Generic Sevco / Rangers meltdown thread

[Jack]

This quote is hidden because you are ignoring this member. Show Quote

Wasn't it reported, glowingly, that King was going to "over-invest" to make sure they're competitive in the top flight though??

Bit strange. What's happened to the war chest??


Sent from a phone

Nobody gave him any of their money to invest.

[Bostonhibby]

This quote is hidden because you are ignoring this member. Show Quote

Nobody gave him any of their money to invest.

A bit harsh surely? The orcs welcomed the latest multi millionaire messiah and you could say he has already over invested, assuming he is personally funding their three recent signings to the tune of several million each.

I hope it never dawns on them that king has no track record of parting with his own money on "ventures" like the new boys. Still at least he seems to be a the rangers man.

[Deansy]

[QUOTE=brog;4409683]

This quote is hidden because you are ignoring this member. Show Quote

I found this after a wee search - From someone who attended day 1 of the appeal.

Ghosh, well done!! Have the MSM picked up on this? I'm in London but don't see anything in DR today.

Probably because the guy's saying the previous decision was wrong - and if the decision is over-turned, you STILL won't read it in the 'Daily R*tard' !

[marinello59]

[QUOTE=Deansy;4410119]

This quote is hidden because you are ignoring this member. Show Quote

Probably because the guy's saying the previous decision was wrong - and if the decision is over-turned, you STILL won't read it in the 'Daily R*tard' !

The relevant points have been reported in the media.

[Jack]

This quote is hidden because you are ignoring this member. Show Quote

A bit harsh surely? The orcs welcomed the latest multi millionaire messiah and you could say he has already over invested, assuming he is personally funding their three recent signings to the tune of several million each.

I hope it never dawns on them that king has no track record of parting with his own money on "ventures" like the new boys. Still at least he seems to be a the rangers man.

TBF it seems he did part with £20m to them previously and had his fingers severely burned to the tune of around £18m! Considerably more than he's currently worth apparently.

Part of me is thinking his plan was to recoup this loss by milking sevco for all they're worth.

Not getting promotion scuppered that plan and he's now desperately seeking plan B without [comparatively speaking] a bolt to his name.

[Bostonhibby]

This quote is hidden because you are ignoring this member. Show Quote

TBF it seems he did part with £20m to them previously and had his fingers severely burned to the tune of around £18m! Considerably more than he's currently worth apparently.

Part of me is thinking his plan was to recoup this loss by milking sevco for all they're worth.

Not getting promotion scuppered that plan and he's now desperately seeking plan B without [comparatively speaking] a bolt to his name.

Yep. He will likely be after recovering his losses rather than "over investing" this is a guy with a proven record of keeping his money close.

[Keith_M]

This quote is hidden because you are ignoring this member. Show Quote

TBF it seems he did part with £20m to them previously and had his fingers severely burned to the tune of around £18m! Considerably more than he's currently worth apparently.

Part of me is thinking his plan was to recoup this loss by milking sevco for all they're worth.

Not getting promotion scuppered that plan and he's now desperately seeking plan B without [comparatively speaking] a bolt to his name.

Weren't there questions raised previously as to whether King really had invested, or lost, £20M?

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

Weren't there questions raised previously as to whether King really had invested, or lost, £20M?

I think he's on the list of creditors published by BDO. That says to me that they have accepted his claim.

[Keith_M]

This quote is hidden because you are ignoring this member. Show Quote

I think he's on the list of creditors published by BDO. That says to me that they have accepted his claim.

Possibly, but it doesn't actually answer my question.


Accountants? Pah!

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

Possibly, but it doesn't actually answer my question.


Accountants? Pah!

If they've accepted his claim, it means that he has been able to show that he did invest the £20m.

[StevieC]

This quote is hidden because you are ignoring this member. Show Quote

If they've accepted his claim, it means that he has been able to show that he did invest the £20m.

How do you define "invest"?

Would that purely relate to "shares" or "loans", rather than straight cash "gift" to improve playing squad?

[Bostonhibby]

This quote is hidden because you are ignoring this member. Show Quote

If they've accepted his claim, it means that he has been able to show that he did invest the £20m.

Probably tried to write the loss off to tax - in South Africa naturally......................

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

How do you define "invest"?

Would that purely relate to "shares" or "loans", rather than straight cash "gift" to improve playing squad?

If BDO are including him as a creditor... which seems to be the general opinion in the mainstream and social media.... it means that he gave them a loan. If he took shares in the company, he wouldn't be getting that money back. If he gave them a gift, he wouldn't get it back either.

[brog]

This quote is hidden because you are ignoring this member. Show Quote

If BDO are including him as a creditor... which seems to be the general opinion in the mainstream and social media.... it means that he gave them a loan. If he took shares in the company, he wouldn't be getting that money back. If he gave them a gift, he wouldn't get it back either.

It's a very strange one. I don't think a list of creditors has been issued since Duff & Phelps did so in 2012. Neither King nor his company Ben Nevis appeared on that list. However, as you say & based on reports in the MSM it appears King's claim that he loaned David Murray £20m some 14 years ago has been accepted & he's now the 3rd largest creditor behind HMRC & Ticketus.
Just how he was added to the list is the real mystery & way beyond my knowledge of insolvency but the arrest of 3 Duff & Phelps employees & the multi million payment by Whyte's lawyers may not be coincidental!

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

It's a very strange one. I don't think a list of creditors has been issued since Duff & Phelps did so in 2012. Neither King nor his company Ben Nevis appeared on that list. However, as you say & based on reports in the MSM it appears King's claim that he loaned David Murray £20m some 14 years ago has been accepted & he's now the 3rd largest creditor behind HMRC & Ticketus.
Just how he was added to the list is the real mystery & way beyond my knowledge of insolvency but the arrest of 3 Duff & Phelps employees & the multi million payment by Whyte's lawyers may not be coincidental!

It had always been my assumption (based on nothing more than .... well, nothing actually ) that the famous £20m was for shares. That is, until the social media guys started on about the £1.4m that he's supposedly getting back.

Perhaps I have fallen into the old trap of believing that those who say they're ITK are actually ITK. To be fair, nobody with any authority has actually said he's getting any money back..... and the supposed dividend has become one of those internet myths.

[Hibs07p]

Any updates regarding the appeal?

GGTTH

[bringbackbenny]

This quote is hidden because you are ignoring this member. Show Quote

Any updates regarding the appeal?

GGTTH

Day 2 summary here


http://www.sfm.scot/hmrc-vs-mgh/?cid=59607

[Hibs07p]

This quote is hidden because you are ignoring this member. Show Quote

Day 2 summary here


http://www.sfm.scot/hmrc-vs-mgh/?cid=59607

Thanks for the link, but as clear as mud. My own biased opinion is that they ****ed over HMRC, FWIW.

GGTTH

[Ozyhibby]

http://m.heraldscotland.com/news/134...ne/?ref=twtrec

One of the reasons they are skint is that they now have no retail income.

[Platinum Scotty]

This quote is hidden because you are ignoring this member. Show Quote

http://m.heraldscotland.com/news/134...ne/?ref=twtrec

One of the reasons they are skint is that they now have no retail income.

that was a very pleasing read that link, thanks for posting it - shows how much of a shambles they are

[Ronniekirk]

This quote is hidden because you are ignoring this member. Show Quote

http://m.heraldscotland.com/news/134...ne/?ref=twtrec

One of the reasons they are skint is that they now have no retail income.

Interesting Article ,and indicates King hasn't managed to renegotiate very much and nothing to bring in
more money from the Retail side of things Club Crest ,Emblems Aye Ready, all nicely stitched up by Ashley

[Keith_M]

This quote is hidden because you are ignoring this member. Show Quote

Interesting Article ,and indicates King hasn't managed to renegotiate very much and nothing to bring in
more money from the Retail side of things Club Crest ,Emblems Aye Ready, all nicely stitched up by Ashley

is it true that the club motto, 'Aye Ready', it to be replaced with a new one, 'Aye, Right!' ?

[Bostonhibby]

This quote is hidden because you are ignoring this member. Show Quote

is it true that the club motto, 'Aye Ready', it to be replaced with a new one, 'Aye, Right!' ?

"Nae readies"?

[Keith_M]

This quote is hidden because you are ignoring this member. Show Quote

"Nae readies"?

[AlbertK86]

http://www.express.co.uk/sport/footb...-off-Hibernian

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

http://www.express.co.uk/sport/footb...-off-Hibernian

Express shocker..... headline doesn't reflect the facts.

[Spike Mandela]

This quote is hidden because you are ignoring this member. Show Quote

Express shocker..... headline doesn't reflect the facts.

We may not be Real Madrid Mr Warburton however, we HAVE beaten Real Madrid.

http://www.edinburghnews.scotsman.co...s-on-1-3564916

Oldco on the other hand have a record defeat.

http://www.worldfootball.net/teams/r...eal-madrid/11/

[Aldo]

Mind games mind games!

I fully expect the west coast media to up the ante big time as the week goes on regarding Scott Allan and potential moves away from HIBS!

Anything to try and disrupt our preparations leading up to Der Hun game!

[RoscoHibby]

He didn't like the reaction to it? That'll be from the fans and media that witnessed hibs dismantle the Hun multiple times last season and they've seen hee haw yet to suggest their gonna be any better this year, while we're (IMO) a little stronger and a year further on together.

Nail it to the wall. Show these weegie *******5 Real Madrid.

The one thing I agree with him on is that it's an ideal game for both teams preparations for the season. However, I really hope we beat them, again. Not only that, that we completely play them off the park. Again. Would then play the youngsters for rest of petrofac cup.

[bigwheel]

This quote is hidden because you are ignoring this member. Show Quote

We may not be Real Madrid Mr Warburton however, we HAVE beaten Real Madrid.

http://www.edinburghnews.scotsman.co...s-on-1-3564916

Oldco on the other hand have a record defeat.

http://www.worldfootball.net/teams/r...eal-madrid/11/

...and we are Rangers Football Club.... er, well erm, slighty awkward Mark...you do realise you are not ACTUALLY Rangers Football Club don't you?? They were liquidated