Newco chairman, Dave King, this evening issued a remarkable statement. Not for the first time he referenced Celtic, but on this occasion, he became the first person inside the game to put the Stripping of Titles Rangers won during their EBT and DOS years on the table.
His statement also blankly contradicted an earlier statement he made, when he asserted, “I follow the logic of the argument that if we lose the tax case then we probably gained some competitive advantage.”
With the tax case lost, and many fair-minded agreeing with his earlier sentiment and calling for titles to be stripped, however, today King said:
“Whether the scheme was in place or not, or whether it survived tax scrutiny or not, made no difference whatsoever to the playing squad of the Club during that period and hence had no impact on the performance on the pitch.”
That’s:
“If we lose the tax case then we probably gained some competitive advantage.”
Followed by:
“Had no impact on the performance on the pitch.”
“Competitive advantage.”
“No impact on the performance.”
In 2012 he even issued an apology and suggested “commercial reparation to the other clubs” was in order.
“Reparation” because “if we lose the tax case” we “gained some competitive advantage”.
In five years he moved from saying Rangers gained a competitive advantage because of the illegal EBT use, and commercial reparations to other clubs was due, to denying any wrongdoing whatsoever.
He should also have read the Celtic statement more carefully. King today said Celtic, “have attempted to influence the footballing authorities to alter its historic football honours”.
Celtic’s statement called merely for a review, “We are sure now that the footballing authorities in Scotland will wish to review this matter. Celtic awaits the outcome of their review.”
The altering of football honours issue was not put on the table by our club – you can thank Dave King for that thought provoking notion.
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I had a fabulous time at the wedding. The bride was stunning and H.T. scrubbed up no bad, for once. :-)) It was lovely to catch up with members of Minx family, especially her Dad who really is a special person and clearly that has rubbed off on his daughter.
A special shout out also to Smashingmilkbottles who recognised me after many many years, as in about 30., Gerry it was a pleasure meeting you after all these years. Hopefully you enjoy a special day today with your daughter at her graduation party.
I managed to introduce myself to Celticrollercoster, a pleasure meeting you Marc.
Oldtim was pointed out to me, but I couldn’t get near him, there was always a big queue waiting for his autograph.
Hail Hail
Good Morning,
Dave King takes us back to the analytical days of RTC etc because I have no doubt that since his personal public statement yesterday he will find that his inbox is choked with messages from former colleagues suggesting that he should shut up completely and stressing that he does not speak for them.
The statement from King will be of utmost interest to BDO who are the liquidators of a company where he used to be a director and where the liquidators face a huge shortfall in being able to meet the claims of creditors.
Of course, the biggest of those creditors is HMRC and it will be they who have the biggest say in directing the conduct and direction of travel of the liquidators themselves.
Those same liquidators are duty bound to present a report on the liquidated company to the DTI and they are also bound to look into the conduct of the directors of the defunct club when assessing just why the company went bust.
In undertaking that task, the liquidators will look at whether or not the Directors properly fulfilled their duties as Directors and as laid down by The Companies Act 2006, The Insolvency Act 1986 and the Directors (disqualification) act 1986. These three pieces of legislation combined effectively set out what Directors are meant to do especially in the event of there being any danger of the company going bust.
Under such a circumstance, each and every director must take independent reasonable steps to ensure that the company is trading properly, is solvent, is properly making accurate declarations, is not deceiving either creditors or other bodies as to its true financial status or in any way misleading creditors etc in terms of their being able to trade properly.
The same acts also bring into play the tests for both Fraudulent trading and Wrongful Trading. Note that these two are different things but in either case, directors can be held personally liable if either fraudulent or wrongful trading is proven or established.
In such circumstances, the directors can be asked to sell their personal assets to raise funds to meet the companies liabilities.
Not only that, the duty expected of directors rises to a higher level if the director concerned has, or claims to have, any specialist knowledge such a law degree, is a qualified accountant, or even is an established financial adviser or is an experienced director in the financial sector.
Further, a director cannot escape personal liability by claiming that another director or person agreed to indemnify him or her in respect of any aspect of trading or in respect of any corporate conduct.
So against all that background, go and read King’s public statement again:
Note where he says that every single Rangers PLC Director knew that the company/club was spending beyond its means — but that SDM always said he would meet any shortfall. This is key because where a company appear to be insolvent, or there is even a threat of insolvency due to overspending or otherwise, then the director’s primary duty is to consider the interests of the company’s creditors!
Well blow me away and shiver me timbers if the likes of Paul Murray and various others will be shitting bricks at that one.
Also note that at the time of liquidation, and for may years before, SDM was not a registered Director of Rangers PLC and so he might just escape these set of duties unless, of course, BDO at some point suggest that he was a shadow director.
Whether they do or don’t is irrelevant for those who were directors within the 5 year period prior to Liquidation, as today they face the prospect of BDO knocking on their door and asking them what they thought about constantly trading insolvently?
That then begs the question, what did the same directors think about the fact that from 2005 onwards HMRC alleged that they had doctored their books and had repeatedly submitted fraudulent returns when it comes to PAYE and NIC.
That allegation is in writing and dates all the way back to PAYE and NIC returns from 2001 — and SDM was definitely a director at that time.
If King is to be believed then Murray constantly reassured the company that he would cover any losses. In the original men who sold the Jerseys BBC documentary, Alastair Johnson, the then chairman, almost said the same thing.
Yet it became clear that none of these people checked through the legality or otherwise of the EBT scheme or its administration, took independent legal advice upon that scheme, the solvency or risk of insolvency of the club or their own personal position regarding potential liability and potential breaches of Directors duties.
By the way, each and every director of every football club, whether a PLC or a private Ltd company, is subject to the same tests which explains why other directors and other clubs did not risk going down the EBT route.
Another consideration is the duties of a director when it comes to formally registering a conflict of interest.
Recently, Mark Daly interviewed Alastair Johnson re the sale to Whyte and Johnson stated clearly that Murray stated plainly that he stood to gain nothing from the sale of Rangers PLC yet bank evidence said the deal meant he could buy back aspects of his failed business at a discounted price.
So, if the only benefits in the EBT scheme were gained by Murray or MIH surely there will be a set of declared conflict of interest statements signed by Murray in amongst the company minutes?
Then again, perhaps there should be similar declarations from Campbell Ogilvie, John Greig, and various other RFC PLC employees who seem to have gained from an MIH scheme — according to King.
Over the course of years, I have had to take the red pen to any number of company press releases or newspaper articles which profile a company director or his/her activities because the planned PR piece may well have an effect on a contract under negotiation or because it may suggest a position in law which is detrimental.
That is why you have lawyers — to keep you out of the shit.
As far as I can see, King’s statement yesterday may well have stuck the entire Rangers PLC board deep into the industrial manure and I am sure that his comments will not have gone unnoticed by BDO, their legal advisers and HMRC.
TA BT
IS IT ON CELTIC TV??
JimmynotPaul
Good to catch up with you.
Yesterday, was simply beautiful. magical
HH
CRC
BRTH only if someone in Scotland is willing to pursue those directors. Do you really think that will happen? In Scotland?
BROGAN ROGAN TREVINO AND HOGAN on 8TH JULY 2017 11:58 AM
More fascinating info on the extent of the Ibrox shenanigans .
Thanks.
Chick Hun getting in about the huns on Shortbread shocker…
BRTH
Im reading an interesting article in the Scottish Historical Review (230 October 2011)
Its called ‘Four Hundred Years of Freemasonry in Scotland’
HH
NegAnon2 on 8th July 2017 12:06 pm
Yes, I do because Liquidators are under a statutory duty and note that the same liquidators successfully sued the Administrators for poor professional conduct.
Further, HMRC are determined to see this through.
In the very first CQN Magazine, I wrote an article based on an interview in London where a football finance man told me that in discussions with HMRC on behalf of Portsmouth FC, HMRC stated clearly that they were going to take a large football club and bring it to its knees as a lesson to all other football clubs and those who run them.
Murray and his colleagues, King, Paul Murray etc etc made such a colossal cock-up of the corporate responsibility that this is like shooting fish in a barrel.
Just read back Cowiebhoy – sad news buddy and thoughts with you and yours
YNWA
Cosgrove putting him right on the huns cheating, usual acting dumb when it comes to the cheating and rule breaking.
The corruption is institutionalised, has been from the year dot.
Its a pity those fine principals of justice we hear so much about, dont actually apply in Scotlandio.
Masonic judges and referees…coincidence, certainly not.
This is how farcical it is.
You wont get justice from masonic judges, in my opinion. But what do i know.
HH
Jude
Yes, plus premier sport as is Friday nights match
is the cqn magazine still going ?
Bada………
wee Chick….hunbeleivable.
I missed it , what was said?
St Stivs
Not to my knowledge.
Ban Craig Whyte, but ignore David Murray.
That should tell you all you need to know.
The biggest scam in football….nobody says a word to him.
Police, Judges, Journalists….Zilch
And even when DF gets him bang to rights in court…..its ignored.
The Scottish Legal System is bent beyond belief.
If that is not obvious, i dont know what is.
HH
TA BT
Even If my life depended on it, I could not get excited about a game of Wugby.
The game itself, is wrong and goes against the natural life laws of any sporting activity requiring a ball, team-mates an’ goals……But, it is the majority of supporters in Blighty who have blighted the “sport” in my eyes.
To be fair I spent far too long in London surrounded by Wugby Wuvin’, TVR drivin’, pint o’ Flowers quaffin’, chino-wearin’ yahoos so I am mentally scarred for life.
The only Lions I care about are those of Lisbon persuasion.
Haaaaaaaaaaaaaaaaaaaaaaaaaaarrrrrrrrrrrrrrrrumph! CSC
….an’ don’t get me startred on the so-called “Barmy Army”….. that’s a whole other ball game..
Folks,
Here is notice of a special event for golf lovers, cinema goers, and supporters of the British Heart Foundation.
During the course of the last couple of weeks, I have taken a wee hand in marrying up Thunderbird Film Distributors, The Odeon Cinema Group, The makers of Tommy’s Honours and the British Heart Foundation.
The result is that there will be a special charity showing of Tommy’s Honour at the Odeon at Glasgow Quay tomorrow night at 5:15pm with all the proceeds going to The British Heart Foundation.
If you don’t know the story behind Jason Connery’s movie, it follows the tension between Young Tom Morris and his father Old Tom Morris surrounding junior’s prowess at Golf and his decision to marry above his recognised class status. Both father and son won the Open in the early years and became famous in golf history.
There is a similar showing at the Wester Hailes Odeon at 7:15pm
The British Heart Foundation invests over £67 Million in Heart Research in Scotland every year because the level of research in this country is world leading. Sadly, some 1300 people die from heart disease in Scotland every month. They are of all ages, all backgrounds and all walks of life.
More women die from heart disease in Scotland than from any kind of cancer, yet thanks to BHF innovation (stents, pacemakers, etc etc) 70% of heart attack victims now survive a heart attack and go on to live full and active lives whereas in the 80’s only 30% of victims lived to tell the tale.
So, if you fancy a trip to the movies tomorrow night and want to support an amazing charity, get to the Quay at tea time.
We could make it a CQN night out.
http://www.odeon.co.uk/films/tommy_s_honour_charity_screening/101199/
Dave King thinks that Sevco’s overspending is sustainable? Eh?
That’s now the second time he’s trashed his clubs eligibility for a Euro licence – the first being during their last AGM where he said that they would need to spend more than they earned for the next few seasons.
Of course, they still got their licence and proceeded to get pumped out in the first round.
Surely Hearts would be thinking to themselves “even we could have beaten Progres!”. So why the fudge is Budge saying absolutely nothing? Are statements reserved for the aftermath of Celtic’s visits to Tynecastle? Hearts were cheated out of a licence and just take it…
Huns(Club1872) now warning SPFL that they will take court action if Celtic benefit from any punishment handed out.
Now…you can see clear as day how corrupt the law is in Scotland.
Where the perpetrators of a crime can threaten and get away with it.
The guilty are setting the narrative.
That is Scottish Justice for you.
HH
BANKIEBHOY1
Chinos I hear ye, scarred for life, also rugby tops or polos with the collar turned up, just nae excuse for that kind of reprehensible kind of behaviour:))
Londonyahoos.com
Mon the Hoops
My wife and I are celebrating our 40th wedding anniversary today. To the date and the day. We still have the hotel’s reception bill marked paid which Mrs B’s father gave us on our 30th anniversary. £99.00 for buffet meal for 30 plus spumante on entrance and for the toast. I reimbursed him with thanks. Tonight the two of us are gong to the local gastro pub and will probably each have prawn cocktail starters, fillet steak with peppercorn sauce, bottle of prosecco – which will come to just over £100. I’m glad we were luck to have worked in the civil service and each came out with pensions and lump sums based on 40 years service.
Starry Bhoy……………… :)
I’m a big fan of well-worn commodious chinos masel’….
………….(a comfortable sartorial choice for the Greater-Buttocked Scotsman)…. However……..it’s the public schoolboy, yachtie get-up that gets ma goat……the turned-up collar also favoured by the Cricket set……usually coupled with a loud braying accent….tips me over the edge.
Fulham Freddies Beware!
:(
FreedomForTooting CSC
Club 1872 has taken some time to consider the verdict in the ‘Big Tax Case’ (BTC) as we wanted to gauge the immediate reaction of sections of the media, Scottish football clubs, their supporters groups and the Scottish football authorities. That reaction has been, in the main, as hysterical, inaccurate and agenda driven as we expected. It appears there is still a desire in certain quarters for Scottish football to eat itself alive.
Contrary to the line taken by several dishonest media commentators, encouraged predominantly by Peter Lawwell and Celtic Football Club, this result does not mean that Rangers have “broken the law”, “acted illegally”, “cheated” or gained any sporting advantage through the historic use of EBT payments.
The Lord Nimmo Smith tribunal dealt comprehensively with this matter and, as the SFA has correctly reiterated, is final and binding.
Despite this, we remain concerned that the SPFL board may attempt to act on behalf of Celtic in this matter. It is our belief that a small number of other SPFL clubs, including Aberdeen and Dundee Utd, would like to see them do so. We are also aware that historically the SPFL lawyer, Rod McKenzie has taken an extremely hostile attitude towards Rangers Football Club which we do not believe is founded in his legal opinions.
Should it be the case that the SPFL do decide to act for the benefit of Celtic, then the clubs represented on that board should be aware that Club 1872, and we are sure Rangers Football Club and the wider Rangers support, will use every legal means necessary to challenge those who promote, support or facilitate such a course of action.
That will include, but not be limited to, mounting a legal challenge to the SPFL, boycotting publications whose journalists misreport the facts of the matter and demanding SPFL and SFA investigations into any and all dubious actions by those clubs over the period of the last 50 years.
The investigations we will demand specifically involve, but are not limited to, the actions of several boards, individual board members and employees of Celtic Football Club, across a variety of issues which have been in the public domain for many years but never properly addressed by the football authorities.
We will also demand that the football authorities open multiple investigations and examine in public, and in detail, all deals which allowed Scottish football clubs to write off their debts and the fit and proper status of all majority and joint owners of SPFL clubs. We will not be lectured on integrity, sporting or otherwise, by the clubs involved.
The last time there was an attempt to steal our titles, those involved operated in an environment where Rangers and the Rangers support were in a state of turmoil. The focus of our support was in removing various unsavoury characters from within our own club. That will not be the case this time and any clubs, club officials and commentators involved in any such dishonest and self-serving campaign will be met by wide-ranging, robust, legal and economic challenges at every step of the way.
It would be our preference for Scottish football to return to a more normalised condition where sporting endeavour on the pitch is the source of rivalry between clubs. If that is not the wish of the wider Scottish footballing community then they will find us to be extremely committed opponents nonetheless.
54 and counting.
RON BACARDI
Congratulations on the amazing milestone.
I got married the day before my in-laws 40th wedding anniversary and I presented them with a bottle of port from 1977 (ruby and all that). It was quite an expensive gift but…emm…let’s just say my father-in-law had to fork out a bit more than £99 for our wedding…
I’ll just tell him that adjusted for inflation the cost was just about right…
Have a great day!!
BANKIEBHOY1
Earlsfield Tongs ya bass:))
HH
THETIMREAPER on 8TH JULY 2017 1:30 PM,
IMBECILES.
’54 and counting’…aw,bless them. ;)))
Club 1872
You let your club die, you let your club die, you stood back and let your club die:)))
The lower the bar of intelligent discourse at every possible turn:))
THETIMREAPER
Their statement:
Bluster, skewed logic, lies, anger, impotent rage…………pretty much their usual mantra.
46th coming up on the 10th. My parents married on the 3rd July, 40 years earlier. It was a first wedding Mass for the priest at theirs and ours was his last.
STARRY PLOUGH & BANKIEBHOY
On weeks like this I miss living in South West London when I could stroll up to Wimbledon Village and soak up the SW19 atmosphere.
On the other hand, on weeks like this I don’t miss living in South West London when I could stroll up to Wimbledon Village to be surrounded by Tim Nice But Dims in red / salmon chinos…
Starry……
My first gaff was in Earlsfield…(Vanderbilt Road)…stayed with a mate of my brothers, before moving upto a wee place in Queens Club Gardens ( Chino an’ Deck Shoes Grand Central ffs)
sma’ world.
They do what they like.
Let us cheat or else.
That’s Scotland for you.
David O’……..yes, the Hunting Pink Conquistadors……………
Imaginary Twat Hammer was my constant and faithful companion, only retired it when we moved out to Ealing, The Paradise Of London Town….
DAVIDOPOULOS
I lived for a while in Garrett Lane South West London with a big mad Tim from Coatbridge, on our first foray to the local pubs we came upon a reasonable sized group of Chelsea over the pool table where my mate in a stage whisper type voice said ” alright lads ye support the Hoops Up the Ra'”
It didn’t go down well:)) And we ended up fleeing for our lives along Garret lane direction Tooting:))
After several such episodes I decided South West London was not for me, back to Finsbury Park and the relative sanity of Islington, Cali Road, Holloway and the likes.
HH