Expectations from QC report


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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  1. BlantyreKev on

    I remember picking my brother up at 5am on the morning of Seville, day trip with universal travel. Out he comes as dawn broke in a pair of shorts, 80 Euros and his passport (no ticket), retro Lisbon Lions top, tricolor shades and a silk Celtic scarf wrapped round his bonce like a bandana. Smile as wide as the Clyde.



    “Off to Spain doll, back later on.”



    Happy days.

  2. !!Bada Bing!! on

    Ole VP is always getting his silk scarf mixed up with his large selection of cravats …..



  3. Here’s my list of those who will help our host pay for our service:




  4. masty is neil lennon on

    clifftonville celt,


    I was speaking to big seamus (a big new lodge man) the manager of the brazen, he said that gary og was playing in the rock with big sean lyons have you heard anything?.tri coloured ribbon…we still on for cosgroves Saturday? Friday if ye want..

  5. !!Bada Bing!! on

    Tickets for Monday’s Family Day ay CP, were still available at the Celtic Shop in EK about an hour ago.

  6. My Dear Kojo…..



    Whit Dae Ye Make Of The News….



    That Young James Keating……



    Hiz Been Released By The High-Heid Yins



    At Boystoon-Oan-The-Clyde…..?



    Disnae Seem Long Since He Crocked His Cruciate…..



    Playin’ For The All-Conquering Development Squad…..



    And So Soon After Anither Of Our Golden Prospects…..Paul Slane….



    Wiz Told Tae Hit The ‘Yellow Brick Road’…



    Ye’re Surely Runnin’ Low……



    Oan Yer Squad Of Fair-Heided Boys….



    At The Minute..?






    Jings..! Crivvens..! Slap Me,Skippy..!



    Ah See That The U-Bend Dodger ……



    Hiz Returned To These Hallowed Pages..




    Proof Positive….That There Is Currently A Dire Scarcity Of Anti-Psychotic Medication





    In That Fair Land…..’Doon Under’…



    Gie It Anither Flush…..Pilgrim Palomine !




  7. voguepunter on

    Bada bing



    I can assure you,I haven’t worn a cravat since primary school.



    Thingsyoupickupinthebriggat c.s.c

  8. BlantyreKev on




    Think the last one he had was Ekeren!



    And therein lies another dozen stories…..

  9. blantyretim on




    family day including training session open to fans this bank holiday Monday

  10. Hamiltontim on





    16:07 on



    1 May, 2013




    family day including training session open to fans this bank holiday Monday






    I’m going to Dingwall on Sunday…….;-)

  11. harryhoodsdugbitme on

    Phylis. Some shout on the retro scarves. I remember them from the ’60’sAlways thought Celtic missed a trick not selling them. Cheers.HH

  12. mickbhoy1888 on

    Haw vogue did you really take yer nom de plume from the bingo on the Cumbernauld Road because you act like the auld sweetie wife’s who frequent the place (.Y.)

  13. blantyretim on



    so are the players ;)



    they won’t be on the park till 2pm Monday..

  14. cliftonville celt from belfast on

    Tricoloured ribbon



    I might just have to go to the rock now for a pint after the game now that I have an excuse !!!!!!!

  15. Hamiltontim on




    I won’t be home til 2pm on Mon ;-)



    Right 7 CF tickets in hand WOOHOO!!!



    Ps still Ross County tickets available for anyone interested.

  16. Squire



    His post was directed at me, this was the comment that was picked up on……



    { I do believe that the game at the highest level is fixed, but, it’s fixed to a degree less than other sports. }



    No mention of referees or any games.



    I mean the game itself, fifa and uefa are corrupt to the core.



    He has a habit of digging me up, done it quite a few times, especially when I mention conspiracy stuff >}




  17. traditionalist88 on

    masty is neil lennon



    Gary og playing in Dublin on Sunday after the game




  18. voguepunter on




    That’s the very one…..yir patter is like every other thuggy cop I’ ve ever met


    Shit………to…….non existent.



  19. masty is neil lennon on





    16:13 on 1 May, 2013




    masty is neil lennon



    Gary og playing in Dublin on Sunday after the






    I am talking about Saturday mate..maybe the big yin got mixed up//

  20. The Moon Bhoys on

    …are you sure it wasn’t me it was directed at? give it a rest – dog with a bone…

  21. masty is neil lennon on

    I see gary is in the rock on Friday, rock bar here I come then..

  22. traditionalist88 on

    masty is neil lennon



    Nice one, hope he’s not double booked:) Some chanter but not sure he could pull off two venues at once;)




  23. mickbhoy1888 on



    Multiple log ins


    Chapel hoose 1 Internet hub 4 priests with laptops all logging into CQN at the time. Do the all share the same ISP address ?




    A geriatric home somewhere in the west of Scotland a few of the clients are wheeled from their rooms into the common room for afternoon relaxation and social interaction. Do you really expect the carers logging into CQN on behalf of the clients to remember everyone’s log in details or do they just pick the first one that comes to mind.

  24. Dontbrattbakkinanger on

    B/tim -that must qualify as a bounce game. Mo Bangura is bound to make an appearance.

  25. mickbhoy1888 on




    16:13 on 1 May, 2013



    Why is it I expect you have met a few :-)))))

  26. masty is neil lennon on




    just checked the rock website courtesy of TCR, he is deffo playin on the Friday.we arrive the back of one, so a bite to eat and on the razzle. for us.

  27. blantyretim on



    who is in the final; I understand there will be no bad tunes pre ko…

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