Its seven months since the Worthington Group, who represent the interests of Craig Whyte, reported Charles Green and Imran Ahmed to the Serious Fraud Office over the ownership of Sevco 5088 Ltd.
Sevco 5088 Ltd bought and paid for irrevocable rights to buy the assets, including Ibrox Stadium and Murray Park, of Rangers Football Club PLC, in liquidation. Those rights were subsequently assumed by a different company, Sevco Scotland Ltd, now called Rangers Football Club Ltd, who are a football club in the third tier of Scottish football.
The question is, how did Sevco Scotland acquire those rights?
When this question was raised back in April, it was reported that Rangers International PLC instructed Pinsent Masons to investigate the matter, but instead, Pinsents reported on whether Craig Whyte was involved in Sevco Scotland Ltd, a company he claimed no connection with.
The BBC, who broke the story yesterday evening, suggest Police Scotland are investigating if Craig Whyte is still involved with “Rangers”. Although this would break the terms of Newco Rangers entry into Scottish football, it is not, of course, a crime, nor something the police would concern themselves with.
More importantly, the BBC suggest police want to speak to Charles Green, former chief executive of Rangers International PLC, about a document submitted to Companies House. The dispute over the ownership of Sevco 5088 Ltd has played out through documents submitted to Companies House, not all of which can be legitimate.
Perhaps the biggest challenge of all to the Newco is that these matters have a history of taking a long time to resolve. Time is not a commodity a company without bank borrowing or positive cashflow can afford.
If only any of us saw this coming………
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CQN Annual is shipping this week:
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Kayal33
✅
67Heaven … I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors
I’m sure it was Partizan at the time. That’s how it was on the programme anyway. Sure of that.
LB
Burgnich – 1970s
Kayal33
No. Not correct mate.
LB
livibhoy – god bless wee oscar
walker?
The Spirit Of Arthur Lee
Correct!
LB
BMCUW
I am often the only guy on the bus who speaks good Italian.The rest prefer to speak Sicilian .13 years in I can understand Sicilian but really struggle to speak it.
SoT… You have to learn it if you want to be part of the “family”
steinreignedsupreme
14:30 on 12 November, 2013
Correct…….think most references now are to sevco also going out of business (just to shut the MSM up)
SOUTH OF TUNIS
I have the same problem with English.
I attempt to explain that this is actually the posh educated version of the Kilwinning accent which we save for outsiders-GCHQ are totally baffled when we speak amongst ourselves-but I usually just give up.
It does though have tremendous transport links-to ensure unsuspecting tourists can get a quick getaway.
I was unaware that Sicily had its own language. I assumed it would have a close variant of Italian.
In previous articles Paul has talked about Sevco doing a sale/leaseback of the assets i.e. Ibrox and Murray Park. Can’t see myself how this can happen as long as there is a serious question as to who actually owns those assets.
Why would any leasing company pay 20 /30 million to a company that may not have legal title to those assets. We would effectively have another Ticketus situation.
If however the sale/leaseback does occur , let’s say for £30m I bet only say £15m is disclosed in the ‘accounts’ and the other £15m is pocketed thru the back door by the Spivs.
Either way it looks like another jelly and ice cream jamboree!
south of tunis
14:33 on 12 November, 2013
That’s because you’re a silly yin ……..ok, I’ve got my coat….LOL
season ticket bonfires!!
Lower Ferniegair in High Dudgeon
livibhoy – god bless wee oscar
14:31 on 12 November, 2013
No, i meant that PARTIZAN scored the 5th goal …….. Hahahahahahahahahahahahaha
67Heaven … I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors 14:41 on 12 November, 2013
“Correct…….think most references now are to sevco also going out of business (just to shut the MSM up)”
It is difficult to keep up with the ole Multi-Rangers situation.
An earlier post mentioned the two supporters being held in Holland.
I am not sure about the circumsances of these arrests but I`ve decide it`s worth a fiver to help a couple of Celtic fans and HOPE they are good guys. Here are the details (supplied by the Celtic Trust ) for anyone else who would like to donate:
Account Name: FAC Legal Defence Fund
Sort Code: 83-21-27
Account Number: 11119109
JJ
Blue Pitch Holdings:
It is not the Motherwell-born billionaire – with wealth of the radar – this is a group of “publicity shy Arabs.”
Ole Malcolm Murray puts forward a stout defence
SOAL I’ve got a cousin called Kevin. Are we related? I don’t remember him playing for the renagers though!!
That`s my fiver off. Dead simple if anyone else wants to support the two bhoys.
JJ
Hugh Bonkle fae Dallas
He is from Dalkeith
67Heaven … I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors
Clever. I like it!
LB
BMCUW
Lu Sicilianu.
A mixture of Vulgar Latin, Greek,Arabic,Norman French and Catalan.
To add to the fun ,it also comes in 11 different dialects
Interesting wee article from a month or two back exploring Celtics relationship with Africa…..not just it’s players either.
http://inbedwithmaradona.com/journal/2013/6/7/out-of-africa
On the African player theme, we have had a few over the years. Where the following value for money?
Viktor Wanyama, Badr El Kaddouri, Diomansy Kamara, Henri Camara, Landry N’Guemo, Oliver Tebilly, Mo Camara, Mo Bangura, Momo Sylla, Jean Joel Perrier Doumbe and of course, Bobo Balde.
I knew a boy called Kevin who was really good at Subbuteo.
Steinreignedsupreme
That’s my cousin
Has anybody heard anything more about the madness that seemed to afflict teh Ticketus people when they lent 27 million to Craigy ?
I can’t believe this is just stupidy.
Mind you, the Independent’s business section recommended Sevco as a buy when they were floated.
stupidity
The Celtic Centre Half whose father was Jamaican ?
It took me a few embarrassing hours goimg through Celtic sweepers, before I realised Roy’s Dad may have been called Jim…
Steinreignedsupreme
“It is difficult to keep up with the ole Multi-Rangers situation.”
From Wikisteria’s entry on “The Multi-shame theory”
Max Tegmark postulated the M-verse some years ago, but the M-Shame theory was not predicted by the Scottish MSM [and definitely not by any internet bampots, oh no], but K Jackson has been picking up awards for doing just that since 2000.
SOUTH OF TUNIS
Sounds like the early Sicilians weren’t so good at defending themselves!
Thankfully they invented the Lupara…
The Spirit Of Arthur Lee 15:01 on 12 November, 2013
“That’s my cousin”
He could never pass a mirror without looking in it. A very bright laddie though.
Orwell with irony,apologies if already posted.The welfare state for the rich is alive and thriving.Shame.
https://mail-attachment.googleusercontent.com/attachment/u/0/?view=att&th=1424cb6748408cac&attid=0.1&disp=vah&safe=1&zw&saduie=AG9B_P93qG6yRdNEGv79PNm_GHJs&sadet=1384266843514&sads=Ya9-MEmEi4aWfg9zKGXJcLX12zk
What’s the chances that “Uttering” will be high in the Boys in blue investigation of all things sevco?
greenmaestro 15:04 on 12 November, 2013
Keech Jackson – the guy can spot a billionaire a mile away.
took my wee mum to celtic park today to do the stadium tour (see brick in tunnel dedicate to my granddad). tour guide was very good and it was worth the money. even so, as I went round the ground I felt the club really could step it up a gear. celtic really need to build the dedicated museum, shop and café asap.
(p.s. told the old ticket office (tomorrow)and London road school are coming and there was a lot of surveyors about)
HH
AoW
2. Who is the only team in football that is made up of only vowels? WOLVES
What about the U.A.E.?
“More importantly, the BBC suggest police want to speak to Charles Green, former chief executive of Rangers International PLC, about a document submitted to Companies House. The dispute over the ownership of Sevco 5088 Ltd has played out through documents submitted to Companies House, not all of which can be legitimate.
Perhaps the biggest challenge of all to the Newco is that these matters have a history of taking a long time to resolve. Time is not a commodity a company without bank borrowing or positive cashflow can afford.
Once again there is a BBC article that intimates that the Whyte Knight is up to no good, then you read it and lo&behold he who could be the wronged party.
Interesting that this investigation comes to light now, my amateur arithmetic suggests the new Club will struggle to make it to new year.
That being the case surely their best plan to maintain solvency was a sale and leaseback of the Stadium and Training Ground – giving them funding to continue until Champions League glory.
Now surely with a criminal investigation into the true ownership of these assets it could Kibosh any sale.
Personally I believe with annual leasing costs coming out their revenue, NewCo could not afford to compete with Scotland’s top teams for some considerable time.
Yet how they finance this Season NOW is a mystery to me.
I’m confused, is this a rock and a hard place or out of the fire into the frying pan?
ToYaHCSC
SFTB – Only other person who came up with that wiz a zombie in work (oxymoron?)!
No offence mate. :-)