The Disreputable David Murray back on Scotland’s rich list with £150million fortune

[Uilleam 5,948]

Bastardry

ˈbɑːstədri,ˈbastədri/

 

noun AUSTRALIAN informal

 

cruel, despicable, or otherwise unpleasant behaviour.

 

And, no, I should not welcome the Knight of the Realm back, even if he is much chastened.

His plate spinning antics depended, and would depend now, on nods, winks, and handshakes with the bank, and others, bullish market conditions, and an economy not in recession.

[forlanssister 3,114]

we're not allowed to use swear words but trolling garbage like this is OK?

 

I wouldn't call it trolling per se it's more part arrogance, part ignorance and a shit load of naivety.

[Bluedell 5,627]

The strong suspicion was, has been for some time, still is, that Murray use BofS money, racking up substantial debts and overdrafts, over the whole group, secured against assets that were ultimately insufficient.

Rangers' debt was manageable in the trading circumstances of the football Club, but Lloyd's, owner of BofS, took, possibly forced, the opportunity to recoup the £18mill.

 

King's money is not, as far as I know/can see, bank or other debt, but investment from a Trust fund, established for the benefit of family and others.

MIH had major problems but it wasn't because of the cash that was put into Rangers...although that wouldn't have helped. MIH's major problem was financing property with short term finance, which bit them after property values fell.

 

I'd agree that the £18m was manageable, but Lloyds took action against Rangers primarily because of the big tax case and the exposure there.

[Waltersgotstyle 307]

MIH had major problems but it wasn't because of the cash that was put into Rangers...although that wouldn't have helped. MIH's major problem was financing property with short term finance, which bit them after property values fell.

 

I'd agree that the £18m was manageable, but Lloyds took action against Rangers primarily because of the big tax case and the exposure there.

 

How bitter sweet it will be if we are found not guilty in the big tax case.

[Uilleam 5,948]

MIH had major problems but it wasn't because of the cash that was put into Rangers...although that wouldn't have helped. MIH's major problem was financing property with short term finance, which bit them after property values fell.

 

I'd agree that the £18m was manageable, but Lloyds took action against Rangers primarily because of the big tax case and the exposure there.

 

Post 58.

Murray's cantraips were suspected years before the crash of 2008/9.

 

The tax case rendered Rangers toxic, so Lloyd's, in the circumstances, would have leaned on Murray to sell to the devil himself. To me however, its overall exposure to Murray group problems was the principal issue. If Murray writ large was sound, Rangers' problems could have been subsumed within the overall group, at least for the medium term. It's hard to be sure, of course.

[Bluedell 5,627]

Post 58.

Murray's cantraips were suspected years before the crash of 2008/9.

 

The tax case rendered Rangers toxic, so Lloyd's, in the circumstances, would have leaned on Murray to sell to the devil himself. To me however, its overall exposure to Murray group problems was the principal issue. If Murray writ large was sound, Rangers' problems could have been subsumed within the overall group, at least for the medium term. It's hard to be sure, of course.

It may have been that to an extent but I'd always looked at us as being stand alone in that respect. In theory it should have been but perhaps some LBG boffin doing a calculation looked upon it differently.

 

The evidence given today at the Whyte trial is quite interesting, and is worth a look if you haven't seen it, and without going into it for obvious reasons, I would say that I don't fully agree with the interpretation that's been given.

[JFK-1 1,693]

Regarding Whyte it's pretty obvious with hindsight that it was a scam from day one but Murray didn't have hindsight to fall back on. If he fell for the scam so did the banks and I would expect a scam artist to be pretty good at playing the scam.

[Walterbear 557]

Regarding Whyte it's pretty obvious with hindsight that it was a scam from day one but Murray didn't have hindsight to fall back on. If he fell for the scam so did the banks and I would expect a scam artist to be pretty good at playing the scam.

 

Whyte had history with HMRC and that was why they were so aggressive with Rangers (excluding any conspiracy theories which abound) and he also had no track record in the city. The Whyte court case on conclusion will tell us a lot we need to know about Murray. Doubt it will lead to many wanting him back based even on what we have heard so far.

Edited May 2, 2017 by Walterbear

[forlanssister 3,114]

Regarding Whyte it's pretty obvious with hindsight that it was a scam from day one but Murray didn't have hindsight to fall back on. If he fell for the scam so did the banks and I would expect a scam artist to be pretty good at playing the scam.

 

Murray didn't fall for anything and neither did the bank.

[Waltersgotstyle 307]

Regarding Whyte it's pretty obvious with hindsight that it was a scam from day one but Murray didn't have hindsight to fall back on. If he fell for the scam so did the banks and I would expect a scam artist to be pretty good at playing the scam.

 

That is an extremely naive view point.

 

Murray and the banks knew fine well that Whyte had no money, they just didn't care.