Generic Sevco / Rangers meltdown thread

[HoboHarry]

They are following their usual modus operandi - tap up their target, leak stories to the media, try to make their current job untenable. Then make a move with a cheap offer.
Aye but Stewart Milne is an Aberdonian - tighter that a ducks erchie and that's waterproof......... :greengrin

[CropleyWasGod]

I had thought that in the event of a club going to the wall, that all football debts would be covered by the SFA?

Football debts are paid out of the liquidation, so it would have been up to Michael Ball to make a claim to BDO.

If he has a case, it's BDO that should be in his sights, not the SFA. My suspicion is that BDO have rejected the claim

[HoboHarry]

Football debts are paid out of the liquidation, so it would have been up to Michael Ball to make a claim to BDO.

If he has a case, it's BDO that should be in his sights, not the SFA. My suspicion is that BDO have rejected the claim
What grounds could BDO use to reject the claim? I'm struggling to think how they could.....

[Ozyhibby]

I had thought that in the event of a club going to the wall, that all football debts would be covered by the SFA?

This is a fraud case where they told Everton and Ball they received a lot less than they did. Everton and Ball were due a percentage.


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[HoboHarry]

This is a fraud case where they told Everton and Ball they received a lot less than they did. Everton and Ball were due a percentage.


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Ah, ok. Why doesn't take it to court then? Why would he be waiting for an explanation from the SFA?

[CropleyWasGod]

What grounds could BDO use to reject the claim? I'm struggling to think how they could.....

Liquidators will reject a claim if there's not sufficient evidence to back it up. In a normal trading situation, that would be the creditor showing invoices and statements; the liquidator would check the company's records to see if the money was actually due, and whether it had been paid.

In Ball's case, he would have to show the contract (or the side-letter :greengrin) which shows the fee was due. BDO might come back and say "it was paid on...", or "the contract isn't valid" or. "you were only due £x if you played y games. You only played z games, so you're due hee-haw else".

I'd be very surprised if he (or his solicitor) hasn't already had this conversation with BDO.

[Ozyhibby]

Football debts are paid out of the liquidation, so it would have been up to Michael Ball to make a claim to BDO.

If he has a case, it's BDO that should be in his sights, not the SFA. My suspicion is that BDO have rejected the claim

Sevco agreed to cover all football debts as part of the 5 way agreement?


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[CropleyWasGod]

Sevco agreed to cover all football debts as part of the 5 way agreement?


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Yes, but it seems that this is not seen by anyone (other than MB and Everton) as a football debt. If they haven't made the case for that, it has to be dealt with by the liquidators.

[Ozyhibby]

Yes, but it seems that this is not seen by anyone (other than MB and Everton) as a football debt. If they haven't made the case for that, it has to be dealt with by the liquidators.

If they make the case for it now though and win then surely it can’t be seen as anything other than football debt?
They can’t have made the case before now as the evidence wasn’t available.


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[CropleyWasGod]

If they make the case for it now though and win then surely it can’t be seen as anything other than football debt?
They can’t have made the case before now as the evidence wasn’t available.


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Yes, but not to the SFA, which is where we came in. :greengrin

MB is shouting up the wrong tree.

[Ozyhibby]

http://celticunderground.net/how-rfc-evaded-paying-michael-ball-and-everton/
A bit more info here.


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[Geo_1875]

I'd forgotten all about Michael Ball. I wondered why a singer was suing The Rangers.

[CropleyWasGod]

http://celticunderground.net/how-rfc-evaded-paying-michael-ball-and-everton/
A bit more info here.


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Thanks for that.

If there's fraud, which it seems to be on the face of it, it's the Oldco that committed it. Further, there may be a case against individuals.

[Baldy Foghorn]

I'd forgotten all about Michael Ball. I wondered why a singer was suing The Rangers.

Because "Love, love changes everything".....

[Ozyhibby]

Thanks for that.

If there's fraud, which it seems to be on the face of it, it's the Oldco that committed it. Further, there may be a case against individuals.

Absolutely it’s the old co. It’s a shame nobody has suggested a full enquiry into everything that went on. [emoji6]


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[Hibernia&Alba]

Yet another statement from the Rangers; this time just to let the world know they haven't started interviews for the manager's job yet, but will get around to it at some point.




Friday, 10 November 2017, 17:30
by Rangers Football Club

20529
THE Club confirms that since the departure of Pedro Caixinha it has received numerous applications for the now vacant position and is anticipating further applications by the end of next week.


The Club will then consider all viable options available to it. At this time the Club has not interviewed any candidate and will take its time to ensure that the best possible decision is made.

[Ozyhibby]

Yet another statement from the Rangers; this time just to let the world know they haven't started interviews for the manager's job yet, but will get around to it at some point.




Friday, 10 November 2017, 17:30
by Rangers Football Club

20529
THE Club confirms that since the departure of Pedro Caixinha it has received numerous applications for the now vacant position and is anticipating further applications by the end of next week.


The Club will then consider all viable options available to it. At this time the Club has not interviewed any candidate and will take its time to ensure that the best possible decision is made.

If I was a gambler I would be putting money on Murty.


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[kaimendhibs]

Now that NI are looking likely to go out of the WC playoffs, do we reckon Ze Huns will go after Michael O’Neil?My guess

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[ACLeith]

If I was a gambler I would be putting money on Murty.


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That's what I think as well. he has done OK for them since he took charge, which gives them the get out of jail card to the end of the season. Save them admitting they can't actually afford anyone else, just like our neighbours. Quite often the caretaker does OK, is appointed and then it all falls apart - here's hoping :agree:

[Deansy]

There is certain to be consequences if the expectation of enforcement to comply materialises. I think CropleyWasGod's suggestion the gasl would depart the scene may be a likely outcome due to the cold shoulder aspect among other things such as being reluctant to producing the amounts of money involved or he may not have the money to hand.

Not being an expert on company law I'm not sure what would then take place if the gasl fails to comply and departs the scene. It may be a new broom so to speak is sought to clean up the mess the gasl has left behind or even an administration event to cleanse the stink before the city or financial institutions would be able to become involved again. I don't know but its going to be very interesting indeed to see what does occur post enforcement to comply if issued which it should be in my opinion.

GGTTH

I don't know if a 'New broom' would make any difference to the city/financial-institutions. Since going into administration, the Hun have had several new owners, pretty much all of the 'Dodgy' category - how many of them have resulted in legal-action - several ??. Basically, they've shown the type of 'Businessman' that they attract to Ibrokes and I think (hope) this will go against them for a long, long time !


Would certainly think so.

Its also creating case law as the Takeover Panel have never before as far as I'm aware sought a court of law to enforce its articles. The gasl and his accomplices attempted to virtually openly be dismissive of normal business practice rules. After being caught out doing so the gasl has now pleaded poverty and/or having no control over finances and is perversely in my opinion seeking the COS to overlook the breach of takeover panel rules as a result of his pleading poverty/no control over financial affairs.

I'm really looking forward to seeing what happens here. If the court does what it should do and orders the gasl to offer all shareholders 20p for each of their shares the fall out could be huge or not but I'm really looking forward to seeing what happens here should the COS reach the correct judgment.

GGTTH

That's the big 'IF' - after the LNS farce, I've little faith in the Scottish Courts serving-up justice when it comes to those **** !

[Tornadoes70]

I don't know if a 'New broom' would make any difference to the city/financial-institutions. Since going into administration, the Hun have had several new owners, pretty much all of the 'Dodgy' category - how many of them have resulted in legal-action - several ??. Basically, they've shown the type of 'Businessman' that they attract to Ibrokes and I think (hope) this will go against them for a long, long time !



That's the big 'IF' - after the LNS farce, I've little faith in the Scottish Courts serving-up justice when it comes to those **** !

Can't disagree with any of this. They do seem to attract the worst type who verge on or are very close to being con-men using whatever means possible.

Its an an open and shut case in reality and I'm amazed at the length of time is being taken to reach the very simple correct decision of ordering the gasl to comply with the Takeover Panels verdict. There's not much for Lord Bannatyne to consider. The gasl breached the Takeover Panels rules and it should have been an easy and relatively quick decision for Lord Bannatyne to concur with the Takeover Panel. I can't how see how Lord Bannatyne could come to any other judgement than make an order for the gasl to comply. If not it will certainly raise questions over impartiality and open the door for other gasl's to dismiss the Takeover Panel as it would send out the signal that the it cannot enforce its own rules. In my opinion.

GGTTH

[jacomo]

Yet another statement from the Rangers; this time just to let the world know they haven't started interviews for the manager's job yet, but will get around to it at some point.




Friday, 10 November 2017, 17:30
by Rangers Football Club

20529
THE Club confirms that since the departure of Pedro Caixinha it has received numerous applications for the now vacant position and is anticipating further applications by the end of next week.


The Club will then consider all viable options available to it. At this time the Club has not interviewed any candidate and will take its time to ensure that the best possible decision is made.


I applied.

I told them that we are the people, and that I know more about Scottish football than Pedro. I also have a watertight off shore arrangement, so there's a saving to be made there.

Was wondering why I hadn't got an interview yet, so today's update is reassuring.

[Bostonhibby]

I applied.

I told them that we are the people, and that I know more about Scottish football than Pedro. I also have a watertight off shore arrangement, so there's a saving to be made there.

Was wondering why I hadn't got an interview yet, so today's update is reassuring.I know for a fact that a Mr Mason Boing applied but as they seem to have completely ignored his return to our traditional values agenda I'm guessing they're going to continue with the modernisation and go for another Kafflik so they have someone to blame for the next mess in 3 months time.

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[Captain Trips]

Frank Abagnale has applied has the perfect CV for them.

[Joe6-2]

Yet another statement from the Rangers; this time just to let the world know they haven't started interviews for the manager's job yet, but will get around to it at some point.




Friday, 10 November 2017, 17:30
by Rangers Football Club

20529
THE Club confirms that since the departure of Pedro Caixinha it has received numerous applications for the now vacant position and is anticipating further applications by the end of next week.


The Club will then consider all viable options available to it. At this time the Club has not interviewed any candidate and will take its time to ensure that the best possible decision is made.

Maybe no one actually wants the job?

[Deansy]

Yet another statement from the Rangers; this time just to let the world know they haven't started interviews for the manager's job yet, but will get around to it at some point.




Friday, 10 November 2017, 17:30
by Rangers Football Club

20529
THE Club confirms that since the departure of Pedro Caixinha it has received numerous applications for the now vacant position and is anticipating further applications by the end of next week.


The Club will then consider all viable options available to it. At this time the Club has not interviewed any candidate and will take its time to ensure that the best possible decision is made.


They must reckon their usual tactic of dropping the name of the guy they want to their media-chums has worked and softened-up Aberdeen enough to the extent they'll let McInnes go for free - not too far-fetched an idea as Milne has history for bending to them !

[GreenLake]

Yet another statement from the Rangers; this time just to let the world know they haven't started interviews for the manager's job yet, but will get around to it at some point.




Friday, 10 November 2017, 17:30
by Rangers Football Club

20529
THE Club confirms that since the departure of Pedro Caixinha it has received numerous applications for the now vacant position and is anticipating further applications by the end of next week.


The Club will then consider all viable options available to it. At this time the Club has not interviewed any candidate and will take its time to ensure that the best possible decision is made.


The Club won't foot the bill.

[Hibernia&Alba]

The Club won't foot the bill.

Can't foot the bill for McInnes is my guess.

[huggie1875]

Yet another statement from the Rangers; this time just to let the world know they haven't started interviews for the manager's job yet, but will get around to it at some point.




Friday, 10 November 2017, 17:30
by Rangers Football Club

20529
THE Club confirms that since the departure of Pedro Caixinha it has received numerous applications for the now vacant position and is anticipating further applications by the end of next week.


The Club will then consider all viable options available to it. At this time the Club has not interviewed any candidate and will take its time to ensure that the best possible decision is made.


maybe it will be like hearts and realise the answer is right under their noses and bring back coisty
:greengrin

[Deansy]

KILMARNOCK STAR SAYS HE'D NEVER SIGN FOR RANGERS 'IN A MILLION YEARS' !

http://www.scotsman.com/sport/football/teams/rangers/kilmarnock-star-says-he-d-never-sign-for-rangers-in-a-million-years-1-4611840

A nothing story really but I just had to post that headline - IT'S SOOOOOOOOOOOOOOOOOOOOOOOOOO BEAUTIFUL !

[Tornadoes70]

There was an unopposed motion granted on Monday in the case The Rangers Football Club Ltd v Charles Green and co. I'm assuming this is the case of negligence raised over the negotiating of deals with Mike Ashley among other things.

Can't be too long now until Lord Bannatyne issues his interlocutor. Its been over four weeks now since the Takeover Panel case was heard. This isn't a particularly complex case that would warrant months of delay in considering complex legal arguments. Should be issued in the next couple of weeks I'd imagine. It should go against the gasl and I'm looking forward to it.

GGTTH

[greenginger]

Interesting case starting today.

David Whitehouse suing Police Scotland , Lord Advocate's office , etc for £ 9 million.

https://johnjamessite.com/2017/11/14/copfs-police-scotland-takedown/

Slight change though, someone has just notice the appointed judge, Sarah Wolffe is the wife of the Lord Advocate James Wolffe.

New judge required.
Talk about a Key Stone Cops of police and justice system. :confused:

[Tornadoes70]

Interesting case starting today.

David Whitehouse suing Police Scotland , Lord Advocate's office , etc for £ 9 million.

https://johnjamessite.com/2017/11/14/copfs-police-scotland-takedown/

Slight change though, someone has just notice the appointed judge, Sarah Wolffe is the wife of the Lord Advocate James Wolffe.

New judge required.
Talk about a Key Stone Cops of police and justice system. :confused:

If JJ is is accurate in his summation of what occurred then I'd imagine there will be payment agreed upon before any real detail emerges of the background to Caveman Cop wearing an oversize pair of brogues thrashing around and effectively destroying the case among other things :greengrin.

GGTTH

[CropleyWasGod]

Interesting case starting today.

David Whitehouse suing Police Scotland , Lord Advocate's office , etc for £ 9 million.

https://johnjamessite.com/2017/11/14/copfs-police-scotland-takedown/

Slight change though, someone has just notice the appointed judge, Sarah Wolffe is the wife of the Lord Advocate James Wolffe.

New judge required.
Talk about a Key Stone Cops of police and justice system. :confused:

The £9m might be a good start in paying BDO, if their case against D&P is successful :greengrin

[greenginger]

The £9m might be a good start in paying BDO, if their case against D&P is successful :greengrin

I'm lost, whose got a case against Duff & Phelps ?

[Ozyhibby]

https://www.change.org/p/ceo-hibernian-football-club-release-information-related-to-rangers-football-club-2012/psf/promote_or_share?share=false

Someone on the Bounce has set up a petition.

Thread here
http://www.hibeesbounce.com/showthread.php?124132-Information-related-to-Rangers-must-be-divulged



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[CropleyWasGod]

I'm lost, whose got a case against Duff & Phelps ?BDO are taking D&P to Court over their handling of the administration. Suing them for £28m.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-38896812

The details haven't been published, but I'd presume it's to get D&P to explain why they sold the assets and business of RFC for only £5.5m.


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[greenginger]

BDO are taking D&P to Court over their handling of the administration. Suing them for £28m.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-38896812

The details haven't been published, but I'd presume it's to get D&P to explain why they sold the assets and business of RFC for only £5.5m.


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Right , thanks.

Suppose they can give an example of BDO selling HOMFC and all their assets for £ 2.5 million. :greengrin

[JeMeSouviens]

http://www.rangersfansfightingfund.uk/


On the 14th of February 2012 our proud football club found themselves in a dire situation, we had entered the dreaded administration feared by all connected to Rangers...

In the following days it became clear that our 140 year history was at serious risk via the potential of liquidation....




Without immediate help the club were at a far higher risk of going into liquidation. Our one and only goal was the ongoing survival of our beloved club ensuring the 140 year timeline is maintained.

A flashback to simpler times before "companies that owned clubs" and when liquidations couldn't be survived. :rolleyes: The good old days. :wink:

[Ozyhibby]

Still no hint of a manager. Just how skint are they? [emoji23]


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[CropleyWasGod]

Still no hint of a manager. Just how skint are they? [emoji23]


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"... as poor as a church mouse, that's just had an enormous tax bill on the very day his wife ran off with another mouse, taking all the cheese."

[ballengeich]

Still no hint of a manager. Just how skint are they? [emoji23]


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They possibly won't know that themselves until the implications of whatever the court rules re the Takeover Panel become clear.

[Ozyhibby]

Still no hint of a manager. Anyone else get the feeling they are running on fumes just now?
They need a loan from King this month just to keep the lights on. Will he be able to provide it if C of Sessions rule in favour of the takeover panel.
I don’t know why but I feel we are close to something big happening.


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[Geo_1875]

Still no hint of a manager. Anyone else get the feeling they are running on fumes just now?
They need a loan from King this month just to keep the lights on. Will he be able to provide it if C of Sessions rule in favour of the takeover panel.
I don’t know why but I feel we are close to something big happening.


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They really do look like Woolworths did in the run up to going bust. Clueless staff and nothing worth selling.

[jacomo]

Still no hint of a manager. Anyone else get the feeling they are running on fumes just now?
They need a loan from King this month just to keep the lights on. Will he be able to provide it if C of Sessions rule in favour of the takeover panel.
I don’t know why but I feel we are close to something big happening.


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With Hearts now back at Tiny park, new developments in this story would be timely.

:wink:

[Hibs Class]

Still no hint of a manager. Anyone else get the feeling they are running on fumes just now?
They need a loan from King this month just to keep the lights on. Will he be able to provide it if C of Sessions rule in favour of the takeover panel.
I don’t know why but I feel we are close to something big happening.


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Any idea when the CoS ruling is due?

[greenginger]

With Hearts now back at Tiny park, new developments in this story would be timely.

:wink:



https://johnjamessite.com/2017/11/21/true-blue-treachery-an-exclusive-excerpt-from-craig-whytes-new-book/


Maybe a Craig White Christmas Annual would be a good stocking filler. :greengrin

[Ozyhibby]

Any idea when the CoS ruling is due?

No idea. Seems like a clear cut case to me but predicting these things appears to be a mugs game.


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[Hibernia&Alba]

Any idea when the CoS ruling is due?

Surely the Church of Scotland would give The Rangers a clean bill of health? :wink:

[jacomo]

https://johnjamessite.com/2017/11/21/true-blue-treachery-an-exclusive-excerpt-from-craig-whytes-new-book/


Maybe a Craig White Christmas Annual would be a good stocking filler. :greengrin


This story just gets stranger and stranger.

[ancient hibee]

Still no hint of a manager. Anyone else get the feeling they are running on fumes just now?
They need a loan from King this month just to keep the lights on. Will he be able to provide it if C of Sessions rule in favour of the takeover panel.
I don’t know why but I feel we are close to something big happening.


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Me too.Obviously the season ticket money is all used and commercial income and pay at the gate doesn’t look at current outgoings.McLeish for manager?

[HoboHarry]

This story just gets stranger and stranger.
If (and it's a big if) there is any truth in a Scottish club throwing a match, then I hope it's Hearts. I would give up all of Christmas pressies for that to be so..... :greengrin

[snooky]

https://johnjamessite.com/2017/11/21/true-blue-treachery-an-exclusive-excerpt-from-craig-whytes-new-book/


Maybe a Craig White Christmas Annual would be a good stocking filler. :greengrin

He's pure as the driven slush.

[O'Rourke3]

https://johnjamessite.com/2017/11/21/true-blue-treachery-an-exclusive-excerpt-from-craig-whytes-new-book/


Maybe a Craig White Christmas Annual would be a good stocking filler. :greengrinCraig Harvey Oswald - Patsy. A big boy did it and ran away.....

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[Stonewall]

[QUOTE=greenginger;5226010]https://johnjamessite.com/2017/11/21/true-blue-treachery-an-exclusive-excerpt-from-craig-whytes-new-book/


Maybe a Craig White Christmas Annual would be a good stocking filler. :greengrin[/QUOTE

Sign me up.

Not sure how much to believe but will read on with interest.

[Eyrie]

If (and it's a big if) there is any truth in a Scottish club throwing a match, then I hope it's Hearts. I would give up all of Christmas pressies for that to be so..... :greengrin

Are you suggesting that Craig Whyte has a spare £2.5m to donate? :wink:

[Ozyhibby]

https://www.thescottishsun.co.uk/news/1871171/craig-whyte-leaked-book-corruption-sex-political-plots-rangers/


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[Deansy]

https://www.thescottishsun.co.uk/news/1871171/craig-whyte-leaked-book-corruption-sex-political-plots-rangers/


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Some of the claims Whyte's making -to sell his book/get a bigger advance etc, etc ?? - who knows but I wouldn't fancy being a member of his security-team right now !.

[lapsedhibee]

https://www.thescottishsun.co.uk/news/1871171/craig-whyte-leaked-book-corruption-sex-political-plots-rangers/


The former Rangers owner, 46, is to allege a top flight Scots club offered to throw a match for cash.

The book promises to lift the lid on “one player whose performances dipped after he picked up a sexually transmitted disease after playing away from home in more ways than one”.

And another “star” on almost £20,000 a week allegedly saw sheriff officers turn up at Ibrox to seize his cars.

As details of True Blue Treachery were revealed, a source said: “He’s outraged.”

Ex-Gers supremo Sir David Murray is accused of being “desperately keen” to progress a deal to sell Whyte the club.

Craig Whyte paid just £1 to buy the Ibrox club

His memoirs will also claim he was offered a peerage by a political party in exchange for £250,000.

And he’ll make accusations against money men at Gers administrators Duff & Phelps.

A source said: “There are a few sensational stories planned. It’s not been written yet but the plan was sent to three publishers three or four weeks ago and the plan was to publish in spring.”

A 35-page book pitch was sent to publishers Trinity, Biteback and Yellow Jersey but sections of the document have emerged online while The Scottish Sun received a copy.

The source added: “It’s outrageous that it’s been leaked — it’s a real breach of trust.

“Nothing is signed or sealed yet and it’s not imminent.”

The pitch promises 75,000 words within three months of a deal being struck, with an outline for 19 chapters.

Whyte, cleared of fraud over his £1 takeover of the Glasgow giants in 2011, writes: “The irony is while there are many who have the blood of Rangers on their hands following the club’s liquidation in 2012, I am not one of them.

“Yet I’m the bad guy, apparently.”

[Ronniekirk]

I certainly wont be giving him any more money Wouldn't trust anything he says
If a club offered to throw a game why wasn't this Reported at the time
Will be full of sensationalism to try and get publicity but suspect there will will be very little actual evidence to back up his claims


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[Ozyhibby]

Some of the claims Whyte's making -to sell his book/get a bigger advance etc, etc ?? - who knows but I wouldn't fancy being a member of his security-team right now !.

The guy is in Glasgow quite a bit and nothing ever happens to him. I doubt he is worried.


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[Ozyhibby]

To be fair to John James, although he is a bit of a weirdo, he does have a genuine scoop here.
https://johnjamessite.com/



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[Tornadoes70]

Any idea when the CoS ruling is due?

In normal circumstances the written judgement and interlocutor would already have been produced due to the non complexity of the heard case. Non complex cases will normally be moved along in a matter of a few weeks in absence of public interest in the outcome. However i think they're acutely aware of the public interest here and the setting of precedence which is very probably why it is being given extra deliberation.

In saying that the interlocutor should order King to comply with the Takeover Panel's verdict. Cannot see how they could reach any other outcome or it will have serious implications for the Takeover Panels authority to enforce its rules.

It should in all likelihood be issued in the next couple of weeks.

GGTTH

[jacomo]

To be fair to John James, although he is a bit of a weirdo, he does have a genuine scoop here.
https://johnjamessite.com/



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More than weird.

What is this book and who has written it? If not JJ, how can he be appealing for funds in return for copyrighted material?

[Tomsk]

The former Rangers owner, 46, is to allege a top flight Scots club offered to throw a match for cash.

The book promises to lift the lid on “one player whose performances dipped after he picked up a sexually transmitted disease after playing away from home in more ways than one”.

And another “star” on almost £20,000 a week allegedly saw sheriff officers turn up at Ibrox to seize his cars.

As details of True Blue Treachery were revealed, a source said: “He’s outraged.”

Ex-Gers supremo Sir David Murray is accused of being “desperately keen” to progress a deal to sell Whyte the club.

Craig Whyte paid just £1 to buy the Ibrox club

His memoirs will also claim he was offered a peerage by a political party in exchange for £250,000.

And he’ll make accusations against money men at Gers administrators Duff & Phelps.

A source said: “There are a few sensational stories planned. It’s not been written yet but the plan was sent to three publishers three or four weeks ago and the plan was to publish in spring.”

A 35-page book pitch was sent to publishers Trinity, Biteback and Yellow Jersey but sections of the document have emerged online while The Scottish Sun received a copy.

The source added: “It’s outrageous that it’s been leaked — it’s a real breach of trust.

“Nothing is signed or sealed yet and it’s not imminent.”

The pitch promises 75,000 words within three months of a deal being struck, with an outline for 19 chapters.

Whyte, cleared of fraud over his £1 takeover of the Glasgow giants in 2011, writes: “The irony is while there are many who have the blood of Rangers on their hands following the club’s liquidation in 2012, I am not one of them.

“Yet I’m the bad guy, apparently.”


Glasgow giants ... :blah:

[ballengeich]

In normal circumstances the written judgement and interlocutor would already have been produced due to the non complexity of the heard case. Non complex cases will normally be moved along in a matter of a few weeks in absence of public interest in the outcome. However i think they're acutely aware of the public interest here and the setting of precedence which is very probably why it is being given extra deliberation.

In saying that the interlocutor should order King to comply with the Takeover Panel's verdict. Cannot see how they could reach any other outcome or it will have serious implications for the Takeover Panels authority to enforce its rules.

It should in all likelihood be issued in the next couple of weeks.

GGTTH

I agree about the public interest and setting a precedent causing delay as there has probably been some consultation going on among law lords. However, there's one thing that might make the judgment a little straightforward than it seems at first sight. When a court looks at a body like the TOP, it expects them not just to blindly enforce rules, but to act to further the objectives of these rules.

Concert party rules are intended to protect other shareholders. King's case is that far from needing protection, the small shareholders have seen a 30% rise in the value of their assets since his takeover so it would be unreasonable to expect him to make an offer at well below the current price. If Rangers shares were being traded in a normal market that would be a powerful point. The objection to it is that transactions at the higher price have largely been small-scale purchases by Club 1872, which unitl recently was effectively controlled by James Blair, the Rangers company secretary. The price hasn't been set by a market, but has been artificially determined by the company board, who also intend to get a motion passed at the agm to allow them to dilute other shareholders percentages.

I think that the court should find against King, but the judge will have to be careful in how he justifies the decision.

[HoboHarry]

I certainly wont be giving him any more money Wouldn't trust anything he says
If a club offered to throw a game why wasn't this Reported at the time
Will be full of sensationalism to try and get publicity but suspect there will will be very little actual evidence to back up his claims


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Pretty general and sweeping accusation there Ronnie. Why would he state stuff that would get him sued if untrue? I don't know what he has either but I'm not dismissing it out of hand - there were discussions way back that CW had been recording conversations.....

[Ronniekirk]

Pretty general and sweeping accusation there Ronnie. Why would he state stuff that would get him sued if untrue? I don't know what he has either but I'm not dismissing it out of hand - there were discussions way back that CW had been recording conversations.....

It was Just very wary of folk trying to sell books Often the headline publicity doesn't live up to what the impression given was
Stick to my view i wont be giving him any money by buying it But as always will read this thread to see if there is anything worth reading about his tenure


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[Tornadoes70]

I agree about the public interest and setting a precedent causing delay as there has probably been some consultation going on among law lords. However, there's one thing that might make the judgment a little straightforward than it seems at first sight. When a court looks at a body like the TOP, it expects them not just to blindly enforce rules, but to act to further the objectives of these rules.

Concert party rules are intended to protect other shareholders. King's case is that far from needing protection, the small shareholders have seen a 30% rise in the value of their assets since his takeover so it would be unreasonable to expect him to make an offer at well below the current price. If Rangers shares were being traded in a normal market that would be a powerful point. The objection to it is that transactions at the higher price have largely been small-scale purchases by Club 1872, which unitl recently was effectively controlled by James Blair, the Rangers company secretary. The price hasn't been set by a market, but has been artificially determined by the company board, who also intend to get a motion passed at the agm to allow them to dilute other shareholders percentages.

I think that the court should find against King, but the judge will have to be careful in how he justifies the decision.

There's some merit to your eloquently put points and I'm certain Lord Bannatyne will word his written judgement meaningfully and very carefully with addressing the key aspects of the case that was put in front of him and give due attention to both the Pursuer's (Takeover Panel) and Defender's (King) arguments. However I'm also certain that ultimately he will have quickly focused in on the main question attached to this case of whether or not to enforce the Takeover Panel's decision of the share offer verdict. It certainly appears the Takeover Panel studiously scrutinised all of the evidence at their disposal to reach their verdict and their procedural appeal system exhausted with King failing to comply with their verdict.

I do not think Lord Bannatyne will seek to interfere in the Takeover Panels processes of how they reached such a verdict allied with King's defences mainly relying on having no access to the type of funds required then it really only leaves Lord Bannatyne with one option and that is to force King to comply with the Takeover Panels decision being the share offer.

Of course this is only my opinion and Lord Bannatyne may indeed seek to compromise in some way or find for King however taking everything into consideration it all points to him siding with the authority that is the Takeover Panel whom it appears have acted properly at all times in stark contrast to King who is a known chancer so to speak.

GGTTH

[Skol]

Re the claims of another club offering to throw a game.

Was there not an occassion when Hearts pulled 2 players off the team bus just as they were about to leave for Ibrox and tell them they had VladFlu (Zaliukas and Skacel maybe)

[lapsedhibee]

Re the claims of another club offering to throw a game.

Was there not an occassion when Hearts pulled 2 players off the team bus just as they were about to leave for Ibrox and tell them they had VladFlu (Zaliukas and Skacel maybe)

Aye but MadVladMcMad wanted Hearts to do badly against everyone, not just the thes. Remember that one year Hearts were playing really good stuff and looked as if they might challenge for the league title, McMad promptly sacked the manager!

[Spike Mandela]

Oor Rod gets an (dis)honourable mention again....

https://johnjamessite.com/2017/11/23/sir-bribe-lie/

[Ozyhibby]

Oor Rod gets an (dis)honourable mention again....

https://johnjamessite.com/2017/11/23/sir-bribe-lie/

If true then it helps explain Petrie’s desire for everyone to move on. [emoji35]


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[jacomo]

Again... how on earth is this guy publishing copyrighted material on his site and asking for financial contributions for doing so?

[cabbageandribs1875]

If true then it helps explain Petrie’s desire for everyone to move on. [emoji35]


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uh huh :agree:

[JeMeSouviens]

Derek Ferguson wants an SOS sent out to Souness and Wattie to stop Celtic's 10iar. :rolleyes:

:lolrangers:

[Deansy]

Oor Rod gets an (dis)honourable mention again....

https://johnjamessite.com/2017/11/23/sir-bribe-lie/

'Craig Whyte revealed that as soon as the deal was signed, Sir Bribe & Lie called Murray Foote, the editor of the Daily Record with the glad tidings'

One piece of info no-one will argue whether it's true/false - the 'Daily Rectum' is the official Hun Fanzine, masquerading as a 'Newspaper' !



Absolutely love this little piece, tho -

'One stalwart told craig it was his job to maintain the 'smoke and mirrors' illusion that Rangers was a big time football club. The reality was that, compared to other businesses Craig had taken over, it was a reasonably small business. An impression had to be created otherwise for the fans'

Looking forward to a visit over to Hun-media for their measured responses to this .............................

[JeMeSouviens]

If true then it helps explain Petrie’s desire for everyone to move on. [emoji35]


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I think Petrie is most probably up to his neck in 5 way agreements and such like. Of course, without the truth coming out, we'll never know but the balance of probability based on the Charlotte Fakes leaks and so on indicates he was heavily involved in facilitating the New Huns way in to the leagues.

The allegation here, that he was involved in covering up the Old Huns concealing they owed taxes so they'd be allowed to play in Europe sounds a bit less plausible if anything. But again, it's all under the carpet as far as RP is concerned.

[MrSmith]

If true then it helps explain Petrie’s desire for everyone to move on. [emoji35]


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I think we knew this already. Well you know what, he has some explaining to do but will presume innocence until such a time guilt is proven.

[Smartie]

My hunch (based on very little evidence) is that Rod is indeed up to his neck in it.

I also think that in every meeting leading up to stuff like the 5-way-agreement he will have behaved exactly like the vast majority of Hibs fans will have wanted him to. He will have demanded serious punishment for Rangers, he will have demanded stripping of titles, he will have pushed every step of the way for them to be harshly dealt with.

He will have had the others railing against him, he'll have been over-ruled and he'll have had to publicly support the joint position.

I suspect that if any minutes of meetings were to be published, Petrie would be able to hold his head high.

I suspect he's boiling inside that he has to come across as some sort of Rangers/ Sevco apologist.

Just my opinion and as I said, based on little/ no evidence.



I say no evidence - I actually know some people who were deeply involved at that time. It was pretty grim, miserable and fraught for everyone. Seething huns possibly seeing their team disappear aren't people you want to be exposed or subjected to. Petrie might simply not be bothered with the idea of reopening old wounds, stirring up old problems and would prefer to "quietly move on".

[JeMeSouviens]

My hunch (based on very little evidence) is that Rod is indeed up to his neck in it.

I also think that in every meeting leading up to stuff like the 5-way-agreement he will have behaved exactly like the vast majority of Hibs fans will have wanted him to. He will have demanded serious punishment for Rangers, he will have demanded stripping of titles, he will have pushed every step of the way for them to be harshly dealt with.

He will have had the others railing against him, he'll have been over-ruled and he'll have had to publicly support the joint position.

I suspect that if any minutes of meetings were to be published, Petrie would be able to hold his head high.

I suspect he's boiling inside that he has to come across as some sort of Rangers/ Sevco apologist.

Just my opinion and as I said, based on little/ no evidence.



I say no evidence - I actually know some people who were deeply involved at that time. It was pretty grim, miserable and fraught for everyone. Seething huns possibly seeing their team disappear aren't people you want to be exposed or subjected to. Petrie might simply not be bothered with the idea of reopening old wounds, stirring up old problems and would prefer to "quietly move on".


I used to think similar but "moving on" to the extent that our club doesn't even support the SPFL asking the SFA to be involved in an enquiry has me reconsidering.

[Stonewall]

Again... how on earth is this guy publishing copyrighted material on his site and asking for financial contributions for doing so?

Because White leaked it to him?

[MrSmith]

My hunch (based on very little evidence) is that Rod is indeed up to his neck in it.

I also think that in every meeting leading up to stuff like the 5-way-agreement he will have behaved exactly like the vast majority of Hibs fans will have wanted him to. He will have demanded serious punishment for Rangers, he will have demanded stripping of titles, he will have pushed every step of the way for them to be harshly dealt with.

He will have had the others railing against him, he'll have been over-ruled and he'll have had to publicly support the joint position.

I suspect that if any minutes of meetings were to be published, Petrie would be able to hold his head high.

I suspect he's boiling inside that he has to come across as some sort of Rangers/ Sevco apologist.

Just my opinion and as I said, based on little/ no evidence.



I say no evidence - I actually know some people who were deeply involved at that time. It was pretty grim, miserable and fraught for everyone. Seething huns possibly seeing their team disappear aren't people you want to be exposed or subjected to. Petrie might simply not be bothered with the idea of reopening old wounds, stirring up old problems and would prefer to "quietly move on".

I think you are most likely right. The level of bile and speed of media delivery after our Scottish Cup victory, provided a snapshot of how they all circle the wagons when the Rangers are in trouble. Its vicious, vindictive and completely irrational however, it should not be tolerated. I do think RP is better than the picture created in JJ piece and hope he does come out and defend his position rigorously.

[southern hibby]

Did anyone see PM question time yesterday afternoon? Basically she said that the Taxman had won a unique case in court which would bring in at least 1 Billion in unpaid Taxes.

Not sure if she is on about The Rangers case and EBT's ( or should I say Rangers case ), but if she is then their could be a few English clubs bricking it.

GGTTH

[weecounty hibby]

Stuart Milne saying that McInnes has told him he is staying at Aberdeen. McLiesh or one of the other cheap the rangers men to get the job looks a certainty.

[blackpoolhibs]

If this is true, and Petrie is up to his neck in these lies, it should be more of the same when he takes over at the SFA? :rolleyes:


A transparent enquiry is the only way to get rid of this stench, but turkeys don't vote for christmas.

[Phil MaGlass]

Intervention from Scottish Govt might help.

[heretoday]

Stuart Milne saying that McInnes has told him he is staying at Aberdeen. McLiesh or one of the other cheap the rangers men to get the job looks a certainty.

It won't be the likes of Pardew or Big Sam anyway. They don't get out of bed for less than £4m a year these days.

[jabis]

If this is true, and Petrie is up to his neck in these lies, it should be more of the same when he takes over at the SFA? :rolleyes:


A transparent enquiry is the only way to get rid of this stench, but turkeys don't vote for christmas.

Hope to hear you never got the job of "transparent enquiry" minister.

[Firestarter]

When's Sir Craig's book out?

[jacomo]

When's Sir Craig's book out?


As soon as he's found a publisher?

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20171125/425380cf58aa32050875c1cc3a562f4e.jpg


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[Ronniekirk]

The Rangers A G M today
Discussion on Radio tonight

Key points

1) King saying they will break even in two to three years ,as long as they progress in Europe

2) Need 7.5 Million additional Funding over next two years

3) Made a loss of over Seven Million this past accounting period But nearly half of that was a one off payment to yon guy that was Director at Newcastle

4) They wont be able to compete with Celtic for two to three years again dependant on progressing in Europe

5). Appointing recent manager wasn't a mistake Major In Denial there

6). The Training ground may be Sold ? To Club 18whatever year it was Supporters run Organisation

Just my memory as was listening yo radio while driving

Pundits all saying Manager will be Mcinness On a three year deal
Manager will get substantial Funds next Summer to revamp Squad but there is money in January if right player becomes available

Anyone else hear any of this


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[jgl07]

The Rangers A G M today
Discussion on Radio tonight

Key points

1) King saying they will break even in two to three years ,as long as they progress in Europe

2) Need 7.5 Million additional Funding over next two years

3) Made a loss of over Seven Million this past accounting period But nearly half of that was a one off payment to yon guy that was Director at Newcastle

4) They wont be able to compete with Celtic for two to three years again dependant on progressing in Europe

5). Appointing recent manager wasn't a mistake Major In Denial there

6). The Training ground may be Sold ? To Club 18whatever year it was Supporters run Organisation

Just my memory as was listening yo radio while driving

Pundits all saying Manager will be Mcinness On a three year deal
Manager will get substantial Funds next Summer to revamp Squad but there is money in January if right player becomes available

Anyone else hear any of this


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So the Rangers will break even when they qualify for the Group Stages of the Champions' League or Europa League regularly?

All they have to do is beat Celtic plus Aberdeen and Hibs to the SPFL title, then negotiate three CL qualifying rounds.

Or make the top three in the SPFL and go through three or four rounds of qualification for the Europa League (stating in early June) and not fall over against the first team of part timers from Luxembourg they come across.

I suspect that the Rangers need to modify their business model and try to live within their mean. That implied that they must avoid paying through the nose for crap players.

Leeds United operated a business model in the early 2000s which required at least a quarter final appearance in the Champions League to balance their books. They missed qualification one year and were in financial turmoil and ended up being relegated, not once but twice and suffered an 'insolvency situation' on the way.

[Firestarter]

McInness to be appointed manager next week apparently.

[Lago]

McInness to be appointed manager next week apparently.

Honestly that wouldn't surprise me in the least.

[CropleyWasGod]

So the Rangers will break even when they qualify for the Group Stages of the Champions' League or Europa League regularly?

All they have to do is beat Celtic plus Aberdeen and Hibs to the SPFL title, then negotiate three CL qualifying rounds.

Or make the top three in the SPFL and go through three or four rounds of qualification for the Europa League (stating in early June) and not fall over against the first team of part timers from Luxembourg they come across.

I suspect that the Rangers need to modify their business model and try to live within their mean. That implied that they must avoid paying through the nose for crap players.

Leeds United operated a business model in the early 2000s which required at least a quarter final appearance in the Champions League to balance their books. They missed qualification one year and were in financial turmoil and ended up being relegated, not once but twice and suffered an 'insolvency situation' on the way.

Their Going Concern status is based on them "making the group stages of the Europa League in 3 of the next 5 seasons".

That was established before they went out of the EL this year. So now it's 3 out of the next 4.

[jacomo]

Their Going Concern status is based on them "making the group stages of the Europa League in 3 of the next 5 seasons".

That was established before they went out of the EL this year. So now it's 3 out of the next 4.


Oh dear.

[Ozyhibby]

https://rangers.co.uk/news/headlines/agm-result-notice-3/

Res 11 is one of the reasons we need HSL to get to 26% although even that is no guarantee as they appear to have persuaded Club 1872 to vote to make their own shares worthless.


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[HoboHarry]

https://rangers.co.uk/news/headlines/agm-result-notice-3/

Res 11 is one of the reasons we need HSL to get to 26% although even that is no guarantee as they appear to have persuaded Club 1872 to vote to make their own shares worthless.


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What does Resolution 11 mean in non-CWG language? :wink:

And what effect (if any) will Lord Bannatyne's judgement have if he finds for the take over panel?

[Hibernia&Alba]

Their Going Concern status is based on them "making the group stages of the Europa League in 3 of the next 5 seasons".

That was established before they went out of the EL this year. So now it's 3 out of the next 4.

They'll be lucky, with three qualifying rounds before the group stage. Fell at the first hurdle this season.

[Captain Trips]

Lets make sure we finish above them then and make qualifying for Europe difficult for them.

[Ozyhibby]

What does Resolution 11 mean in non-CWG language? :wink:

CWG will prob correct me on this but I think it means the board can now create more shares and issue them to whoever it chooses at a price that it chooses without offering the same deal to all shareholders.


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[Ozyhibby]

Lets make sure we finish above them then and make qualifying for Europe difficult for them.

Difficult when they are able to use cash from offshore sources not available to teams spending within our means.


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[Joe6-2]

McInness to be appointed manager next week apparently.

Deserves all he gets, or doesn’t get, if he goes there! No money, no decent players and no trophies

[stoneyburn hibs]

Deserves all he gets, or doesn’t get, if he goes there! No money, no decent players and no trophies

There is a few decent players there, only a few at most with Windass imo being there best. McInnis would be a mug professionally to go there. I like the guy and assume he will have the sense to stay put for now.

[ballengeich]

What does Resolution 11 mean in non-CWG language? :wink:

And what effect (if any) will Lord Bannatyne's judgement have if he finds for the take over panel?


I think it means that they can convert debt owed to the directors into new shares without having to give other shareholders the chance to increase their holdings. That wouldn't bring any fresh money to the club, but it would make it easier for them to comply with UEFA's fair play rules.

They plan to let Club1872 buy more shares as that would actually raise some cash. For other shareholders it means that the value of what they own will be reduced. That means that if Lord Bannatyne finds for the TOP a price of 20p per share could look very attractive to anyone who isn't there purely as a fan.

If King's compelled to offer 20p for all other shares and a significant proportion accept (say the 22% who voted against Resolution 11 plus the off-shore holdings who weren't allowed to vote), it'll cost him several millions in addition to the £7m he's apparently pledged to cover estimated losses up to summer 2019. If I was advising the three bears I'd be suggesting that they make plans for how they'll cope if he doesn't come up with the money when it's wanted.

[Deansy]

There is a few decent players there, only a few at most with Windass imo being there best. McInnis would be a mug professionally to go there. I like the guy and assume he will have the sense to stay put for now.

That's where I am with McInnes - 'Greed' taking priority over 'Common-sense', which would be NOT taking over that basket-case of a club ! !. Earning probably 4-5 times what he's earning at Aberdeen would be the only reason for taking a job where he'll get non-stop grief for the heinous crime of finishing second/behind Septic !

[Ronniekirk]

That's where I am with McInnes - 'Greed' taking priority over 'Common-sense', which would be NOT taking over that basket-case of a club ! !. Earning probably 4-5 times what he's earning at Aberdeen would be the only reason for taking a job where he'll get non-stop grief for the heinous crime of finishing second/behind Septic !

The Clash Should i stay or should i go
Seems s shoe in if the Media frenzy on the West Coast is to be believed
If Rangers were to win again at Aberdeen and and he jumps ship then And Rangers finish above Aberdeen Aberdeen fans would not be happy
But he isn't really winning things at Aberdeen so if he Doesnt want to go down south he may well fancy the Challenge

[Tornadoes70]

What does Resolution 11 mean in non-CWG language? :wink:

And what effect (if any) will Lord Bannatyne's judgement have if he finds for the take over panel?

If Lord Bannatyne issues the expected interlocutor ordering King to make good the share offer then that is exactly what he will have to do irrespective of any proposed Resolution 11.

[Tornadoes70]

McInness to be appointed manager next week apparently.

If he is its been an unmitigated embarrassment for both him and all concerned. I'd feel really sorry for the sheep fans who'd have been taken for mugs by both McInnes and the unbelievably shockingly biased scottish media and pundits who've once more been cheerleaders in unsettling and ensuring a move.

I'd be very angry if I was a sheep fan and this occurred just a few days after the chairman informing the supporters he wasn't going anywhere. I'd probably chuck football altogether.

GGTTH

[high bee]

If he is its been an unmitigated embarrassment for both him and all concerned. I'd feel really sorry for the sheep fans who'd have been taken for mugs by both McInnes and the unbelievably shockingly biased scottish media and pundits who've once more been cheerleaders in unsettling and ensuring a move.

I'd be very angry if I was a sheep fan and this occurred just a few days after the chairman informing the supporters he wasn't going anywhere. I'd probably chuck football altogether.

GGTTH

Especially if they lose 2 games to them in the week preceding it.

[Ozyhibby]

Hope McInnes goes to Sevco. He can’t be a success there while Celtic are so cash rich and it upsets Aberdeen. Win win.


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[Tornadoes70]

Especially if they lose 2 games to them in the week preceding it.

That would be the nail in the coffin or a spark to ignite unprecedented anger. Sportsound midweek has been the loudest in proclaiming McInnes will be the next hun manager while no approach had been made. A disgrace if it happens.

[blackpoolhibs]

I think he will be a relative success if he goes to sevco, he will improve them in my opinion more than some of the clowns the've had recently.

He wont get near Celtic though, certainly not near enough for the mutants.

How long will they support him being 2nd best?

[weecounty hibby]

The Hun have been using their propaganda wing to unsettle McInnes and even after he has said and his chairman has said he is staying they have still kept up the barrage of stories about him being next boss. The media in this country are a total disgrace.

[marinello59]

The Hun have been using their propaganda wing to unsettle McInnes and even after he has said and his chairman has said he is staying they have still kept up the barrage of stories about him being next boss. The media in this country are a total disgrace.

If Mcinnes was serious when he pledged his loyalty to the sheep then nothing the media says would unsettle him. Unless he was using the media himself of course. If he was , don’t shoot the messenger.

[Tornadoes70]

If Mcinnes was serious when he pledged his loyalty to the sheep then nothing the media says would unsettle him. Unless he was using the media himself of course. If he was , don’t shoot the messenger.

The day after the chairman of Aberdeen stated McInnes had informed him he (Mcinnes) had pledged to remain at Aberdeen Kenny McIntyre's Sportsound Team were speculating if it was the truth or not. Don't shoot the messenger line is pathetic at best.

[Deansy]

I think he will be a relative success if he goes to sevco, he will improve them in my opinion more than some of the clowns the've had recently.

He wont get near Celtic though, certainly not near enough for the mutants.

How long will they support him being 2nd best?

Exactly - all that'll change is McInnes will be in a far higher tax-bracket, he'll never be off 'Sportscene' and he'll be heavily touted for Scotland-manager - all within 2 years - TOPS !

Meanwhile the Hun-loyal will be proving they're anything but loyal as their attendances plummet due to Septic nearing '10 in-a-row', despite Rangers cementing 'Best of the rest' (whoopee-doo - much the same as the Jambos one-time much proclaimed - '3rd-Best' !!), their debts will be £40m+ and the Scottish 'media' will still be advising them to get further into debt to theoretically challenge Septic !

Sooooooooooooooooooo looking forward to their next administration - surely they'll die this time ??

[marinello59]

The day after the chairman of Aberdeen stated McInnes had informed him he (Mcinnes) had pledged to remain at Aberdeen Kenny McIntyre's Sportsound Team were speculating if it was the truth or not. Don't shoot the messenger line is pathetic at best.

I will only believe Mcinnes doesn’t want to go to Rangers when he pledges his loyalty from the Pittodrie pitch.
And if he left after that then it could only be the big bad media to blame for forcing him to move against his will.

[GreenLake]

I will only believe Mcinnes doesn’t want to go to Rangers when he pledges his loyalty from the Pittodrie pitch.
And if he left after that then it could only be the big bad media to blame for forcing him to move against his will.

The media are largely The Rangers supporters so no surprise there.

[weecounty hibby]

I will only believe Mcinnes doesn’t want to go to Rangers when he pledges his loyalty from the Pittodrie pitch.
And if he left after that then it could only be the big bad media to blame for forcing him to move against his will.

The same way McLiesh did at ER. Then th Hun media swung into to action again. Their medIa are a disgrace and are doing rangers job for them and have done e for decades

[marinello59]

The same way McLiesh did at ER. Then th Hun media swung into to action again. Their medIa are a disgrace and are doing rangers job for them and have done e for decades

MacLeish didn’t leave us because of the media. He wanted to go and his promise to stay was meaningless. Just like Mcinnes will only leave because he wants to, it will be 100% his choice.

[Hibernia&Alba]

So, the rumour mill says they will make an approach for McInnes early next week. Personally I think he's the right man from their point of view. I hope they don't get him but end up with big Eck again.

[Eyrie]

I'm probably in the minority given that McInnes leaving would weaken Aberdeen without enabling Sevco to catch Celtc, but I'd like him to stay put.

The outrage at Ibrox when they realise that they've been knocked back will be worth it.

[Captain Trips]

DM will go if that's what he wants, the media if of a Sevco persuasion will do all they can to unsettle things if those individuals think its in Sevcos best interests. I'm sure he does wish to be Sevco manager at some point and might want to stay at Aberdeen just now but has to be careful not to upset Sevco if it's not interested as they will then in their logic decide he is a ****** B stard

[hhibs]

MacLeish didn’t leave us because of the media. He wanted to go and his promise to stay was meaningless. Just like Mcinnes will only leave because he wants to, it will be 100% his choice.

If I recollect ,Judas was meeting with senior figures from ibrox for months while swearing his allegiance to Hibs............hope he goes back,pretty sure he will take them no where fast.

[Fuzzywuzzy]

Apparently not in the dug out tomorrow. Deal already done in the past week which makes you question why he would have been in charge on Wednesday.

[hhibs]

Apparently not in the dug out tomorrow. Deal already done in the past week which makes you question why he would have been in charge on Wednesday.


If this turns out to be true ,that is truly reprehensible, the Dons fans will be furious,as they should.

Hmm,more bad blood between them..........interesting times.

[Ronniekirk]

The press through in the West running another article in the lead up to The Rangers game saying The Rangers are bookies favourites to sign John McGinn
They have just announced losses of over seven million ,have to pay off yet another Manager hence dragging their heels appointing a new one clearly as they need to save money
They have no chance of getting Mcginn on the cheap so its about time someone challenged this nonsense
Can we sing a song about this at the game
You cant afford Mcginn
Super John McGinn
you just don't
seem to understand

Your Dirty Cheating Huns
You cannae afford the Funds
We've
Got Super John Mcginn
Bit naff but you get my drift Someone can probably come up with something better




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[CentreLine]

The press through in the West running another article in the lead up to The Rangers game saying The Rangers are bookies favourites to sign John McGinn
They have just announced losses of over seven million ,have to pay off yet another Manager hence dragging their heels appointing a new one clearly as they need to save money
They have no chance of getting Mcginn on the cheap so its about time someone challenged this nonsense
Can we sing a song about this at the game
You cant afford Mcginn
Super John McGinn
you just don't
seem to understand

Your Dirty Cheating Huns
You cannae afford the Funds
We've
Got Super John Mcginn
Bit naff but you get my drift Someone can probably come up with something better




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Nice sentiment but more than a little counterproductive. I don’t think we should be lending credibility to this nonsense by acknowledging it and certainly not at a game where the only person like to be in the least affected would be McGinn himself.

[Hibernia&Alba]

Apparently not in the dug out tomorrow. Deal already done in the past week which makes you question why he would have been in charge on Wednesday.

This is one to watch! Any truth in such a story would surely represent a clear conflict of interest.

[Ronniekirk]

This is one to watch! Any truth in such a story would surely represent a clear conflict of interest.

Plenty truth in the story then they will try and unsettle us by bidding for Super John
The Aberdeen Board should of had the bottle to let someone else be in charge for that second game v The Rangers They have gifted them six points and let them leapfrog them into second place then they take their Manager
He didn't accept other jobs down south and that was s clear indication he was biding his time for The Rangers job
No idea how he will do their , but i think The Board will have to back him big style to keep fans on board and look to get beyond European qualifiers Thats key for next Season to their longer term plans The longer they take to do that , the more money needs poured into the Club


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[HoboHarry]

Think JJ has gone completely off his rocker here - claiming Pena is as good as Jim Baxter and that the Sevco attack will run riot against Celtic....... :faf:

[Ozyhibby]

Think JJ has gone completely off his rocker here - claiming Pena is as good as Jim Baxter and that the Sevco attack will run riot against Celtic....... :faf:

He was always completely off his rocker. Pay no heed to him.
With the judicial review now gone and the clubs turning a blind eye, this is almost done now. They have got away with it. There is only the awarding of the UEFA license decision from the compliance officer to go and I expect him to pronounce them guilty but with a slap on the knuckles.
After that, the only fun to be had would be in a possible insolvency for Sevco.
JJ’s hits to his website will be falling dramatically I imagine.


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[Ozyhibby]

They appear to be in court this Wednesday with this company in Singapore.
http://www.dailyrecord.co.uk/sport/football/football-news/rangers-vow-to-fight-400000-asian-1593384
Article is from 2013


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[Ozyhibby]

They appear to be in court this Wednesday with this company in Singapore.
http://www.dailyrecord.co.uk/sport/football/football-news/rangers-vow-to-fight-400000-asian-1593384
Article is from 2013


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[Ozyhibby]

https://uploads.tapatalk-cdn.com/20171211/3c8cb9ebc6712c5c32e045fba9c14754.jpg


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[Mantis Toboggan]

He was always completely off his rocker. Pay no heed to him.
With the judicial review now gone and the clubs turning a blind eye, this is almost done now. They have got away with it. There is only the awarding of the UEFA license decision from the compliance officer to go and I expect him to pronounce them guilty but with a slap on the knuckles.
After that, the only fun to be had would be in a possible insolvency for Sevco.
JJ’s hits to his website will be falling dramatically I imagine.


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His site is a total embarrassment now. Was going on about the faking of the moon landings a few weeks ago.

[fat freddy]

His site is a total embarrassment now. Was going on about the faking of the moon landings a few weeks ago.

I don't see the problem with that, he often blogs on non football matters and shining a light on NASA faking the moon landings provided a welcome break from his daily GASL tirades. I look forward to him exposing the fake chinese moon landings of 2013.

[Ozyhibby]

I don't see the problem with that, he often blogs on non football matters and shining a light on NASA faking the moon landings provided a welcome break from his daily GASL tirades. I look forward to him exposing the fake chinese moon landings of 2013.

I think he’s wired to the moon.


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[Deansy]

The press through in the West running another article in the lead up to The Rangers game saying The Rangers are bookies favourites to sign John McGinn
They have just announced losses of over seven million ,have to pay off yet another Manager hence dragging their heels appointing a new one clearly as they need to save money
They have no chance of getting Mcginn on the cheap so its about time someone challenged this nonsense
Can we sing a song about this at the game
You cant afford Mcginn
Super John McGinn
you just don't
seem to understand

Your Dirty Cheating Huns
You cannae afford the Funds
We've
Got Super John Mcginn
Bit naff but you get my drift Someone can probably come up with something better




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I don't think even our 'media' in general would run with that story - for 2 reasons -

1) The Hun are skint - they simply cannot afford SJM

2) It's a well-known fact that SJM is ambitious - 'Greyskull' wouldn't even make the register for the 'last place he'd go to' !

[Fuzzywuzzy]

Provide financial support'

The loans took the total debt to £15.9m - of which £6.7m is owed to New Oasis.

The report said: "The board have discussed the club's forecast cash shortfall and have reached an agreement with New Oasis Asset Limited whereby they will provide additional loan facilities as necessary to meet the above requirements.

"Further to this, New Oasis Asset Limited and certain investors have agreed to extend their existing loan facilities to July 2019.

"The board is satisfied that those parties will continue to provide financial support to the group and have satisfied themselves as to the validity of the undertakings.

"The board acknowledge that had these assurances not been secured then a material uncertainty would exist which may cast doubt over the groups' ability to continue as a going concern and therefore its ability to realise its assets and discharge its liabilities in the normal course of business."

I can only think the £16m debt is being extremely generous. More than likely one of the many reasons for McInnes not to go there.

They can't afford him. And I think that any chance they thought they had of getting McLean from Aberdeen is probably screwed when McInnes gives him the lay of the land

[Ozyhibby]

Provide financial support'

The loans took the total debt to £15.9m - of which £6.7m is owed to New Oasis.

The report said: "The board have discussed the club's forecast cash shortfall and have reached an agreement with New Oasis Asset Limited whereby they will provide additional loan facilities as necessary to meet the above requirements.

"Further to this, New Oasis Asset Limited and certain investors have agreed to extend their existing loan facilities to July 2019.

"The board is satisfied that those parties will continue to provide financial support to the group and have satisfied themselves as to the validity of the undertakings.

"The board acknowledge that had these assurances not been secured then a material uncertainty would exist which may cast doubt over the groups' ability to continue as a going concern and therefore its ability to realise its assets and discharge its liabilities in the normal course of business."

I can only think the £16m debt is being extremely generous. More than likely one of the many reasons for McInnes not to go there.

They can't afford him. And I think that any chance they thought they had of getting McLean from Aberdeen is probably screwed when McInnes gives him the lay of the land

Yes, they are financially doped to the eyeballs in order to get one of those euro places ahead of us. I’m not sure why we just accept that.


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[Bostonhibby]

Yes, they are financially doped to the eyeballs in order to get one of those euro places ahead of us. I’m not sure why we just accept that.


Sent from my iPhone using TapatalkDoesn't look like sevco are moving on from their predecessors, the now defunct Glasgow rangers method of funding success.

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[lapsedhibee]

Yes, they are financially doped to the eyeballs in order to get one of those euro places ahead of us. I’m not sure why we just accept that.


:agree:

[jacomo]

Yes, they are financially doped to the eyeballs in order to get one of those euro places ahead of us. I’m not sure why we just accept that.


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How can we not accept it? Sevco have done nothing legally wrong as far as I can see, and FFP has been shown to be a sham. You'll get nothing there.

I am, however, thinking that serious financial woes might be coming. Best thing Hibs can do is stop them qualifying for Europe.

[CropleyWasGod]

The latest Court case.

http://www.dailyrecord.co.uk/news/scottish-news/rangers-liquidators-locked-28m-legal-11703666

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[Tynie01011973]

Latest from JJ
"
Companies House Bombshell
Date: 11 December

Form: PSC01

Description: Notification of Alastair Johnson as a person with significant control on November 15.


Regan: “Look Dave you’re ****ed. Let Alastair take over or your club will go down the Swanee. Think of my fat cat bonuses from William Hill and Ladbrokes. Since when was the SFA a parochial concern?”
This Companies House bombshell has gone largely unreported in the SMSM. Colour me surprised. So how did Johnston acquire his significant control? One could make a cogent case for Johnston buying out King as it kills two birds with one stone:

1. The ‘Cold Shoulder’ and any Court of Session edicts fall squarely on King, and as a former shareholder the impact on RIFC plc would be mitigated.

2. The £7.2m, promised by King to satisfy the auditors, which would have been a case of throwing bent money after bad, can remain safely ensconced in The British Virgin Islands.

However if (2) holds true, then Campbell Dallas are compromised. Is this announcement the rationale for the auditors recently beating a path to Edmiston Drive?

Is this the reason for Stewart Robertson dropping all communication with McInnes?

Is Sir Bribe & Lie behind the Johnston putsch? Will he step up to provide the £7.2m quantum required to keep the lights on? Or is Johnston going it alone with a view to raising this quantum at The Rinse & Dry Share Issue?

Developing Story"

[Moulin Yarns]

Latest from JJ
"
Companies House Bombshell
Date: 11 December

Form: PSC01

Description: Notification of Alastair Johnson as a person with significant control on November 15.

Developing Story"

And is anyone able to translate that into meaningful English?

[CropleyWasGod]

And is anyone able to translate that into meaningful English?

As ever, JJ fails to see the wood for the conspirators hiding in the ****ing trees.

If he actually looked at the Companies House website, he would see that Johnston ( and Barry Scott, one of the Hong Kong guys; why no mention of him?) were registered as Persons of Significant Control because they have "the right to exercise, or actually exercises, significant influence or control over the company."

If AJ had actually bought sufficent shares to take him over a 25% holding, that would have been recorded differently, and would have explicitly said so.

He also ignores the fact that both were appointed as directors on the same day.

Anybody else want to spike his "breaking story"? I need to get my housework done before the game starts.

[Saturday Boy]

As ever, JJ fails to see the wood for the conspirators hiding in the ****ing trees.

If he actually looked at the Companies House website, he would see that Johnston ( and Barry Scott, one of the Hong Kong guys; why no mention of him?) were registered as Persons of Significant Control because they have "the right to exercise, or actually exercises, significant influence or control over the company."

If AJ had actually bought sufficent shares to take him over a 25% holding, that would have been recorded differently, and would have explicitly said so.

He also ignores the fact that both were appointed as directors on the same day.

Anybody else want to spike his "breaking story"? I need to get my housework done before the game starts.

Barry Scott, is that the guy from the Cillit Bang advert? 😉

[Ozyhibby]

http://club1872.co.uk/wp-content/uploads/2017/12/AGM-2017-QA.pdf

Sevco admitting the are going to need champions league football to break even in questions 6&7.
Ignoring the folly of trying to repeat this and where it led last time, in the meantime it’s clubs like Hibs who are going to lose out here as they qualify for Europe ahead of us. Not sure why Hibs are happy to just let this go?


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[Tornadoes70]

https://www.scotcourts.gov.uk/current-business/court-rolls/court-roll?id=d8fc44a7-8980-69d2-b500-ff0000d74aa7#

Friday appears to have been marked down as deliverance day for the keenly awaited Lord Bannatyne Judgement!



GGTTH

[jacomo]

http://club1872.co.uk/wp-content/uploads/2017/12/AGM-2017-QA.pdf

Sevco admitting the are going to need champions league football to break even in questions 6&7.
Ignoring the folly of trying to repeat this and where it led last time, in the meantime it’s clubs like Hibs who are going to lose out here as they qualify for Europe ahead of us. Not sure why Hibs are happy to just let this go?


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That is staggering.

In order to qualify for the CL group stage, they will need to finish above Celtc and then negotiate the qualifying rounds.

Yet their answer to 'how will you catch Celtc?' is 'play in the CL group stage??

[CropleyWasGod]

http://club1872.co.uk/wp-content/uploads/2017/12/AGM-2017-QA.pdf

Sevco admitting the are going to need champions league football to break even in questions 6&7.
Ignoring the folly of trying to repeat this and where it led last time, in the meantime it’s clubs like Hibs who are going to lose out here as they qualify for Europe ahead of us. Not sure why Hibs are happy to just let this go?


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It doesn't actually say that. It talks about the "gulf" between them and Celtic. Celtic have the CL, Rangers don't.

Q. The most recent financial results are encouraging but highlight the staggering gulf between us
and our nearest competition. Can this board please outline how they plan to deal with this
substantial deficit going forward?*

A. The majority of the deficit is accounted for through qualification for the Champions League
group stages.

[HoboHarry]

http://club1872.co.uk/wp-content/uploads/2017/12/AGM-2017-QA.pdf

Sevco admitting the are going to need champions league football to break even in questions 6&7.
Ignoring the folly of trying to repeat this and where it led last time, in the meantime it’s clubs like Hibs who are going to lose out here as they qualify for Europe ahead of us. Not sure why Hibs are happy to just let this go?


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It's staggering that they seem to think that the group stages of the CL can be achieved with players like Lee Wallace, Ryan Jack and Josh Windass....... :faf:

[HoboHarry]

It doesn't actually say that. It talks about the "gulf" between them and Celtic. Celtic have the CL, Rangers don't.

Q. The most recent financial results are encouraging but highlight the staggering gulf between us
and our nearest competition. Can this board please outline how they plan to deal with this
substantial deficit going forward?*

A. The majority of the deficit is accounted for through qualification for the Champions League
group stages.

Sorry CWG but there is no doubt in my mind that is what they are inferring....

"The majority of the deficit is accounted for through qualification for the Champions Leaguegroup stages. Other income streams such as retail revenue and commercial income areincreasing however there needs to be a recognition of just how valuable qualification forthe group stages of the Champions League has now become. It is worth in the region of30m Euros plus associated gate monies."

[CropleyWasGod]

Sorry CWG but there is no doubt in my mind that is what they are inferring....

"The majority of the deficit is accounted for through qualification for the Champions Leaguegroup stages. Other income streams such as retail revenue and commercial income areincreasing however there needs to be a recognition of just how valuable qualification forthe group stages of the Champions League has now become. It is worth in the region of30m Euros plus associated gate monies."

Yes, the deficit between them and Celtic. The question was asked by Club 1872 about the gulf between them.

They have already gone on record that, in order to be a Going Concern, they have to qualify for the group stages of the Europa league for 3 out of the next 5 (make it 4 now) seasons.

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20171220/3b43d2eb9063d8726c870a0d54620e93.jpg
Also says that regular European football is necessary to achieve break even.
Who is that European football going come at the expense of? Probably us.


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[ancient hibee]

However what they’re also implying is that Celtic need that money to maintain the gap.If they don’t have it then things would be more equal.(they hope)

[Smartie]

I've thought for a while that if we get results right on the park that we could finish them off.

It is ridiculous that a club in their position should be staking so much on something that could quite conceivably not happen.

Why do "certain clubs" have such a problem with the concept of living within your means?

It's not a popular opinion but I genuinely consider them to be the same club. You would think they'd take the second chance they've been given a bit more seriously and heed warnings, given what happened before.

[Moulin Yarns]

Breaking news on Twitter

A judge has ordered @RangersFC (https://twitter.com/RangersFC) chairman Dave King to make an £11 million offer to the club's remaining shareholders.

More news

http://www.bbc.co.uk/sport/football/42454416

[Tornadoes70]

Breaking news on Twitter

A judge has ordered @RangersFC (https://twitter.com/RangersFC) chairman Dave King to make an £11 million offer to the club's remaining shareholders.

More news

http://www.bbc.co.uk/sport/football/42454416

The Judgement's not been published yet on their website however both parties may well have been emailed both the Interlocuters and Written Judgements and they've been leaked to the press first. Lovely news if it is the outcome.

:aok:

[Tornadoes70]

https://www.scotcourts.gov.uk/docs/default-source/cos-general-docs/pdf-docs-for-opinions/2017csoh156.pdf?sfvrsn=0

Here it is. Going to read over it.

[Hibernia&Alba]

What if dodgy Dave doesn't have £11 million to make said offer?

[John_R_Corbett]

What if dodgy Dave doesn't have £11 million to make said offer?He'll scam somebody to get it? :dunno:

[grunt]

Also this. Murty to stay on as manager.


https://twitter.com/ScotlandSky/status/944178675007852544 (https://twitter.com/ScotlandSky/status/944178675007852544)

[Ozyhibby]

Means they can’t have a share issue now until Dave offers everyone else a chance to get out, which they would be mad not to take as they are about to devalue all existing shares with the issue of new shares.


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[Tornadoes70]

At first glance Lord Bannatyne decided there were two main issues raised in the case.

1, The issue of whether Lord Bannatyne had discretionary power not to automatically rule in favor of the Panel.

Lord Bannatyne found in favor of the Respondents (King) that he did indeed have discretionary power not to.

2, Whether or not to find for the Panel and grant the order sought by the Panel that was to make good on the share offer.

Lord Bannatyne found in favor of the Panel and granted the order be made against King to make good on the share offer.

:greengrin

[Ozyhibby]

Also this. Murty to stay on as manager.


https://twitter.com/ScotlandSky/status/944178675007852544 (https://twitter.com/ScotlandSky/status/944178675007852544)

Disgusting decision.
Murty seems like a likeable chap and that is not what Sevco are for. Dereliction of duty from the Sevco board there.


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[Ozyhibby]

This court order today should also be a matter for the compliance officer but of course it won’t be.


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[Firestarter]

They are skint as. :greengrin

[CropleyWasGod]

What if dodgy Dave doesn't have £11 million to make said offer?

1. he'll be in contempt of Court if he (his company/trust, in reality) doesn't make the offer.

2. if he makes the offer, but can't/won't pay, the sellers will sue and we'll be back in Court again.

The wider issue is that any short-term loans that RFC were expecting from him have just disappeared over the horizon.

[Moulin Yarns]

1. he'll be in contempt of Court if he (his company, in reality) doesn't make the offer.

2. if he makes the offer, but can't/won't pay, the sellers will sue and we'll be back in Court again.

The wider issue is that any short-term loans that RFC were expecting from him have just disappeared over the horizon.

Ah, CWG, always the bearer of good news :greengrin

[Billy Whizz]

1. he'll be in contempt of Court if he (his company, in reality) doesn't make the offer.

2. if he makes the offer, but can't/won't pay, the sellers will sue and we'll be back in Court again.

The wider issue is that any short-term loans that RFC were expecting from him have just disappeared over the horizon.

Crops, who’s paying for all these court fees

[John_R_Corbett]

1. he'll be in contempt of Court if he (his company/trust, in reality) doesn't make the offer.

2. if he makes the offer, but can't/won't pay, the sellers will sue and we'll be back in Court again.

The wider issue is that any short-term loans that RFC were expecting from him have just disappeared over the horizon.That in itself is great news, well played the judge :thumbsup:

[Firestarter]

1. he'll be in contempt of Court if he (his company/trust, in reality) doesn't make the offer.

2. if he makes the offer, but can't/won't pay, the sellers will sue and we'll be back in Court again.

The wider issue is that any short-term loans that RFC were expecting from him have just disappeared over the horizon.

Appoint Hamster Puss as the manager until the end of the season and fall down the league, will that devalue shares?

[CropleyWasGod]

Crops, who’s paying for all these court fees

Good question.

It shouldn't be RFC, as it's not their fight. It should be DK/NOLA on one side, and the taxpayer on the other. Whether DK will get RFC to pay his share, one can only guess :greengrin...... but I'm not sure if orders can be made for the Takeover Panel's costs to be made against DK. One would hope so.

[CropleyWasGod]

Appoint Hamster Puss as the manager until the end of the season and fall down the league, will that devalue shares?

IIRC, they have to offer 20p per share.

At the moment, that would be a bad deal for the shareholders. In the scenario you suggest, 20p might be attractive. But, as Ozy says, the new share issue might devalue them anyway... and this judgement will, for sure, as their stability is back in question.

[Tornadoes70]

Good question.

It shouldn't be RFC, as it's not their fight. It should be DK/NOLA on one side, and the taxpayer on the other. Whether DK will get RFC to pay his share, one can only guess :greengrin...... but I'm not sure if orders can be made for the Takeover Panel's costs to be made against DK. One would hope so.

The costs have been reserved for now. Its normally the losing party who pays both sides costs albeit again the Lords have discretionary powers not to award costs against the losing party.

Hopefully the TP will at a later date seek a hearing for King to be held liable for their costs as it will run into many thousands of pounds.

:greengrin

[jacomo]

What if dodgy Dave doesn't have £11 million to make said offer?


I've seen his wine cellar on TV.

Just needs to sell that, plus any other property he owns, and see how much that raises.

[HoboHarry]

I've seen his wine cellar on TV.

Just needs to sell that, plus any other property he owns, and see how much that raises.
He lost his wine cellar not long after he was daft enough to show it off. SARS (I think) took it off of him.....

[Firestarter]

IIRC, they have to offer 20p per share.

At the moment, that would be a bad deal for the shareholders. In the scenario you suggest, 20p might be attractive. But, as Ozy says, the new share issue might devalue them anyway... and this judgement will, for sure, as their stability is back in question.

Thanks Cropley.

[HoboHarry]

1. he'll be in contempt of Court if he (his company/trust, in reality) doesn't make the offer.

2. if he makes the offer, but can't/won't pay, the sellers will sue and we'll be back in Court again.

The wider issue is that any short-term loans that RFC were expecting from him have just disappeared over the horizon.
Astonishingly cheery post from you :wink:. When does he have to make the offer by?

[CropleyWasGod]

I've seen his wine cellar on TV.

Just needs to sell that, plus any other property he owns, and see how much that raises.

Just to be clear, though, it's the family trust that has to make the offer. At the moment, his own personal assets shouldn't be in play.

[Tornadoes70]

The emails between Letham and King were damning evidence of them being fully aware of the 30 per cent trigger. They knew what they were about yet chose to leave a trail of evidence. I can't understand for the life of me why they would knowingly seek to bypass the rules yet do it so openly leaving them bang to rights. Total amateurs who deserved to be caught out and to be served up the consequences.

Cropleywasgod was correct on here a few months ago when surmising Kings defence of claiming poverty was irrelevant. Lord Bannatyne made that very point in his Judgement.

This is great news. King is an out and out liar and conman. He's been caught with his pants down so to speak and I hope he's contemplating exiting Scottish Football right now.

GGTTH

[Ozyhibby]

The emails between Letham and King were damning evidence of them being fully aware of the 30 per cent trigger. They knew what they were about yet chose to leave a trail of evidence. I can't understand for the life of me why they would knowingly seek to bypass the rules yet do it so openly leaving them bang to rights. Total amateurs who deserved to be caught out and to be served up the consequences.

Cropleywasgod was correct on here a few months ago when surmising Kings defence of claiming poverty was irrelevant. Lord Bannatyne made that very point in his Judgement.

This is great news. King is an out and out liar and conman. He's been caught with his pants down so to speak and I hope he's contemplating exiting Scottish Football right now.

GGTTH

It shouldn’t be in his gift to just leave. He has just been called out for lying ina Scottish court and mounting an illegal takeover of a Scottish football club. The SFA should be acting today. Will they though?


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[Tornadoes70]

It shouldn’t be in his gift to just leave. He has just been called out for lying ina Scottish court and mounting an illegal takeover of a Scottish football club. The SFA should be acting today. Will they though?


Sent from my iPhone using Tapatalk

Great points.

All parties concerned may just be very glad to see the back of him though and to leave it at that. We don't know its without precedent. If he remains it will be enforced no doubt about that or face the consequences if not.

[SouthsideHarp_Bhoy]

It shouldn’t be in his gift to just leave. He has just been called out for lying ina Scottish court and mounting an illegal takeover of a Scottish football club. The SFA should be acting today. Will they though?


Sent from my iPhone using Tapatalk

Ha ha ha, i think we all know the answer to that one mate!

[John_R_Corbett]

It shouldn’t be in his gift to just leave. He has just been called out for lying ina Scottish court and mounting an illegal takeover of a Scottish football club. The SFA should be acting today. Will they though?


Sent from my iPhone using TapatalkDon't hold your breath, they'll just find a bigger rug and a bigger brush

[John_R_Corbett]

Breaking news on Twitter

A judge has ordered @RangersFC (https://twitter.com/RangersFC) chairman Dave King to make an £11 million offer to the club's remaining shareholders.

More news

http://www.bbc.co.uk/sport/football/42454416Just thinking, this post could maybe have fitted in quite well on the good news stories thread :greengrin :thumbsup:

[CropleyWasGod]

Great points.

All parties concerned may just be very glad to see the back of him though and to leave it at that. We don't know its without precedent. If he remains it will be enforced no doubt about that or face the consequences if not.

It will be enforced even if he "leaves".

If he were to, cough, walk away from Rangers today, the offer would still have to be made.

[Tornadoes70]

It will be enforced even if he "leaves".

If he were to, cough, walk away from Rangers today, the offer would still have to be made.

Theoretically you're correct but this is no normal respectable businessman involved here. There's no telling just what this man is capable of however he may just decide to spend some of his 'children's inheritance' and do as he's been told.

No doubt its going to be great viewing whatever happens.

:greengrin

[Stonewall]

IIRC, they have to offer 20p per share.

At the moment, that would be a bad deal for the shareholders. In the scenario you suggest, 20p might be attractive. But, as Ozy says, the new share issue might devalue them anyway... and this judgement will, for sure, as their stability is back in question.

Who's to say what a realistic valuation of Rangers shares is? Was the last price paid not something like 27p for Ashley's shares. However it was being argued on SFM that this was a price agreed between Rangers and Ashley and contained an element of compensation for the ending of the retail deal.

[CropleyWasGod]

Who's to say what a realistic valuation of Rangers shares is? Was the last price paid not something like 27p for Ashley's shares. However it was being argued on SFM that this was a price agreed between Rangers and Ashley and contained an element of compensation for the ending of the retail deal.

The 20p has been set by the Court, as that was the price that was paid for the other shares that were bought at that time.

It's up to the offeree to decide how good an offer that is.

Personally, I'd take the money and walk away.

[Famous Fiver]

It appears King is having to make the offer.

What about the other members of the 'Concert Party', or have I got it wrong?

Do they have any obligation and if so, to what extent?

CWG, perhaps you can clarify?

[CropleyWasGod]

It appears King is having to make the offer.

What about the other members of the 'Concert Party', or have I got it wrong?

Do they have any obligation and if so, to what extent?

CWG, perhaps you can clarify?

The case was only against him. I'm not sure why the others weren't cited as well. Presumably because he was the "leader".

[Ozyhibby]

I think the takeover panel made the point that it was Kings share purchase which took them over the 30% and the others had warned him against it. I think it was Letham who dropped him in it as well by providing all the email evidence against him.


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[CropleyWasGod]

I think the takeover panel made the point that it was Kings share purchase which took them over the 30% and the others had warned him against it. I think it was Letham who dropped him in it as well by providing all the email evidence against him.


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Makes sense :agree:

[Famous Fiver]

Although the 30% level was exceeded by King this would not have happened without the involvement of the others, surely?

Therefore, how can King be treated in isolation?

To me it sounds like a ready made defence since he could argue that the others have some obligation too.

Or is that too simplistic?

[Ozyhibby]

Although the 30% level was exceeded by King this would not have happened without the involvement of the others, surely?

Therefore, how can King be treated in isolation?

To me it sounds like a ready made defence since he could argue that the others have some obligation too.

Or is that too simplistic?

There is no defence from here. He either complies or doesn’t. If he doesn’t there will be penalties.


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[HoboHarry]

Although the 30% level was exceeded by King this would not have happened without the involvement of the others, surely?

Therefore, how can King be treated in isolation?

To me it sounds like a ready made defence since he could argue that the others have some obligation too.

Or is that too simplistic?
He has no defence at this point, the proceedings are over and he has to make an offer or be in contempt of court......

[ehf]

He has no defence at this point, the proceedings are over and he has to make an offer or be in contempt of court......

Sadly, the proceedings are not over; King can appeal to the Inner House of the Court of Session and, after that, to the UK Supreme Court. He will string it out as long as he can in the hope that circumstances intervene to make it irrelevant, such as a take-over offer from a third party or another insolvency event. And he'll probably succeed.

[Tornadoes70]

Sadly, the proceedings are not over; King can appeal to the Inner House of the Court of Session and, after that, to the UK Supreme Court. He will string it out as long as he can in the hope that circumstances intervene to make it irrelevant, such as a take-over offer from a third party or another insolvency event. And he'll probably succeed.

This is very true unfortunately. However Counsel would require permission to appeal to the Supreme Court from the Inner House thereafter when the appeal if any is forthcoming.

It would be seen for exactly what it was though being a glib and shameless liar playing for time. Its what I meant earlier to CropleyWasGod that he's capable of anything really this conman.

Personally I think we will see an insolvency event whereby rending the share offer null and void.

GGTTH

[Malthibby]

This is very true unfortunately. However Counsel would require permission to appeal to the Supreme Court from the Inner House thereafter when the appeal if any is forthcoming.

It would be seen for exactly what it was though being a glib and shameless liar playing for time. Its what I meant earlier to CropleyWasGod that he's capable of anything really this conman.

Personally I think we will see an insolvency event whereby rending the share offer null and void.

GGTTH

Please please please:thumbsup:

[John_R_Corbett]

This is very true unfortunately. However Counsel would require permission to appeal to the Supreme Court from the Inner House thereafter when the appeal if any is forthcoming.

It would be seen for exactly what it was though being a glib and shameless liar playing for time. Its what I meant earlier to CropleyWasGod that he's capable of anything really this conman.

Personally I think we will see an insolvency event whereby rending the share offer null and void.

GGTTH:pray:


:xlol:santa:tree Merry Christmas :lolrangers:

[Hibernia&Alba]

This is very true unfortunately. However Counsel would require permission to appeal to the Supreme Court from the Inner House thereafter when the appeal if any is forthcoming.

It would be seen for exactly what it was though being a glib and shameless liar playing for time. Its what I meant earlier to CropleyWasGod that he's capable of anything really this conman.

Personally I think we will see an insolvency event whereby rending the share offer null and void.

GGTTH

Do you mean the formation of Third Rangers?

[John_R_Corbett]

Do you mean the formation of Third Rangers?THE, THE, THE Rongers :dunno:

[Ozyhibby]

Do you mean the formation of Third Rangers?

Unlikely. There is no external debt so a CVA is likely.


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[Hibernia&Alba]

Unlikely. There is no external debt so a CVA is likely.


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Does that mean more debt walked away from and more proclamations of 'we're still the same club', only this time there are fewer creditors?

[Tornadoes70]

Do you mean the formation of Third Rangers?

:greengrin

[CropleyWasGod]

Unlikely. There is no external debt so a CVA is likely.


Sent from my iPhone using TapatalkIf the loans are secured, they're excluded from a CVA vote. That would probably leave HMRC in control...again :)

I can't remember if they are secured, though.

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[Famous Fiver]

I am no lawyer but I am sure King will appeal since common sense suggests that he was not the only one involved.

No matter the outcome, further substantial costs will be incurred. Who will be responsible for these - King, the 'Concert Party'? and will Legal Aid be available? Who decides on what evidence that King may be eligible for Legal Aid given that one view is that he is penniless and another is that he controls a multi million pound trust?

Hmmmm.....................................

Need help from some of our learned friends methinks, or do I just not get it?

[Firestarter]

This is very true unfortunately. However Counsel would require permission to appeal to the Supreme Court from the Inner House thereafter when the appeal if any is forthcoming.

It would be seen for exactly what it was though being a glib and shameless liar playing for time. Its what I meant earlier to CropleyWasGod that he's capable of anything really this conman.

Personally I think we will see an insolvency event whereby rending the share offer null and void.

GGTTH

But, but, but we need a strong The Rangers 😌 I won't get the satisfaction watching the DVD against a third Lanark select mob. **

** lies it's coming out when the kids are away to bed Xmas day too.

[grunt]

I am no lawyer but I am sure King will appeal since common sense suggests that he was not the only one involved.I don't think that was his argument this time. I'd be surprised if he could introduce a new argument on appeal. Could of course be wrong.

[CropleyWasGod]

I don't think that was his argument this time. I'd be surprised if he could introduce a new argument on appeal. Could of course be wrong.Was about to post something similar.

The judge went on at length about DK's claims of "impecuniosity", as that was the basis of his defence.

Any appeal would probably have to provide new evidence of said impecuniosity, or show that the judge was wrong in coming to the conclusion he did, on the basis of the evidence submitted of the alleged impecuniosity.

There. A new word in my predictive text. Filed alongside quantum and concomitant.




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[Deansy]

The emails between Letham and King were damning evidence of them being fully aware of the 30 per cent trigger. They knew what they were about yet chose to leave a trail of evidence. I can't understand for the life of me why they would knowingly seek to bypass the rules yet do it so openly leaving them bang to rights. Total amateurs who deserved to be caught out and to be served up the consequences.

Cropleywasgod was correct on here a few months ago when surmising Kings defence of claiming poverty was irrelevant. Lord Bannatyne made that very point in his Judgement.

This is great news. King is an out and out liar and conman. He's been caught with his pants down so to speak and I hope he's contemplating exiting Scottish Football right now.

GGTTH

God - NO !!. The longer he's there, the more damage he's doing to them - the more damage to them, the more benefit to Scottish Football (and comedy !!!!) !!

[greenginger]

If the loans are secured, they're excluded from a CVA vote. That would probably leave HMRC in control...again :)

I can't remember if they are secured, though.

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The only security on the Rangers assets is held by the Scottish Sports Council for past funds put in the club infrastructure.

But, IIRC its connected creditors who don't get to vote on the second count of votes at a CVA ( that's if the administrators remember to have one :greengrin )

I don't know if being part of a concert party with a majority holding makes King, Park and friends all connected creditors.

[CropleyWasGod]

The only security on the Rangers assets is held by the Scottish Sports Council for past funds put in the club infrastructure.

But, IIRC its connected creditors who don't get to vote on the second count of votes at a CVA ( that's if the administrators remember to have one :greengrin )

I don't know if being part of a concert party with a majority holding makes King, Park and friends all connected creditors.If they are loans from directors, they are connected in Company and Tax law. Not sure about Insolvency law though.

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[Pescarese]

Was about to post something similar.

The judge went on at length about DK's claims of "impecuniosity", as that was the basis of his defence.

Any appeal would probably have to provide new evidence of said impecuniosity, or show that the judge was wrong in coming to the conclusion he did, on the basis of the evidence submitted of the alleged impecuniosity.

There. A new word in my predictive text. Filed alongside quantum and concomitant.




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The judge basically says that even in TLK is skint (and he doesn’t agree that he is), that’s irrelevant. He knew what he was doing when he bought the shares, so he has to offer to buy others out at the same price. It’s then for shareholders to decide whether to accept TLK’s offer, and for him to decide how he pays up. I suppose if the shares are worth what he claims (he says much more than the 20p he’s been told to offer), he could sell a few of his own.

[jacomo]

Unlikely. There is no external debt so a CVA is likely.


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If the directors get bored of propping up the company then external debts might rack up quite quickly.

[ehf]

The judge basically says that even in TLK is skint (and he doesn’t agree that he is), that’s irrelevant. He knew what he was doing when he bought the shares, so he has to offer to buy others out at the same price. It’s then for shareholders to decide whether to accept TLK’s offer, and for him to decide how he pays up. I suppose if the shares are worth what he claims (he says much more than the 20p he’s been told to offer), he could sell a few of his own.

In the world of corporate finance and M&A transactions, these offers are invariably funded by banks and others lenders; the fact that King can't afford to fund it himself (even if it were true) should be irrelevant.

[gordonced18]

All the mentions of a concert party but no word on the songs they were singing.... We could all hazard a guess though!! [emoji119][emoji119]☺

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[Bostonhibby]

I think the takeover panel made the point that it was Kings share purchase which took them over the 30% and the others had warned him against it. I think it was Letham who dropped him in it as well by providing all the email evidence against him.


Sent from my iPhone using TapatalkDo you think all of this could have been avoided if Letham had decided to move on earlier?

I'll get my coat.

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[Eyrie]

If King is correct about the current share price being higher than 20p, surely he should offer 20p in the knowledge that there would be very few takers and he'd then be in the clear?

If he drags this out by appealing, then he could well find that the price is lower than 20p and everyone will be queueing up to cash in.

[Marco G]

If King is correct about the current share price being higher than 20p, surely he should offer 20p in the knowledge that there would be very few takers and he'd then be in the clear?

If he drags this out by appealing, then he could well find that the price is lower than 20p and everyone will be queueing up to cash in.Think he has to put the 11 million into an account to cover possible uptake, and that is his problem, so his defence was "he is broke".

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[Tornadoes70]

If King is correct about the current share price being higher than 20p, surely he should offer 20p in the knowledge that there would be very few takers and he'd then be in the clear?

If he drags this out by appealing, then he could well find that the price is lower than 20p and everyone will be queueing up to cash in.

Somehow I've just got this nagging feeling call it intuition if you like that not one penny of the 'children's inheritance' will be spent on setting up and initiating a share offer at 20p each.

He's now the subject of case law precedence in avoiding what was a rightful order from the Takeover Panel. Anyone willing to stretch this far is in my opinion not someone who's interested in following Court Orders.

The Dave King's of this world simply just don't think normal rules apply to them.

GGTTH

[Pescarese]

Think he has to put the 11 million into an account to cover possible uptake, and that is his problem, so his defence was "he is broke".

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Yep, it costs him serious money to make the offer. And the shares are only traded on a “matched” basis, so there’s a fair chance some “investors” will see an opportunity to get out. Pleasing !

[Pescarese]

Somehow I've just got this nagging feeling call it intuition if you like that not one penny of the 'children's inheritance' will be spent on setting up and initiating a share offer at 20p each.

He's now the subject of case law precedence in avoiding what was a rightful order from the Takeover Panel. Anyone willing to stretch this far is in my opinion not someone who's interested in following Court Orders.

The Dave King's of this world simply just don't think normal rules apply to them.

GGTTH
My feeling too. Which will give the football authorities one hell of a headache.

[Tornadoes70]

My feeling too. Which will give the football authorities one hell of a headache.

Absolutely.

I had s certain inclination Lord Bannatyne would find in favor of the panel. Authorities rules are there for a purpose with them taking a dim view of those who purport to circumvent them. The TP acted very rapidly when approaching the COS to enforce its decision against the gasl and he was fortunate the case was held in the Outer House rather than the Inner House that leaves scope for appeal to the Inner House in the first instance.

However if he does appeal I do not think the Lords will be so ready to reserve the costs next time around and they certainly won't allow permission to appeal to the Superior Supreme Court when the Inner House appeal fails if forthcoming. No Counsel with credibility would approach the Supreme Court having failed in the COS especially without being granted permission to appeal.

He's a dead duck in the water so to speak.

Lord Bannatyne was thorough in his Judgement and its extremely doubtful any appeal would succeed.

GGTTH

[Pescarese]

Absolutely.

I had s certain inclination Lord Bannatyne would find in favor of the panel. Authorities rules are there for a purpose with them taking a dim view of those who purport to circumvent them. The TP acted very rapidly when approaching the COS to enforce its decision against the gasl and he was fortunate the case was held in the Outer House rather than the Inner House that leaves scope for appeal to the Inner House in the first instance.

However if he does appeal I do not think the Lords will be so ready to reserve the costs next time around and they certainly won't allow permission to appeal to the Superior Supreme Court when the Inner House appeal fails if forthcoming. No Counsel with credibility would approach the Supreme Court having failed in the COS especially without being granted permission to appeal.

He's a dead duck in the water so to speak.

Lord Bannatyne was thorough in his Judgement and its extremely doubtful any appeal would succeed.

GGTTH
The Outer House only reserved costs because GASL won one of his two arguments, though not the one that matters. The judge will invite the two parties to say anything further they want before deciding what order to make. I can’t see how King can avoid an order to pay the costs. Appeal looks a waste of more money on his part to me, but maybe delay matters to him. We’ll know soon.

[sadtom]

I wont even pretend to know the implications of much of the recent information.
Can i ask all the contributors who appear to have a much better handle on what is going on to give a laymans summery. ie Could this be the 'headshot' that is required to kill off the Zombie incarnation of derhun?
And what is the chance it could happen in 360 pages (of this thread) time? Be kinda sweet to see it end where it started...so to speak. :greengrin

[Tornadoes70]

The Outer House only reserved costs because GASL won one of his two arguments, though not the one that matters. The judge will invite the two parties to say anything further they want before deciding what order to make. I can’t see how King can avoid an order to pay the costs. Appeal looks a waste of more money on his part to me, but maybe delay matters to him. We’ll know soon.

Correct. The main matter was very obviously the TP seeking the court order enforcing its decision. As Counsel's presence were not required for a hearing there was no opportunity to present a motion at the bar seeking costs with the costs instead being reserved. It may well be if the gasl now complies the costs will remain as they are. If any appeal is forthcoming you can be certain when he loses that one all costs will then fall upon the gasl. Costs are always the remit of the Judge and sometimes used as a tool to ensure compliance.

[CropleyWasGod]

I wont even pretend to know the implications of much of the recent information.
Can i ask all the contributors who appear to have a much better handle on what is going on to give a laymans summery. ie Could this be the 'headshot' that is required to kill off the Zombie incarnation of derhun?
And what is the chance it could happen in 360 pages (of this thread) time? Be kinda sweet to see it end where it started...so to speak. :greengrin

The extent of the seriousness of the "headshot" depends on the extent of DK's impecuniosity. If he's unable to fund both the share offer (and, as i understand it, he has to put the funds in a separate account before any offer is made) and the short-term loans to RFC, the latter will suffer.

My gut feeling is that, in common with previous behaviour, he and RFC will play French cricket for the time being. DK will put the required loans into RFC, and keep the appeal process going until the fabled Share Issue happens.

[Mr White]

The extent of the seriousness of the "headshot" depends on the extent of DK's impecuniosity. If he's unable to fund both the share offer (and, as i understand it, he has to put the funds in a separate account before any offer is made) and the short-term loans to RFC, the latter will suffer.

My gut feeling is that, in common with previous behaviour, he and RFC will play French cricket for the time being. DK will put the required loans into RFC, and keep the appeal process going until the fabled Share Issue happens.

Word of the day so far by a mile.
















What does it mean? :greengrin

[CropleyWasGod]

Word of the day so far by a mile.
















What does it mean? :greengrin

The judge in DK's case used it a lot. It means to be boracic lint. :greengrin

[Hibernia&Alba]

The judge in DK's case used it a lot. It means to be boracic lint. :greengrin

Aye, but did the judge use concomitant?

[Bostonhibby]

Aye, but did the judge use concomitant?

Think he said GASL was a cockwomble, whatever that is, obviously one of those obscure latin phrases that means potless.

[Ozyhibby]

The extent of the seriousness of the "headshot" depends on the extent of DK's impecuniosity. If he's unable to fund both the share offer (and, as i understand it, he has to put the funds in a separate account before any offer is made) and the short-term loans to RFC, the latter will suffer.

My gut feeling is that, in common with previous behaviour, he and RFC will play French cricket for the time being. DK will put the required loans into RFC, and keep the appeal process going until the fabled Share Issue happens.

I don’t think they can have a share issue until King has offered the current shareholders their 20p.


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[CropleyWasGod]

I don’t think they can have a share issue until King has offered the current shareholders their 20p.


Sent from my iPhone using TapatalkWhat about the conversion of the loans to shares? Are they able to do that?

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[Ozyhibby]

What about the conversion of the loans to shares? Are they able to do that?

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I would think he would be allowed to do anything that would affect the value of existing shareholders shares. The whole point of these takeover rules is to protect small shareholders. I have no idea of the actual rules though, just trying to think it through logically.


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[Smartie]

Forgetting about all the off-field stuff for a minute, that's a honking result for them today.

If their very existence depends on European football, their biggest problem is surely the fact that their team may struggle to qualify for Europe, let alone qualify for any group stages.

[Jack Hackett]

Forgetting about all the off-field stuff for a minute, that's a honking result for them today.

If their very existence depends on European football, their biggest problem is surely the fact that their team may struggle to qualify for Europe, let alone qualify for any group stages.

There's no 'may' about it for me. Lucked out against us and been dire since. No money to improve playing staff and a cheap option manager. How these c**** are 3rd is a mystery

[grunt]

King to appeal

https://twitter.com/andynewportpa/status/944638898185146368


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[Tornadoes70]

King to appeal

https://twitter.com/andynewportpa/status/944638898185146368


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This is comedy gold.

As I speculated upon earlier this conman doesn't believe the rules apply to him. He has no chance of success and all it demonstrates is that he has zero intent to initiate the share offer no matter if the Supreme Court the highest court in the UK ordered him to.

If it turns out to be true that he intends to appeal the case of course.

Makes for terrific viewing for all of us though.

:greengrin

[Pescarese]

King to appeal

https://twitter.com/andynewportpa/status/944638898185146368


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He can’t seriously expect to win an appeal - even the Rangers’ defence played better today than his defence did. But if he can’t make the offer to buy shares within 30 days he’s in contempt. So he’d appeal to get more time. I wonder where this leaves the debt to shares idea - he can’t want anything that devalues the shares.

[HoboHarry]

I think he is applying for permission to appeal

[pacorosssco]

most likely a delay tactic only to give chance to get money together but shows not a solvent cash cow as he would have them believe. most likely will be trying to secure dosh outside investment

[Tornadoes70]

most likely a delay tactic only to give chance to get money together but shows not a solvent cash cow as he would have them believe. most likely will be trying to secure dosh outside investment

Don't think this is very likely. Appeals accumulate costs and if this one fails which looks very likely as Lord Bannatyne deliberated for some time and produced a thorough exhaustive Judgement and If he runs an appeal that fails he will be very probably then be landed with the costs of the whole case that will be considerable.

If it is simply a case of seeking more time to comply his Counsel could seek more time from Lord Bannatyne at a hearing.