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Stock Exchange Statement RE: Sevco 5088


sandymcm

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Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club

That I see as a problem as 5088 had an exclusive agreement with D&P and at no time did D&P inform the creditors that this was no longer the case until the day of the sale.

Here they come

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Only in the event of a CVA mate. Does not come into play when liquidation happened.

Not true mate, there would have been no need for any new company to be setup to purchase the club & assets had a CVA been agreed. That includes Sevco 5088 or any other company. Had a CVA been agreed there would be no need for an asset transfer.

However, anyone who is worried about any 'agreement' with 5088 is missing a big point.

If Whyte makes a claim based on a broken exclusivity 'agreement', he can only make a claim against who the agreement was with - which was Duff & Phelps, NOT the club.

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Not true mate, there would have been no need for any new company to be setup to purchase the club & assets had a CVA been agreed. That includes Sevco 5088 or any other company. Had a CVA been agreed there would be no need for an asset transfer.

However, anyone who is worried about any 'agreement' with 5088 is missing a big point.

If Whyte makes a claim based on a broken exclusivity 'agreement', he can only make a claim against who the agreement was with - which was Duff & Phelps, NOT the club.

Not strictly true - a new company would have been formed to purchase the old one out of admin through a CVA.

As to any claim Whyte has, which he does not, his thoughts re apparently that if D&P acted wrongly, then the sale was wrong too....

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How must the backstabbers in the boardroom feel now that they effectively ousted green for nothing

To be fair, we don't know Green's reason for jumping ship. He said it was to protect the club and until we find proper evidence of either a coup, or walking because we didn't like the way the club was willing to deal with the SFA/SPL, then we shouldn't speculate about board issues we know nothing about.

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Not strictly true - a new company would have been formed to purchase the old one out of admin through a CVA.

I totally disagree, both Sevco 5088 and Sevco Scotland were setup to buy the club out of liquidation.

As to any claim Whyte has, which he does not, his thoughts re apparently that if D&P acted wrongly, then the sale was wrong too....

I agree, he probably believes that, but the issue would be between Whyte and D&P. Can't see how it would affect us.

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I totally disagree, both Sevco 5088 and Sevco Scotland were setup to buy the club out of liquidation.

Now, maybe Green did realise that a CVA was not going to happen, right at the outset. And in that case, you would be correct.

But with the timeline as it happened, 5088 was a vehicle being used to get Whyte's shares etc. Scotland Ltd was the one that actually purchased the assets after failed CVA.

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Sevco 5088 are still paying Craig Whyte's mobile phone bill with T-Mobile (probably now EE). Someone from Rangers (not high profile) contacted EE and asked for all communication from Craig Whyte's number to Charles Green to be disclosed. Sevco 5088 bought I-Pads and mobile phones from them at a cost of £6,500 and still haven't settled their bill.

That is what I've heard and I've no reason to doubt it, from someone who works in the business side of EE currently.

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Sevco 5088 are still paying Craig Whyte's mobile phone bill with T-Mobile (probably now EE). Someone from Rangers (not high profile) contacted EE and asked for all communication from Craig Whyte's number to Charles Green to be disclosed. Sevco 5088 bought I-Pads and mobile phones from them at a cost of £6,500 and still haven't settled their bill.

That is what I've heard and I've no reason to doubt it, from someone who works in the business side of EE currently.

Did ye aye?

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