I suggest anyone with any account or interests with RBS close their accounts in protest at the shabby way they have treated our club.

Genius

you need to get a basic understanding of how any bank works. Banks need security for any loan, we sold ours to the RFL, hence no security, we now don't own anything. Its really not that difficult!!!

. . .which makes you wonder about your Boards business acumen?

Surely they knew as soon as they sold the clubs major asset (to the RFL) the domino effect would kick-in!

RBS 80% owned by the tax payer, force Bulls into financial Hell and pay themselves big bonus’s

Priceless

Exactly right Paul T. At the forum to explain the sale of the lease, we were told this deal secured our future. So either someone was lying, or totally inept, incompetent, call it what you will for not thinking it through. Now the same people want to commit us to throwing more money at them. And thats the problem, a)nobody believes a word they say and b) nobody trusts their business acumen.

They were offered other securities by the shareholders but decided to close the overdraft anyway. I wasn't party to that conversation but having come across RBS business banking in the past I'd already moved my current account.

It's a good job the tax payer was a bit more flexible when they messed things up.

RBS are protecting their losses to the taxpayer in all this. With no security the overdraft can't be guarenteed, any bank would have done the same. Its your board of directors that you should boycott, its their fault, nobody elses.

It's never their fault - they adopted the Scouse position when it comes to blame a long time back.

Sadly, plenty continue to fall for it.

Point taken but RBS seem to be behind alot of high street chains having the rug pulled from under them and they seem to be taking a much more agressive stance than others who seem willing to cut more slack.

I disagree.

I think that RBS may have gotten wind of Bulls possible problems. I think that they would have been the predator that the RFL mentioned.

The sale of the lease protected the future of rugby at Odsal, even if it placed the Bulls in jeopardy. If HMRC and RBS had forclosed on us, anything could have happened to the ground.

Be aware: the bank never had a specific security over the stadium. What is called a fixed charge, or mortgage. Had it done so, Bulls would not have been ABLE to assign the head lease. So it's far less simple than it first seems, and I can't but help think that the bank-mindful of the PR disaster Looming - is maybe being somewhat disingenuous in its public statements.

The bank had a long-standing floating charge, secured over all the assets but ranking behind employee claims and other preferential claims, and I rather think additional security from directors.

Given that the Bulls could only generate value from the lease with the express agreement of the council, I would not have thought the lease ranked high in the bank's list of valuable security.

My suspicion is that the bank saw the club receiving a one-off receipt, and saw an opportunity to use that as an excuse for cutting its exposure. I am therefore, on reflection, rather less minded to pillory the club over this than I was initially.

Incidentally, several years ago I was having facility negotiation discussions with a senior RBS Manager. He was a passionate RL fan. He told me RBS had no appetite whatsoever for lending to RL clubs. They were seen as a very bad risk and a sector to get out of.

So it's the fault of RBS that the Bulls lived well beyond their means spending cash it didn't have right up to the last minute - and you're havinh a go at them for never taking the blame jeez.

Yes the Bulls have been mismanaged, but so were all of the banks bailed out at our expense, but they still manage to pay there massive bonuses off the back of the working man. I hope they rot in hell.