TheWeeBlueDevil 0 Posted June 10, 2012 Share Posted June 10, 2012 (edited) But I very much doubt that Mr Green has lied about putting ST moneys into an escrow account . Edited June 10, 2012 by TheWeeBlueDevil 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted June 10, 2012 Share Posted June 10, 2012 I mean the money is there to meet the cost not that it's already been paid . TBH Im not the right person to debate this with you because I simply dont know enough about the process to do so . Fair enough, but the means exists in the CVA proposal for season ticket monies to be used to meet trading costs despite what Green says. 0 Quote Link to post Share on other sites More sharing options...
TheWeeBlueDevil 0 Posted June 10, 2012 Share Posted June 10, 2012 (edited) Fair enough, but the means exists in the CVA proposal for season ticket monies to be used to meet trading costs despite what Green says. If Green already has the money in place to meet the CVA trading cost, meaning there is no reason for the admins to request money from the account then he is not Contradicting himself. Having the money to meet the cost rules out the means for money from the account to be used . Edited June 11, 2012 by TheWeeBlueDevil 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted June 10, 2012 Share Posted June 10, 2012 But I very much doubt that Mr Green has lied about putting ST moneys into an escrow account . From the CVA proposal. It's pretty clear and self-explanatory. 5.14 During this period from 6 June 2012, a number of receipts may be received by the Company, in respect of: 5.14.1 Outstanding Player Transfer Fees; 5.14.2 The sales of season tickets for Ibrox Stadium, in respect of the 2012/13 season; 5.14.3 player transfer fees with respect to players sold after 12 May 2012; and 5.14.4 the proceeds of sums due from the SPL together with any broadcasting monies payable to the Company. 5.15 In accordance with the Offer Letter, any monies received in respect of paragraphs 5.14.2 and 5.14.3 will be paid into a bank account (―the Account‖) held by the Joint Administratorsâ?? solicitors and it is intended that the monies in the Account will be an Excluded Asset as provided in paragraph 5.11 above. However, in the event that the Companyâ??s trading revenue is insufficient to meet the CVA Trading Costs, and subject to the appointment of Charles Green being made in accordance with paragraph 4.21, the Joint Administrators may request Sevco to consent (such consent not to be unreasonably withheld) to the use of monies in the Account to meet the CVA Trading Costs, as is anticipated. If Green already has the money in place to meet the CVA trading cost, meaning there is no reason for the admins to request moneys from the account then he is not Contradicting himself. Having the money to meet the cost rules out the means for moneys from the account to be used . The CVA proposal clearly states where the money will go and what can be done with the money, are you claiming the CVA proposal is false? 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted June 10, 2012 Share Posted June 10, 2012 I may have missed something here..... We are talking about money due to the club for player sales & season tickets. Would this money not normally be used to fund the running of the club? However, everyone seems to be up in arms IF either admins or CG use any of this cash for the purpose it intended.... 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted June 10, 2012 Share Posted June 10, 2012 I may have missed something here..... We are talking about money due to the club for player sales & season tickets. Would this money not normally be used to fund the running of the club? However, everyone seems to be up in arms IF either admins or CG use any of this cash for the purpose it intended.... I've been wondering about this myself. I don't understand why there would be any problem with season ticket money being used to run the club. As long as it isn't being used to help fund the takeover then surely there isn't an issue? 0 Quote Link to post Share on other sites More sharing options...
TheWeeBlueDevil 0 Posted June 10, 2012 Share Posted June 10, 2012 From the CVA proposal. It's pretty clear and self-explanatory. The CVA proposal clearly states where the money will go and what can be done with the money, are you claiming the CVA proposal is false? Mr Green gave an interview where he said that ST money will be put into an escrow account and would not be used to pay the cost of the CVA trade, in the interview he was not going over the fine details of the CVA . The CVA says .. However, in the event that the Company‘s trading revenue is insufficient to meet the CVA Trading Costs, and subject to the appointment of Charles Green being made in accordance with paragraph 4.21, the Joint Administrators may request Sevco to consent (such consent not to be unreasonably withheld) to the use of monies in the Account to meet the CVA Trading Costs, as is anticipated. Green assures us that he has the funds to meet the trading cost , if that's true then then there is no means for the administrators to request money from the account . With the funds for the trade already secured Green was perfectly right (without going into fine details of the CVA) to say that season ticket money would be paid into a safe account and that he could not get his mits on it ... That is what im saying , im not saying the CVA proposal is false. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted June 10, 2012 Share Posted June 10, 2012 Mr Green gave an interview where he said that ST money will be put into an escrow account and would not be used to pay the cost of the CVA trade, in the interview he was not going over the fine details of the CVA . The CVA says .. However, in the event that the Companyâ??s trading revenue is insufficient to meet the CVA Trading Costs, and subject to the appointment of Charles Green being made in accordance with paragraph 4.21, the Joint Administrators may request Sevco to consent (such consent not to be unreasonably withheld) to the use of monies in the Account to meet the CVA Trading Costs, as is anticipated. Green assures us that he has the funds to meet the trading cost , if that's true then then there is no means for the administrators to request money from the account . With the funds for the trade already secured Green was perfectly right (without going into fine details of the CVA) to say that season ticket money would be paid into a safe account and that he could not get his mits on it ... That is what im saying , im not saying the CVA proposal is false. If that was indeed the case then there would be no need to have that caveat included in the CVA proposal, it wasn't inserted for fun it was inserted for a reason. 0 Quote Link to post Share on other sites More sharing options...
TheWeeBlueDevil 0 Posted June 10, 2012 Share Posted June 10, 2012 If that was indeed the case then there would be no need to have that caveat included in the CVA proposal, it wasn't inserted for fun it was inserted for a reason. Maybe that was included in the proposal before Green had the full funding in place, to cover any shortfall. I honestly dont know but Green says the full funding is now in place and the season ticket money is not needed for the CVA trade . I dont see what the problem is . 0 Quote Link to post Share on other sites More sharing options...
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