Question for Islay

[Dens Park Dynamo]

The Bank of Scotland were to blame for Admin 1 when the Marrs were in charge.

How do you come to that conclusion?

[islaydarkblue]

How do you come to that conclusion?

The Bank of Scotland top management allowed the Marrs to keep spending money employing new players on lavish salaries when Dundee Football Club’s annual income was totally insufficient to pay these salaries.
From memory Dundee Football Club were due Bank of Scotland £22 million when they were forced to call in the administrators in 2003.

[Dens Park Dynamo]

The Bank of Scotland top management allowed the Marrs to keep spending money employing new players on lavish salaries when Dundee Football Club’s annual income was totally insufficient to pay these salaries.
From memory Dundee Football Club were due Bank of Scotland £22 million when they were forced to call in the administrators in 2003.

Yes BOS lent the Marrs the money but admin was down to the Marrs. They ran the business and they were reckless on how the borrowed money was spent etc culminating in being unable to pay back the money borrowed. By your logic any business that goes into admin is the banks fault if said business borrowed money from the bank. Yes the bank should have been more responsible on the amount they lent to the Marrs but the bank was not responsible for the admin, bad business decisions both on and off the park was the cause.

[ROMA84]

Yes BOS lent the Marrs the money but admin was down to the Marrs. They ran the business and they were reckless on how the borrowed money was spent etc culminating in being unable to pay back the money borrowed. By your logic any business that goes into admin is the banks fault if said business borrowed money from the bank. Yes the bank should have been more responsible on the amount they lent to the Marrs but the bank was not responsible for the admin, bad business decisions both on and off the park was the cause.

If I posted this I would have a member of this forum asking for a name to deflect the real issue being discussed.

[islaydarkblue]

Yes BOS lent the Marrs the money but admin was down to the Marrs. They ran the business and they were reckless on how the borrowed money was spent etc culminating in being unable to pay back the money borrowed. By your logic any business that goes into admin is the banks fault if said business borrowed money from the bank. Yes the bank should have been more responsible on the amount they lent to the Marrs but the bank was not responsible for the admin, bad business decisions both on and off the park was the cause.

The Bank of Scotland top management should have started to bounce the cheques long before the debts reached £22 million and Admin 1 took place.
I was speaking to a person who worked in RBS in Manchester and he asked me how Dundee Football Club could afford to sign Cannigia.
I replied that I did not know how they were able to sign Cannigia especially with the home gates they were getting at that time.
Now we know that it was the Bank of Scotland in Edinburgh who were ultimately paying for the cost of Cannigia’s wages plus the wages of all the other high earning players.