capstans 0 Posted March 9, 2012 Share Posted March 9, 2012 He cleared the lloyds debt using our money( the supporters) the guy should be hung drawn and quartered! Therein lies the rub he didn't clear anything with our money, he allegedly cleared the debt by means of factoring projected future revenue that is something not yet sold involving risk being taken by the finance provider. Whyte also claims to have underwritten this also through another one of his companies, the fact that Ticketus have neither confirmed nor denied this leads me to think Whyte may be cleverer than many think. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted March 9, 2012 Share Posted March 9, 2012 Will SDM give him his pound back??? 0 Quote Link to post Share on other sites More sharing options...
Juancornetto 1 Posted March 9, 2012 Share Posted March 9, 2012 Ticketus/Octopus Finance are bracing themselves for a £24.4m boot in the balls by the sound of it. I still can't quite get my head round why they would advance that money to a new owner of a club in severe financial difficulty...he has achieved a lot by flashing this £33m letter of security around. Think I'll make one up myself, anybody fancy taking over Chelsea with me? 0 Quote Link to post Share on other sites More sharing options...
capstans 0 Posted March 9, 2012 Share Posted March 9, 2012 Will SDM give him his pound back??? What I want to know is Whyte going to give us our club back, he still owns the club, or is the plan for him to challenge the administrators findings which he is quite at liberty to do setting us back to square one. 0 Quote Link to post Share on other sites More sharing options...
Gers4Life 0 Posted March 9, 2012 Share Posted March 9, 2012 Therein lies the rub he didn't clear anything with our money, he allegedly cleared the debt by means of factoring projected future revenue that is something not yet sold involving risk being taken by the finance provider. Whyte also claims to have underwritten this also through another one of his companies, the fact that Ticketus have neither confirmed nor denied this leads me to think Whyte may be cleverer than many think. Rangers administrators believe there is "no sign or information" that owner Craig Whyte has paid any money into the club. When Mr Whyte bought over the Ibrox club last May he paid Sir David Murray a nominal £1 for the sale and wiped off the £18m debt owed to Lloyds Banking Group. He later admitted he sold off four years future season ticket sales to London firm Ticketus for £24.4m and used part of that to pay back the bank. Mr Whyte was believed to have secured creditor status at the club as a result of paying off the bank debt, albeit by using money raised by selling off around 100,000 future season tickets. 0 Quote Link to post Share on other sites More sharing options...
Gers4Life 0 Posted March 9, 2012 Share Posted March 9, 2012 We will get our club back when Whyte is removed! And a new buyer comes in 0 Quote Link to post Share on other sites More sharing options...
capstans 0 Posted March 9, 2012 Share Posted March 9, 2012 It would appear whither we or the administrators like it or not Whyte has done nothing illegal, which is why the bank after running a source of funds check accepted Whytes funds as clean, otherwise the bank has questions to answer. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,482 Posted March 9, 2012 Share Posted March 9, 2012 It would appear whither we or the administrators like it or not Whyte has done nothing illegal, which is why the bank after running a source of funds check accepted Whytes funds as clean, otherwise the bank has questions to answer. The results of a bank's money laundering checks doesn't prove or disprove the legality or otherwise of agreements entered into by Whyte. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted March 9, 2012 Share Posted March 9, 2012 The results of a bank's money laundering checks doesn't prove or disprove the legality or otherwise of agreements entered into by Whyte. Yes I agree The bank will not have been too bothered how Whyte got the money. He was Rangers Chairman paying Rangers debt. He had shown SDM and I think Muir as well a Guarantee of funds obviously now known to have been drawn up by his lawyer friend and his friends at Ticketus. Where the money came from is not really the banks problem. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted March 9, 2012 Share Posted March 9, 2012 The results of a bank's money laundering checks doesn't prove or disprove the legality or otherwise of agreements entered into by Whyte. Yes I agree The bank will not have been too bothered how Whyte got the money. He was Rangers Chairman paying Rangers debt. He had shown SDM and I think Muir as well a Guarantee of funds obviously now known to have been drawn up by his lawyer friend and his friends at Ticketus. Where the money came from is not really the banks problem. 0 Quote Link to post Share on other sites More sharing options...
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