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forlanssister

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  1. forlanssister
    Having spent six and a half years pursuing a litigation claim I am aware how they work and play out. The administrators pursued a claim for £25m not £100m that is an indisputable fact, BDO maintained that claim at £25m. Given the similarity of the amount claimed and the reputed settlement it would appear Collyer Bristow's insurers knew they were on a hiding to nothing. Personally my guess was it would be settled on the steps of the court for £10-15m. There may well have been a settlement regardless and for all we know it may well have been a lot less had Paul Murray not attempted a re-capitalisation. However it is clear from the reports in The Lawyer that the conspiracy to deny RFC plc the re-capitalisation was where the administrators, liquidators and there respective legal teams thought they would receive most joy.
  2. forlanssister
    Ticketus are ordinary creditors same as debenture holders, the guy that runs the paper shop, the guy that printed the programmes etc, etc, no more, no less. Lord Hodge awarded them f*&k all. The reason they are going after Whyte as already pointed out to you is that he gave a personal guarantee that's totally irrelevant with regards to anything Lord Hodge did or said.
  3. forlanssister
    They thought they were secured creditors but Lord Hodge effectively said they were merely ordinary creditors, whatever way you want to dress it up they're creditors of RFC plc.
  4. forlanssister
    Then the claim would have been for your mythical £100m + rather than the actual £25m claim in the litigation. Funny why the lawyers for RFC plc felt the need to even mention Paul Murray in court if he was so irrelevant. In any event I've yet to see irrefutable proof that the claim has actually been settled.
  5. forlanssister
    From the administrators report. No sign of of being in excess of £100m eh?
  6. forlanssister
    No it wasn't the claim for the £3.6m was because the administrators claimed the money belonged to RFC plc.
  7. forlanssister
    The original claim was merely for the monies laying in the Collyer Bristow client account circa £3.6m.
  8. forlanssister
    The claim against Collyer Bristow was for the £25m investment the club was denied by opting for the Whyte £1 "purchase" as opposed to the £25m re-capitalisation from a Paul Murray fronted consortium. There's a misconception that Paul Murray tried to buy the club in 2011 he didn't it was a re-capitalisation which is something very different.
  9. forlanssister
    Indeed but yet so few actually realise this.
  10. forlanssister
    Hopefully someone who has never even heard of Largs let alone been there!
  11. forlanssister
    They were a debt owed by oldco to the bond holders no if's or but's will change that. Lord Hodge stated that the Ticketus debt did not rank above ordinary creditors effectively making them ordinary creditors at the time, Lord Glennie had nothing to do with the administration his ruling was in regards to the SFA's transfer ban.
  12. forlanssister
    £7m worth of debentures for a start.
  13. forlanssister
    He's fit, technically decent and two footed a half decent coach should be able to make a player out of him.
  14. forlanssister
    Thought he looked half decent went he went to right back the other night certainly no worse than any of the others who take turns to play there. Probably the only genuine two footed player we have too.
  15. forlanssister
    You think a business turning over circa £19m should fork out the fat end of £1m for a CEO with no previous experience and came from the dole queue? We were turning over £60m + when Bain was CEO.
  16. forlanssister
    Well Easdale, Somers and Crighton were there when Wallace was handed his onerous contract. Easdale, Somers, Crighton and Wallace were there when Laxey were handed their (since superceded) onerous contract.
  17. forlanssister
    Really? Our esteemed CEO, present Chairman, present Directors and Deloittes our auditors were unaware but somehow Malcolm Murray had to know?
  18. forlanssister
    Whist I have no great objection in principle to using asset based finance, my own business for example could not function without doing so and it is a perfectively normal and useful tool of business. However in saying that there is the caveat of trust and there isn't a single member of the present board that I would trust to ensure any such deal is properly constructed and for the benefit of the club as opposed to certain office bearers and shareholders. We are unable to move forward as long as we are run and controlled by those who see the club as nothing more than a vehicle for personal enrichment or in the Easdales case an attempt to buy credibility.
  19. forlanssister
    I doubt he did and doubt Walter Smith did either in his spell as Chairman, both were non-executive Chairmen.
  20. forlanssister
    LOL....US and Australia, he's already let go 3 US internationals go and had an Australian one here for about the length of a full moon!
  21. forlanssister
    http://www.gersnetonline.co.uk/vb/showthread.php?64093-March-to-Ibrox-by-SOS-19-07-14&p=500642&viewfull=1#post500642 Didn't get Green's but it was leaked anyway http://www.scribd.com/doc/232359336/Charles-Green-Contract
  22. forlanssister
    £315k basic, £25k wage increase for promotion to SPFL Premiership £25k wage increase for the Club qualifying for European football Those increases are in addition to any increase he may negotiate annually effective 1 January of each year Private medical insurance for him, his spouse and dependants Life assurance for four times annual salary (£1.26m minimum) All reasonable expenses First 3 months housing or hotel accommodation £15k car allowance (payable monthly) 100% bonus of base salary in force at the date of bonus award. Bonus to be decided by Chairman and/or Remuneration Committee on undisclosed criteria. The bonus may be payable in cash or by an award of shares (undisclosed price) in the Company or combination of both by mutual consent of the Executive or the Board. The Executive retains the option to receive a minimum of 50% of the bonus in cash. Bonus period runs till June 30 each year and is payable on 30 September each year. 10% of base salary paid into a personal pension plan of his choice on a monthly basis. Factor in the NIC's the club pays and he'll cost the club the fat end of £1m per annum
  23. forlanssister
    A snippet from Sandy Easdale's contract, you've just got to laugh.......
  24. forlanssister
    You may well see one of the six at best. They most certainly were inaccurate, they stated there was a £2.5m unsecured credit facility without that it's doubtful they would have achieved going concern status. The director who signed off the accounts did not give the auditors the full information regarding the share options from which he surprise, surprise personally benefited from. The auditors failed to notice the inclusion of share options in the IPO prospectus and the contracts of Stockbridge,Mather, Green and perhaps even others. Even the RNS issued regarding Stockbridge's options was false as Green and Mather have contractual rights to share options and Wallace can receive his 100% bonus in shares if he so wishes, once again the price is undisclosed, a penny a pop would be a pretty accurate estimate I guess. Somers will receive what he calls and I quote "paltry" £70k plus all reasonable expenses per annum for his contracted 1-2 days per month, falling to £60k per annum after his first year by virtue of the fact his two months were at £10k per month falling to £5k per month from January. Crighton is on £40k per annum plus all reasonable expenses for doing the bidding of Laxey. James Easdale allegedly receives nothing, however his contract states £50k per annum plus all reasonable expenses. He was in fact drawing a salary from day one but apparently decided better of it and a rather peculiar addendum to his contract states his attention to repay it. Gary Ralston wrote that he repaid circa £12.6k but Rangers did not supply me with proof of repayment. Sandy Easdale allegedly receives nothing too but like his brother his contract states £50k plus all reasonable expenses, again there is a rather bizarre addendum to his contract which basically says, 'we haven't got Sandy's bank details for payment but it's ok he doesn't want anything anyway.' I assume everybody knows the details of Wallace's contract which will probably cost the club the fatter part of £1m per year if not more. I don't have the details of Philip Nash's contract but am led to believe it like the rest is lucrative. If he was serious he'd start with his own extremely onerous contract. Deferral rather than cut I'm led to believe. We may well see a difference but don't believe the one offs and pay offs will vanish they'll simply be replaced by others of the same ilk. Agreed living beyond our means has to stop but I see no signs of or serious attempts at doing so.
  25. forlanssister
    When did we play these 65 games?
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