After 11 months of innuendo and unanswered questions the Sun today publish confirmation that Charles Green was a frontman for Craig Whyte. The news will be a bombshell to many but few in the Celtic online community will be surprised.
The Sun today report that Craig Whyte and partner, Aiden Earley, are majority shareholders in Sevco 5088 Ltd, the company which bought Ibrox, Murray Park and other assets from Rangers’ administrators’ Duff and Phelps.
They also claim Charles Green subsequently transferred Sevco 5088’s assets into Sevco Scotland Ltd, which Whyte said was done without his permission. Green was given considerable opportunity to respond to the claims but despite pages of comment does not deny the central claim that Whyte and Earley were majority shareholders in the company which purchased assets from Duff and Phelps. The rest of the story amounts to little more than gratuitous detail.
Where does this leave things?
Whyte’s QC has started legal action, seeking control of Ibrox and other assets.
Duff and Phelps (presumably unknowingly) discretely sold Rangers assets to the man who appointed them and who is currently subject to an investigation into the collapse of the club. Rangers’ liquidators, BDO, can cancel the sale of assets and claim them for creditors if they believe it was not conducted in an appropriate manner – and this is anything but appropriate.
When Sevco 5088 Ltd was negotiating with the SFA Green assured the SFA that Whyte was not part of his consortium. This was a condition of the Newco being granted associate membership. The SFA are now duty bound to investigate (although with president Campbell Ogilvie in place make no assumptions here).
What has any of this to do with St Mirren, you may ask?
St Mirren chairman, Stewart Gilmour, appears to have made a pact with Charles Green, who I hear has given Green his assurance that he will vote against league reconstruction plans, which the SPL are due to vote on 15 April.
Questions like who owns Ibrox, whether the Newco is a legitimate associate membership of the SFA, whether BDO will declare the sale to Sevco 5088 void, in the event this circus makes it to next season, whether anyone will buy tickets to the shambles, all remain unanswered….
…but Stewart Gilmour is making plans with Charles Green. St Mirren fans should be outraged. Mr Gilmour should be careful who he does deals with.[calameo code=0003901714557cf2d2048 lang=en page=134 hidelinks=1 width=100% height=500]
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Aiden scores 25. Oor mhan oot. Away tae watch the footie.
Weefra HH
RT. ” The death of them” I like the sound of that.
Karma!
RT
It’s maybe an age thing, but I still cannae get me hied roon this. Please don’t comment on that. :))
Weefra HH
Let me put it another way, ARE THEY DIED YET? The sooner the better.
Weefra HH
If you are in any doubt about attending tomorrow this why we are doing it .
@celticservant
FoCus group chapping doors of Celtic supporters tonight. Looking to keep folk off the streets tomorrow.
Aiden wins mastermind -good man
Aiden won it.
Weefra HH
saltires
At least he sounds like a Tim. Larkhall switch off. Lol
Weefra HH
0-0 inv vs st j. Just switched over.
Weefra HH
State of the nation FIFA style. Play the World Cup here and leave the place with more debt than ever – really is the people’s game…..
http://m.youtube.com/watch?v=g3N6O6PT1_s
Hopefully going to watch the Mighty Glasgow CELTIC win the sphell trophy tomorrow. Woooohooo.
Weefra HH
Now don’t get me wrong, I’m enjoying today as much as any Celtic supporter (by the bye, Mr Keevins, I am not lying when I say I DO NOT WANT TO EVER HAVE TO PLAY THAT DEID TEAM AGAIN). But I want to ask the more knowledgable on here how Whyte could hope to buy them from the Administrators. Surely, that itself was totally illegal?
Where is Ticketus in all this? I’m sure they haven’t gone away.
Please let them die once again and forever asap. Their disgusting charades shame Scotland.
Been watching bits of Mastermind. Haven’t been a fan since Humphrys took over and i started to get lots of questions right which suggests a bit of dumbing down
Scored the same as our man his specialist subject and one less on general knowledge. I got 14 on last guy’s questions and he only got 9. Still think Uni Challenge is better.
Predictions for tomorrow? I’ll say 3-1 us.
Jimbo?
parkheadcumsalford
Surely there are at least one legal eagle on here who can opine on this. Me, I have not a clue on law.
Weefra HH
Parkheadcumsalford
20:32 on
5 April, 2013
I’m with you mate, that season we played them 7 times was enough for me. It got worse every game I attended, when we reached the 0-0 last game I thought “thank god that’s over”
Weefra
you might be right- his specialist subject in an earlier round was life of Michael Collins ;-)
Jimbo67
You are either drunk or a big head,or have a big head with the drink,own up you google the questions.HH.
Paul67 et al
Also on this day;
Publication of the report by the Parliamentary Commission on the Bank of Scotland crash, titled “An Accident waiting to happen”. Or what Jill Treanor described in the Guardian as “The Bank that would not say No”, (to David Murray). Or if you prefer, the announcement that Murray International Holdings lost a shade under £100 million in the year to June 2012. (Need to find out what the £65 million “special charge” is all about). Rangers FC? Collateral damage!
Parkheadcumsalford
Not illegal. he hasnt been charged with breaching the laws of the land or of trading fraudulently.
A director forming a new company to purchase old company from the administrators is not unusual unless he is doing it for fraudulent gain.
Its how Whyte and his ilk make a living.
Was Whytes gameplan from the get go.
Was it the reverend green what done it, with the dagger, in the big hoose?
quiz night can I resist or will Mrs Prestonpans let me play, now stop it I’m talking about the quiz……….
JudgeordersreportonDuff& PhelpsRangersrole
22 June 2012 Last updated at 20:37
David Whitehouse and Paul Clark were appointed as joint administrators
Rangers administrators Duff and Phelps have been ordered to prove there is no conflict of interest over their role.
The move, ordered by Lord Hodge at the Court of Session in Edinburgh, comes after a recent BBC documentary raised concerns about the issue.
Lord Hodge said he took no view about the BBC programme.
But he said Duff and Phelps should produce a report showing they had obtained and acted on legal advice on the question of conflict of interest.
Rangers was forced into administration by HM Revenue and Customs (HMRC) on 14 February over non-payment of tax totalling about £14m.
Rangers liquidated
Craig Whyte, who bought the club from Sir David Murray last year, was successful in having his nominated firm, Duff and Phelps, appointed.
Following a hearing at the Court of Session, presided over by Lord Hodge, David Whitehouse and Paul Clark were appointed as joint administrators of the club.
They have since negotiated a sale of the club’s assets to a consortium led by Charles Green for £5.5m after creditors rejected an agreement which would have seen Rangers repay pennies in the pound for estimated debts of about £134m.
The old company is now set to be wound up by HMRC’s preferred liquidators BDO.
Mr Green has since formed a new club and is attempting to get access to the Scottish Premier League.
Last month, BBC Scotland broadcast the documentary -Rangers: The Men Who Sold The Jerseys.
The programme raised questions over a possible conflict of interest for Rangers’ administrators.
Allegations denied
David Grier, a senior partner from Duff and Phelps, had said he was unaware until August 2011 that London finance firm Ticketus had helped fund Mr Whyte’s purchase of the club.
The BBC programme broadcast emails which appeared to show that he knew a deal was under way in April, before Mr Whyte’s takeover was complete.
Mr Grier has denied knowing that Ticketus were funding the purchase, and his PR team has claimed he was only aware of a much smaller arrangement of around £5m with the finance firm to fund a working capital shortfall.
He said “the false allegations made by the BBC” were now in the hands of Duff and Phelps solicitors.
Duff and Phelps issued a further statement after Lord Hodge’s ruling.
David Whitehouse, joint administrator, said: “We welcome the decision by Lord Hodge today.
“Producing this report for Lord Hodge will give us an opportunity to demonstrate that the allegation of conflict of interest by the BBC was wrong and grossly irresponsible.
“We have a well-established conflict checking procedure which was fully adhered to and there was no reason for us not to accept the role as administrators.
“Since the BBC documentary we have met Mr Roger Isaacs who appeared on the programme and was asked for his professional opinion as a forensic accountant.
“Mr Isaacs informed us that he was not shown relevant documentation by the BBC and now, having reviewed the documentation, has told us that he is satisfied that our firm did not have knowledge of Ticketus funding being used to acquire Rangers in 2011, prior to the transaction being completed.”
BBC response
BBC Scotland has said it stands by the claims made in its programme.
In a letter seen by the BBC from Roger Isaacs to Duff and Phelps following a meeting between the two parties, Mr Isaacs states: “At the meeting you made various representations and offered to send me further documents to support them.
“I have now had a chance to consider these and you should please be aware that I have not been persuaded that Duff and Phelps had no knowledge of the Ticketus deal to fund the purchase of the bank debt.”
Mr Isaacs adds: “My view remains, on the basis of the information I have, that Duff and Phelps appear not to have been able to fulfil the necessary requirements of independence to allow them to act as administrators”
The issue over any possible conflict of interest was raised by Lord Hodge at a hearing about the administration process on Friday.
‘Public interest’
The judge said he took no view about what the BBC had said, but wanted to know whether Duff and Phelps had obtained and acted on legal advice on the question of conflict of interest.
Lord Hodge said he had done nothing until now because he did not want to hinder the process of Rangers seeking a creditors voluntary agreement (CVA).
But, he told the accountants’ lawyers: “There is considerable public interest in this jurisdiction in relation to the administration.”
Lord Hodge added: “I do not want the administration to come to an end without having received that report.”
The report demanded by Lord Hodge is expected to be ready in three weeks and a further court hearing is likely to be arranged after that.
HH
easy on the eye
easy on the ear
http://youtu.be/1SCOimBo5tg
HH
Fanandpatriot
I am sober(ish) . Fantastic at quizzes when no pressure. Didn’t win when I went on a much lower brow TV quiz . Head varies I’m size!
HH
Jimbo
LordHodgeapprovesliquidation offormerRangersFC
31 October 2012 Last updated at 20:41
Rangers was forced into administration over unpaid tax bills
A judge has approved a motion for the former Rangers Football Club to be handed over to liquidators.
Duff and Phelps took over running of the club when it entered administration on 14 February over unpaid tax bills.
Earlier this month, the administrators said the club’s creditors had approved an end to the administration.
At the Court of Session in Edinburgh, Lord Hodge approved a Duff and Phelps motion to hand over what remains of the old club to liquidators BDO.
Moves to end the administration were held up by a last-minute challenge from Collyer Bristow, former lawyers to Craig Whyte.
The law firm, which is also one of the creditors of the old Rangers, is being sued for about £25m damages by Duff and Phelps over its role in Mr Whyte’s takeover of the club last year.
Ticketus deal
The administrators are seeking to retrieve money, alleging conspiracy and breach of undertakings.
The hearing at the Court of Session on Wednesday went into detail about the administration process.
Lord Hodge said he was “very concerned” that allegations were being aired which called into question the integrity of proceedings during the Rangers administration.
The judge said he was aware of an investigation by the Insolvency Practioners Association, the administrators governing body.
Lord Hodge said there was sense in the IPA producing a report which he could then review. He added: “I am taking no view on these allegations one way or the other.”
In June, Lord Hodge asked for a report into BBC allegations that Duff and Phelps had a conflict of interest, as one partner of the firm knew about the controversial Ticketus deal to use advance sales of season tickets to pay off the club’s debt to Lloyds bank.
More evidence that Duff and Phelps was aware of the funding deal at an early stage was broadcast by BBC Scotland last week,including excerpts of a secretly-recorded conversation.
‘Objectives achieved’
Lord Hodge said on Wednesday: “I have asked the BBC to provide me with a DVD of their allegations in May and October and may be requesting them to give a transcript of the entire telephone conversation so that I can see it in context.
“I may have to make a court order and if I do, I will give the BBC a chance to be represented.
“There may be a good answer to these allegations, but allegations are being ventilated which call into question the probity of proceedings.”
It also emerged during the court hearing that the administrators have £1.7m in cash.
Following the case, Paul Clark, joint administrator of Rangers, said: “As administrators, our primary function was to keep the business going and effect a sale of the club in order that it could continue, while maximizing the return for the creditors.
“These objectives were achieved. It will now fall to the liquidators to realise any further potential funds that may go to creditors. We have worked closely with the liquidators over the last few months to ensure an orderly transition.”
In size even
Latest re tomorrow.
http://www.celtictrust.net/?func=d_home_article&id=410
The only site I use regularly ( Mrs Burghbhoy would say too regularly)
Is CQN.
I decided a short while ago to bite the bullet and go on a fact finding mission on Rankers media.
My goodness , maybe I’m spoilt on here with all our eloquent posters , but the thing that shocked me ( in an SFA/Lenny way ) was the language used.
I thank Paul 67 and our posters for keeping it clean.
Sevconians really are horrible in every way.
Fess19
15:40 on
5 April, 2013
Jakarta man from govan………….
I know who you are sunshine……
HH KTF and Give all my best……
Has Freemasonry ever set foot on the shenanigans of the deid club? Na canny believe it.
prestonpans bhoys
20:49 on
5 April, 2013
There will be a 10 min break tonight..plenty of time for Mrs prestonpans bhoys :-)
HH
CRC
For obvious reasons (out if country)I will not be at FAC demo tomorrow.
To those who are going take care on your way to CP afterwards as there appears to be a lack of official cooperation.
FAC statement re Rally
Published on Friday 5th April, 2013 by Celtic Trust
Following the events in and around Gallowgate on 16th March 2013there was a meeting of FAC on Monday 18th March to plan and organise a response to the unprovoked and disproportionate Police action against Celtic fans on that day.
It was decided to hold a static demonstration/Rally in George Square, during which speakers would highlight these events and the problems arising from the police use of the Offensive Behaviour at Football/Threatening Communications legislation. We were advised that citizens have the right of assembly in George Square which is deemed as a public park for this purpose. However, to foster good relations, a decision was made to apply to the City Council for permission to hold this event which was then publicised.
There was further discussion around the fact that the majority of those attending the Rally would be making their way to Celtic Park for the match that afternoon. Mindful of the attacks on our fans by the police, which was one of the reasons for the Rally, we lodged an application with the City Council asking for permission to hold an organised march from the Square to Celtic Park, allowing fans to move to the ground in an orderly manner, free from police interference. This application was lodged on 21/3/13 and in it we acknowledged that we could not give the required 28 days’ notice but we were aware that this had been waived for previous events. We gave a number of reasons as to why we believed that an exception could be made. At no time did we publicise this application as we awaited the Council’s decision.
On 27th March at very short notice we were asked to attend a meeting with Council officials and senior police officers to discuss our applications. At this meeting we were told that the Council would facilitate the rally in the Square but that they were still considering the application for the march from the Square to Celtic Park. Despite these reservations the logistics of such a mass movement were discussed and some agreement reached. We responded to every request including the requirement to provide 250 stewards with high viz vests. We made a number of MSPs and Councillors aware of the meeting and what had been discussed so that they could assist.
On the same day officials from one of the member organisations of FAC had a meeting with other police officers, namely CC Corrigan, Supt Wayne Mawson, and ACC Bernard Higgins of Strathclyde Police who assured them that the police would be happy to agree to a public procession from George Square to Celtic Park. On Thursday at 4.30 we received a phonecall saying the Council was not convinced of the merits of our argument regarding the 28 day notice and therefore the procession could not take place. They asked us to come to a meeting on Tuesday 2nd April but we were unable to organise this in time.
On Tuesday 2nd April at 4.30pm the Principal Officer from the City Council called again to say that though we would not be granted permission to march to Celtic Park, we would actually be ‘facilitated along the carriageway’ by the Police. He asked if FAC organisers would attend a meeting the next morning at 10am. Despite the short notice once again we agreed to do so.
Besides Council and FAC personnel this meeting was also attended by Supt Brian McInulty and Chief Inspector Porte of the Police Service of Scotland. It quickly became apparent that the assurance given the previous evening by the Principal Officer had subsequently been withdrawn and that the police were not prepared to facilitate the movement of supporters from the Square to Celtic Park. We were handed a letter stating that we had not met the requirement to waive the 28 day notice. Specifically, the letter said ‘Having considered your procession notification and consulted with the Chief Constable, the Council is of the view that there are no exceptional circumstances in this case which would persuade it that a waiver of the minimum 28 day notification period is necessary.’
We asked which Chief Constable this was, and were told it was Campbell Corrigan who had, by that time, retired. The Police then began to talk about using our stewards to facilitate dispersal in small numbers and we pointed out that our stewards would not be stewards once the Rally ended. FAC’s aim had been to organise the rally for which we had achieved agreement and we had been refused permission for a march to Celtic Park. On that basis, we pointed out that we had very responsibly made a sensible suggestion to ensure the safety of everyone and that since they had rejected this proposal it was really their responsibility. We questioned them about the change in the position between Tuesday night and Wednesday morning but we were not given a straight answer. We felt that we had nothing to contribute at this point and we left the meeting and asked them to contact us when they had come to an agreement on what they were going to do.
Since Wednesday despite the great effort of MSPs and Councillors we have received the following information
• The Council officers are saying that they cannot change their position; but that they understood that the Police could still ‘facilitate’ movement ‘along the carriageway’
• The police indicated on two separate occasions that as there had been an application and that it had been refused and this meant they would be ‘duty bound’ to intervene. The Council are now saying that they did not ‘refuse’ the application but that they were unable to ‘progress’ it because it didn’t meet the criteria for the exemption from giving 28 days’ notice.
•ACC Bernard Higgins was then consulted to see if this interpretation made a difference and he came back and said no.
•The police are suggesting that they are not going to arrest anyone during the demo but they may speak to the organisers of the rally and anyone else they can identify the following week should an unlawful procession takes place.
Given the depth of feeling which exists, following the events of 16th March, FAC have been careful not to do anything which could be seen to inflame the situation and hope to manage the situation on the day. However we understand that the Police Service of Scotland did issue a statement on this issue, which was posted on their website; was subsequently removed and has now reappeared.
This statement is being issued in response to that very inflammatory move by the Police Service of Scotland.
http://www.celtictrust.net/?func=d_home_article&id=410
Two more additions for George Square tomorrow.
Both myself and Big Swee look forward to meeting up with everyone at the
Gallery of Modern Art at 11.45am.
Hi folks, a couple of wee questions- where is the CQN meet tomorrow- and is there any point in a Freedom of Information request to the PF / Polis or Scottish office on the ratio of arrests to convictions this FOCUS group have- broken down by club- my guess is that with another epic fail today (their second go at that young man) they are at least 0 from 7 with our support- a real waste of tax payers money as far as I can see
Burghbhoy
20:55 on
5 April, 2013
Yip, I used to do that as well and on FF was shocked. It was like joining a tourettes society outing….
So still trying to digest this Sevco fiasco and make sense of this murky affair ! CW appoints his own preferred administrator D&F who run up another 4.4 million of debt during admin ! D&F reject better offers for Huns and at last min up pops saviour chuckles who is also appointed by CW to look after his affairs as he can’t as deemed as an unfit person by The SFA .CW dumps the debt knowing that the creditors would get nothing and he would get assets for a nice price and move to start up as a Newco debt free ! Opportunist Green gets greedy and shafts whyte using the complicit media to demonise
Celtic1- you must be psychic
Evening Bhoys & Ghirls
Welcome to the Friday night quiz. Counting back this will be 3 weeks in a row. You are being spoiled!
Anyway, everybody welcome to join in and to score your post must appear with the correct answers before mine. No googling either.
Round 1 follows. Good Luck
HH
CRC