Quantcast

Expectations from QC report

1044

There appears to be a degree of confusion over the report Rangers International FC PLC have commissioned into the conduct of its directors.  This report resulted from the revelation that Craig Whyte was a director of Sevco 5088 Ltd, the company which paid for exclusivity rights and had an irrevocable agreement to buy the assets from Rangers administrators, Duff and Phelps.  Several RIFC directors were unaware of links between Whyte and Sevco 5088 and were so concerned they demanded this independent inquiry.

In short, the board need to know if information given to them by fellow director, Charles Green, is wholly correct and reliable.  Another PLC has also told the stock market they have made a report to the Serious Fraud Office, for a company director, this cannot get more serious.

The report is unlikely to come to any hard conclusions as to the legal status of assets like Ibrox Stadium, that is a matter the courts could later take a different view of, or of the club’s entitlement to associate membership of the SFA, which will be a matter for Mr Ogilvie and his board.  It will more likely do little more than inform the RIFC board if they have reasons for alarm.

On becoming aware of a potential serious corporate matter directors must take steps to confirm any disputed information, consider potential consequences for the company and correct any stock market announcements which were subsequently found to be inaccurate.  This is the road the RIFC board have gone down.

If the report indicates that the courts are unlikely to rule that Sevco 5088 Ltd can be considered a part of RIFC group, and that its entitlement was inappropriately assumed by Sevco Scotland Ltd (now The Rangers Football Club Ltd), the directors will then, and only then, have enough information to decide if some of their worst fears will be realised.

If Mr Green found his grilling by STV difficult, he will find the forensic accountants and lawyers no less taxing.  In answer to their questions I wonder if he’ll say, “Define Craig Whyte”.
[calameo code=00039017118d2251efdd9 lang=en page=136 hidelinks=1 width=100% height=500]

Click Here for Comments >
Share.

About Author

1,044 Comments
  1. Pages:
  2. 1
  3. ...
  4. 8
  5. 9
  6. 10
  7. 11
  8. 12
  9. 13
  10. 14
  11. ...
  12. 28

  1. ArranmoreBhoyLXV11 on

    HH

     

     

    Schoolboy formations in the Barca game. ” Pure magic” btw… It s all out charging up n down the pitch..

     

     

    Where’s your 4-5-1 s now?

     

     

    Get intae them…

     

     

    HH

  2. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    Fabregas is the weak link….

  3. unionbearBhind on

    has jaba done walking away or is he the blue pimpernel, gone very quiet for a long long time mibe he could do everybody a favour & take the wonderful pension chuck promised him?

  4. !!Bada Bing!! on

    Mate just phoned Sky to cancel sports channels,said he only watched football and close season coming up,they gave him 4 months sports channels for £5.

  5. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    Bayern don’t do mistakes, do they….!!!!!!!!

  6. !!Bada Bing!! on

    Movie about murder of Escobar after 94 World Cup on ESPN Classic Sky 425 @ 11pm

  7. masty is neil lennon on

    Celtic Football Club ‏@celticfc 8m

     

    HT: Dunfermline 0 Celtic 0

  8. masty is neil lennon on

    I think we showed the rest how to beat barca, keep them wide and don’t let them play through you and they are far more less effective.

  9. unionbearBhind on

    no real invention for barca. Bayern scrapping away breaking everything up. look comfortable & taking no chances, defending well & trying to catch them on the break!

  10. NatKnow - "We welcome the paper-chase..." on

    starry plough

     

    20:27 on

     

    1 May, 2013

     

    I guess Barca will be in the market for a striker soon..

     

     

    Celtic need to stick a “Not For Sale” sign on Mo “Bang Bang” Bangura

  11. Last few times I’ve watched Barca I’ve got the distinct impression they could play all night and not score.

  12. blantyretim on

    Barca pretty average without Messi fabregas average player dont like him afterhis bbehaviour at celtuc park with the arsenal.

     

    Bayern dangerous in the break.

  13. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    natknow – “we welcome the paper-chase…”

     

     

    20:29 on 1 May, 2013

     

     

    Or even better, they could go for elbows ……. Hahahahahahahahahahahahaha…

  14. Barca have never recovered from that night in paradise.

     

     

    They knew then the game was up.

  15. The Yo-Yo of Honour

     

     

    RRC

     

    BMCUWP

     

    BakuBhoy

     

    Masty is Neil Lennon

     

    Doc is Neil Lennon

     

     

    Thank you , one and all .

     

     

     

    The Kano Foundation (and yours truly ) are taking part in a fundraising Bungee jump at Xscape , Braehead on 11th May .

     

     

     

    I believe the crane is 160ft tall , and as i’ll be hurling towards the ground at up 70mph , i hope they tie it on tight ! Maybe a triple knot might be an idea.

     

     

    Please sponsor me – i’m not gonna give it “it would be great if you could” or “if you can find the time” – simply , please sponsor me . Gulp.

     

    http://www.virginmoneygiving.com/team/KanoBungee

     

     

     

    FFM, no probs. it was just a late-night kick-around of ideas – next time.

  16. Fanapatriot

     

     

    Congratulations on your podium.

     

    Trust the christening went well?

  17. NatKnow - "We welcome the paper-chase..." on

    67Heaven … I am Neil Lennon..!!.. Ibrox belongs to the creditors

     

    20:33 on

     

    1 May, 2013

     

    natknow – “we welcome the paper-chase…”

     

     

    20:29 on 1 May, 2013

     

     

    Or even better, they could go for elbows ……. Hahahahahahahahahahahahaha…

     

     

    An incur the wrath of 500M zombies?! Simple Lee would not sign for a smaller club than the Sevco anyway… ;-)

  18. Pogmathonyahun aka Laird of the Smiles

     

     

    I’m up for it, I can’t book a flight this month as I am skint, we’re coming over to visit my Mum soon so our cash is already spoken for, I’ll have a look at the end of the month and see if I can get booked up, you’ve booked I see, well done Mate, I’m guessing I’ll be there!!

  19. BT, wonder if they’ll risk Messi in the second half, if its a small hamstring injury he could end up with a major problem.

     

    As it is, they are doing little, but an early goal in the second half and you never know.

     

    Bayern have been playing well.

  1. Pages:
  2. 1
  3. ...
  4. 8
  5. 9
  6. 10
  7. 11
  8. 12
  9. 13
  10. 14
  11. ...
  12. 28