Of Assets and Liabilities

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Barcabhoy says: Monday, November 5, 2012 at 13:48 Nice to see …

Comment on Of Assets and Liabilities by scottyjimbo.

barcabhoy says:
Monday, November 5, 2012 at 13:48

Nice to see you back posting Barca.

Possible answer to your questions? When someone is investigating you for possible major “naughties”, and is getting closer to the evidence, what do you do? You become outspoken , larger than life, pointing to lesser evils. You distract, or try to distract, away from the important details in the hope your investigators will do similarly. To me, the more he blusters, the closer we are getting to the truth.

scottyjimbo Also Commented

Of Assets and Liabilities
Agrajag says:
Sunday, November 4, 2012 at 18:36

If you had a racket going on turn-up ticket sales, Ie. Let in three but say only count two, you certainly wouldn’t want the authorities to know. If you thought that they might be suspicious, and were going to check, how could you fog the issue. You would simply issue lots of free tickets. When the question was asked, you would answer that the difference in money taken for paying bears, and the actual attendance, were the free tickets. Presumably the turnstiles are computerised. The paying punter being “missed” in the “paying” total will be allocated a seat number. All that needs to be done is ensure a “free” ticket stub replaces the “paid” ticket stub for that seat in the stadium records. Simples. You would effectively hide the switcheroo in a myriad of free tickets.
Not that I am suggesting that such a situation is, or has, occurred at Rangers. This is a purely hypothetical, totally unrealistic scenario.


Of Assets and Liabilities
andy says:
Sunday, November 4, 2012 at 16:20

“ …. 4 – They have agreed a fee of £1.3 million with Loyds for the purchase of the Albion carpark therefore canceling the lease which ran till 2025 at over 300k a year.
____________
doesnt sound right either 13 years at over 300k but sell it for 4 years worth …..”

Sounds like to me he is making sure he owns all of the land around Ibrox. Remember he said a couple of weeks ago that he had just bought Edmiston House from Minty. Now he’s apparently confirmed the car park. We assume(?) he has the stadium. Seems to me he’s making sure of his exit strategy if the share issue bombs. Wimpy Homes anyone?


Of Assets and Liabilities
exiledcelt says:
Sunday, November 4, 2012 at 06:58

Well reminded. You could have also added,

Who received R200m (circa £17.5 million) “income” from Rangers Football Club according to an overseas tax enquiry, years 1990 – 2001? Especially considering this person was just “appointed a director of Rangers Football Club in March 2000 (Wikipedia)” . All undoubtedly legal and above board.

http://www.bdlive.co.za/articles/2008/11/11/king-s-tax-assessment-valid—sars

http://scotslawthoughts.wordpress.com/2012/07/06/dave-king-and-rangers-ebts-and-sars-guest-post-by-jim/


Recent Comments by scottyjimbo

The SPFL— the case for revolution, evolution and a case of the Hamilton Whackies !
pilgrim1888 says:
July 4, 2013 at 9:28 pm

” ……. Does Mr Doncaster not realise how foolish he sounds when he talks about openness and transparency and yet refuses to disclose these figures. ……”

Mr Doncaster only, allegedly, follows the wishes of his members. He is not refusing to disclose the figures, It is the member clubs that are telling him not to do so. Why are they keeping stum on tv deals and especially the 5-way agreement? Because they must have something toxic to hide. The question we should be asking, is, “Are the clubs up to their collective necks in this conspiracy as well?”


The SPFL— the case for revolution, evolution and a case of the Hamilton Whackies !
Castofthousands says:
July 4, 2013 at 3:44 pm

Is it maybe simply CW looking around for a compliant administrator. Draw up a list of potentials, quietly ask them what they think of a hypothetical situation, then suggest that this is what they would like to see. Cross off the list the ones that don’t give you the “right” answers.


The Existence of Laws
Noticing some TSFM like digging on RM lately. Some posters do appear to have their head out of the sand and are willing to put it above the parapet. Regarding Charlie’s proposed share sell to Laxey.

Recent RM post on Laxey possibly indicating trouble ahead.

” ….. Another outfit that stirs up trouble in the hope of making a profit is Laxey Partners. Headed by Colin Kingsnorth, Laxey has a succession of victims on its belt, including British Land, where it tried to unseat the property giant’s then head, Sir John Ritblat. Laxey’s ownership can be traced to the Isle of Man but the firm works out of a small office in Jermyn Street. The object of its latest assault is Hirco, the AIM-listed Indian property developer. Hirco is run by the wealthy Hiranandani family.

Laxey holds 10.05% of Hirco and QVT, a fund with which it is closely linked, also has 4.95%. Kingsnorth has called for an emergency shareholders’ meeting to change the seven-strong board. He is demanding that Niranjan Hiranandani, the chairman and father of Priya Hiranandani, the chief executive, resigns and that four “independent” directors are appointed.

It’s not clear what his game plan is but it would come as no surprise if Kingsnorth was pressing for the quick sale of Hirco properties.
He’s argued against what he perceives as the lack of transparency and governance within Hirco. However, of the four new “independents”, one is Andrew Pegge, his Laxey co-founder, another is Michael Haxby, a Laxey executive. A third, Aled Rhys-Jones, runs Celtic Asset Management. Celtic’s chief financial officer, Christopher Bruce, was Laxey’s CFO between 2001 and 2007.

In Switzerland, Laxey is embroiled in a row about secret stakebuilding in Implenia, the country’s biggest building services group. Between late 2006 and 2007, Laxey used different banks to “warehouse” contracts for difference in Implenia. Under Swiss law, holdings in derivatives are subject to the same rules of disclosure as normal shares. Laxey, which denies any transgression, could face criminal prosecution.
Hirco does not need lectures from Laxey. And if we’re serious about the City learning lessons and moving forward, we should take a long, hard look at Laxey and its fellow activists. …..”

http://www.standard.co.uk/business/troublemaking-investors-have-left-us-all-in-a-mess-6872819.html

Seems like a good business fit for TRFC.


The Existence of Laws
Danish Pastry says:
Monday, June 3, 2013 at 07:12
Carfins Finest. (@edunne58) says:
Monday, June 3, 2013 at 06:37

I was perusing Richard Wilson’s article lately and one paragraph stood out,
“The share price has doggedly held at around 55p, and potential buyers have been watching with interest. The balance being struck is between waiting for the share price to fall to a value closer to Rangers’ true worth – around 40p – and waiting for the financial reality within the club to bite. Former director Dave King is monitoring events …………. “

With some of the share lock-ins shortly to be released, many on here expect volume selling with subsequent share price falls. I have no idea as I have no stock market experience.
The original investors, according to Charlie, have already been paid back, so they won’t lose anything. The privileged people on “1p” shares will make a good profit at whatever price they go to. So the only people shafted are the ones that paid 70p. I.e. The bears and some irrational institutional investors.

In real life what we seem to be getting closer to is the doomsday scenario, for the SFA at least, of TRFC going to the wall again. Several posters have commented how obvious this is, with no attempt to prevent it happening. In fact it is so obvious, is it planned? Is it being manipulated to be so bad? So, it will be Armageddon once more for Scottish football. The cries of woe will be heard rising once more. We can’t survive. What will we do? Someone has to take over for the good of us all, now!

Then out of the blue the saviour, Dave King, (or will it be King Dave?) ride’s to the rescue, the MSM lauded hero of the hour, flush with his recently bought “cheapo shares”. Fit and proper person? Of course he is. He’s saving Scottish Football from Armageddon. Without him we’re doomed. Cue “roll over of SFA” to placate the howling masses orchestrated by the MSM.

Of course this is just another wild speculation based on financial ignorance with no solid information, just rumour. In the tangled web of the TRFC story it’s just as good as any of the other ones.


The Existence of Laws
barcabhoy says:
Wednesday, May 29, 2013 at 10:32

With today’s general reluctance for some people to pay their bills, perhaps a “no win, no fee” deal is perhaps the safer way for lawyers to proceed if they want paid. I am quite sure Mr Whyte, though, would settle any bills in a timely manner.

As the adverts usually say “We claim our costs from the other side”. That has to be safe, shirley?


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