FRAUD BY GOD!
Traynor is again suggesting that Craig Whyte acted criminally with his Ticketus deal. In reality it is a grey area: can future sales be considered as assets, especially when it was a loan he took out to be paid back from these future sales? One for the lawyers and certainly not one for Traynor, who blames both Whyte and HMRC for creditors losing out.
He is good at pointing to company law to blacken Whyte but fails dismally to mention the real scandal in all these shenanigans: the sale of the assets on the cheap by Duff and Phelps to Green. Quite apart from the immorality of this procedure it is, most likely, illegal:
"under the Insolvency Act 1986 section 423, a company may recover assets if they were paid away at a "significantly less than the value" of the thing, and this was done "for the purpose of" prejudicing other creditors' interests."
It could be argued that Duff and Phelps's bargain-basement sale was not done for the purpose of prejudicing other creditors' interests; but can they prove that? Why, exactly, did the sale go ahead if not for this purpose?
Thousands of small creditors have lost out due to this underhand deal and it remains to be seen if BDO will challenge this sale.
What is certain is that the agnivores in our media will never challenge this sale as it goes against their 'doublethink' agenda that says that Rangers still exists as the same entity but under a different company.
This sale of assets was fraud, pure and simple, and it will be an absolute disgrace if it goes unchallenged while Green boasts about being 'debt-free.'
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| "I am not a crook!" |
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