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Greentinted
24-05-2011, 10:23 AM
Looks like some misappropriation of pennies has occurred at Sectarian Central.



Martin Bain - odious individual. (http://sport.stv.tv/football/scottish-premier/rangers/251815-rangers-suspend-bain-and-mcintyre-over-irregularities/)

steakbake
24-05-2011, 10:32 AM
I'm glad to see the back of Bain. He's always been a dismal apologist for the nasty element in the Rangers support.

Stevie Reid
24-05-2011, 10:40 AM
http://news.bbc.co.uk/sport1/hi/football/13518277.stm

adhibs
24-05-2011, 10:50 AM
dunno why but ive always hated bain. Him and that club went together well though

NORTHERNHIBBY
24-05-2011, 11:37 AM
What a message this new bloke would have sent out, if he had given John Grieg his pansy potters. Talk about nobody being bigger than the club. I always though Bain and Rangers were supremely well matched. Rude and arrogant, complete conceit of themselves and a misguided interpretation of their own importance.

Hibs Class
24-05-2011, 11:47 AM
This just seems a natural step in the inevitable path towards Bain being chief something or another at Hearts.

JackRegan
24-05-2011, 11:49 AM
This is just the start....:wink:

Wait till who Whyte is fronting is revealed. :thumbsup:

3pm
24-05-2011, 11:50 AM
This is just the start....:wink:

Wait till who Whyte is fronting is revealed. :thumbsup:

Neil Lennon...

steakbake
24-05-2011, 12:02 PM
This is just the start....:wink:

Wait till who Whyte is fronting is revealed. :thumbsup:

You can't pile on here and leave that hanging. That's like farting in a lift just before you get out.

Is there anything which has allegedly happened, or is there a wee "let's say for example x happened" scenario which might be the case?

Andy74
24-05-2011, 12:05 PM
This is just the start....:wink:

Wait till who Whyte is fronting is revealed. :thumbsup:

I believe his investment company handles a lot of funds on behalf of the Vatican. Rangers could be a nice wee investment for the Catholic church. Can't see how that would go down badly? :greengrin

JackRegan
24-05-2011, 12:08 PM
You can't pile on here and leave that hanging. That's like farting in a lift just before you get out.

Is there anything which has allegedly happened, or is there a wee "let's say for example x happened" scenario which might be the case?

The guy who ran the Scotzine website got a letter from Carter Ruck for less. Yes Carter Ruck of super injunction fame got onto some loner Tim with too much time on his hands.

A few people have been asking similar questions over the structure of Rangers’ takeover. It is more productive to write a post about this rather than answer the same question many times. The interesting part about this comes from the obsessive secrecy surrounding this transaction. The secrecy is a bit of a surprise given that one of the few logical reasons for buying a football team is to get a lot of free publicity (David Murray got to go gambling with a billion pounds of HBOS’ cash due to his ability to cultivate an image through his ownership of Rangers. He was not keeping it a secret).
Murray International Holdings Ltd sold its 85% shareholding to a company that was then called Wavetower. Wavetower also purchased Rangers’ £18m bank debt from Lloyds. They did not clear that debt. Rangers FC now owes its parent company this money. (An additional £10m or so is also owed to other creditors. This has also not been cleared).

Wavetower changed its name to The Rangers FC Group Ltd. on 12th May.
The directors of The Rangers FC Group Ltd. are:
Craig Whyte
Andrew Ellis
Phillip Betts

The single share issued in the company that owns Rangers is held by:
Jordan Nominees (Scotland) Ltd.

Nominee shareholdings are used to hide the identity of the shareholders in a company. There are legitimate reasons why you might do this e.g. if Shell had just developed a new type of fuel and did not want its competitors or partners on other ventures to know that it was behind the new invention. They would register the patent under a company that uses a nominee shareholder to disguise the true owner. The nominee shareholder is obliged by contract to act on behalf of the real “beneficial owners”.

So, if you did not want your name in the papers as being an owner of Rangers FC, then you can hide behind a nominee shareholder while still having legal authority over your investment.

Given that Craig Whyte, Andrew Ellis, and Phillip Betts are listed with Companies House as directors, they do not get much benefit from secrecy. Presumably there is someone else behind the scenes who would like to keep a low profile.

The secret of who really owns Rangers would be of interest to virtually the entire population of Scotland and many people beyond. Do not expect anyone in the Scottish media to even dare raise this issue.

Oh and this is before what has gone on at Ibrox under the watch of Murray, Bain etc.

Ollie Reed
24-05-2011, 12:12 PM
I get mixed up between these two gents...

http://static.guim.co.uk/sys-images/Football/Pix/pictures/2011/5/7/1304802928277/Craig-Whyte-007.jpg

http://www.reformparliament.co.uk/images/alan-bstard.jpg

Pretty sure both of them are *******s though.

DaveF
24-05-2011, 12:13 PM
The guy who ran the Scotzine website got a letter from Carter Ruck for less. Yes Carter Ruck of super injunction fame got onto some loner Tim with too much time on his hands.

A few people have been asking similar questions over the structure of Rangers’ takeover. It is more productive to write a post about this rather than answer the same question many times. The interesting part about this comes from the obsessive secrecy surrounding this transaction. The secrecy is a bit of a surprise given that one of the few logical reasons for buying a football team is to get a lot of free publicity (David Murray got to go gambling with a billion pounds of HBOS’ cash due to his ability to cultivate an image through his ownership of Rangers. He was not keeping it a secret).
Murray International Holdings Ltd sold its 85% shareholding to a company that was then called Wavetower. Wavetower also purchased Rangers’ £18m bank debt from Lloyds. They did not clear that debt. Rangers FC now owes its parent company this money. (An additional £10m or so is also owed to other creditors. This has also not been cleared).

Wavetower changed its name to The Rangers FC Group Ltd. on 12th May.
The directors of The Rangers FC Group Ltd. are:
Craig Whyte
Andrew Ellis
Phillip Betts

The single share issued in the company that owns Rangers is held by:
Jordan Nominees (Scotland) Ltd.

Nominee shareholdings are used to hide the identity of the shareholders in a company. There are legitimate reasons why you might do this e.g. if Shell had just developed a new type of fuel and did not want its competitors or partners on other ventures to know that it was behind the new invention. They would register the patent under a company that uses a nominee shareholder to disguise the true owner. The nominee shareholder is obliged by contract to act on behalf of the real “beneficial owners”.

So, if you did not want your name in the papers as being an owner of Rangers FC, then you can hide behind a nominee shareholder while still having legal authority over your investment.

Given that Craig Whyte, Andrew Ellis, and Phillip Betts are listed with Companies House as directors, they do not get much benefit from secrecy. Presumably there is someone else behind the scenes who would like to keep a low profile.

The secret of who really owns Rangers would be of interest to virtually the entire population of Scotland and many people beyond. Do not expect anyone in the Scottish media to even dare raise this issue.

Oh and this is before what has gone on at Ibrox under the watch of Murray, Bain etc.

So if they won't reveal this wonder secret, who will.

If it anyone other than the Pope you are letting us down Jack.

Baldy Foghorn
24-05-2011, 12:15 PM
I get mixed up between these two gents...

http://static.guim.co.uk/sys-images/Football/Pix/pictures/2011/5/7/1304802928277/Craig-Whyte-007.jpg

http://www.reformparliament.co.uk/images/alan-bstard.jpg

Pretty sure both of them are *******s though.

:top marks:faf::faf:

Ollie Reed
24-05-2011, 12:17 PM
So if they won't reveal this wonder secret, who will.

If it anyone other than the Pope you are letting us down Jack.

That's cos it probably is Jack himself.

Well done on acquiring Rangers, Jack.:aok:

steakbake
24-05-2011, 12:18 PM
So if they won't reveal this wonder secret, who will.

If it anyone other than the Pope you are letting us down Jack.

It is possible to find the suggested name on another internet site. A look on google will probably help.

JackRegan
24-05-2011, 12:20 PM
So if they won't reveal this wonder secret, who will.

If it anyone other than the Pope you are letting us down Jack.

Dunno, maybe the Pope's nazi past will cut him some slack wi ra Bears.

This name is not on any celtic site either, but the guys who got it (and got pretty much everything on rangers, whyte among others) will be bale to confirm it in the next two weeks.:agree:

Suffice to say one of the individuals concerned is suspected of serious organised crime and that his money is as clean as the wee guys who watch yer moatir when you visit that wonder of 20th century architecture and engineering that is Celtic Park.

Andy74
24-05-2011, 12:22 PM
The guy who ran the Scotzine website got a letter from Carter Ruck for less. Yes Carter Ruck of super injunction fame got onto some loner Tim with too much time on his hands.

A few people have been asking similar questions over the structure of Rangers’ takeover. It is more productive to write a post about this rather than answer the same question many times. The interesting part about this comes from the obsessive secrecy surrounding this transaction. The secrecy is a bit of a surprise given that one of the few logical reasons for buying a football team is to get a lot of free publicity (David Murray got to go gambling with a billion pounds of HBOS’ cash due to his ability to cultivate an image through his ownership of Rangers. He was not keeping it a secret).
Murray International Holdings Ltd sold its 85% shareholding to a company that was then called Wavetower. Wavetower also purchased Rangers’ £18m bank debt from Lloyds. They did not clear that debt. Rangers FC now owes its parent company this money. (An additional £10m or so is also owed to other creditors. This has also not been cleared).

Wavetower changed its name to The Rangers FC Group Ltd. on 12th May.
The directors of The Rangers FC Group Ltd. are:
Craig Whyte
Andrew Ellis
Phillip Betts

The single share issued in the company that owns Rangers is held by:
Jordan Nominees (Scotland) Ltd.

Nominee shareholdings are used to hide the identity of the shareholders in a company. There are legitimate reasons why you might do this e.g. if Shell had just developed a new type of fuel and did not want its competitors or partners on other ventures to know that it was behind the new invention. They would register the patent under a company that uses a nominee shareholder to disguise the true owner. The nominee shareholder is obliged by contract to act on behalf of the real “beneficial owners”.

So, if you did not want your name in the papers as being an owner of Rangers FC, then you can hide behind a nominee shareholder while still having legal authority over your investment.

Given that Craig Whyte, Andrew Ellis, and Phillip Betts are listed with Companies House as directors, they do not get much benefit from secrecy. Presumably there is someone else behind the scenes who would like to keep a low profile.

The secret of who really owns Rangers would be of interest to virtually the entire population of Scotland and many people beyond. Do not expect anyone in the Scottish media to even dare raise this issue.

Oh and this is before what has gone on at Ibrox under the watch of Murray, Bain etc.

I think that's all a bit dramatic. Nominee accounts are pretty mundane to be honest and far from being some cover for people they are generally used by banks/investment companies to manage their holdings in various entities under the same identifiable name.

JackRegan
24-05-2011, 12:22 PM
It is possible to find the suggested name on another internet site. A look on google will probably help.

You might get names bandied about on Twitter, but until such times as they appear on two sites, you willnot know ithey are genuine or not.

Kerrydalestreet, Huddleboard and CelticMinded moderators are removing any posts who name this guy.

Killiehibbie
24-05-2011, 12:26 PM
Dunno, maybe the Pope's nazi past will cut him some slack wi ra Bears.

This name is not on any celtic site either, but the guys who got it (and got pretty much everything on rangers, whyte among others) will be bale to confirm it in the next two weeks.:agree:

Suffice to say one of the individuals concerned is suspected of serious organised crime and that his money is as clean as the wee guys who watch yer moatir when you visit that wonder of 20th century architecture and engineering that is Celtic Park.Did I hear him advertising his new charm offensive to be read in The Sun this week?

DaveF
24-05-2011, 12:28 PM
The guy who ran the Scotzine website got a letter from Carter Ruck for less. Yes Carter Ruck of super injunction fame got onto some loner Tim with too much time on his hands.

A few people have been asking similar questions over the structure of Rangers’ takeover. It is more productive to write a post about this rather than answer the same question many times. The interesting part about this comes from the obsessive secrecy surrounding this transaction. The secrecy is a bit of a surprise given that one of the few logical reasons for buying a football team is to get a lot of free publicity (David Murray got to go gambling with a billion pounds of HBOS’ cash due to his ability to cultivate an image through his ownership of Rangers. He was not keeping it a secret).
Murray International Holdings Ltd sold its 85% shareholding to a company that was then called Wavetower. Wavetower also purchased Rangers’ £18m bank debt from Lloyds. They did not clear that debt. Rangers FC now owes its parent company this money. (An additional £10m or so is also owed to other creditors. This has also not been cleared).

Wavetower changed its name to The Rangers FC Group Ltd. on 12th May.
The directors of The Rangers FC Group Ltd. are:
Craig Whyte
Andrew Ellis
Phillip Betts

The single share issued in the company that owns Rangers is held by:
Jordan Nominees (Scotland) Ltd.

Nominee shareholdings are used to hide the identity of the shareholders in a company. There are legitimate reasons why you might do this e.g. if Shell had just developed a new type of fuel and did not want its competitors or partners on other ventures to know that it was behind the new invention. They would register the patent under a company that uses a nominee shareholder to disguise the true owner. The nominee shareholder is obliged by contract to act on behalf of the real “beneficial owners”.

So, if you did not want your name in the papers as being an owner of Rangers FC, then you can hide behind a nominee shareholder while still having legal authority over your investment.

Given that Craig Whyte, Andrew Ellis, and Phillip Betts are listed with Companies House as directors, they do not get much benefit from secrecy. Presumably there is someone else behind the scenes who would like to keep a low profile.

The secret of who really owns Rangers would be of interest to virtually the entire population of Scotland and many people beyond. Do not expect anyone in the Scottish media to even dare raise this issue.

Oh and this is before what has gone on at Ibrox under the watch of Murray, Bain etc.

You might have credited the website where you lifted this from Jack.

And here was me thinking there was one Celtc fan who could express himself correctly :greengrin

Andy74
24-05-2011, 12:29 PM
A quick check shows this company is part of a company formation and incorpoaration service.

Looks lilely that it was just part of the set up of the new entity.

JackRegan
24-05-2011, 12:30 PM
I think that's all a bit dramatic. Nominee accounts are pretty mundane to be honest and far from being some cover for people they are generally used by banks/investment companies to manage their holdings in various entities under the same identifiable name.

In normal circumstances, I woudl agree, however bear in mind the following:

1.) Literally minutes after the takeover was announced, a statement appeared on Rangers website, denouncing Whyte. This followed statements to that effect made by Paul Murray, Alistair Johnston and Martin Bain. This statement remained for 6 hours before being removed.

2.) The above named, recently departed hun Directors, despite repeated requests, were never provided with an answer as to the source of Wavetower's funds.

3.) Two Rangers directors were fired today. Another two were suspended for "Financial irregularities".

4.) Rangers again offered, just last week an increased offer to settle their tax bill, it was rejected

Whyte does not have the money himself. Neither does Ellis and neither does Betts.

Only one is a Rangers fan (Whyte) and even then his first love was Motherwell.

They are front men, who helped Murray get off the stage before the music stops and this is the start of the blame game.

silverhibee
24-05-2011, 12:31 PM
Neil Lennon...

I am Neel Lenin. :greengrin

steakbake
24-05-2011, 12:32 PM
Did I hear him advertising his new charm offensive to be read in The Sun this week?

Hmmm. As far as I have managed to dig, it is a pretty incredible suggestion that he would be the new owner of RFC.

I would be amazed if it was him. It would be funny as f.... but I would be genuinely amazed.

JackRegan
24-05-2011, 12:34 PM
You might have credited the website where you lifted this from Jack.

And here was me thinking there was one Celtc fan who could express himself correctly :greengrin

Thing is, that one is normally always a day late:agree:

CelticResearch on Twitter and a certain Donegal based juornalist are usually the trailblazers here.

Said journalist was keeping his powder dry and the race is is on to name names first. :greengrin

Believing in Conspiracies does devlop certain skills.

And not a Private Detective in sight. :greengrin

MussiHibee
24-05-2011, 12:35 PM
Bain is very dodgy. Sure he got a villa in Spain/ France out the Boumsong deal years ago.

JackRegan
24-05-2011, 12:35 PM
Did I hear him advertising his new charm offensive to be read in The Sun this week?

The Pope is running a charm offensive in The Sun? :confused:

Seveno
24-05-2011, 12:38 PM
And if you really like conspiracy theories ..............

http://rangerstaxcase.com/2011/05/23/do-you-want-to-know-a-secret/

Moulin Yarns
24-05-2011, 12:39 PM
You might get names bandied about on Twitter, but until such times as they appear on two sites, you willnot know ithey are genuine or not.

Kerrydalestreet, Huddleboard and CelticMinded moderators are removing any posts who name this guy.

When are you going to post a 'shadowy image' of the named person :wink:

Killiehibbie
24-05-2011, 12:39 PM
Hmmm. As far as I have managed to dig, it is a pretty incredible suggestion that he would be the new owner of RFC.

I would be amazed if it was him. It would be funny as f.... but I would be genuinely amazed.Can't see it being him but as you say it would be funny as :greengrin

CropleyWasGod
24-05-2011, 12:43 PM
Bain is very dodgy. Sure he got a villa in Spain/ France out the Boumsong deal years ago.

On the face of it, that's not dodgy to me. Rangers made a packet out of Boumsong, so why wouldn't the employees involved in the deal be enititled to a bonus?

JackRegan
24-05-2011, 12:45 PM
And if you really like conspiracy theories ..............

http://rangerstaxcase.com/2011/05/23/do-you-want-to-know-a-secret/

That site has been spot on on everything. Late, but spot on all the same.

He has been threatened with legal action on several occasions as well.

Remember, it was Celtic fans who broke the Rangers Tax story and it was Celtic fans who pressed the issue of the financial woes of Rangers, although the latter has done us more harm than good I'd say.

Andy74
24-05-2011, 12:46 PM
And if you really like conspiracy theories ..............

http://rangerstaxcase.com/2011/05/23/do-you-want-to-know-a-secret/

Aye, however the nominee company in question is just part of a company formation business.

Edit: Directors of the company are Expressco Limited and a nicholas Darryl lees who works for Jordan Company Formation services.

This isn't a nominee holding on behalf of anyone, it was a parent company of an off the shelf incorporation.

Truly nothing to see here, and did no-one think of looking at this company on Companies house?

Further edit: I see sosmone does point that out to them in comment 22!

JimBHibees
24-05-2011, 12:58 PM
On the face of it, that's not dodgy to me. Rangers made a packet out of Boumsong, so why wouldn't the employees involved in the deal be enititled to a bonus?

Depends who paid for it I suppose.

easty
24-05-2011, 01:16 PM
Can't see it being him but as you say it would be funny as :greengrin

Who we talking about here? I dont read the Sun.

Why can't the person be named anyway?

And everything I've read about this so far is crap. It's like the constant posts we get on here about Hearts and how they have dodgy finances, next week I tell ye, next week they'll be bust.

steakbake
24-05-2011, 01:24 PM
Who we talking about here? I dont read the Sun.

Why can't the person be named anyway?



It's the Raploch's one and only "Big" Mags Haney.

Spike Mandela
24-05-2011, 01:27 PM
Hmmm. As far as I have managed to dig, it is a pretty incredible suggestion that he would be the new owner of RFC.

I would be amazed if it was him. It would be funny as f.... but I would be genuinely amazed.

Is it Ryan Giggs?
























......................Oops wrong thread:greengrin

crewetollhibee
24-05-2011, 01:33 PM
You might get names bandied about on Twitter, but until such times as they appear on two sites, you willnot know ithey are genuine or not.

Kerrydalestreet, Huddleboard and CelticMinded moderators are removing any posts who name this guy.
Jack, can't you have a quiet word with your local MP ? :wink:

JackRegan
24-05-2011, 01:36 PM
Jack, can't you have a quiet word with your local MP ? :wink:

I'm no longer in the Paisley area.....

did you do what I think you did there?

crewetollhibee
24-05-2011, 01:48 PM
I'm no longer in the Paisley area.....

did you do what I think you did there?
Sorry u lost me there ! Was thinking that was a way to get the name into the public domain ?

Keith_M
24-05-2011, 02:12 PM
I'm no longer in the Paisley area.....

did you do what I think you did there?

Does Ian have that kind of money?

Peevemor
24-05-2011, 02:21 PM
David Rowland :pray:

greenlex
24-05-2011, 02:42 PM
I can exclusively reveal itis Sideshow Bob.

easty
24-05-2011, 02:46 PM
I can exclusively reveal itis Sideshow Bob.

Monkhouse?

Caversham Green
24-05-2011, 02:53 PM
Aye, however the nominee company in question is just part of a company formation business.

Edit: Directors of the company are Expressco Limited and a nicholas Darryl lees who works for Jordan Company Formation services.

This isn't a nominee holding on behalf of anyone, it was a parent company of an off the shelf incorporation.

Truly nothing to see here, and did no-one think of looking at this company on Companies house?

Further edit: I see sosmone does point that out to them in comment 22!

You're spot on here Andy. I've dealt with Jordans many times in the past and will be doing so again in the next couple of weeks. There is nothing remotely dodgy about them being the owner of a single share in a new company. In the very near future that share will be transferred and new shares will be issued to the new owners - end of story. I also suspect there's less than meets the eye about the removal/suspension of the directors - I think it's just the new regime wanting to get their own people in place.

Having read a few of the "rangerstaxcase" blogs it seems to me that they are all in the same vein. There are many basic errors in their comments as they try to present spurious misguided notions as facts while missing the more obvious but mundane features of the story. There are several dubious aspects of the whole affair but the tims don't seem to have cottoned on to many of them.

The moral of the story is: never believe anything Tim tells you about Billy (or vice versa).

easty
24-05-2011, 02:54 PM
You're spot on here Andy. I've dealt with Jordans many times in the past and will be doing so again in the next couple of weeks. There is nothing remotely dodgy about them being the owner of a single share in a new company. In the very near future that share will be transferred and new shares will be issued to the new owners - end of story. I also suspect there's less than meets the eye about the removal/suspension of the directors - I think it's just the new regime wanting to get their own people in place.

Having read a few of the "rangerstaxcase" blogs it seems to me that they are all in the same vein. There are many basic errors in their comments as they try to present spurious misguided notions as facts while missing the more obvious but mundane features of the story. There are several dubious aspects of the whole affair but the tims don't seem to have cottoned on to many of them.

The moral of the story is: never believe anything Tim tells you about Billy (or vice versa).

The bit in bold. That's how I see it too, the new broom sweeps clean.

dangermouse
24-05-2011, 03:12 PM
The bit in bold. That's how I see it too, the new broom sweeps clean.

I much prefer the conspiracy that they've been bought by the Vatican :greengrin

Kojock
24-05-2011, 03:14 PM
Is it Betty The Queen Of Engurland and Alex Salmond :rolleyes:

IWasThere2016
24-05-2011, 03:15 PM
The moral of the story is: never believe anything Tim tells you about Billy (or vice versa).

:agree: Looks like nothing more than Whyte clearing the decks to me.

It is no like the Limes to be into a conspiracy now is it! :greengrin

Killiehibbie
24-05-2011, 03:36 PM
Who we talking about here? I dont read the Sun.

Why can't the person be named anyway?

And everything I've read about this so far is crap. It's like the constant posts we get on here about Hearts and how they have dodgy finances, next week I tell ye, next week they'll be bust.I don't read The Sun either but did hear Paul Ferris advertising an interview that was appearing this week. Not at all likely but would be funny. Just as funny would be if it was Mr P.

ancient hibee
24-05-2011, 03:48 PM
It's amazing what throwing the league away does for conspiracy theorists.

bighairyfaeleith
24-05-2011, 03:51 PM
So basically mad vlad has bought rangers via the backdoor and he is going to merge them with hearts to make a super duper club playing out of murrays stadium in harthill???


Have I missed anything:confused:

ancient hibee
24-05-2011, 03:53 PM
So basically mad vlad has bought rangers via the backdoor and he is going to merge them with hearts to make a super duper club playing out of murrays stadium in harthill???


Have I missed anything:confused:
Lord Lucan is to be chairman.

sixtwo
24-05-2011, 03:59 PM
So basically mad vlad has bought rangers via the backdoor and he is going to merge them with hearts to make a super duper club playing out of murrays stadium in harthill???


Have I missed anything:confused:


Vlad trying to buy rangers was rumoured before

http://www.rangers.vitalfootball.co.uk/article.asp?a=59290

would make sense now

steakbake
24-05-2011, 04:10 PM
So basically mad vlad has bought rangers via the backdoor and he is going to merge them with hearts to make a super duper club playing out of murrays stadium in harthill???


Have I missed anything:confused:

:top marks:

Kaiser1962
24-05-2011, 04:14 PM
This is quite a spiel about, as I see it, not very much. It's the nature of these things these days.

The word "presumably" in the text is the get out of jail card. Things are presented in a manner which suggest subterfuge is being used and then the word "presumably" is thrown in near the end.

A bit suspect if you ask me. Although no-one has. Or probably will. Ever.



The guy who ran the Scotzine website got a letter from Carter Ruck for less. Yes Carter Ruck of super injunction fame got onto some loner Tim with too much time on his hands.

A few people have been asking similar questions over the structure of Rangers’ takeover. It is more productive to write a post about this rather than answer the same question many times. The interesting part about this comes from the obsessive secrecy surrounding this transaction. The secrecy is a bit of a surprise given that one of the few logical reasons for buying a football team is to get a lot of free publicity (David Murray got to go gambling with a billion pounds of HBOS’ cash due to his ability to cultivate an image through his ownership of Rangers. He was not keeping it a secret).
Murray International Holdings Ltd sold its 85% shareholding to a company that was then called Wavetower. Wavetower also purchased Rangers’ £18m bank debt from Lloyds. They did not clear that debt. Rangers FC now owes its parent company this money. (An additional £10m or so is also owed to other creditors. This has also not been cleared).

Wavetower changed its name to The Rangers FC Group Ltd. on 12th May.
The directors of The Rangers FC Group Ltd. are:
Craig Whyte
Andrew Ellis
Phillip Betts

The single share issued in the company that owns Rangers is held by:
Jordan Nominees (Scotland) Ltd.

Nominee shareholdings are used to hide the identity of the shareholders in a company. There are legitimate reasons why you might do this e.g. if Shell had just developed a new type of fuel and did not want its competitors or partners on other ventures to know that it was behind the new invention. They would register the patent under a company that uses a nominee shareholder to disguise the true owner. The nominee shareholder is obliged by contract to act on behalf of the real “beneficial owners”.

So, if you did not want your name in the papers as being an owner of Rangers FC, then you can hide behind a nominee shareholder while still having legal authority over your investment.

Given that Craig Whyte, Andrew Ellis, and Phillip Betts are listed with Companies House as directors, they do not get much benefit from secrecy. Presumably there is someone else behind the scenes who would like to keep a low profile.

The secret of who really owns Rangers would be of interest to virtually the entire population of Scotland and many people beyond. Do not expect anyone in the Scottish media to even dare raise this issue.

Oh and this is before what has gone on at Ibrox under the watch of Murray, Bain etc.

sixtwo
24-05-2011, 04:17 PM
:top marks:

Everytime you post I get the urge to go to Greggs

Bostonhibby
24-05-2011, 04:48 PM
The moral of the story is: never believe anything Tim tells you about Billy (or vice versa).[/QUOTE]

:agree: " A nods as good as a wink to a blind bat" , or is it a blind bigot? :wink: something like that..................

Pedantic_Hibee
24-05-2011, 05:01 PM
Is it Ryan Giggs? :confused:

snooky
24-05-2011, 06:17 PM
Is it Ryan Giggs? :confused:

Sorry to be pedantic - see post 38 :wink:

Pedantic_Hibee
24-05-2011, 06:21 PM
Sorry to be pedantic - see post 38 :wink:

I thought I was being quick-witted too :greengrin

Spike Mandela
24-05-2011, 07:49 PM
I thought I was being quick-witted too :greengrin

Great minds think alike. :greengrin

McHibby
25-05-2011, 01:01 AM
According to Bain's lawyer, "He's going to maintain a dignified silence". That'll be a first.

Keith_M
25-05-2011, 08:46 AM
Great minds think alike. :greengrin

Actually, the full saying is


"Great minds think alike,
and fools seldom differ"


I'll let you decide for yourselves :wink:

Caversham Green
07-06-2011, 08:57 AM
More developments on this. It looks like Whyte will write off the debt unless Rangers lose the tax case - if that happens he becomes a secured creditor in the event of administration. Seems quite reasonable really and generally in favour of the club rather than the buyer, although it depends whether the caveat is to protect his money or set the basis for a phoenix company. Given the general drift of the agreement I would be inclined to go for the latter.

http://sport.scotsman.com/football/Craig-Whyte-group-confirms-its.6780877.jp?articlepage=1

Here's the communication issued by the new owners.

http://www.rangers.co.uk/staticFiles/4d/76/0,,5~161357,00.pdf

It looks like the huns have got out of jail, but the tax case is still a problem.

truehibernian
07-06-2011, 09:06 AM
More developments on this. It looks like Whyte will write off the debt unless Rangers lose the tax case - if that happens he becomes a secured creditor in the event of administration. Seems quite reasonable really and generally in favour of the club rather than the buyer, although it depends whether the caveat is to protect his money or set the basis for a phoenix company. Given the general drift of the agreement I would be inclined to go for the latter.

http://sport.scotsman.com/football/Craig-Whyte-group-confirms-its.6780877.jp?articlepage=1

Here's the communication issued by the new owners.

http://www.rangers.co.uk/staticFiles/4d/76/0,,5~161357,00.pdf

It looks like the huns have got out of jail, but the tax case is still a problem.

So CG, does this however not mean that whilst the tax case is being investigated they will curb spending and/or shy away from major team investment in the short term ? To me it seems like a 'wait and see' manouevre by Whyte......like dangling a wee carrot to the fans, only for it to be munched by the HMRC rabbit down the line :greengrin

Kaiser1962
07-06-2011, 09:16 AM
Given that the Huns have posted losses of over £90m in the last ten years or so it would seem that fundamental changes are required in how the club operates. Its pointless "waiving" the debt if they continue to trade as before.

It would seem prudent for them to prepare for the worst and sensible to take steps to protect what they have.



More developments on this. It looks like Whyte will write off the debt unless Rangers lose the tax case - if that happens he becomes a secured creditor in the event of administration. Seems quite reasonable really and generally in favour of the club rather than the buyer, although it depends whether the caveat is to protect his money or set the basis for a phoenix company. Given the general drift of the agreement I would be inclined to go for the latter.

http://sport.scotsman.com/football/Craig-Whyte-group-confirms-its.6780877.jp?articlepage=1

Here's the communication issued by the new owners.

http://www.rangers.co.uk/staticFiles/4d/76/0,,5~161357,00.pdf

It looks like the huns have got out of jail, but the tax case is still a problem.

Caversham Green
07-06-2011, 09:18 AM
So CG, does this however not mean that whilst the tax case is being investigated they will curb spending and/or shy away from major team investment in the short term ? To me it seems like a 'wait and see' manouevre by Whyte......like dangling a wee carrot to the fans, only for it to be munched by the HMRC rabbit down the line :greengrin

It does, but there's a 90 day expiry on it all, which suggests they expect the case to be resolved one way or the other in that time. Certainly it's a wait and see measure (I can't spell manoeuvre either :wink:) and all bets are off if they lose, but I think it's the best they could reasonably hope for given that he bought them in the first place.



if the Club has not suffered an insolvency event within 90 days of the Club's appeal in relation

to the tax claim brought against the Club by HM Revenue & Customs (the "Tax Case") being
finally determined, then The Rangers FC Group will either waive the debt that it has acquired
or convert it into equity by way of an issue of new voting ordinary shares in the Club.

Hibernia Na Eir
07-06-2011, 09:19 AM
I'm glad to see the back of Bain. He's always been a dismal apologist for the nasty element in the Rangers support.

Always wanted to know how an ex-Armani male model can end up be on a football board of directors. Bizarre !

Phil D. Rolls
07-06-2011, 09:28 AM
http://t3.gstatic.com/images?q=tbn:ANd9GcTk8u-38nbspFKV1HIqQwGDG7ubFNBFZkg3eDPRzZ1-jmEjvxCKqg

Is this him?