Paul McConville - hun share issue

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http://kumb.com/forum/viewtopic.php?f=2&t=138488&st=0&sk=t&sd=a&start=1340

Although there was a court hearing and the resulting judgement that said under Scottish law the Ticketus agreement could be deemed invalid, this is no longer the case as the agreement was willingly transferred from old Rangers to Sevco 5088 Ltd, an English company who had bought all the old Rangers assets. So now the agreement is between 2 English companies where it is valid. Sevco 5088 Ltd then transferred some of the assets (but not the Ticketus agreement) to Sevco Scotland Ltd (a Scottish company) who are the new Rangers. There has to be a Scottish company as license holders to play in Scotland - but they now owe Sevco 5088 Ltd for the Ticketus money. That's why Rangers were briefly known as Sevco 5088 Ltd rather than the sale being directly to Sevco Scotland Ltd.

The 'threat' of the court case (because it won't happen and they're now saying that it won't come to court before next year - long after any public share offering!) is to give the impression that Ticketus are no longer involved and that they are owed their money by that nasty Craig Whyte. This appeases Rangers fans on both counts - that their season ticket money or the money they buy shares with, won't be going to Ticketus and that Craig Whyte gets stuffed!



I don't know if that Wembley poster has any evidence but his posts make a bit of sense regarding what could be going on.
 
eric cartman said:
I don't know if that Wembley poster has any evidence but his posts make a bit of sense regarding what could be going on.
Click to expand...

I think he's got it right, especially seeing the desperation of Green lately trying to find ways of getting money in quick. Has Green ever outlined what his business plan is apart from all this 'puff' he's been spouting?

This share issue is one of the weirdest I've seen in a long while, I cannot see why anyone would risk their money on it but also I can't see those that give their money away to it seeking financial advice on it and Green knows that. He's primed them quite well and unfortunately it looks like people are going to lose more money.

Part of me feels a bit of empathy towards 'them' but a bigger part of me is past caring about their stupidity. (I suppose the empathy is going more to those fans who support them as a football club and not because of that myth of what they're supposed to stand for)

For the most part they seem a level headed intelligent bunch on that West Ham forum, they've had their own financial problems but I can't remember them blaming it on everyone else.
 
The one question regarding ticketus though is

If the debt was passed on why did duff and phelps go to court to get the deal terminated?
 
The courts failed to outline a way Rangers could get out of the deal.

That was in March. Rangers went into liquidation in June. They were still pretending they could achieve the CVA in march. Maybe it was a spot of grandstanding. Maybe they thought they were going to save Rangers.....Even though it was bloody obvious they wouldn't.
 
THis post from the West Ham site:

"I DID feel some sympathy for the fans, and I guess I still do for the most part, but very little for some of the bells on that thread. As DaveWHU1964 above said, they're shrugging it off by saying we're Tims or that we're jealous because we're a small club. Deeply arrogant. How DARE we take an interest in one of the Summer's more controversial football stories - or ANY football-related story, for that matter - if it's not related specifically to our club? We should be knuckle-dragging single-subject ****wits, shouldn't we? Right.

We support West Ham, a club that has been skating on the edge of financial oblivion for some time now. Things are better since G+S showed up but we're far from out of the woods yet. OF COURSE we've got a morbid curiosity or interest - or, yes, Rangers fans, sympathy - for teams suffering in a likewise/worse fashion. But no, it's because a) the All-New SevCo Rangers are just That Damn Gorgeous that we can't resist chatting about them, and b) we're all a bunch of Celtic fans in disguise anyway, and the whole thing's a 24-style conspiracy*. Absolutely demented. And I thought ManU fans were full of themselves."

Sound familiar? <laugh>
 
I was looking at it from the angle of duff and phelps. If they went to court to have the deal terminated then passed the debt on in the sale. Then they have wasted the creditors money in legal fees.

Its the only thing I have been interested in, in this whole saga. Why would ticketus give whyte 25m to buy a club on the brink of liquidation.
 
https://www.indymediascotland.org/node/27259

This source of this discontent is the period where Charles Green acted as the chief executive of the Sheffield club. The story began in 1995 when Green was part of the Manchester based &#8216;Texas Group&#8217; who bought a 60% share in Sheffield United from Reg Brearley.[iii] Green became the Sheffield United chief executive and in 1996 the club was subject to a takeover from Manchester based leisure group Conrad.[iv]

Following the resulting takeover Green became the chief executive of the newly formed Sheffield United PLC who became the 6th football club in Britain to join the stock market.[v] [vi] Green was keen to stress that Sheffield United were a club on the up, he said:

&#8216;We've got a very solid business here with perhaps the best land bank in British football -- if we exclude Chelsea (Village PLC) and take out the London values. We've got a club with massive upside in all its revenue streams and we see there is enormous growth&#8217;.[vii]

However this optimism was short lived; Green was faced by criticism from fans early on when a group of Sheffield United fans called on the Department of Trade and Industry to investigate the stock market floatation of the club. The group led by Barrie Cottingham, then chief executive of SIG Insulation argued that &#8216;documents sent to United's shareholders at the time of the float were inaccurate and misled some shareholders as to the value of their shares&#8217;[viii], according to reports at the time it was clear that Sheffield United and Green in no way accepted the claim that the documents were incorrect.[ix]
 
After Rangers cheated all the SPL clubs for twelve years, surely it would be ironic, but fair if all Spl clubs issued forms to all
their spectators application forms for Sevco share Prospectus. This could be another way of wasting Sevco's money at £3.00
an application.
 
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