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Directors bail as court orders served

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Walls are closing in on Dave King with the news that the Takeover Panel were granted a court order to force the Newco chairman to offer to comply with count instructions that he buy out shareholders outside his concert party.  Money for the offer, totalling £11m, has to be in place before it can be made, which is the sticking point.

While all of this MAY be no more than an administrative oversight, Newco have just announced the resignation of two directors: Paul Murray and Barry Scott.  Murray, a director of former Rangers, has been an absolute charm.  How Newco will survive without his Midas Touch is unknown.

Directors of a business are liable for its conduct, have a duty to protect the interests of all shareholders and creditors.  If they fail in this duty, they can be prosecuted.  Paul Murray was a close ally of King, especially during the years the Glib and Shameless one agitated to get control of the club he supported all of its life.  To paraphrase Deepthroat, follow the rats off the ship.

The Newco experiment has failed.  It is a shambles at every level, drowning in toxicity, with regulatory, legal and funding challenges out with its control – and things are not going too well on the field either.

Remember, current custodians and fans groups chased the Easdales (actual benefactors) and one of Europe’s richest men (who loaned Newco five players), out of town.  For what? They knew the money they had.  They knew there would not be a Nomad in place “within 48 hours”.  They were not Fergus McCann-type newbies to football, they knew the resources required to run a football club.

They knew all of this better than you or I, but we were the ones pointing out the blatantly obvious.

Where is the Mea Culpa from those who led the fans?  Who is there left with clean hands?  When will fans be told how bad things actually are (they are very bad, btw)?

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  1. DAVIDOPOULOS

     

     

    Did you see Auldheid’s post on the speculation about some involvement of Sir Minty once again in our beloved “sport”, referring to Arnhem and a bridge too far?

     

     

    When there are no bridges left, time to pay the ferryman.

     

     

    Up Pompey!

  2. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    BEATBHOY

     

     

    Murray has never been charged by the Scottish football authorities over any misdeeds relating to his stewardship of Oldco.

     

     

    As such,there is no impediment-as things currently stand-to him returning to the game.

     

     

    Travesty? Of course it is. But he has got away with much more than simply dragging Scottish football through the gutter. So not really a surprise.

  3. FAVOURITE UNCLE on 3RD MAY 2018 9:02 AM

     

     

    Yes there is a curved seating area which CQN have occupied before!

     

     

     

    KTF

  4. BATEEN BHOY on 3RD MAY 2018 10:09 AM

     

     

    OK, you are on the list:

     

     

    ACGR

     

    Hot Smoked

     

    POG

     

    POG’s Bhoy

     

    VFR

     

    Bateen Bhoy

     

     

    6 so far and counting.

     

     

     

    KTF

  5. BEATBHOY on 3RD MAY 2018 10:55 AM

     

    Who scored Celtic’s first and last goals in our second-ever 7-in-a-row?

     

     

    ______________________________________________

     

     

    You will get good odds from the bookies on predicting the last goal scorer in our second 7 in a row (against Aberdeen next Sunday).

     

     

     

    KTF

  6. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    BOURNESOUPRECIPE

     

     

    Following recent discussions about the source of the finest haute cuisine-the roll ‘n’ skwerr-I’ll throw in my tuppenceworth re the scone.

     

     

    Never would I have even thought I’d admit to having one in the first place! But when I’m in Belfast,I’m going back to AVOCA at least once. That’s all I’m saying.

     

     

    Mind you,it won’t be on the Saturday!!

     

     

    PS-I hope Eurochamps67 is on the mend.

  7. BMCUW

     

     

    There was no impediment to Sevco being placed in the top tier to start their life either, until the supporters made it clear that they’d provide one.

     

     

    Bridge too far, line in the sand, up with this I shall not put, everyone has a limit when the urine is being extracted.

  8. 50 shades of green on

    Unless ofcourse we dont score in the league again this season…then the last one would be McGregor…

     

    ???

  9. weebobbycollins on

    VFR…I would like to book my spot outside the window again… :-)

     

    Iwhostillhavenothingcfc…

  10. By the way, if the 54 titles and over 50 other ‘honours’, don’t appear on that link to Sevco, click on the Honours tab for the full fantasy experience of the 6-year-old club.

  11. weebobbycollins on

    Beatbhoy…as you know, there is truth and there is reality…

     

    The truth is, they’re deid!

     

    The reality is…(the sound of knuckles hitting the pavement)

  12. Minimum Pricing for Drink Ref Celticrollercoaster and Pogmathonyahun

     

     

    I live about 4 Miles from Asda Carlisle, so ref above, what about a wee crowd funding to purchase a wee van, stock up and deliver all the Cheap Alcohol at all the home games

     

     

    Investors in this new venture would be greatly appreciated

     

     

    This is an Awe Naw post ?

  13. BMCUW

     

     

    You make a good point about no charge ever being laid against SDM by the SFA.

     

     

    However if (and the evidence in public and not formally public suggests so) the Compliance Officer finds that RFC gained the 2011 UEFA licence by deception, then although Alistair Johnson, who has not yet been deemed a fit and proper person to hold a Director post in a SFA member club, signed off the 2011 Interim Accs, it has to be remembered that SDM was still the majority shareholder and had influence over decisions the Ranger’s Board tool in March 2011.

     

     

    That is clear on decision to sell the club to Craig Whyte where Johnson known reservations were over ruled by SDM.

     

     

    When you look at the charges brought against Craig Whyte for bringing the game into disrepute two points emerge.

     

     

    1. Only CW was charged but not on failure to pay the £2.8m wtc bill. On PAYE/ VAT yes but not the wtc liability.

     

     

    2. To do that details of the background to that liability, which the SFA should have had in May 2011 unless there was another breach of FFP, would have provided SFA with pause for thought in their strategy to isolate CW and make him the fall guy.

     

     

    There is a LOT riding on the Compliance Officer investigation should the authorities really want to clean up Scottish football.

  14. Interesting comment on some zombie page last night

     

     

    Would we be so happy if we were getting STOKE u18 manager ?

     

    4th in Northern section of U18 league 1 point behind Liverpool(3rd) after 22 games.

     

     

    U18 North led by two Manchester clubs by considerable margin

     

    but as name suggests no Chelsea Arsenal or Spuds.

     

     

    Stevie G is sitting above likes of Stoke Derby Sunderland and Middlesboro

  15. lets all do the huddle ? on

    Remaining Cup Final tickets balloted: http://www.celticfc.net/news/14319

     

     

    ——————————

     

     

    they werent balloted

     

     

    they were made available at 11am to those who had bought tickets for the 3 home cup games using their own client refs but werent on the HCTS

     

     

    so there was a mad rush at 11am

     

     

    my guess is they will be gone now

     

     

    So t

  16. lets all do the huddle ? on

    no idea where the ‘So t’ came from

     

     

    but i should have said they were made available first come first serve to the criteria meet-ers

  17. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    BEATBHOY

     

     

    Re Murray,I agree with you. But as yet,the fact remains that he is squeaky clean,officially,as far as Scottish football is concerned.

     

     

    Which is a disgrace in so many ways as he should by rights be in jail. And that’s not just an IMO,that’s based on the fate of others who have cheated HMRC of considerably less.

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