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View Poll Results: What is your attitude to a new "Rangers" entering at Div1?

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  • Opposed - and will walk away from Scottish professional football

    533 53.09%
  • Opposed - but will continue to support the game.

    447 44.52%
  • In favour.

    24 2.39%
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  1. #37171
    @hibs.net private member Moulin Yarns's Avatar
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    No morning updates from me today. sorry. will try and catch up this afternoon.
    There is no such thing as too much yarn, just not enough time.


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  3. #37172
    Coaching Staff Iain G's Avatar
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    Quote Originally Posted by Golden Fleece View Post
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    No morning updates from me today. sorry. will try and catch up this afternoon.
    Nooooooooooo! Will have to do some work now, damn your hide! 😁

  4. #37173
    @hibs.net private member greenginger's Avatar
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    Addicts can get a fix with JamesDoleman.

    https://twitter.com/jamesdoleman

  5. #37174
    Testimonial Due AndyM_1875's Avatar
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    Quote Originally Posted by Deansy View Post
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    Admittedly it's because I haven't gone into it with an open-mind (sorry but a life-long loathing/despisal of all-things Hun makes me blinkered), from day-one I've considered the entire affair a con/scam, designed just to shed the debt they'd built-up in buying victory/success. A seasoned business-man like David Murray being 'Duped' ?. Sorry but I just don't buy that. Then there's LNS and his verdict that 'Rangers didn't achieve a sporting advantage' ??.

    That and the number of 'I don't remember/recall' pleas being made (again, admittedly, I'm not sure of who's-who that's making them !). I know nothing of court-trials but these are, in theory, top business-people/professionals and I've always thought that what makes them more successful/different than the average-person is their 'attention-to-detail/memory-retention' ?
    Whilst I share your view that the entire Rangers Admin thing has been little more than a cynical exercise in debt dumping, you can't be emotive or binary about this sort of thing. A decent lawyer will drive a cart and horses through anything they perceive as a weakness. I've seen Findlay in action and he is lethal in the court. Doesn't matter the case, the accused could be bang to rights but if there is a weakness in the Prosecution's case he'll tear it apart. If the evidence is not presented correctly he'll destroy the case. As for the LNS thing, that's old news now. The SFA won't be going back on that irrespective of the results of the various trials. All the howls of outrage on social media and club statements combined won't change a single thing.

    Top business people often do stupid things. Rangers crashed themselves into the wall because of their own hubris. RBS similarly were at one time guided by a CEO who was similarly fuelled by arrogance (Fred Goodwin) and made arguably one of the worst decisions in Scottish Business History when he pushed through RBS's takeover of ABN AMRO.
    Last edited by AndyM_1875; 24-05-2017 at 12:42 PM.

  6. #37175
    Quote Originally Posted by Deansy View Post
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    Admittedly it's because I haven't gone into it with an open-mind (sorry but a life-long loathing/despisal of all-things Hun makes me blinkered), from day-one I've considered the entire affair a con/scam, designed just to shed the debt they'd built-up in buying victory/success. A seasoned business-man like David Murray being 'Duped' ?. Sorry but I just don't buy that. Then there's LNS and his verdict that 'Rangers didn't achieve a sporting advantage' ??.

    That and the number of 'I don't remember/recall' pleas being made (again, admittedly, I'm not sure of who's-who that's making them !). I know nothing of court-trials but these are, in theory, top business-people/professionals and I've always thought that what makes them more successful/different than the average-person is their 'attention-to-detail/memory-retention' ?
    That's not quite what he said. I believe the gist was that as the ebt scheme was considered (mostly) legal by the FTTT, then the Old Huns didn't get an advantage that wasn't available to any other club. Of course, that club would have to live on the dubious moral edge of tax avoidance but ho hum.

    tbh, although I think the last 5 Old Hun titles should be stripped and Scottish football should go back to the sanity whereby a liquidated club isn't the same thing as a new one playing in the same stadium, I very much doubt there's any appetite among the clubs generally to go back to this again. The Old Huns are dead, their fans are in purgatory watching the new lot stagger about like drunks thrown out a pub. We all know the truth (apart from the odd CWG type exception). I think that'll probably have to do.

  7. #37176
    @hibs.net private member Moulin Yarns's Avatar
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    Going to miss this morning again, hunting bats!!

    David Horne, Murray Group on just now.

    https://twitter.com/jamesdoleman
    There is no such thing as too much yarn, just not enough time.

  8. #37177
    @hibs.net private member Moulin Yarns's Avatar
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    I'm back.



    Not a lot happened yesterday, and I was indisposed for alarge chunk!!

    Today, so far a bit about the use of Ticketus, and the sharepurchase agreement

    David Horne, Murry group director on stand.

    Horne says if he had known Whyte was usingTicketus funds to pay the bank debt he would have considered this "illegalfinancial assistance"

    Horne says Craig Whyte's sources of fundsbreached the Share Purchase Agreement. "Wasn't the basis Murray groupintended to sell shares on"

    On 5 May 2011 Horne says he received ademand for £2.8m from HMRC for the "small tax case" to be paid within30 days.

    Horne says after the sale of Rangers on 6May 2011 "The Murray Group was out" Only found out about Ticketusfunds in early 2012

    Court shown letter 9 February 2012 to GaryWithey from witness, refers to "reports in the press" about theTicketus funding

    Asks for copies of any agreement betweenWhyte and Ticketus to confirm no breach of the Share Purchase Agreement.

    Horne says he never received a response.

    Advocate Depute ends, court adjourns



    More to follow
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  9. #37178
    @hibs.net private member Moulin Yarns's Avatar
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    Defence Advocate Donald Findlay QC rises tocross-examine former Murray Group lawyer David Horne


    1. Horne says his role was to "head up" thein-house legal team at Murray group. Agrees he was a senior advisor to DavidMurray.
      Findlay"Sir David Murray was the heart of the Murray Group?" Horne "Ithink that's fair."
      Horne says Murray acted as a chairman ofthe group rather than a chief executive. Agrees relied on others for day to dayrunning of business

      Findlay suggests Murray had been veryinvolved in the running of Rangers, "Had a significant place in hisheart?" Horne agrees

      Findlay asks Horne if he has reviewed anydocuments before giving evidence. Reply "Some, yes"

      Horne agrees the 2008 financial crisis was"really biting" on the Murray Group

      Horne says that selling Rangers was a"loose objective" since 2004 rights issue. Decision made no moreInvestment.

      Horne says 2004 rights issue raised about£50m from existing shareholders, "but not all of them"

      Horne "The club was funded and couldtrade but wasn't making profits, was spending more than it was earning"

      Horne agrees the Murray Group decided notto fund the club further, decision made to find a new owner. "There wasn'tmuch interest at all"

      Horne "PWC did a worldwide marketingprocess..wont say people were breaking down the doors to get in there."

      Horne says fan ownership of Rangers wasconsidered, adds "was completely unrealistic."

      Horne agrees Andrew Ellis, a London basedproperty dealer, was put forward as a potential buyer. Confirms meetings tookplace in Feb 2010

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  10. #37179
    @hibs.net private member Moulin Yarns's Avatar
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    Agrees takeover panel was informed of Ellisbid

    Horne £33m bid for Rangers was receivedfrom Ellis and others in early 2010. Offered £8m Investment in playing squad

    Findlay "What happened to thisbid?" Horne says he can't remember the exact detail of why it did not goahead?

    Horne "Pressure was put on them tomove the thing forward," announcement made in June group no longerinterested in selling club

    Horne agrees an "Independent boardcommittee" was set up to assess any bid as this was a requirement of thetakeover code.

    Did not have power to stop any bid butcould "express a view"

    Horne says a data room was set up for theEllis bid but they rarely visited it. Made him wonder how serious they were.

    Findlay "Did Ellis and his advisorssimply disappear off the radar" Horne says there was no progress made.

    Horne confirms Ian Dickson, a former lawyerfor Rangers told him a Graham Duffy was also interested in buying the clubDuffy, the court hears wanted to open discussions with the bank directly. Hornesaid he didn't think that was how things should go.

    Horne agrees nothing came of Duffy bid"He was going to take over the club then raise all sort of money from thefans" (sounds like the Hearts model J )

    Court told, David Moyes brother, KennyMoyes was next to approach the club. Said he had a client Ian Anderson who wasinterested (but he was ‘Living in the Past’ )




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  11. #37180
    @hibs.net private member Moulin Yarns's Avatar
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    Findlay Ellis bid petered out, Duffy bidfailed as "he didn't have enough money" Moyes supplied a lettersaying he had £50m However, Horne agrees, the letter turned out to be aforgery.

    Horne Also some "internet stuff"suggested Mr Anderson appeared to be a "conman" Adds "It didn'tsmell right at all."

    Horne said Rangers asked Price WaterhouseCooper to investigate Mr Anderson as they were worried about publicity.

    Horne "We might have let Kenny Moyesdown gently as he was a victim of the con" Findlay "He wasduped?" Horne "Yes"

    Horne "It was a joke really"

    Horne says a Vladimir Antonov was the nextperson to approach Murray about buying the club. Offered £5.5m produced aLithuanian bank letter

    Horne says he is interested in football"but not passionately" Had heard about other Lithuanian owners inScottish football, thought "oh no" J

    Horne says reaction of Rangers fans wouldbe "one of horror"

    Horne says Mr Antonov provided a report onhimself. Findlay "There are good bits to come"








    Says FBI has expressed concern about him reSAAB

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  12. #37181
    @hibs.net private member Moulin Yarns's Avatar
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    Findlay says "there was a dubiousincident when a Moldovan businessman found dead, Mr Antonov's dad shot dead byChechens"

    Adds "Mr Antonov might have went downwell in Govan' Laughter in court

    Findlay Rangers were in a position thatmajority shareholder had decided to sell the club but all that came forward wasthis "motely crew"











    Court adjourns for lunch. Back at 2pm


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  13. #37182
    Testimonial Due Sioux's Avatar
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    Even Hertz are getting a mention now;

    Horne says a Vladimir Antonov was the next person to approach Murray about buying the club. Offered £5.5m produced a Lithuanian bank letter

    Horne says he is interested in football "but not passionately"
    Had heard about other Lithuanian owners in Scottish football, thought "oh no"

    Horne says reaction of Rangers fans would be "one of horror"

  14. #37183
    @hibs.net private member Moulin Yarns's Avatar
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    Proceedings resume with Donald Findlaycontinuing his cross-examination of former Murray Group lawyer David Horne


    Findlay says he is looking at differentpieces of material as if they were an "imaginary jigsaw"

    Findlay as a consequence of the financialcrisis Murray Group has to restructure, decision made Rangers should be soldHorne "yes"

    Findlay No bids reach a conclusion, Murray Groupcould no longer put funds into Rangers Horne Correct

    Horne "The bank's stated position wasthey didn't want to make loans to football clubs especially in Scotland"

    "The bank wanted a sustainablebusiness plan in which the club would live within its means"

    Horne says debt was reduced due to reducedspending on the football club, and increased European income.

    Horne "You really needed to get intothe Champions League, the Europa league generated virtually nothing"

    Court shown email, 10 Feb 2010, Horne toDonald McIntyre "information memorandum, project Charlotte"

    The club had produced a business planFY10...supports sustainable success..without relying on UCL qualification.'

    Continues no infrastructure spendingFindlay "Yet 12 months later £1.7m for infrastructure?"

    Horne: No-one aware of problems with fastfood bars on tannoy"

    Horne "The club won the SPL with thatplaying squad, problem was fans were looking back to days of Gascoigne andLaudrup"

    Findlay: You send out a document with noindication of need to spend money on infrastructure of stadium, workingcapital, playing squad."

    Findlay 12 months later you want £2m forinfrastructure and money for playing squad..this is just advertising fluff.

    Horne: When you sell a house you don'tadvertise problems..the buyer should be aware.



    continues
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  15. #37184
    @hibs.net private member Moulin Yarns's Avatar
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    " If the club didn't spend too much onplayers wouldn't need to qualify for the Champions League"

    Findlay "No sustainable business planhas ever won a football match" Horne "I disagree"

    Findlay moves on to the small tax case,asks what steps Horne took about it? Witness says he took advice about it

    Findlay; the problem with the Rangers taxscheme was side letters had been issued Horne decision made to re-routesalaries made it taxable

    Letter 26 Nov 2010 from HMRC to MurrayGroup on small tax case Asks for reply on liability by 31 Dec. Continues"Additional documents have came to light," encloses copy of these,Total liability​, £ 2,238,550. Adds "interest is running"

    Horne agrees he received a copy of the HMRCletter.

    Horne says HMRC had got a positive decisionin a similar case, and were saying "now is the time to pay up"

    Findlay asksif "side letters" were given to HMRC or had been found by them? Hornesays found by HMRC as result of "big tax case,"

    Findlay says final bill was £2.8m "howdid this happen" Horne says he thinks "club didn't have the money topay it at the time"

    Adds, they also sought a legal opinion.Findlay: bill increasing on a daily basis, why did this take so long? Horne,issue for RFC board

    Findlay notes meeting with counsel was 24Feb 2011, "Why on earth did it take so long" Horne says he is notentirely sure

    Findlay: took from Nov 2010 to 24 Feb 2011to meet a QC to be told "Pay up or reach a settlement?"

    Horne says he believed the club didn't havethe funds to meet the bill.

    Findlay: It was decided to do nothing andlet the new owner pay the bill?" Horne "Effectively yes" DF"£2.2,m allowed to become £2.8m" (Goan yersel’ DF)

    If Whyte deal fell through who would pay?Horne says bank of Scotland as "wouldn't wanted to see Rangers go bust ontheir watch"

    Findlay "So much for robust financialplanning"

    Findlay "Did you know the squad was ashambles" Horne "They won the SPL" DF ",Winning the SPLgets you nowhere, they got into Europe and got bumped our by Malmö"





    Court takes a short break
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  16. #37185
    @hibs.net private member Moulin Yarns's Avatar
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    Proceedings resume, Donald Findlaycontinues his cross-examination of David Horne

    Findlay "Aren't you confusing footballsuccess with commercial success" Horne "Not so much commercialsuccess as commercial survival."

    Court shown Rangers Annual Report 2010.Says "retained profit £4.2m an overall increase of £16.5m on prior year Findlay,the year before Rangers went out of the Champions League from a team from"of all places Lithuania"

    Findlay: this shows how important Europe isfinancially. The next year knocked out by Malmö "11 men on the pitch"make the difference

    Horne says depends on cost of squad Findlay"The further you get in Europe the more you can pay for players"

    Findlay says there are many models ofrunning a football club, says Alistair Johnson one was when money is tight"Buy more players"

    Adds "This is a suicide strategy"

    Horne says you could also borrow from thebank but this possibility disappeared in 2008

    Findlay says qualifying for Europe dependson luck of draw, how players perform on the night. Describes these as"imponderables"

    Horne, in the Walter Smith era quite a fewplayers were bought after Rangers' were put out of Europe

    Findlay "How on earth did Murray letthis get into such a mess, why didn't they just cut the costs?" LastStacey asks relevance?

    Lady Stacey "How it got to this stagecould take us all the time we've got" DF "I'm not in the business offlying kites" Continues "That is a number of times you've asked methat in front of the jury, is not fair"

    Horne "Historically Rangers and Celticwill finish first or second, so you have a guaranteed income" Findlay"Until you go to Lithuania"

    Findlay " the bank might step in dueto bad publicity if Rangers went bust? Horne agrees "What would Murray doabout the bad publicity?"

    Horne says the bank would have to agree toany fund injection Findlay "You want to sell the first chance youget" Horne: We did

    Findlay moves on to big tax case, Hornesaid EBT scheme began in 2001, applied to executives across the group

    Hoare says 85% of the EBT's were issued toRangers, 15% to rest of Murray Group. Says liability was "lots of millionsof pounds"

    Findlay on big tax case "Murray waslooking at Rangers saying 'That's your problem not ours'" Horne says ismatter of company law

    Horne adds the 85% 15% spilt reflected thelevel of wages football players received.
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  17. #37186
    @hibs.net private member Moulin Yarns's Avatar
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    Findlay moves on to Alistair Johnson, Hornesays he joined the Rangers board I 2004

    Findlay He would be aware of the bank'sdesire to be out of Rangers Horne Yes

    Findlay suggests Johnson would know buyingmore players when in debt was "a potentially catastrophic plan" HorneYes

    Findlay Wasn't the board being run byJohnson on "an almost fantasy view.. "The bank was to blame forlending Rangers money?"

    Findlay Did Johnson adopt the view the taxcase was the responsibility​ of Murray not the club? Horne "He may havewhen he became chairman"

    Findlay "There was a man named PaulMurray who came up with a splendid plan, the bank wouldn't want it's moneyback'

    Horne agrees he was on the board

    Findlay Johnson and Murray "didn'thave a clue...Mr King had his own issues..How was Murray letting these peoplerun his football club?"

    Horne "They were big Rangers guys,they seemed to fit the bill"

    Findlay says Mr Johnson "probablyillegally" increased the salary of the chief executive Horne "I don'tknow why Alistair did that' They didn't know what they were doing?" Horne"Not strictly fair..had good skillset, not equipped for the financialcrisis"

    Findlay "Not equipped for thechallenges they faced," Horne says a lot of companies were at that time

    Adds "They wanted the best for theclub, had to face up to the reality of financial constraints they never had toface before"

    Adds The Bain pay rise was"Crazy"




    Court adjourns, back at 10am tomorrow
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  18. #37187
    @hibs.net private member Hibernia&Alba's Avatar
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    For those of us who aren't following the case closely, what's the best outcome for those of us who hate The Rangers? Could it have serious consequences for their current incarnation?
    HIBERNIAN FC - ON THE RIGHT SIDE OF HISTORY SINCE 1875

  19. #37188
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by Hibernia&Alba View Post
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    For those of us who aren't following the case closely, what's the best outcome for those of us who hate The Rangers? Could it have serious consequences for their current incarnation?


    Someone else asked a similar question last week. This is what I posted then.

    If you mean the current entity, I'm not sure that there is a preferred outcome.

    There is a fanciful scenario whereby, as a result of this particular case, BDO start civil proceedings against some of the individuals involved. If that were to happen, Oldco might be in a position to buy back their assets. But that's for Series 8....we're only on Series 5.

    To answer your question, it's a bit like watching Hearts play Rangers. We want them all to kick **** out of each other....which is what is happening...and for them all to get red cards. The result is almost irrelevant

  20. #37189
    @hibs.net private member Hibernia&Alba's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    Someone else asked a similar question last week. This is what I posted then.

    If you mean the current entity, I'm not sure that there is a preferred outcome.

    There is a fanciful scenario whereby, as a result of this particular case, BDO start civil proceedings against some of the individuals involved. If that were to happen, Oldco might be in a position to buy back their assets. But that's for Series 8....we're only on Series 5.

    To answer your question, it's a bit like watching Hearts play Rangers. We want them all to kick **** out of each other....which is what is happening...and for them all to get red cards. The result is almost irrelevant
    Cheers, CWG; I'd be delighted if the legal fallout could deepen their crisis even further. Any legal decision that could cause them pain is to be welcomed.
    HIBERNIAN FC - ON THE RIGHT SIDE OF HISTORY SINCE 1875

  21. #37190
    @hibs.net private member lapsedhibee's Avatar
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    Continues " group and the club are being targeted by the revenue.. speculation..an anti-RFC sentiment amongst HMRC individuals".

    Yep, tax collection is a kafflick conspiracy.

  22. #37191
    @hibs.net private member Moulin Yarns's Avatar
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    Day 21 in the Big Hoose

    Proceedings resume with Donald Findlay QCcontinuing his cross-examination of former Murray Group solicitor David Horne

    Findlay opens by showing the court a minuteof a conference call, 31 May 2010. Participants, McGill, Horne, Bain andAlistair Johnston

    Call was to discuss the "big taxcase"

    Continues " group and the club arebeing targeted by the revenue.. speculation..an anti-RFC sentiment amongst HMRCindividuals

    Exposure of club in region of £75m to £85m.If case lost "club facing insolvency" (Now we are getting somewhere)

    Horne says the legal advice he wasreceiving was that the club would win it's case. Agrees that insolvency was notthe "legacy" Murray would want to leave at Rangers

    Email Horne to McGill 3 November 2010"We need to be very careful what we disclose about the tax case"

    "Do we want to involve Ellis"

    Horne "No-one was going to hideanything, not appropriate to disclose at this time." Adds informationgiven to Whyte team later

    "Didn't want to disclose informationuntil we knew deal was taking place" Says Whyte was invited to meeting todiscuss issue in January

    Findlay on the small tax case "people weredithering" Horne disagrees, says club didn't have the funds to pay the£2.8m

    Horne RFC chairman Alistair Johnston wantedmore spent on players to ensure season ticket sales, but Lloyds would not"support the strategy

    Horne agrees as a solicitor he has a dutyto inform a client if what they want to do is illegal

    Findlay "When was third partyresources entered into the Share Purchase Agreement" Horne says he can'tremember.

    Agrees he has "seen the wording of theagreement"

    Horne says he believed Whyte's solicitorGary Withey was "not thinking things through properly" recalls hedidn't know Rangers was a PLC

    Horne agrees the Whyte bid for Rangers was"the only show in town" No-one else waiting in the wings

    Horne says Alistair Johnston wanted to putthe sale "on hold" until the end of the season but his request wasrejected by Murray. Agrees one reason for not delaying sale was the possibilityWhyte would walk away or refuse to pay liability for small tax case

    "The real driving force on the dealwas the bank debt" Lloyds wanted to be repaid.

    Agrees Whyte paid the bank debt off.

    Findlay notes Gary Withey testified he wasnot provided with information on the tax cases Horne "Maybe heforgot."

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  23. #37192
    @hibs.net private member Moulin Yarns's Avatar
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    Part 2

    Findlay moves on to the Rangers board. Notes one member Whyte wanted to keep was Donald Muir from the Murray Group.



    "If Whyte had anything to hide from Murray would he want his man on the board"

    "Would it be normal to invite the fox into the henhouse?'

    Horne Whyte might want Muir on the board as he had been "restructuring the cost base" Didn't happen as Muir thought was inappropriate

    Horne says he can't recall if he told Whyte about a meeting he had with HMRC 5 days before the deal completed

    Adds that Whyte didn't pay the revenue at completion because he wanted to appeal judgment

    Findlay: Murray needed to sell Rangers, was going to sell to Whyte whatever happened. Horne "The deal was acceptable to the Murray Group" (Murray not ‘duped’ then)

    Findlay asks Horne about due diligence Murray carried out on Whyte. Notes other bidders were checked by PWC

    You were prepared to pay PWC to produce glossy brochures, how much did you spend doing due diligence on Whyte Horne "Not very much, nothing"

    Horne "Can I tell you why?" Findlay "I'll ask the questions"

    Findlay "The only thing you did was take Withey's say so" Horne "We did searches on the internet"

    Horne denies he is "passing the buck"

    Findlay "You could have investigated everything about Whyte from his first piggy bank to his inside leg measurement" Horne says Whyte was represented by a well known firms of lawyers.

    Horne confirms he has heard of David Grier, later of Duff and Phelps

    Findlay asks about an email from Mike McGill saying Grier had "let slip" there were other Investors "Did you investigate?" Horne says no Adds issue did not arise again

    Lady Stacey asks the witness to wait until the question is over before answering.

    Findlay "Why did you do nothing when you were told there were other Investors?" Horne: no further mention of it Whyte should have disclosed

    Court takes morning break

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  24. #37193
    @hibs.net private member Moulin Yarns's Avatar
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    Proceedings resume with Donald Findlay QCcontinuing cross-examination of former Murray Group solicitor David Horne

    Findlay Murray's attitude was 'we've donewhat we can' let board investigate Whyte. Horne No

    Court shown email from Horne, 28 Feb 2011,"The ISC is able to do it's own DD" Horne We were comfortable withWhyte's advisers

    Court shown handwritten note by AlistairJohnston "11/23/10" "NB Octopus £15m an attempt to borrow"

    Note of same meeting from Mike McGill"Octopus-meeting discussing with CW re £15m poss working cap"

    Findlay suggests notes show Horne knew inNov 2010 Whyte was in contact with Octopus re a £15m loan facility. Horne"That would appear to be the case" Adds thought was just for workingcapital

    Findlay asks if Horne asked Whyte aboutOctopus? Horne "We weren't aware" Horne, "You can't read theshare purchase agreement in isolation from other documents Mr Findlay"

    Horne, there was a binding undertakingFindlay "Any contract can be broken Mr Horne"

    Findlay "Are you seriously suggestingyou signed a contract without a remedy if it was broken?" Horne "Youare a criminal lawyer Mr Findlay" Adds "Not a corporate lawyer"Findlay "Discourtesy doesn't help" Horne "Don't take itpersonally Mr Findlay"

    Judge intervenes" Lady Stacey "Wehave to listen to this, discourtesy doesn't help anyone"

    Findlay on Ticketus funds "Would itsurprise you if the takeover panel knew" Horne "That would surpriseme."

    Findlay shows the witness a "filenote" 30 March 2011, says from a Raymond Phillips at the takeover panel

    "Current proposal Craig Whyte woulduse future sales of season tickets to replace Lloyds bank funding"

    Findlay A whole range of people knew aboutTicketus deal, obvious Murray could have found out Horne: Not obvious at all,we had no knowledge (and who’s fault is that? )

    Findlay "If you want something in acontract you put it in clear terms, you didn't " Horne "badlydrafted" need to read other document

    There is no such thing as too much yarn, just not enough time.

  25. #37194
    @hibs.net private member Moulin Yarns's Avatar
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    Last Stacey asks witness to slow down as she is taking notes


    Horne says there is a document about third party funding being for working capital, given bundle but after looking says he "can't find it"

    Donald Findlay ends his cross-examination and returns to his seat

    The Advocate Depute rises to re-examine Mr Horne

    AD shows Horne an email, from Gary Withey April 2011, CC'd to "David Fraser" who, he says, is David Murray

    In email Withey confirms Wavetower will be providing £5m of working capital.

    Letter in which Whyte says he has a £5m credit facility from a UK financial institution. Horne, that's the letter I was looking for

    AD ends, Mr Horne steps down from the witness box. AD says he is "not in a position to lead more evidence today."

    Lady Stacey says that as Monday is a Glasgow holiday she will adjourn​ until Tuesday. Court rises
    There is no such thing as too much yarn, just not enough time.

  26. #37195
    @hibs.net private member Moulin Yarns's Avatar
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    Day 22 in the Big Hoose








    Breaking: Prosecution rest their case against Craig Whyte

    more to follow
    There is no such thing as too much yarn, just not enough time.

  27. #37196
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by Golden Fleece View Post
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    Day 22 in the Big Hoose








    Breaking: Prosecution rest their case against Craig Whyte

    more to follow
    No Duff and Duffer, or Grier? I am surprised. Perhaps the AD considered that they'd be rich pickings for Findlay.

  28. #37197
    @hibs.net private member Moulin Yarns's Avatar
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    Advocate Depute says he proposesammendments to the indictment to take into account evidence heard so far

    Ammendments 1. Ammend dates from charge 1

    Futher ammendments delete various parts ofthe charge, ie Worthington Group address, Dorchester hotel

    AD proposes the names Andrew Ellis, PhillipBetts and David Grier be removed from the indictment​

    Donald Findlay says he has no comment onthe ammendments, judge allows them Defence case begins, Findlay says he haslegal matters to raise

    Lady
    Stacey tells the jury they are discharged for the rest of the day

    Well, that was a short day!
    There is no such thing as too much yarn, just not enough time.

  29. #37198
    @hibs.net private member Moulin Yarns's Avatar
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    Proceedings are continuing at Glasgow High Court,but as jury not present they cannot be reported until the trial is over
    There is no such thing as too much yarn, just not enough time.

  30. #37199
    Coaching Staff Iain G's Avatar
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    Quote Originally Posted by Golden Fleece View Post
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    Proceedings are continuing at Glasgow High Court,but as jury not present they cannot be reported until the trial is over
    Big tease!

    So what do the actions of the day actually mean?!

  31. #37200
    Coaching Staff Ozyhibby's Avatar
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    Don't think the prosecution has presented a slam dunk case that Whyte is guilty here. And that's before the defence even starts.


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