Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

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I think in one of his earlier pieces he indicated it was up front financing based on anticipated additional player fees when players exceeded a set number of games they'd played. But now that I've typed it out, it sounds daft.

Found it https://philmacgiollabhain.ie/2017/1...ing-for-sevco/

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Apparently they were looking for people to advance them money until the future payments came in for Garner, Waghorn etc. As these payments are not guaranteed though as they are based on appearances, goals etc they were told to bolt.
All allegedly.


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Cheers, that makes sense. Well, as much sense as it would to a drowning man....

[Ozyhibby]

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Cheers, that makes sense. Well, as much sense as it would to a drowning man....

While your here, if they do go into admin, would the 3 bears, NOAL etc count as connected creditors and therefore be excluded from any CVA vote?


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[CropleyWasGod]

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While your here, if they do go into admin, would the 3 bears, NOAL etc count as connected creditors and therefore be excluded from any CVA vote?


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I think they should be, however.... see also the Hearts situation, where BJ saw fit to allow the bank to have a vote in the CVA.

I know what you're thinking... ... if they are excluded, step forward Mr Hector. Again.

[Aim Here]

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The thing that doesn't ring true with me is the bit about RFC trying to get "invoice financing". Businesses like theirs are generally cash-based, whereas those who use IF are credit-based.

Unless, of course, they're trying to get an advance on ST sales. Now, that would be a good plan.....

That's what the plan was under the Craig Whyte regime - use credit secured against future ST revenue to keep the team afloat until HMRC ruled in their favour. If they didn't, no loss to Whyte, it was gambling with the creditor's money...

Anyways, borrowing against future ST sales is a standard way of financing sports clubs and is usually a pretty safe bet for the lenders - but clearly Rangers don't have that avenue open right now, otherwise they'd have used it to buy Murphy outright this window, rather than borrowing the player until the actual money comes in (because there's no way Brighton would have lent a player they're trying to offload without adding on a premium, meaning Rangers are losing money by doing things this way).

[Ozyhibby]

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I think they should be, however.... see also the Hearts situation, where BJ saw fit to allow the bank to have a vote in the CVA.

I know what you're thinking... ... if they are excluded, step forward Mr Hector. Again.

Also it would make it harder for them to control the admin.


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[Famous Fiver]

What I am looking forward to is the internal blood letting.

They owe the money to themselves and each other!!

Canny wait for the fall out. Blood and guts everywhere!!!

[JimBHibees]

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What is the evidence of corruption ?

Were rangers allowed to re-form and retain their place ? OK the rules were bent, but lets be honest while we enjoyed the fall we also want to see rangers back in the top flight, but maybe not winning

What about Celtic, did they get corruption in their favour when the Jorge Cadete registration was botched.

Yes they get the better of decisions, but its not corruption

Farry deliberately delayed the registration so he couldnt play in a cup tie v Rangers. Was the allowed to resign and signed a non disclosure agreement so he didnt have to divulge the truth, typical Scottish football brushing under the carpet.

[Jack]

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Also it would make it harder for them to control the admin.


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So the alleged shopping around for a cheap Administration company, and letting the cat out the bag, could all be in vein?

[HoboHarry]

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So the alleged shopping around for a cheap Administration company, and letting the cat out the bag, could all be in vein?

If it isn't vein it could be a bloodbath.......

[lgnsh70]

https://www.scotcourts.gov.uk/curren...0-ff0000d74aa7

King must have lodged an appeal as a motion from his Counsel is being opposed tomorrow in the Inner House.

He's not known as the Glib and Shameless for nothing.

[Ozyhibby]

Dave King been given leave to appeal. Will be heard on 28 Feb. Two days set aside. Motion for Early disposal by ToP brief appears to have been granted.



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[lgnsh70]

I'm going to try to attend the appeal hearing if possible. Only the Glib and Shameless could pretend he was impecunious among other things. This is case history in the making and is comedy gold. Can't wait.

[Smartie]

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I'm going to try to attend the appeal hearing if possible. Only the Glib and Shameless could pretend he was impecunious among other things. This is case history in the making and is comedy gold. Can't wait.

How do you go about doing that, and where is it likely to be?

I must admit that throughout the whole Sevco saga, I've quite fancied going along to view proceedings at some stage.

It's a bit like live theatre, involving characters with whom we are all familiar.

I'm not from a legal background so wouldn't be 100% up on everything but apart from anything else I think it would be quite cool to see how a court operates.

[lgnsh70]

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How do you go about doing that, and where is it likely to be?

I must admit that throughout the whole Sevco saga, I've quite fancied going along to view proceedings at some stage.

It's a bit like live theatre, involving characters with whom we are all familiar.

I'm not from a legal background so wouldn't be 100% up on everything but apart from anything else I think it would be quite cool to see how a court operates.

It'll be heard in the Inner House court settings contained within the Court of Session 1 Parliament Square next to St Giles. Go through the reception/search area and enter the big main corridor, turn into the second left corridor if I remember rightly and you'll see the notice boards listing the courts business day. If the case has not been allocated as yet ask back at the reception desk and they'll keep you informed.

Whichever court has been allocated won't usually open its doors until just before 10 am however the cafe downstairs is open from an hour or so beforehand.

Hearings are normally open to the public unless an in camera has been sought which would be unlikely in this case.

Its certain to be very interesting indeed mate.

[JeMeSouviens]

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Its within the Inner House court settings in the Court of Session 1 Parliament Square next to St Giles. Go to the reception area and through the search area and the pages with the courts day of business is normally pinned up on the notice board just down the big corridor.

The court it's being heard in won't open its doors until just before 10 am usually but the cafe downstairs is open from an hour or so beforehand.

If its not been allocated yet ask at the reception desk and they'll keep you informed. Hearings are normally open to the public unless an in camera has been sought which would be unlikely in this case.

Its certain to be very interesting indeed mate.

Will they let you in with a Hibs scarf on?

[lgnsh70]

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Will they let you in with a Hibs scarf on?

Certainly worth a try.

[ehf]

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Dave King been given leave to appeal. Will be heard on 28 Feb. Two days set aside. Motion for Early disposal by ToP brief appears to have been granted.



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Is this right? Can't see it reported anywhere.

[Ozyhibby]

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Is this right? Can't see it reported anywhere.

There is report from court on the sfm website.


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[Ozyhibby]

Screenshot from the Daily Records ‘all is well at Ibrox, def no admin worries here’ report.
CWG, why would they set up an escrow account for a new manager?


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[sleeping giant]

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Will they let you in with a Hibs scarf on?

[CropleyWasGod]

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Screenshot from the Daily Records ‘all is well at Ibrox, def no admin worries here’ report.
CWG, why would they set up an escrow account for a new manager?


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Maybe to let Aberdeen see that their compensation money was safe. AFC, as Brighton did, were possibly doing due diligence.

It's ok, though. Super Ally says Rangers don't have a problem. I think we can finally close this thread.

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[Ozyhibby]

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Maybe to let Aberdeen see that their compensation money was safe. AFC, as Brighton did, were possibly doing due diligence.

It's ok, though. Super Ally says Rangers don't have a problem. I think we can finally close this thread.

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I saw that, although he did say ‘hopefully’ about 5 times.


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[wallpaperman]

Those loveable scamps have been spreading their gospel in Florida with their unique songbook.

Link from the Sun newspaper website (unfortunately)

https://www.thescottishsun.co.uk/new...enter-dancing/

[Mr White]

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Those loveable scamps have been spreading their gospel in Florida with their unique songbook.

Link from the Sun newspaper website (unfortunately)

https://www.thescottishsun.co.uk/new...enter-dancing/

Got to laugh at the defence put up by the hun girl in the video

https://www.thescottishsun.co.uk/new...s-florida-cup/

"It wasn't just me, the whole stand was singing".

Again sorry for the link to the sun.

[ehf]

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Those loveable scamps have been spreading their gospel in Florida with their unique songbook.

Link from the Sun newspaper website (unfortunately)

https://www.thescottishsun.co.uk/new...enter-dancing/

Celebrating genocide, bigotry and religious hatred; it's the Rangers way.

[silverhibee]

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Got to laugh at the defence put up by the hun girl in the video

https://www.thescottishsun.co.uk/new...s-florida-cup/

"It wasn't just me, the whole stand was singing".

Again sorry for the link to the sun.

The majority as per and not a minority.

And still no statement from the Bears, getting lazy is Jaba.

[21.05.2016]

If they were to re-enter administration it truly would be a wonderful thing.

Despite all the threats and scare mongering from the huns and their apologists in the media last time about how without Rangers Scottish football was doomed, clubs would go bust, crowd numbers would plummet etc etc. it didn't happen and if anything Scottish football flourished with many clubs including ourselves getting record crowds.

The sooner that toxic institution is dead and buried for good the better.

[Billy Whizz]

Looks like they are selling him off to the highest bidder
Hope he stays put, smacks of desperation

http://www.bbc.co.uk/sport/football/42813292

[jacomo]

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Got to laugh at the defence put up by the hun girl in the video

https://www.thescottishsun.co.uk/new...s-florida-cup/

"It wasn't just me, the whole stand was singing".

Again sorry for the link to the sun.

Thick as mince.

[Aim Here]

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Thick as mince.

Clearly. The smarter bulbs among the Rangers crowd would have replied 'b-b-but what about when Celtic fans sing IRA songs?'.

The real geniuses in the support would run with 'A bigger lad made me do it'.