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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 on

    Gary67

     

     

    Interesting times.

     

     

    The problem I see with Park and Johnston doing that is that the previous set of accounts were underpinned by a promise that NOAL would provide deficit funding. Take that way and someone else needs to provide such a promise – is Park willing to sink more soft loans in? Meanwhile Glibby and Barry Scott would be demanding their loans back.

     

     

    I think the smart move would be to resign and wait for the inevitable insolvency event and hope you can recover a bit of the loans you put in.

     

     

    Could be way off the mark with what they will be thinking but I just don’t see how they can recover the situation. King has been an absolute wrecking ball.

  2. Gary67 on 2nd May 2018 2:18 pm

     

     

     

    Could a Park/Johnston axis remove King and try to run a more sustainable club (providing its not already too late)? Was Johnston’s ‘ahead of the curve’ spin last week a kite to see the reaction of the morons?

     

    ==================

     

    Johnson would be under pressure to do something essential to be considered fit and proper.

     

     

    He was Chairman in March/April 2011.

  3. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    PAUL67

     

     

    You certainly didn’t miss your target and hit the wall with that leader.

     

     

    A thing of beauty,there’s yer dinnner.

     

     

    Or,alternatively,

     

     

    WOW!!!!

  4. mike in toronto on

    Hello lads

     

     

    I know some of us spoke before about the upcoming small Del Amitri/trashcan sinatras tour … at the time, the only scottish gigs were in Edinburgh ..

     

     

    but now it looks like there are two shows in Glasgow … July 28 and 29 at the Barrowlands…. two of my favourite bands on one night … (reminds me of the time in 1984, I think, when I saw Aztec Camera and Llloyd cole on the same night … but they were in 2 different venues!… here they are playing together!)…

     

     

    obviously, I wont be there …. but , I know some of you guys are fans, …. so just mentioning it in case some of you might be interested, but had not heard

  5. Some talk that Dave King’s days might be numbered. What I find interesting is that he dined with Gerrard in Liverpool last Tuesday evening and attended the Roma match in the Directors box. It would appear he is driving the negotiations. Not the actions of a man looking for a way out.

  6. Mahe the Madman on

    Good Morning bhoys,,

     

     

    Vfr

     

    if you read this.

     

    If possible i would love a few pics of the Calton. Only If possible and no trouble please .

     

    Think you might see that on the blog more, requests for pics now most have a camera in their pocket at all times. I must admit I find It fascinating to see wee snippets .

     

    Anyway,, sometimes Im confused at the local vernaculars and often the delicacy’s discussed as if your not from there you wouldnt have a clue.

     

    Throughout the years on the blog you often here a word or a phrase and know some know what it means but youve no idea.

     

    So I lately said eff it lets google them and find out what these blokes are on about.

     

     

    Google images ,, skwerr sausage. Hmmm,,,its basically pork meatloaf ? Wendys burgers are square,,place in Fresno does triangle burgers. But let me ask,,the sausage is square and the roll is square? or is the roll round ? Wee corners of the skwerr hang out ?

     

     

    Next,,google images ,,Judith the Scottish weather woman. Then I check again. Seems Ive got the right image but surely not ? Then I remember the general age of the bloggers and it all clicks into place.

     

    I was waiting on a mix of Ila st Clair and Carol Vorderman. Guess ill keep waiting. I can see why she divides the blog and ill leave it at that.

     

    Dick Byrne and the Embrocations down the oul Burns Howff brought me to an early 1930s New York newspaper article.

     

    Spawny git means lucky google says. Lurgy is an infectious disease our good friend google says.

     

    Stovie is a stew heated in a frying pan ?

     

    Bridie is a cornish pastie type thing ?

     

     

    Im a bit wiser at least.

     

    Hope your well

     

    Hail Hail

  7. Hrvatski Jim on 2nd May 2018 1:16 pm

     

     

     

    Whilst all is speculation at this stage, the resignations of Murray and Scott could signal regime change at Ibrox which would be a pity. They are King’s men and Long Live the King.

     

     

     

     

     

     

    However, Celtic is currently valued at £130m – https://markets.ft.com/data/equities/tearsheet/summary?s=CCP:LSE

     

     

     

     

     

     

    Rangers at £21m – http://www.livecharts.co.uk/share_prices/share_price/symbol-RFC

     

     

     

     

     

     

    This scenario does present an opportunity, albeit risky and it requiring cash, good management and some patience, to increase the value of the club. By modern business terms, the debts are not enormous.

     

     

     

     

     

     

    The Bears will rally behind a new investor and leader off the park and with a name like Gerrard fronting the football operations. This will minimise the requirement for short term working capital (providing that it shows some signs of success – i.e. narrowing the gap on Celtic)

     

     

     

     

     

     

    I could be wrong and they may have to go the hard road (via another administration) to recapitalise but I sense that the King era is coming to an end. Don’t discount a Murray (not Andy) being involved.

     

     

     

     

     

     

    I’ll say again – Long Live the King.

     

    ==========================

     

    All of that but until their cry of no surrender to the truth changes, they will forever be isolated on Shutter Island.

  8. Jimmynotpaul on

    Mahe.

     

    Square Sausage is made from beef not pork.

     

    How much beef, well that depends on the quality.

     

    Hail Hail

  9. Davidopoulos on

    Jimmynotpaul

     

     

    It’s a mixture of both beef and pork (traditionally).

  10. Jimmynotpaul on

    DAVIDOPOULOS on 2ND MAY 2018 3:02 PM

     

    Jimmynotpaul

     

    It’s a mixture of both beef and pork (traditionally).

     

     

    Mahe.

     

    Davidopoulos is correct.

     

    Davidopoulos.

     

    Thanks buddy

     

    Hail Hail

  11. Mahe The Madman

     

     

    Plenty of pics of my old Calton stomping ground here.

     

     

    http://glasgowalbum.blogspot.co.uk/2010/03/calton.html

     

     

    The red sandstone tenement adjacent to the Oldest Chippy in Glasgow at 151 Gallowgate is where I was born in 1946.

     

     

    Last year to honour the event a year after my 70thy birthday the GCC painted the gable end with this picture at start of video and third on list, looking along the Gallowgate from Mollendinar St (named after a burn that oozed past St Kentigerns in Duke St ).

     

     

    http://www.bbc.co.uk/news/uk-scotland-glasgow-west-40239903

     

     

    Sir Billy would be pwoud. :)

  12. Davidopoulos on

    Jimmynotpaul

     

     

    But you were right about the quantity of meat and the quality. My mammy brought me down some square sausages at the weekend – she didn’t have time to go to the butcher but had picked them up at the Tesco in Glasgow airport before flying down. When I cooked them they were swimming in grease.

     

     

    Still ate them :)

  13. thomthethim for Oscar OK on

    I don’t know how it will work out, but I suspect that we are entering the final phase of the Big Switcheroo.

     

     

    It was designed by Murray D and guided through the various stages by a selection of unscrupulous figures, well versed in the dark arts of business.

     

     

    Debt dumped and those involved timed out of culpability re the sinking of RFC.

     

     

    They will probably/possibly limp to the end of the season, then enter Administration.

     

     

    It will be parceled up to exit Admin before the start of the new season, all clear of debt, shiny new manager. with Middle East(Belfast) “investment” , raring to go!

  14. AULDHEID

     

     

    In your opinion is it possible that Murray could return??

     

     

    Shirley to God not, that would be the ultimate insult to every football fan outwith Mordor, it’s bad enough with Ole Permatan sniffing around:((

     

     

    HH

  15. There was me thinking the defining property of skwerr sausage was that it was skwerr!

     

     

    The things ye learn on CQN….

  16. glendalystonsils on

    DAVIDOPOULOS on 2ND MAY 2018 3:20 PM

     

     

    I strongly disapprove of cutting corners!-))

  17. Mahe The Madman

     

     

    I knew the Dick Barton referred to in the para below the Shipka Pass picture. He had a shop on London Rd selling wooden fire surrounds and was a bit of an entrepreneur from his teenage years.

     

     

    My gran had a flower shop in Ross St just off London Rd in the pic with St Alphonsus in the distance.

  18. Can anyone tell me if you can still get the wee round sausages that were made of the same meat as the ole skwerr yins?

     

     

    None of them can beat the black puddin’.

  19. But but but but, the sevco press release I saw earlier said all was ok.

     

    Said something about rainbows , pink fluffy bunnies and purple unicorns.

  20. The Battered Bunnet on

    Doubtless there would have been a time when a lorne was filled with whatever scraps and scrapings were to hand, in much the same way as pie fillings use heart and lung (esp lamb). And I’m quite sure there remain sausage products out there that you wouldn’t feed the dog if you knew the ingredients.

     

     

    But the only pork in a Steak sliced sausage is the crispy bacon that goes into the roll with it.

     

     

    Martin42 will be along shortly to put you right.

  21. THOMTHETHIM FOR OSCAR OK

     

     

    I would doubt that DK would have been involved in a DM masterplan, not unless he was getting his 20 mil back:)) That is and always has been DK prime motivation in my opinion.

     

     

    No love lost between them two by all accounts..

     

     

    Of course when it’s coming out of Ibrox just about any kind of unholy alliance is possible:))

     

     

    HH

  22. Davidopoulos on

    I’m not gonna participate in this Lorne conversation any longer, I’m just going to get upset…

  23. glendalystonsils on

    DAVIDOPOULOS on 2ND MAY 2018 3:25 PM

     

     

    Got any links to the round ones?

  24. glendalystonsils on

    DAVIDOPOULOS on 2ND MAY 2018 3:29 PM

     

     

    I would rather a ‘skwerr’ roll to fit the sausage-))

  25. bournesouprecipe on 2nd May 2018 12:39 pm

     

     

    Paul67

     

     

    Eh…………. but what about the price of pies in the Jungle

     

     

    ————————

     

     

    I believe they are £49 now. ?

     

     

     

    KTF

  26. Hunderbirds are Gone on

    I have fond memories of my pre-school days, spending the day at my Grannies in Barlanark, as ma maw worked full time. When she was making breakfast, as a treat, she used to let me eat a few bits of raw skwerr while waiting on the rest frying…

     

    … a fond memory that did not marry well with the answer to a question to a mate in the pub, who had just started working as a butcher…

     

    … “So What’s in the skwerr sausage mix?”. “It’s meat” says he. “Mostly hoofs, lips and…er…Assets”

     

    Still love ye Gran(RIP), but I’ll be having a word if I ever get to join ye up there.

     

    ?⚽️

  27. MAHE, I will get some current Calton picture up over the next week or so.

     

     

     

    KTF

  28. starry plough on 2nd May 2018 3:15 pm

     

     

     

    AULDHEID

     

     

    In your opinion is it possible that Murray could return??

     

     

    Shirley to God not, that would be the ultimate insult to every football fan outwith Mordor, it’s bad enough with Ole Permatan sniffing around:((

     

    =================

     

    Like Arnhem, I think letting Sir (strip that title) David Murray have any foot back in Scottish football would be a bridge too far.

     

     

    In 2008, with the big tax case determinations of what Rangers owed HMRC already through the letter box, he spent £10M net on player recruitment (£21M overall offset by £11M sale of 3 players) that had it been retained gross as contingency, would have stopped administration and liquidation.

     

     

    He was care less of Scottish football to the point of criminality.

     

     

    I don’t see him risking the truth to stop him coming out.

  29. Davidopoulos on 2nd May 2018 3:20 pm

     

     

    NatKnow

     

     

    Some maverick butchers make them round…

     

    ———————————————-

     

    Maverick?! That’s perverted!

  30. glendalystonsils on 2nd May 2018 3:23 pm

     

     

    DAVIDOPOULOS on 2ND MAY 2018 3:20 PM

     

     

    I strongly disapprove of cutting corners!-))

     

    ————————————————————————

     

     

    Hehehe!! :-)))))))))))))

  31. Mahe the Madman on

    Auldheid ,

     

    thanks for the response. I have just browsed and found it very fascinating indeed. Some of those sights ive seen.

     

    Just last week some us discussed an older Belfast photo . Many of us are proud of where we come from and rightly so,,I see you are and congratulate you.

     

    Belfast might not be very pretty but the quality of the people comes through in no time.

     

    As for your native city, Im afraid to admit i visited it way too little, due to the career in the most part.

     

     

    Overwhelming memories,, game aside,, are Bertie Auld downing a pint in one in his own bar I believe it was,,the old fashion heavy tankard with the dimples and handle type of pint glass, something i dont think I could find if i tried.

     

    The oul fella was very against the drugs etc and the bar was packed before the game as you can imagine.

     

    A youngun asks him could he squeeze up just a wee bit. He gives him the edge of the seat thinking hes being polite and yer man is gonna take the weight off his feet.

     

    The fella kneels down and puts three cigarette papers on the chair and goes to work skinning up.

     

    Ould fella was disgusted but held his tongue that time as he wouldnt have the night spoiled.

     

    I think that was my first game and i just remember Laudrup collecting the ball about half way and seeming to just waltz towards goal at leisure and slotted it in. 1 nil defeat.

     

     

    The chippie van outside Parkheid,,after a couple of pints a go for a quick bite and read the menu to see half a white pudding in batter supper on the menu which floored me. It goes on your break fast sliced and grilled golden in very little oil, not battered served with chips. There might have been haggis in batter also. I found the food incredible.

     

     

    Hope you are well and thanks again.

     

     

    Thanks Vfr and look forward to it.

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