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]
1,044 Comments- Pages:
- «
- 1
- ...
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- ...
- 28
- »
kikinthenakas
20:52 on
1 May, 2013
Thoughts and Prayers for “Norrie” his family and friends
Hail Hail
Kikinthenakas-Sorry for your loss.
Praecepta, inspiring story of how football can bring people together.
Thanks for sharing it.
Gordybhoy
The place wisnae full of nutters from Blant..ir ….was it ?
kikinthenakas
20:52 on
1 May, 2013
Bhoys
Pal of mine and all round good ghuy passed away last night….
Norrie, god bless sleep tight….ynwa….
Heard about big Norrie today. Very sad. Must only have been about 41?
sannabhoy
20:36 on 1 May, 2013
……………..
Sannabhoy, what times it at on the 11th?
I’ll get my sis to pop round for some pics, mind and wear a nappy as it could get messy :-)
I will of course sponsor you, good luck.
Ein VOLK……………………………..!
~
Ein HEIMAT…………………………..!
~
Zwei FUSSBALLMANNSCHAFT…..!
~
Hans Hoch…..Tommy Atkins…….!
gordybhoy64, I’ve been to Egypt too and loved it but wouldn’t describe it as quiet & relaxing. Cairo was pure crazy, Valley of the Kings and various Temples along the Nile were simply awesome but Security was very tight and you had to have an armed military escort travelling from town to town.
Kikinthenakas
Sorry to hear about the loss of your pal – RIP.
Twarszik on for Celtic….
Well well what Hitler could not do,Bayern Munich and Borussia Dortmund fans will do, invade london on the 25th of May.
H H
Cowie/gordybhoy
Cheers bhoys.
Gordy wifes pal been twice in last year must have turned the corner mate.
Nakas god rest his soul
Atatijic 2-0 Celts..
2-0
Celtic Football Club @celticfc 10s GOAL!!! Atajic 2-0
Radio Sortbread……commentator “has to be said, good move from Celtic”
Oh, 2-0 Celtic….yeeeeesssss
Yeah Norrie was a good guy, Tragic and total shame. Two really good people have gone today. I hope tomorrow is a better one for us all. Thoughts and Prayers to their families.
KLV
This is what we’re up against- if Wolves get to play with the mighty Carlisle in div 3 next season they will receive a parachute payment of …16 million pounds
2-1
An all German final will annoy the more bonkers elements in the English media so I’m all for that.
Nakas just saw your news, sorry to here that Big Pal…God rest your friend Norrie..
2:0 attajic scores and pars pull 1 back 2:1
81. Goal for Dunfermline 2-1
Pfayr,no from blantyre,but plenty nutters about.
Corkcelt,meant down the red sea area,sharm is developing into a cracking resort
Kikin
Sorry to hear about your amigo.
May he rest in peace.
YNWA
Dbbia
You mean the mighty Port Vale
Celtic Football Club @celticfc 3s 82. Johnstone replaces George. McGregor is booked for timewasting at the corner flag. Strange booking when they were waiting for the sub.
Barca going through the motions.
3-1 Cellts….!!!!!!!!
Denny Bhoy scores with his first touch..
3-1 young hoops!!
Celtic Football Club @celticfc 22s GOAL!!! Johnstone 3-1
3:1 sub denny johnson
What’s the chances of the Spanish economy picking up next year?
Vorsprung Durch Technik CSC
Kickinthenakas
May your friend rest in peace.
Robben is a wee turd
3-1
corkcelt @ 21-02,
Are you sure that wasn’t Larkhall you visited..?