Ex-Rangers administrators David Whitehouse and Paul Clark in £21m settlement

[RANGERRAB 3,681]

30 minutes ago, Bill said:

Craig Whyte was and it seems still is a distraction.

 

I find it very difficult to believe a chiseller like Whyte, with no significant track record in business to his name, can suddenly sidle up to Rangers and convince a man like David Murray that he's a credible buyer. That simply doesn't happen in the real world and certainly not to someone like Murray, who surrounds himself with such high-calibre corporate advisors that being 'duped" isn't even a possibility. I've been round those tables, albeit on a smaller scale, and I know the extent of the diligence that's conducted on people like Whyte - Murray would have known when Whyte took a piss, let alone how much money he had and where it came from.

 

The only conclusion I draw about Craig Whyte is that, for whatever reason, he was willing to be a pawn in someone else's game, someone far beyond Whyte's pay grade. I imagine Whyte serves his purpose every time the spotlight is shone on him rather than the real culprits and it's worth considering that had he been convicted and jailed, the price of his ongoing silence would have soared. It's likely we'll never get near the truth of what went on but I think Whyte was the least of it.

 

 

Bill, you are more knowledgeable about this than me, but didn’t whyte literally con money from ticketus to pay off the bank and the bank have kept that money?

how can that be legal?

[Bill 13,717]

6 minutes ago, RANGERRAB said:

Bill, you are more knowledgeable about this than me, but didn’t whyte literally con money from ticketus to pay off the bank and the bank have kept that money?

how can that be legal?

I doubt very much that i know any more than you do. You can only assume either it was legal or no one wants to prove otherwise. We've seen with the other aborted prosecutions that judicial incompetence and prejudice were rife around this matter. It seems to me the Tickets scandal was exactly what you'd expect from a con man like Whyte but what I was talking about was how Whyte came to be in a position to make decisions like this in the first place. If you were a complete cynic you might think Whyte was a fox deliberately let into the hen house by people who knew he would be completely out of his depth and prone to temptation.

[RANGERRAB 3,681]

My view is that whyte deliberately instigated an administration to try & force HMRC to settle all debts including the BTC but this was never going to work.

How he got into that position  in the first place is what I think we’ll never find out. Murray let him into the hen house as you say. But was it all his decision? And was there more than one fox in the henhouse?

Edited July 30, 2022 by RANGERRAB

[the gunslinger 3,366]

4 hours ago, RANGERRAB said:

My view is that whyte deliberately instigated an administration to try & force HMRC to settle all debts including the BTC but this was never going to work.

How he got into that position  in the first place is what I think we’ll never find out. Murray let him into the hen house as you say. But was it all his decision? And was there more than one fox in the henhouse?

Whyte sold 4 years of season book sales to Ticketus and used the money to buy the club and to line his pockets. He knew he would never pay them back. 

[Uilleam 5,948]

4 hours ago, Bill said:

you might think Whyte was a fox deliberately let into the hen house by people who knew he would be completely out of his depth and prone to temptation.

I think it clear that Whyte had but one intention and that to put the Company onto the rocks. He had no intention otherwise. 

[Uilleam 5,948]

As far as I recall, Whyte set up a deal with Ticketus involving the future rights to season tickets. He used the money which was lodged with solicitors or in escrow somewhere, and released immediately the one Pound coin changed hands with DM. This looked gey close to Financial Assistance, a breach of the Companies Act. 

Lloyds Banking Group swallowed this whole, or to the tune of 18M GBP, or thereby, the debt which the Rangers' division of Murray International owed. 

Subsequently, Ticketus bought further rights to  further season tickets.

 

There was nothing unusual in the deal with Ticketus, except, perhaps its scale, and the fact it was to be used for paying off debt, rather than easing cash flow. 

 

When Whyte put the Company into Administration, which ended in formal Liquidation, Ticketus realised that it had bought a pup, and sued for the money. Now, if memory serves, it found, to its dismay, that it had no claim beyond that of any other creditor. I think that it had been misled on matters of Scots' Law. 

 

 

[Scott7 6,023]

The Bank is in the clear. Money received in settlement of a debt can’t be clawed back no matter the origins of the money, provided of course that the creditor has acted in good faith.
 

In a hypothetical case, it might be different if the creditor had knowledge of irregularities in the origins of the money but it would be very difficult to prove that hypothetical case.

[Bill 13,717]

1 hour ago, Uilleam said:

As far as I recall, Whyte set up a deal with Ticketus involving the future rights to season tickets. He used the money which was lodged with solicitors or in escrow somewhere, and released immediately the one Pound coin changed hands with DM. This looked gey close to Financial Assistance, a breach of the Companies Act. 

Lloyds Banking Group swallowed this whole, or to the tune of 18M GBP, or thereby, the debt which the Rangers' division of Murray International owed. 

Subsequently, Ticketus bought further rights to  further season tickets.

 

There was nothing unusual in the deal with Ticketus, except, perhaps its scale, and the fact it was to be used for paying off debt, rather than easing cash flow. 

 

When Whyte put the Company into Administration, which ended in formal Liquidation, Ticketus realised that it had bought a pup, and sued for the money. Now, if memory serves, it found, to its dismay, that it had no claim beyond that of any other creditor. I think that it had been misled on matters of Scots' Law. 

 

 

I think most of that is a matter of record. The interesting question for me isn’t if Whyte did these things but whether or not he acted of his own accord or, knowingly or otherwise, was fulfilling the objectives of other parties. I’ve always felt it more likely, given Whyte’s background, that there were others pulling his strings, although it’s perfectly possible Whyte was to a greater or lesser extent unaware of it. It’s possible the more attention we give to Whyte, the less chance we have of ever seeing beyond him … but perhaps we’re now at the point where sleeping dogs will just be left to lie. 

[RANGERRAB 3,681]

Whyte once said something along the lines of that Rangers were a train that was already crashing & he just happened to be the driver at the time.

But the questions remain how he managed to become the driver & whether he was the sole driver. I think not 

Now he’s looking for his own payday. I wonder what Mr Murray makes of all this. And if he’s successful whether others might join the queue too. Maybe those sleeping dogs might waken. 

[buster. 5,208]

11 hours ago, RANGERRAB said:

Whyte once said something along the lines of that Rangers were a train that was already crashing & he just happened to be the driver at the time.

But the questions remain how he managed to become the driver & whether he was the sole driver. I think not 

Now he’s looking for his own payday. I wonder what Mr Murray makes of all this. And if he’s successful whether others might join the queue too. Maybe those sleeping dogs might waken. 

Feels like a lifetime ago and the memory is what it is.

 

I recall the very first email release by Charlotte Fakes. Someone who did possess leaked/hacked documentation/emails.

 

IIRC it was a communication between Jack Irvine (Mediahouse) and an email ID apparently used by Sir Duped.

Toxic Jack was boasting about his Nexis Lexis search engine and how it could or had, found all of Craig Whyte's negative internet history.

 

The date was around the time that Sir Duped stepped away from the breach (August 2009) and was told to let the bank place their man (Donald Muir) on the board (not sure of actual date, but not long after).