The Rangers soap opera goes on and on.

[56anawthat]

I also worked for LTSB before the crash. They were a well run company and made decent profits for their shareholders, of which I was one. My understanding was that GB virtually forced them to take on HBOS along with its toxic debts. An economist friend who was ITK confirmed this to me. How he did it is not common knowledge, but as Chancellor he would have had considerable leverage in the city. No doubt it will come out eventually.

 

Net result, the value of my shares (my nest egg) plummeted. After several years more of financially prudent management Lloyds are back in profit and the government have sold nearly all of the shares they bought at a profit so the taxpayer has not lost out at all. Just the original shareholders who were put into a deal they didn't want.

 

Anyway, back to the shipwreck that is Oldco...

[Unknown user]

I also worked for LTSB before the crash. They were a well run company and made decent profits for their shareholders, of which I was one. My understanding was that GB virtually forced them to take on HBOS along with its toxic debts. An economist friend who was ITK confirmed this to me. How he did it is not common knowledge, but as Chancellor he would have had considerable leverage in the city. No doubt it will come out eventually.

 

Net result, the value of my shares (my nest egg) plummeted. After several years more of financially prudent management Lloyds are back in profit and the government have sold nearly all of the shares they bought at a profit so the taxpayer has not lost out at all. Just the original shareholders who were put into a deal they didn't want.

 

Anyway, back to the shipwreck that is Oldco...

I left ltsb in summer 2008, well before the HBOS deal in 2009, and the shares had alreeady plummeted - trust me, that's when I cashed out, I remember it well!

[The Gasman]

If the verdict is that SDM sold the club whilst he knew the end was near then what would the repercussions be here? Would SDM owe CW a shedload of compensation?

Selling a business that's in trouble is not illegal, so unless he lied about some of the specifics, I'd guess there'll be no repercussions from that aspect.

[PeterintheRain]

Lehmans had been allowed to go bust in US. And it wasn't deemed to be a good call. Whether Brown etc knew exactly how toxic the Bank of Scotland was due to risky mortgage lending is uncertain. Whether Lloyds was misled by the government basically.

 

Think there are still some shareholder court cases pending which like this trial could bring out the truth.

Bank of Scotland was not toxic.  It was HALIFAX that was toxic. Former building society run by carpetbaggers and making up 61% of HBOS.   An English bank going teats up just like RBS the London based conglomerate and it's Scotland getting the usual racist blame.

[JJ1984]

Bank of Scotland was not toxic. It was HALIFAX that was toxic. Former building society run by carpetbaggers and making up 61% of HBOS. An English bank going teats up just like RBS the London based conglomerate and it's Scotland getting the usual racist blame.

Correct. Did they not ruin a couple of other building society's too? I worked in mortgages during the member and there was a lot of unhappy staff and customers when it happened. At that point BoS was ran suberbly and you have to feel for a lot of staff who put into shares every month from their pay.

[Footballfirst]

Bank of Scotland was not toxic.  It was HALIFAX that was toxic. Former building society run by carpetbaggers and making up 61% of HBOS.   An English bank going teats up just like RBS the London based conglomerate and it's Scotland getting the usual racist blame.

I worked for BoS and HBOS  until three weeks before the takeover by Lloyds. In my opinion it was BoS that was largely responsible for the collapse of HBOS through the reckless lending of its Corporate Banking division, e.g. ?700m to Murray group.  Halifax wasn't blameless either though their 100%+ mortgage lending decisions. However, I saw the mortgages being more the victim of the financial crash, rather than the trigger. When property prices started to fall and negative equity became a big issue that part of the business went into a downward spiral.

 

The corporate governance of HBOS also left a lost to be desired and the blame for much of that lies with former HBOS chief James Crosby, who was one of Gordon Brown's favoured bankers.  He was knighted in 2006 for his services to banking, then appointed to the FSA while still Chief Exec of the bank, a clear conflict of interest. Crosby's groomed successor, Andy Hornby, was out his depth as a banker, having come from ASDA.

 

BOS was a stable and prudent bank before the merger with Halifax in 2001, but had started to lose its way once Gavin Masterton took the helm after Sir Bruce Pattullo retired around 1998

Edited May 2, 2017 by Footballfirst

[Jamdub]

Selling a business that's in trouble is not illegal, so unless he lied about some of the specifics, I'd guess there'll be no repercussions from that aspect.

 

How dare you, Minty alledgedly telling porkies shurely shum mistake, that is like saying Dave King is the Lying King, wait a minute there seems a common denominator here... 

[1971fozzy]

This could be a great movie one day. Oh how will it all end . Just brilliant

[LeftBack]

Although we all hope there will be a long trial there is the chance the case could collapse fairly early.

 

Presume the key evidence on Whyte will be presented by prosecution soon.

One of the many things I dont understand about this whole saga is the way this trial is being conducted; I thought the prosecution goes first, sets out the evidence and then the defence rebuts and presents its case. It seems back to front - is that just my lack of legal knowledge?

[Mikey1874]

One of the many things I dont understand about this whole saga is the way this trial is being conducted; I thought the prosecution goes first, sets out the evidence and then the defence rebuts and presents its case. It seems back to front - is that just my lack of legal knowledge?

No

 

That is what is happening. Prosecution first then defence Donald Findlay

 

It's just there doesn't seem to have been much obvious clear anti Whyte evidence yet

 

And again these are witnesses chosen by the prosecution

 

Maybe just setting the scene and then the hard hitting evidence is to come

[JamboAl]

This could be a great movie one day. Oh how will it all end . Just brilliant

Do you think people would believe the story line?

[Deevers]

No

That is what is happening. Prosecution first then defence Donald Findlay

It's just there doesn't seem to have been much obvious clear anti Whyte evidence yet

And again these are witnesses chosen by the prosecution

Maybe just setting the scene and then the hard hitting evidence is to come

Think that's exactly what is happening. Alec Prentice, the lead for the Crown is a pretty shrewd operator.

[Tasavallan]

Doomsday scenario looming for Rangers RIP. If the big tax bill is proven as payable then Rangers can only go one way - liquidation. There never could be admin for a tax debt - HMRC would never have agreed. And don't forget , Rangers were already guilty of tax evasion with the wee tax case. 

 

Llloyds could see which way the wind was blowing. 

 

So could SDM - hence the PDQ sale to Whytey.  SDM didn't want to be at the wheel when the ship went down.

 

I believe that what may be the "two bald men fighting over a comb scenario" will be who owns the assets and especially Ibrox and Auchenshuggle. BDO would love to be able to sell them and put the money in the Oldco creditor's pot.

[Geoff Kilpatrick]

I worked for BoS and HBOS until three weeks before the takeover by Lloyds. In my opinion it was BoS that was largely responsible for the collapse of HBOS through the reckless lending of its Corporate Banking division, e.g. ?700m to Murray group. Halifax wasn't blameless either though their 100%+ mortgage lending decisions. However, I saw the mortgages being more the victim of the financial crash, rather than the trigger. When property prices started to fall and negative equity became a big issue that part of the business went into a downward spiral.

 

The corporate governance of HBOS also left a lost to be desired and the blame for much of that lies with former HBOS chief James Crosby, who was one of Gordon Brown's favoured bankers. He was knighted in 2006 for his services to banking, then appointed to the FSA while still Chief Exec of the bank, a clear conflict of interest. Crosby's groomed successor, Andy Hornby, was out his depth as a banker, having come from ASDA.

 

BOS was a stable and prudent bank before the merger with Halifax in 2001, but had started to lose its way once Gavin Masterton took the helm after Sir Bruce Pattullo retired around 1998

This is spot on. Bank of Scotland were almost as bank as Anglo Irish in their corporate deals, taking on corporate lending no one else would touch to grow the balance sheet as rapidly as possible.

[Footballfirst]

I've been following the case since the early days of the RTC blogs.  This weekend it will be six years since Whyte took over. The main thing that I have taken from the evidence heard in court to date is that the suspicions that the internet bampots had about SDM, the RFC Board, Whyte and Lloyds have been proved to be true, and in some cases understated.

 

RFC was in deep financial trouble before the sale. That much is clear. 

 

Does the Crown have sufficient evidence to secure a conviction? Each of the prosecution witnesses who have appeared thus far, Smith, McCoist, McIntyre, Murray and Shanks have been subjected to pretty forensic cross examination by Findlay. 

 

It may be that the big hitters of Ticketus, Alastair Johnston, Martin Bain, David Grier can provide the irrefutable proof that the deal was a fraud, but from what I have heard in court myself and what I have seen from the live tweets today, the prosecution are having difficulty in making the mud stick to Whyte.  If it continues in this vein to the end of the prosecution's case I can see Findlay asking Lady Stacey to direct the jury to find Whyte not guilty an the basis that the prosecution has failed to provide sufficient evidence to prove their case.

[LeftBack]

No

 

That is what is happening. Prosecution first then defence Donald Findlay

 

It's just there doesn't seem to have been much obvious clear anti Whyte evidence yet

 

And again these are witnesses chosen by the prosecution

 

Maybe just setting the scene and then the hard hitting evidence is to come

Thanks makes sense - but it does seem a strange strategy because as far as I can see one of the few 'innocent' parties in this so far is Whyte!

[269miles]

I believe that what may be the "two bald men fighting over a comb scenario" will be who owns the assets and especially Ibrox and Auchenshuggle. BDO would love to be able to sell them and put the money in the Oldco creditor's pot.

Is it Whyte ? This was his speciality after all.  Take on a distressed business , shed the debt and retain the assets.  

[JamboAl]

This is spot on. Bank of Scotland were almost as bank as Anglo Irish in their corporate deals, taking on corporate lending no one else would touch to grow the balance sheet as rapidly as possible.

It's quite amazing that these practices were not subjected to scrutiny by the more savvy shareholders but I suppose most people, including me, totally trusted banks.

[56anawthat]

I left ltsb in summer 2008, well before the HBOS deal in 2009, and the shares had alreeady plummeted - trust me, that's when I cashed out, I remember it well!

You were very wise (or lucky) then. Yes, they had already plummeted, in line with other banking shares, to around 280 pence a share, but after the disastrous HBOS acquisition they lost most of their remaining value and only now are dividends being paid again. The directors and shareholders were seriously misled about the true nature of the business they were taking on. Sound familiar?

[Geoff Kilpatrick]

It's quite amazing that these practices were not subjected to scrutiny by the more savvy shareholders but I suppose most people, including me, totally trusted banks.

Shareholders didn't care. Good times = nice dividends.

[Geoff Kilpatrick]

You were very wise (or lucky) then. Yes, they had already plummeted, in line with other banking shares, to around 280 pence a share, but after the disastrous HBOS acquisition they lost most of their remaining value and only now are dividends being paid again. The directors and shareholders were seriously misled about the true nature of the business they were taking on. Sound familiar?

Daniels and co had wanted a takeover of another bank as Lloyds were seen as the "boring" bank among their peers. Ironically, had they ignored HBust, they and HSBC could have survived without an injection of sovereign or taxpayer funds.

[Riccarton3]

I've been following the case since the early days of the RTC blogs. This weekend it will be six years since Whyte took over. The main thing that I have taken from the evidence heard in court to date is that the suspicions that the internet bampots had about SDM, the RFC Board, Whyte and Lloyds have been proved to be true, and in some cases understated.

 

RFC was in deep financial trouble before the sale. That much is clear.

 

Does the Crown have sufficient evidence to secure a conviction? Each of the prosecution witnesses who have appeared thus far, Smith, McCoist, McIntyre, Murray and Shanks have been subjected to pretty forensic cross examination by Findlay.

 

It may be that the big hitters of Ticketus, Alastair Johnston, Martin Bain, David Grier can provide the irrefutable proof that the deal was a fraud, but from what I have heard in court myself and what I have seen from the live tweets today, the prosecution are having difficulty in making the mud stick to Whyte. If it continues in this vein to the end of the prosecution's case I can see Findlay asking Lady Stacey to direct the jury to find Whyte not guilty an the basis that the prosecution has failed to provide sufficient evidence to prove their case.

Ideal scenario for everyone. Edited May 2, 2017 by Riccarton3

[Mikey1874]

Credit to the bampots

[Footballfirst]

A new tweeter today from the BBC Business section

 

David Henderson? @DJSHenderson 6m6 minutes ago

I'll be tweeting from the Craig Whyte fraud trial, at the High Court in Glasgow. Day 8 of this trial. It all begins at 10am.

[DETTY29]

A new tweeter today from the BBC Business section

 

David Henderson? @DJSHenderson 6m6 minutes ago

 

I'll be tweeting from the Craig Whyte fraud trial, at the High Court in Glasgow. Day 8 of this trial. It all begins at 10am.

He's already tweeted more in a few minutes than the Black guy did in a session.

 

Lot faster than James Doleman too.

Edited May 3, 2017 by DETTY29

[Hagar the Horrible]

I've been following the case since the early days of the RTC blogs.  This weekend it will be six years since Whyte took over. The main thing that I have taken from the evidence heard in court to date is that the suspicions that the internet bampots had about SDM, the RFC Board, Whyte and Lloyds have been proved to be true, and in some cases understated.

 

RFC was in deep financial trouble before the sale. That much is clear. 

 

Does the Crown have sufficient evidence to secure a conviction? Each of the prosecution witnesses who have appeared thus far, Smith, McCoist, McIntyre, Murray and Shanks have been subjected to pretty forensic cross examination by Findlay. 

 

It may be that the big hitters of Ticketus, Alastair Johnston, Martin Bain, David Grier can provide the irrefutable proof that the deal was a fraud, but from what I have heard in court myself and what I have seen from the live tweets today, the prosecution are having difficulty in making the mud stick to Whyte.  If it continues in this vein to the end of the prosecution's case I can see Findlay asking Lady Stacey to direct the jury to find Whyte not guilty an the basis that the prosecution has failed to provide sufficient evidence to prove their case.

I am in a similar position, and triggered by not only being cheated by the Davisgate scandal, but to have also been cheated by a team with players stacked up using financial doping.  But also this is just an amazing soap played out in public, but with the priciple protagonists turning out to be the villians rather than the heroes, its Like the Jedi are just a gang of drug dealers. The SMSM just cannot cope with their heroes are actually the bad guys and corrupts to the core.

 

What is clear from what was in the public domain at the time, and the eveidence so far is that its clear that:

 

Rangers and MIM/MIH were running up dedts that concered Lloyds

Lloyds needed to put their own man on the board and applied "leverage" Their words

The debt was brought to ?18m

The wee tax case was still an issue

The stadium maintenance had slipped.

Bombshell...SDM had cheated the whole of Scottish football with a tax avoidance scheme.

Hid dual contracts from the SFA/SPL

Hector wanted their coin to the tune of ?????millions

The bank had to get out of dodge

For sale signs went up

No buyers willing to gamble on Rangers being a going concern

In walks Whyte a little known asset stripper who has a record of buying failed business

Whyte pays a fortune to have his online footprint errased

Keef did his extensive research and annouced the new messiah as being a billionair with off the radar wealth.

Lloyds are sceptical about this eejit but need their money back

SDM dragging his erse about the ground trying to get a dignified way out.

Whyte does not think big tax case is a problem, cares not a jot.  SMSM rejoice.

Whyte does a deal between Octopus/Ticketus and wavetower to borrow ?25m using ?50m of season ticket money to repay the loan?

Ticketus  give him the money (no questions asked?)  hopefully their rationalle with be questioned during this trial?

Lloyds using a negotiation tactic (again their words)  to apply leverage to ensure the deal goes through or the overdraft will be stopped

Rangers board are now aware they could be banned as directors for trading while insolvent (from yesterdays evidence).

AJ causing problems on the board.

Lloyds consider replacing the board

March 2011, Rangers consider pre-pack admin

Senior people discuss admin but for some reason dont mention this word to SDM????

May 2011 SDM accepts the Whyte deal for ?1   and Lloyds get their ?18m, and ditch Rangers like a skid marked face cloth!

SMSM cream themselves and lay petals at the feet of the new messiah, Orcs have a new sugar daddy who is going to sort its all out.

Hector wont go away over the big tax case, MSM say nothing to see here folks move along. Claim by Hector to be HUGE!!!!

Hector wont go away over the wee tax case, MSM say nothing to see here folks move along. but promise of payment still not made

Impending essential stadium maitenance due to start only it does not.

Arsenal shares sold, nothing again to see here move along

PAYE/NIC payments not made still nothing to see here folks

Ticketus......Craigy boy we are getting some money in soon yeah?  yeah yeah yeah, cheque is in the post.

Face painter employed

Nobody gets paid, family silver on ebay (figuratively)

14th Feb Rangers apply for Admin,

Whyte gets in the Administrators of his chosing.

SMSM go into a 404 error....cant compute, cant compute.

Turns out whyte had no pot as a urinal

In rides Green to a massive ovation, keef hails him as the the new messiah, Orcs have a new sugar daddy who is going to sort its all out.

Hector we dont do deals of unpaid tax

Green we will get a CVA over the unpaid tax?

Hector we dont do deals over the unpaid tax

SMSM Green to get CVA over unpaid tax

Green we did not get CVA over unpaid tax...oh dear what a shame?

Green and Whyte for new entity called Sevco 5088

Adminsitrators appoint Green as the prefered bidder

Sevco 5088 get licence as a new club to play in the top flight as though nothing has happened

Admins accept ?5m for the carcass, name, history, but not the debt.

Face painter bemused

MSM apply "Leverage" to ensure Sevco 5088 get to play in the top flight?

Fans apply more leverage to their clubs to ensure that is not happening

Orcs call us all Timmy's

5 way agreement is reached Classified), Sevco Scotland (note name change) starts in the 4th tier as Rangers.

Green does not fulfill his promises

Rangers unable to find proper banking

MA gives them some money

Rangers having issues with the AIMS stock market

Stadium maintenance still not started.

Green runs up debt and spends a fortune to win 4th Tier of Scottish football.

MA and Sports direct gat naming rights, badge and mech deal for next to naff all for 7 years.

Greens cohorts get massive severance payouts

AIMS suspend trading

KING and Concert party buy Rangers from Green

Fat Sally gets put on garening leave at great expence

LSN says no advantage gained from Ragers 11 years of cheating buying players they could not afford (SDM admitted in court)

No nomad to touch Rangers

MSM, King to get NOMAD

NOMADS, err no King cannot be trusted

MSM King to get NOMAD regardless he said so

NO NOMAD Rangers kicked off the stock market

Metro bank take over without any overdraft facilities or lending schemes.

MSM nothing to see here folks move along

King ?30m war chest of his kids inheritance to get out of Championship after finishing 3rd way behind the Famous and even the wee team.

Ops ?18m off the ?30m already spent?

Stadium maintenance still not paid

Unclear if new face painter employed

Courts demand King and his concert party make an offer for all the shares as they have gone over the 30% threshhold,  Final decision made by courts

Courts tell of date that this final offer must be made.

MSM, nothing to see here folks move along.

Date elapsed without offer being made

King I will consider my options for an appeal.

MSM King to appeal

Courts and the City...There is no appeal its gone past that and you will now face court procedings

MSM king to appeal, nothing to  see here folks move along

KING its not in the best interest, so I will ignore the law

MSM. King acting in best interest of the club....bad bad courts and city people.

 

 

Court case against Whyte starts so thats why i never went into too much detail appart from what was in the public domain at the time, more to be said after the trial.  Whyte denies all charges.

 

SDM admits they cheated under oath

SDM denies talking admin under oath

SDM people discussed admin under oath

Lloyds did not care about Rangers nor football only they wanted their money back and applied leverage under oath

This negotiation tactic by Lloyds involved removing overdtaft facilty and making directors liable for trading while insolvent..under oath

Considered removing directors altogether if the sale did not go through..under oath

 

 

So Rangers were in all aspects were under the banks control so in effective administration  FFP rules?  and SDM "its all everybody elses fault"

 

When you consider this huge cast and not one good guy?   Ahmed, the Driscoll Brothers, the Aint Half hot mum concert party, Fhudd and Phlem (note might be involved in court case?)

 

Sorry court cases?

 

But is that a rough time line?  I would love a full transcript of this thread, so as to prove the Internet bampots were right most of the time while the media failed

 

and the Rangers fans let their club die, and whats worse is the Media and the fans are heading full steam into Admin v2,  but hey ho No Surrender!!!

[Pans Jambo]

I am in a similar position, and triggered by not only being cheated by the Davisgate scandal, but to have also been cheated by a team with players stacked up using financial doping.  But also this is just an amazing soap played out in public, but with the priciple protagonists turning out to be the villians rather than the heroes, its Like the Jedi are just a gang of drug dealers. The SMSM just cannot cope with their heroes are actually the bad guys and corrupts to the core.

 

What is clear from what was in the public domain at the time, and the eveidence so far is that its clear that:

 

Rangers and MIM/MIH were running up dedts that concered Lloyds

Lloyds needed to put their own man on the board and applied "leverage" Their words

The debt was brought to ?18m

The wee tax case was still an issue

The stadium maintenance had slipped.

Bombshell...SDM had cheated the whole of Scottish football with a tax avoidance scheme.

Hid dual contracts from the SFA/SPL

Hector wanted their coin to the tune of ?????millions

The bank had to get out of dodge

For sale signs went up

No buyers willing to gamble on Rangers being a going concern

In walks Whyte a little known asset stripper who has a record of buying failed business

Whyte pays a fortune to have his online footprint errased

Keef did his extensive research and annouced the new messiah as being a billionair with off the radar wealth.

Lloyds are sceptical about this eejit but need their money back

SDM dragging his erse about the ground trying to get a dignified way out.

Whyte does not think big tax case is a problem, cares not a jot.  SMSM rejoice.

Whyte does a deal between Octopus/Ticketus and wavetower to borrow ?25m using ?50m of season ticket money to repay the loan?

Ticketus  give him the money (no questions asked?)  hopefully their rationalle with be questioned during this trial?

Lloyds using a negotiation tactic (again their words)  to apply leverage to ensure the deal goes through or the overdraft will be stopped

Rangers board are now aware they could be banned as directors for trading while insolvent (from yesterdays evidence).

AJ causing problems on the board.

Lloyds consider replacing the board

March 2011, Rangers consider pre-pack admin

Senior people discuss admin but for some reason dont mention this word to SDM????

May 2011 SDM accepts the Whyte deal for ?1   and Lloyds get their ?18m, and ditch Rangers like a skid marked face cloth!

SMSM cream themselves and lay petals at the feet of the new messiah, Orcs have a new sugar daddy who is going to sort its all out.

Hector wont go away over the big tax case, MSM say nothing to see here folks move along. Claim by Hector to be HUGE!!!!

Hector wont go away over the wee tax case, MSM say nothing to see here folks move along. but promise of payment still not made

Impending essential stadium maitenance due to start only it does not.

Arsenal shares sold, nothing again to see here move along

PAYE/NIC payments not made still nothing to see here folks

Ticketus......Craigy boy we are getting some money in soon yeah?  yeah yeah yeah, cheque is in the post.

Face painter employed

Nobody gets paid, family silver on ebay (figuratively)

14th Feb Rangers apply for Admin,

Whyte gets in the Administrators of his chosing.

SMSM go into a 404 error....cant compute, cant compute.

Turns out whyte had no pot as a urinal

In rides Green to a massive ovation, keef hails him as the the new messiah, Orcs have a new sugar daddy who is going to sort its all out.

Hector we dont do deals of unpaid tax

Green we will get a CVA over the unpaid tax?

Hector we dont do deals over the unpaid tax

SMSM Green to get CVA over unpaid tax

Green we did not get CVA over unpaid tax...oh dear what a shame?

Green and Whyte for new entity called Sevco 5088

Adminsitrators appoint Green as the prefered bidder

Sevco 5088 get licence as a new club to play in the top flight as though nothing has happened

Admins accept ?5m for the carcass, name, history, but not the debt.

Face painter bemused

MSM apply "Leverage" to ensure Sevco 5088 get to play in the top flight?

Fans apply more leverage to their clubs to ensure that is not happening

Orcs call us all Timmy's

5 way agreement is reached Classified), Sevco Scotland (note name change) starts in the 4th tier as Rangers.

Green does not fulfill his promises

Rangers unable to find proper banking

MA gives them some money

Rangers having issues with the AIMS stock market

Stadium maintenance still not started.

Green runs up debt and spends a fortune to win 4th Tier of Scottish football.

MA and Sports direct gat naming rights, badge and mech deal for next to naff all for 7 years.

Greens cohorts get massive severance payouts

AIMS suspend trading

KING and Concert party buy Rangers from Green

Fat Sally gets put on garening leave at great expence

LSN says no advantage gained from Ragers 11 years of cheating buying players they could not afford (SDM admitted in court)

No nomad to touch Rangers

MSM, King to get NOMAD

NOMADS, err no King cannot be trusted

MSM King to get NOMAD regardless he said so

NO NOMAD Rangers kicked off the stock market

Metro bank take over without any overdraft facilities or lending schemes.

MSM nothing to see here folks move along

King ?30m war chest of his kids inheritance to get out of Championship after finishing 3rd way behind the Famous and even the wee team.

Ops ?18m off the ?30m already spent?

Stadium maintenance still not paid

Unclear if new face painter employed

Courts demand King and his concert party make an offer for all the shares as they have gone over the 30% threshhold,  Final decision made by courts

Courts tell of date that this final offer must be made.

MSM, nothing to see here folks move along.

Date elapsed without offer being made

King I will consider my options for an appeal.

MSM King to appeal

Courts and the City...There is no appeal its gone past that and you will now face court procedings

MSM king to appeal, nothing to  see here folks move along

KING its not in the best interest, so I will ignore the law

MSM. King acting in best interest of the club....bad bad courts and city people.

 

 

Court case against Whyte starts so thats why i never went into too much detail appart from what was in the public domain at the time, more to be said after the trial.  Whyte denies all charges.

 

SDM admits they cheated under oath

SDM denies talking admin under oath

SDM people discussed admin under oath

Lloyds did not care about Rangers nor football only they wanted their money back and applied leverage under oath

This negotiation tactic by Lloyds involved removing overdtaft facilty and making directors liable for trading while insolvent..under oath

Considered removing directors altogether if the sale did not go through..under oath

 

 

So Rangers were in all aspects were under the banks control so in effective administration  FFP rules?  and SDM "its all everybody elses fault"

 

When you consider this huge cast and not one good guy?   Ahmed, the Driscoll Brothers, the Aint Half hot mum concert party, Fhudd and Phlem (note might be involved in court case?)

 

Sorry court cases?

 

But is that a rough time line?  I would love a full transcript of this thread, so as to prove the Internet bampots were right most of the time while the media failed

 

and the Rangers fans let their club die, and whats worse is the Media and the fans are heading full steam into Admin v2,  but hey ho No Surrender!!!

 

Brilliant Post.

 

The part highlighted though   Love it.

Edited May 3, 2017 by Pans Jambo

[Drewboy]

...and the Rangers fans let their club die, and whats worse is the Media and the fans are heading full steam into Admin v2, but hey ho No Surrender!!!

Compulsive reading. Excellent summary but you forgot "WATP"

 

 

Sent from my iPhone using Tapatalk

Edited May 3, 2017 by Drewboy

[Hashimoto]

Brilliant HtH.....Simply brilliant!....Thank you for putting together this brief, albeit sordid history of the good ship SEVCO.....Well worth national publication.

[DETTY29]

Hagar,

 

I'll not quote you but Sportsound were going to talk last night on what it would need to take to sort Rangers out.

 

I sent them a text, which I doubt would be read out (I stopped listening at 7) along the lines that there is no point discussing Rangers and what it takes unless you are prepared to look at the whole picture as to how Rangers were run from the moment Murray took over (in 1988) including business models, tax cases, football governance, LNS 'fix' to protect dozens of folk in the game, the media and the various takeovers.

 

Simply, they have been one big fraud for coming on 30 years.

Edited May 3, 2017 by DETTY29

[jambovambo]

1. 1.  James Doleman? @jamesdoleman 17m17 minutes ago
2. 1. Findlay "the other shareholders are getting nothing?' Shanks: "If you put it like that" Findlay: "I just did" #WhyteTrial
   1. 7 replies 17 retweets 24 likes
   2.  
   3. Findlay suggests there would be a benefit to David Murray from sale of Rangers Shanks "That was always the agreement in Project Charlotte"
3.  

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[LeftBack]

I am in a similar position, and triggered by not only being cheated by the Davisgate scandal, but to have also been cheated by a team with players stacked up using financial doping.  But also this is just an amazing soap played out in public, but with the priciple protagonists turning out to be the villians rather than the heroes, its Like the Jedi are just a gang of drug dealers. The SMSM just cannot cope with their heroes are actually the bad guys and corrupts to the core.

 

What is clear from what was in the public domain at the time, and the eveidence so far is that its clear that:

 

Rangers and MIM/MIH were running up dedts that concered Lloyds

Lloyds needed to put their own man on the board and applied "leverage" Their words

The debt was brought to ?18m

The wee tax case was still an issue

The stadium maintenance had slipped.

Bombshell...SDM had cheated the whole of Scottish football with a tax avoidance scheme.

Hid dual contracts from the SFA/SPL

Hector wanted their coin to the tune of ?????millions

The bank had to get out of dodge

For sale signs went up

No buyers willing to gamble on Rangers being a going concern

In walks Whyte a little known asset stripper who has a record of buying failed business

Whyte pays a fortune to have his online footprint errased

Keef did his extensive research and annouced the new messiah as being a billionair with off the radar wealth.

Lloyds are sceptical about this eejit but need their money back

SDM dragging his erse about the ground trying to get a dignified way out.

Whyte does not think big tax case is a problem, cares not a jot.  SMSM rejoice.

Whyte does a deal between Octopus/Ticketus and wavetower to borrow ?25m using ?50m of season ticket money to repay the loan?

Ticketus  give him the money (no questions asked?)  hopefully their rationalle with be questioned during this trial?

Lloyds using a negotiation tactic (again their words)  to apply leverage to ensure the deal goes through or the overdraft will be stopped

Rangers board are now aware they could be banned as directors for trading while insolvent (from yesterdays evidence).

AJ causing problems on the board.

Lloyds consider replacing the board

March 2011, Rangers consider pre-pack admin

Senior people discuss admin but for some reason dont mention this word to SDM????

May 2011 SDM accepts the Whyte deal for ?1   and Lloyds get their ?18m, and ditch Rangers like a skid marked face cloth!

SMSM cream themselves and lay petals at the feet of the new messiah, Orcs have a new sugar daddy who is going to sort its all out.

Hector wont go away over the big tax case, MSM say nothing to see here folks move along. Claim by Hector to be HUGE!!!!

Hector wont go away over the wee tax case, MSM say nothing to see here folks move along. but promise of payment still not made

Impending essential stadium maitenance due to start only it does not.

Arsenal shares sold, nothing again to see here move along

PAYE/NIC payments not made still nothing to see here folks

Ticketus......Craigy boy we are getting some money in soon yeah?  yeah yeah yeah, cheque is in the post.

Face painter employed

Nobody gets paid, family silver on ebay (figuratively)

14th Feb Rangers apply for Admin,

Whyte gets in the Administrators of his chosing.

SMSM go into a 404 error....cant compute, cant compute.

Turns out whyte had no pot as a urinal

In rides Green to a massive ovation, keef hails him as the the new messiah, Orcs have a new sugar daddy who is going to sort its all out.

Hector we dont do deals of unpaid tax

Green we will get a CVA over the unpaid tax?

Hector we dont do deals over the unpaid tax

SMSM Green to get CVA over unpaid tax

Green we did not get CVA over unpaid tax...oh dear what a shame?

Green and Whyte for new entity called Sevco 5088

Adminsitrators appoint Green as the prefered bidder

Sevco 5088 get licence as a new club to play in the top flight as though nothing has happened

Admins accept ?5m for the carcass, name, history, but not the debt.

Face painter bemused

MSM apply "Leverage" to ensure Sevco 5088 get to play in the top flight?

Fans apply more leverage to their clubs to ensure that is not happening

Orcs call us all Timmy's

5 way agreement is reached Classified), Sevco Scotland (note name change) starts in the 4th tier as Rangers.

Green does not fulfill his promises

Rangers unable to find proper banking

MA gives them some money

Rangers having issues with the AIMS stock market

Stadium maintenance still not started.

Green runs up debt and spends a fortune to win 4th Tier of Scottish football.

MA and Sports direct gat naming rights, badge and mech deal for next to naff all for 7 years.

Greens cohorts get massive severance payouts

AIMS suspend trading

KING and Concert party buy Rangers from Green

Fat Sally gets put on garening leave at great expence

LSN says no advantage gained from Ragers 11 years of cheating buying players they could not afford (SDM admitted in court)

No nomad to touch Rangers

MSM, King to get NOMAD

NOMADS, err no King cannot be trusted

MSM King to get NOMAD regardless he said so

NO NOMAD Rangers kicked off the stock market

Metro bank take over without any overdraft facilities or lending schemes.

MSM nothing to see here folks move along

King ?30m war chest of his kids inheritance to get out of Championship after finishing 3rd way behind the Famous and even the wee team.

Ops ?18m off the ?30m already spent?

Stadium maintenance still not paid

Unclear if new face painter employed

Courts demand King and his concert party make an offer for all the shares as they have gone over the 30% threshhold,  Final decision made by courts

Courts tell of date that this final offer must be made.

MSM, nothing to see here folks move along.

Date elapsed without offer being made

King I will consider my options for an appeal.

MSM King to appeal

Courts and the City...There is no appeal its gone past that and you will now face court procedings

MSM king to appeal, nothing to  see here folks move along

KING its not in the best interest, so I will ignore the law

MSM. King acting in best interest of the club....bad bad courts and city people.

 

 

Court case against Whyte starts so thats why i never went into too much detail appart from what was in the public domain at the time, more to be said after the trial.  Whyte denies all charges.

 

SDM admits they cheated under oath

SDM denies talking admin under oath

SDM people discussed admin under oath

Lloyds did not care about Rangers nor football only they wanted their money back and applied leverage under oath

This negotiation tactic by Lloyds involved removing overdtaft facilty and making directors liable for trading while insolvent..under oath

Considered removing directors altogether if the sale did not go through..under oath

 

 

So Rangers were in all aspects were under the banks control so in effective administration  FFP rules?  and SDM "its all everybody elses fault"

 

When you consider this huge cast and not one good guy?   Ahmed, the Driscoll Brothers, the Aint Half hot mum concert party, Fhudd and Phlem (note might be involved in court case?)

 

Sorry court cases?

 

But is that a rough time line?  I would love a full transcript of this thread, so as to prove the Internet bampots were right most of the time while the media failed

 

and the Rangers fans let their club die, and whats worse is the Media and the fans are heading full steam into Admin v2,  but hey ho No Surrender!!!

Compulsive reading - deserves a Pulitzer. I genuinely get more of this now than at any other point! I think the 'move on, nothing to see here' line is exactly the stance taken by many involved and hopefully they will all be held to account, including the media.

[swavkav]

SDM getting it handed to him on a steel platter.

[Hazzaru]

reading Downfall by Phil MacGiollBhain, great read and truly shows up just what was happening at Rangers 1872 prior to 14th Feb. all the stuff coming from the court case was reported \ blogged by Phil and the media chose to ignore it and feed the poor bears the narrative that a saviour was coming over the horizon!!!!!

 

must read for all football fans!!!

 

[I.T.K]

Hagar,

 

I'll not quote you but Sportsound were going to talk last night on what it would need to take to sort Rangers out.

 

I sent them a text, which I doubt would be read out (I stopped listening at 7) along the lines that there is no point discussing Rangers and what it takes unless you are prepared to look at the whole picture as to how Rangers were run from the moment Murray took over (in 1988) including business models, tax cases, football governance, LNS 'fix' to protect dozens of folk in the game, the media and the various takeovers.

 

Simply, they have been one big fraud for coming on 30 years.

 

 

That's a really good point. 

[jambo007]

 

Hagar the Horrible Brilliant summary ,fantastic read !! 

 

[Strachsuit]

Story so far today: Murray was trying to offload RFC because there was an agreement from LBG that so long as he did (and they got full debt repayment), they would release Murray Metals from MIH. 

 

As we all know, SDM wanted out. And it appears he's done everything he can to find a patsy in CW to offload the basket case to him. Craigy boy might just might get away with this you know. 

[tcjambo]

Story so far today: Murray was trying to offload RFC because there was an agreement from LBG that so long as he did (and they got full debt repayment), they would release Murray Metals from MIH.

 

As we all know, SDM wanted out. And it appears he's done everything he can to find a patsy in CW to offload the basket case to him. Craigy boy might just might get away with this you know.

Strikes me that the prosecution are in a win-win here. Even if the case against CW proves unsuccessful they are going to get a huge number of the actors in this soap to testify under oath. Other prosecutions could follow. Maybe this was the calculation all along by the Fiscal's Office?

[Hagar the Horrible]

careful not to discuss Whyte just now, I think that some of the outcomes will be, SDM was not duped as quoted (LIAR LIAR pants on FIRE!)  We might just might as per Mad Bomber Broons chants find out Wherez ra deeds?  We might just find out more abouts Whytes departure and involvement with Green "Sevco 5088", but as the case is to do with the fakeover, but hopefully prove that Whyte still has Ra Deedz, and Zombieco are a Pheonix company. we might find out who Charlote Fakes is?  but as the movie needs to know the facts this saga still has a long way to go, hopefully all the truth will come out?   notwithstanding the current regime driving towards the same precipice and will the next regime be just another group of spivery exploiting Rangers 3.0? 

 

As it stands in boxing parlance DF is winning the opening rounds, the PF is conserving energy no doubt and we are back on

[Deevers]

Strikes me that the prosecution are in a win-win here. Even if the case against CW proves unsuccessful they are going to get a huge number of the actors in this soap to testify under oath. Other prosecutions could follow. Maybe this was the calculation all along by the Fiscal's Office?

What we want is the case to continue so that the defence have to produce their witnesses and evidence. Don't want the case folding before that. The defence case will be real "popcorn" time.

[Strachsuit]

Strikes me that the prosecution are in a win-win here. Even if the case against CW proves unsuccessful they are going to get a huge number of the actors in this soap to testify under oath. Other prosecutions could follow. Maybe this was the calculation all along by the Fiscal's Office?

 

Possibly.

 

What we want is the case to continue so that the defence have to produce their witnesses and evidence. Don't want the case folding before that. The defence case will be real "popcorn" time.

 

Totally agree. Want it to continue on the soap opera theme until the really juicy details are laid bare. It's already gripping stuff!

Edited May 3, 2017 by Strachsuit

[Hagar the Horrible]

David Henderson? @DJSHenderson 4m4 minutes ago

 

 

DF: technically speaking you're not supposed to operate a business if its insolvent. IS: correct.

 

 

smoking gun alert?????

[Jambo-Jimbo]

 

In walks Whyte a little known asset stripper who has a record of buying failed business

Whyte pays a fortune to have his online footprint errased

Keef did his extensive research and annouced the new messiah as being a billionair with off the radar wealth.

 

Excellent post mate, but you've missed one IMO vital piece of information which gets overlooked constantly.

 

As much as Whyte tried to conceal his past he couldn't hide the fact that he'd been disqualified as a company director for 7 years.

 

Keef, Lloyds, SDM & Dave King would have all known that or should have if they had looked into Whyte as they were duty bound to do as a matter of course, due diligence and all that.

 

But SDM still sold the club to a man who was a known asset stripper and a guy who'd recently served a 7 year company director ban.

[Hagar the Horrible]

Excellent post mate, but you've missed one IMO vital piece of information which gets overlooked constantly.

 

As much as Whyte tried to conceal his past he couldn't hide the fact that he'd been disqualified as a company director for 7 years.

 

Keef, Lloyds, SDM & Dave King would have all known that or should have if they had looked into Whyte as they were duty bound to do as a matter of course, due diligence and all that.

 

But SDM still sold the club to a man who was a known asset stripper and a guy who'd recently served a 7 year company director ban.

I could have added into the time line:

 

SDM "I was duped".

MSM "Good guy SDM duped" Move along folks nothing to see here!

Bomber "Wherz ra deeds"

MSM Bomber tries to buy Rangers

MSM Bomber pictured with a pensioner handing over cash to Bomber to buy Rangers

MSM.... well only they could put a positive spin on the scenario of taking money from a pensioner.

 

Also

 

Green we will do a deal with the Dallas Cowboys

MSM Rangers do deal with Dallas Cowboys which will get them back to the top?

Dallas Cowboys...WTF who? when? what? Where..  No F-ing way

 

And a massive list of outragous moonbeams by Green posted verbatum by Keef and his MSM

 

Not to mention The 3 bears bid, some off the radar yanks bid, yada yada yada  Ng's bid?  something like that

D&P  Green's bid for a CVA is the only show in town and will be the preferred bidder

MSM, woohoo Green wins (or incert name of winner here)

[...a bit disco]

James Doleman? @jamesdoleman  3m3 minutes ago

More

Letter continues "The carnage left by Lloyd's policies and the impoverished remains of Rangers Football Club"

 

[buzzbomb1958]

 

David Henderson? @DJSHenderson 4m4 minutes ago

 

 

 

 

 

 

DF: technically speaking you're not supposed to operate a business if its insolvent. IS: correct.

 

 

smoking gun alert?????

Wait for it....kahboom

[...a bit disco]

I could have added into the time line:

 

SDM "I was duped".

MSM "Good guy SDM duped" Move along folks nothing to see here!

Bomber "Wherz ra deeds"

MSM Bomber tries to buy Rangers

MSM Bomber pictured with a pensioner handing over cash to Bomber to buy Rangers

MSM.... well only they could put a positive spin on the scenario of taking money from a pensioner.

 

Also

 

Green we will do a deal with the Dallas Cowboys

MSM Rangers do deal with Dallas Cowboys which will get them back to the top?

Dallas Cowboys...WTF who? when? what? Where..  No F-ing way

 

And a massive list of outragous moonbeams by Green posted verbatum by Keef and his MSM

 

Not to mention The 3 bears bid, some off the radar yanks bid, yada yada yada  Ng's bid?  something like that

D&P  Green's bid for a CVA is the only show in town and will be the preferred bidder

MSM, woohoo Green wins (or incert name of winner here)

 

Any excuse for...

 

[...a bit disco]

James Doleman? @jamesdoleman  7m7 minutes ago

More

Witness being shown transcript of interview with Alistair Johnson says he was told "The Murray group is heavily incentiveised to sell club"

#

James Doleman? @jamesdoleman  6m6 minutes ago

More

Johnson interview continues "The bank wanted all the money, they wouldn't let Rangers off..it would be a precedent. blah blah blah '

 

James Doleman? @jamesdoleman  4m4 minutes ago

More

Johnson interview "I was told if acts would be performed on me that hadn't been performed on anyone in Scotland since 15th century'

 

1/2

 

James Doleman? @jamesdoleman  5m5 minutes ago

More

Findlay comments "The mind boggles"

 

2/2

 

James Doleman? @jamesdoleman  4m4 minutes ago

More

Shanks says he "can't comment on the 15th century thing" Last Stacey "You can comment if you said that" Shanks "I never said that" 1/2

 

James Doleman? @jamesdoleman  3m3 minutes ago

More

Shanks adds "I did say I would withdraw the credit line" Findlay "It's fantastical nonsense isn't it"

 

2/2

 

James Doleman? @jamesdoleman  1m1 minute ago

More

Findlay on Johnson "He was extending his chief executive's contract, giving him pay rises and talking nonsense about 15th century?" Agreed

 

 

 

Absolute nonsense!

[Hagar the Horrible]

I wonder if The AJ interview being presented to IS, is DF is trying to discredit AJ before he gives any evidence?  as nonsence? 

 

does look like AJ will chuck SDM under a bus based on the 2012 radio interview? that must play out later as why is DF making it relevent now?

[LeftBack]

I could have added into the time line:

 

SDM "I was duped".

MSM "Good guy SDM duped" Move along folks nothing to see here!

Bomber "Wherz ra deeds"

MSM Bomber tries to buy Rangers

MSM Bomber pictured with a pensioner handing over cash to Bomber to buy Rangers

MSM.... well only they could put a positive spin on the scenario of taking money from a pensioner.

 

Also

 

Green we will do a deal with the Dallas Cowboys

MSM Rangers do deal with Dallas Cowboys which will get them back to the top?

Dallas Cowboys...WTF who? when? what? Where..  No F-ing way

 

And a massive list of outragous moonbeams by Green posted verbatum by Keef and his MSM

 

Not to mention The 3 bears bid, some off the radar yanks bid, yada yada yada  Ng's bid?  something like that

D&P  Green's bid for a CVA is the only show in town and will be the preferred bidder

MSM, woohoo Green wins (or incert name of winner here)

Remember this http://www.dailyrecord.co.uk/sport/football/football-news/rangers-crisis-charles-green-gives-5011017