Again the precise mechanics of the floating charge, whoever owns …

Comment on Time for Scots Government to Take Bull by the Horns by Smugas.

Again the precise mechanics of the floating charge, whoever owns it now, are dictated by the way the original Ticketus funds were forwarded.  I confess following the trial outcome I’ve completely lost track of how that was done.  

Smugas Also Commented

Time for Scots Government to Take Bull by the Horns

re the indemnities.  Yes that is my take on them as well.  I’d also throw these two thoughts out there.  To be clear they’re based on nothing but natural cynicism!

1/.  The 5WA would have to have been ratified at the various board levels.  I seriously wonder if the indemnity (plural?) were?  Why?  See 2.

2/. The very existence of the indemnities sucked from the beginning.  Why?  Because Charlie agreed to the unquantified footballing fine of LNS.  An old, wily, very experienced liquidation operator like Charles Green, having seen off the Sevco challenge of Whyte and having finally received assurances that his ‘continuation’ IPO sales pitch would be allowed to fly then decided to risk it all by agreeing to a blank cheque to LNS?  Absolutely not a chance!  He needed two things.  The quantum (I doubt he ever realistically intended to pay anyway) and, crucially, the line in the sand that an indemnity  would offer.  

Again I question if the provision of these were ever sanctioned at the appropriate level, hence the indemnity’s appended nature.  

But thats just my opinion.

ps. Goosy.  JJ has an interesting take on Lawell’s elevation this morning.

Time for Scots Government to Take Bull by the Horns
Agreed AJ but I’d add a couple of points.  Whatever it’s legal veracity LNS found Rangers guilty and fined them.  This was, I think, Duncan Fraser’s point that regardless of his surprise at the outcome that you can’t appeal on the basis that you simply don’t like the decision.  Fwiw I have to say I find the words (those that we have) of Rod McKenzie disingenuous at best in this regard.  He appears to have a reason why “we can’t” at every turn.  Has anyone thought to ask the man “if we can” at any point?  I would have thought that should have been his original remit.

Secondly, to me, there has to be a reason why the indemnity leaked by Charlotte and the logical counter one that one assumes exists are separate agreements rather than within the 5WA itself.

Time for Scots Government to Take Bull by the Horns

Correct, or to put it in RTC terms.

To win one (the BTC) by acknowledging the side letters in “proving” their non taxable nature was to lose the other (LNS) in acknowledging they existed at all.  And it is, sorry, should have been, just as inescapable the other way around.  

If, miraculously, they did somehow escape meaningful punishment in both then surely the “guards” had to go for rank incompetence for allowing such a situation to occur?  What was their purpose if it was not to guard against just such a distortion?  For all three elements to ask us to carry on as if nothing has happened is just taking the piss!

Recent Comments by Smugas

Is Regan a DIDDY?
Homunculus @14.09

ah, that corner.  The one Brown celebrates at right angles to after the Dembele goal.  That’s the corner you mean?

sorry folks.  In terms of contribution I’m out.

lurking only for me.

Is Regan a DIDDY?
Re Logan

Can only go by tv highlights. Im assuming he was using the same discretion he employed when not booking Brown for gesturing to the home fans.  But that’s pure speculation on my part.

Is Regan a DIDDY?

having had the misfortune to work with several Dampier ‘types’ in my time I’m also fairly confident that three of the illiterate naked servile “monkeys” were probably deliberately standing in front of a tap with a pipe running down to the shoreline!

Is Regan a DIDDY?
If there’s a positive from the latest Close story at least the season tickets aren’t mentioned.  Not even an average bear’s memory is that short, never mind selective.

re the stadium.  Doubt there’s anything sinister.  All they’ve done is HPd the infrastructural elements within it.

the wifi is an interesting one.  The only reason I can think of (apart from the above in a sale and leaseback of the equipment) would be because they’ve settled the orlit debt and taken ownership.  But then that means a significant chunk of the 3m hasn’t gone into the general overheads pot.  That might explain Phil’s missing £1m

Is Regan a DIDDY?
Had the clubs amalgam had the balls to do what they supposedly propose (Daily Mail) in 2012 I would have had a degree of sympathy.  This proposal has all the hallmarks of the posse finally riding out of town satisfied at a job well done.

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