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”.
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leftclicktic
21:10 on 1 May, 2013
Ref advised of his mistake by linesman…
PF Ayr,
Re Barca defending high balls.
Not only did Lenny get the tactics that inspired subsequent teams to overcome their fear of the Barca goal machine.
Celtic had nothing to offer up front with high balls in Lenny’s first year. He sorted that out (and no
o.g
2-0 og
fourth double in a row on its way to paradise..go on thr young hoops
Keep up with me, chaps…..!!!!!!!!
6-0 Bayern ….oh, dear
OG …Piqué
Barca not at the races
Once again …no defence from the FB area ….hopeless
Kenny Sheils needs to remember that ,as far as I know, only one SCottish manager can’t walk through Glasgow without being beaten up.
The same manager who can’t do his job in Edinburgh without being punched in the face.
If you are sgoing to score an own goal you might as well do it like that. What a cracker.
Kickinthenakas
Sorry to hear about your friend, may he rest in peace.
OMG 2 nil to Bayern. Barca 6 down on agregate. If that happened to us against Bayern there are a few beauts on here calling for Lenny’s head.
DBBIA
What’s the garrulous gobshite Sheils be saying now ?
Barca 180/1 to win the game now. Incredible
Somebody you wouldn’t want to see in the Hoops – Robben
It’s coming home, it’s coming home, it’s coming…….Football’s coming home!
That was a far better goal than Lustig’s.
3-0 Muller
7
OMG
7-0 agg
…and now a few actually complain about his overuse of that tactic, after complaining previously about him always walking the ball into the box, or using Kris and Joe to score from outside it.
Lenny is a seriously under-rated manager which sadly makes it easy for other clubs to snatch him from us.
3-0 to the Munchen Boys
This is now a humping.
Correction Müller
Celtic Football Club @celticfc 23s 90. Four minutes of stoppage time is about to begin…
Vmhan , Thanks. 10.00am . I’ve got the TenaMen XXL on order !
CRC, quids in mate.
Bayern are a serious team
Lost for words. If twas us the cry to sack Lenny would be strident.
Time to get sevco fast tracked into la liga methinks.
Ffs. Flamin Samsungs! Not a go at you PF Ayr, just a rant I developped from your post about Barca’s defending in the air!
3-0
Muller …exposes Barcas defensive frailties in one
No FB cover …cross to back post …beaten in the air …dreadful defending
Is Smith a Celtic player ?…..shortbread man of the match
Doc is Neil Lennon
21:17 on
1 May, 2013
Ha, ha, yes. Too think I wasted £3 on Barca to win at 21s last night to cover the bet as well.
HH
CRC
My Dear,dear,dear,friend… The Singing Detective..
Hiya,Pally?
Like Ah said..
Young Denny… Proves Me Right…
Right?
Only oan fur a few minutes..and
Slam , Bam, thankee Sam..
And He Scores..
Celtic 3 Dunfermline… ??? ( Who Cares? )
‘Denny Johnstone, is a Real Up n Comer…
He has that elusive.. ” Spark” , that Ah always look fur,in a Youngster..
And… the Fact that He is Gonna End Up.. Built like a… Brick Oothoose..is anither Plus fur this Youngster..
He has the Quick feet.. tae..and he knows how tat Direct the ball intae the Net, via his Heid..
Yep.. He has Goat everything that is needed… tae Succeed..
Kojo
Still, Laughin’
Happy as Larry.
Celtic Football Club @celticfc 17s 90+2. Last change for Celtic – Paul McMullan, who scored two goals in the Glasgow Cup final on Monday, replaces Atajic.
I said on here back at the start of the CL campaign that in my opinion BM were the best team in Europe – and have been for last two seasons. They will be top dogs for next 2-3 years, this is their era. I think the same will be true on the international stage, Germany to win in Rio.
southside
21:18
Time to get sevco fast tracked BACK into la liga methinks.
—
Fixed that for you. That’s what they always say, isn’t it?
CRC, don’t grumble about a £3 stake, you just won £60ish.