Jump to content

Craig Whyte


Recommended Posts

If he doesnt get Jailtime. It sets a dangerous precedent for anyone owning a football club.

Anyone could go out and buy club X tomorrow against the season ticket sales, pay players X k per week for a year, syphon off the tax and NI to other companies, liquidate football club then run away pockets full of cash.

Link to post
Share on other sites

If he doesnt get Jailtime. It sets a dangerous precedent for anyone owning a football club.

Anyone could go out and buy club X tomorrow against the season ticket sales, pay players X k per week for a year, syphon off the tax and NI to other companies, liquidate football club then run away pockets full of cash.

The problem is Whyte did not syphon off the tax to another company, he used it to fund operating costs at Rangers.

Link to post
Share on other sites

Of course agreement between Whyte & Green would be based on CVA being approved because in that instance Green would buy shares in oldco, with that failure Green has bought the assets and formed the newco and BDO are going to liquidate oldco and therefore Whyte's shares with it. Green has not entered in to any transaction with Whyte in relation to newco.

What exactly is the supposed case...Whyte enforcing floating charge? Wouldn't that just mean he, rather than other creditors, is entitled to the receipts from the sale of assets (after D&P fees of course)?

Link to post
Share on other sites

For those of a nervous disposition please sit down, whytey's daddy now holds the preferential status through Liberty Corporate Ltd once claimed by RFC Group Ltd/whytey over The Rangers assets, all done quite legally and above board by executing the proper MG01.

Things could get even more interesting than they already are if that is at all possible.

Link to post
Share on other sites

For those of a nervous disposition please sit down, whytey's daddy now holds the preferential status through Liberty Corporate Ltd once claimed by RFC Group Ltd/whytey over The Rangers assets, all done quite legally and above board by executing the proper MG01.

Things could get even more interesting than they already are if that is at all possible.

Right, so the £5.5m goes to Whyte? I couldn't care less who gets the money from OldCo (although the thought of Whyte profiting does stick in the craw).

Or are you suggesting he can lay claim to the assets themselves, rather than the profit for them? Are you suggesting D&P had no right to sell the assets? Sounds very far-fetched...

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Upcoming Events

    • 26 January 2022 19:45 Until 21:45
      0  
      Rangers v Livingston
      Ibrox Stadium
      Scottish Premiership
×
×
  • Create New...