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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67Heaven … I am Neil Lennon..!!.. Ibrox belongs to the creditors
21:19 on
1 May, 2013
Dunfermline player
Barca haven’t been the same since we humped them.
FT 3-1 the young bhoys -well done lads
Still 13 minutes for Bayern to match Frankfurt’s record margin of victory in a European semifinal (12-4 vs Rangers in 1959-60)
I liked this one on twitter
Celtic Football Club @celticfc 3s Full time at Hampden – Celtic U20s are record breakers – quadruple double champions! The SFA Youth Cup is staying at home.
Celtic win the Cup……!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Roy Croppie
If you about, drop me an email at: my moniker@yahoo.co.uk
HH
CRC
Well done young hoops
greenyin
As far as I can see most of Barca crowd staying the course. Great credit to them.
ernie lynch
21:21 on 1 May, 2013
Hahahahahahahahahahahaha….
67Heaven … I am Neil Lennon..!!.. Ibrox belongs to the creditors
What do you think!! Losers get the man of the match..
Congratulations to the young Hoops.
Doc is Neil Lennon
21:20 on
1 May, 2013
Just joking :-) Will go to reduce the losses for the season. Been a very good 5 weeks with the National as well.
HH
CRC
starry plough
21:24 on 1 May, 2013
Hahaha….typical hurtin’ shortbread
Well done to the Hoops. Great achievment, the future is bright.
corkcelt
21:23
Radio Nacional have been giving the home crowd pelters for being 100,000 of them and making practically no noise all night. The people I can hear (radio) are the Bayern fans.
Well done the Young Hoops and CRC!
La Liga without FC Sevco are facing armagedón according to Chairman of the league, Arrodillo Burro
Bayern look unbeatable, but get your money on BvB for the final. Come back against Malaga, squeaky bum last 10 minutes last night! Their name is on the Big Cup.
illogicalbettingcsc
Paul67 et al
Well done the young Celts!
Need a goal from Barca, for 35-1 bet!
Well done to the young bhoys.
DeniaBhoy
How then do you explain their shocking performance, on their own ground, last season in the CL final?
Celtic First, They may not be making noise but they are still there. Those fans never ever experienced anything like this before.
Barca got Lennied.
Looking forward to the BM getting Lennied next season :))
NatKnow
Arrodillo Burro.
Very good.
I think it would be a fair observation to say we have had excellent youth teams for many years – teams that have competed well against the best in the world at youth tournaments. Great pity that so few of these fine young players make the step up to senior level, they obviously have the talent when 15-19 years of age to play with those that do go onto better things. To only have had a handful from this talent pool making the breakthrough in the last decade is a real shame.
Kikinthenakas
Thoughts & prayers
Pogmathonyahun
I have a notion that they will do Bayern, should be a crackin game.
Swally says ” come and get me barca”
Celtic_First
21:28 on
1 May, 2013
NatKnow
Arrodillo Burro.
Very good.
;-)
The Germans are singing “Footballs Coming Home” :))
starry plough
21:24 on 1 May, 2013
Probably too many hoops players to choose from. So they, ehhh. Give it to the opposition
Congrats to the U20s. well done. Sounds like McMullan is one for the future U17’s on Monday , U20s tonight.
Leftclicktic , see you on the 11th – any time from 11.00am .
The Yo-Yo of Honour
RRC
BMCUWP
BakuBhoy
Masty is Neil Lennon
Doc is Neil Lennon
TheCelt45
Cowiebhoy
FourGreenFields
PMTYH
AyrshireTim
Bradbhoy
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.
TenaMen on order.
http://www.virginmoneygiving.com/team/KanoBungee
Sanna
67Heaven … I am Neil Lennon..!!.. Ibrox belongs to the creditors
21:19 on
1 May, 2013
Is Smith a Celtic player ?…..shortbread man of the match
…………………………………………………………………………………………………………..
No!
Surprised eh?
You should have listened to the CTV commentary.
Gerry’s motm was Paul George while Kenny picked Callum MacGregor.
HH!!
The final involving 2 German teams at Wembley on the 150th anniversary of the FA will really p!ss off the Sun and all the other xenophobic rags dan sarf.
At least the Celtic songs are being played…….HH
ElDiegoBhoy – I can’t, but they could have easily been 3-4 goals up in the first half hour before Chelsea contributed anything to the game. I still maintain, having watched them through the whole campaign last year and this year, that they are the best team in Europe. They have left Barca looking like amateurs over two legs. No other team in the world could have got that aggregate score.
London will be an interesting place come May 25th.
I bet the German fans will look for a carnival, I hope they get one.