
CELTIC1CALEY3
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Admin by Oct 16th - It's here now!
CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
By definition we have not seen the terms of the 'legal' document Morrison (and presumably Cameron) signed to take over Caledonian Properties, but the big hurdle for them to redevelop the land is Highland Council. In due course we may discover why the £1.5m Loch Ness car parking deal collapsed. We know Cameron and Morrison took control of Caledonian Properties on 23 August 2023 as George Fraser and Cesidio Martin Di Ciacca resigned. Tulloch Longman Limited thus relinquished control on 24th August 2023. On the 24th August 2023 Caledonian Properties registered office changed to the Stadium address. That address changed again on 22nd October 2024 to 56 Torridon Road Broughty Ferry the day the football club went into administration. We eventually discovered that David Cameron resigned as a Director of the football club on 5 March 2022. On the face of it, Ross Morrison was therefore the only person able to act on behalf of the football club in negotiations with Tulloch Longman Limited. Presumably he had the full authority of the Board in any negotiations given that the Club allowed their premises to become the registered office. As Chairman of the football club and also taking a significant controlling interest in Caledonian Properties Limited will be documented in the minutes of the football club. David Cameron as at 5 March 2022 was a private individual and therefore unlike Morrison not able to represent the football club unless there is documented authorisation of course. His resignation as a Director of the football club was not visible in the public domain until 6th July 2024 when Companies House published that fact. Morrison resigned as a Director of the football club on 30th May 2024. -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
It would be prudent at this stage to be cautious. I would imagine the creditors who are listed as being owed the larger sums will have their claims rigorously checked. It is possible that due diligence will show maybe a lack of competence in their attempts to create a legal right to full or any settlement. It would be quite remarkable (but Karma) if they managed to bodge that up. -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
That was Scot Gardiner's dog when he heard we were playing Raith Rovers. -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
We can see quite clearly why Alan Savage had no choice but to opt for administration as the mess created by those running the club became much clearer to him. -
Let's hope we do not see another MOM award this season even if we do well. As for Colin Steven...booed off at Half Time not just because of Robbie's sending off but for other odd or weak decisions such as Taylors body check on our player close to the referee. Booing did not help because in the second half he allowed Arbroath to dive, wrestle, trip or time waste without any remorse. I have sympathy with referees because it is a thankless difficult task. But I also have sympathy with Managers who are punished if they make legitimate points to officials. Arbroath were not the better team but were grateful for the benefits given to them in advance of Xmas by Colin Steven. However, that is history now.
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We actually want Dumbarton to bite our heels so that it adds a bit more to our desire to win games. Sooner or later 'he will score when he wants' and Saturday at Montrose is when he will start scoring again.
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Savage's injury did not look severe but as everyone knows, some straightforward injuries can mean some time out.
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Stupid of someone to set off a flare at kick off. We did play very well but failure to benefit from some good chances meant Cove gaining confidence in the final 5 minutes of actual time. For Cove's penalty the highlights do actually seem to show Danny turning his back on the shot that seems to slam into his hand. A penalty would not have been given if Josh Meekings had been in a similar situation. Longstaff was booked after four Cove players took it in turns to kick him. When their Captain being the fourth to attempt it buckled up the ref decided Longstaff's jump to avoid damage caused the injury to Boyle.
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
Chris is quite speculative in saying that. Hamilton have certainly had some problems this season and that is in the public domain. Dunfermline seem to be between a rock and hard place - again in the public domain. -
There is a lot in the last 5 years that we have yet to discover. However, without pinning blame lets start with the concerts. Anyone competent would have carried out a detailed risk analysis of the proposal and put in place sound arrangements if it was likely to have been a financial success like the Rod Stewart concert. With regard to Director loans, a competent person would point out risks involved both to the Club or Company but ensure the elasticity of such proposals did not stretch too far. The reason why the car parking deal that collapsed is not known so was this negligence, a contract that was still open to due diligence or maybe given too much credence? Recruiting Duncan Ferguson and Bolan was a disaster of monumental proportions. I am convinced a motivator of players could have achieved far more last season and not squandered the Cup Final golden egg monies. It does seem odd that there was over ordering of fan kit given known annual sales figures. With regard to the battery farm proposal. Competent people would have again carried out a detailed risk appraisal and spent some time with Council planning officials to satisfy themselves that the planning application had a high chance of success. Wealthy Directors failed to show compassion and decency to significant players. That has to be the seen as quite appalling treatment of fellow decent human beings. Writing off an £80k payment from Carlisle when finances were stretched was foolish!! Over 30 years there have been rocky spells and poor judgements but realistically it has been over the last 5 years (with COVID impacting thinking too on financial prudence) that the lack of competence has been seen. So to answer the question - only appoint competent professional people to run a company. In effect those giving financial, company secretarial or legal advice. We do not appear to have done that, especially in the last 5 years.
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
As a reminder, these were the Club's assets as declared on the accounts to 30 May 2023 Fixed assets £2,043,272 being mainly the stands and stadium and some plant and equipment Investments £1 being the Battery Farm project I assume - described as group interests Current assets - Stocks, debtors and cash £1,093,349 Ross Morrison can certainly be offered some of the stock (anyone for a shirt?) but we know there is no real debtors money or cash left. Having a second hand lawn mover could be useful if he has a large lawn. I have a view on the stands and stadium which is not necessarily shared by others. We can only speculate what are Ross's revised rights and options as a creditor. Does he have the Club over a barrel or are the Administrators in a stronger position? -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
Given that the Football Company really now has just a £1 or 1% share in the Battery Company it remains unclear what benefits would have accrued if it had succeeded. The moral of the story is that you use someone competent to assess the viability of a project before shouting from the rooftops. Where does this leave Ross Morrison? -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
Under the Companies Act 2006 members of a company are those who subscribe to its memorandum (with their membership commencing upon the company's registration) and those who agree to become members of a company and are registered as such in the register of members (section 112, Companies Act 2006). Liability is restricted to the share purchase price or current value. (Limited liability companies) Creditors are individuals or entities that have lent or are owed money to an individual or company. Different animals if I recall correctly. -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
One of the unknown variables is where Chairpersons, Directors and others have paid bills behind the scenes which have not transparently been shown in official figures. -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
For those with a keen interest in Common Good land and properties here is a very useful link https://www.landcommission.gov.scot/downloads/6038f965432bb_Common Good Land_web 24.2.21.pdf -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
The 99 year lease has strict conditions attached to it because of the use of Common Good land. Those of us who have worked on such projects know that. Common Good is not defined scientifically so is open to some interpretation and the Council could have been much stricter at the outset. The battery farm application was somewhat different - although as you say it too involves land use although not Common Good land. The decision was taken based on Planning Law by a Highland wide Committee. It was the manner of decision making that seems to have caused angst i.e. agree and then reverse. The Appeal questions the logic, not the right of the Council to change its mind which we all support if there are very good reasons for doing so. The football officials who helped negotiate the 99 year lease approached the Council in a more conciliatory way than those who handled the battery farm application. I think hypocrisy is quite a strong word to use. -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
I would hope Inverness Area Committee Members will soon give comfort to some supporters that there are very strict conditions attached to the 99 year lease granted for football purposes. -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
20 clearly better than 0! However, clearing the decks is the critical aspect of the administration process that will result is what we hope are some genuine decent bids. Sounds good, I am optimistic, but nothing is easy in life. -
Kelty TV Highlights - a classic example of editing out key moments in the second half that would have raised refereeing questions!!
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One day we will see history made when a referee books a goal keeper for feigning injury when they make a hash of a save and the ball ends up in the net. Fair play for Kells not going down the 'blame the referee route'. Agreed that yesterday was a great game to watch. We have to be patient because the signs are good.
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Hopefully Saturday evening Tidser is able to claim his team did not turn up.... Join us on the road as we head to the Californian Stadium for our next SPFL William Hill League One clash.
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
Charlie should be back this weekend with Danny so let's look forward. -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
I am working on the assumption that Alan Savage knows what he is doing. I cannot envisage a situation other than where Morrison has the company over a barrel where he can benefit from asset control. We do not know what was in Pandora's Box but we can probably accept that Morrison's position now is weaker. If Morrison sought to collapse the company I am sure Councillors would want to bring the land back into CG control where the Council could benefit residents. -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
Charlie, in some ways this is worthless to Morrison because the Inverness Councillors are strict on the use, or re-use of common good assets. If you recall, there was some concern back in the 1990's from Councillors then about providing common good land for the new football club. Arthur McCourt was the Club's saviour. However, the lease has fairly strict terms attached to it. -
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CELTIC1CALEY3 replied to Charles Bannerman's topic in Caley Thistle
Here is a reminder about the land used by the Company and possibly explains why Alan made reference to the Council helping in the survival bid. https://ictfc.com/significant-milestone-for-ictfc-as-tulloch-agrees-transfer-of-stadium-lease/