Administrators Press Conference 16.02.2012, 3.45 pm - Live on STV

[stewarty 2,027]

Thoughts on what I have read about the Admininstrator's press conference: Whyte is fecked. And, quite frankly, good riddance.

 

The signs were there all along but any benefit of the doubt extended to him has been well and truly recinded due to the shady way he operates.

[Zappa 0]

Is it true that the administrators said today that the Ticketus money is indeed £24m, but that they don't know where the money is???

[Darthter 542]

Is it true that the administrators said today that the Ticketus money is indeed £24m, but that they don't know where the money is???

 

I think its a case of...they don't know YET!!!

 

They confirmed that the cash wasn't paid into the club account, but into the parent company's account, which they don't have visibility of.

[Zappa 0]

I think its a case of...they don't know YET!!!

 

They confirmed that the cash wasn't paid into the club account, but into the parent company's account, which they don't have visibility of.

 

Thanks mate.

 

If it was paid into the parent company account, then I would imagine it will be offshore.

[Craigy1881 79]

Ticketus must know where the money is, they were the ones who paid it and it was not into the club accounts. Surely they just need to ask them?

[BlueMazza 0]

Cheers for the updates BlueMazza. Been a while since we've had a regular female poster. Has anyone told you about Wija or the totty thread?

 

Um no. Dare I ask?

[Zappa 0]

Um no. Dare I ask?

 

Avoid it unless you like ladies...

[Darthter 542]

Ticketus must know where the money is, they were the ones who paid it and it was not into the club accounts. Surely they just need to ask them?

 

They know, as do the administrators where the money was paid into. What happens to it after that is of no concern to Ticketus. Since the money was paid into the parent company account (which is still very solvent), I don't believe the Administrators have authority to scrutinize those accounts. What they will be able to ascertain is whether any of the cash has found its way into the Rangers accounts.

[BlueMazza 0]

They know, as do the administrators where the money was paid into. What happens to it after that is of no concern to Ticketus. Since the money was paid into the parent company account (which is still very solvent), I don't believe the Administrators have authority to scrutinize those accounts. What they will be able to ascertain is whether any of the cash has found its way into the Rangers accounts.

 

So the parent company is connected to Rangers but as it is solvent, can't be looked into during the administration process? Is it possible CW put the money there to protect it? Then if there is an agreement with all creditors, the money is moved over to pay what's agreed and we come out?

 

That seems to simplistic to me

[Darthter 542]

So the parent company is connected to Rangers but as it is solvent, can't be looked into during the administration process?

 

That was my understanding from the press conference yesterday. Also reports today suggest that they are in communication with Mr Whytes lawyers to try and trace the money - it may still be in the original account....the admins simply don't know.