The BBC report that police in England detained four men in early morning raids in relation to an inquiry into the purchase of Rangers by Craig Whyte (not one of the four) from Sir David Murray. This one has been a slow burner so far and although this is a significant step, there are still many layers to be unpicked. It’s been three years since I heard of what was going on in the dying days of Rangers, this step seemed inevitable, but as the years passed I wondered if anything would happen.
Please remember this is a serious legal proceeding, so act appropriately here and elsewhere online. Failure to do so could prejudice future prosecutions – and we don’t want to do that. No speculation on who is involved and what they may have done.
Why are we reading that the European Commission confirmed Celtic did not benefit from state aid? Good grief, if six of you get together and badgered someone into checking if Ronny Deila is in the Norwegian Red Brigade, would anyone subsequently report this nonsense?
Absurd fantasies being denied is not news, unless you’re analysing the absurd fantasists.
I see there are complaints aimed at Ibrox that they are “giving away the family silver to keep the lights on”.
What kind of fool has silver in the drawer but can’t put money in the meter? Football clubs, like all companies, have to keep the lights on and pay all creditors. If they cannot pay, they are legally obliged to sell assets. Failure to do so will result in the court appointing someone to dispose of those assets for them.
This is where Newco Rangers are now. The utter contempt for financial responsibility which has endured at Ibrox for over two decades, means that no one can afford to cherish whatever silver remains. It is perhaps even more futile to blame major shareholders for not accepting an offer to dilute their control and destroy shareholder value – which is an accurate description of Dave King’s recent approach.
Those shareholders were heralded a short time ago for putting their money where their mouths were when the legions of ‘Rangers men’ kept their hands in their pockets. Offering shareholders a deal which would jeopardise their chances of the financial return they expect was a waste of everyone’s time.
Newco is owned by people who have put tens of millions into it and who are looking for a financial return. Any forward plan has to recognise this reality. With trading conditions are severe as they are, the club will sell-off anything they have to compensate these shareholders and meet obligations to tax and trade creditors. Costs will be cut, and if income subsequently falls, cut again.
Having checked out Burton’s online this morning I think I’ve got Christmas sorted. I really hope we see the Sports Direct ‘flash mob’ protests deployed at another of Britain’s major retailers. They are up there along with State Aid campaigns as a productive use of time and energy by people with unparallelled levels of vision and clarity, who really need more focus more/tone down the hissy fits.
I’ve never been one for patriotism but if you’re off to Celtic Park tonight, remember to sing both anthems in the battle of the Celtic nations. This advice may change on Tuesday. It will be great to see Aiden, Shaun, David, Robbie, Martin and Gordon grace Celtic Park one more time. So many great memories…
You can get copies of Caesar & the Assassin, Billy McNeill and Davie Hay’s accounts of managing Celtic from Jock Stein’s departure until the appointment of Liam Brady, here. We’ve stopped taking orders for signed copies, which will only be available at author events going forward.
A CQN’er (and absolute star) has kindly donated two North Stand tickets to Tuesday’s Scotland-England game on Tuesday. He doesn’t want any money, but asked if I could get something for Mary’s Meals for them. Face value is £60 each. Email me before midnight tonight if you’d like them, celticquicknews@gmail.com
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Cops have now amended their earlier statement to read:
“…the ongoing investigation into the alleged fraudulent acquisition of Rangers Football Club in 2011”
Which is a pity, since it’s the 2012 transactions that are the more interesting of the two.
Neustadt-Braw
13:12 on
14 November, 2014
Magnificentseven
13:06 on
14 November, 2014
Neustadt-Braw
13:01 on
14 November, 2014
“Scotzine @scotzine 26s26 seconds ago
David Grier, Gary Withey, David Whitehouse and Paul Clark are the four arrested this morning re. Rangers assets sale.”
what a braw day this is …..hehehehehehehee
you realise the sale could be null and void if the Administrators have fraudulently sold the assets
……………………………..
mmmmmmm sad eh?
hehehehehehehe
Indeed, it could mean that the liquidators own the assets, oh dear
TET
Our paranoia antennae are very sensitive.
I was living in hope that part of the reason for Celtic’s silence was because they were aware that fraud had been committed and they did not want to blunder in and prejudice future criminal proceedings.
Now that action is being taken, it looks very much like the action taken by police and referees at the McCoist:Lennon spat, where they all converged on Neil leaving Ally free to walk away up the tunnel.
I hope this is just the first step and the easiest fraud to prove. I hope it will lead to some fraudsters “singing” and widening the scope of the arrests. But I worry that they will settle for punishing the middlemen and leaving the Big Fish free to profit from their actions.
In the event of a guilty verdict on these 4, there will be a concerted effort to portray Rangers 1872 as an innocent victim of spivs whose original identity should be “restored” even though we have been busy telling you that it was never taken away anyway.
Louden robbed
No State Aid
Burton’s T shirt
Four arrests
International Weeks CSC
Duff and Phelps were one of a few that could afford to have their offices in the London shard.
Good afternoon friends.
very quick dip in over lunchtime just to shout out a big thanks to ACGR, Murdochbhoy, Ohits and Kylie’s brother Tom for your very generous donations.
Just tried a bowl of soup there. What a mess that was!
Back to work for a couple more hours…
Jobo
http://mobro.co/jobobaldie
Wasnt Craigys plan always to be left in the role of landlord only to be hoodwinked by the dastardly Charlie and his former muckers at Duff and Phelps? It must be the 2012 asset disposal to Sevco managed by Duff and Phelps.
setting free the bears for Res. 12 & Oscar Knox
13:15 on
14 November, 2014
What if this ends with the club being given back to David Murray and he only has to give back a pound to take control again?
Club is in the process of being liquidated, assets back in the pool :-)
Could the long arm of the law be getting closer to the untouchable Sir David Murray ? H.H.
http://i.imgur.com/t5MLKpu.gif
The Battered Bunnet
13:12 on
14 November, 2014
STV reporting that…
Police have arrested BOTH of the Joint Administrators of RFC plc, the Managing Director of their firm Duff & Phelps, and the former Company Secretary of RFC plc.
Oh to be a fly on the wall of the interview room.
Some fundamental questions:
Are they investigating the Whyte 2011 purchase, in which Grier and Withey played a prominent advisory role?
The 2012 asset disposal to Sevco managed by D&P?
Or the entire affair?
==============
I queried the date with Peter Smith (STV) on Twitter. He says its 2011 which might mean it started with the CW takeover.
I made point D&P only came on scene as adminstrators in 2012 but he has not responded yet.
If its the whole deal from the off in May 2011 there aint a fan big enough to handle the shit heading its way.
The Battered Bunnet
If it is the 2011 acquisition then surely some of the names mentioned must be incorrect bar two?
Assets eh?
Pity their roof isnae lead instead of asbestos. They might have got something for it.
Teeheehee.
setting free the bears for Res. 12 & Oscar Knox
13:15 on
14 November, 2014
What if this ends with the club being given back to David Murray and he only has to give back a pound to take control again?
That’s the thought that came into my mind, but would he not still be burdened with Historical debt though he could punt that to Ashley.
Soap are you confued yet,you will be
https://www.youtube.com/watch?v=OSaNWYHmUvI
Any truth in the rumour that the charges are grave robbing?
Jobo’s Mobo
Shhhh….move along
Just make sure you support sevco….and the old firm
nothing to see here….they have subverted every rule in the book, but its ok, cause its the old firm innit.
That’s about it….sevco survive due to them convincing some Celtic supporters to keep tugging the forelock.
Shame on you Old Firm fans.
HH
“the braw seven :) ”
Indeed, it could mean that the liquidators own the assets, oh dear
…………………………………
has a lovely scent of irony does it not ………….”liquidators” mmmmm an awfy braw word ….
braw
The Honest Mistake loves being first
13:30 on
14 November, 2014
Any truth in the rumour that the charges are grave robbing?
……………………………….hehehehehehe braw ! and necrophilia……hahahahahahaha
Neustadt-Braw
13:32 on
14 November, 2014
“the braw seven :) ”
Indeed, it could mean that the liquidators own the assets, oh dear
…………………………………
has a lovely scent of irony does it not ………….”liquidators” mmmmm an awfy braw word ….
braw
liquidators has always had a ring to it, braw indeed
Any uttering today?
Auldheid
D&P (MCR as was) is the continuous thread running through the story from Whyte’s purchase through to liquidation.
Quite where the focus of the current episode is remains to be seen.
Allegedly – The Union Bears have stated that a shop lifting boycott of Burton’s will go ahead as planned.
Ally is shocked, aw diddums
Radio 2 are now taking the proverbial by playing……….
Always Look On The Bright Side Of Life………
HH
The Battered Bunnet:
You look at those names mate and something is crystal clear;
This is DEFINITELY about the 2012 case. No question at all.
Magnificentseven
13:37 on 14 November, 2014
Ally is shocked, aw diddums
————————————
To be honest, did he really honestly say he shocked, in all honesty?
Why were D&p trying to sign players days into admin?
Why did they shred a whole room full of documents? Surely as independant administrator their role should have been to turn over the docs to the authorities.
I only care about Celtic in all of this. If things had been different we would have won the league a lot earlier that season, MIH would have lost the tax case before now and Rangwrs would have been stripped of at least 5 titles.
This stuff pours salt into open wounds and makes it all the more galling that the Celtic board encourage engagement with the club with no soul, identity… morals you name it they don’t have it.
Cheated for over a decade, lost millions in income as a result.
If all was right and just the authorities would wind back to the sale of the assets and demand that they are now sold to help creditors.
sftb
That is the worry.
The one who really needs to get investigated will be seen as the duped one.
I would imagine there will be mucho singing, and it’s the toss of a coin as to how far plod will be willing to take it, there will be those who will have to be protected..
Will them in the firing line take one for the cause ?
I am really not going to hold my breath, we have seen the power they have, what can be gotten away with if you know the right people.
WishfulthinkingCSC
HH
bsr
Hilarious!
Re the 4 arrests.
Is this just the beginning?
Please say it is so?
BSR – what can I say!
Just before I head out the door, I think it’s about time we had one of our infamous lists. So with regard to tonight’s match let’s see how divided we are on CQN [for one night only, obviously ;-) ]. The following is from pages 1 and 2 of this thread. Feel free to join in bhoys and ghirls…
SCOTLAND V IRELAND
SCOTLAND –
Jobo
67 European Cup Winners
IRELAND –
I’d say a 100+ name list should give us a statistically acceptable sample.
Aff oot.
our googly eyed friend was only seen to be panicky once …….when Doof and Doofer might not have been chosen as Administrators…..
me I think he is in Chateau le bighands……
time to go through my Charlotte collection …..
braw
Jobo
Who’ll top the £400?
SCOTLAND –
Jobo
67 European Cup Winners
Craigellachie 10
IRELAND –
Phil
Boeriggermortis (winking smiley)
Come on Scotland :)
SCOTLAND V IRELAND
SCOTLAND –
Jobo
67 European Cup Winners
bournesouprecipe
IRELAND –