The Case for a New SFA.

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Allyjambo 14th October 2015 at 1:43 pm Agreed. How can they possibly …

Comment on The Case for a New SFA. by Homunculus.

Allyjambo 14th October 2015 at 1:43 pm

Agreed.

How can they possibly seek external funding with this (amongst many other things) hanging over them.

I have a PLC, which may not own any of it’s assets, which is around £8m in debt, making losses on a monthly basis, does not have access to the bulk of one of it’s main revenue streams and potentially will need to pay legal fees in the millions, oh and have nothing I can provide by way of security.

I should probably mention that if things don’t go the way they want the customers will leave in their droves and probably threaten you into the bargain.

Any chance of lending me some money, or even better buying a bit of the business.

Worst sales pitch ever.

Homunculus Also Commented

The Case for a New SFA.
Apologies.

I took the view last night that limiting discussion to what had been reported in the newspapers would be within acceptable parameters. However as I am not the person at risk in this then that was not my decision to make. I fully understand and appreciate that others have to protect their own position.

Sorry for any inconvenience this has caused. 

No worries H. Thanks for your understanding.
BP


The Case for a New SFA.
Danish Pastry 16th October 2015 at 11:06 pm

Great read DP, thanks for posting the link, it really does paint the picture of what happened.

Assuming it’s accurate of course. 


The Case for a New SFA.
Given the five names involved, three we know were involved in the takeover. This is public knowledge and has been well reported.

Two were the joint administrators, this is a matter of public record and authorised by the Court. They claimed not to be conflicted as they had taken no part in the takeover.

However according to the report 

It is alleged that they conspired to “acquire and obtain by fraud a majority and controlling stake in the shareholding of Rangers.”

So all five were allegedly involved, some time in 2010, to fraudulently acquire the business. Without getting involved in too much conjecture, I find it very interesting that the joint administrators have been charged with being involved before the initial transaction even took place. Particularly given the role they subsequently filled and the integral part they played in the next chapter.

There is not a lot new today, though I would suggest something like that is. It tends to suggest things may have been less reactive and more proactive.


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