Supreme Court Case - Hearing 15 & 16 of March

[pete 2,499]

Whatever went on between Whyte and Green matters not should Whyte be convicted for actions during his own tenure.

Imo the two of them were conspiring to commit fraud following the clubs disintegration. That one may well come up in the future.

 

I agree there was fraud from the 2 of them but the actual buying of Rangers wasn't fraudulent. What happened between Whyte and Green has nothing to do with Oldco. To gain Rangers Whyte said he would pay of LBG and he did. He also paid MIH 1 pound to take over the company. Where his case may fall down is that he never let it be known that he was banned from being a director of a company and therefore should not have been in the position to buy. If we win the BTC it will throw up some very interesting scenario's and probably court cases.

[pete 2,499]

A horrible fact I know but anyone that wants to revive Oldco will probably have to negotiate with Whyte.

[forlanssister 3,105]

I agree there was fraud from the 2 of them but the actual buying of Rangers wasn't fraudulent. What happened between Whyte and Green has nothing to do with Oldco. To gain Rangers Whyte said he would pay of LBG and he did. He also paid MIH 1 pound to take over the company. Where his case may fall down is that he never let it be known that he was banned from being a director of a company and therefore should not have been in the position to buy. If we win the BTC it will throw up some very interesting scenario's and probably court cases.

 

The big players (Murray, Lloyds/HBOS) save Ticketus would probably have known of Whyte's directorship ban and since his ban was up it isn't really a factor, he was smart enough not to fill in the declaration on the Ticketus paperwork and in any case they broke their own rules dealing with him.

 

The important part of the case is whether the money paid to the bank was a result of unlawful financial assistance (illegally using the company's own money to fund the takeover).

Edited March 11, 2017 by forlanssister

[pete 2,499]

The big players (Murray, Lloyds/HBOS) save Ticketus would probably have known of Whyte's directorship ban and since his ban was up it isn't really a factor, he was smart enough not to fill in the declaration on the Ticketus paperwork and in any case they broke their own rules dealing with him.

 

The important part of the case is whether the money paid to the bank was a result of unlawful financial assistance (illegally using the company's own money to fund the takeover).

 

What did Green do? He also bought Newco as a loan that was to be paid back. I am no business person but that seems to be a thing that is accepted in the Finance\Football world. Many teams seem to be taken over with their own money. Did Fergus McCann not do the same with Celtic?

[boabie 230]

I agree there was fraud from the 2 of them but the actual buying of Rangers wasn't fraudulent. What happened between Whyte and Green has nothing to do with Oldco. To gain Rangers Whyte said he would pay of LBG and he did. He also paid MIH 1 pound to take over the company. Where his case may fall down is that he never let it be known that he was banned from being a director of a company and therefore should not have been in the position to buy. If we win the BTC it will throw up some very interesting scenario's and probably court cases.

 

You're saying nothing I disagree with there Pete.

The paying off of LBG is where the fraud charges came about.

It will be argued, mainly by the mank obsessives that Whyte paid £1 to buy Rangers. He paid that to Murray.

The contract between them though brought into effect monies to be paid to LBG and for approx £5 million of maintenance at Ibrox.

Being banned as a director didn't come into it, apart from the football authority rules.

A win at the BTC leaves the field open to the company running the winding up of Oldco to go after everybody.

[pete 2,499]

I just want to say I am not saying anything as a fact and I hope that I am totally wrong. I am just throwing it up for discussion on what looks to me to be the problems or possibilities.

[boabie 230]

What did Green do? He also bought Newco as a loan that was to be paid back. I am no business person but that seems to be a thing that is accepted in the Finance\Football world. Many teams seem to be taken over with their own money. Did Fergus McCann not do the same with Celtic?

 

Greens mistake was in not permanently hiding the fact that he was working alongside Whyte to take control of the club after Whyte had destroyed it.

Green knew fine well what Whyte had done. The two of them formed a scheme to take control. Green is as guilty as Whyte imo - especially immediately after he sold shares to an unsuspecting public.

Post the Whyte trial there will be years and years of civil and possibly more criminal cases imo. This thing isn't close to be finished.

[forlanssister 3,105]

What did Green do? He also bought Newco as a loan that was to be paid back. I am no business person but that seems to be a thing that is accepted in the Finance\Football world. Many teams seem to be taken over with their own money. Did Fergus McCann not do the same with Celtic?

 

Green bought the assets he did not buy the company.

 

Fergus McCann purchased Celtic shares off the shareholders with his own funds.

[pete 2,499]

You're saying nothing I disagree with there Pete.

The paying off of LBG is where the fraud charges came about.

It will be argued, mainly by the mank obsessives that Whyte paid £1 to buy Rangers. He paid that to Murray.

The contract between them though brought into effect monies to be paid to LBG and for approx £5 million of maintenance at Ibrox.

Being banned as a director didn't come into it, apart from the football authority rules.

A win at the BTC leaves the field open to the company running the winding up of Oldco to go after everybody.

 

We know that the liquidators have gained huge funds which will probably clear all normal debts. This is a question. Can they Liquidate a company that possibly has a plus amount in the bank.

[pete 2,499]

Green bought the assets he did not buy the company.

 

Fergus McCann purchased Celtic shares off the shareholders with his own funds.

 

Thanks mate I am not arguing I am learning.