At the first hint Rangers illegally ‘won’ league titles, members of the board who made all the controversial decisions called-in all media favours to paint a picture of an innocent mistake being made. Innocent mistakes are occasionally made when registering players, and have been known to cost clubs up to 25% of their annual income in fines, but Lord Nimmo Smith’s Commission will have to consider whether or not, on these many occasions, mistakes were innocent.
Former Rangers chairman, Alastair Johnston, without a hint of remorse, insisted that Rangers failure to properly register players under his tenure was no more than an oversight or administrative error, repeatedly insisting that EBTs had been disclosed to the club’s auditors and recorded in published accounts.
As everyone, apart from those Mr Johnston was happy to give interviews knows, there is nothing illegal with EBTs, nor are they incompatible with proper player registrations. The key issue is whether side-letters existed and whether the club’s auditors and HMRC were treated with honesty and candour.
This is from the First Tier Tribunal decision:
“The Respondents submit that ‘the auditors had not seen the side letters, otherwise they would have been a matter of specific comment’ (para 124.3 of written submissions). It is not clear whether the auditors had actual sight of a side-letter when they made the reference to ‘the text contained within letters sent to individuals outlining their award’.
“For the year ended 30 June 2004, the auditors reported in KIM [Key Issues Memorandum] that Mr Purple had waived his right to his 10% transfer fee, and that a loan of £500,000 to Mr Purple from the Remuneration Trust was ‘unrelated from the contractual amount he would have been due’ (21/15/13).
“It would appear, from the evidence heard on Mr Purple’s termination payment, which is narrated in more detail under the section on ‘Termination Payments’ in my findings of fact, that the auditors had been told an untruth on both scores, regarding the waiver of the right, and the loan being unrelated to the contractual payment on transfer.
“The auditors were also told that the paperwork for Mr Purple was ‘mislaid’, (and therefore was not available for the auditors to inspect).
“Over the use of the remuneration trust, the auditors seemed to have been treated by the Appellants [Rangers] with the same lack of candour as accorded to HMRC. The auditors did not seem to be privy to any (or much) of the documentation, and had not formed a view on the scheme other than relied on what they had been told by the management.”
We will have more on the fiduciary duties of Mr Ogilvie, Mr Bain and Mr McClelland, each of whom were directors of Rangers as well as the SFA or SPL, as well as those of Mr Johnston, in due course. They had fiduciary responsibility to Rangers shareholders, and in the case of Mr McClelland and Mr Bain, to SPL shareholders. This responsibility extended to ensuring information material to the operation of the company was disclosed to auditors and authorities, when required. As for Mr Black (sic), we’ll deal with him another day.
As a part-owner of one SPL shareholder (Celtic PLC), this question has particular resonance.
We are busy pulling the next issue of CQN Magazine together. If you would like to write an article, or take out some advertising , get in touch, article@cqnmagazine.co.uk.
[calameo code=000390171980e8545b80a lang=en page=10 hidelinks=1 width=100% height=500]
393 Comments- Pages:
- «
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- »
So the govt ‘bedroom tax’ will be imposed on foster families because those in their care are not considered family. I’ve also just found out my friend’s brother will be slapped with it despite the fact he needs a live-in carer.
Remind me again why independence is a bad idea, because I’m starting to lose focus.
TwoMacaroons 13:53 on 27 February, 2013
“If the verdict goes against them, and fingers crossed it will, will they have the right of appeal?”
Chuckles and co will not be able to appeal as this has nowt to do with Sevco.
Their ‘loyal’ lunatic fringe, so loyal they switched allegiance to another football club, will probably make a lot of noises about it though – providing justice is carried out.
I’d trust that if the LNS decision confirms what we all suspect that celtic would seek redress for loss of earnings P67?
tomorrow should be the day when a decade of cheating is exposed. sadly, I see nothing but a typically scottish fudge coming.
IMO I think they will bet off lightly,it will be constructed so teams cannot sue the governing bodies who overseen their entry to play domestically but mainly in European Football.A huge can of financial worms.
twomacaroons
13:53 on
27 February, 2013
If the verdict goes against them, and fingers crossed it will, will they have the right of appeal? I remember reading most of the Italian clubs appealed and eventually got lesser penalties than originally punished. This will run on for a bit yet I reckon, no matter what happens.
I believe they can appeal to the brethren at the sfa!!!
Kilbowie Kelt – A podium race with no Philvis is like a Rangers’ season with no cheating.
Even Homer may nod. (thumbsup)
ArranmoreBhoyLXV11 – I wasn’t even able to get away with throwing a game of “Hungry Hungry Hippos” to my 9 year old niece. She trounces me at the Wii as well. (thumbsup)
Gene’s a Bhoys name – If Philvis was involved, PMQ’s would involve more thumbs up and high fiving. (thumbsup)
lionroars67 – Tomorrow at 1pm we go to war
Don’t they have jobs to go to?
Every sponsor will be targeted, every backer as part of this Kangaroo court.
I bet that will have blue-chip sponsors and investors lining up to give their money to Sevco. (thumbsup)
weeminger – Remind me again why independence is a bad idea, because I’m starting to lose focus.
What the SNP is proposing isn’t independence. (thumbsup)
paul 67, having seen so far how this has went via goverment, hmrc, sfa, spl,sfa,lord hodge via duff and phelps then how the so called administration proceeded,then being allowed to play in blue wear same badge having rangers in its name claiming history
minus debt, and assets being sold for way under its value, the carry on with the multi coloured knights which was just a sham, it was to make it out they were doing their best,
the plan always was liquidation to clear debts, they new they would be allowed to phoenix
and lets not beat around with this they are a phoenixed club any other business would be
hammered by hmrc for what they are doing, thats how you know this has been been a whole charade from the start.
bankienhoy1
I bet it will be a fine no one can pay and bans for X number of years from the two cups.
It isn’t just titles, there are cups which should be withdrawn – I seriously doubt they will touch their raison d’etre – title supremacy. It is all they have over Celtic and to remove them will destroy them and we know what will happen to civil society if they touch them.
Cups might seem more acceptable and that will be the compromise if we even get that far.
I think they are guilty as sin and LNS can come to no other conclusion than GUILTY as charged.
The problem for me comes after that when it gets passed to
C OGILVE & co to administer punishment.
Will they give them what they deserve I DOUBT IT(see past behaviour by SFA).
My question is if they get a slap on the wrist, will our club accept that and say well thats it over time to move on?
philvisreturns – 14:03 on 27 February, 2013
Fair enough but it’s getting to the point where detaching ourselves from Westminster might outweigh the negatives. You must accept that policies would never have got started in this country if our parliament was fully devolved.
“Policies like that” is what I meant.
TwoMacaroons @ 13 53 .
” most of the Italian Clubs appealed ”
Indeed —- the Italian Legal system is big on Appeals [ and Appeals and Appeals ]
It took the Italian legal system a long time to jail the numb nut Catania Ultra who had been found guilty of murdering a policeman by shooting him in the head with a nail gun during a riot after a Catania / Palermo derby . He was found guilty and appealed [ given house arrest pending appeal ] That appeal was denied so he appealed to a higher level [ given house arrest during that appeal ] He was finally definitively sentenced to imprisonment but his single parent Mama appealed that they couldn’t jail him because there was no one else but him to look after her . That appeal saw him being given yet more house arrest before a Court decided that Mama didn’t have any rights in the matter..
The Italian legal system is a hoot.
weeminger we could start by holding elections for the judiciary, to replace the behind closed doors process we have now. And for the prosecutors.
It takes a vote from both Houses at Westminster to remove a judge. It happens about once every one hundred year s or so.
http://www.equaltimes.org/news/despite-world-cup-pledges-building-site-accidents-soar-in-qatar
Can I Have Raspberry On That Champions League Ice Cream
13:58 on
27 February, 2013
Floridaghirl
You get my earlier message?
Yes I did – will await your text – just let me know what time you will be there and I will make sure that I am there at the same time…
weeminger – If the SNP gets its way Scotland will find itself in a far more constrictive fiscal straitjacket than the one currently chafing the Westminster government, which will inevitably translate into unpopular cuts and tax rises.
For a country that doesn’t control its own currency or interest rates, inherits a huge burden of debt, and which is politically subservient to the EU and thus bound to EU rules on tax, the CAP, tariffs, welfare benefits to EU migrants, etc. is not independent at all.
It’s easier for them to say “it would never rain in an ‘independent’ Scotland” though. (thumbsup)
Latest from the SFA/SPL.
They’re all going to be away from the office tomorrow, so they have have asked LNS to postpone the announcement for a day – to February 29th.
Unfortunately, they realise that the next February 29th is in 2016, so they’re quite happy to wait until then.
Surely any punishment cannot include banning from cups over which the SPL (Whose investigation this is) have no jurisdiction.
How about this for the ultimate fudge of a (non) punishment. . .
rangers get big fine they cannot pay and sevco banned from entering the SPL for the next two seasons.
weeminger
email me details ;he should be excempt as he requires a carer to sleep in the spare room….
S o T. Wow :-)
Steinreignedsupreme. Aye they only want to be The Rangers when its not costing them money. Any fines then they’ll be sevco.
I just hope the LNS findings are honest and clear.
Personally I would settle for the statement from LNS and SFA that ” the club is dead and no longer exists in any way shape or form”.
lionsroar67@12.47
I think it is called Quid Pro Quo
In old money!
No twisted or contorted or compromise judgement will alter the fact that we will waken up on Saturday morning and in the mirror see a Celtic Bhoy or Ghirl staring back.
They’ll always try to wipe the smile off our latterly smug coupons. But then they’ll unfailingly give us something else to renew the big cheesy grins.
conzaloni,
whats worse they are allowing them to to be what they want to be one minute they are rangers
next they are new co all to suit their agenda at the time, riding two horses and being
allowed.
Ntassoolla – No twisted or contorted or compromise judgement will alter the fact that we will waken up on Saturday morning and in the mirror see a Celtic Bhoy or Ghirl staring back.
I hope I don’t see a ghirl. I tried living as a woman once, but the periods were driving me mental. (thumbsup)
Snake Plissken @ 14:04,
As it is an SPL inquiry, aren’t the findings and punishments limited to the SPL.
I seem to remember when it was initially announced that the would only look back to the inaugrual SPL season.
My prediction, two year ban from the SPL, starting with immediate effect:-)
Hail! Hail!
philvisreturns @14:36 you might get lucky on Friday night.
Hamiltontim…13:46 on 27 February, 2013
So what happens if LNS imposes neither sanctions nor punishments???
IMO………..Nothing…………. Other than some personal disenchantment with the whole shooting match!
We will carry on as previous……..
Justification for that/my statement………
Well that’s just what happened when the/they/them/their cheating/lying/thieving club avoided (deserved) extinction some twelve months or so ago……… Plus ça change…….
Hope you are well……….
Regards & Hail Hail
TBM
Criticism of the administration process must also be included, if this had been correct then this whole scenario would not be on the agenda this week.
As Richard Nixon once said “There can be no whitewash at the Big House!”
Ntassoolla – To be Philvis is luck enough for any one mhan. I lack only a life-sized chocolate replica of myself. (thumbsup)
Auldhied,
If anyone has the appetite to try and bring some proper competition back to the game then salary capping has to be the way to go.
In saying that, it will be important that cap calculations for individual teams cannot be grossly inflated by things such as dodgy gratuitous sponsorship deals – i.e. what revenue is inlcuded and excluded from the calculation will determine hugely what effect it might have in really restoring a more level playing field.
At 11:55 tomorrow morning they should get Chuckles and ask him, live on TV, whether they are rangers with history and debts or sevco without…
TBM
A hectic time but I’m well, I hope you are too my friend.
Wee begging-bowl occasion here,folks.
This one is for another excellent cause-apart from Wee Oscar,it gets more of my cash than any other good cause.
Click on the link,please.
The wife of one of our members is running a half-marathon-me,I’d rather put my hand in my pocket than put in the effort,so good luck to her…
~~~~~~~~~~~~~~ ~~~~~~~~~~~~ ~~~~~~~~~~
neilybhoy 18:34
on
24 February, 2013
BMCUW
my wife is running the Bath half marathon, just wanted to share her just giving page with all of you generous people!
http://www.justgiving.com/Katy-Stevenson1
cheers
~~~~~~~~~~~ ~~~~~~~~~~~ ~~~~~~~~~~
Neilybhoy,I just coughed for the price of a round for the five of us that last place we were in a few weeks ago-twice what it was a mere fifty yards away,and it was my shout,ya bassa!
Helluva bother just to avoid making the dinner,mind
Green has also suggested that the SPL no longer has jurisdiction over Rangers because they are now playing in the Scottish Football League after being denied entry to the top flight.
However, Lord Nimmo Smith said: “To take the hypothetical example of a club which has been engaged in match-fixing in the last game of the season but is then relegated and consequently ceases to be a member of the SPL, there is every reason why it should still be liable to disciplinary action at the instance of the SPL – whether or not the breach comes to light before or after that club has relinquished its SPL membership.
“We can think of many similar hypothetical examples.
“Oldco appears to us to be in no different a position.”
http://www.bbc.co.uk/sport/0/football/19685344
Has the new kit deal been announced Challs?