simplythebest 0 Posted October 19, 2012 Share Posted October 19, 2012 If Lord Hodge signs off on Duff and Phelps and not until then we can breathe a lot easier, people seem to be unaware that the on-going is how Whyte makes a very good living at other peoples expense. Whyte is a lot of things a victim or a court jester is neither. I think you're worrying too much about Lord Hodge and BDO frost. 0 Quote Link to post Share on other sites More sharing options...
54andcounting 0 Posted October 19, 2012 Share Posted October 19, 2012 If Rangers fans produced a banner tomorrow of Whyte crawling out of the ground with a hooded gunman waiting to shoot him...would that be deemed offensive? 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted October 19, 2012 Share Posted October 19, 2012 As far as I'm aware, Whyte isn't owed anything by Oldco. There's nothing evident in the creditors report and there's no apparent reason for him to be owed anything. This makes the security worthless and an irrelevance. This is something which I'm unsure about, but maybe you know BD. Should Duff & Phelps not have applied to the court to have the various securities scratched off and put fully into their hands before the sale of the club? Did they do that? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 19, 2012 Share Posted October 19, 2012 This is something which I'm unsure about, but maybe you know BD. Should Duff & Phelps not have applied to the court to have the various securities scratched off and put fully into their hands before the sale of the club? Did they do that? they didn't. I wonder if they feared the outcome. will be very interesting to see if this does stand up. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted October 19, 2012 Share Posted October 19, 2012 they didn't. I wonder if they feared the outcome. will be very interesting to see if this does stand up. As far as I know, the way it works is that the administrators wouldn't even have needed to go to court regarding Whyte's securities/charges if he had given them documented consent to sell all of the assets or had signed them over to Green's consortium, but if he did neither of those, then the administrators would have had to undertake legal proceedings and go to court in respect of the secured assets. The way things were handled by Duff & Phelps together with claims by Charles Green regarding a written agreement with Whyte certainly suggested that everything had been dealth with and that it was a complete consensual sale of everything, but there remains a question as to why Whyte would be saying he still holds a security if that had been the case...... 0 Quote Link to post Share on other sites More sharing options...
frost 0 Posted October 19, 2012 Share Posted October 19, 2012 Whyte legally transferred all the assets of The Rangers FC Group Limited to Liberty Corporate Ltd by use of form MG01, the administrators have never attempted to challenge this document. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted October 19, 2012 Share Posted October 19, 2012 Whyte legally transferred all the assets of The Rangers FC Group Limited to Liberty Corporate Ltd by use of form MG01, the administrators have never attempted to challenge this document. Despite that transfer made by Whyte, what I posted above still applies as far as I know. The administrators would have no need to challenge anything if the sale of the club and all assets to Green's consortium was consensual and properly documented. If it wasn't, then that's when Duff & Phelps would have needed to go to court regarding the secured assets. 0 Quote Link to post Share on other sites More sharing options...
frost 0 Posted October 19, 2012 Share Posted October 19, 2012 Duff and Phelps dismissed Whyte as an irrelevance on more than one occasion, things are about to get very interesting I would hazard and perhaps very uncomfortable for the administrators, who appear to also think that properly and legally lodged asset transfers are of no account. 0 Quote Link to post Share on other sites More sharing options...
North Rd 0 Posted October 19, 2012 Author Share Posted October 19, 2012 Someone gives their slant on it all http://scotslawthoughts.wordpress.com/ Too deep for me to fathom. 0 Quote Link to post Share on other sites More sharing options...
Thinker 884 Posted October 19, 2012 Share Posted October 19, 2012 Someone gives their slant on it all http://scotslawthoughts.wordpress.com/ Too deep for me to fathom. I'm no legal or financial wizard but it doesn't seem like Imran's got a particularly good track record... Slightly concerned - it would be good to get some more info on the man. 0 Quote Link to post Share on other sites More sharing options...
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