Bluedell 5,356 Posted February 8, 2018 Share Posted February 8, 2018 1 hour ago, Uilleam said: I don't know how you can declare categorically that Ticketus knew precisely what Whyte was actually doing. It would have shown by the simplest of due diligence which must have been carried out given they agreed to lend money to someone for something that he didn't own at that point. They would have had to see the purchase agreement and the commitment to shareholders was very public knowledge. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,060 Posted February 8, 2018 Share Posted February 8, 2018 15 minutes ago, Bluedell said: It would have shown by the simplest of due diligence which must have been carried out given they agreed to lend money to someone for something that he didn't own at that point. They would have had to see the purchase agreement and the commitment to shareholders was very public knowledge. Oh they absolutely knew but they were far more concerned in keeping their participation from David Murray secret in case that jeopardised the deal and ergo their expected profits than they were in ensuring Whyte's compliance to the extent that he didn't even sign their Directors declaration form. Ticketus were also so aware of the possibility of the transaction being viewed as "Financial Assistance" that they sought outside legal opinion. 3 Quote Link to post Share on other sites More sharing options...
Uilleam 5,505 Posted February 9, 2018 Share Posted February 9, 2018 (edited) 15 hours ago, forlanssister said: Oh they absolutely knew but they were far more concerned in keeping their participation from David Murray secret in case that jeopardised the deal and ergo their expected profits than they were in ensuring Whyte's compliance to the extent that he didn't even sign their Directors declaration form. Ticketus were also so aware of the possibility of the transaction being viewed as "Financial Assistance" that they sought outside legal opinion. So Ticketus absolutely knew that it was sailing close to the wind with Whyte, but pressed ahead, regardless, driven by greed, stupidity, presumably faith in its 'model', and, critically, faith in what turned out to be a non existent security. It compounded its initial felony by doing another deal (or deals) raising its exposure by another 50% or thereby, on the basis, I imagine, of the theory that if one is in over one's ankles, one might as well get up to one's knees. I have to think that, if Ticketus was that close to Whyte, and knew that its money was being used to acquire the Company, it might have detected a whiff of greater than normal risk, and made an enquiry or to into Whyte, or even made a few 'phone calls... The shocking thing about this kind of profligacy is that we are not shocked by this kind of profligacy. Edited February 9, 2018 by Uilleam 0 Quote Link to post Share on other sites More sharing options...
RabiDuck 89 Posted February 9, 2018 Share Posted February 9, 2018 On the banking facility, I think the absence of the facility would be more of a statement than having one. If we were unable to get one previously and now we are, the risk we're viewed as within the banking industry has shifted, this has to be a good thing. The fact we have one is neither here nor there, it's the fact that we can get one that's the important thing and shows that we're moving in the right direction. 2 Quote Link to post Share on other sites More sharing options...
stewarty 1,878 Posted February 9, 2018 Share Posted February 9, 2018 38 minutes ago, RabiDuck said: On the banking facility, I think the absence of the facility would be more of a statement than having one. If we were unable to get one previously and now we are, the risk we're viewed as within the banking industry has shifted, this has to be a good thing. The fact we have one is neither here nor there, it's the fact that we can get one that's the important thing and shows that we're moving in the right direction. Agreed. Its just something that would happen in any other "normal" business, even ones much smaller that ours. The fact that we now have it, I can see has positive aspects in terms of the management team getting on with the day-to-day business without having to micro-manage cash flow to the same extent. Also they potentially do not need to liaise as regularly with investors to bring in further short team soft loans (with all the associated hoops that they will need to jump through) , for example if there are unexpected costs that need to be covered. And in turn that means that investors are less hands-on when it comes to routine management issues which allows both the Board, associated investors and the management team to focus on improving us on and off the pitch. I could think of more possible benefits, though I am only speculating 0 Quote Link to post Share on other sites More sharing options...
Bill 13,717 Posted February 9, 2018 Share Posted February 9, 2018 It's one thing to debate the pro's and cons of having a banking facility. It's another to speculate on the terms of that facility, which is much more important. 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted February 14, 2018 Share Posted February 14, 2018 One of the usual suspects has managed to find a copy of the facility -- https://t.co/1VPV0NyNTV 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted February 14, 2018 Share Posted February 14, 2018 29 minutes ago, boabie said: One of the usual suspects has managed to find a copy of the facility -- https://t.co/1VPV0NyNTV That's just a copy of the security over Edmiston House and the Albion and not the facility. It doesn't tell us anything that we didn't already know. It's publicly available on the Companies House website, so nothing peculiar about them having a copy. 2 Quote Link to post Share on other sites More sharing options...
Gonzo79 13,766 Posted February 14, 2018 Share Posted February 14, 2018 Imagine spending your days searching for details of a rival football club's financial situation!? What a sad existence. Freud would have a field day with that lot. 1 Quote Link to post Share on other sites More sharing options...
cooponthewing 1,139 Posted February 14, 2018 Share Posted February 14, 2018 23 minutes ago, Gonzo79 said: Imagine spending your days searching for details of a rival football club's financial situation!? What a sad existence. Freud would have a field day with that lot. There is not enough time in the world to write a report on that lot! 1 Quote Link to post Share on other sites More sharing options...
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