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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Roy Croppie
Yes, astonishing, and shame on the spineless msm. And to think the same cowards never missed a trick when trying to stitch up Fergus.
Their coverage of chief sinner and protagonist in the scandal, David Murray, is like reporting on WW2 without mentioning Adolf Hitler.
Tontine Tim
I wish we had !
Good Evening.
The High Court in Edinburgh has seen many a famous – or should that be infamous – criminal stand in the dock.
There have been murderers, thieves, rapists and all sorts of other ne’er do wells who have all had to stand and answer to the charges levelled against them and enter their plea at this preliminary stage.
Most, like today’s protaganists, plead not guilty at the outset and behind the scenes they and their legal team scamper around in preparation for the trial that is to come.
In the intervening period, witness statements will be taken, documents examined and poured over, consultations with counsel will be arranged, and some hard questions will be asked of the accused by their own team in preparation for the ineviatble day that will bring about ……… showtime!
For the crown, they too will have their legal team working like fury, trying to guess the angles to be taken by the defence ( in this case every single accused may have a different angle ) and making sure that each single step that takes their case along the “fraud” path on each charge is covered and double covered.
Fraud and Fraudulent practice. There are few (if any) more difficult things to prove in a court because if one single strand or step gets knocked out or overlooked then the whole case collapses like a set of cards or a pile of dominoes.
Defence teams like fraud charges as no matter what the evidence may be they are in with a chance.
Then again, conspiracy charges – where it is alleged that a group of you acted together with one purpose – aye well that is a slightly different story because if one canary sings – whether the song is one that exculpates him and damns the others or is just a song that makes it plain that he was never the lead party and was just led along the path to damnation by a cunning co-accused – hey well there the table turns and the prosecution can benefit by standing back and waiting to see if any of the accused don’t fancy the heat. In such circumstances one accused – sometimes two – decide they would like a cooler existence in the future and so send a message to the fiscal – “would you like to hear a song?”.
Who knows what will happen in this case but I will bet you this.
None of the professionals will be feeling very comfortable right now.
In this game, it will be every man for themselves and to hell with teamwork.
That oul Rangers mantra ” I was duped” – ” I never knew” _ “I was misled” will be at the fore I guess.
There is only one thing for certain and that is that not a single person with any interest in Scottish Football can say with any certainty that there will be a “Rangers” of any sort in future and that includes the current incorporation.
Not the SFA, Not the TV People, Not the SPFL, Not the Daily Record and Not the Nine O’Clock News.
Nobody.
No bail out plan can be considered with certainty, no future plan can be drawn up with credibility. No promises can reasonably be made to investors, shareholders, creditors or employees.
In business terms there is only one way to describe such a scenario – Mess – Toxic Mess.
It will be this way for years to come no matter what happens on the park.
The only way to introduce certainty would be to shut down, move on and start again somewhere else.
Anyone who tells you different is a fool. Anyone who basis a future business plan depending on there being a Rangers is a complete fool.
And all the while, one Imran Ahmed says “Thanks, but no thanks” and is long gone like the seldom seen kid!
One wonders why?
On a separate note, I am raising money for the homeless by sleeping out in November.
If anyone can spare a few quid the that would be great as there are plenty of homeless to go around.
Unlike some, they are to be seen far to often. Like many others, now and in the future – they have no home to go to. It can happen to anyone given the wrong circumstances.
https://mydonate.bt.com/fundraisers/jamesmcginley1
Ross Co. get the goal their play deserves..
Sheep Sheared…
1-0 the Staggies
County score :-)
Goal Ross County
I wonder if Ash Taylor will score…be the first time this week.
topoftheleaguetomorrowCSC
That Staggies goal was fully deserved from the few minutes I have watched the game. I noticed a bigUnion Jack with Aberdeen on it. Is that common among their fans?
JJ
Don’t think McInnes needs to worry about snubbing Ladbrokes for the October manager of the month award
Bobby Murdoch, we are probably the same age and we both have enjoyed our teams ups and endured the downers over the last forty years.
The highs of the 76/77 season and the downer of the following season , both still linger in our thoughts. The above seasons are my favourite and most annoying . We have had better and worse seasons but those two are when my emotional attachment to our team really was engrained in me.
Further to your post about the Michael Conroy / humphy backed Miller incident. I think it was in the 3 3 draw at Celtic Park in 1981. I’ve had a wee search in the Celtic wiki and Celtic Underground’s St Anthony has the match report in it along with some photos from the game. Unfortunately, none of Michael connecting with Miller. Maybe if you contact him via Celtic Underground , he may have access to more photos from that game.
Celtic Underground also did a podcast with Michael last year.
Miller’s reaction was almost as comical as his attempted tackle on Steve Ritchie in the 78 cup final.
Any news on Broony ( if the Union jack question was too difficult 0:-) ) ?
JJ
http://i1357.photobucket.com/albums/q753/munrofillipi/Celtic%20and%20others/mcavenniehuns88_zps6a735624.jpg
yesssssssssssssssssssssssss
HH
Aberdeen were Evens with William Hill…..they are now 6/1 !
JJ
http://img87.imageshack.us/img87/7052/celticpark1984.jpg
Paradise
HH
http://img541.imageshack.us/img541/9339/103407413.jpg
Boxing Day 1976 at Celtic Park…the telly was rubbish.
HH
Gerry, how are you?
Sleekit is a wee putrid jobby, a man not to be trusted .
Sleekit looks after himself first .
Tomorrow will be tough , Fir Park is a place we don’t often play that well at, as well as McDermid, the Tulloch and New Douglas Park.
Dingus McGhee will have his team up for the game particularly Lasley who will be even more ‘enthusiastic’ if Broonie doesn’t play.
http://img163.imageshack.us/img163/8982/m8zp08.jpg
Takes me back…
HH
roy crappie
Happy days that fotie, I couldnae wait to get out of the house most Boxing Days:))
You know if Marcus Fraser and Jackson Irvine had not already played for us, I think they would be getting touted for being picked up as cheap buys. Tremendous engines on both boys.
Dang my spell check, sorry mate:))
Big Riddy I’m rarely in on a Friday night:))
Looking at Phil’s tweets today
I’m convinced he is clumpany
why would he. No back him
justanopinionimightbewrong.com
Our erstwhile hero Mr Craigie wealth of the radar Whyte looked relaxed and confident with his tape recordings.
Bobby Russell, if you are about, I’m sorry I haven’t replied to your post at 0.06 last night.
You putting as drunk by Davie Dodds below the Carlsberg Elephant beer advert was a touch of class.
The next few times I was in Dukes , your words were still there, for a fortnight at least.
It still made us laugh.
Thank you.
Ross County look a good team. Impressed by Boyce – was he with Dundee before?
Aberdeen are getting found out.
Dallas
Everything ok on this front, enjoyed last weekend but think I am getting too old for that “going into the town” nonsense, home at a very reasonable time so was in the good books with both bosses, also got the doggers card marked on Sunday so all good, really looking forward to the morra, we might mump and moan about the hoops but we would be lost without them, you know I only dip in and out of the blog but enjoyed you and Bobby reminiscing about the likes of Mike Conroy, Davie Dodds and whatever else, it’s good stuff
There used to be a CQN Friday night quiz. Had my questions re the Union jack and Broony constituted a revival of said quiz, you have all failed miserably! Back to the Staggies game now.
JJ
https://youtu.be/B0xHWIw_dPk
Craig levein on rangers
get prepared folks
7pens in 9 games in the. Championship! !!!!
2-0 Ross county
2 nil :-)
Scotland’s manager of the year and the champions elect 2-0 down, mustn’t titter:)))
Mullet
He has been a Cliftonville boy all his days
Love
BROGAN ROGAN TREVINO AND HOGAN SUPPORTS OSCAR KNOX, MACKENZIE FURNISS AND ANYONE ELSE WHO FIGHTS NEUROBLASTOMA on 16TH OCTOBER 2015 8:21 PM
…There is only one thing for certain and that is that not a single person with any interest in Scottish Football can say with any certainty that there will be a “Rangers” of any sort in future and that includes the current incorporation…
I do not bother much with what will happen with the reincarnation since they died. I did previously make the point that I would never be satisfied until a Third Lanark scenario materialised.. Your knowledgeable insight and the above paragraph gives me something to cling on to. However, having experience of investigating fraud I know how complex it can be, no more so than securing a conviction no matter how strong a case is presented. For that reason, my experience, I expect they will not be found guilty.
Keep the Faith!
Hail Hail!
Roy, re that photo from the Boxing Day game in 1976 .
The crowd was given as about 46000 but my pals and I, and others as well, thought the crowd was above 50000. Those turnstile operators must have let a lot of lift overs and doubling up , get into the match.
Sheep clearly unsettled by vicious rumours surrounding their manager.
Is it Ross county 2 :-)
Dallas, just logged in. Even the huns that drank in Dukes found it funny.
JJ The new Friday night quiz is name our back four for tomorrow ?