The coral Stand is a tangible asset, but I would imagine there are other intangible assets. Such as income from SKY.

The difficulty for anyone loaning money is knowing for sure how much is already secured on the same asset.

Checks can be made, but I assume the reason why lots of clubs get into problems is because they have lots of creditors loans secured against the same assets.

If it is a properly registered charge it will show on the Companies House website - anything from a bank or other finance company would be most likely be formally registered, but you also have the HMRC who don't give much leeway to sports clubs (for some reason?) for overdue taxes - so immediate concerns would be paying the wages, and keeping the tax man happy. I think some time ago good old Ryan confessed to "overlooking" tax payments so OK Bulls Ltd will already be on HMRC's watch list. I really feel for the players and remaining staff - not the way to start the New Year, and wonder how much of the cash from ST sales is left now even before the season has started?

I seem to remember that the Securities company had been sold a pup? Wasn't it reported that RW told them his share represented the capital, whereas in fact he owned 1%?

If RW really did borrow 180K then weher did it go? It wasn't money for running expenses, as i understood it, but to buy OK shares - we seem to be sure RW never paid OK for those shares so does that mean RW still has the money? What then happened to it?

In a hypothetical case, if an employee borrows a six figure sum using his employer's business as a security, and then keeps the money, wouldn't this interest Inspector Knacker? In any case, presumably it would be at least strongly arguable that the transaction was outside the authority of the employee and so was a matter between the lender and the individual?

The Nightmare continues and if it could be possible - gets worse.

New Co must be formed & given special dispensation to play RL out of Odsal/Horsfall/VP in SL.

Clean Slate - Spend 80% of Income only - but will it be done?

At this time of year I would prefer to have a bit of harmless banter about where everyone will finish in the league next season. Would not even dare to speculate on anything related to the Bulls now, but I would speculate that it might not be a good year for a certain RW Esq from what you say above?

Job's knacked basically innit?

I take it we're now beginning to get some leaks from the "make or break" meeting of stakeholders that the Express reported in today's issue.

Forgive me if I'm wrong, but wasn't it reported whitcut took out loans against the company to cover the losses made by the concert? Is it possible these are the loans in question?

Also, didn't ok make whitcut, general manager? Meaning he could of taken out the loans, as if he were chairman, and not tell ok about it?

Are we?

Why is it Whitcut is in every aspect of this sorry tale?

In the beginning - OK & Gerry with his 3 managers, Simon Kenny, Vipin Joshi & Ryan Whitcut.

Then it was just OK & RW

Then OK, RW & Mark Moore

Then RW & Mark Moore

Then RW, MM and the 2 new directors AC & IW

Then the RFL effectively barred RW

Then MM, AC & IW blamed OK & RW

Then OK sued RW & MM as individuals.

Now RW seems to be borrowing money from Securities, using the club as collateral (debenture was reported?)

Theres a fairly obvious common denominator (apart from my using initials, of course...)

I’m still amazed at the size of the c0ck up that’s been made in such a short period of time. It takes a special sort of business acumen to make this much chaos. If we have a professional RL club in Bradford in the future please can it be run by some people with some ability and integrity and not another 10 bob millionaire?

The term "Successful Businessman" seems to be frequently used out of context - to the extent when I now hear the expression I assume it is being used as a euphemism for: hasn't a clue about business. It is also worthwhile differentiating between people who have genuinely managed an operational business with customers and people who got lucky holding assets - in this country normally overvalued property.

I assume at some stage in the near future the RFL will need to know if we can fulfil our fixture obligations so hopefully somewhere people are talking - urgently.

I realize the RFL have stated that their micro-management of clubs have left them short-staffed for other matters but if Whitcut has been a person with 'influence'at the club from the start,why wasn't the fit and proper person test applied then ?
It is stated in their operational rulesrlHERErl

Ah. Whitcut sold Bateman (and according to the other 3 directors statement, without their knowledge or consent) for £90k. That would probably have covered the loss from the concert.

Never mind RW. Safeguard Security owner Marc Green is an interesting character in his own right. I can certainly see how Whitless and Green could come to 'an arrangement'.

I'm open to PMs if anybody wants more.