This is a bullet point and factual post to update people regarding Liberty Corporate Ltd. I don’t come to any conclusion about what it all means, except to say that it makes things even more complicated!
Today an interesting document popped up on Companies House.
You can see it linked here MG01 re Liberty Corporate
It discloses that the Rangers FC Group Ltd has granted a security in the form of a debenture over all of its assets, present and future. The main and indeed probably only assets of Rangers FC Group Ltd are (a) an 85% shareholding in Rangers Football Club PLC (in administration) and (b) rights under a floating charge over Rangers Football Club PLC’s assets in security for whatever debt is owed to Group.
A security is of course only in respect of a debt owed. How therefore is Rangers FC Group Ltd in the position of owing Liberty Corporate Ltd money? Has some interesting transaction taken place, or is there some corporate paper swapping going on?
Liberty Corporate Ltd is listed on Companies House as follows.
Name & Registered Office:
LIBERTY CORPORATE LTD
48 SKYLINES VILLAGE
Company No. 05831290
It is a dormant company, whose only director is Thomas Whyte, believed to be Craig Whyte’s father. The company has issued share capital of £1,000 and is solely owned by Liberty Capital Ltd.
Its most recent accounts are here liberty-corporate-Annual-Accounts
The next set of accounts?
As Companies House tells us:-
Next Accounts Due: 29/02/2012 OVERDUE
Who would have thought that a company linked to Craig Whyte would have overdue accounts!
There have already been two potential windings up of Liberty Corporate too, probably for failure to lodge accounts!
Liberty Corporate Ltd is owned 100% by Liberty Capital Ltd, which is Craig Whyte’s British Virgin Islands company.
So Liberty Capital owns 100% of Rangers FC Group Ltd.
Rangers FC Group has just given security over all its assets to Liberty Corporate.
Liberty Capital owns 100% of Liberty Corporate.
Liberty Corporate also owns 37.72% of Merchant Corporate Recovery PLC (guess what – its accounts are overdue!)
Craig Whyte is a former director and is presently company secretary of Merchant Corporate Recovery PLC.
Duedil.com lists the business address for Liberty Corporate Ltd as :-
Suite 5 2nd Floor Viking House
Lodge Lane Daneholes Roundabout
That address is closely connected to Sherri Ellison, who has been involved with some of Craig Whyte’s companies going back many years.
One of Craig Whyte’s (born in 1969) companies was Strident plc. A director of this was Sherri Ellison.
She is or was also a director in two Craig Whyte 1971 companies – Countryliner Ltd and LM Logistics Ltd.
Sherri Ellison is an accountant trading as Ellison Business Services Ltd.
It is definitely another complication in the already complex corporate structure of Mr Whyte!
CW Corporate Structure with thanks to reader DCR – although every day suggests some new change is needed!
I should add that anything corporate involving Mr Whyte will always have a quirk. Liberty Corporate Ltd is listed as Company Secretary of Tixway UK Ltd (you will recall that is Mr Whyte’s company which lost a court case and where Mr Whyte’s evidence was rubbished by the Sheriff).
However, Liberty corporate is listed as secretary to Tixway at the Bath Street, Glasgow address, and not at either of the addresses given above.
I am sure someone in Mr Whyte’s backroom team does these little things just to see if anyone spots them, by way of harmless amusement!