SDM Hits Out At King

[RANGERRAB 3,258]

Anyone wanting to understand LBG's attitude towards the sale of RFC, merely needs to consider the potential PR and commercial disaster which would have unfolded if they'd been in the position of having to put us into Administration and ultimately cause the sale of Ibrox under the Bond and Floating Charge they held over the Club's assets.

 

Remember, there was a massive contingent liability hanging over the Club at the time, putting off all buyers, as there was no way that RFC could have traded out of the situation if HMRC had won. SDM had been trying to sell for years and NO-ONE was interested.

 

So, £18m would have been a rounding error compared to financial impact that PR nightmare would have caused LBG.

 

Rather than ask why LBG were so keen on Whyte, ask why were they so keen for someone, anyone, to buy us and clear the bank debt?

 

Follow the money indeed.

 

LBG remained Rangers bankers after Whyte took over.

Had the BTC been lost then it was no fault of LBG was it?

 

Was it not the case that SDM was told if he didn't sell to Whyte all bank credit to MIH would be withdrawn?

That doesn't sound to me like the actions of a bank trying to help a struggling business.

 

Why were they so keen for SDM to sell Rangers to virtually anybody, even Whyte, whose background should have been well known about?

[the gunslinger 3,366]

LBG remained Rangers bankers after Whyte took over.

Had the BTC been lost then it was no fault of LBG was it?

 

Was it not the case that SDM was told if he didn't sell to Whyte all bank credit to MIH would be withdrawn?

That doesn't sound to me like the actions of a bank trying to help a struggling business.

 

Why were they so keen for SDM to sell Rangers to virtually anybody, even Whyte, whose background should have been well known about?

 

read it again. they may have remained our bankers but they no longer had a floating charge on our assets.

[jhunter 0]

This is an interesting point because there's still a LOT of the obsessed ones out there taking action that appears to be above and beyond reaction and more in the realm of repeated proactive attacks.

 

The type I'm talking about not only discuss Rangers every single day, but spend their lives investigating us, using every minute of their spare time to look under rocks for a shred of evidence that could see our history severed, titles stripped or harm our Club in other ways.

 

They are actively (at this very moment and for several months now) pursuing a new line of attack involving certain EBTs they claim weren't disclosed during the previous SPL legal case regarding title stripping, writing letters to 'certain' law firms, the SFA, SPFL and god knows what else.

 

These aren't just your average bead and sabre-rattling Rangers hating nutters. These people are obsessed and on a crusade.

 

First i've heard of this, do you have any more detail?

[Mountain Bear 0]

LBG remained Rangers bankers after Whyte took over.

Had the BTC been lost then it was no fault of LBG was it?

 

Was it not the case that SDM was told if he didn't sell to Whyte all bank credit to MIH would be withdrawn?

That doesn't sound to me like the actions of a bank trying to help a struggling business.

 

Why were they so keen for SDM to sell Rangers to virtually anybody, even Whyte, whose background should have been well known about?

 

The bank had an opportunity to recover its money from a business which was in very real peril, without having to do so via the forced sale of Its iconic stadium.

 

It's a no brainer.

[Super Cooper 0]

what about human nature..................if YOU were in a position to stick it to the tims.........what would YOU do !

 

I couldn't help myself.........I'd slip the stiletto between their ribs no sweat

 

 

ahh well.....fantasy over !

 

I would do all I could and everything in my power to harm them whilst trying my hardest to cover it up and not get caught. And I don't consider myself as hate filled or bigoted as old school allegedly oppressed and persecuted Irish bigots.

 

Fwiw, it was Merlin the bringer of truth who claimed he had interviewed Fullerton and was given proof that he has nothing to do with Rangers account at LBG.

[RANGERRAB 3,258]

The bank had an opportunity to recover its money from a business which was in very real peril, without having to do so via the forced sale of Its iconic stadium.

 

It's a no brainer.

 

By forcing its sale to a charlatan like Whyte ??? You're haven' a laugh here aren't you?

[Zappa 0]

Anyone wanting to understand LBG's attitude towards the sale of RFC, merely needs to consider the potential PR and commercial disaster which would have unfolded if they'd been in the position of having to put us into Administration and ultimately cause the sale of Ibrox under the Bond and Floating Charge they held over the Club's assets.

 

Remember, there was a massive contingent liability hanging over the Club at the time, putting off all buyers, as there was no way that RFC could have traded out of the situation if HMRC had won. SDM had been trying to sell for years and NO-ONE was interested.

 

So, £18m would have been a rounding error compared to financial impact that PR nightmare would have caused LBG.

 

Rather than ask why LBG were so keen on Whyte, ask why were they so keen for someone, anyone, to buy us and clear the bank debt?

 

Follow the money indeed.

 

Your explanation here has always been one of the most likely and obvious ones to me MB, especially when you consider the pre-admin threats (and actions) from some of our own fans to boycott the bank.

 

I said so on here at the time too, it was a PR nightmare that they really did not need, so they wanted out ASAP.

 

Something which does bother me regarding the 'follow the money' aspect of it though, is that LBG (just like HMRC) somehow managed to turn a blind eye to Whyte & his cronies not paying tax & PAYE to HMRC from the Club's LBG account.

 

We're not talking about a pocket change account here, we're talking about a reasonably large company dealing in millions of pounds a month suspending it's tax payments for 9 months.

 

It MUST have been noticed and reported up the food chain/pyramid at LBG, just as it must have at HMRC.

[Zappa 0]

First i've heard of this, do you have any more detail?

 

I'm not posting a link from here, but if you remove the '@' symbols and Google the four letters you'll get there.

 

...@@@T@@S@@@F@@M@@...

[the gunslinger 3,366]

Your explanation here has always been one of the most likely and obvious ones to me MB, especially when you consider the pre-admin threats (and actions) from some of our own fans to boycott the bank.

 

I said so on here at the time too, it was a PR nightmare that they really did not need, so they wanted out ASAP.

 

Something which does bother me regarding the 'follow the money' aspect of it though, is that LBG (just like HMRC) somehow managed to turn a blind eye to Whyte & his cronies not paying tax & PAYE to HMRC from the Club's LBG account.

 

We're not talking about a pocket change account here, we're talking about a reasonably large company dealing in millions of pounds a month suspending it's tax payments for 9 months.

 

It MUST have been noticed and reported up the food chain/pyramid at LBG, just as it must have at HMRC.

 

not sure about corporate accounts but i have worked in personal banking and thats simply not how it works.

 

and it would be illegal.

[Zappa 0]

not sure about corporate accounts but i have worked in personal banking and thats simply not how it works.

 

and it would be illegal.

 

It would have been illegal for them to have revealed it to anyone or went public with it, but it's hard to imagine that someone taking care of the Rangers account at LBG didn't notice the suspension of payments to HMRC under Whyte's regime.