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Walking Down The Halbeath Road


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3 Mar 2013The

Scottish Mail on Sunday By Andrew Picken

RBS calls in £600,000 loan to ex-boss of bank

THE taxpayer-owned RBS has called in a £600,000 loan to the former boss of a

rival Scottish bank.

A company wholly owned by Gavin Masterton, ex-managing director of the Bank of

Scotland, was allowed the loan after he personally guaranteed around half the

cash.

But bosses at RBS, which posted a £5 billion annual loss last week, have become

irritated with the firm missing repayments and have started moves to try to get

the money back.

It is understood Mr Masterton’s company, Charlestown Holdings Limited (CHL),

also owes money to HMRC over unpaid tax bills and has missed a number of

deadlines.

Mr Masterton’s complex business empire – which includes his ailing football

team Dunfermline Athletic – faces an uncertain future.

The public purse could lose millions as another of his firms has a separate £12

million loan from the state-backed Bank of Scotland.

Also, the future of Dunfermline Athletic – which has struggled to pay wages and

tax bills all season – is in doubt, as it is part of the CHL group.

Over the past few weeks, we have revealed the extraordinarily close ties

between the Fife businessman and his former

employer.

Bank of Scotland wrote off a £4 million loan to a company owned by Mr Masterton

– then sanctioned the £12 million loan to another of his companies that allowed

it to skip repayments for the next 35 years.

A source close to the club said: ‘This RBS loan will be news to many people.

‘It feels like all these complex layers of companies and loans is finally

catching up with Gavin and it looks like bad news for both the taxpayer and

fans the football team.’

Dunfermline Athletic and CHL last week broke Companies House rules by failing

to lodge their latest accounts.

The move came as a £500,000 share issue at the football club faltered.

In a separate development, it has also emerged that CHL owes Stagecoach tycoon

Sir Brian Souter nearly £1 million in a loan due to be repaid next year.

Mr Masterton, who retired from Bank of Scotland in 2001 with a £250,000-a-year

pension, has contacted the Scottish Government for help.

However, Holyrood officials insist they are only providing advice on how to

reduce his team’s electricity bills.

A Scottish Government spokesman said: ‘While we do not intervene between energy

consumers and suppliers, Dunfermline Athletic have asked us for advice on how

to reduce their electricity bills. We are engaging with the club on this

basis.’

Asked about CHL owing money to HMRC, a spokesman for Mr Masterton said: ‘Our

client considers that your inquiries relate to commercial matters which are

confidential to the parties concerned.

‘Accordingly, it is not appropriate for these to be commented on. Our client

respects the right of any party he or his company transacts with to have their

contractual rights and obligations remain private.’

The spokesman failed to respond to a request for a comment on the RBS loan.

A spokesman for RBS also declined to comment.'

Sha c**t whiiiiiiiiiiiiiiit.

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I kinda wanna got to Starks on the 16th and just have a big party. No joke, it could very well be the last Fife derby between us. Scary fucking biscuits.

Dont worry, you will win that one.

:lol:

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That last bit..... " our client....." blah shit blah "..... confidential....." blah shit blah...

Corporate shitbaggery speak for... "Please don't look at what I'm doing, and show me up for being the utter fraud and charlatan I am.

This is just normal business dealings....nothing to see here, now go away peasants."

Knob.

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I hope the SFL & SFA get their act in gear and make sure that Hamilton and Cowden get THEIR money and the DAFC players get paid what they are due before the whole house of cards comes tumbling down.

We should remember that it's not money owed to Cowden and Accies - it's our clubs ticket money that DAFC have taken and retained. A bit like me giving a tenner to CTID and asking him to kindly hand it on to someone else that I bought goods from because he would see them first. It's not CTID's money, never will be, and if he chooses to keep it then it's... well, it's stealing!

As ususal, there will be weeks of provarication and incoherent mumbling from the Scottish football authorities and by the time they get round to making any sort of decision it will be too late and pointless and clubs like Hamilton and Cowden will be left out of pocket. You can be sure that RBS won't hang around getting their hands on some or all of their £600K from the article posted above!

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I hope the SFL & SFA get their act in gear and make sure that Hamilton and Cowden get THEIR money and the DAFC players get paid what they are due before the whole house of cards comes tumbling down.

We should remember that it's not money owed to Cowden and Accies - it's our clubs ticket money that DAFC have taken and retained. A bit like me giving a tenner to CTID and asking him to kindly hand it on to someone else that I bought goods from because he would see them first. It's not CTID's money, never will be, and if he chooses to keep it then it's... well, it's stealing!

As ususal, there will be weeks of provarication and incoherent mumbling from the Scottish football authorities and by the time they get round to making any sort of decision it will be too late and pointless and clubs like Hamilton and Cowden will be left out of pocket. You can be sure that RBS won't hang around getting their hands on some or all of their £600K from the article posted above!

It's a disgraceful way to behave.

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Have to say Jeffries post match comments yesterday are sound. (http://www.dafc.co.uk/articles/20130302/managers-post-partick_2208031_3095384)

"If they don't want to play, don't play. I am not having a go at them, I understand their situation and they can feel sorry for themselves but they are better not playing at all and better letting me play a boy who wants to go out there and give his heart for the Club and the jersey. That's the message I got over to them at half time so there was a response and it was better.

"I have just warned them there again at full time not to ever turn up at this Club and go about the first half like they did again. If they do they will not be here anyway whether they are getting paid or not."

Football is not like a normal job, these guys have a fantastic platform to showcase themselves and to get a better gig elsewhere. These performances need to improve, not for the club but for their careers.

I accept Masterton is a c**t, and the players deserve to be payed the agreed amount on time. But I draw the like at applauding my team off 4-0 down at halftime. Having went to through a similar payment of wages situation recently myself, we didn't have clients/customers showing us any goodwill, it was business as usual. I'm glad the manager has acknowledged and addressed this.

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I hope the SFL & SFA get their act in gear and make sure that Hamilton and Cowden get THEIR money and the DAFC players get paid what they are due before the whole house of cards comes tumbling down.

We should remember that it's not money owed to Cowden and Accies - it's our clubs ticket money that DAFC have taken and retained. A bit like me giving a tenner to CTID and asking him to kindly hand it on to someone else that I bought goods from because he would see them first. It's not CTID's money, never will be, and if he chooses to keep it then it's... well, it's stealing!

As ususal, there will be weeks of provarication and incoherent mumbling from the Scottish football authorities and by the time they get round to making any sort of decision it will be too late and pointless and clubs like Hamilton and Cowden will be left out of pocket. You can be sure that RBS won't hang around getting their hands on some or all of their £600K from the article posted above!

The force is strong in this one.

You must be the last of the Jedi remaining.

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This whole situation hurts like hell. Yesterday's game was such a bizarre, emotional experience. I took my 9 year old laddie along, his enthusiasm for the game grows every week, I watch him going through the programme trying to learn the squad, their positions and even things like not getting why the ball going off the side of the pitch isn't called "offside". Two minutes into the game, he even gave me a row for not watching the game. He's making me proud and yet all I can think is "what am I getting him into?".

I turned to him as the 2nd Half kicked off, he was peering at the pitch through his rolled up programme, I asked "what are you doing?" He said "shooting their players with footballs". I was so grateful for him making me laugh as I'd sat the length of half time holding back tears. I've been the same since.

There is a lack of unity between those that love the club. The set up at the club is so complicated that I fear people are wasting time and energy chasing an overly simple "masterton out" solution. Discussions simply have to begin, this press release chess has to stop. Everyone wants the pars to live on, most of us don't have the knowledge or understanding (or money) to fully grasp what is required to ensure this. Masterton is stuck in a corner, alone with the facts. He needs coaxed out in order for fans to unite and save the club, not kicked further in. Is this possible? I don't know, if not, it's game's a bogie.

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This whole situation hurts like hell. Yesterday's game was such a bizarre, emotional experience. I took my 9 year old laddie along, his enthusiasm for the game grows every week, I watch him going through the programme trying to learn the squad, their positions and even things like not getting why the ball going off the side of the pitch isn't called "offside". Two minutes into the game, he even gave me a row for not watching the game. He's making me proud and yet all I can think is "what am I getting him into?".I turned to him as the 2nd Half kicked off, he was peering at the pitch through his rolled up programme, I asked "what are you doing?" He said "shooting their players with footballs". I was so grateful for him making me laugh as I'd sat the length of half time holding back tears. I've been the same since. There is a lack of unity between those that love the club. The set up at the club is so complicated that I fear people are wasting time and energy chasing an overly simple "masterton out" solution. Discussions simply have to begin, this press release chess has to stop. Everyone wants the pars to live on, most of us don't have the knowledge or understanding (or money) to fully grasp what is required to ensure this. Masterton is stuck in a corner, alone with the facts. He needs coaxed out in order for fans to unite and save the club, not kicked further in. Is this possible? I don't know, if not, it's game's a bogie.

Excellent post pal. Keep the faith.

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This whole situation hurts like hell. Yesterday's game was such a bizarre, emotional experience. I took my 9 year old laddie along, his enthusiasm for the game grows every week, I watch him going through the programme trying to learn the squad, their positions and even things like not getting why the ball going off the side of the pitch isn't called "offside". Two minutes into the game, he even gave me a row for not watching the game. He's making me proud and yet all I can think is "what am I getting him into?". I turned to him as the 2nd Half kicked off, he was peering at the pitch through his rolled up programme, I asked "what are you doing?" He said "shooting their players with footballs". I was so grateful for him making me laugh as I'd sat the length of half time holding back tears. I've been the same since. There is a lack of unity between those that love the club. The set up at the club is so complicated that I fear people are wasting time and energy chasing an overly simple "masterton out" solution. Discussions simply have to begin, this press release chess has to stop. Everyone wants the pars to live on, most of us don't have the knowledge or understanding (or money) to fully grasp what is required to ensure this. Masterton is stuck in a corner, alone with the facts. He needs coaxed out in order for fans to unite and save the club, not kicked further in. Is this possible? I don't know, if not, it's game's a bogie.

Great post mate. It's very depressing to think that by the time I (hopefully) have kids, I might not be able to take the along to EEP to watch the Pars. It's the confusion that makes everything so difficult. With most clubs there is a golden carrot financial figure that the fans can try to aim to raise but we don't even have that.

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....

Masterton is stuck in a corner, alone with the facts. He needs coaxed out in order for fans to unite and save the club, not kicked further in. Is this possible? I don't know, if not, it's game's a bogie.

I'll address this part of your post, because the first part is as poignant as it is heartfelt. Bravo sir.

The guy (refuse to use his name or call him a man) in control at EEP sees nothing of what you see. He doesn't WANT coaxed out....he wants paid out.

His greedy little world is crammed full of loans, multi layered deals, holding companies, sub-holding companies, assets, creditors and balance sheets. All or any of these items could, potentially, a) make him rich b) bankrupt him or, preferably, c) get him arrested and jailed.

As far as he is concerned he has a valuable, saleable asset which he needs to realise maximum profit from. The options are either as a football club, in which case he'll want all his "investment" recouped to walk away, or as a patch of land ripe for development and a nice little bit of business.

To avoid the second scenario, there needs to be immense efforts from business savvy PARS people to get together and work out how best to shove this particular cuckoo out of your nest.

If you want to keep your son's interest in forming a bond with a football club it's not too late to choose somewhere not so terminally ill. It might even prove beneficial to your own sanity. Just stay away from wannabe high flyers owned by business suits.

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Its amazing how long these situations can take to finally reach genuine crisis point. I predicted this was going to happen since Calderwood was installed as manager all those years ago, there have been a few rumblings and near misses in recent years but the end game has arrived

I know a few Pars fans, and they just want to go to the fitba and see their pals and have a blether and hopefully see a decent game, like we all do. Hopefully, whatever is left of the club after this mess is still worth their while gathering round, they deserve better than this. They SHOULD have been asking awkward questions of the people runnig ther club all the same.

Masterton has been a long term shyster and deserves all the flack coming to him. He won't give a f**k though, these kind never do.

Good luck DAFC

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Whats Yorkstons role in this fiasco because its like Masterton getting all the blame did Yorkston nor any of the other directors have any say at board meetings, They must have know what was going for years yet done nothing.

Think "The Simpson's"

Now....think Smithers....

There you go.

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