der Berliner 3,234 Posted November 14, 2014 Share Posted November 14, 2014 Even if fraud is proved, it changes nothing, the debts that brought about administration and liquidation were due to innocent third parties.. The liquidation can't be reversed, unless someone is willing to pump in a huge amount of money to pay off the debts and expenses. Interesting. Last report from BDO is of May this year. Is anyone* able to squeeze out the amount of debt BDO is handling here, i.e. the money that needs to be paid, recovered, or both, to keep oldco in existence? Report to creditors may 2014 (opens pdf) *No time now, off to work ... 0 Quote Link to post Share on other sites More sharing options...
buster. 4,808 Posted November 14, 2014 Share Posted November 14, 2014 From today's press conference: Ally McCoist said: "Obviously I can't or wouldn't comment on a current police matter, but I would have to say I'm shocked." I reckon it's probably more shock (or pleasent surprise) at them getting pulled in. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted November 14, 2014 Share Posted November 14, 2014 I have a feeling that Greenco's actions were just reprehensible rather than criminal. The real crime was committed by Whyte and those who brought about the circumstances of him being there. They were to launder it for white. Reprehensible sure. Legal I doubt it. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted November 14, 2014 Share Posted November 14, 2014 Hard to say that when competing bidding parties were tabling such God awful rivaling bids, TBK and Kennedy's last ditch offer was excruciatingly bad. The night Kennedy spoke of "blood on their hands" with regards to Clark and Whitehouse I was still shell shocked at how poor the terms of their bid were to figure out what he meant. In the end tbk bid was worth 16k less than greens to creditors. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted November 14, 2014 Share Posted November 14, 2014 Then surely MIH would take the bite for that as they ran the EBT scheme? Depends on the tax case appeal. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,234 Posted November 14, 2014 Share Posted November 14, 2014 Seems to cause an uproar of univers-al proportions, maybe it's Whyte's hiding place. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted November 14, 2014 Share Posted November 14, 2014 Word was at the time that HMRC was doing their utmost to get their own people in, one more trick Whyte played on them. Any news how Ticketus try to enforce the 18m bill on him, or why he's still not behind bars because of that? The liquidator of Liberty Capital in the BVI recently raised over £1m by selling shares in the Worthington Group just prior to Worthington Group shares being suspended, the timing seeming almost unbelievably fortuitous whether the liquidator was appointed at the request of Whyte or Ticketus I'm not sure but the liquidator Stuart Mackellar was joint liquidator of MFI with a certain Paul Clark. No doubt just another one of those strange coincidences in the whole sorry saga.... http://www.caribbean.zolfocooper.com/our-people/stuart-mackellar 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted November 14, 2014 Share Posted November 14, 2014 It's a complicated situation, but if oldco was taken out of liquidation and an illegal takeover confirmed, if somehow the club fell under the governance of oldco again, the HMRC ongoing appeal, if won, could have greater consequences than has been generally anticipated. I'm not stating facts here - just speculating on the various possibilities that could come into play. I've suggested that to others as well who discussed the possibility of oldco being reinstated in the event fraud is proven and the total fines cover the creditors bill. Probably too good to be true but goimg back to the oldco would delight me. Saddest was liquidation. 0 Quote Link to post Share on other sites More sharing options...
Hildy 0 Posted November 14, 2014 Share Posted November 14, 2014 I've suggested that to others as well who discussed the possibility of oldco being reinstated in the event fraud is proven and the total fines cover the creditors bill. Probably too good to be true but goimg back to the oldco would delight me. Saddest was liquidation. Just today I saw an article in the Telegraph about Aberdeen's fortunate windfall, and it mentioned "Rangers 2" eventually returning to the top tier: 'the eventual return of Rangers 2 to the top flight' The liquidation process has been enormously damaging. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted November 14, 2014 Share Posted November 14, 2014 Craig Whyte facing arrest: Crown Office to issue warrant for shamed former @RangersFC owner dlyr.ec/ES5JKv pic.twitter.com/LnmuBg1JBK http://www.dailyrecord.co.uk/news/scottish-news/craig-whyte-facing-arrest-crown-4628861 0 Quote Link to post Share on other sites More sharing options...
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