Campbellsmoney says: February 25, 2014 at 7 51 Loan. Security. Arrestment. Coincidence? ——————————————————————————————————————————- NO! – The Scottish Football Monitor

Campbellsmoney says: February 25, 2014 at 7 51 Loan. Security. Arrestment. Coincidence? ——————————————————————————————————————————- NO! …

Comment on Podcast Episode 1 by 100BJD.

Campbellsmoney says:

February 25, 2014 at 7 51

Loan. Security. Arrestment. Coincidence?

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NO! Just taking more assets into the lifeboats before the ship sinks. I must say I do not understand why the Rangers fans appear to think that Wallace is a trusted top man. They should ask who appointed him…..mmmmmm…well it might just have been The Laxeys……..who were introduced, complete with a non dilution share agreement (therefore it had to be personal as opposed to public) by …yes Charliebhoy. Equally on the professional side Wallace presided over the biggest loss in Premier League history and needed a 120 day review of what is a small and fairly simple business when most turnround professionals need 7-10 days. Not a blinding CV and out of work since City. A dupe at best I think!
To say that the loan is part of a plan is risible and then to justify the terms is embarassing. Equally interesting is that the loans were secured on post IPO purchased property which my cynical mind says are of good title as opposed to the rest of the property assets which has the odour of Sevco 5088!

Cambellsmoney………………….what an excellent and informed poster

100BJD Also Commented

Podcast Episode 1
Bryce Curdy says:

February 21, 2014 at 5:14 pm

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100BJD 2:06 pm – that’s pretty much the scenario described in huge detail on CQN a few months ago.

I have never been on CQN Bryce although I think there are a few people having similar thoughts…..as ever we will see


Podcast Episode 1
I have been extremely busy so not doing much more than speed reading although I have some time today to reflect on things at Ibrox. My last post some months ago centred around a few issues which are still unresolved-:
Craigiebhoy controlled the admin process to a large extent because his shares were vital to the original CVA. I wrote at the time that he would have covered both bases in assigning his shares to the Chico camp. Therefore his deal, whatever it was, worked in an unlikely CVA or liquidation. He was royally shafted by the advent of Sevco Scotland. The novation of the asset of 5088 namely the sole rights of the deal document has yet to be explained. Undoubtedly the Duffers had to see a proper novation or they legally could not sanction the deal. Therefore they saw something presumably signed by Chico. The big issue here is the potential “ultra vires” nature of the transaction.This is presumably why Craigie and Earley were claiming to be directors so that they could claim they did not agree with the transaction and therefore the deal was fraudulent. I equally assume that other interested third parties such as potential lenders will be having the same issue which may explain why there appears to be a problem obtaining funds.

I also in my last post decided, without enough information obviously, that a second administration would be neccessary. I cited at the time that the cost of reconstructing the business was simply too expensive for them. Add to the mix the raft of spiv related contracts that are absolutey certain to be there and in my opinion you need to press the reset button and do what the Duffers should have done on their watch. I also thought that the extra £2.5m loan mentioned in the accounts could have been used to create an enforceable debt and allow the debtholder to create a winding up order and appoint and attempt to control and administrator in a prepack operation.
Events have overtaken me here as apparently the £2.5m has been used up although the new alleged loan could still fall into the same category. The debt may also be an attempt to reach the 75% creditor agreement position to secure a new CVA.

I also detailed my views on Laxey and they have not changed much either. Laxey and Easdale will not want Kings money as King will want a new share issue which will dilute them hugely. They are also running out of cash and in any ensuing administration the importance of cash is crucial because without cash the administration will not last long and Rangers will be gone…again. Laxeys are never going to trade out their position on the stock price so they will probably have some low options on the original 1p investors shares, held as irrevocables, and not notifiable until transacted, in Daniel Stewarts safe which will mean that they can bump the subsidiary and have a major share in the top company. I presume their unlikely bedfellows the Easedales will get a piece of this action and provide a safe pair of hands for the new Ibrox lease. Murray Park is the jewel in the crown for these boys in my opinion, no matter what planning conditions exist. They will have done their homework. They are no fools! So for me still admin2, Ibrox leased to the Easedales ( who will be spun by Jack as saviours), Murray Park offski and a team/ club with a very poor balance sheet……….not good and I fear the fans will not continue their support in this scenario.

And then they Laxeys etc will wait a bit and do a public/private transaction to complete their hand.


Recent Comments by 100BJD

Whose assets are they anyway?
Extremely busy these days so only a bit of lurker although I see that my “smoking gun” theory about the novation or aasignment of the exclusive position inter alia Sevco Scotland and Sevco 5088 will be tested in court. All very interesing although really bad for the club I fear.
 
I thought you might like to hear about another of Charles Green’s companies! He is making a bit of a habit of this-:
 
http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0CCQQqQIwAWoVChMIsb657JaDyQIVQSEPCh2OEwuB&url=http%3A%2F%2Fwww.independent.co.uk%2Fnews%2Fpeople%2Fformer-arsenal-and-manchester-united-stars-face-ruin-over-millions-in-unpaid-tax-a6725926.html&usg=AFQjCNHh47jDjaA6LAwWmiTypTUWOefT5g&bvm=bv.106923889,d.ZWU


Did Stewart Regan Ken Then Wit We Ken Noo?
alzipratu says:

March 13, 2015 at 2:11 pm

100BJD says:
March 13, 2015 at 1:11 pm
*****
Unless, of course, King was involved from the start too as stated by Corsica.

I have not seen Corsica’s point…..although Yes he may be correct


Did Stewart Regan Ken Then Wit We Ken Noo?
easyJambo says:

March 12, 2015 at 5:25 pm

tykebhoy says: March 12, 2015 at 4:36 pm

scapaflow says: March 12, 2015 at 4:47 pm
=========================
Looking at Allenby Capital now, it looks like everything is above board, but it has had a chequered past, re its involvement with Imran Ahmad and a previous name of HB Corporate Ltd. HB being Hoodless Brennan which no doubt will be familiar names to ecobhoy and others.

Imran Ahmad of Rangers – The Portfolio of His Former Co, Allenby Capital, by 100bjd
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Too busy to be other than a part timer these days. You really could not make it all up. Chris Graham..an amazing appointment…Mike Ashley the major creditor’s people getting humped…no finance in place…an unworkable business plan and by the way if you read my very old article you will be very clear that John Brennan and our old friend Imran are business associates. John Brennan has a number of companies using the BEAUFORT name. I seem to remember that a similar named company had the proxies for Blue Pitch etc which is certaily a coincidence. If true of course it means that Imran has never left the game. Charliebhoy was the sales man and Imran was the brains. He will have organised the onerous agreements and he will have colluded with Charliebhoy on the racist exit strategy. Fair play to them it worked as they all got paid out big time. Now King is thinking of using them as a nomad……….well I cannot believe it.

Back to work!


Did Stewart Regan Ken Then Wit We Ken Noo?
scapaflow says:

March 10, 2015 at 12:45 pm

Paul says:
March 10, 2015 at 12:40 pm

I would think that declaring war on your biggest creditor, who has security over many of your assets, and control of key income streams, is a novel, if not unique strategy.

If one were conspiracy minded, one might believe that the intention was to provoke an insolvency event, without the appearance of being responsible. :mrgreen:

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That cannot be the strategy as Ashley is the biggest creditor and he,therefore can “control” any insolvency process. I can only think that King and co are going to tackle the onerous contracts as being unfair or ultra vires in some way. King and co also need some advice on the Sevco 5088 non novation to Sevco Scotland scenario.


Spot the difference?
Check Tom Winnifrith out on Earley…Whyte etc

http://www.shareprophets.com/views/10738/the-worthington-fraud-part-15-this-is-the-killer-email

Subscribe for a detailed look at Worthington in action. Unbelievable!


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