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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Miki 67
I heard about the shooting on 5live this morning. Someone in the studio quipped that they’ll probably deal with it by allowing 2 year olds to bear arms.
Shameless Repost
The Yo-Yo of Honour
RRC
BMCUWP
BakuBhoy
Masty is Neil Lennon
Doc is Neil Lennon
TheCelt45
Cowiebhoy
FourGreenFields
PMTYH
AyrshireTim
Bradbhoy
DBBIA
Oglach
bognor bhouyle
angelgabriel
Fortunes Favour Mibbes
3mick3
Jobo Baldie
Minx1888
Richie
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 .
Stats: Crane 160ft – Check
Elastic : Better be a dam sight less than 160ft – Check
Sannabhoy : TenaMen and screaming like a woose – Check
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
BMCUW
Cheers auld yin I’ll need to go back to it.
Hope mummy is taking care of her Bhoy :-)
Sanna
If you repost the link on the new article I’ll put a few pennies in mate.
I wonder who priced this? Lol
Berlin CityTourCard 2013 (AB)
Berlin (fare zones Berlin AB including Tegel Aiport) valid for one person. Children unter 6 years, buggies, luggage and a dog travel for free.
48 hours only € 16.90
48 hours only € 16.90
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is that the working title for that Craig Whyte film.
Kayal 33
Given the evidence it seems like a no brainer. I’d go for it too. Be a long winter though, hopefully broken up with CL games or Europa cup. Don’t see why they don’t give it a five year trial. There is also the added benefit we would not be in competition with the EPL for TV viewers.
four celts on pfa team of the year…kelvin wilson.charlie mulgrew.victor wanyama and adam matthews..hail hail to them
Are you about Phils??
Murdochbhoy, yermanfromMK
08:07 on
2 May, 2013
Good morning CQNers,
Sad to see the heroic deeds of a priest dismissed so easily as ‘guff and tosh’, equally I’m dismayed some would dismiss the vandalism of a kids as some sort of lesser crime when compared to the list of injustices visited on Celtic and it’s supporters.
====
I couldn’t care if he was a Jedi Knight the point was about the overabundance of references to Irishmen (sic) who had served in the British army. The fact that he was a RC clergy man has nothing to do with it. I am sure there were many herioc deeds by clerics of many denominations.
Congratulations to the Young Celts!
What an achievment!!!
Kikinthenakas.-Happy birthday, enjoy your day
What does Test mean??
That time of day when nobody posts in case they miss out on a ‘podium’ daft.
HT cheers.
why don’t you make it your post when you’re podium-hunting ?
:)
Sanna
Kikinthenakas – Have Ghood Day M8
Miki67 – Keep It Lit
NFL – Stop The Cronyism or else…..
Paul67 – Keep On Keeping On
The bored – Ah’ve No Goat enough time tae sae it awe…..
The Green Brigade – You’re The Last Remaining Strands Of Cellic-ness Aboot CP
That’s All Fholk’s – Off oot.
TwoMacs
You can see me from there?? lol o)
Keep ur powder dry Bhoys!!
Aye Jude, yer invisibility cloak needs new batteries, off oot!
Breaking News
Podium Hunters Chase has been cancelled due to Health and Safety reasons . To many people grouped at the starting line .
Get back to work the lot of you :-))))
TwoMacs
Off oot tae where?
A decision on whether Hearts’ creditor, Ukio Bankas, will be declared bankrupt by a Lithuanian court may not be made public immediately.
A bankruptcy hearing began on Thursday morning in a Kaunas court.
BBC Scotland has learned the judge’s decision will be given to the parties invovled but may not be made public.
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booooooooooooooo
jam67
900 coming up
Could this be the last post?
naw
FGF
Well said. The wheels of industry have stopped out there.
good a new page..easier to refresh lol
Funny how the ole CQN love wolves are always going on about cliques and cronies..
wont be long now..tap tap tap
1300 hours???
george best is a player i’de loved to have seen in the hoops..tap tap tap tap
tb
Thers summdae at your door.
Loitering with intent as usual I see.
am no getn it lol
whos that lookin in yer windae jude
Celtic shop Coatbridge no training day tickets left,
expecting another 250 later but dont know what time they will arrive.
jude2005 is neil lennon \o/
Just in from Health and Safety
It has been decided that as nobody gained a sporting advantage today’s Podium Chase will go ahead as planned :-))