The Causes of Crime

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I think the claims relate to the same assets but …

Comment on The Causes of Crime by Homunculus.

I think the claims relate to the same assets but for different reasons.

The floating charge claim is basically that there was a preferred creditor who should be paid in spite of the result of any CVA / liquidation. Their debt (the £18m) should be satisfied before any consideration to make a pay-out to any normal creditor. A perfectly reasonable thing to say if you ignore the surrounding circumstances. 

The other part relates to who was entitled to purchase the assets from the administrator /  liquidator, either Sevco 5088 or Sevco Scotland. It definitely started as 5088 (the administrator announced that binding agreement) but it definitely became Sevco Scotland. The “how” is still being argued. In this scenario they were effectively buying from the administrator whatever happened as the deal was set up in such a way that the assets were sold before they ever got into the hands of the liquidator. 

Basically as I understand it one claim deals with who should have bought the assets and the other relates to who should have got the proceeds of that sale.

Think about that for a second. If we assume the floating charge is good (just for the purposes of the argument), and Whyte was behind 5088. With the purchase being made by Green fronting for him. (Remember the alleged conversations “You are Sevco, Craig”)Then 5088 would buy the basket of assets for a seriously low amount, Whyte would get the money paid for them (via his floating charge), minus any administration costs. So he would then have a “debt free club”, and most of the money back he paid for it*. If the SFA SPL had their way it would have been playing in the Premier League (as was). 

Thankfully HMRC didn’t play ball, the charlatans turned against each other and the fans would not let the football authorities go through with such an outrage. 

*You may also recall it was to be done quickly and the administrators costs limited to £500,000. 

Homunculus Also Commented

The Causes of Crime
HMRC is a non-ministerial department, precisely to prevent Politicians interfering in them doing their business.

HM Revenue and Customs (HMRC) is a non-ministerial department.
HMRC was established by the Commissioners for Revenue and Customs Act (CRCA) 2005, which gives the legal powers and responsibilities of the department to Commissioners appointed by the Queen.
HMRC’s status as a non-ministerial department is intended to ensure that the administration of the tax system is fair and impartial.

The Causes of Crime
OCTOBER 23, 2016 at 18:24

Apologies, what were you talking about.

The Causes of Crime
OCTOBER 23, 2016 at 17:29

They may make a few changes but I honestly think that Celtic team should have enough to compete with Ross County, even away from home. Celtic are currently 12 points ahead of them with two games in hand a a goal difference 24 better.

No disrespect to the Ross County support, it’s just my opinion.

Apologies if you were talking about the Rangers St Johnstone game.

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He has a logo already

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Not the humility then.

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You guessed, what gave it away.

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