Generic Sevco / Rangers meltdown thread

[Aldo]

There partners in crime "Celtc" have a wee ditty about Davie Cooper.

I don't doubt it for a second Silver. Still pretty poor though!


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[GlesgaeHibby]

Sun Report: Murty to stay in his position as caretaker manager for Celtic game. Ibrox board impressed with his performance so far, despite the loss at Dundee.

Translation: Huns are skint and can't afford to bring in another manager.

[Bostonhibby]

Sun Report: Murty to stay in his position as caretaker manager for Celtic game. Ibrox board impressed with his performance so far, despite the loss at Dundee.

Translation: Huns are skint and can't afford to bring in another manager.
Never thought I'd find myself agreeing with the the huns board but he is definitely doing the sort of job we'd want so hopefully he stays beyond the thrashing from celtc. No doubt they'll eventually find a suitably qualified protestant / the rangers man.

[Moulin Yarns]

Sun Report: Murty to stay in his position as caretaker manager for Celtic game. Ibrox board impressed with his performance so far, despite the loss at Dundee.

Translation: Huns are skint and can't afford to bring in another manager.

Who to believe?

http://www.bbc.co.uk/sport/football/39032552

Or are they going through the motions.

[Scott Allan Key]

I'm going for rangers²


GGTTH

I'm going for Third Rangers.

[lapsedhibee]

I'm going for Third Rangers.

If they come back again it'll remind me of the mythological many-headed serpent so I'll go for Hydra Rangers, or Hydrangers for short.

[Hibs Class]

Who to believe?

http://www.bbc.co.uk/sport/football/39032552

Or are they going through the motions.

I really feel for McLeish. He couldn't have whored himself any more blatantly, yet he still seems to be regarded as less than the last resort. Shame.

[Kavinho]

I'm going for Third Rangers.

Without a shadow of a doubt, this is the best of the renaming options should there be yet another reincarnation..

[Hibernia&Alba]

I'm going for Third Rangers.

:top marks

Very good indeed.

[Hibernia&Alba]

I really feel for McLeish. He couldn't have whored himself any more blatantly, yet he still seems to be regarded as less than the last resort. Shame.

Humiliated himself on live TV, just to be dinghied. Clown.

[bringbackbenny]

Great article on the shenanigans at The Rangers.

http://twohundredpercent.net/rangers-warburton-resignation/

[jacomo]

Great article on the shenanigans at The Rangers.

http://twohundredpercent.net/rangers-warburton-resignation/


Good find.

There are indeed 100 questions about how Sevco parted company with Warburton.

Why aren't the MSM asking them?

It shows how bad things are when Keith Jackson is closest to being impartial on this.

[The Leith Dutch]

If they come back again it'll remind me of the mythological many-headed serpent so I'll go for Hydra Rangers, or Hydrangers for short.

:D

[snedzuk]

I'm going for rangers²


GGTTH

Rather than rangers squared should that not be rangers on the square.

[Deansy]

Great article on the shenanigans at The Rangers.

http://twohundredpercent.net/rangers-warburton-resignation/

'But whatever the rights and wrongs of this Rangers-themed shambles, the attitudes of Scotland’s, predominantly Glasgow’s, football press are again the most depressing aspect'

One of those days, one of these journalists are bound to 'go off the reservation' and spill the beans on exactly what goes on when it comes to reporting on the Hun - I expect being threatened with losing their job will be just one of the tactics employed.

[northstandhibby]

Maybe they should go for a whole new rebrand - 'We were ra peepul'.

glory glory

[northstandhibby]

'But whatever the rights and wrongs of this Rangers-themed shambles, the attitudes of Scotland’s, predominantly Glasgow’s, football press are again the most depressing aspect'

One of those days, one of these journalists are bound to 'go off the reservation' and spill the beans on exactly what goes on when it comes to reporting on the Hun - I expect being threatened with losing their job will be just one of the tactics employed.

:top marks

I expect its worse than just that. Its very probably at the least a lifelong blacklisting which would affect their immediate families if the offence was deemed bad enough. However its very probably why they are employed there in the first place because they are 'reel rangerz men' and won't go off message or spill the beans. The authorities are full of them unfortunately. We require a fundamental root and branch revolution to break the glasgow media mafia.

glory glory

[southern hibby]

[QUOTE=snedzuk;4951779]Rather than rangers squared should that not be rangers on the square.[/QUOTE

So it wasn't just me with that thought. However thought the squared bit was probably too cryptic but alas someone with the same sense of humour as l

GGTTH

[Ozyhibby]

STARRED MOTIONS

Thursday 2nd March

1hr
A184/16 The Rangers Football Club Ltd v Charles Green
Anderson Strathern LLP
Heggie Alexander


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[Ozyhibby]

https://stv.tv/news/west-central/1382098-rangers-to-pay-charles-green-and-mike-ashley-s-legal-fees/?utm_content=buffer34c58&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer


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[lapsedhibee]

https://stv.tv/news/west-central/1382098-rangers-to-pay-charles-green-and-mike-ashley-s-legal-fees/?utm_content=buffer34c58&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer


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It is not known how much the Glasgow side will have to pay for Thursday's hearing. It is thought to be several thousands of pounds.

Only? :boo hoo:

[Geo_1875]

It is not known how much the Glasgow side will have to pay for Thursday's hearing. It is thought to be several thousands of pounds.

Only? :boo hoo:

I'd be surprised if it's not many several thousands of pounds.

[Smartie]

Mike Ashley's lawyers were a shambles at that case a couple of years ago.

They were straight out of the legal bargain bucket and can't have cost him much so I'd be surprised if his costs will have been high for this day in court.

[HoboHarry]

Mike Ashley's lawyers were a shambles at that case a couple of years ago.

They were straight out of the legal bargain bucket and can't have cost him much so I'd be surprised if his costs will have been high for this day in court.
Doesn't mean they can't bill high and quite rightly too.....

[AltheHibby]

Ashley has just bought Agent Provocateur. Just picture The Tribute Rangers running out looking like a Rocky Horror Picture Show Tribute and try not to lose your tea.

Or for a gentler image, Dodgeball with the wrong uniforms.

[Is It On....]

Ashley has just bought Agent Provocateur. Just picture The Tribute Rangers running out looking like a Rocky Horror Picture Show Tribute and try not to lose your tea.

Or for a gentler image, Dodgeball with the wrong uniforms.

Agent Provocateur, at £25m, costs more than Sevco 😎. Boyd could have taken Meatloaf's place in the film...similar physique..

[mca]

Ashley has just bought Agent Provocateur. Just picture The Tribute Rangers running out looking like a Rocky Horror Picture Show Tribute and try not to lose your tea.

Or for a gentler image, Dodgeball with the wrong uniforms.


Thanks for the mental images.. Cant But Wonder Whatever Will Happen to the People etc of Glasgow when Sports Direct start selling this..
:greengrin

[HoboHarry]

We know there in no end to the stupidity of their supporters, but it seems that their ex-players aren't averse to showing how idiotic they are as well........

http://www.scotsman.com/sport/football/teams/rangers/rangers-should-bring-back-walter-smith-graeme-souness-1-4386845

[fat freddy]

We know there in no end to the stupidity of their supporters, but it seems that their ex-players aren't averse to showing how idiotic they are as well........

http://www.scotsman.com/sport/football/teams/rangers/rangers-should-bring-back-walter-smith-graeme-souness-1-4386845

Balderdash worthy of Terry F@*kwit in Viz, 'I'd lock Walter and Souness in a room until they agreed to come, but they wont come unless there is money to spend, and theres no money to spend, so they wont come, but I'd lock them in a room until they agreed to come, but they wont come unless theres money to spend, so they wont come...blah blah blah for all eternity'

no wonder newspaper sales are falling off a cliff, The Scotsman used to be known as a quality paper..

[Bostonhibby]

We know there in no end to the stupidity of their supporters, but it seems that their ex-players aren't averse to showing how idiotic they are as well........

http://www.scotsman.com/sport/football/teams/rangers/rangers-should-bring-back-walter-smith-graeme-souness-1-4386845
Didn't souness sign all them Kaffliks with their EBT'S and other strange ways which caused all this mess in the first place?

They really are f***wits.

[SJNB Hibby]

We know there in no end to the stupidity of their supporters, but it seems that their ex-players aren't averse to showing how idiotic they are as well........

http://www.scotsman.com/sport/football/teams/rangers/rangers-should-bring-back-walter-smith-graeme-souness-1-4386845

The comments are comedy gold

[Deansy]

We know there in no end to the stupidity of their supporters, but it seems that their ex-players aren't averse to showing how idiotic they are as well........

http://www.scotsman.com/sport/football/teams/rangers/rangers-should-bring-back-walter-smith-graeme-souness-1-4386845



Stupor-Sally - '.. but we needed investment 2 or 3 years ago and we need investment now'

The 'Cheeky-Chappie' once again proving you couldn't mark his neck with a blow-torch - maybe there wasn't enough of the £50m left after he initially refused to take a pay-cut from his horrendously over-paid (alleged £750,000 salary which, again, allegedly, contained increments to raise it even higher !!).................. then was publicly shamed into taking a pay-cut ....................... which 6 months was revealed he STILL hadn't taken the pay-cut because, according to him - 'it's proving difficult arranging for my people and their people to get together as both are very busy' !

If only cheating was still allowed .............................

but we needed investment two or three years ago and we need investment now.

[Smartie]

Balderdash worthy of Terry F@*kwit in Viz, 'I'd lock Walter and Souness in a room until they agreed to come, but they wont come unless there is money to spend, and theres no money to spend, so they wont come, but I'd lock them in a room until they agreed to come, but they wont come unless theres money to spend, so they wont come...blah blah blah for all eternity'

no wonder newspaper sales are falling off a cliff, The Scotsman used to be known as a quality paper..

So basically he's proposing locking Walter Smith and Graeme Souness in a room and leaving them there?

Not that bad an idea really but I don't know how it's going to help The Rangers.

[Mr White]

So basically he's proposing locking Walter Smith and Graeme Souness in a room and leaving them there?

Not that bad an idea really but I don't know how it's going to help The Rangers.

If the years 2012 to 2014 taught us anything it was that tactics, strategy and joined up thinking aren't talents that Mr McCoist can make any reasonable claim to possess.

[Deansy]

Over on hun-media, there's a new poll -

http://forum.rangersmedia.co.uk/topic/305210-are-the-taigs-titles-tainted/

'Are the taigs titles tainted?'

Words fail and all that !!

[Dalianwanda]

Over on hun-media, there's a new poll -

http://forum.rangersmedia.co.uk/topic/305210-are-the-taigs-titles-tainted/

'Are the taigs titles tainted?'

Words fail and all that !!


I only got about 6 posts down and had to stop reading.....:confused::rolleyes::violin::hmmm::cra zy:

[JackLadd]

Over on hun-media, there's a new poll -

http://forum.rangersmedia.co.uk/topic/305210-are-the-taigs-titles-tainted/

'Are the taigs titles tainted?'

Words fail and all that !!




Zombies are expert on tainted titles. They claim 55 won by a defunct club, 6 of them with illegal EBT's.

[tamig]

I only got about 6 posts down and had to stop reading.....:confused::rolleyes::violin::hmmm::cra zy:

Indeed. Some hunbelievably twisted language on that thread. I guess that's endemic of the whole site though.

[NthCarolinaHibs]

"54 titles won,without the help of the SFA.."....🤔...Oh, ffs......

[The Leith Dutch]

Over on hun-media, there's a new poll -

http://forum.rangersmedia.co.uk/topic/305210-are-the-taigs-titles-tainted/

'Are the taigs titles tainted?'

Words fail and all that !!


Tainted titles are when the title winning team cheats - say by spending money they don't have and stiffing the taxman / creditors - rather than when the principle rivals of that team run their club so badly and dishonestly - say by spending money they don't have and stiffing the taxman / creditors - that it goes out of existence and they have to start a new club at the bottom of the league structure.

It's almost as though there's some kind of connection between spending money they don't have and stiffing the taxman / creditors and the plight of (the) Rangers......if only I could put my finger on it......

[Keith_M]

Tainted titles are when the title winning team cheats - say by spending money they don't have and stiffing the taxman / creditors - rather than when the principle rivals of that team run their club so badly and dishonestly - say by spending money they don't have and stiffing the taxman / creditors - that it goes out of existence and they have to start a new club at the bottom of the league structure.

It's almost as though there's some kind of connection between spending money they don't have and stiffing the taxman / creditors and the plight of (the) Rangers......if only I could put my finger on it......



Sounds like a certain other club a little closer to home...

[Cabbage East]

I wonder how the notoriously progressive and liberal Rangers fans will react when they find out that their new manager has what they would call a non-traditional sexuality?

[The Leith Dutch]

Sounds like a certain other club a little closer to home...

On that subject there appears to be an error on Wikipedia that we should correct for those of a Gorgie persuasion:
https://en.wikipedia.org/wiki/List_of_Scottish_Cup_finals#Performance_by_club

Looking at the second row it incorrectly lists Rangers last Scottish Cup defeat as 2016 when it was in fact in 1998 against Hearts......

[Ozyhibby]

I wonder how the notoriously progressive and liberal Rangers fans will react when they find out that their new manager has what they would call a non-traditional sexuality?

https://uploads.tapatalk-cdn.com/20170310/455392f481bafcdf934441300ca8e598.jpg
They're so progressive it doesn't even come up. [emoji23]



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[Keith_M]

Let's see if I've got this straight (excuse the pun), The Rangers new manager is a Gay Roman Catholic?


Shouldn't be a problem for fans of The Rangers, surely?



http://collections.rmg.co.uk/mediaLib/381/media-381368/large.jpg

[Cabbage East]

So I hear. Shouldn't be a problem for them though, surely.

[Hibernia&Alba]

I wonder how the notoriously progressive and liberal Rangers fans will react when they find out that their new manager has what they would call a non-traditional sexuality?
Is that true? Not that it should matter one iota. if this is the case, it's a step forward in football.

[Deansy]

Zombies are expert on tainted titles. They claim 55 won by a defunct club, 6 of them with illegal EBT's.

ONLY SIX - 6 ??. Maybe, the courts only found 6 but I think we all know that there was far more than THAT !!. Who knows how long Murray was 'at it' during his time at 'Greyskull' - also take into account all of their paperwork they claim was 'lost/mislaid' for the previous years and it's almost impossible that a true figure of their cheasting will ever be known. My view is that as Murray was in charge for aproximately 30 years - they cheated for 30 years !

On a separate note but still on the Hun cheating - isn't there a final case/appeal coming up, iirc, one they appealed against but is likely to fail ?. And if the verdict is upheld the GFA will have no option but to strip THEIR 'Tainted Titles' from them ?. There's been so many cases since they were caught it's so easy to lose track !

[Ozyhibby]

ONLY SIX - 6 ??. Maybe, the courts only found 6 but I think we all know that there was far more than THAT !!. Who knows how long Murray was 'at it' during his time at 'Greyskull' - also take into account all of their paperwork they claim was 'lost/mislaid' for the previous years and it's almost impossible that a true figure of their cheasting will ever be known. My view is that as Murray was in charge for aproximately 30 years - they cheated for 30 years !

On a separate note but still on the Hun cheating - isn't there a final case/appeal coming up, iirc, one they appealed against but is likely to fail ?. And if the verdict is upheld the GFA will have no option but to strip THEIR 'Tainted Titles' from them ?. There's been so many cases since they were caught it's so easy to lose track !

Supreme Court case next week. Verdict later in the year.
It's then that we will see the mettle of the clubs, our own included if HMRC win the case. These titles should be stripped and LNS set aside. It will be an established fact that they used an illegal tax scheme to secure sporting advantage. Only the weakness of the other clubs will stop them being held to account.
After that, with a bit of luck, the Sevconians might indulge in a bit of whataboutery regarding Hearts opaque loan system and that may be revisited in an attempt to spread the blame.


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[JackLadd]

Supreme Court case next week. Verdict later in the year.
It's then that we will see the mettle of the clubs, our own included if HMRC win the case. These titles should be stripped and LNS set aside. It will be an established fact that they used an illegal tax scheme to secure sporting advantage. Only the weakness of the other clubs will stop them being held to account.
After that, with a bit of luck, the Sevconians might indulge in a bit of whataboutery regarding Hearts opaque loan system and that may be revisited in an attempt to spread the blame.


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LNS adjudged the EBT tax avoidance scheme legal and no sporting advantage. That will be rendered null and void should HMRC prevail. We could have two hats Rod as SFA President when the verdict is rendered, so far been a pretty good enabler for the Sevco Franchise. Integrity is beyond purchase though, eh Rod?

[marinello59]

LNS adjudged the EBT tax avoidance scheme legal and no sporting advantage. That will be rendered null and void should HMRC prevail. We could have two hats Rod as SFA President when the verdict is rendered, so far been a pretty good enabler for the Sevco Franchise. Integrity is beyond purchase though, eh Rod?

Eh?

[JackLadd]

Eh?


https://www.thescottishsun.co.uk/sport/football/223815/hibs-boss-rod-petrie-could-be-new-sfa-president-as-early-as-next-summer/

[HappyAsHellas]

Eh?

18198

[Deansy]

Supreme Court case next week. Verdict later in the year.
It's then that we will see the mettle of the clubs, our own included if HMRC win the case. These titles should be stripped and LNS set aside. It will be an established fact that they used an illegal tax scheme to secure sporting advantage. Only the weakness of the other clubs will stop them being held to account.
After that, with a bit of luck, the Sevconians might indulge in a bit of whataboutery regarding Hearts opaque loan system and that may be revisited in an attempt to spread the blame.


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Cheers Mate - THAT'S what I was talking about !. For such an important event, I've seen/heard absolutely nothing about it in our 'Media' but that's to be expected. I think that's what the Hun/GFA are pinning their hopes on - that time and no media-coverage will have dampened the emotions and feelings of the other club's, their fans and the public in general. But if the farcical verdict of LNS is set aside, they SHOULD and MUST be stripped of these titles !. I know the authorities are afraid of the possible 'civil unrest' the hordes might cause but that should NOT be a deterrent to justice being done !

And as you say, the silver-lining WILL be the Hun will most certainly indulge in 'Whit-abootery' and despite the fact it's their 'wee team'. they WILL demand Hearts are also looked into - and there's no doubt the GFA will help them with that !. Plus, I've said for ages that once Romanov's caught - and he will be one day - and when he reveals exactly what went on at the PBS during his time, it's almost certain that their 2 (?) cup-wins will be wiped from the books. And all that money they spent on 'winning' them too ................ aw !!!

[CentreLine]

Wishful thinking I'm afraid. There will be no titles stripped or cup wins for that matter.

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20170312/334a8d2ca7d1e915c623a9cbd1a8226a.jpg

Posted by a Sevconian on follow follow. He's being call a fenian etc but it's a good summary of the case this week.


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[Kaiser1962]

LNS adjudged the EBT tax avoidance scheme legal and no sporting advantage. That will be rendered null and void should HMRC prevail. We could have two hats Rod as SFA President when the verdict is rendered, so far been a pretty good enabler for the Sevco Franchise. Integrity is beyond purchase though, eh Rod?

How do you get to this bit?

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20170313/ddbcb86c76d82551b60009bef80eed99.jpg
It looks like Dave King has been ordered to make a full offer for everyone's shares in Sevco after beings ruled to be part of a concert party?


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[stantonhibby]

https://uploads.tapatalk-cdn.com/20170313/ddbcb86c76d82551b60009bef80eed99.jpg
It looks like Dave King has been ordered to make a full offer for everyone's shares in Sevco after beings ruled to be part of a concert party?


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Which case is this...... I've lost track as there are so many!

[Ozyhibby]

Which case is this...... I've lost track as there are so many!

Not sure but he has to offer 20p a share for every share he does not own. Would cost him £14m.


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[Ozyhibby]

https://uploads.tapatalk-cdn.com/20170313/f7d146f7dd7860fb50fb3cc66da87c7f.jpg


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[stantonhibby]

Not sure but he has to offer 20p a share for every share he does not own. Would cost him £14m.


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:thumbsup:

[HoboHarry]

https://uploads.tapatalk-cdn.com/20170313/ddbcb86c76d82551b60009bef80eed99.jpg
It looks like Dave King has been ordered to make a full offer for everyone's shares in Sevco after beings ruled to be part of a concert party?


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Will he subject to legal action if he refuses?

[Ozyhibby]

Interestingly, this has never been mentioned in the Scottish Press? No journo has so far taken to Twitter to comment yet?
You would think the takeover panel ruling against the chairman of Sevco and ordering him to make a full takeover bid would be news.


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[HoboHarry]

Interestingly, this has never been mentioned in the Scottish Press? No journo has so far taken to Twitter to comment yet?
You would think the takeover panel ruling against the chairman of Sevco and ordering him to make a full takeover bid would be news.


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Who are the takeover panel? What legal authority do they have?

[Ozyhibby]

http://thecelticblog.com/2017/03/blogs/dave-king-ordered-to-offer-all-existing-sevco-shareholders-a-buy-out-in-stunning-court-ruling/


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[grunt]

Takeover Panel report in full http://www.thetakeoverappealboard.org.uk/downloads/2017-01.pdf

[Velma Dinkley]

Do you know if there any tickets left for the Dave King Concert Party?

[JackLadd]

Bobby Madden will get 20p for his Sevco shares then. Another result to celebrate for him.

[ballengeich]

While the focus has generally been on the business's trading losses I've felt for some time that these were close to being under control and that any real threat to their finances would come from court cases, caused by the board's high-risk strategy to the company's contracts with other businesses and individuals.

It remains to be seen how much this particular case could cost the directors as it's unclear what percentage of other shareholders would want to accept any offer. However, regardless of that figure there's a few more other cases looming. It's possible that Warburton's departed management group will win their compensation claim. Additionally there's a couple of legal conflicts with Ashley's companies in which the sums at stake seem substantially higher. Win these and Rangers' commercial income rises significantly. Lose and the fat man will want revenge for the removal of his henchmen from the Ibrox board two years ago.

How deep are the directors' pockets?

[Moulin Yarns]

Do you know if there any tickets left for the Dave King Concert Party?

Is that the farewell tour concert or the benefit tour concert :wink:

[Ozyhibby]

https://rangers.co.uk/news/headlines/dave-king-statement-6/



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[JackLadd]

While the focus has generally been on the business's trading losses I've felt for some time that these were close to being under control and that any real threat to their finances would come from court cases, caused by the board's high-risk strategy to the company's contracts with other businesses and individuals.

It remains to be seen how much this particular case could cost the directors as it's unclear what percentage of other shareholders would want to accept any offer. However, regardless of that figure there's a few more other cases looming. It's possible that Warburton's departed management group will win their compensation claim. Additionally there's a couple of legal conflicts with Ashley's companies in which the sums at stake seem substantially higher. Win these and Rangers' commercial income rises significantly. Lose and the fat man will want revenge for the removal of his henchmen from the Ibrox board two years ago.

How deep are the directors' pockets?


King has to make the offer by April 12th or he's going to be heavily fined and another deadline date set for full buyout. :big grin:

[PatHead]

https://rangers.co.uk/news/headlines/dave-king-statement-6/



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What are The Rangers International shares trading at these days?

[southsider]

How flawed does the SFA ruling King 'fit and proper' look now and can they revoke his licence ?

[HoboHarry]

How flawed does the SFA ruling King 'fit and proper' look now and can they revoke his licence ?
I'm wondering if there are any legal ramifications for Letham, Park and Taylor coming down the pipe for their complicity in this?

[ballengeich]

What are The Rangers International shares trading at these days?

I've seen a post on a hun site suggesting that occasional private deals recently have been around 26p. That suggests that this judgment will have a limited practical impact on finances. It could damage the good name of the company and chairman if they had one.

[ballengeich]

How flawed does the SFA ruling King 'fit and proper' look now and can they revoke his licence ?

Did they ever make such a ruling? I'd an idea that the issue had been ducked because SFA membership is with the operating subsidiary while he'd confined his director's role to the holding company.

[Deansy]

https://rangers.co.uk/news/headlines/dave-king-statement-6/



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So basically it's all the previous board's fault !

Love the ending -

'I will communicate further in due course'

Which - by clerical error, obviously - will 'accidentally' contain the previous board's addresses/directions/plane,train & bus routes/work-routes and times they take them/phone-No's/e-mail-add/fax-No/Facebook/Instagram etc, etc !

Also applies to the previous board's nearest and dearest families and friends ...................

[Ozyhibby]

So basically it's all the previous board's fault !

Love the ending -

'I will communicate further in due course'

Which - by clerical error, obviously - will 'accidentally' contain the previous board's addresses/directions/plane,train & bus routes/work-routes and times they take them/phone-No's/e-mail-add/fax-No/Facebook/Instagram etc, etc !

Also applies to the previous board's nearest and dearest families and friends ...................

Actually, he has 30 days to communicate a full offer for the shares in Sevco he does not own. Although it's unlikely everyone will sell, I would imagine he will have to have the funds in place to make such an offer? Surely he can't just make the offer and X his fingers that nobody accepts?


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[northstandhibby]

Did they ever make such a ruling? I'd an idea that the issue had been ducked because SFA membership is with the operating subsidiary while he'd confined his director's role to the holding company.

May become incumbent upon them to answer it if King is obliged to make an offer for every share? He's been caught with his pants down once again. I don't think he sees properly set out rules and regulations as applying to him. A glib and shameless liar indeed.

glory glory

[CropleyWasGod]

Is that the farewell tour concert or the benefit tour concert :wink:

If the Court cases go a certain way, it could be the Oldco Comeback Tour.

"... but we do do Walking Back".....

[Deansy]

What I think is concerning - but NOT a surprise - this case is 'Big news' but not one - BBC/STV/Sun/Daily Rectum etc - any of our esteemed 'media' have as much mentioned anything at all about it (not that I've read/heard - even googling there's nothing !) ! The fact that they've all neglected to mention this case, afaic, proves there's a concerted effort being made to quash/hide all and anything about the Hun - but only if it's 'Bad news' !

[jacomo]

https://rangers.co.uk/news/headlines/dave-king-statement-6/



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The Sevco story takes another surreal twist.

[grunt]

The fact that they've all neglected to mention this case, afaic, proves there's a concerted effort being made to quash/hide all and anything about the Hun - but only if it's 'Bad news' !To be clear - it's not a "case", as in this is not a legal ruling. The Takeover Panel is a City regulator.

There's now a BBC article http://www.bbc.co.uk/news/uk-scotland-scotland-business-39258190?ns_mchannel=social&ns_campaign=bbc_sportsound&ns_source=twitter&ns_linkname=scotland

[Ozyhibby]

http://www.philmacgiollabhain.ie/acting-in-concert/


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[Ozyhibby]

What I think is concerning - but NOT a surprise - this case is 'Big news' but not one - BBC/STV/Sun/Daily Rectum etc - any of our esteemed 'media' have as much mentioned anything at all about it (not that I've read/heard - even googling there's nothing !) ! The fact that they've all neglected to mention this case, afaic, proves there's a concerted effort being made to quash/hide all and anything about the Hun - but only if it's 'Bad news' !

Every Scottish sports journo appears to have disappeared from Twitter today.


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[Smartie]

Every Scottish sports journo appears to have disappeared from Twitter today.


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They're probably all busy posting vitriolic comments at the bottom of the stories their papers are carrying on the subject of Indyref2, whilst gently mopping up the foam that is coming from their mouths.

[CropleyWasGod]

Actually, he has 30 days to communicate a full offer for the shares in Sevco he does not own. Although it's unlikely everyone will sell, I would imagine he will have to have the funds in place to make such an offer? Surely he can't just make the offer and X his fingers that nobody accepts?


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According to Phil, the shares are worthless. Soooooo, I'm no financial wizard, but...if someone came along and offered me 20p for my worthless share.......

[northstandhibby]

What I think is concerning - but NOT a surprise - this case is 'Big news' but not one - BBC/STV/Sun/Daily Rectum etc - any of our esteemed 'media' have as much mentioned anything at all about it (not that I've read/heard - even googling there's nothing !) ! The fact that they've all neglected to mention this case, afaic, proves there's a concerted effort being made to quash/hide all and anything about the Hun - but only if it's 'Bad news' !

http://www.bbc.co.uk/news/uk-scotland-scotland-business-39258190

Its virtually all about what King says unfortunately, shows the extreme bias by the beeb instead of reporting the facts of the case.

http://www.thetakeoverpanel.org.uk/

I believe it can enforce its decisions by way of court process.

glory glory

[jacomo]

To be clear - it's not a "case", as in this is not a legal ruling. The Takeover Panel is a City regulator.

There's now a BBC article http://www.bbc.co.uk/news/uk-scotland-scotland-business-39258190?ns_mchannel=social&ns_campaign=bbc_sportsound&ns_source=twitter&ns_linkname=scotland

Why is this a set back for King?

All he needs to do is over invest in some shares and - bingo! - he owns the whole lot!

No doubt he'll be cracking into that wine cellar tonight. He's got a lot to celebrate.

:wink:

Btw I love how he says those responsible for the takeover battle bear 'a heavy responsibility'.

Er, that was you Dave, ya f***wit.

[Deansy]

http://www.bbc.co.uk/news/uk-scotland-scotland-business-39258190

Its virtually all about what King says unfortunately, shows the extreme bias by the beeb instead of reporting the facts of the case.

http://www.thetakeoverpanel.org.uk/

I believe it can enforce its decisions by way of court process.

glory glory

You could argue the BBC have only printed that today because the news of this 'ruling' came out today - why the previous silence/non-mention ?. Afaic, it IS 'Big news' as it affects a club who carried out one of the biggest financail cons in World-football ! (or at least that'll be confirmed when the supreme court wipes out LNS verdict) Add in the fact that their chairman IS a crook and I'd think that in any other country, the media would be all over ?

[northstandhibby]

You could argue the BBC have only printed that today because the news of this 'ruling' came out today - why the previous silence/non-mention ?. Afaic, it IS 'Big news' as it affects a club who carried out one of the biggest financail cons in World-football ! (or at least that'll be confirmed when the supreme court wipes out LNS verdict) Add in the fact that their chairman IS a crook and I'd think that in any other country, the media would be all over ?

Absolutely. It appears they've waited until the appeal boards decision and King's statement in order to manage the media output on this extraordinary development concerning TRIFC. I'm sure they will be debating on their best way forward to limit the exposure and damage done as is the Scottish Media way. It's startling most of us had no knowledge of this case as its consequences could be very interesting indeed.

glory glory

[BH Hibs]

They're probably all busy posting vitriolic comments at the bottom of the stories their papers are carrying on the subject of Indyref2, whilst gently mopping up the foam that is coming from their mouths.

Either that or they're still pished or hungover from their heroes gallant last gasp draw yesterday.

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20170313/0fab9ad7ea40b845e5780c20a9bbf8a4.jpghttps://uploads.tapatalk-cdn.com/20170313/33fd8ec340c9484ffb2601538c83bbfd.jpghttps://uploads.tapatalk-cdn.com/20170313/e0d387da095557a0564d3a1d2e758a92.jpghttps://uploads.tapatalk-cdn.com/20170313/24d3464d49e0510a1a9992d055f625c8.jpghttps://uploads.tapatalk-cdn.com/20170313/9b19c90dc5dbda5afe66c0e067b1af4b.jpghttps://uploads.tapatalk-cdn.com/20170313/fd731b56ae1531294244b43d47874200.jpghttps://uploads.tapatalk-cdn.com/20170313/27f4441857285bbba9bd2c8a305fc083.jpg


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[GordonHFC]

I like the way that the Lying King mentions the Takeover Appeal Boards 'much delayed ruling' but forgets to mention that he was the one holding up the proceedings by failing to attend and then making bogus meetings around availability dates. FUD !!!!

[JackLadd]

King's statement is bizarre. Seems to be selling some lie that the exchange-less shares are worth more than 20p, so the hordes with RIFC certificates will not take it up. Desperate to put them off. :greengrin Of course the compulsory buyout will be very expensive in itself, so even if King is right (doubtful) he faces a huge bill. :aok:

[Is It On....]

Just had a quick check on the shareholder register. At 20p per share he could be forced to buy out a number of people that may have voted against the recent proposal to change the way new shares are issued. This list includes Mike Ashley £1.45m, Alexander Easdale £1.05m, River and Mercantile £940k. This comes to a tasty £3.44m and is 21.1% of the share capital. Can't imagine it's what Disco Dave was hoping for 🙂

[HoboHarry]

Surprised that King isn't leaping with joy at the thought of owning all those Rangers shares, him being a RRM and all that. Surely this helps him with his promised investment plans?

Haw haw haw.............

[CropleyWasGod]

Just had a quick check on the shareholder register. At 20p per share he could be forced to buy out a number of people that may have voted against the recent proposal to change the way new shares are issued. This list includes Mike Ashley £1.45m, Alexander Easdale £1.05m, River and Mercantile £940k. This comes to a tasty £3.44m and is 21.1% of the share capital. Can't imagine it's what Disco Dave was hoping for 🙂

To be clear, he's not being forced to buy them out. He's being forced to make an offer.

Having said that, he may decide to circle the wagons and pull the plug (and any other metaphor), before he goes that far.

[Is It On....]

To be clear, he's not being forced to buy them out. He's being forced to make an offer.

Having said that, he may decide to circle the wagons and pull the plug (and any other metaphor), before he goes that far.

I know - bad use of language ☹️. To be bought out is their decision but he is being forced to give them the option to sell to him. At least I was right it would cost him £3.44m to buy out those 3 (if they accepted the tender offer at 20p 🙂)

[CropleyWasGod]

I know - bad use of language ☹️. To be bought out is their decision but he is being forced to give them the option to sell to him. At least I was right it would cost him £3.44m to buy out those 3 (if they accepted the tender offer 🙂)

To me, their minority interests suggest that their shares aren't worth 20pence, and that's DK's problem. Why would they turn him down?

My guess, and it is early days so it is just a guess, is that he will delay things past the deadline..... long enough for this season to end, perhaps..... and then (if it is in his interests) force administration.

I won't be the first person to think that after today's ruling, and that thought alone has probably wiped much off the share value.

[Fuzzywuzzy]

So, does this mean that admin two is closer now since glib and shameless is f'd?

[HoboHarry]

To me, their minority interests suggest that their shares aren't worth 20pence, and that's DK's problem. Why would they turn him down?

My guess, and it is early days so it is just a guess, is that he will delay things past the deadline..... long enough for this season to end, perhaps..... and then (if it is in his interests) force administration.

I won't be the first person to think that after today's ruling, and that thought alone has probably wiped much off the share value.
Is there any legal method for him to walk away from Sevco and no longer be subject to the ruling?

[Bostonhibby]

While the focus has generally been on the business's trading losses I've felt for some time that these were close to being under control and that any real threat to their finances would come from court cases, caused by the board's high-risk strategy to the company's contracts with other businesses and individuals.

It remains to be seen how much this particular case could cost the directors as it's unclear what percentage of other shareholders would want to accept any offer. However, regardless of that figure there's a few more other cases looming. It's possible that Warburton's departed management group will win their compensation claim. Additionally there's a couple of legal conflicts with Ashley's companies in which the sums at stake seem substantially higher. Win these and Rangers' commercial income rises significantly. Lose and the fat man will want revenge for the removal of his henchmen from the Ibrox board two years ago.

How deep are the directors' pockets?
Good points here.

Is this why he had to keep the now legendary, nae mythical warchest back and instead of spending it on footballers that type of money could command they got Hill teirnan senderos waghorn etc?

Or was he hoping some other mug might buy him out before this liability came along?

I wouldn't sell for any less that 50p a share[emoji1]

End game is coming for dodgy dave as his own money is required soon.

[Bostonhibby]

According to Phil, the shares are worthless. Soooooo, I'm no financial wizard, but...if someone came along and offered me 20p for my worthless share.......
I'm not selling until it hits 50p and rangers men are running the show again. I'm talking cheeky Charlie Green with coisty's full backing. Craig Whyte will also be acceptable if he stays out of jail but only if he sells half the club back to Murray for 50p and they take them back to the good old days together.

Hello hello we are the silly boys.

[Is It On....]

Some rather irate Raingers man on The Den just realised that the £5k he invested at 70p instead of buying a kitchen is now potentially worth £1428 at 20p. As has been mentioned, if he doesn't take the chance to sell now he probably won't have enough for a toaster in a few months time!!

[Jack Hackett]

There's something deeply :woohoo:, coming home to find that there's an extra 3 pages of posts on the 'Generic Sevco/'The' Rangers meltdown thread'

I suspect MSM will be penning libraries of stories in the next month advising against selling, as the Good Times are just around the proverbial corner. I also suspect that individual fools who forked out 75p for each of their now practically worthless shares, might just decide that 20p is better than nothing.

[CropleyWasGod]

Is there any legal method for him to walk away from Sevco and no longer be subject to the ruling?

If they go into admin, certainly.

I'm not sure, though, what the implications would be were he to sell off his own holding. TBH, I'm not sure why he would do that.

[HoboHarry]

If they go into admin, certainly.

I'm not sure, though, what the implications would be were he to sell off his own holding. TBH, I'm not sure why he would do that.
Sorry I had meant was there anyway he could personally walk away by resigning from whatever his position is, or is he still liable even if he is hiding in his bolt hole in South Africa?

[CropleyWasGod]

Sorry I had meant was there anyway he could personally walk away by resigning from whatever his position is, or is he still liable even if he is hiding in his bolt hole in South Africa?
It's not about his position. It's about his shareholding. While he has that, he has to make the offer.

He would have to sell that to avoid the ruling. Like I say, other than the obvious, I can't see why he would do that.

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[Ozyhibby]

http://thecelticblog.com/2017/03/blogs/todays-lse-ruling-leaves-kings-revolution-in-ruins-and-potentially-exposes-him-to-legal-consequences/


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[bathhibby]

When is the big case decision due this week ?

[Winston Ingram]

https://rangers.co.uk/news/headlines/dave-king-statement-6/



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Summary

'I'm guilty but I know you lot are really thick and if I'm extra sooky to you you'll believe me. Also, I cannae afford yer shares so if I'll tell ye they're a lot more valuable than they are in the hope that ye'll no sell them to me'

[Jack]

Just had a quick check on the shareholder register. At 20p per share he could be forced to buy out a number of people that may have voted against the recent proposal to change the way new shares are issued. This list includes Mike Ashley £1.45m, Alexander Easdale £1.05m, River and Mercantile £940k. This comes to a tasty £3.44m and is 21.1% of the share capital. Can't imagine it's what Disco Dave was hoping for 🙂

You didn't notice how much Ali Monetary McCoist would be due?

[Is It On....]

You didn't notice how much Ali Monetary McCoist would be due?

Will check on Tuesday..only looked at the first page of major shareholders 😂

[Keith_M]

You didn't notice how much Ali Monetary McCoist would be due?


750k shares?



:dunno:

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20170313/a63a4d2f76d2211d6855884a5987ca53.jpg

Found this on kickback. The poster is usually a reasonable type.


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[Jack]

Will check on Tuesday..only looked at the first page of major shareholders 😂




750k shares?



:dunno:

£150,000.

Would it be enough to tempt a real sevcovian man?

Probably not but I suspect he'll jump at it!

[Ozyhibby]

http://www.podbean.com/media/share/pb-8t4mp-68a1a0#.WMesfIzBiOw


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[CropleyWasGod]

http://www.podbean.com/media/share/pb-8t4mp-68a1a0#.WMesfIzBiOw


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Gonny paraphrase that for us? Can't bear the guy 😀

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[Is It On....]

£150,000.

Would it be enough to tempt a real sevcovian man?

Probably not but I suspect he'll jump at it!

Can't find Sally's Gardening Services on the list but at 20p per share James Easdale has £114k and Guernsey listed Damille Investments have £171k (their current objectives imply they are seeking to liquidate their holdings). So potentially another cheeky £285k to find if they accept the 20p per share that Disco Dave has been told by the take-over panel to offer all shareholders.

[lapsedhibee]

Gonny paraphrase that for us? Can't bear the guy 😀

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Being suggested that no professional firm will set up the offer documents which TLK will need without seeing the colour of his money. If he doesn't go ahead with an offer he will be a financial pariah and so might The Thes, as the other concert party members are directors there.

In short, any which way you look at it, huns are in sticky stuff. PLEASING.

[Deansy]

Being suggested that no professional firm will set up the offer documents which TLK will need without seeing the colour of his money. If he doesn't go ahead with an offer he will be a financial pariah and so might The Thes, as the other concert party members are directors there.

In short, any which way you look at it, huns are in sticky stuff. PLEASING.

God that line makes me feel so warm and tingly all over - it's like 'Hun-porn' !!

[CropleyWasGod]

Being suggested that no professional firm will set up the offer documents which TLK will need without seeing the colour of his money. If he doesn't go ahead with an offer he will be a financial pariah and so might The Thes, as the other concert party members are directors there.

In short, any which way you look at it, huns are in sticky stuff. PLEASING.
Is it TRFC's expense, though? If he is making the offer, isn't it his cost?

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[Is It On....]

Is it TRFC's expense, though? If he is making the offer, isn't it his cost?

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I would have thought that DK (and maybe the 3 bears) have to shoulder the expenses as it is they who have not acted in accordance with the rules and this judgement is instructing them to rectify the situation. My calculations suggest that there is about £3.8m of shareholding that he could be at risk of accepting the 20p tender. The positive thing is that this would eat up the legendary war chest as he / they would be increasing their shareholding without new money going into the club. I would have thought the risk he would run from admin 2 to avoid this is that Mike Ashley could offer more than him to the administrator to buy the club and he and the 3 bears would lose control as well as the notional value of their shares (DK £2.4m, Douglas Park £1.25m, George Latham £660k, George Taylor £1.5m). No easy way (or cheap) way out.

[Bostonhibby]

If the rangers is such a great business why wouldn't kings and the other blue bellends not grab every share they could at this bargain price?

If they don't are they not running the risk of implying that it's worth less than that in reality or even that GASL can't raise the cash or won't use his own?

[jacomo]

If the rangers is such a great business why wouldn't kings and the other blue bellends not grab every share they could at this bargain price?

If they don't are they not running the risk of implying that it's worth less than that in reality or even that GASL can't raise the cash or won't use his own?


Oh absolutely.

I saw this as a good news story for King - at last, the chance he's been waiting for to propel The Rangers into a new era! - and was surprised by his downbeat statement on the matter.

:wink:

[lapsedhibee]

Is it TRFC's expense, though? If he is making the offer, isn't it his cost?


Yes it's him rather than The Thes that's in the immediate sticky stuff - but if/when he doesn't make an offer The Thes, as well as him, may/will become pariahs in the financial world. The podcast was suggesting.

[Spike Mandela]

John James going to town on the latest news......

https://johnjamessite.com/2017/03/14/takeover-takedown/

[Ozyhibby]

God that line makes me feel so warm and tingly all over - it's like 'Hun-porn' !!

https://theclumpany.wordpress.com/2017/03/14/%EF%BB%BFsevco-porn/

Just for you. [emoji3]


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[pacoluna]

Word of warning, don't get into a twitter dispute with a rangers fan. They come at you like flies on **** from nowhere.

[Ozyhibby]

Word of warning, don't get into a twitter dispute with a rangers fan. They come at you like flies on **** from nowhere.

Yip, that can really muck up you timeline. [emoji23]


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[Pedantic_Hibee]

Word of warning, don't get into a twitter dispute with a rangers fan. They come at you like flies on **** from nowhere.

I used to light the blue touch paper on twitter and soon enough they'd swarm over my timeline....and got batted away one by one. God I miss twitter.

[Ozyhibby]

Supreme Court case live
https://www.supremecourt.uk/live/court-01.html
It's pretty dry stuff although I'm enjoying it.

Coral case decision today at 12 noon as well.


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[greenginger]

Supreme Court case live
https://www.supremecourt.uk/live/court-01.html
It's pretty dry stuff although I'm enjoying it.

Coral case decision today at 12 noon as well.


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I guess we are wanting a Corals victory.

Rangers Football Club were not relegated, they were extinguished ! :greengrin

[21.05.2016]

Word of warning, don't get into a twitter dispute with a rangers fan. They come at you like flies on **** from nowhere.

Rangers fans are the absolute worst on twitter. About 90% of them hide behind nameless and faceless accounts so they can post their bile without recognition (how big and brave eh!). They really are an utterly hate filled bunch, their downfall in the past few years has made them even more bitter and vile. Any slight bit of harmless banter against rangers on social media and your bombarded with personal insults and abuse.

After the OF game is where they really excelled themselves. Sectarianism, racism, abuse towards Jay Beaty, rape and death threats (including towards Leigh Griffiths kids), mocking child abuse (peado seems to be their favourite insult) etc.

Lovely bunch so they are, I just can't for the life of me understand why they are so disliked in this country ?! . . .

[Ozyhibby]

I guess we are wanting a Corals victory.

Rangers Football Club were not relegated, they were extinguished ! :greengrin

Yes although I hate cheering on the bookie and they deserve to lose because of the weak case they put up and their reluctance to call Sevco a new club.


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[Moulin Yarns]

Supreme Court case live
https://www.supremecourt.uk/live/court-01.html
It's pretty dry stuff although I'm enjoying it.

Coral case decision today at 12 noon as well.


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Who is the geezer doing most of the talking?? which side is he on?

[CentreLine]

Who is the geezer doing most of the talking?? which side is he on?

No idea who he is but he is clearly making the case for HMRC.

[greenginger]

Corals win the relegation case.

[Greenworld]

I
Have they finished or on a break

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[Ozyhibby]

No idea who he is but he is clearly making the case for HMRC.

He is BDO's lawyer. [emoji23][emoji3]


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[Moulin Yarns]

He is BDO's lawyer. [emoji23][emoji3]


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He seems to keep losing his place.

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20170315/a3d7a1d6b67dfa653ba87ba3d540fffb.jpg


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[Smartie]

https://uploads.tapatalk-cdn.com/20170315/a3d7a1d6b67dfa653ba87ba3d540fffb.jpg


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Very carefully written to avoid stating anywhere that Rangers ceased to be.

[CropleyWasGod]

Very carefully written to avoid stating anywhere that Rangers ceased to be.

... as it should be. :greengrin

[Geo_1875]

... as it should be. :greengrin

But we know the truth.

[CropleyWasGod]

But we know the truth.

Nah, you misunderstand my post.:greengrin

I meant that the whole question has to be the subject of a separate Court case, not tacked on at the end of some sideshow. We want a big production. :agree:

[Ozyhibby]

http://thecelticblog.com/2017/03/blogs/lord-ballantyne-confirms-that-rangers-were-not-relegated-game-over/


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[ballengeich]

Very carefully written to avoid stating anywhere that Rangers ceased to be.

There's a sentence in the judgment that seems to me to imply that Rangers continued under new ownership :-

"The administrators of The Rangers Football Club Plc sold substantially the whole of the business and undertaking of that company, including that aspect of the business which consisted of the operation of the football team named “Rangers”, to SEVCO Scotland Limited on 14 June 2012."

[Geo_1875]

There's a sentence in the judgment that seems to me to imply that Rangers continued under new ownership :-

"The administrators of The Rangers Football Club Plc sold substantially the whole of the business and undertaking of that company, including that aspect of the business which consisted of the operation of the football team named “Rangers”, to SEVCO Scotland Limited on 14 June 2012."



Then why didn't TUPE apply to their staff?

[Ozyhibby]

There's a sentence in the judgment that seems to me to imply that Rangers continued under new ownership :-

"The administrators of The Rangers Football Club Plc sold substantially the whole of the business and undertaking of that company, including that aspect of the business which consisted of the operation of the football team named “Rangers”, to SEVCO Scotland Limited on 14 June 2012."



Substantially is the key word there. What was missing was the old club.


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[CropleyWasGod]

Substantially is the key word there. What was missing was the old club.


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"including that aspect of the business which consisted of the operation of the football team named “Rangers”" :greengrin

[grunt]

"including that aspect of the business which consisted of the operation of the football team named “Rangers”" :greengrin
So they're not a new club then?

[ballengeich]

So they're not a new club then?

It depends what you mean by a club. The word has different meanings in different places. For example, a golfer who asks his caddy for a club doesn't expect to be handed a chocolate biscuit.

In law a club is an unincorporated group of individuals. A company is a different beast entirely so legally the company now operating a football club at Ibrox is neither the same club as before 2012 nor a different one. At a hearing where Charles Green was trying to get the new company to pay his legal fees one of the judges described the concept of a continuing club as being "a metaphysical concept" i.e. something different from just the registered company and that's where the whole difficulty in resolving the question lies.

As supporters we have an emotional connection to something which, for me, is not the plc running Hibs. The reason that the whole debate has gone on so long is that neither side of the debate ever defines adequately what a club is so they don't have an agreed starting position to argue about.

[greenginger]

"including that aspect of the business which consisted of the operation of the football team named “Rangers”" :greengrin

If a quality cuisine Michelin Star restaurant goes broke and an adminstrator sells the business to Fast Food Freddy who opens a burger joint in the same premises using the same ovens and equipment does he get to keep the Michelin Stars ? :greengrin

[grunt]

A company is a different beast entirely so legally the company now operating a football club at Ibrox is neither the same club as before 2012 nor a different one. Ok. This is the point where I officially give up.

[jacomo]

"including that aspect of the business which consisted of the operation of the football team named “Rangers”" :greengrin


What a tortuous piece of legalese that is.

The 'operation' had ceased. They couldn't pay their bills. Employees got transferred over to a new operation. I don't think this is disputed.

I know your opinion on this and - emotionally, spiritually, whatever - of course it is the same Rangers (albeit in zombie form).

They can even bang on about their history.

But what they cannot do is claim they were relegated or punished by the other clubs. They weren't. They died and had to be brought back to life.

[sleeping giant]

Ok. This is the point where I officially give up.

:faf:

:agree:

[Nameless]

If a quality cuisine Michelin Star restaurant goes broke and an adminstrator sells the business to Fast Food Freddy who opens a burger joint in the same premises using the same ovens and equipment does he get to keep the Michelin Stars ? :greengrin
That's the best explanation I've read - very succinct.

[Iggy Pope]

If a quality cuisine Michelin Star restaurant goes broke and an adminstrator sells the business to Fast Food Freddy who opens a burger joint in the same premises using the same ovens and equipment does he get to keep the Michelin Stars ? :greengrin

Ozyhibby guy might know the answer to this. He enjoys drawing these restaurant analogy things.If I found that my favourite restaurant was taken over by Freddy Fast I'd never be away from my Netflix.

[ian cruise]

What a tortuous piece of legalese that is.

The 'operation' had ceased. They couldn't pay their bills. Employees got transferred over to a new operation. I don't think this is disputed.

I know your opinion on this and - emotionally, spiritually, whatever - of course it is the same Rangers (albeit in zombie form).

They can even bang on about their history.

But what they cannot do is claim they were relegated or punished by the other clubs. They weren't. They died and had to be brought back to life.

This is where I stand, they can be the same Rangers and keep the titles for all I care but they were absolutely not relegated or made to start in the third division as a punishment. They were part of a new holding company and asked to join the league. They were told they could but would have to start in third division. They should be happy they were allowed that given they didn't meet the criteria but we still get this relegation lie from all and sundry

[Newry Hibs]

That's the best explanation I've read - very succinct.

Or succulent?

[Nameless]

Or succulent?
Full of juicy details.

[Smartie]

[QUOTE=ballengeich;4979507A company is a different beast entirely so legally the company now operating a football club at Ibrox is neither the same club as before 2012 nor a different one. [/QUOTE]

Schrodinger's huns?

[CropleyWasGod]

If a quality cuisine Michelin Star restaurant goes broke and an adminstrator sells the business to Fast Food Freddy who opens a burger joint in the same premises using the same ovens and equipment does he get to keep the Michelin Stars ? :greengrin
If they paid for the stars, yup 😎

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[CropleyWasGod]

This is where I stand, they can be the same Rangers and keep the titles for all I care but they were absolutely not relegated or made to start in the third division as a punishment. They were part of a new holding company and asked to join the league. They were told they could but would have to start in third division. They should be happy they were allowed that given they didn't meet the criteria but we still get this relegation lie from all and sundry
Today's judgement has nailed the relegation issue, though.

Until it's appealled, of course. 😁

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[Deansy]

Today's judgement has nailed the relegation issue, though.

Until it's appealled, of course. ��

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Or quite simply ignored - which is pretty much guaranteed the approach our entire 'media' will take.

[northstandhibby]

If they paid for the stars, yup ��

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Would this subtle change of ownership of the stars be considered a metaphysical concept?

Fast Freddy may own the stars having purchased them however he has not earned them with the folk seeing them in his restaurant assuming he had indeed earned them when in reality the prior owner of the restaurant had earned them instead.

Additionally a Judge would not be in a position to rule on the conundrum of oldco/newco without having heard firstly from a number of philosophers who are experts on the subject of metaphysical concepts.

:greengrin

[CropleyWasGod]

Would this subtle change of ownership of the stars be considered a metaphysical concept?

Fast Freddy may own the stars having purchased them however he has not earned them however folk seeing them in his restaurant would assume he earned them when in reality the prior owner of the restaurant had earned them instead.

Additionally a Judge would not be in a position to rule on the conundrum without having heard from a number of philosophers who are experts on the subject of metaphysical concepts.

:greengrin
We prefer to call them "intangibles "

Signed,

Plato, Socrates and Aristotle (now merged with PwC)

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[ancient hibee]

Would this subtle change of ownership of the stars be considered a metaphysical concept?

Fast Freddy may own the stars having purchased them however he has not earned them with the folk seeing them in his restaurant assuming he had indeed earned them when in reality the prior owner of the restaurant had earned them instead.

Additionally a Judge would not be in a position to rule on the conundrum of oldco/newco without having heard firstly from a number of philosophers who are experts on the subject of metaphysical concepts.

:greengrin
Michelin stars can of course be removed if standards drop.

[northstandhibby]

We prefer to call them "intangibles "

Signed,

Plato, Socrates and Aristotle (now merged with PwC)

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:greengrin

Very good.

Edit..... Just to make clear - I hope I'm not coming across as a smart erchie as not meaning to in the slightest, It was a cracking answer you gave, and the Judge's remark of a metaphysical concept does give a bit food for thought. It will run for many years to come.


glory glory

[CropleyWasGod]

Or quite simply ignored - which is pretty much guaranteed the approach our entire 'media' will take.
It's being reported by the BBC and the Record.[emoji14]

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[lapsedhibee]

If a quality cuisine Michelin Star restaurant goes broke and an adminstrator sells the business to Fast Food Freddy who opens a burger joint in the same premises using the same ovens and equipment does he get to keep the Michelin Stars ? :greengrin

The huns, the thes, the G(l)as(gow) Giants, stars, :hmmm:

Astrophysics as well as metaphysics.

[Dashing Bob S]

I really wish somebody would simply outline the possible scenarios for the Huns:

1. Nothing happens

2. They have further legal/financial/footballing penalties

if 2, then 3. What will they be and when will they take effect?

[Deansy]

It's being reported by the BBC and the Record.[emoji14]

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'Rangers were removed from the SPL in 2012 following liquidation and returned to football in the SFL Third Division'


How can you 'return' to something that you had to apply for entry into ?

[jacomo]

'Rangers were removed from the SPL in 2012 following liquidation and returned to football in the SFL Third Division'


How can you 'return' to something that you had to apply for entry into ?


That's not the issue.

They weren't removed by anybody. They left cos they went bust.

For a time there was just Club 12 holding a place while the mess got sorted.

[JackLadd]

I really wish somebody would simply outline the possible scenarios for the Huns:

1. Nothing happens

2. They have further legal/financial/footballing penalties

if 2, then 3. What will they be and when will they take effect?


BDO appeal fails and LNS - that claimed the dos/ebt scheme was legal and no sporting advantage - is rendered null and void and has to be set aside. Of course they (SFA) will try and ignore and sweep under the carpet but I doubt they succeed. The ebt titles/trophies will be stripped.

[majorhibs]

'Rangers were removed from the SPL in 2012 following liquidation and returned to football in the SFL Third Division'


How can you 'return' to something that you had to apply for entry into ?


That's not the issue.

They weren't removed by anybody. They left cos they went bust.

For a time there was just Club 12 holding a place while the mess got sorted.

Therefore what is there now came from nowt, has nowt history apart from when they were illegaly, by SFA etc, allowed into div 3 since 2012, what they were died to write off close couple hundred mill pound debts, & all else is pandering to neanderthal bigots who cannot accept that the team they followed illegally cheated to win, were caught, punished, couldnt afford the fine, LIQUIDATED subsequently after having shafted so many people out of money, they folded, became no more, & what is there is new machinations designed to make shysters like Whyte/Green/Easdales/King etc dough while the "loyal" cough up plenty for brussel sprout?

[Ozyhibby]

https://rangerstaxcase.wordpress.com/2015/11/30/the-never-ending-story/

Great summary from Rangers Tax Case. I see he is back on Twitter this morning.



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[JoppaSands]

Interestingly, this has never been mentioned in the Scottish Press? No journo has so far taken to Twitter to comment yet?
You would think the takeover panel ruling against the chairman of Sevco and ordering him to make a full takeover bid would be news.


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This sort of thing astonishes me. Hardly anything in the news at all. It's amazing the stories that get kept out of the press.

One other story that has never been reported on is our local rivals HMFC injecting £8m in to their club without paying a jot of VAT or Corp tax on it. Astonishing.

[Moulin Yarns]

https://rangerstaxcase.wordpress.com/2015/11/30/the-never-ending-story/

Great summary from Rangers Tax Case. I see he is back on Twitter this morning.



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Sorry Oz, I'm a bit confused, the date on the link is 30/11/2015 nothing about proceedings yesterday.

[CropleyWasGod]

This sort of thing astonishes me. Hardly anything in the news at all. It's amazing the stories that get kept out of the press.

One other story that has never been reported on is our local rivals HMFC injecting £8m in to their club without paying a jot of VAT or Corp tax on it. Astonishing.
Not sure that the HMFC thing is a story. Club gets injection of capital, which of itself is not taxable. If HMRC want to dispute that, they may do, but it won't be in the public domain.

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[Ozyhibby]

Sorry Oz, I'm a bit confused, the date on the link is 30/11/2015 nothing about proceedings yesterday.

Sorry, should have made clear its an old article that just summarises how we got here.


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[Ozyhibby]

This sort of thing astonishes me. Hardly anything in the news at all. It's amazing the stories that get kept out of the press.

One other story that has never been reported on is our local rivals HMFC injecting £8m in to their club without paying a jot of VAT or Corp tax on it. Astonishing.

The money FoH are putting into Hearts is entirely legitimate.
An investigation into some of Romanovs financial dealing would be entirely legitimate though.


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[GreenOnions]

Schrodinger's huns?

I'd like to see that experiment! :hyper

[greenginger]

The money FoH are putting into Hearts is entirely legitimate.
An investigation into some of Romanovs financial dealing would be entirely legitimate though.


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Its legitimate money but they way its been dealt with might cause a problem.

The cash started out as a loan from FoH to HOMFC but in last years accounts the loan has been written off and a sum of £ 3.941 million has been transferred to equity.

I wouldn't have a clue if this was common accounting practice but it does seem strange that FoH appoint the senior tax partner at PWC as their chairman and he automatically gets on the football club board. He seems to have had little or no involvement with FoH previously so I can only assume its his tax skills that were sought.

[Keith_M]

If they paid for the stars, yup 😎

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I hope that's intended as irony, Crops.


Anyway, I see the 'news'papers have finally caught up with what the Internet Bampots were telling them at least five years ago.


#taintedtitles

[CropleyWasGod]

Its legitimate money but they way its been dealt with might cause a problem.

The cash started out as a loan from FoH to HOMFC but in last years accounts the loan has been written off and a sum of £ 3.941 million has been transferred to equity.

I wouldn't have a clue if this was common accounting practice but it does seem strange that FoH appoint the senior tax partner at PWC as their chairman and he automatically gets on the football club board. He seems to have had little or no involvement with FoH previously so I can only assume its his tax skills that were sought.
Debt being converted to equity is not of itself a taxable event.

I'm still with you on the PwC guy though.... my latest theory is that he has been brought in to oversee the POTY awards. 🙄

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[greenginger]

Debt being converted to equity is not of itself a taxable event.

I'm still with you on the PwC guy though.... my latest theory is that he has been brought in to oversee the POTY awards. ��

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They called it " equity " but no new shares were issued as that would dilute Mrs Budge's holding.


Just got the POTY thingy ! *****

[greenginger]

Someone on SFM posted that in summing up of the Supreme Court today QC Thornhill on behalf of BDO and Rangers RIP offered a compromise.

They were willing to drop part of the appeal that would leave the former players liable for tax and NI if the court granted the remainder of the appeal which ties in all other EBT holders EBT trusts.

There's team loyalty for you ! :greengrin

[Is It On....]

BDO appeal fails and LNS - that claimed the dos/ebt scheme was legal and no sporting advantage - is rendered null and void and has to be set aside. Of course they (SFA) will try and ignore and sweep under the carpet but I doubt they succeed. The ebt titles/trophies will be stripped.

The Conservative Party got fined £110k today for gaining an unfair advantage in the 2015 election through the use of £70k undeclared expenses. OldCo had £m's of EBT side contracts and LNS found the unfair advantage not proven. 🙄 If only the SFA had fined them on the same 1.55 ratio!!

[Bostonhibby]

That's not the issue.

They weren't removed by anybody. They left cos they went bust.

For a time there was just Club 12 holding a place while the mess got sorted.
Indeed. They voluntarily liquidated that business quite deliberately instead of paying their debts and carrying on as the old club.

They don't do walking away though.[emoji6]

[Alan62]

Someone on SFM posted that in summing up of the Supreme Court today QC Thornhill on behalf of BDO and Rangers RIP offered a compromise.

They were willing to drop part of the appeal that would leave the former players liable for tax and NI if the court granted the remainder of the appeal which ties in all other EBT holders EBT trusts.

There's team loyalty for you ! :greengrin

Have you got a link there, Greenginger?

[cabbageandribs1875]

The Conservative Party got fined £70k today for gaining an unfair advantage in the 2015 election through the use of £110k undeclared expenses. OldCo had £m's of EBT side contracts and LNS found the unfair advantage not proven. �� If only the SFA had fined them on the same 1.55 ratio!!


it's the other way around mate :greengrin

[greenginger]

Have you got a link there, Greenginger?


No, I read it on Kerrydalestreet Sevco thread but there was no link and I can't find my way around the SFM site

[Is It On....]

Have you got a link there, Greenginger?

Biggest beneficiary I seem to remember was someone called D Murray.

[Is It On....]

it's the other way around mate :greengrin

What a numpty...it's been a long day 🤔

[Alan62]

No, I read it on Kerrydalestreet Sevco thread but there was no link and I can't find my way around the SFM site

Me either. That's one badly organised site.

[Ozyhibby]

Me either. That's one badly organised site.

It really is terrible. I've stopped going there even though it's a subject that interests me.


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[Jack]

Sfm?

[greenginger]

Sfm?


Scottish Football Monitor, Blog site .


Someone else ( Easy jambo ) has commented on the post and says it is wrong.


https://www.sfm.scot/small-price-to-pay/?cid=155682


Thornhill's admission to the players paying tax and NI would only be acceptable if the loans were to be considered Benefits in Kind and the tax due would only be on any interest due on " loans " the players received from their Trusts.

[Deansy]

Courtesy of the 'Bounce' -

http://www.gabelletax.com/blog/2017/03/16/full-time-rangers-in-the-supreme-court/

'It is, as always, very difficult to make an assessment of the mood of the court, but the impression given is that the court was unwilling to entertain HMRC’s argument that the employee had immediate access to the EBT assets and was less than wholly convinced that their arguments on diverted earnings were correct'

Opinions from the legal/business-minded of the Hibees on here, please ?. Does this say the Hun will win ?

[CropleyWasGod]

Courtesy of the 'Bounce' -

http://www.gabelletax.com/blog/2017/03/16/full-time-rangers-in-the-supreme-court/

'It is, as always, very difficult to make an assessment of the mood of the court, but the impression given is that the court was unwilling to entertain HMRC’s argument that the employee had immediate access to the EBT assets and was less than wholly convinced that their arguments on diverted earnings were correct'

Opinions from the legal/business-minded of the Hibees on here, please ?. Does this say the Hun will win ?
Already discussed on the other thread.

It's one person's reading, and as he says, civil cases are difficult to guess.

There's only one opinion that counts, and it will be a month or so before we hear that.


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[Deansy]

Already discussed on the other thread.

It's one person's reading, and as he says, civil cases are difficult to guess.

There's only one opinion that counts, and it will be a month or so before we hear that.


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Ooopd, my bad - sorry !!

But ta for replying, tho :wink:

[CropleyWasGod]

Ooopd, my bad - sorry !!

But ta for replying, tho :wink:
No apologies needed. Oldco old admin....Newco new admin. It's not easy to keep up [emoji14]

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[Alan62]

Already discussed on the other thread.

It's one person's reading, and as he says, civil cases are difficult to guess.

There's only one opinion that counts, and it will be a month or so before we hear that.


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There's another thread? :confused:

[CropleyWasGod]

There's another thread? :confused:
Yeahhhhh...

It's about the potential for the Newco going into administration. I suppose they're separate since some folk think they're different clubs 😈😈😈

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[Alan62]

Yeahhhhh...

It's about the potential for the Newco going into administration. I suppose they're separate since some folk think they're different clubs 😈😈😈

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Where is that thread?

[CropleyWasGod]

Where is that thread?
Ah sorry....it's in the PM forum.

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[Moulin Yarns]

Ah sorry....it's in the PM forum.

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One of the reasons it is worth paying the subscription.

[Spike Mandela]

Is Dave King's Sevco time up?

http://www.philmacgiollabhain.ie/a-tense-conclave-discusses-dave/

[Ozyhibby]

One of the reasons it is worth paying the subscription.

There are lots of reason to subscribe but that thread doesn't have any info not available here.


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[jacomo]

Is Dave King's Sevco time up?

http://www.philmacgiollabhain.ie/a-tense-conclave-discusses-dave/


I've no idea.

Much like Phil Mac really.

It's easy enough to speculate that certain Sevco board members would want him out.

Having the announcement of their new manager overshadowed by King's typically sour rant defending his shadowy business dealings would be pretty galling.

[greenginger]

More fall outs among the People !


http://www.andymuirhead.co.uk/craig-houstons-blazer-chasing-led-three-club-1872-resignations/

[Deansy]

More fall outs among the People !


http://www.andymuirhead.co.uk/craig-houstons-blazer-chasing-led-three-club-1872-resignations/

'However, all 3 of us believe that by resigning in such circumstances we were reflecting the standards, values and principles which saw us elected.”

'standards, values and principles' -and it's about RANGERS ??? :faf:

[Sergey]

More fall outs among the People !


http://www.andymuirhead.co.uk/craig-houstons-blazer-chasing-led-three-club-1872-resignations/

That is good reading and the wheels are coming off...again.

I know first hand that there are other rumblings that King can't avoid - not sound bites by Phil or James - from a horse snacking on the nosebag.

Huns - RIP

[greenlex]

'However, all 3 of us believe that by resigning in such circumstances we were reflecting the standards, values and principles which saw us elected.”

'standards, values and principles' -and it's about RANGERS ??? :faf:
They have them, They are just not particularly great.

[northstandhibby]

More fall outs among the People !


http://www.andymuirhead.co.uk/craig-houstons-blazer-chasing-led-three-club-1872-resignations/

Appears as if there's all sorts of behind the scenes machiavellian events being played out. Wouldn't surprise me in the slightest if an admin event is on the cards sooner rather than later. I don't believe for a second King will pony up on the ordered share offer.

glory glory

[silverhibee]

GERS QC BUST Footie lawyer who defended Rangers’ EBT scheme goes bankrupt over HRMC debt days before Ibrox tax case
Andrew Thornhill represented he club in 2012
EXCLUSIVE
By Darren Hamilton
19th March 2017, 9:13 pm

THE barrister defending Rangers’ EBT scheme went bankrupt over tax debts days before the club’s case called.

Andrew Thornhill QC was declared bust after a petition by HMRC.

The following week the former Gers tax lawyer, 73, appeared at the Supreme Court over the Ibrox oldco’s use of employee benefit trusts.

A source said yesterday: “It is quite ironic that the man seen as being behind the whole EBT scheme has been made bankrupt by HMRC.

“He will have been allowed to carry on working, provided he notifies the Bar Standards Board. But this news will surprise Rangers fans and raise a lot of questions.”

Thornhill successfully represented the oldco club in their 2012 £75million battle with the taxman.

A hearing ruled they owed less than the amount originally demanded, but that decision was overturned at the Court of Session in 2015.

Liquidators BDO — represented by Mr Thornhill — are challenging the decision.

The case called at the Supreme Court in London last week and five judges are considering the verdict.

If the decision is upheld, the bust Ibrox firm could owe up to £95million.

The bankruptcy order against Mr Thornhill was made on March 8. The Bar Standards Board said: “It is not a bar to practising.”

[Bostonhibby]

GERS QC BUST Footie lawyer who defended Rangers’ EBT scheme goes bankrupt over HRMC debt days before Ibrox tax case
Andrew Thornhill represented he club in 2012
EXCLUSIVE
By Darren Hamilton
19th March 2017, 9:13 pm

THE barrister defending Rangers’ EBT scheme went bankrupt over tax debts days before the club’s case called.

Andrew Thornhill QC was declared bust after a petition by HMRC.

The following week the former Gers tax lawyer, 73, appeared at the Supreme Court over the Ibrox oldco’s use of employee benefit trusts.

A source said yesterday: “It is quite ironic that the man seen as being behind the whole EBT scheme has been made bankrupt by HMRC.

“He will have been allowed to carry on working, provided he notifies the Bar Standards Board. But this news will surprise Rangers fans and raise a lot of questions.”

Thornhill successfully represented the oldco club in their 2012 £75million battle with the taxman.

A hearing ruled they owed less than the amount originally demanded, but that decision was overturned at the Court of Session in 2015.

Liquidators BDO — represented by Mr Thornhill — are challenging the decision.

The case called at the Supreme Court in London last week and five judges are considering the verdict.

If the decision is upheld, the bust Ibrox firm could owe up to £95million.

The bankruptcy order against Mr Thornhill was made on March 8. The Bar Standards Board said: “It is not a bar to practising.”
If he keeps practicing eventually he might get good at it?

I like the idea that the the rangers / the now defunct Glasgow rangers (maybe- depending on which court case it is) can't do any better than being represented by a flush that sounds as busted as their own.[emoji1]

[Fuzzywuzzy]

Club 1872 members jumping ship

http://forum.rangersmedia.co.uk/topic/305595-club-1872-statement-of-resignation/?page=1

[Moulin Yarns]

RANGERS International Football Club PLC unaudited trading results for the six months to 31 December 2016.

https://rangers.co.uk/news/headlines/financial-review-2/

Any comment from our financial advisors? :wink:

[CropleyWasGod]

RANGERS International Football Club PLC unaudited trading results for the six months to 31 December 2016.

https://rangers.co.uk/news/headlines/financial-review-2/

Any comment from our financial advisors? :wink:


Initial thoughts.

1. they're not audited.
2. they made a loss, not a profit as it's being spun.
3. There is no Balance Sheet. It's impossible to make any judgement on their position without that.

[grunt]

2. they made a loss, not a profit as it's being spun.
LoL. Apart from that, the reporting is accurate!

[Iain G]

Initial thoughts.

1. they're not audited.
2. they made a loss, not a profit as it's being spun.
3. There is no Balance Sheet. It's impossible to make any judgement on their position without that.

The one page summary sheet states a loss of £238k, which is being spun as making a profit? :confused:

Few comments about "return" and "being back" in the top league to really incite the new club / old club debate :greengrin

[CropleyWasGod]

The one page summary sheet states a loss of £238k, which is being spun as making a profit? :confused:

Few comments about "return" and "being back" in the top league to really incite the new club / old club debate :greengrin

TBF, it's an "operating profit", which is (in layman's terms) "normal trading". However, there were other things which turned that into an actual loss (in accountant's terms, a "****-ing loss :greengrin).

[Iain G]

TBF, it's an "operating profit", which is (in layman's terms) "normal trading". However, there were other things which turned that into an actual loss (in accountant's terms, a "****-ing loss :greengrin).

"Whats that you said Skippy?"

"The new Rangers are up to their old tricks in misrepresenting their financial position?" :wink:

[grunt]

TBF, it's an "operating profit", which is (in layman's terms) "normal trading". However, there were other things which turned that into an actual loss (in accountant's terms, a "****-ing loss :greengrin).Wonder what the £451k "other charges" are ...

[Bostonhibby]

LoL. Apart from that, the reporting is accurate!
[emoji1] with all that cash coming in and next to no cash being spent on signing over the hill guys who are topping up their pension and never weres and never will be's from low level English clubs the question has to be where does all the money go?

[Ozyhibby]

Wonder what the £451k "other charges" are ...

Lawyers?[emoji3]


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[Ozyhibby]

If a football club is not in profit from July-Dec then there is trouble ahead surely? That's when all the income comes in from season tickets etc.


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[CropleyWasGod]

If a football club is not in profit from July-Dec then there is trouble ahead surely? That's when all the income comes in from season tickets etc.


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The ST money should be spread across the season in accounting terms. Whether they have done that here? That's impossible to tell.

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[Moulin Yarns]

The ST money should be spread across the season in accounting terms. Whether they have done that here? That's impossible to tell.

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Good grief man, what are we paying you for? :greengrin

[grunt]

Good grief man, what are we paying you for? :greengrin:agree:

[Hibbyboy]

Wonder what the £451k "other charges" are ...

Bartons payoff lol

[Alan62]

Good grief man, what are we paying you for? :greengrin

Haha! Just laughed out loud at this!

[Hibbyboy]

If a football club is not in profit from July-Dec then there is trouble ahead surely? That's when all the income comes in from season tickets etc.


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They have had a loss every season since 2012 at this stage.

I doubt there is trouble ahead unfortunately.

[Alan62]

I think there are about 5 references to being 'back' in the top flight in that statement. Some emotive language - 'bedeviled' - going on too. Clearly they're keen to keep the continuation myth going.

While the accounts are skimpy and unaudited, I'm sure the mainstream press will be happy to report the 'getting back on track' narrative.

[greenginger]

RIFC interims last year, Revenue £ 11.035 m and operating expenses £ 11.397 m , are not far from 50% of the totals in their full end of year accounts which showed an operating loss of £ 2.5 million.

So, if the figures are accurate why do RIFC keep requiring directors loans to keep the lights on ? :confused:

[Ozyhibby]

They have had a loss every season since 2012 at this stage.

I doubt there is trouble ahead unfortunately.

It will be interesting to see how they get past FFP regs to play in Europe this summer?



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[Hibbyboy]

It will be interesting to see how they get past FFP regs to play in Europe this summer?



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Yeah, depends if the loans they have been receiving are considered debt or not. Are they not getting turned into equity or shares so it's not really a loan debt? Who knows what the **** is going on over there.

[CropleyWasGod]

Yeah, depends if the loans they have been receiving are considered debt or not. Are they not getting turned into equity or shares so it's not really a loan debt? Who knows what the **** is going on over there.

The motion to approve that was defeated, no?

[CropleyWasGod]

RIFC interims last year, Revenue £ 11.035 m and operating expenses £ 11.397 m , are not far from 50% of the totals in their full end of year accounts which showed an operating loss of £ 2.5 million.

So, if the figures are accurate why do RIFC keep requiring directors loans to keep the lights on ? :confused:

They say they won't need any for the rest of this season.

They said they made a profit, though. :greengrin

[CropleyWasGod]

Good grief man, what are we paying you for? :greengrin

We're still negotiating that.

It's an EBT I want, else I'm off to the Bounce.

[Jack]

We're still negotiating that.

It's an EBT I want, else I'm off to the Bounce.

You'd be more than welcome, all good Hibbes are, although the pays probably worse than here.

I wonder how much auditors fees would have been? Probably would have turned said profit into a loss ... in more ways than one!

[Hibbyboy]

The motion to approve that was defeated, no?

Are you talking about the resolution 11 / 12 thing? Was that not to do with anyone buying shares?

As far as I am aware all loans that have been giving to them by directors / rich fans this season and last are interest free will be turned into shares.

I just hear tits and tats from folk at work. Seems a bit fishy to me but all business is nowadays.

As long as Ashley sticks around they can't access their main income stream at least so they'll be hamstrung there for a while at least.

[Ozyhibby]

Are you talking about the resolution 11 / 12 thing? Was that not to do with anyone buying shares?

As far as I am aware all loans that have been giving to them by directors / rich fans this season and last are interest free will be turned into shares.

I just hear tits and tats from folk at work. Seems a bit fishy to me but all business is nowadays.

As long as Ashley sticks around they can't access their main income stream at least so they'll be hamstrung there for a while at least.

No, they can't turn them into shares without offering the same deal to all shareholders. They can write the loans off though but I doubt they will do that.
Ashley controlling retail probably only costs them about £4/5m a year. Not enough to make much of a dent in Celtics advantage.
They had revenue of £16m for the 6 months to Dec. Over the same 6 months Celtics revenue was £61m.


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[Is It On....]

The motion to approve that was defeated, no?

Debt (is it secured?) for equity swap when admin 2 happens?