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. timmy7_noted on

    Auld alki leggo on form today,apparently enraged Celtic fans caused the 1980 riot.



    This will no doubt be a FACT,as they say in some circles,by the end of the day.



    Poor huns gallantly cheering the winning team attacked without provocation by enraged fenian hordes…………..:-)

  2. masty is neil lennon on

    meeting Glasgow airport at 10 Friday morning, gary is on around 9pm who am a kiddin?

  3. Celtic_First on






    Aye, raging, so we were. We wanted to lose and were thwarted by that Danny McGrain and that George McCluskey.

  4. masty is neil lennon on




    good stuff mo chara….missin my 1st vegas ever this year GUTTED..

  5. cliftonville celt from belfast on




    Its all true – full line up on http://www.rockbarbelfast.com was advertised in todays Irish News – sorry can’t do link thingy’s



    Its gonna be a big Fenian Fest on the Falls !!!!!!!!!!

  6. !!Bada Bing!! on

    You can just see a guy rakin aboot in The Bellagio for another IP sign in………10,9,8,7..

  7. cliftonville celt from belfast on

    Celtic Quick News just done the link thingy for me !!!!!



    Thats amazing – I f#@*ing love this blog

  8. mickbhoy1888 on

    the exiled tim



    16:13 on 1 May, 2013



    Here’s one for the wee conspiracy book…… at the end of last nights match when The Chosen one congratulates the Dortmund manager, who is the Uefa representative standing in the background ? None other than one K Scott ex head of security at Ibrox . This is why I was sure that no matter what Howard Webb did in Reals favour last night ,the Hun team was always going to go through



    Anyway C’mon the Barca

  9. blantyretim on




    I thought that was Kenny Scott. but thought it was my meds..

  10. cliftonville celt from belfast on




    Aye will be up after the match more than likely so might see you for a beer

  11. blantyretim on

    Kenny Scott was as we know Eddie Smiths boss, now he has become a match commander…

  12. mickbhoy1888



    I wonder when Ogilvie will be summoned to UEFA? Probably when The Rangers need a European licence.


    All fits into place. Ogilvie gets a job for life and The Rangers get their licence.




  13. Celtic manager Neil Lennon insists it


    is worth “sacrificing” some SPL


    matches for the long-term health of


    his title-winning squad.


    Centre-backs Kelvin Wilson and Efe


    Ambrose and midfield pair Kris


    Commons and Joe Ledley were all


    given the week off before missing


    Celtic’s 3-1 defeat by Motherwell on




    They will be back in contention for


    the champions’ clash against Ross


    County on Sunday in Dingwall, where


    Celtic lost on their last visit.


    But goalkeeper Fraser Forster,


    defenders Emilio Izaguirre and Charlie


    Mulgrew and forwards Gary Hooper


    and Georgios Samaras will be missing


    after being handed an early holiday


    this week.


    Lennon is looking to keep his squad


    fresh for the Scottish Cup final


    against Hibernian on May 26, with


    another eye on their early start to


    next season with their opening


    Champions League qualifier


    scheduled for July 16 and 17.


    Lennon told the Celtic View: “Charlie,


    Sammy, Gary, Emilio and Fraser will


    all be getting a break as they won’t


    be getting an opportunity later on


    and we feel this is the best thing to


    do for them come the start of pre-




    “Of course Ross County will be a


    difficult game – they all are – but I


    have to think about going ahead,


    moving on.”


    Lennon, whose team are 12 points


    ahead of second-placed Motherwell


    with three matches left, added: “I


    have to think about the lack of rest


    they are going to get come the


    summer, so all these things come


    into our thinking.


    “It’s been a long hard season for the


    players and there will be another


    long, hard schedule for them next


    season, with the qualifiers coming


    round so early.


    “We are sacrificing a couple of games


    now with forward planning, one, for


    the cup final and, two, for close


    season and pre-season.


    “We are the champions and must not


    forget that. The league is done and




    “You don’t like losing games but we


    have to give the squad players an


    opportunity now that the main games


    are over.


    “I want to play some of them and give


    them some game time and rest the


    guys who have played a lot of games.


    “There are squad places up for grabs


    in the cup final and it’s healthy to


    have this competition.”

  14. mickbhoy1888 on




    16:28 on 1 May, 2013




    Excellent idea auld chap……. And may I borrow some straw from behind yer ears that you store yer totties in

  15. My Lord, but Kitalba has certainly livened up the blog, now maybe when I get a belt of his crozier I might not be too happy but for the moment I’m loving it. I am certainly prepared to make a donation towards operating expenses. If there was a small annual charge for being part of the blog would that not flush out the clowns with multiple log ins. In the meantime there should be a permanent box where people could just click put in their username and real name and their Visa/Laser details to make it easy to send a payment. Maybe that is already in place (I’m not the most computer literate of posters. A small Annual Charge every May, if you don’t pay your username gets suspended until you do. to quote Kojo “Makes sense to me”.

  16. I remember watching the Dysfunctional Sociopathic Bedwetters in the aul burns howf…

  17. mickbhoy1888 on




    16:43 on 1 May, 2013



    Aye the instant facial recognition software in the newsroom of the Daily Mail is a handy thing

  18. Hamiltontim on





    16:28 on



    1 May, 2013




    yer sisters waiting for you – take some new straw






    Honestly nearly wet myself reading that, brilliant!!!!

  19. Re Greeks and silk shirts. Not sure if Alexander’s army would have had access to the quantities of silk required. Silk not mentioned in Greek literature until post Roman period – doesn’t mean they didn’t have access to it though but it would have been very rare. On the other hand the oul Mongols definitely wore silk shirts under their armour. The main velocity / force of the arrow was dissipated penetrating the armour but was still able to penetrate skin. The strong fibres of the silk wrapped around the arrow head thus enabling easy removal from the wound. Not sure if it would have helped too against an English long bow!!




  20. Bhuns Share Price now quoted as 54.5 even though last trade was 56. Not sure I understand that to be honest but that is what the site says.

  21. corkcelt




    17:01 on 1 May, 2013




    Easiest way to pay a ‘wee’ subscription would be via Paypal. All very simple and one doesn’t have to disclose CC details, that is apart to Paypal.

  22. !!Bada Bing!! on

    BT-no point in risking a guy who has been carrying a knock recently,a matchwinner.Hope you on the mend.HH

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