Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

https://uploads.tapatalk-cdn.com/20180221/44a2658ef4f51d667f3f689c45f6d85b.jpg

CWG, what’s the dif between a floating and a fixed charge?


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A floating charge is normally a charge over all of a company's assets or, as in this case, a group of them. A fixed charge is a charge over a specific asset.

A floating charge can become fixed (as long as the agreement allows for it) if there is a default.

[ancient hibee]

There’s one thing sure under a floating charge ,unless the assets are nailed down they’ll have disappeared like snow off a dyke just when the lender is getting nervous.

[stantonhibby]

A floating charge is normally a charge over all of a company's assets or, as in this case, a group of them. A fixed charge is a charge over a specific asset.

A floating charge can become fixed (as long as the agreement allows for it) if there is a default.


A floating charge allows a secured creditor to appoint an administrator doesn't it ?

[Ozyhibby]

A floating charge allows a secured creditor to appoint an administrator doesn't it ?

Going by that document it does appear to put them in control of any admin.


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[HoboHarry]

I wonder if it's fair to say that the leading figures at top of the marble staircase at Ibrox have removed themselves from the line of fire of their fans if it does go breasts skywards? Close will be the ones getting the blame from Scotland's compliant media.....

[Deansy]

I wonder if it's fair to say that the leading figures at top of the marble staircase at Ibrox have removed themselves from the line of fire of their fans if it does go breasts skywards? Close will be the ones getting the blame from Scotland's compliant media.....

My thoughts, too - basically crooks substituted with different crooks so that no-one will know which crook to blame when the ****-hits-the-fan !. Though no doubt our glorious 'media' will be able to point the finger accurately ................................. :faf:

[Haymaker]

If the league is won before the end of the season... Admin 2?

[greenginger]

Going by that document it does appear to put them in control of any admin.


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I love that the documents were signed for by Close Brothers by a Mr Benedict O'Mahony. :greengrin

[Geo_1875]

I love that the documents were signed for by Close Brothers by a Mr Benedict O'Mahony. :greengrin

Would have been funnier if it was Fr Benedict O'Mahony

[Ronniekirk]

They will muddle through somehow now i think Unless they have a collapse in form that sees them finish outside the top four and no European spot
The Scottish Cup draws have ensured more income and if they somehow managed to get to the final that income will probably help keep the wolf from the door


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[Geo_1875]

They will muddle through somehow now i think Unless they have a collapse in form that sees them finish outside the top four and no European spot
The Scottish Cup draws have ensured more income and if they somehow managed to get to the final that income will probably help keep the wolf from the door


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It's not the wolf at the door that will bring them down it's the bears in the boadroom.

[Ozyhibby]

They will muddle through somehow now i think Unless they have a collapse in form that sees them finish outside the top four and no European spot
The Scottish Cup draws have ensured more income and if they somehow managed to get to the final that income will probably help keep the wolf from the door


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There are a few variable still to be thrown in the mix. They badly need a share issue and they can’t do that while Dave King is being chased by the TPA.


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[Ronniekirk]

There are a few variable still to be thrown in the mix. They badly need a share issue and they can’t do that while Dave King is being chased by the TPA.


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I thought they would of been desperate to get the Share issue done and dusted before the New Season Started to help rebuild the Team among other things
Makes you wonder if King is up to something else in the background


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[Ozyhibby]

I thought they would of been desperate to get the Share issue done and dusted before the New Season Started to help rebuild the Team among other things
Makes you wonder if King is up to something else in the background


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They are not allowed to have one while the tpa ruling stands.


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[Ronniekirk]

They are not allowed to have one while the tpa ruling stands.


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When does that get resolved ie before start of next season


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[CropleyWasGod]

Does anyone know anything about Edmiston House?

IIRC, it's unoccupied, perhaps derelict.

According to the charge document, it was bought for £800k. The land is surely worth a good deal more than that, so maybe Close Brothers have their eye on it.

Indeed, why wouldn't (or can't) RFC just sell it?

[Is It On....]

There are a few variable still to be thrown in the mix. They badly need a share issue and they can’t do that while Dave King is being chased by the TPA.


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I would have thought that the share issue, whenever / if it comes, would be to pay off director loans which means that it has effectively already been spent and won't provide the war chest that the "fans" are hoping for 😎

[JimBHibees]

Does anyone know anything about Edmiston House?

IIRC, it's unoccupied, perhaps derelict.

According to the charge document, it was bought for £800k. The land is surely worth a good deal more than that, so maybe Close Brothers have their eye on it.

Indeed, why wouldn't (or can't) RFC just sell it?

Is that not the supporters club?

[CropleyWasGod]

I would have thought that the share issue, whenever / if it comes, would be to pay off director loans which means that it has effectively already been spent and won't provide the war chest that the "fans" are hoping for 😎

:agree: As things stand, they are the only people who would be interested in taking up shares. RFC are not the business they were, so there would be little desire from external funds etc to get involved.

[ballengeich]

:agree: As things stand, they are the only people who would be interested in taking up shares. RFC are not the business they were, so there would be little desire from external funds etc to get involved.

They'll get a limited cash injection of whatever amount Club 1872 is holding at the time of the issue. Other than that they can only hope that there are further wealthy bears with money to donate.

[Hibs4185]

Close brothers provide finance for a lot of car dealerships and aren’t the worst lenders. They offer short term finance for property developers and other commercial businesses.

Rates would be roughly 0.7% to 1.5% per month depending on the business.

Loans usually are about 60% loan to value max.

its absolute desperation by Rangers that they have had to give security over their PA system, catering equipment, screens in Ibrox and the stadium WiFi equipment.

For a loan of £3million, they would have needed assets of £5 million.

if you gave them a good asset, ie a house in morningside worth £5 million that close brothers could sell easily then the loan would be less onerous. Given its second hand equipment, a derelict building and other bits I’d imagine the loan is quite costly.

They’ve went all out in January to secure European football. European football will bring £7-10 million and sort them out. If they don’t qualify for Europe then sit back and watch the comedy unfold.

please hibs and Aberdeen finish second and third, and Motherwell or someone outside the top 3 (except the rust merchants) win the cup!

[CropleyWasGod]

Close brothers provide finance for a lot of car dealerships and aren’t the worst lenders. They offer short term finance for property developers and other commercial businesses.

Rates would be roughly 0.7% to 1.5% per month depending on the business.

Loans usually are about 60% loan to value max.

its absolute desperation by Rangers that they have had to give security over their PA system, catering equipment, screens in Ibrox and the stadium WiFi equipment.

For a loan of £3million, they would have needed assets of £5 million.

if you gave them a good asset, ie a house in morningside worth £5 million that close brothers could sell easily then the loan would be less onerous. Given its second hand equipment, a derelict building and other bits I’d imagine the loan is quite costly.

They’ve went all out in January to secure European football. European football will bring £7-10 million and sort them out. If they don’t qualify for Europe then sit back and watch the comedy unfold.

please hibs and Aberdeen finish second and third, and Motherwell or someone outside the top 3 (except the rust merchants) win the cup!

The charge document shows almost exactly that. The assets being used had an initial cost of £5.5m.

[Moulin Yarns]

Does anyone know anything about Edmiston House?

IIRC, it's unoccupied, perhaps derelict.

According to the charge document, it was bought for £800k. The land is surely worth a good deal more than that, so maybe Close Brothers have their eye on it.

Indeed, why wouldn't (or can't) RFC just sell it?

probably not relevant, but it was security for loans in 2014

http://www.cityam.com/blog/1393256213/rangers-puts-its-iconic-edminson-house-line

[JimBHibees]

Close brothers provide finance for a lot of car dealerships and aren’t the worst lenders. They offer short term finance for property developers and other commercial businesses.

Rates would be roughly 0.7% to 1.5% per month depending on the business.

Loans usually are about 60% loan to value max.

its absolute desperation by Rangers that they have had to give security over their PA system, catering equipment, screens in Ibrox and the stadium WiFi equipment.

For a loan of £3million, they would have needed assets of £5 million.

if you gave them a good asset, ie a house in morningside worth £5 million that close brothers could sell easily then the loan would be less onerous. Given its second hand equipment, a derelict building and other bits I’d imagine the loan is quite costly.

They’ve went all out in January to secure European football. European football will bring £7-10 million and sort them out. If they don’t qualify for Europe then sit back and watch the comedy unfold.

please hibs and Aberdeen finish second and third, and Motherwell or someone outside the top 3 (except the rust merchants) win the cup!

Surely only if they qualify for the group stage which given the quality of team they are likely to have to get past is probably unlikely anyway..

[Ozyhibby]

Does anyone know anything about Edmiston House?

IIRC, it's unoccupied, perhaps derelict.

According to the charge document, it was bought for £800k. The land is surely worth a good deal more than that, so maybe Close Brothers have their eye on it.

Indeed, why wouldn't (or can't) RFC just sell it?

Edmiston house is unoccupied, derelict and riddled with asbestos.


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[ballengeich]

They’ve went all out in January to secure European football. European football will bring £7-10 million and sort them out. If they don’t qualify for Europe then sit back and watch the comedy unfold.

please hibs and Aberdeen finish second and third, and Motherwell or someone outside the top 3 (except the rust merchants) win the cup!

The other important source of money in the summer will be transfer fees. A profit of even £3 million in the next window would make the season's financial prospect a lot less bleak.

[Ozyhibby]

Close brothers provide finance for a lot of car dealerships and aren’t the worst lenders. They offer short term finance for property developers and other commercial businesses.

Rates would be roughly 0.7% to 1.5% per month depending on the business.

Loans usually are about 60% loan to value max.

its absolute desperation by Rangers that they have had to give security over their PA system, catering equipment, screens in Ibrox and the stadium WiFi equipment.

For a loan of £3million, they would have needed assets of £5 million.

if you gave them a good asset, ie a house in morningside worth £5 million that close brothers could sell easily then the loan would be less onerous. Given its second hand equipment, a derelict building and other bits I’d imagine the loan is quite costly.

They’ve went all out in January to secure European football. European football will bring £7-10 million and sort them out. If they don’t qualify for Europe then sit back and watch the comedy unfold.

please hibs and Aberdeen finish second and third, and Motherwell or someone outside the top 3 (except the rust merchants) win the cup!

You have to get to the group stages to get that kind of money.


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[Hibs4185]

You have to get to the group stages to get that kind of money.


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I think they’ll make the same sort of Progres as last year!

Its pretty clear that the directors soft loans have dried up and I’ve never believed King had the cash needed. If they are taking costly loans already then I can’t possibly see any other way back for them.

Needing £7 million to stay afloat. High earners unlikely to leave. Morelos story is a lot of nonsense and a lot of loan players needing bought or replaced.

It it looks like they’ve bet everything on Europe. An admin event when they don’t qualify for the European group stages would allow them to get rid of some players and clear the decks.

Group stages or admin is my bet. Be nice if we finished third and helped them down the admin road!

[CropleyWasGod]

Edmiston house is unoccupied, derelict and riddled with asbestos.


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Cheers. So the clearance costs would put off a developer.

[Ozyhibby]

Cheers. So the clearance costs would put off a developer.

That and it’s next to Ibrox and the sevconians would be pretty resentful.


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[CropleyWasGod]

That and it’s next to Ibrox and the sevconians would be pretty resentful.


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I meant the costs of clearing the area of Sevconians. :greengrin

[Ozyhibby]

I meant the costs of clearing the area of Sevconians. :greengrin

https://uploads.tapatalk-cdn.com/20180222/a6cb99ccff1e3c8b3dca886c2154f066.jpg
Big job[emoji23]



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[Topographic Hibby]

Would have been funnier if it was Fr Benedict O'Mahony....and was an ecumenical matter.

[Hibs4185]

I meant the costs of clearing the area of Sevconians. :greengrin

you’d need rick from the walking dead to deal with all the zombies

[CropleyWasGod]

King's appeal is tomorrow. Doleman has been given permission to live Tweet.

Somebody will get a beasting in the East.

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[Spike Mandela]

King's appeal is tomorrow. Doleman has been given permission to live Tweet.

Somebody will get a beasting in the East.

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How long can King string it out?

[CropleyWasGod]

How long can King string it out?


Pretty sure he could go to the UK Supreme Court after this. In some ways, that may be a more appropriate place to decide his case, as the TP is a UK institution.

My money's on a postponement due to the fact that he/the TP/Doleman are snowbound.

[HoboHarry]

Pretty sure he could go to the UK Supreme Court after this. In some ways, that may be a more appropriate place to decide his case, as the TP is a UK institution.

My money's on a postponement due to the fact that he/the TP/Doleman are snowbound.
Damn well hope not. I want to see if getting rodgered by the TP makes King even more squinty eyed than he already is.......

[Ozyhibby]

I think tomorrow will be the end of it. I can’t see him getting permission to take such a flimsy case to the Supreme Court.



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[Smartie]

What (or who) is the TP?

[HoboHarry]

What (or who) is the TP?
Takeover Panel

[CropleyWasGod]

What (or who) is the TP?

The People :rolleyes:

[snooky]

I think they’ll make the same sort of Progres as last year!

Its pretty clear that the directors soft loans have dried up and I’ve never believed King had the cash needed. If they are taking costly loans already then I can’t possibly see any other way back for them.

Needing £7 million to stay afloat. High earners unlikely to leave. Morelos story is a lot of nonsense and a lot of loan players needing bought or replaced.

It it looks like they’ve bet everything on Europe. An admin event when they don’t qualify for the European group stages would allow them to get rid of some players and clear the decks.

Group stages or admin is my bet. Be nice if we finished third and helped them down the admin road!

A-ha :idea: that's why it was a penalty when the ball hit Porteous's arm.

[CropleyWasGod]

Doleman has been snowed off.

We need a volunteer....

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[Ozyhibby]

Doleman has been snowed off.

We need a volunteer....

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Wimp. I’m already in the office, although it’s only two doors from my house. [emoji3]


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[CropleyWasGod]

http://www.heraldscotland.com/news/16053063.Ex_Rangers_execs_finally_in_the_clear_as_ club_takeover_fraud_case_ends_with_no_convictions/

[Radium]

https://uploads.tapatalk-cdn.com/20180228/3984be893b9affba87c757ecc59bfc7e.jpg

The final instalment of the transfer story is released...


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[Jack Hackett]

http://www.heraldscotland.com/news/16053063.Ex_Rangers_execs_finally_in_the_clear_as_ club_takeover_fraud_case_ends_with_no_convictions/

Yet another site who want to block ad blockers...

... F*** 'em!

[Crazyhorse]

https://uploads.tapatalk-cdn.com/20180228/3984be893b9affba87c757ecc59bfc7e.jpg

The final instalment of the transfer story is released...


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Didn't see that coming....

[Aim Here]

https://uploads.tapatalk-cdn.com/20180228/3984be893b9affba87c757ecc59bfc7e.jpg

The final instalment of the transfer story is released...


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Waitwaitwait. The record is describing this M*ngolian guy as a striker, while transfermarkt suggests he's a left-back (4 goals in 58 appearances) with a market value of about €100K whose career consisted entirely of being a free agent (he's 26 years old) until about 2 years ago. That's the guy that Beijing went with instead of spending £6 or 7 or 8 million on Morelos? I've no idea about how good this guy is, but they hardly sound like drop-in replacements for each other.

The Daily Record seems to want us to believe that football clubs in China are so mysterious and inscrutable that they'd be happy to go out shopping for a Ferrari and come back with a combine harvester.

There is a second guy mentioned - some Chinese midfielder who has been shipped from Metz B to some Luxembourg team (the only place he's had significant game time) to some team in the Portuguese 2nd Division on free transfers. Hardly seems like the guy that'll be eating into this £7 million they were due to spend on Morelos either.

[Ozyhibby]

SFM‏ @TheSFMonitor17m17 minutes ago
Lord Davidson arguing for Dave King. Lords Carloway, Glennie & Drummond-Young hearing appeal.—————

SFM‏ @TheSFMonitor16m16 minutes ago
Davidson’s pitch basically is that the Bannatyne went too far, too fast in making decision. Should have asked for more info on NOAL and King’s finances.
—————

SFM‏ @TheSFMonitor13s14 seconds ago
David Johnston QC for ToP arguing along the lines of Lord Bannatyne in the CoS. Lord Glennie demonstrating a firm grasp of matters. Adjourned until 2pm.


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[Ozyhibby]

King’s appeal rejected


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[green day]

King’s appeal rejected


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So, practically what does this mean? He needs to pony up cash he doesnt have?

[JeMeSouviens]

So, practically what does this mean? He needs to pony up cash he doesnt have?

To comply with the ruling he needs to offer all other NewHun shareholders 20p/share which means he has to have £11M (I think) ready to go. You wouldn't imagine they'd all take him up on it but ...

In practical terms I think it's more likely the Good (!) ship Sevco will sail on with the King pushed overboard. :na na:

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20180228/af1a05f8473754befa9775a435edbdb8.jpg


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[greenginger]

https://uploads.tapatalk-cdn.com/20180228/3984be893b9affba87c757ecc59bfc7e.jpg

The final instalment of the transfer story is released...


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Who is the *****lian the Chinese are signing ?

Attilla the Hun ! :greengrin

[Tynie01011973]

Who is the *****lian the Chinese are signing ?

Attilla the Hun ! :greengrin

Their two signings

https://www.transfermarkt.co.uk/nizamdin/profil/spieler/425173

https://www.transfermarkt.co.uk/chu-wang/profil/spieler/235976

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20180228/0d80deb0ee1f45fcfc5fa7b2e02bf255.jpg


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[Ozyhibby]

As posted by Easyjambo on the SFM website.
—————————
Lords Carloway, Glennie and Drummond-Young heard the appeal.

King was represented as before by Lord Davidson QC and TOP by David Johnston QC.

LD set out six points he wished to raise with the Court as his ground for appeal.
1, That the Court had discretion to do what they wanted rather than just seek compliance
2. The impecunious position of King
3. The reliance of the Lord Ordinary (Bannatyne) on it being in the public interest.
4. That Lord Banatyne went to far and too fast in coming to his conclusion based on the information available to him and that other avenues were open to him.
5. Enforcement served no practical purpose if the individual was unable to comply.
6. That the enforcement action should be dismissed (although he had a fallback position of asking that the matter be referred back to the Lord Ordinary for further proofs)

The above entailed highlighting the same arguments that he placed in front of Lord Bannatyne. He sought to obfuscate matters arguing on the basis of the meaning of words, e.g. “causing” NOAL to do some thing wasn’t the same as having “control”. He even described his own submissions as “excessively linguistic”

Lord Glennie in particular was quick to interject on a number of points, not least that there was no challenge made to the TOP and TAB findings themselves, only Lord Bannatyne’s decision.

In response David Johnston’s arguments were basically a reiteration of Lord Banantyne’s decision. He accepted a suggestion from Lord Carloway that the interlocutor should be amended to allow King or NOAL to make the offer, if the Court was so minded.

Proceedings ended just after lunch when Lord Davidson revealed that King had sent an email to the RIFC Board at 10:15 this morning to advise them that NOAL would make the share purchase offer if the decision went against him.

Lord Glennie immediately responded that such an offer would suggest that the impecunious argument was wrong.

TOP’s Counsel had nothing to add, so the three Lords entered a huddle for 30 seconds, before announcing the the reclaiming motion (appeal) was rejected and the interlocutor(as amended) would stand.




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[lapsedhibee]

Lord Glennie immediately responded that such an offer would suggest that the impecunious argument was wrong.

:faf:

[Tomsk]

As posted by Easyjambo on the SFM website.
—————————
Lords Carloway, Glennie and Drummond-Young heard the appeal.

King was represented as before by Lord Davidson QC and TOP by David Johnston QC.

LD set out six points he wished to raise with the Court as his ground for appeal.
1, That the Court had discretion to do what they wanted rather than just seek compliance
2. The impecunious position of King
3. The reliance of the Lord Ordinary (Bannatyne) on it being in the public interest.
4. That Lord Banatyne went to far and too fast in coming to his conclusion based on the information available to him and that other avenues were open to him.
5. Enforcement served no practical purpose if the individual was unable to comply.
6. That the enforcement action should be dismissed (although he had a fallback position of asking that the matter be referred back to the Lord Ordinary for further proofs)

The above entailed highlighting the same arguments that he placed in front of Lord Bannatyne. He sought to obfuscate matters arguing on the basis of the meaning of words, e.g. “causing” NOAL to do some thing wasn’t the same as having “control”. He even described his own submissions as “excessively linguistic”

Lord Glennie in particular was quick to interject on a number of points, not least that there was no challenge made to the TOP and TAB findings themselves, only Lord Bannatyne’s decision.

In response David Johnston’s arguments were basically a reiteration of Lord Banantyne’s decision. He accepted a suggestion from Lord Carloway that the interlocutor should be amended to allow King or NOAL to make the offer, if the Court was so minded.

Proceedings ended just after lunch when Lord Davidson revealed that King had sent an email to the RIFC Board at 10:15 this morning to advise them that NOAL would make the share purchase offer if the decision went against him.

Lord Glennie immediately responded that such an offer would suggest that the impecunious argument was wrong.

TOP’s Counsel had nothing to add, so the three Lords entered a huddle for 30 seconds, before announcing the the reclaiming motion (appeal) was rejected and the interlocutor(as amended) would stand.




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30 seconds! Well, at least they gave it all the fullest consideration it deserved.

[Ronniekirk]

As posted by Easyjambo on the SFM website.
—————————
Lords Carloway, Glennie and Drummond-Young heard the appeal.

King was represented as before by Lord Davidson QC and TOP by David Johnston QC.

LD set out six points he wished to raise with the Court as his ground for appeal.
1, That the Court had discretion to do what they wanted rather than just seek compliance
2. The impecunious position of King
3. The reliance of the Lord Ordinary (Bannatyne) on it being in the public interest.
4. That Lord Banatyne went to far and too fast in coming to his conclusion based on the information available to him and that other avenues were open to him.
5. Enforcement served no practical purpose if the individual was unable to comply.
6. That the enforcement action should be dismissed (although he had a fallback position of asking that the matter be referred back to the Lord Ordinary for further proofs)

The above entailed highlighting the same arguments that he placed in front of Lord Bannatyne. He sought to obfuscate matters arguing on the basis of the meaning of words, e.g. “causing” NOAL to do some thing wasn’t the same as having “control”. He even described his own submissions as “excessively linguistic”

Lord Glennie in particular was quick to interject on a number of points, not least that there was no challenge made to the TOP and TAB findings themselves, only Lord Bannatyne’s decision.

In response David Johnston’s arguments were basically a reiteration of Lord Banantyne’s decision. He accepted a suggestion from Lord Carloway that the interlocutor should be amended to allow King or NOAL to make the offer, if the Court was so minded.

Proceedings ended just after lunch when Lord Davidson revealed that King had sent an email to the RIFC Board at 10:15 this morning to advise them that NOAL would make the share purchase offer if the decision went against him.

Lord Glennie immediately responded that such an offer would suggest that the impecunious argument was wrong.

TOP’s Counsel had nothing to add, so the three Lords entered a huddle for 30 seconds, before announcing the the reclaiming motion (appeal) was rejected and the interlocutor(as amended) would stand.




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Three Lords entering a Huddle Surprised King hasn't made an issue of this [emoji849]


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[Billy Whizz]

Who’s paying for all these costs

[southsider]

Three Lords entering a Huddle Surprised King hasn't made an issue of this [emoji849]


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A hurdle ? Tim Lords at work. Lol

[Ozyhibby]

Who’s paying for all these costs

King will be paying his own although I’m sure he will find a way to pass on to the sevconians.


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[Famous Fiver]

30 seconds!!!

and it can take 5 minutes for VAR to decide on a decision.....

Frivolous appeal anyone? Should financial penalty be imposed for wasting the courts time? I don't imagine such an august gathering of lords, even in this gig economy, would come cheap.

[Ozyhibby]

https://twitter.com/bbcdouglasf/status/968953461755826177?s=21


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[Ozyhibby]

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-43231582


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[Is It On....]

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-43231582


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"Lawyers for the South African had argued that a judge went "too far" in ruling against him." Love the arrogance of the man but my favourite bit is "Lord Bannatyne held that Mr King's argument that he does not have the funds to make the offer was "irrelevant"."

[Is It On....]

The TP and DK

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Can you remind me how much the Directors loans are?

[Ozyhibby]

https://philmacgiollabhain.ie/2018/02/28/a-very-bad-day-for-mr-king-and-sevco/


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[Tornadoes70]

Who’s paying for all these costs

The rule of thumb is that the loser pays the entire costs of the case regardless of the loser's ability to pay. It is a matter for the Judges who have a modicum of discretion however the costs are a contest between the parties in dispute and the loser pays. Its one of the reasons why so few folk without resources are able to seek justice as costs are an enormous hurdle for them when taking the decision to pursue a case. If you can't obtain legal aid or no win no lose representation its impossible to win a case going forward as a Party Litigant which is the terminology for folk pursuing a case by themselves. Party Litigants often find themselves entering bankruptcy in order to avoid later costs as the establishment do not like Party Litigants and I've yet to hear of any Party Litigant having success as the Court of Session does not keep records on this highly contentious issue. Its a closed shop in reality. Its a feat in itself merely having the nous to provide the necessary substantial mostly complex paperwork that the vast majority of ordinary folk would have great difficulty in understanding never mind completing to a competent standard but that's exactly how they want it to be as they prefer the well spoken educated Counsel to doff their caps to the Lords who are mostly out of touch and elitist establishment snobs.

I'd be very surprised if the TP doesn't lodge a motion for costs to be awarded against King or they may already have at the bar just prior to the hearing which might not have been reported or they've been reserved for the time being until King decides whether to seek permission to appeal to the Supreme Court which is his prerogative to do so or not.

King would have to seek permission to appeal to the Supreme Court as he cannot appeal to the Supreme Court directly without firstly seeking the permission from the Court of Session which is an anomaly for if he's refused permission he can then appeal directly to them in any case. The Court of Session will refuse permission in my opinion based on their unambiguous judgement's thus far.

The losing party normally pays the winning side's costs.

Its also used as a weapon against ordinary folk who cannot obtain representation and who manage to have their cases heard in the first place.

However, very clearly King wasn't the impecunious person of little means fighting to have their case heard and should deservedly of course have the costs awarded against him. He is without doubt a chancer compared to the folk I'm referring to above.

mon the cabbage!!!

[CropleyWasGod]

Can you remind me how much the Directors loans are?

The accounts don't show Directors' Loans separately, but in November "investor loans" were £15.9m.

[jacomo]

"Lawyers for the South African had argued that a judge went "too far" in ruling against him." Love the arrogance of the man but my favourite bit is "Lord Bannatyne held that Mr King's argument that he does not have the funds to make the offer was "irrelevant"."


Seems the ‘glib and shameless liar’ lacks a little credibility with judges?

[Tornadoes70]

Seems the ‘glib and shameless liar’ lacks a little credibility with judges?

These same Judges would in all likelihood have sided with King if the pursuing petitioning party hadn't been an authority themselves in my opinion. They're really not worthy of praise as in my experiences with them I know them to be a self serving bunch of elitist snobs who almost always side with fellow authorities. That's how I was able to voice my opinion many pages ago on this thread that they would certainly side with the TP.

No doubt King is a glib and shameless liar, however, so are the vast majority of those in positions of authority in my experience and opinion.





mon the cabbage!!!

[Bostonhibby]

These same Judges would in all likelihood have sided with King if the pursuing petitioning party hadn't been an authority themselves in my opinion. They're really not worthy of praise as in my experiences with them I know them to be a self serving bunch of elitist snobs who almost always side with fellow authorities. That's how I was able to voice my opinion many pages ago on this thread that they would certainly side with the TP.

No doubt King is a glib and shameless liar, however, so are the vast majority of those in positions of authority in my experience and opinion.





mon the cabbage!!!There's always the possibility they are interpreting the law as it was intended here, and following precedents.

Sent from my SM-J320FN using Tapatalk

[Tornadoes70]

There's always the possibility they are interpreting the law as it was intended here, and following precedents.

Sent from my SM-J320FN using Tapatalk

I fully appreciate there will be folk who may wish to disagree with my comments or give an entirely different outlook. I've given my honest opinion wholly based on my experiences with them.

:aok:




mon the cabbage!!!

[Bostonhibby]

I fully appreciate there will be folk who may wish to disagree with my comments or give an entirely different outlook. I've given my honest opinion wholly based on my experiences with them.

:aok:




mon the cabbage!!![emoji106]

Probably doesn't help the appellant that he has the reputation he has........

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[Tornadoes70]

[emoji106]

Probably doesn't help the appellant that he has the reputation he has........

Sent from my SM-J320FN using Tapatalk

His bluff has certainly now been called. Popcorn time as the saying goes as to how this will play out. Will he now pony up or is an administration event on the cards may just be the most apt questions at this point.


mon the cabbage!!!

[Prof. Shaggy]

I fully appreciate there will be folk who may wish to disagree with my comments or give an entirely different outlook. I've given my honest opinion wholly based on my experiences with them.

:aok:




mon the cabbage!!!

I'm happy, with limited first hand experience, to support your view.

[weecounty hibby]

Does this mean trouble ahead for der Hun? I don't pretend to understand any of this or care about King being a bell end, all I really care about is if that disgusting cesspit at Ibrox is in trouble again or not

[CropleyWasGod]

Does this mean trouble ahead for der Hun? I don't pretend to understand any of this or care about King being a bell end, all I really care about is if that disgusting cesspit at Ibrox is in trouble again or not

Not immediately.

This is all about DK, or his company.

He may try and force administration, as a way of avoiding having to pay up.... but I'm not convinced that would work.

[weecounty hibby]

Not immediately.

This is all about DK, or his company.

He may try and force administration, as a way of avoiding having to pay up.... but I'm not convinced that would work.
Not half as exciting as I'd hoped. Still, I suppose it makes them look stupid again which is never a bad thing. I was really hoping for another admin episode as well, maybe next time when the January spending catches up with them

[JeMeSouviens]

Not half as exciting as I'd hoped. Still, I suppose it makes them look stupid again which is never a bad thing. I was really hoping for another admin episode as well, maybe next time when the January spending catches up with them

According to their annual report, King's family trust fund was on the hook to provide £7M shortfall in funding over this season and next. Rumours abound that other funding sources (the 3 bears etc) are tapped oot and King is failing to fill the gap, hence the Close Bros "overdraft". If he now has to keep £11M + costs aside for this, it's only going to make it worse (or better for us :wink:).

[Fuzzywuzzy]

According to their annual report, King's family trust fund was on the hook to provide £7M shortfall in funding over this season and next. Rumours abound that other funding sources (the 3 bears etc) are tapped oot and King is failing to fill the gap, hence the Close Bros "overdraft". If he now has to keep £11M + costs aside for this, it's only going to make it worse (or better for us :wink:).

And yet they didn't want the £9.5m for morelos...........

[Tornadoes70]

Not immediately.

This is all about DK, or his company.

He may try and force administration, as a way of avoiding having to pay up.... but I'm not convinced that would work.

I think administration is a likely outcome if he doesn't pony up for it might appear the only way to clear the decks and start afresh so to speak as far as the club is concerned with new owners starting from scratch. As for King he'd have to take the consequences whatever form they would take.

I'm merely speculating though but administration might just be the only way out to clear up the mess brought about by King and give some clarity. Its certainly chaos and flux unless he does the unexpected and actually ponies up although that appears unlikely as to his being a gasl.

:greengrin

mon the cabbage!!!

[CropleyWasGod]

I think administration is a likely outcome if he doesn't pony up for it might appear the only way to clear the decks and start afresh so to speak as far as the club is concerned with new owners starting from scratch. As for King he'd have to take the consequences whatever form they would take.

I'm merely speculating though but administration might just be the only way out to clear up the mess brought about by King and give some clarity. Its certainly chaos and flux unless he does the unexpected and actually ponies up although that appears unlikely as to his being a gasl.

:greengrin

mon the cabbage!!!

It's not as simple as just clearing the decks. For one thing, I reckon DK would still have to make the share offer to the administrator.

For another, there are securities over the training ground (to the Sports Council) and now to Close Brothers for the car park and Edmiston House. These didn't exist last time.

[JeMeSouviens]

It's not as simple as just clearing the decks. For one thing, I reckon DK would still have to make the share offer to the administrator.

For another, there are securities over the training ground (to the Sports Council) and now to Close Brothers for the car park and Edmiston House. These didn't exist last time.

What if DK gets bumped out of Sevco (as a director I mean, I'm not expecting anyone to actually buy his shares)? If DK then fails to make the offer, does the company stay clear of any ramifications or not?

[Tornadoes70]

It's not as simple as just clearing the decks. For one thing, I reckon DK would still have to make the share offer to the administrator.

For another, there are securities over the training ground (to the Sports Council) and now to Close Brothers for the car park and Edmiston House. These didn't exist last time.

You know much more than I do regarding the ins and outs of administration events that's for certain. I'm merely speculating as to how this may evolve if King refuses to comply. Of course if the share issue proceeds as his Counsel indicated it would then I think talk of administration may have ended. If no compliance then nothings off the table so to speak with administration a likely outcome in my opinion.




mon the cabbage!!!

[Billy Whizz]

You know much more than I do regarding the ins and outs of administration events that's for certain. I'm merely speculating as to how this may evolve if King refuses to comply. Of course if the share issue proceeds as his Counsel indicated it would then I think talk of administration may have ended. If no compliance then nothings off the table so to speak with administration a likely outcome in my opinion.




mon the cabbage!!!

Remind me, what’s the points penalty for administration this season

[Tornadoes70]

Remind me, what’s the points penalty for administration this season

I honestly don't know. Some say 15 some say 25 possibly?

25 sounds better of the two possibilities though :greengrin.





mon the cabbage!!!

[CropleyWasGod]

What if DK gets bumped out of Sevco (as a director I mean, I'm not expecting anyone to actually buy his shares)? If DK then fails to make the offer, does the company stay clear of any ramifications or not?

Not sure TBH. It could be argued that the affair happened whilst he was involved with RFC.

However.... and I have only heard this, haven't actually seen it.... DK is alleged to have emailed the RFC Board to say that, if the case goes against him, his company would pay whatever is needed for the share offer. So, if that's to be believed.....:rolleyes::rolleyes:.... the offer will be made and RFC will be clear of any action.

[JeMeSouviens]

I honestly don't know. Some say 15 some say 25 possibly?

25 sounds better of the two possibilities though :greengrin.





mon the cabbage!!!

They'd get -15 points this season and -5 next.

[CropleyWasGod]

Remind me, what’s the points penalty for administration this season

Definitely 15. It's more than 5 years since the last one.

[Tornadoes70]

They'd get -15 points this season and -5 next.

Cheers mate :aok:.








mon the cabbage!!!

[CropleyWasGod]

They'd get -15 points this season and -5 next.

There's no -5.

From the SPFL site:-

E1 Subject to Rule E5, where a Club suffers or is subject to an Insolvency Event that
Club shall be deducted 15 points in the League.
E2 Where an Insolvency Event occurs during a Season, the 15 points deduction shall be
applied immediately to take effect in the current Season.
E3 Where an Insolvency Event occurs during the Close Season the 15 points deduction
shall apply in respect of the immediately following Season, such that the relevant
Club starts that immediately following Season in the relevant Division on minus 15
points.
E4 Where an Insolvency Event or in the event that such Insolvency Event is part of an
Insolvency Process that process, continues and/or is subsisting during a second or
later Season then, for each such second or later Season, during the whole or part of
which such Insolvency Event or Insolvency Process is continuing and/or subsisting,
the Club concerned shall be deducted 15 points and shall start each such second or
later Season in the relevant Division on minus 15 points.
E5 Where a Club, whether owned and operated by the same or a different Member,
suffers or is subject to an Insolvency Event which results in a deduction of points in
terms of these Rules and within 5 years of the date of such Insolvency Event suffers
or is subject to a further Insolvency Event which is not part of the same Insolvency
Process as the Insolvency Event then suffered, the points deduction applicable in
terms of Rules E1 in respect of that second or further Insolvency Event, shall be 25
points with the 15 points in Rules E2 and E3 being 25 Points.

[Deansy]

And yet they didn't want the £9.5m for morelos...........


Ha-ha-ha - couldn't believe it when I read that - even their own knuckle-draggers are embarassed !!

[Billy Whizz]

They'd get -15 points this season and -5 next.

And if it’s in the close season, is it back or forward applied?

[CropleyWasGod]

And if it’s in the close season, is it back or forward applied?

See above.

They start the new season on -15, as Hearts did.

[Billy Whizz]

See above.

They start the new season on -15, as Hearts did.

Ta, can’t see them wanting to start on -15, at the start of the 10 in the year row for Celtic

[Keith_M]

Here's a wee possible scenario to cheer you all up.


King gets p1ssed off about the latest ruling, especially as he just doesn't have the required 11M+. He decides the most sensible thing to do is to leg it back to South Africa.

Problem is, he has a few million tied to T'Rangers in the shape of loans and wants that back pronto. The Clumpany, as most of us suspect, just don't have the money.

He instructs his lawyers to take all available action to retrieve the money... which results in Administration for RIFC.

[JeMeSouviens]

There's no -5.

From the SPFL site:-

E1 Subject to Rule E5, where a Club suffers or is subject to an Insolvency Event that
Club shall be deducted 15 points in the League.
E2 Where an Insolvency Event occurs during a Season, the 15 points deduction shall be
applied immediately to take effect in the current Season.
E3 Where an Insolvency Event occurs during the Close Season the 15 points deduction
shall apply in respect of the immediately following Season, such that the relevant
Club starts that immediately following Season in the relevant Division on minus 15
points.
E4 Where an Insolvency Event or in the event that such Insolvency Event is part of an
Insolvency Process that process, continues and/or is subsisting during a second or
later Season then, for each such second or later Season, during the whole or part of
which such Insolvency Event or Insolvency Process is continuing and/or subsisting,
the Club concerned shall be deducted 15 points and shall start each such second or
later Season in the relevant Division on minus 15 points.
E5 Where a Club, whether owned and operated by the same or a different Member,
suffers or is subject to an Insolvency Event which results in a deduction of points in
terms of these Rules and within 5 years of the date of such Insolvency Event suffers
or is subject to a further Insolvency Event which is not part of the same Insolvency
Process as the Insolvency Event then suffered, the points deduction applicable in
terms of Rules E1 in respect of that second or further Insolvency Event, shall be 25
points with the 15 points in Rules E2 and E3 being 25 Points.


http://www.bbc.co.uk/sport/football/32436839

Have they changed it again? :rolleyes:

[CropleyWasGod]

Ta, can’t see them wanting to start on -15, at the start of the 10 in the year row for Celtic

If they do it this season, the likelihood is no Europe next season.

[JeMeSouviens]

E1 Where a Club takes, suffers or is subject to a Deductible Insolvency Event that Club
shall, subject to Rule E4, be deducted 15 points and 5 points in the League in
consecutive Seasons in terms of Rule E2 or Rule E3.

E2 Where a Club takes, suffers or is subject to a Deductible Insolvency Event during a
Season the 15 points deduction shall be applied immediately to take effect in that
Season, with the 5 points deduction being applied in the immediately following
Season such that the relevant Club shall commence that immediately following
Season in the relevant Division on minus 5 points.

E3 Where a Club takes, suffers or is subject to a Deductible Insolvency Event during a
Close Season the 15 points deduction shall be applied in the immediately following
Season, such that the relevant Club shall commence that immediately following
Season in the relevant Division on minus 15 points, with the 5 points deduction
being applied in the Season next following the immediately following Season, such
that the relevant Club shall commence that next following Season in the relevant
Division on minus 5 points.

(My bold)

https://spfl.co.uk/docs/067_324__rulesofthespflasat19_january_2018_1518083 042.pdf

[Billy Whizz]

If they do it this season, the likelihood is no Europe next season.

19 points ahead of 5th placed Hearts

If one of the current top 3 win the Cup, 4th would get a Euro spot

[southern hibby]

Right here’s a question that’s bugging me.

Can a team get into Europe under administration??

The rangers have 58 points at present IF they did go into admin and loose 15 points that would take them down to 43 points and into 4th place. Would they as previously asked get a place in Europe in admin if fourth place is good enough to get there? Or alternatively, can they get a place in Europe if after the season finishes they go into admin before European games start?

One last question how will it make the SFA look if they say they are financially sound ( the Rangers ) to the powers that be in Europe for them to then go into admin? Will the SFA actually take the chance on this happening??


GGTTH

[CropleyWasGod]

(My bold)

https://spfl.co.uk/docs/067_324__rulesofthespflasat19_january_2018_1518083 042.pdf

Nice one :) Have they changed that?

I see yours are dated January 18. Can't see a date on mine.

If they have, I don't remember them announcing it.

[CropleyWasGod]

Here's a wee possible scenario to cheer you all up.


King gets p1ssed off about the latest ruling, especially as he just doesn't have the required 11M+. He decides the most sensible thing to do is to leg it back to South Africa.

Problem is, he has a few million tied to T'Rangers in the shape of loans and wants that back pronto. The Clumpany, as most of us suspect, just don't have the money.

He instructs his lawyers to take all available action to retrieve the money... which results in Administration for RIFC.

It would be a daft move IMO. He's got more chance of getting his money back if the company was able to continue trading. If it goes into admin, he will rank behind the secured creditors, including the pie racks. :greengrin

[Hibs4185]

It would be a daft move IMO. He's got more chance of getting his money back if the company was able to continue trading. If it goes into admin, he will rank behind the secured creditors, including the pie racks. :greengrin

There is absolutely no chance of rangers going into admin before next season unfortunately. People have millions invested and the only way for them to get any return at all is to qualify for europe. I’m sure craig whyte went tits up when they didn’t qualify and that’s what caused the previous liquidation. If they don’t make Europe and the chance of millions then it will collapse. No way they will go through another year without the income generated by European football and they already borrowing from last resort lenders.

It’s all or bust I think depending on qualifying.

[BH Hibs]

Right here’s a question that’s bugging me.

Can a team get into Europe under administration??

The rangers have 58 points at present IF they did go into admin and loose 15 points that would take them down to 43 points and into 4th place. Would they as previously asked get a place in Europe in admin if fourth place is good enough to get there? Or alternatively, can they get a place in Europe if after the season finishes they go into admin before European games start?

One last question how will it make the SFA look if they say they are financially sound ( the Rangers ) to the powers that be in Europe for them to then go into admin? Will the SFA actually take the chance on this happening??


GGTTH

They shouldn’t get a license however it’s Rangers and the SFA we are talking about and they got one before so history suggests they’ll be ok.

[Eyrie]

Ta, can’t see them wanting to start on -15, at the start of the 10 in the year row for Celtic

Starting on -15 provides them with an excuse for failing to stop Celtc.


If they do it this season, the likelihood is no Europe next season.

So they can use a summer administration to dodge their current debt but still keep the European income when it arrives?

[Jack]

Here's a wee possible scenario to cheer you all up.


King gets p1ssed off about the latest ruling, especially as he just doesn't have the required 11M+. He decides the most sensible thing to do is to leg it back to South Africa.

Problem is, he has a few million tied to T'Rangers in the shape of loans and wants that back pronto. The Clumpany, as most of us suspect, just don't have the money.

He instructs his lawyers to take all available action to retrieve the money... which results in Administration for RIFC.

Has he actually lent any of his own money, or the family trust, into the running costs of the club?

[Bostonhibby]

Has he actually lent any of his own money, or the family trust, into the running costs of the club?Smoke and mirrors I suspect. If this enormously wealthy trust really was sinking it's "untold wealth" into sevco why would they be swimming with the sharks at Close Brothers and mortgaging of assets that are important to their odious culture?

Sent from my SM-J320FN using Tapatalk

[jacomo]

19 points ahead of 5th placed Hearts

If one of the current top 3 win the Cup, 4th would get a Euro spot


At best, finishing 4th means entry into an early qualifying round, and a whole host of tricky ties to reach the Europa League group stages.

You’d have to be either mad or glib and shameless to bet on that outcome.

[Seveno]

It would be a daft move IMO. He's got more chance of getting his money back if the company was able to continue trading. If it goes into admin, he will rank behind the secured creditors, including the pie racks. :greengrin

He might be a secured creditor.

[CropleyWasGod]

He might be a secured creditor.According to the accounts, none of the soft loans were secured at November.

Other than the Sports Council and Close Brothers, there are no other securities recorded.

Sent from my SM-A510F using Tapatalk

[jgl07]

At best, finishing 4th means entry into an early qualifying round, and a whole host of tricky ties to reach the Europa League group stages.

You’d have to be either mad or glib and shameless to bet on that outcome.

Finishing fourth is no different from finishing second (or third). Either means entry at the First Qualifying Round of the Europa League. Winning the Scottish Cup means entry at Second Qualifying Round.

[Stonewall]

Now that King has lost his court case re the TOP ruling It would seem likely that we can expect a concerted media campaign pushing the line that the shares are worth more than 20p and that anyone selling would be a mug.

Would the media outlets responsible be considered as giving financial advice or are there ways of dressing it up to avoid this. E.g. Quotes from individuals etc.

[Carheenlea]

https://www.youtube.com/watch?v=GkuvfnsnKQM

[snooky]

https://www.youtube.com/watch?v=GkuvfnsnKQM

Why don't they say "because it's our club"? :dunno:

[lapsedhibee]

https://www.youtube.com/watch?v=GkuvfnsnKQM

"We can't forget the past" :rolleyes:

[Ozyhibby]

https://mobile.twitter.com/gibbygibbo1/status/968537321275576320/video/1

[emoji23][emoji23][emoji23]


Sent from my iPhone using Tapatalk

[Is It On....]

The accounts don't show Directors' Loans separately, but in November "investor loans" were £15.9m.

Thanks. So he has to put another £11m in escrow for a formal bid to the minority shareholders (which itself will cost about £500k). Best case is nobody tenders any shares so can then go ahead with an "emergency" rights issue so any money raised will only go to pay off the loans. The first part works for him but his shareholding is massively diluted.

So I would say that his power is massively diluted and The Rangers still don't have any money to invest and will also still be loss making. I can't see how they get out of this mess unless they are able to transfer a player for a huge sum of money which will paper over the problems for another season.

[Tynie01011973]

Thanks. So he has to put another £11m in escrow for a formal bid to the minority shareholders (which itself will cost about £500k). Best case is nobody tenders any shares so can then go ahead with an "emergency" rights issue so any money raised will only go to pay off the loans. The first part works for him but his shareholding is massively diluted.

So I would say that his power is massively diluted and The Rangers still don't have any money to invest and will also still be loss making. I can't see how they get out of this mess unless they are able to transfer a player for a huge sum of money which will paper over the problems for another season.

Pity they turned down£11m for Morelos then 🤣

[Is It On....]

Pity they turned down£11m for Morelos then 🤣

Unless there is something that nobody yet knows about, they really need to be massively lucky and make a fortune in Europe next year. This again is just papering over the monetary advantage that their Glasgow cousins have by virtue of the revenue 10,000 extra fans bring at every home game.

I like your name.. according to my dad (who was actually there) he said it was before segregation and that they were in a mixed group. He said he had to calm down one of his Hibs friends who was getting "a bit carried away" 😂😂

[hibees 7062]

https://scontent.fbhx3-1.fna.fbcdn.net/v/t1.0-9/28576012_10157108558553539_3674709332458209082_n.j pg?oh=7fef2b4440630db364f2629acd8905b6&oe=5B04FA9D

[snooky]

Unless there is something that nobody yet knows about, they really need to be massively lucky and make a fortune in Europe next year. This again is just papering over the monetary advantage that their Glasgow cousins have by virtue of the revenue 10,000 extra fans bring at every home game.

I like your name.. according to my dad (who was actually there) he said it was before segregation and that they were in a mixed group. He said he had to calm down one of his Hibs friends who was getting "a bit carried away" ����

I was too. There were loads of fans couldn't get in as the turnstyles were mobbed. A Jambo relative of mine was still trying to get in when the word got outside it was 5-0 to Hibs. He didn't bother waiting at the turnstyles and just turned and went home. We were behind the north goals (where the two 2nd half goals were scored). TBH, I can't recall if it was a mixed support around us or not. I remember feeling totally unthreatened so there must have been a lot of Hibbies nearby.
Happy day. :greengrin

[lapsedhibee]

I was too. There were loads of fans couldn't get in as the turnstyles were mobbed. A Jambo relative of mine was still trying to get in when the word got outside it was 5-0 to Hibs. He didn't bother waiting at the turnstyles and just turned and went home. We were behind the north goals (where the two 2nd half goals were scored). TBH, I can't recall if it was a mixed support around us or not. I remember feeling totally unthreatened so there must have been a lot of Hibbies nearby.
Happy day. :greengrin

Never felt any worries in a Hibs-Hearts crowd in those days, surrounded or not. Huns and Celtc a different matter.

[Billy Whizz]

Never felt any worries in a Hibs-Hearts crowd in those days, surrounded or not. Huns and Celtc a different matter.

Never been to a Rangers v Celtic Derby, and no intention of ever going

[lapsedhibee]

Never been to a Rangers v Celtic Derby, and no intention of ever going

Meant at Hibs-Huns and Hibs-Celtc. Don't recall any bad feeling of any sort between Hibs and Hearts fans at that time. Huns were always poisonous. Always.

[linlithgowhibbie]

Meant at Hibs-Huns and Hibs-Celtc. Don't recall any bad feeling of any sort between Hibs and Hearts fans at that time. Huns were always poisonous. Always.

I can remember constant battles both at Easter Rd and Tynie in the respective "Sheds" from the late 60s well into the 70s till segregation happened.

[CentreLine]

Never been to a Rangers v Celtic Derby, and no intention of ever going

I’d say he’s referring to when Huns or Celtic came to Easter Road it was very different. The Derby was a game you could comfortably go along to with mates supporting each side. No problem. If you wanted a bit of handbags you could get that in the shed. There was a line of polis down the middle and people threw abuse and the odd piss filled can at each other. Not pleasant but not scary violence either. Personally I chose to go and watch the game like most people did those days. God I wish it was still like that but also happy with the way ER is how

[southsider]

Never felt any worries in a Hibs-Hearts crowd in those days, surrounded or not. Huns and Celtc a different matter.

Hertz fans went crazy at the PS 5 o'clock goal an rushed the celebrating Hibby's. Lots of trouble and continued on the way home. bTW Iain Munro was a part time teacher at my school and all we wanted to do was hear about that goal.

[Billy Whizz]

Meant at Hibs-Huns and Hibs-Celtc. Don't recall any bad feeling of any sort between Hibs and Hearts fans at that time. Huns were always poisonous. Always.

Sorry, yeah always more poisonous v Huns. At celtic Park we leave the ground together, absolutely no hassle

[lapsedhibee]

I can remember constant battles both at Easter Rd and Tynie in the respective "Sheds" from the late 60s well into the 70s till segregation happened.

Was there proper trouble at the 7-0 game? I never really noticed any. Certainly not on the scale of May 2016 anyway.

[Tynie01011973]

I like your name.. according to my dad (who was actually there) he said it was before segregation and that they were in a mixed group. He said he had to calm down one of his Hibs friends who was getting "a bit carried away" 😂😂

Was in terracing (now the Wheatfield) around halfway line with group of 5 Hibees and 2 Hertz (one was Brother in Law) and never saw any problems. most of the Yams had left early 😂
Went back to my Sisters flat in Harrison Park after game with family.
Plenty leg pulling for the B-I-L that night I can tell you 🤣🤣🤣

[eastterrace]

Was there proper trouble at the 7-0 game? I never really noticed any. Certainly not on the scale of May 2016 anyway.

I was in the school end and wasn’t any bother but most hearts fans were away by half time anyway, but use to have loads of trouble at Easter road . Hearts fans were really bad lot back then only changed in the eighties with the hibs casuals .


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[ancient hibee]

Don’t remember any trouble until after 1973 and certainly not in the 1960s.I was in the enclosure level with the penalty box at the end we scored five.It was the usual mixed bunch.It’s interesting that if the number of Hibs supporters who have claimed to be at the game had actually been there there then the attendance would have been 80000.I’ve got at least six pals who now say they were there but weren’t.I ended up Billy Nomates and went on my own.

[southern hibby]

My father was there ( disclaimer he’s not mine as my mother was on the game when I was conceived, well I’d rather have that than a Jambo as a dad ). He told me he went with a Hibs mate and they had a half bottle each with them and had a bet which was whoever scored owed the other person a drink.

Said by the time the seventh went in he didn’t give a hoots as he was mince on his mates bottle. Said there was lots of banter and pizz taking but no trouble.

GGTTH

[snooky]

Meant at Hibs-Huns and Hibs-Celtc. Don't recall any bad feeling of any sort between Hibs and Hearts fans at that time. Huns were always poisonous. Always.

Me too, to be fair.
I do recall the Glesgie polis being totally nonplussed before the ... :shhhsh!: ... 5-1 game. They couldn't understand how both sets of fans were integrating so freely and being so friendly to each other. Alien to them I suppose.

[Springbank]

Was there proper trouble at the 7-0 game? I never really noticed any. Certainly not on the scale of May 2016 anyway.

Ok you are Keith Jackson and I claim my £19.02

[greenginger]

Was there proper trouble at the 7-0 game? I never really noticed any. Certainly not on the scale of May 2016 anyway.

I remember it well.

We did the usual new year day game arrangement. A dozen of us, probs 8 Hibbys and 4 Jambos each with a half bottle in the inside pocket of our coats/combat jackets.

We were standing about level with 18 yard line at the Gorgie end on the main terracing in the first half. The only trouble was the Jambo's refused to pass round their bottles after the 4th goal went in and moved away from us Hibby's at half time. :greengrin

We never attended a NYD game together after that.

[Keith_M]

My Grandad's mate, a Hearts Fan, didn't know the game was on at 2pm and turned up shortly before 3, only to be met by thousands of fellow Fans on their way home.

Needless to say he decided to join them when he found out the score :-)

[1620]

I remember it well.

We did the usual new year day game arrangement. A dozen of us, probs 8 Hibbys and 4 Jambos each with a half bottle in the inside pocket of our coats/combat jackets.

We were standing about level with 18 yard line at the Gorgie end on the main terracing in the first half. The only trouble was the Jambo's refused to pass round their bottles after the 4th goal went in and moved away from us Hibby's at half time. :greengrin

We never attended a NYD game together after that.

I stood around the same area having entered through the Wheatfield entrance with 5 Jambos and another 2 Hibbys. We all had hip flasks/half bottles in our pockets and from memory there had been a recent history of no scoring draws in the previous games between the two clubs and we jokingly said that we would have a drink each time a goal was scored. I was a goner by halftime but I don’t remember any crowd trouble where we stood but there was certainly plenty banter.

[Jack Hackett]

Anyone seen the Rangers meltdown thread? I'm sure I left it around here somewhere :dunno:

[brog]

Absolutely no trouble at the 7-0 game. I would say the McLeod St end was 90% Hibs, Gorgie Rd & Wheatfield about 70% Yams, until half time anyway. Funny thing is we were about 18 yard line at McLeod St end in Wheatfield, pretty much where there nutters congregate now. We were all Hibs but there were plenty Yams nearby but no problems at all. We had several half bottles with us to take to my pal's house after the game. We saved him one nip!

[hibees 7062]

https://scontent.fman3-1.fna.fbcdn.net/v/t1.0-9/28783234_1894616957214959_9038007233681065235_n.jp g?oh=6ab3f922157b8c47049740fd5f341726&oe=5B3DAE91

[Is It On....]

https://scontent.fman3-1.fna.fbcdn.net/v/t1.0-9/28783234_1894616957214959_9038007233681065235_n.jp g?oh=6ab3f922157b8c47049740fd5f341726&oe=5B3DAE91

That is brilliant..is it real??

[Pescarese]

https://scontent.fman3-1.fna.fbcdn.net/v/t1.0-9/28783234_1894616957214959_9038007233681065235_n.jp g?oh=6ab3f922157b8c47049740fd5f341726&oe=5B3DAE91
Love it. But surely the tribute act have won three league titles? Just not the big one. Oh, and a Petrosomething cup.

[jacomo]

Love it. But surely the tribute act have won three league titles? Just not the big one. Oh, and a Petrosomething cup.


The plucky newco are still in the hunt for their first major trophy, bless them.

[FilipinoHibs]

Don’t remember any trouble until after 1973 and certainly not in the 1960s.I was in the enclosure level with the penalty box at the end we scored five.It was the usual mixed bunch.It’s interesting that if the number of Hibs supporters who have claimed to be at the game had actually been there there then the attendance would have been 80000.I’ve got at least six pals who now say they were there but weren’t.I ended up Billy Nomates and went on my own.

Still looked really packed in second half. Maybe more Hibs fans turned up when they heard the half time score. remember going to game with my mate and his dad and listening to the radio. Old firm called off I said if Hibs win 5-0 we go top. Everybody turned round and looked at me as if I was mad!

[jacomo]

Anyhoo...

Are the zombies dead dead yet?

[Tynie01011973]

Anyhoo...

Are the zombies dead dead yet?

Looks like Minty Moonbeams might be making a comeback

[Sauzee16]

Looks like Minty Moonbeams might be making a comeback

I think this was always part of the master plan eventually.

[jacomo]

Looks like Minty Moonbeams might be making a comeback


The Saviour!

[CapitalGreen]

Finishing fourth is no different from finishing second (or third). Either means entry at the First Qualifying Round of the Europa League. Winning the Scottish Cup means entry at Second Qualifying Round.

Incorrect, if Celtic win the League and the Scottish Cup then 2nd place enters the Europa League in the 2nd Qualifying Round.

[Lago]

The Saviour!
There is NO way that man should be allowed to have anything to do with Scottish football.

[Geo_1875]

Looks like Minty Moonbeams might be making a comeback

Will the Loyalest fans in the world forgive him for taking Craig Whyte's pound?

[Billy Whizz]

Looks like Minty Moonbeams might be making a comeback

Why is he called that?

[MrSmith]

There is NO way that man should be allowed to have anything to do with Scottish football.

Wasn't he barred from Scottish Football? Sure I heard or read something SR (SFA fit and proper :\ )wrote after all the proverbial hit the fan re DM not being welcome in Scottish Football?

[Sauzee16]

Wasn't he barred from Scottish Football? Sure I heard or read something SR (SFA fit and proper :\ )wrote after all the proverbial hit the fan re DM not being welcome in Scottish Football?

I don’t think he done anything wrong.

[Ozyhibby]

I don’t think he done anything wrong.

???


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[JeMeSouviens]

Why is he called that?

Minty because of Murray Mints obv.
Moonbeams because of a quote he made just after we papped them oot the cup 0-3 at Ibrox. He said there was a "massive moonbeam of success" just around the corner. Which turned out to mean he was in the process of hiring Paul Le Guen. That went well. :wink:

[CropleyWasGod]

I don’t think he done anything wrong....said William Boyne, of Larkhall [emoji16]

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[Deansy]

Wasn't he barred from Scottish Football? Sure I heard or read something SR (SFA fit and proper :\ )wrote after all the proverbial hit the fan re DM not being welcome in Scottish Football?


Wouldn't stop the man responsible for World Football's biggest scam, being warmly welcomed back by our governing-authorities/media etc - can see the 'Daily Rectum' headline now -

'EXCLUSIVE - HOW WE (the Scottish-media/courts/lawyers/judges etc) GOT IT ALL WRONG !!'

[Famous Fiver]

Our independent, fair minded press will get another feed of succulent lamb.

[Sauzee16]

...said William Boyne, of Larkhall [emoji16]

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Officially. But then I forgot about ebt’s. Sorry, I just meant in terms of ruining them.

[CropleyWasGod]

Officially. But then I forgot about ebt’s. Sorry, I just meant in terms of ruining them.

Even without the EBT's, he ruined them. He ran up debts which were unsustainable. Remember his comment about spending £10 for every £5 Celtic spent.

And he signed Flo.:greengrin

[Sauzee16]

Even without the EBT's, he ruined them. He ran up debts which were unsustainable. Remember his comment about spending £10 for every £5 Celtic spent.

And he signed Flo.:greengrin

I think he lent the money from the bank and would cover it if the businesses he had never went to pot. He couldn’t afford to pay them back so sold to a guy promising to do so for £1. I always thought he would end up back there because guys like him always find a way in business to get back on track and if the master plan is to stop then in a row he might chuck a load of his own money at it. Flo, what a mystery of a player, unplayable at times at Chelsea (old Trafford springs to mind) and with Norway in 1998 but ultimately a diddy. Bad money well spent.

[CropleyWasGod]

I think he lent the money from the bank and would cover it if the businesses he had never went to pot. He couldn’t afford to pay them back so sold to a guy promising to do so for £1. I always thought he would end up back there because guys like him always find a way in business to get back on track and if the master plan is to stop then in a row he might chuck a load of his own money at it. Flo, what a mystery of a player, unplayable at times at Chelsea (old Trafford springs to mind) and with Norway in 1998 but ultimately a diddy. Bad money well spent.

The last accounts of the group before DM sold them had net Current Liabilities of £21m. When he took them over, that figure was £2.7m.

That's ruining in my book. It's Robinson-esque. :greengrin

[Sauzee16]

The last accounts of the group before DM sold them had net Current Liabilities of £21m. When he took them over, that figure was £2.7m.

That's ruining in my book. It's Robinson-esque. :greengrin

True. :greengrin:

[blackpoolhibs]

Murray back to The Rangers, i don't think this has any legs.

[hibbymick]

Murray back to The Rangers, i don't think this has any legs.

Am stumped.

[Iggy Pope]

Murray back to The Rangers, i don't think this has any legs.

Cachisssskkk! You're here all week! :greengrin

[CathroMustStay]

I don’t think he done anything wrong.

True he's the architect of the huns dying.

He did everything right did Minty Moonbeams.

p.s. just found this classic vid, enjoy:


https://www.youtube.com/watch?v=0BU0_Wp5MHs

[Jack Hackett]

True he's the architect of the huns dying.

He did everything right did Minty Moonbeams.

p.s. just found this classic vid, enjoy:


https://www.youtube.com/watch?v=0BU0_Wp5MHs

Classy... In 1:38 mins he managed 22 effings, 1 male member and 1 lady part

... I'm away for a shower

[majorhibs]

Murray back to The Rangers, i don't think this has any legs.


Am stumped.


Cachisssskkk! You're here all week! :greengrin

Captain Hook would run the zombies better than minty moonbeams did. This is prosthetic news!

[jacomo]

True he's the architect of the huns dying.

He did everything right did Minty Moonbeams.

p.s. just found this classic vid, enjoy:


https://www.youtube.com/watch?v=0BU0_Wp5MHs


Weirdly, when I click you tube links from here it diverts to a .swf file instead of the link.

Any ideas why?

[Bostonhibby]

True he's the architect of the huns dying.

He did everything right did Minty Moonbeams.

p.s. just found this classic vid, enjoy:


https://www.youtube.com/watch?v=0BU0_Wp5MHs

This poor chap must have been really disappointed when they put themselves into administration then decided to liquidate the now defunct Glasgow Rangers. I am guessing he probably didn't manage any form of protest to minty at all either despite his excitable demeanour as it was clearly just an overdose of crème de menthe that inspired this wee ditty.

Personally I preferred wee wullie bluenose.

[Greenfly]

Classy... In 1:38 mins he managed 22 effings, 1 male member and 1 lady part

... I'm away for a shower

... still fairly eloquent for a hun, no?

[lapsedhibee]

... still fairly eloquent for a hun, no?

:greengrin

[Spike Mandela]

🎵🎵There may be trouble ahead........🎵🎵

https://philmacgiollabhain.ie/2018/03/11/sevco-director-asks-mr-king-to-pay-his-debts/

[Famous Fiver]

Popcorn time?

Or bullet proof vests required?

[brog]

Being reported that 3 people verbally abused Scott Sinclair in BA lounge in Glasgow airport. Good news is they were banned from the flight. I can only assume they were severely goaded!

[Billy Whizz]

Being reported that 3 people verbally abused Scott Sinclair in BA lounge in Glasgow airport. Good news is they were banned from the flight. I can only assume they were severely goaded!

Poor show, you’d have thought there was a better class of Hun in a BA Lounge, obviously not

[Kato]

Being reported that 3 people verbally abused Scott Sinclair in BA lounge in Glasgow airport. Good news is they were banned from the flight. I can only assume they were severely goaded!

If this was Hibs fans it would be reported as "Sinclair attacked and assaulted". Terminology, eh!

[Ozyhibby]

https://uploads.tapatalk-cdn.com/20180328/cabd2fdaa0f33013c664a5f5d375270f.jpg


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[CropleyWasGod]

https://uploads.tapatalk-cdn.com/20180328/cabd2fdaa0f33013c664a5f5d375270f.jpg


Sent from my iPhone using Tapatalk

Given their experience in the previous season, I would have thought the answer was obvious. :greengrin

[HoboHarry]

https://uploads.tapatalk-cdn.com/20180328/cabd2fdaa0f33013c664a5f5d375270f.jpg


Sent from my iPhone using Tapatalk
I asked the same thing on multiple occasions - staggered me that no-one made any sound noise about it......

[Ozyhibby]

I asked the same thing on multiple occasions - staggered me that no-one made any sound noise about it......

Thing is, it could be us this year. Will Hibs say anything? The rules are quite clear and they are clearly in breach of them.


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[Ozyhibby]

Given their experience in the previous season, I would have thought the answer was obvious. :greengrin

True.[emoji23]


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[Billy Whizz]

When is the day DK has to pay up, must be soon

[Ozyhibby]

When is the day DK has to pay up, must be soon

Tomorrow Billy, but I’m sure we would have heard by now if an offer was being prepared given what’s involved. He’ll be in contempt by Friday.


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[Jack Hackett]

Thing is, it could be us this year. Will Hibs say anything? The rules are quite clear and they are clearly in breach of them.


Sent from my iPhone using Tapatalk

Should the issue arise, I'm pretty sure our support will be a damn sight more vociferous about it than the docile quiescent yams were.

[Ozyhibby]

From the yams q&a on kickback
—————————
Q35. Will Hearts seek assurances from the SFA that Rangers meet FFP criteria for a UEFA Licence for season 2018/19, given that the company has publicly reported substantial losses in each of its five years existence and requires further funding of £7.2m over the next two seasons as identified in their last accounts? I would add that Hearts as a member club of the SFA, in conjunction with all other clubs, has a duty to uphold the rules and integrity of the game. In Rangers case, and as a result of their financial record over a number of years, I don’t think that it is enough to accept self-certification by the club.
AB: All I can say is that at Hearts, we have to jump through a lot of hoops to ensure we comply with FFP (Financial Fair Play) rules. We must assume that UEFA does the same with all other clubs and it's UEFA who decide if a team can play in Europe or not. It's not a question of whether a club is in debt. It's a case of, is that club in a position to pay the debt back. We have to complete enormous amounts of paperwork to UEFA, the SFA, the SPFL. When we took over in 2014, we had to attend a lot of meetings to prove we could run a financially viable football club. There is no reason to think Rangers are being treated any differently from any other team in that respect.












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[Spike Mandela]

Ann Budge: “Can the SFA confirm how they determined Rangers eligibility for European competition given their flagrant abuse of FFP rules”

Shady SFA thug in car park: “Miss Budge we know exactly how Hearts shafted creditors and how they systemstically robbed the taxman and got away with it due to friends in high places. We know where the bodies are buried and will lay bare every corrupt practice your club has been involved in over the last 15 years or so. We also know the true capacity at Tynecastle.”

Ann Budge: “Time to move on”

[Eyrie]

Thing is, it could be us this year. Will Hibs say anything? The rules are quite clear and they are clearly in breach of them.


Sent from my iPhone using Tapatalk

The fact that Sevco have already been allowed to play in Europe would mean that any protest would fail to Progres beyond the first round.

[SJNB Hibby]

The fact that Sevco have already been allowed to play in Europe would mean that any protest would fail to Progres beyond the first round.

I see what you did there


:greengrin

[Smartie]

Thing is, it could be us this year. Will Hibs say anything? The rules are quite clear and they are clearly in breach of them.


Sent from my iPhone using Tapatalk

Are the rules clear though, and are they so obviously in breach?

Don't get me wrong - I would dearly love this to be true.

But I just cannot understand why, if they were genuinely breaching the rules that cheated clubs would continue to cheat their own fans by being complicit in it all?

Budge's comments sound reasonable to me.

Oh, and I was most certainly not one of the "move along brigade". If Hibs were to miss out, I'd have a lot to say about it.

[CropleyWasGod]

Are the rules clear though, and are they so obviously in breach?

Don't get me wrong - I would dearly love this to be true.

But I just cannot understand why, if they were genuinely breaching the rules that cheated clubs would continue to cheat their own fans by being complicit in it all?

Budge's comments sound reasonable to me.

Oh, and I was most certainly not one of the "move along brigade". If Hibs were to miss out, I'd have a lot to say about it.The rules aren't clear. Ozy and I have different views on them. I can see why RFC might be granted a licence. Ozy sees them differently.



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[Bostonhibby]

From the yams q&a on kickback
—————————
Q35. Will Hearts seek assurances from the SFA that Rangers meet FFP criteria for a UEFA Licence for season 2018/19, given that the company has publicly reported substantial losses in each of its five years existence and requires further funding of £7.2m over the next two seasons as identified in their last accounts? I would add that Hearts as a member club of the SFA, in conjunction with all other clubs, has a duty to uphold the rules and integrity of the game. In Rangers case, and as a result of their financial record over a number of years, I don’t think that it is enough to accept self-certification by the club.
AB: All I can say is that at Hearts, we have to jump through a lot of hoops to ensure we comply with FFP (Financial Fair Play) rules. We must assume that UEFA does the same with all other clubs and it's UEFA who decide if a team can play in Europe or not. It's not a question of whether a club is in debt. It's a case of, is that club in a position to pay the debt back. We have to complete enormous amounts of paperwork to UEFA, the SFA, the SPFL. When we took over in 2014, we had to attend a lot of meetings to prove we could run a financially viable football club. There is no reason to think Rangers are being treated any differently from any other team in that respect.












Sent from my iPhone using TapatalkSo that's. Q.35

Answer. No. But lots of Mrs doctor Budge type words around it.

Sent from my SM-J320FN using Tapatalk

[Ozyhibby]

https://thecelticblog.com/2018/03/blogs/sevco-is-48-hours-from-having-a-very-serious-problem-with-uefa/amp/?__twitter_impression=true

Goes without saying that I hope this is true


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[CropleyWasGod]

https://thecelticblog.com/2018/03/blogs/sevco-is-48-hours-from-having-a-very-serious-problem-with-uefa/amp/?__twitter_impression=true

Goes without saying that I hope this is true


Sent from my iPhone using Tapatalk

Sorry to be my usual Meldrew, but a lot of that is bull****.

There are audited accounts, up to 30 June 17. There can't be any more recent than that.

The Going Concern stuff is a separate matter. I know we disagree on that bit, but I think RFC can get round that issue.

[ballengeich]

Sorry to be my usual Meldrew, but a lot of that is bull****.

There are audited accounts, up to 30 June 17. There can't be any more recent than that.

The Going Concern stuff is a separate matter. I know we disagree on that bit, but I think RFC can get round that issue.

Apparently they've issued interim accounts by this time in previous years. I don't know whether that's relevant to EUFA licensing.

Aside from that, the conversations on Rangers' fans' sites are remarkable You'd think that the club chairman, who's supposed to be covering their operating deficit up till next summer, possibly about to become in comtempt of court and liable to summary arrest if he ever jets in to the UK again would be a matter of concern. There isn't even a thread anywhere asking whether or not he's complied with the COS order.

What they are discussing is possible big name managers for next season, transfer targets when the imminent share issue brings in a fortune, and whether the next eight figure bid for Morelos should be accepted. And, of course, there's the usual bile about media and other bias against them.

[CropleyWasGod]

Apparently they've issued interim accounts by this time in previous years. I don't know whether that's relevant to EUFA licensing.

Aside from that, the conversations on Rangers' fans' sites are remarkable You'd think that the club chairman, who's supposed to be covering their operating deficit up till next summer, possibly about to become in comtempt of court and liable to summary arrest if he ever jets in to the UK again would be a matter of concern. There isn't even a thread anywhere asking whether or not he's complied with the COS order.

What they are discussing is possible big name managers for next season, transfer targets when the imminent share issue brings in a fortune, and whether the next eight figure bid for Morelos should be accepted. And, of course, there's the usual bile about media and other bias against them.The SFA require audited accounts for their own licence.

The interim accounts wouldn't be audited. However, they might be used to support the case for a UEFA licence.

Then again, they might hinder the case. [emoji16]

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[southsider]

Was today not the day when DK had to put an offer for RFC shares ? If no bid is he in comptempt ?

[Ozyhibby]

The SFA require audited accounts for their own licence.

The interim accounts wouldn't be audited. However, they might be used to support the case for a UEFA licence.

Then again, they might hinder the case. [emoji16]

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You were spot on. They have clarified.

https://thecelticblog.com/2018/03/blogs/in-spite-of-what-ann-budge-thinks-sevco-and-the-sfa-do-have-a-uefa-problem/amp/?__twitter_impression=true












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[Smartie]

Interesting wee article.

http://www.dailymail.co.uk/sport/sportsnews/article-5555645/amp/Derbys-1m-scouting-report-recommended-sign-Kylian-Mbappe-Ousmane-Dembele.html?__twitter_impression=true

Nothing to do with Rangers, but it shows you some of the dodgy dealings that seem to go on at football clubs, who are awash with money that crooks love to get their hands on.

Why here? I was interested to see about a third of the way down that Derby's parent company are "Sevco 5112 Limited". Where did the "Sevco" part come from again? Were the people who were involved in producing the zombie entity involved at Derby at some point?

[CropleyWasGod]

Interesting wee article.

http://www.dailymail.co.uk/sport/sportsnews/article-5555645/amp/Derbys-1m-scouting-report-recommended-sign-Kylian-Mbappe-Ousmane-Dembele.html?__twitter_impression=true

Nothing to do with Rangers, but it shows you some of the dodgy dealings that seem to go on at football clubs, who are awash with money that crooks love to get their hands on.

Why here? I was interested to see about a third of the way down that Derby's parent company are "Sevco 5112 Limited". Where did the "Sevco" part come from again? Were the people who were involved in producing the zombie entity involved at Derby at some point?Solicitors and company registration agents often have ready-made companies for people to buy "off the shelf". The buyer then changes the company name.

It's possible that Charles Green used the same agents as the Derby guys.

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[Billy Whizz]

Solicitors and company registration agents often have ready-made companies for people to buy "off the shelf". The buyer then changes the company name.

It's possible that Charles Green used the same agents as the Derby guys.

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What’s the law on someone having a scouting agreement, without scouting experience, or even less doing it. Must be for tax reasons only?

[CropleyWasGod]

What’s the law on someone having a scouting agreement, without scouting experience, or even less doing it. Must be for tax reasons only?It won't be for tax reasons. At that level of income, the top rate of tax would be due no matter what.

I can only think that these payments are a way of getting additional cash out of the club for the Ince family over and above his (published) managerial salary.

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[Billy Whizz]

It won't be for tax reasons. At that level of income, the top rate of tax would be due no matter what.

I can only think that these payments are a way of getting additional cash out of the club for the Ince family over and above his (published) managerial salary.

Sent from my SM-A510F using Tapatalk
Presume you mean Tom Ince, his dad wasn’t the manager

[CropleyWasGod]

Presume you mean Tom Ince, his dad wasn’t the managerSorry...didn't read the article properly.

Take 2.

Paul seems to have been doing the actual scouting. The contract was with his wife's company. What we don't know is whether he was a director (or even an employee) of that company. If he was, I can't see that there's anything wrong with the arrangement.

Except, of course, the ridiculous amounts involved [emoji16]

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[Dalianwanda]

I ****ing hate hate hate The Rangers (and i know hate takes up a lot of energy).

[Fuzzywuzzy]

Are they dead (again) yet? Must be a massive pile under a carpet somewhere in Hampden.....

[Ozyhibby]

https://rangers.co.uk/news/headlines/financial-review-3/


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[Just Alf]

They're doing well, only a £0.9 million loss because they've received £17.7 million in soft loans??????????

I suppose there's a reason I'm not an account! :-)

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[Just Alf]

CWG please don't shoot me down right away... Be gentle... At least I don't come up with that 6% (A)nne Budge stuff you're always correcting lol

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[greenlex]

https://rangers.co.uk/news/headlines/financial-review-3/


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Is unaudited trading results a usual measure of said performance or total bull for prospective investors?

[Billy Whizz]

They're doing well, only a £0.9 million loss because they've received £17.7 million in soft loans??????????

I suppose there's a reason I'm not an account! :-)

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Some persons will be wanting it paid back though, wonder how they’ll do it.

[Keith_M]

Is unaudited trading results a usual measure of said performance or total bull for prospective investors?


Interim results, poorly scrutinized, presumably in case questions are asked regarding their eligibility to play in Europe next season.

[Ozyhibby]

https://www.scotsman.com/news/dave-king-makes-11m-offer-for-rangers-shares-after-court-battle-1-4716086/amp?__twitter_impression=true


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[CropleyWasGod]

I'm away for a wee while, on my phone, so can't read the accounts properly.

On the face of it, there has been a slight improvement....but they're still limping badly. 17.7m loans, plus another loan after the period end. [emoji38]

I'm not sure why they bothered publishing these. They're unaudited, so no good to any potential investors or the proposed share issue. They will neither help nor hinder the licence issue.

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[ancient hibee]

They’re published so that supporters will know they’re doing great and rush to renew season tickets.

[Spike Mandela]

I'm away for a wee while, on my phone, so can't read the accounts properly.

On the face of it, there has been a slight improvement....but they're still limping badly. 17.7m loans, plus another loan after the period end. [emoji38]

I'm not sure why they bothered publishing these. They're unaudited, so no good to any potential investors or the proposed share issue. They will neither help nor hinder the licence issue.

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Unaudited accounts could essentially just be a load of made up nonsense. Lucky they have a thoroughly trustworthy person at the helm in Dave King.😎

[CropleyWasGod]

Managed to get a swatch of them.

There's no Balance Sheet. IIRC, they did this last year.

The accounts are virtually useless.

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[silverhibee]

Murty won't be the manager next season, they have been interviewing candidates for a new manager for next season.

[HoboHarry]

If that's the best that Sevco can produce for accounts, then I would imagine it will further encourage shareholders to sell to King if reports of an offer having been made are true......

[Jones28]

https://rangers.co.uk/news/headlines/financial-review-3/


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How does that feel eh? Making losses to complete with Hibs and Aberdeen for second?

[Ozyhibby]

How does that feel eh? Making losses to complete with Hibs and Aberdeen for second?

Not only that but making losses in the 6 months when all the cash comes in. Their full year losses is heading for about £7m.


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[Fuzzywuzzy]

Not only that but making losses in the 6 months when all the cash comes in. Their full year losses is heading for about £7m.


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So they've lost the same year on year since the new club was born taking total debt to well over £20m??

[Fuzzywuzzy]

Not only that but making losses in the 6 months when all the cash comes in. Their full year losses is heading for about £7m.


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So they've lost the same year on year since the new club was born taking total debt to well over £20m??

[Ozyhibby]

So they've lost the same year on year since the new club was born taking total debt to well over £20m??

Their debt in last nights statement was £17m + and that does not include the recent loan in Feb of £3m, so yes above £20m already.


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[FilipinoHibs]

So they've lost the same year on year since the new club was born taking total debt to well over £20m??

King making £11 million share offer for 70% of Sevco shares at 20p a share. Quoted at 27p on unlisted market but no buyers or trades done for some time. Shareholders will bite off King's hand at 20p. Dont know how he will fund it. Will really cash strap Rangers.

[ballengeich]

I'm getting suspicious about King's offer to buy shares as ordered by TOP.

First, I thought that not only was the offer to be made by yesterday, but that there should already be enough money in an escrow account to pay for all acceptances. King's statement is that he'll send out offers soon and will pay once his Co-op divi arrives.

Second, the trust he's saying he'll use receives said divi in rands. This could make it liable to South African exchange control restrictions, so will he be back in a month saying I tried, but South Africa won't let me move my money to follow your instructions?

More delaying tactics in my opinion.

[Hibs07p]

Allegedly he's making the offer through "one of his" trust funds and everything is tickety boo.

Reported in all the online MSM, make of it what you will.



King had until tonight to make the offer to shareholders after being found to have breached strict financial rules when he ousted the previous regime at Ibrox two years ago.

Rangers chief Dave King has tonight made an offer to buy millions of shares in the club just weeks after losing his long-running court battle with the Takeover panel.

The South African-based businessman was ordered by the Court of Session to make the offer as a penalty for breaching strict financial rules when he succeeded in ousting the previous regime at Ibrox two years ago.

The authorities ruled King was leading a “concert party” when he teamed up with a group of fellow fans known as the Three Bears – George Letham, Douglas Park and George Taylor – to hoover up 30 per cent of the club’s shares and boot Mike Ashley's allies out of the boardroom.

King and the rest of his takeover group always denied the accusation.


The Rangers chairman lost an appeal against the court ruling four weeks ago and was given 30 days to make the offer. That deadline was set to expire by the end of play this evening.


"I have defended this ruling on the basis that any offer should not come from me but should be made by one of my trust companies.


"The Takeover Panel has relented to my request for which I am grateful. I confirm that it will be announced today that one of my trust companies will now proceed and shall within a short period make a fully funded offer in compliance with the normal requirements of the Takeover Panel."


GGTTH
Scottish Cup Winners 2016

[CentreLine]

I'm getting suspicious about King's offer to buy shares as ordered by TOP.

First, I thought that not only was the offer to be made by yesterday, but that there should already be enough money in an escrow account to pay for all acceptances. King's statement is that he'll send out offers soon and will pay once his Co-op divi arrives.

Second, the trust he's saying he'll use receives said divi in rands. This could make it liable to South African exchange control restrictions, so will he be back in a month saying I tried, but South Africa won't let me move my money to follow your instructions?

More delaying tactics in my opinion.

I know nothing of these things but, from what I’ve read on here, does there not have to be a prospectus produced giving clear information on the financial situation of the club? This to include all liabilities and to whom? Etc etc.

[Ozyhibby]

I know nothing of these things but, from what I’ve read on here, does there not have to be a prospectus produced giving clear information on the financial situation of the club? This to include all liabilities and to whom? Etc etc.

It does appear as if this fall some way short of a proper offer. Who knows if it’s enough to satisfy the takeover people. I would have thought that a full prospectus would have to be made available with fully audited accounts.


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[ancient hibee]

I'm getting suspicious about King's offer to buy shares as ordered by TOP.

First, I thought that not only was the offer to be made by yesterday, but that there should already be enough money in an escrow account to pay for all acceptances. King's statement is that he'll send out offers soon and will pay once his Co-op divi arrives.

Second, the trust he's saying he'll use receives said divi in rands. This could make it liable to South African exchange control restrictions, so will he be back in a month saying I tried, but South Africa won't let me move my money to follow your instructions?

More delaying tactics in my opinion.
Think the trust is on the other side of the Atlantic from South Africa.

[lapsedhibee]

It does appear as if this falls some way short of a proper offer.
It falls short of any sort of offer. It's a promise to make an offer sometime later. He's in breach and, as he's not scared of the cold-shouldering sanction, should now be horsewhipped.

[ballengeich]

Think the trust is on the other side of the Atlantic from South Africa.


https://media.rangers.co.uk/uploads/2018/03/RIFC-Mandatory-Offer-Announcement.pdf

This states that Laird is SA based.

It's a different trust from NOAL which owns King's existing shares. Is that the one you were thinking of?

[ancient hibee]

https://media.rangers.co.uk/uploads/2018/03/RIFC-Mandatory-Offer-Announcement.pdf

This states that Laird is SA based.

It's a different trust from NOAL which owns King's existing shares. Is that the one you were thinking of?
Very interesting thanks.As usual everything is smoke and mirrors.I was thinking of NOAL and I see that the trust that owns Laird is not named.

[Ozyhibby]

https://www.sfm.scot/is-it-time-for-the-sin-bin/?cid=169434
Did last nights interims need to be independently reviewed?


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[CropleyWasGod]

https://www.sfm.scot/is-it-time-for-the-sin-bin/?cid=169434
Did last nights interims need to be independently reviewed?


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[Godsahibby]

Red Bull Rangers? Just seen a tweet from red bull with them as the new sponsor.

[CentreLine]

Red Bull Rangers? Just seen a tweet from red bull with them as the new sponsor.

Hang on! Must check the date?

[Ozyhibby]

Red Bull Rangers? Just seen a tweet from red bull with them as the new sponsor.

Someone had to fall for it. [emoji23]


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[Ozyhibby]

http://www.thefootballlife.co.uk/post/172458021141/are-rangers-really-in-danger-of-not-receiving-a/amp?__twitter_impression=true

Don’t know if the conclusions are correct but a good review of the licensing procedures and worth a read.


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[ballengeich]

http://www.thefootballlife.co.uk/post/172458021141/are-rangers-really-in-danger-of-not-receiving-a/amp?__twitter_impression=true

Don’t know if the conclusions are correct but a good review of the licensing procedures and worth a read.


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One clear error in the piece is the statement that King will be complying with takeover regulations by a share issue. To comply he has to buy existing shares. A fresh issue is still some time away.

I'm also not sure about the claim that Rangers' losses are ok because they've been covered by equity holders. I'm not certain about my understanding of the relevant regulation, but I didn't think that loans are acceptable. I thought the losses had to be covered by a fresh share issue so Rangers' would not meet the requirements.

[Godsahibby]

Someone had to fall for it. [emoji23]


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🎣 I’m blaming the pints and late night!!