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Kilmarnock applauded for cheating bank out of £7 Million


Blue_Nose
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Scottish football is so stupid at times it`s not real.

A club that goes into admin and pays back a % of debt gets punished.

A club that walks away from every penny it owes then gets congratulated?

Killie , Dunfermline and Hearts have now walked away from 60 million in debt without so much as a word being said about it.

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Thought I heard on the tranny that they sold (or will sell ) the Park Hotel, the Moffat family let them off with the £1.8m loan and Bowie skip hire wants to create shares to sell.

We don't have any debt, but can't get a bank loan and have too many shysters shafting us of cash.

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The outrage against us was because we are Rangers and not for the money kept away from the taxman by EBTs or whytes criminal behavior and the supposed schools and hospitals that were brought up and if that was not self evident before it certainly is now with spl clubs like Killy and hertz getting away with large scale debt and not a peep.

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What's the real story behind this?

It is complicated.

Banks at the minute are willing to ditch impairments to improve their footing. There are tighter rules coming in and so wiping out deals where they are never likely to see the money is becoming a more attractive proposition than holding onto it in the hope they might be able to claw a small fraction back over a long period of time.

In other words, Killie are jammy bastards where as we were battered for the same thing.

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Financial doping. Run up a debt that you can't pay back then bail on it.

Sound familiar?

Only we didn't bail, we got hammered and if the rumours are true, the old-co, could have been pushed under while still solvent.

Don't think I've said this tonight!

SFA/SPL=SPFL.

CORRUPT TO THE CORE.

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All I can say is it makes me sick. Considering we only owed the taxman 9million and we've paid off most of the other debt even though we had no legal obligation too, how much did we really end up not paying? Less than 20mil I'd guess. Yet these teams have balked on a massive 60+ million. And we're the bad guys....

edit- read hearts debt was around 50 million? How much they payin back through CVA? 5 or something?

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The hotel has been sold for £2.5m which has brought their debt to BOS To £6.9m which bill bowie is converting the balance of the bank debt into equity.

Hmm almost £7m drifting off the balance sheet here for a taxpayer funded bank.

Corrupt to the core. Incidentilly is BOS still a sponsor of scottish football?

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All I can say is it makes me sick. Considering we only owed the taxman 9million and we've paid off most of the other debt even though we had no legal obligation too, how much did we really end up not paying? Less than 20mil I'd guess. Yet these teams have balked on a massive 60+ million. And we're the bad guys....

edit- read hearts debt was around 50 million? How much they payin back through CVA? 5 or something?

Our debt was negotiable and more importantly manageable until that absolute cunt Shyte became involved.

Hope we have a memorial party when he passes --- sooner the better (tu)

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The hotel has been sold for £2.5m which has brought their debt to BOS To £6.9m which bill bowie is converting the balance of the bank debt into equity.

How does the second part of this work? He just pays the bank £7m and then gets £7m worth of shares in the club???

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