing options...
OceanRain 2,845 Posted March 9, 2012 Share Posted March 9, 2012 No. We strike while the iron's hot!Things may be starting to turn our way and we've got to keep the momentum going.I certainly hope they give you a seat on the board Quote Link to post Share on other sites More sharing options...
Wee CJ 56 Posted March 9, 2012 Share Posted March 9, 2012 I'm feeling a wee bit happier for once. Let's hope things do go our way bears! Here's to a new start! Quote Link to post Share on other sites More sharing options...
Edmiston Drive 3,846 Posted March 9, 2012 Share Posted March 9, 2012 I was told two days ago that the Ticketus deal could collapse.bolt that door....................oops! it's too late now. Quote Link to post Share on other sites More sharing options...
californiadreamin52 339 Posted March 9, 2012 Share Posted March 9, 2012 We are far from out the woods but the news is now more positive that`s all that`s changed Quote Link to post Share on other sites More sharing options...
WVB 2,560 Posted March 9, 2012 Share Posted March 9, 2012 No. We strike while the iron's hot!Things may be starting to turn our way and we've got to keep the momentum going.If you're doing any ironing, leave my clothes, I'll deal with them myself thanks.Walter Mitty The Blue Knight is in no way a mouthpiece for the fat t-shirt salesman. Quote Link to post Share on other sites More sharing options...
debear 603 Posted March 9, 2012 Share Posted March 9, 2012 I was told two days ago that the Ticketus deal could collapse.Why were you protesting if you knew it was all good? Quote Link to post Share on other sites More sharing options...
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