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Great Football Swindle reaches court

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By on CQN BLOG & Comments

So the day has come. Several of the alleged conspirators in the Great Football Swindle have arrived at the High Court in Edinburgh to face their charges.

It will be four years next week since I first asserted that Rangers would be liquidated, with all of the consequences that would entail. For the last two years I’ve tried to stay away from the subject and to concentrate on the matters which brought us together in the first place, but this issue deserves coverage.

In 2012 the illegal Discounted Options Scheme and Employee Benefit Trusts (only some of which are still subject to appeal) put HMRC in a position to demand payment, and subsequently reject administrators’ attempts to agree a CVA.  Thank you, Sir David.

Charles Green must be a great poker player. He raised enough seed capital to buy the rights to pay £5.5 for Rangers assets in liquidation. From that moment, we thought one of two things would happen:

Green would pull Newco together and within a few years things would look like the old days.

Or, Green would be undermined by those he out-manoeuvred, leading to a likely insolvency for Newco.

There were suggestions early on that Green and Whyte were acting in concert, but, as someone with more experience than I have on matters like this pointed out to me, to be convicted for this type of crime you need to take a billboard advert out explaining your misdemeanours, it’s so difficult to prosecute. Or you need to be very stupid and fall out with your co-conspirators.

Stupidity is alive and well.

Green’s claim for legal fees against RIFC will have a profound impact on the club’s finances within weeks, but the bigger issue at hand is what happens at the outcome of the various criminal charges relating to the disposal and acquisition of the assets of Rangers Football Club, now in liquidation.

If it is proven that the assets were acquired criminally, the transaction is likely to be struck down, meaning the club currently trading as Rangers would lose ownership of whatever assets they have, including stadium and the name “Rangers”, irrespective of who actually controls those assets.

I’ve discussed this matter with many well-informed people and no one actually knows how it will play out, or what the consequences of guilty verdicts would be. The only thing that is known for sure is that outcomes are currently indeterminate, cannot be planned for, and contingencies cannot be made.

The club itself has to get on with business as best it can until whatever happens, happens, but no one should believe that a Duff and Phelps-type liquidation-bounce is normal, or remotely possible again. Assets could be hamstrung for years and left derelict.

Back in 2012 I said the only way forward with any certainty is to start with a clean sheet. Find a tiny club on the brink (there are enough of them), change their name, give them blue shirts, ask St Mirren or Partick Thistle to ground-share, and build your way up the leagues. Let the courts take their course and bid for the assets you want when the dust settles.

But that’s not going to happen. It would require more strategic thinking than is possible right now.  My guess is they’re finished.  Finished.

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  2. jamesgang on

    DELANEYS DUNKY on 16TH OCTOBER 2015 9:27 PM

     

    Dallas

     

     

    Marcus phoned me this morning to tell me that Celtic would be top of the league tomorrow night. The 10 Tims in the Ross County squad plus the Fenian fae the Rock manager would do their bit tonight.

     

     

    ———–

     

    So the Ross County strip streches to accommodate the huge Fenian heart.

     

     

    Jim Mc is a pal of our own hutchybhoy who speaks really highly of him and has done long before His RC (Ross County btw!!!) appointment.

     

     

    HH jamesgang

  7. Gerryfaethebrig on

    BGX 11.11

     

     

    I agree but don’t know what Neil would have gained from this, he is the perceived bad guy anyway, it’s gone, what’s done is done……

     

     

    By the way do you know that Frantic67 character he was telling me stories about you last Saturday

  10. ruggygman on

    If it was up to me :

     

     

     

    ——————- C.Gordon——————-

     

     

    Lustig. Boyata. Blackett. Izzy.

     

     

    ————–Brown. Bitton ————–

     

     

    —Forrest. Commons. Armstrong—

     

     

    —————Griffiths——————-

     

     

     

    Johansen replacing Commons after 65mins, with Commons already scored.

     

    Jancko replacing Lustig after 72mins.

     

     

    Hoops to win 3-1.

     

     

    Yaldi !

  12. GuyFawkesaforeverhero on

    Paul67

     

     

    Ok, have your laugh. Celtic fans like me are mugs to you. Chuckles has been a decent employer to my close relative for four years now.

     

     

    We’re of different generations. You’re not a Celt to me.

  13. The Spirit of Arthur Lee on

    ruggygman

     

     

    Brown is out

     

     

    But even ten men should be able to beat the mothers

     

     

    Love

  16. Gordon64 on

    Sfrb I would argue that our second eleven in 72/3 was as good if not better than our current first eleven.

  18. ruggygman on

    Is he definitely out ?

     

     

    Well if fit, I’d play Johansen in his place.

     

     

    Don’t get me wrong, Johansen having a poor season, regardless of whether played in attacking or defensive role.

     

     

    But he’s a Norwegian international playing in defensive midfield, so with that alone, he gets my vote. As I don’t think we have anyone else remotely qualified to partner Bitton.

     

    Armstrong at a push.

  19. Delaneys Dunky on

    RC

     

     

    Lucky Man is one of my favorite ever songs. I am a born lucky man. I was born a Tim.

  21. jamesgang on

    Gerryfaethebrig

     

     

    You spoke of your nephew wondering if we’d ever beat them.

     

     

    Tommy Burn’s almost season broke my heart. For Tommy, for Celtic, for me……in that order.

     

     

    I used to be haunted by the ‘skoooosh’ noise that prefaced a Sky replay cos it always seemed to feature laudrup scoring the winner after we’d had all the play.

     

     

    I’ve loved being a Dad in a near Hun free football environment. We don’t have the desperate need to win. But the bigotry and cheating ….. I don’t miss that.

     

     

    Interesting how much the wee mhan has absolute disdain for the sevco inc without me consciously drumming it into him.

     

     

    HH jamesgang

  22. ruggygman on

    I know Ronny doesn’t deviate from 4-2-3-1….

     

     

    But with Brown missing, a 4-1-4-1. Is definitely a shout…

     

     

    ———————-C.Gordon———————

     

     

    Lustig. Boyata. Blackett. Izzy

     

     

    ——————–Bitton———————-

     

     

    Forrest. Commons. Johansen. Armstrong

     

     

    ——————Griffiths——————-

     

     

    Makes sense tae me..

  24. Dallas Dallas where the heck is Dallas on

    Setting free the bears, possibly Peter Mackie and Jimmy Quinn between Denis Connachan and Jackie senior

  27. setting free the bears for Res. 12 & Oscar Knox on

    Roy Croppie

     

     

    I got Frank Welsh (he was a school mate). Did not get Kenny McCool or remember him- wondering if that is Brian McLaughlin (RIP) in the back row.

     

     

    Gordon 64

     

    “Sftb I would argue that our second eleven in 72/3 was as good if not better than our current first eleven.”

     

     

    We had a golden generation between the mid 60s and mid 70s so it is a fair comment but it is impossible to compare across generations. The past 10 years have seen a fitter and faster game emerge, sometimes with less room and,certainly, less time for flair. Paddy McCourt was a joy to watch because he was a 60s throwback but he is still being a bit part player with an English League Two outfit and Norn Ireland- shame but true.

  30. petec on

    setting free the bears for Res. 12 & Oscar Knox on 16th October 2015 10:46 pm

     

     

    Our biggest problem in team selection tomorrow, especially if Scott Brown is missing, is choosing the 2 in our 4:2:3:1 selection.

     

     

     

     

     

     

    Neither Bitton or Brown are true defensive midfielders and with Charlie missing we lack another CB who can play there. I know some have touted Efe but the main characteristic of a defensive midfielder is that they prioritize ball winning and retention; Efe can do the former but not the latter. Johansen has played there but, he won his POTY award on the strength of robbing players in the final third and contributing assists and goals, he did not stand out as a defensive mid for either Celtic or Norway.

     

     

     

     

     

     

    All other centre mids (Rogic, Allan, Commons) are creative ball players, slip passers and dribblers, there is not a Lambert or Lennon among them, far less a Wanyama. With an inexperienced back 4, the two that play in front Bitton and AN other (probably Johansen or Rogic) will not offer much protection to Boyata and Ambrose, though Stuart Armstrong might be a better experiment as he is a cleaner tackler and safer passer than Johansen.

     

     

     

     

     

     

    We may have no alternative but to just go for it and try to outscore them tomorrow.

     

     

     

     

     

     

    I expect to see

     

     

     

     

     

     

    Gordon

     

     

     

     

     

     

    Lustig (or Janko)

     

     

     

     

    Boyata

     

     

     

     

    Ambrose

     

     

     

     

    Izzaguire

     

     

     

     

     

     

    Bitton

     

     

     

     

    Johansen (or Rogic)

     

     

     

     

     

     

    GMS (or Armstrong)

     

     

     

     

    Commons

     

     

     

     

    Forrest

     

     

     

     

     

     

    Griff

     

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

     

     

    I am one of those that is championing Efe getting a go at that CDM position, I take on board what you are saying but Nothing ventured nothing gained?

     

     

    Everyone knows Efe isn’t a CH but he plays that position very well, for the most part, I also dinnae see a Real Deal fitba player like Efe being a RB, although he Always does his best there.

     

     

    I will be disappointed if Efe isn’t given a go at one of those CDM positions tomorrow, because the guy oozes Class. Let the Brilliant Efe Flourish for Gods sake. ;)

  31. Dallas Dallas where the heck is Dallas on

    Just saw the Ross County goals, terrible defending by the Dons and good finishing by Brian Graham.

  32. Delaneys Dunky on

    James

     

     

    Two of my nephews play for RC.

     

    Great wee club for Glasgow Tims to play for.

     

    Run by a Dumbarton fenian in Dingwall.

  34. BGX on

    Gerryfaethebrig….Cool mate…

     

     

    FRANTIC67….Was ma Pal at St Augustines in Milton back then, Loved The Guy To Bits..

     

     

     

    Say Hi From me…

     

     

    Keep me laughing allday long…

     

    Fantastic Guy Bless…

  42. Gerryfaethebrig on

    Jamesgang

     

     

    It was around that time, my two Celtic daft nephews have never had Celtic rammed down their throats one had a father who had no interest in football (not much interest in him either) the others father was one of my older brothers who although a Celtic fan wasn’t too fussed, hopefully they get their Celticness from me, funnily enough both have Gerqrd as their confirmation names, I never force Celtic but at a very young age they see me jumping about like an eijit and for me Celtic is pretty infectious, wee Miss GFTB doesn’t like football, but when we are playing during the week before she goes to bed at 8pm she goes and gets her lucky toy so “we” score, ther is never a need to force them to follow the hoops our joy is what they will follow……by the way when Miss GFTB gets up the next day she asks “did we win ” when I hear it the result is secondary

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