bubblybear 258 Posted June 9, 2012 Share Posted June 9, 2012 This is all very confusing, so if cva is approved and kings name is not on it he gets nothing for putting in 20m, although murrays (david) name is on it and he gets ?How can d&p terminate kings directorship ? And his share without his say be transferred to green?Even stranger that ellis is now jumping into bed with king and given d murray and whye although have threatned to sue nothing has come of it and both might be running scare incase the truth comes out, via 2 other conmen king and ellis?"Craig Whyte and Gary Withey previously tried to remove me and were ultimately thwarted by that legal undertaking given at the time, and as a condition of, my initial investment." Wonder what has changed since then?The last statement from p murray?Sorry this is so long, hope someone can answer as its all above my head. Quote Link to post Share on other sites More sharing options...
trueblueal 2,117 Posted June 9, 2012 Author Share Posted June 9, 2012 Just remember where this story originated from"....................BBCHaving applied the usual 'quotes' test I have to say this is straight from Kings mouth and not a speculative story. Just need to hope he's full of shit Quote Link to post Share on other sites More sharing options...
Davie2909 21 Posted June 9, 2012 Share Posted June 9, 2012 I think that King needs to Get to Fuck! The guy is actually starting to piss me off big time Quote Link to post Share on other sites More sharing options...
North Rd 2,860 Posted June 9, 2012 Share Posted June 9, 2012 What's your point? Well you are not going to get anything positive news from Them! Other question: Can the Debentures block the cva? Quote Link to post Share on other sites More sharing options...
chris182 6,369 Posted June 9, 2012 Share Posted June 9, 2012 Christ almighty - is there no end Quote Link to post Share on other sites More sharing options...
BritishBear 34 Posted June 9, 2012 Share Posted June 9, 2012 All he is doing is making the prospect of a newco more likely. The result being his and everyone else's shares become worthless and we end up getting a further 2 years excluded from europe.He has done nothing for months and now this.Why does he even want the shares, he hasn't made a bid for the club, FFS why why why? Quote Link to post Share on other sites More sharing options...
Spectre 1,663 Posted June 9, 2012 Share Posted June 9, 2012 This is all very confusing, so if cva is approved and kings name is not on it he gets nothing for putting in 20m, although murrays (david) name is on it and he gets ?How can d&p terminate kings directorship ? And his share without his say be transferred to green?Even stranger that ellis is now jumping into bed with king and given d murray and whye although have threatned to sue nothing has come of it and both might be running scare incase the truth comes out, via 2 other conmen king and ellis?"Craig Whyte and Gary Withey previously tried to remove me and were ultimately thwarted by that legal undertaking given at the time, and as a condition of, my initial investment." Wonder what has changed since then?The last statement from p murray?Sorry this is so long, hope someone can answer as its all above my head.If CVA is accepted King will still have his own shares, it's only Whyte's shares that are going to be transferred to Green on Thursday. Quote Link to post Share on other sites More sharing options...
BlueSuedeSambas 54,542 Posted June 9, 2012 Share Posted June 9, 2012 King has had months to come forward and yet he only does it now.Sick of all these poeple claiming to be looking out for teh club when in reality they are only looking out for their own interests. Quote Link to post Share on other sites More sharing options...
caseyjones 3,009 Posted June 9, 2012 Share Posted June 9, 2012 Well you are not going to get anything positive news from Them! Other question: Can the Debentures block the cva?I saw them releasing the words of Green too. They are reporting what has been said. Quote Link to post Share on other sites More sharing options...
stuart54 218 Posted June 9, 2012 Share Posted June 9, 2012 All he is doing is making the prospect of a newco more likely. The result being his and everyone else's shares become worthless and we end up getting a further 2 years excluded from europe.He has done nothing for months and now this.Why does he even want the shares, he hasn't made a bid for the club, FFS why why why?Thats the million dollar question that not one of us can answer - Why?He doesnt need the money and theres not a great deal of money to be made in the SPL, so, Why?DK must know something, he must! Quote Link to post Share on other sites More sharing options...
North Rd 2,860 Posted June 9, 2012 Share Posted June 9, 2012 I saw them releasing the words of Green too. They are reporting what has been said. Ok, what about the Debentures? If they listen to King, can THEY block the cva, my understanding is no, only HMRC or Ticketus can block it Quote Link to post Share on other sites More sharing options...
OlegKuznetsov 10,816 Posted June 9, 2012 Share Posted June 9, 2012 Trying to get my head round what King is doing. If he forces a newco/liquidation by delaying the CVA, I'm sure a liquidator then has to make a report on the conduct of the directors (in the last 5 years?). If such an investigation slates Murray, does that help King in any supposed claim against Murray? Is King putting vengeance against Murray ahead of the survival of the Club? Looks like it.That's pretty much my take, boss.I think there's also a frustration at his own current inability to be the owner, hence his ongoing proximity and support for TBK & P. Murray. I suspect he thinks TBK would allow for him to invest and be the King of Ibrox once South African tax cases against him are resolved. Quote Link to post Share on other sites More sharing options...
ray 105 Posted June 9, 2012 Share Posted June 9, 2012 King spunked his money in a company that no longer exists. Quote Link to post Share on other sites More sharing options...
ray 105 Posted June 9, 2012 Share Posted June 9, 2012 1) A verbal contract as the movie mogul said, isn't worth the paper its written on.2) Administrators have the power to remove and appoint directors.Alasdair Lamont @BBCAlLamontDave King says he'll mount a legal challenge to block any attempted transfer of Craig Whyte's shares in Rangers to Charles Green.Alasdair Lamont @BBCAlLamontRemember King claims to have agreed verbally with Whyte that he has first refusal on his shares.Alasdair Lamont @BBCAlLamontDK: Andrew Ellis has confirmed to me by email that Mr Whyte advised him, during negotiations with Mr Ellis, of his agreement with me.Alasdair Lamont @BBCAlLamontDK: The agreement is therefore not contentious and I have no doubt will be upheld before a Scottish Court.Alasdair Lamont @BBCAlLamontAs the club's admin attempt to remove him from board, King has told D&P he's entitled to a director's post as long as he is a shareholder.Alasdair Lamont @BBCAlLamontDK: Craig Whyte and Gary Withey previously tried to remove me and were ultimately thwarted by that legal undertaking...Alasdair Lamont @BBCAlLamont... given at the time, and as a condition of, my initial investment. Quote Link to post Share on other sites More sharing options...
Caddy 7 Posted June 9, 2012 Share Posted June 9, 2012 King is doing my nut in. Quote Link to post Share on other sites More sharing options...
54andcounting 627 Posted June 9, 2012 Share Posted June 9, 2012 I have something verbal........ get to fuck back to SA!!! Quote Link to post Share on other sites More sharing options...
North Rd 2,860 Posted June 9, 2012 Share Posted June 9, 2012 Pasted from an insolvency site.Insolvency Administrator has the power to "do anything necessary or expedient for the management of the affairs, business and property of the company" and may "remove directors" and "appoint directors". Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted June 9, 2012 Share Posted June 9, 2012 Thats the million dollar question that not one of us can answer - Why?He doesnt need the money and theres not a great deal of money to be made in the SPL, so, Why?DK must know something, he must!I think it's to get back at Murray he's doing this - nothing else makes sense. Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted June 9, 2012 Share Posted June 9, 2012 Pasted from an insolvency site.Insolvency Administrator has the power to "do anything necessary or expedient for the management of the affairs, business and property of the company" and may "remove directors" and "appoint directors".Agreed, and I think this will trump King's agreement to be a director while he has a shareholding. Quote Link to post Share on other sites More sharing options...
caseyjones 3,009 Posted June 9, 2012 Share Posted June 9, 2012 Ok, what about the Debentures? If they listen to King, can THEY block the cva, my understanding is no, only HMRC or Ticketus can block itKing is now claiming £20m, so I don't know how that will go, but the Debenture holders only total about £7m, so on their own, they're not enough. With King at the above amounts, they would be. I think! Quote Link to post Share on other sites More sharing options...
North Rd 2,860 Posted June 9, 2012 Share Posted June 9, 2012 Green: "the first phase funding of 10m is there right now, he hopes to raise extra 20m" " Craig Whyte won't get a penny more out of Rangers than the £2 he paid him" " Rangers will be back competing at the top. That's what we all want, Ally, the fans, me, the investors" " Green also dismisses reports he will be taking 4m out of Rangers, he hopes to receive 2m worth of shares " Quote Link to post Share on other sites More sharing options...
whytes3 254 Posted June 9, 2012 Share Posted June 9, 2012 I think it's to get back at Murray he's doing this - nothing else makes sense.Even if that is his motive it seems madness that he is putting this ahead of the clubs futureFair play to him for the investment he made a long while ago but now is the time for either putting up or shutting. Up and given that he isn't offering to give any more investment I don't see why he actually wants cows shareholding anyway Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted June 9, 2012 Share Posted June 9, 2012 King is now claiming £20m, so I don't know how that will go, but the Debenture holders only total about £7m, so on their own, they're not enough. With King at the above amounts, they would be. I think!King has no valid claim against the Club for £20m. It is for the proposers of the CVA (D&P) to include those creditors who they believe have valid claims. King won't get a £20m vote on Thursday - the best he can do is go to court within 28 days after the CVA, whereupon his claim will be laughed out. Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted June 9, 2012 Share Posted June 9, 2012 Fair play to him for the investment he made a long while ago£20m is £20m and not to be sniffed at. But it's easier for King to give £20m (and be left with £500m or whatever) than it is for the normal punter to give, say, £20k. Quote Link to post Share on other sites More sharing options...
Mr Struth 137 Posted June 9, 2012 Share Posted June 9, 2012 King looking to get the club for £2 and sell it on to recoup as much of his '£20m' possibly? Quote Link to post Share on other sites More sharing options...
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