Dave King Calls For Fans not to support CVA Deal

[UCF2008 0]

Dave Kings said from square one that he thought liquidation was 'inevitable' and that a CVA route wasn't a feasible solution to the clubs situation. Whether he would have released this statement if TBK's had won is debatable.

 

I find it interesting that given he felt liquidation was the only eventuality, why the nonsense claim to Whyte's shareholding? You know he's lacking support to his claim when he has to resort to Elis to back it up. Also, are the shares (including his existing shareholding) not worthless in the event of liquidation?

 

Then there's his claim over his investment which has now gone from proposed legal proceedings against Murray to a claim against the club. What effect would this have on his (TBC) creditor status in the CVA?

[kuznetsov 0]

He is a friend of TBK's is he not?

[UCF2008 0]

He is a friend of TBK's is he not?

 

Supposedly. I do find it bizarre that Paul Murray's been risking derailing the CVA by calling for D&P to be replaced and now this. Going by DK's statements regarding Green's deal for Whyte's shareholding he's pretty much saying that TBK's deal for the shares was also worthless.

[forlanssister 3,050]

He is a friend of TBK's is he not?

 

But he also flies solo.

[UCF2008 0]

1. It is clear from the CVA proposal that Mr Green intends to repeat Mr Whyte’s strategy of using season ticket sales to fund the club. This would put fans back in the position of funding the club without owning it.

 

There's been plenty of debate on this one already since the CVA revealed the 'loan' aspect, but apart from the difference of the fans funding the running of the club as opposed to the purchase itself, what club doesn't use season ticket monies to fund running costs?

[54andcounting 0]

..... what club doesn't use season ticket monies to fund running costs?

 

Rangers?

[foggy dewhurst 0]

its all very confusing

[simplythebest 0]

He has no business coming out with this stuff when he has no alternative suggested.

[CumbernauldGers 0]

More bluster from a guy as dodgy as CW and DM.

 

Telling fans not to put money into the club and going to sue the club, aye sounds a good Rangers man.

 

Remember he was going to sue DM for the same money, just another that likes to look important that is a really just a part of our bad past. Bet the media here could not lap this up anymore if they tried.

[UCF2008 0]

4. If it becomes necessary for me to prove my claim I intend to enlist the support of the other fans, like me, who are shareholders in order to ensure that we are all considered and represented. I further advised Duff & Phelps that any proceeds received in respect of my claim will be reinvested, in full, back into the club. I am sure that all other aggrieved investors (that are fans) will do likewise. This will ensure that a substantial portion of the funds used to acquire the club will still be available to invest in its future.

 

Is he suggesting here that shareholders should be considered creditors in the CVA? Would that not basically relinquish their shareholding to Sevco when otherwise a successful CVA would see them maintain their shareholding?