Generic Sevco / Rangers meltdown thread

[marinello59]

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

Eh?

[JackLadd]

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Eh?

https://www.thescottishsun.co.uk/spo...s-next-summer/

[HappyAsHellas]

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Eh?

petrie.jpg

[Deansy]

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


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

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

[CentreLine]

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

[Ozyhibby]

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


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[Kaiser1962]

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

How do you get to this bit?

[Ozyhibby]

It looks like Dave King has been ordered to make a full offer for everyone's shares in Sevco after beings ruled to be part of a concert party?


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[stantonhibby]

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It looks like Dave King has been ordered to make a full offer for everyone's shares in Sevco after beings ruled to be part of a concert party?


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

[Ozyhibby]

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

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


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[Ozyhibby]

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[stantonhibby]

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


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[HoboHarry]

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It looks like Dave King has been ordered to make a full offer for everyone's shares in Sevco after beings ruled to be part of a concert party?


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Will he subject to legal action if he refuses?

[Ozyhibby]

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


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[HoboHarry]

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


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

[Ozyhibby]

http://thecelticblog.com/2017/03/blo...-court-ruling/


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[grunt]

Takeover Panel report in full http://www.thetakeoverappealboard.or...ds/2017-01.pdf

[Velma Dinkley]

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

[JackLadd]

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

[ballengeich]

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

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

How deep are the directors' pockets?

[Moulin Yarns]

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

Is that the farewell tour concert or the benefit tour concert

[Ozyhibby]

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



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[JackLadd]

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

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

How deep are the directors' pockets?

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

[PatHead]

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



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What are The Rangers International shares trading at these days?

[southsider]

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

[HoboHarry]

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

I'm wondering if there are any legal ramifications for Letham, Park and Taylor coming down the pipe for their complicity in this?

[ballengeich]

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What are The Rangers International shares trading at these days?

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

[ballengeich]

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

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

[Deansy]

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



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

Love the ending -

'I will communicate further in due course'

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

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

[Ozyhibby]

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

Love the ending -

'I will communicate further in due course'

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

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

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


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