How many times have we warned against internecine strife over the years? No one from outside a football club can really lay a glove on it, any real damage can only be done from the inside. Yesterday was Internecine Strife Day for one of the world’s biggest West of Scotland clubs.
Following on from Stewart Regan’s assertion to the media on Wednesday that an unnamed member of Rangers senior management did not properly disclose the damaging Employee Benefit Trust arrangements to the company’s directors, one of those directors, Dave King, has lodged a £20m claim against the club to compensate for the £20m he invested in shares in 2000.
There are so many acts in play at the moment it is difficult to know exactly what outcome King is hoping for here. The company is broke and at most will pay pennies in the pound to creditors, but Mr Regan’s assertion that some managers did not discharge their duties correctly opens up wide-ranging ramifications for those he referred to.
Regan excluded SFA president and former Rangers director, Campbell Ogilvie, from his allegations but it is unclear where his information came from. Concern is that it may have been directly from Ogilvie and that Regan spoke without an independent investigation being conducted. We hope that the SFA chief executive would not be so foolish as to attempt a cover-up of these matters.
Good corporate governance practices not only reassure the public, they protect chief executives from embarrassing resignations.
His silence on who conducted the inquiry that cleared Ogilvie and established that someone “higher up the chain” hid facts from Ogilvie, and perhaps King, is alarming. The SFA is not an old boys club, we need to know, did they properly investigate Ogilvie’s role or is something more sinister underway?
Who at the SFA knows about the inquiry which cleared Ogilvie? My previously-reliable sources at the Association were not aware the matter was investigated. It would also be good to know if the SFA board received the report that allowed Mr Regan to clear Mr Ogilvie. After all, the SFA are acutely aware of the dangers when important matters are kept “higher up the chain” from board members. What a sorry mess that would be.
I could cynically guess at these answers but after hearing Stewart Regan, it’s perhaps better to establish the facts first.
Let’s hope someone asks Mr Regan and he is able to clear the matter up. Better still, let’s hope someone keeps Fifa up to date with these developments and the ones we covered yesterday – don’t leave it to someone else, make sure they hear from you.
The Herald today listed charges including tax evasion, fraud, racketeering and money laundering against Dave King, but explains why he is crying foul play against the current, previous and potential future owner of Rangers.
In fairness to King, he has seen many obvious pitfalls in the Green proposition, perhaps a bit more internecine strife at the right times would have been better than blissful ignorance.
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Scrofula?
Pod
top 10
hail hail
Top 10?
Long live the King.
:))))
Think I need to get a life…
Tryingtobuyaboattosailoffintothesunrise(goingsoutheast).csc
Paul 67
shouldn’t that be “the worlds second biggest west of Scotland club”
Harthill – where East meets West, a sort of Constantinopopele
Glendalystonsils, second biggest, but not for long.
REPOST from last page (cheers Paul!)
With the Olympics just around the corner and the flame just about to hit town, I was wondering which events those involved in football (in Scotland) could partake in.
Here’s my starter –
High jump – anyone from Regan, Doncaster & Ogilvie
Weightlifting – Jabba
Marathon – Duff & Duffer
Rowing (up a creek, wan paddle) – TFPLG
Hammer throw – Ian Black
20k walk – the orc hordes
…..
I’m sure there’s plenty more :-)
HH
ps. I’ll read the article now Paul.
Lunch time
As anyone who has ever gone through training on the role of a company director knows –
If you knew and did nothing, why did you do nothing?
If you didn’t know, they why didn’t you know?
All directors are equally liable for the governance of a company. If you accept a structure where you don’t see all of the information that you need to carry out your role then you are not doing the job properly.
Sounds like c4’s AT should be lining up an interview with Regan. He is the only one that Regan cannot turn down or pan off with PR answers. No chance of the Scottish media pressing for answers – none at all.
Paul67
We don’t do walking away either…
HH
Paul67 –
Several good points there.
Could it be that both Ogilvie and Regan will have to go after further revelations for one of the journalists who are actually trying to get to the truth rather that pretending it’s business as usual?
Internecine.
A very good word Paul67.
And another great article.
BTW, was Dave King not a stand up comedian off the telly in the 50’s/60’s?
Could this be the same person?
(I know, I know, I’m older than I look!)
Barcabhoy
Remember the story that emerged that Whyte would only part with his shares if he had a presence on the new board and still retained a 60% interest in rangers.
Never did hear what happened to that demand.
Art of War on 8 June, 2012 at 12:45 said:
Going for the obvious
Fencing – SDM
play
Has Dave King exposed Green and Duff and Phelps?
In Charles Greens rant in response to Dave Kings statement , he did not address the point below
“In my view, based on previous discussions with Mr Whyte, it is unlikely in the extreme that he would sell “his” shares to Mr Green for a nominal sum (even if he hadn’t committed them to me) unless he was obtaining some benefit or retaining some control behind the scenes. Duff & Phelps non-communicative approach to stakeholders causes me further concern in that regard.”
Duff and Phelps didn’t respond either to what was an extremely serious charge made by King.
Just think about that for a second. Dave King stated that Whyte had either obtained benefit or retained some control behind the scenes.
Neither Green nor D&P denied that. Given that Whyte is banned for life from Scottish Football, and given the SFA have put the onus on D&P and Green to ensure that nobody is not fit and proper has an involvement , then you would have thought they would have blasted that accusation right out of the water.
Unless of course Dave King’s accusation was completely true. What implications would there be if King is correct.
Well King offered two scenarios.
Firstly he suggested Whyte might obtain some benefit. Given Green and D&P are on record as saying the shares will be acquired for £1 , then the benefit must be something that gives Whyte preferential treatment over other creditors. His floating charge has been valued at £zero by D&P therefore any benefit he gets would be as an unsecured creditor, which would mean HMRC would have yet another reason to reject the CVA
Or
Secondly, he suggested Whyte could retain some control behind the scenes. The implications of this would be fatal to the chances of a successful CVA or a yes vote for Newco.
So why didn’t Green and D&P come out and deny it outright. Given the significance, the conclusion to be drawn is that Dave King called it correct.
The heading of Kings press release was NO GREEN AND WHYTE AT IBROX. He didn’t say No Green OR Whyte at Ibrox. He is calling out Green and D&P and they are not rushing out a denial.
It’s an easy one to deny. In fact I will compose the press statement for them (no charge)
Charles Green and his consortium or any connected party will not make any payment in cash or kind to Craig Whyte other than the £1 offered for his entire shareholding in Rangers.
Further Craig Whyte nor any nominee or connected party have any influence or beneficial interest in Rangers after the sale of his shares
Jail the lotta them!!
One of the things I have enjoyed most in the last week has been the silence from Alistair. It’s been great to read the paper with the total absence of “to be honest …………..if I’m being 100% honest ……………….. honestly …………………….. it’s not as if I’ve come out of the trenches and been riddled with machine gun bullets ……………… we did it for our supporters ……………. dignity …… we don’t do walking away…. blah blah blubber etc”.
Let’s hope it’s a permanent break from the FPLG.
“A house divided against itself
cannot stand,”
Paul67,
What’s your take on the amendments to the CVA that where released yesterday and BDO nominated by HMRC as liquidators??
OLe Philbhoy-‘Dave King (23 June 1929 – 15 April 2002)was an English comedian, actor, and vocalist of popular songs.
Born David Kingshott in Twickenham, England, King left school at 12 and joined the Morton Fraser Harmonica Gang at 15. He did his National Service in the RAF and was in the unit’s repertory company, returning to variety on demob and later becoming a solo act. An appearance on Television Music Hall led to compering Show Case and being given a monthly series on the BBC in 1955. The next year he turned to singing while continuing to perform on television. In 1958 King moved to ITV with The Dave King Show which was song, dance and comedy with famous guests of the day.
King scored four hits on the UK Singles Chart in the middle of the 1950s. His biggest hits were “Memories Are Made of This” (#5, 1956) and “You Can’t Be True to Two” (#11, 1956), both of which featured a backing group called The Keynotes. He also charted with “Christmas and You” (#23, 1956) and “The Story of My Life” (#20, 1958)
In 1959, he went to the United States and hosted the country’s high profileKraft Music Hall on nineteen occasions, but otherwise had limited success despite Mel Brooks joining his regular writers Sid Green and Dick Hills. On returning to the United Kingdom, he found that the public’s taste in comedy had changed. Dave’s Kingdom ran on ITV in 1964, again made by ATV, but was less successful than King’s earlier television work.King became a straight actor with some success, appearing in a number of series like The Sweeney (episode: “Pay Off”, 1976), Hazell (1978), Pennies From Heaven (1978), The Professionals (episode: “Hijack”, 1980), Coronation Street (1994-95). Dave King also played corrupt policeman ‘Parky’ in the British gangster film, The Long Good Friday (1980).
He married a dancer, Jean Hart, and they had two daughters, Cheyenne and Kiowa. They lived in South Cerney in Gloucestershire. His hobbies included model railways and American folklore.
-lifted from Wiki /EWLM/EWTB.
HI MUM!
your = possessive.
example: “pay your taxes.”
you’re = shortened form of “you are” (notice how we replace the letter A in this with an apostrophe)
example: “you’re in trouble if you cant use apostrophes”
with apostrophes, you are looking to use one when something BELONGS TO SOMEONE(1) or when a letter has been taken out (2) and an apostrophe is put in its place.
examples
(1) tommy’s house. glenda’s ball. sally’s mum….
(2): you’re. it’s. can’t. haven’t….
if something ENDS in an “S” then you drop the last S and just use an apostrophe by itself, be it plural or whatever.
example: Jesus’ fish = fish that belongs to jesus.
if you cant remember all of this i suggest not using apostrophes at all, cos it looks better than just adding them in every time you use the letter S
Art of War on 8 June, 2012 at 12:45 said:
Diving… RFC(ia) players are all gold medalists
TheOriginalSadiesBhoy 12:51
lol!
The penny has even dropped for that muppet.
Perhaps Fat Sally should be asking who was ‘higher up the chain’? After all – to quote himself – ‘ Who are these people? The Rangers supporters, the general public deserve to know who these people are! They could be responsible for killing this club!’.
On the other hand, maybe NFL, DD or PL should be demanding to know why Ogilvie is still in a job.
playfusbal4dguilders & sixtaeseven: – Hand ball – Any R*nkers forward!
DBBIA
Thanks!
So it is him then!
ProphetOfRegret,
Well said.
Now can you do the difference between it’s and its, and then infer v imply.
Cheers!
ProphetOfRegret on 8 June, 2012 at 12:56 said:
How come you drop the captital J when the sentence is expanded?
;o)
Paul67 on 8 June, 2012 at 12:45 said:
Glendalystonsils, second biggest, but not for long
Ha! Ha! Ha!!
After today there will be 9 days left until the SPL fixture list is published.
NINE DAYS !
FIVE of these are working days.
What a week of high drama we are guaranteed as the forces of Darkness attempt in vain to include our stricken neighbours at the top table.
Sit back.
Take a few deep breaths.
Get ready for the finale of what has been The Greatest Show On Earth.
Paul 67
No offence, Oh Ghreat One.
But, i’m scunnered wi a this
hun-stuff.
I’m away to watch one of my
favourite movie’s
The Quiet Man :)))
Then check the box later for Sammi.
May God Bless Paul 67 and ‘Every’ CQNer.
Hail Hail
laters….
Art of War on 8 June, 2012 at 12:45 said:
REPOST from last page (cheers Paul!)
With the Olympics just around the corner and the flame just about to hit town, I was wondering which events those involved in football (in Scotland) could partake in.
Here’s my starter –
High jump – anyone from Regan, Doncaster & Ogilvie
Weightlifting – Jabba
——
Jabba a surely Summo wrestling!!
Lazy reading of the header sent me towards incineration.
Ironically that it may be the only way of removing this toxic club from God’s earth., then I see that HMRC are arranging a liquidator to assist in Duff and Duffer’s hard work.
Perhaps the assets on the southside will be scattered far and wide to never meet again
PhilBhoy -I expect it was.
Imagine callin’ your bairns Cheyenne and Kiowa.