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Expectations from QC report

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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. oglach

     

     

    17:11 on 1 May, 2013

     

     

    Have you read Conn iggulden’s books on the monogols?

     

    Although they are classed as fiction a lot is factual, which he explains in the epilogues of his books.

     

    And as you said the mongols wore silk under their armour for the purpose you explained.

     

    As for long bows!!!

  2. !!Bada Bing!!

     

    18:01 on

     

    1 May, 2013

     

     

    Doing their bit to sell season tickets to the deluded.

  3. !!Bada Bing!! on

    I wish we could source Hateley’s attempt at 10 rounds with the English language when he was on SSB a few years back.You could hear the other pundits in the background actually trying to finish his sentences for him.

     

    Fourcandlescsc

  4. unionbearBhind on

    Michael

     

     

    thanks for the heads up didn’t realise the LSE had this rule!

  5. !!Bada Bing!! on

    K33- I think wee Craigy Bhoy has sabotaged the huns ST sales brilliantly.

  6. Kilbowie Kelt on

    I wrongly thought last night that Kojo had followed the lead of SFTB & was about to take time-out of this blessed blog.

     

    I wecomed that decision.

     

    I should have known that this insensitive attention seeker was not capable of such a gesture.

     

    His inflated ego would not allow it.

     

     

    SFTB,… You are a man capable of realising your own understandable frustrations & dealing with them. God bless you.

     

     

    Kojo,…You know, & so does everybody else on this site, that you are a shameless fool.

  7. James Forrest is Neil Lennon! We are ALL Neil Lennon! on

    !!Bada Bing!!:

     

     

    Haha I remember that well. The man is an absurdity.

     

     

    This is the only country in the whole of the footballing world where ex players, ex officials, club executives, current players and vast tracts of the media can actually say, with straight faces, and apparent sincerity, that sporting integrity is less important than the health and well being of a single club.

     

     

    In every single article, the SPL is slammed as being a waste of time. These people are engaged in nothing less than continuous warfare against the top division in this country. They undermine it at every turn, and the press goes right along with it.

     

     

    Nothing would kill this game quicker than to give these people want they want. I suspect they are fully aware of that, but it doesn’t stop them.

     

     

    There was a great line on Game of Thrones the other night that applies beautifully to this situation.

     

     

    They would watch the rest of Scottish football burn if they could be king of the ashes.

     

     

    That’s who they are.

  8. !!Bada Bing!! on

    BBC Radio Shortbread 810mw covering Youth Cup Final live Celtic v Dunfermline,WGS Fav 11 coming up too.

  9. Paul67 et al

     

     

    UFO spotted over Glasgow.

     

     

    Jim Traynor off his tether?

  10. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    asonofdan

     

     

    18:02 on 1 May, 2013

     

     

    LOL…..!!!!

  11. danso_1888

     

     

    I honestly don’t have a clue as to why uefa are not taking any action.

     

     

    I have my suspicions, but that’s all they are. suspicions.

     

     

    If you look at who get jobs for life at uefa, maybes my suspicions are founded.

     

     

    The tenticals spread far and wide.

  12. Haven’t read back today, no time, but I wanted to comment on Phil Macs latest blog regarding those who wrecked seats at Firhill. He is 100% correct. We do not want or need that type of behaviour. I’ve done daft things as a young man and I grew up and stopped doing them.

     

     

    I hope these young men do the same thing. ‘Exuberant’ support and vandalism are two different things. Thuggishness is not a trait I associate with Celtic supporters but I’ve met thugs who claim to be supporters. We’ve been great at self policing in the past and I remember with great delight a couple of incidents in the 80’s when decent Celtic supporters chased the fledgling Celtic casual movement before they got a chance to establish themselves.

     

     

    I’m not suggesting the half wits at Firhill are the start of a hooligan group but they need to be given a message and then the opportunity to behave like real Celtic fans. Be loud, be passionate but through it all be decent.

     

     

    Middle aged man rant over.

  13. Barcelona:

     

     

    Have won their last 3 home CL knockout ties vs German sides by at least 4 goals (4-0 Bayern, 4-0 Stuttgart, 7-1 Leverkusen)

     

     

    JustSayinMind CSC

  14. James Forrest is Neil Lennon! We are ALL Neil Lennon! on

    THE EXILED TIM:

     

     

    Is there precedent, anywhere, for UEFA stepping in when a national association has not requested their assistance?

     

     

    Can they do it? Have they ever done it?

  15. Celtic Mac

     

     

     

    17:54 on 1 May, 2013

     

     

     

    Parkheadcumsalford

     

     

    Mark Hateley is so thick that even his ghost writer needs a ghost writer.

     

     

    Der Geist CSC

     

    ===========================================

     

     

    I am led to believe he does his own writing….. doesn’t believe in Ghosts you see.

  16. James Forrest is Neil Lennon! We are ALL Neil Lennon!

     

     

     

    18:17 on 1 May, 2013

     

     

     

    THE EXILED TIM:

     

     

    Is there precedent, anywhere, for UEFA stepping in when a national association has not requested their assistance?

     

     

    Can they do it? Have they ever done it?

     

    ========================================

     

    Not sure but they did request the Swiss FA deal with Sion before they did. I think,

  17. Kilbowie Kelt on

    The Boy Jinky

     

     

    18:15 on 1 May, 2013

     

     

    Kk

     

     

    Why waste your energy mate

     

    ____________________

     

     

    It requires less energy to swat a pest than it does to suffer its annoyance.

  18. James Forrest is Neil Lennon! We are ALL Neil Lennon!

     

     

    i would have thought if a national association was ignoring a fifa,uefa directive they would not

     

    need permission to step in.

  19. James Forrest is Neil Lennon! We are ALL Neil Lennon! on

    RobertTressell:

     

     

    Yeah I recall that. What would it take to involve them? Could one club request it?

     

     

    We look at the corruption at the top of FIFA and UEFA and it’s tempting to believe the culture of the associations is so rooted in scandal that they don’t even notice it any more. But there are issues here that go beyond football.

     

     

    It’s entirely possible that Sevconia is in violation of the law of the land.

     

     

    Surely that has to bring some kind of scrutiny?

  20. doc is neil lennon

     

     

    18:10 on 1 May, 2013

     

    GoogyBhoy, ex Blairs, yes, 1979-1980.

     

    Great times and memories.

     

    You?

     

    ……….

     

     

    Langbank 67-69

     

    Blairs 69-72

     

     

    Loved it especially the football.

  21. James Forrest is Neil Lennon! We are ALL Neil Lennon! on

    I’ll need to check that out mate.

     

     

    If there is a precedent at all, it must surely be a matter of time before they step up.

     

     

    What are they waiting for? Arrests?

  22. Re BT & Golf, Twas a team event 3 man Rumble two to count on each hole. We were 3rd out of eleven teams.

     

     

    Re Lhads asking where I got Sevco Share Price of 54.5, I just googled R*ngers Share Price about 4 sites popped up I clicked on one and it gave the price I quoted.

     

     

    Doc. Delighted to be Facebook Friends, I am not a prolific user but I’m sure we will share some stuff as we go on.

  23. James Forrest is Neil Lennon! We are ALL Neil Lennon! on

    Yeah that’s what worries me too mate ….

  24. With Sion I think it was an exception, as Uefa and Fifa are based in Switzerland the last thing they would want is Theit home countries Courts getting involved in Association Football.

     

     

    That could have been the thin edge of a very damaging wedge.

  25. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    Have sevco reduced their season book prices by £100 ……no, wait…..they cost aboot £100 this season……LOL ……seriously, though, have they announced their prices yet.?

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