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

[Darthter 542]

The fact is that the money received by LBG was coming from an identifiable, and legal source....they had no interest in the deal between CW & Ticketus.

[RANGERRAB 3,678]

The Glazer's bought Man Utd with a 'leveraged buyout' where they basically borrowed money, at eye-watering interest rates, and used Man Utd as collateral for the loan. So they borrowed money against something they didn't own to buy the thing they didn't own.

 

I'm reluctant to type much more on this subject currently other than to say using a football club as collateral for a loan to buy that football club has been done before.

 

But did the Glazers say they were using their own money like Whyte apparently did ? there's a difference

[RANGERRAB 3,678]

The fact is that the money received by LBG was coming from an identifiable, and legal source....they had no interest in the deal between CW & Ticketus.

 

legal ??? LOL. Tell ticketus that one

[forlanssister 3,114]

The fact is that the money received by LBG was coming from an identifiable, and legal source....they had no interest in the deal between CW & Ticketus.

 

Yet the proof of funds letter that was accepted as proof was apparently unsigned.

[Walterbear 557]

Yet the proof of funds letter that was accepted as proof was apparently unsigned.

 

Exactly. Would you sign it if you knew the club was being bought using its own money (against company law) and the other good point raised is whether certain directors including LBG directors acted in the best interests of Rangers. The whole thing stinks. This isn't the same as the ManU situation.

[Uilleam 5,948]

Yet the proof of funds letter that was accepted as proof was apparently unsigned.

 

These things happen. It was only £18Mill, after all, and a Scottish Institution, hardly worth being punctilious about.

 

From what I can see, LBG would have taken as proof a hand scrawled declaration in green crayon on the inside of an empty fag packet, and postmarked Carstairs.

[Bluedell 5,627]

Exactly. Would you sign it if you knew the club was being bought using its own money (against company law) and the other good point raised is whether certain directors including LBG directors acted in the best interests of Rangers. The whole thing stinks. This isn't the same as the ManU situation.

 

It may stink and certain directors may or may not have acted in the best interests of the company (and action may or may not be taken against them for that) but it still doesn't mean that Lloyds acted illegally.

[forlanssister 3,114]

It may stink and certain directors may or may not have acted in the best interests of the company (and action may or may not be taken against them for that) but it still doesn't mean that Lloyds acted illegally.

 

As it stands I tend to agree but I feel there's a few more revelations to come and by the conclusion of the trial that view may well change.

[Walterbear 557]

It may stink and certain directors may or may not have acted in the best interests of the company (and action may or may not be taken against them for that) but it still doesn't mean that Lloyds acted illegally.

 

It doesn't mean it mate I would agree. But I'd like a lawyer who understands these things to have a look at it because it stinks. Rangers fans cannot be the only ones punished in this disgrace.

[union 0]

Findlay is very good no doubt about that,his dismantling of the prosecutions case is calm and collected,his exposure of LBG and murray duplicity is something all should thank him for.