Quantcast

King, the other Big House, contingency planning

256

Proceedings against Dave King for Contempt of Court begin on Friday at the Court of Session.  In March, King was ordered to offer £11m for shares not already owned by his concert party, no later than 26 April.  Nearly three months later, that instruction has not been complied with.

Well in advance of the Court decision to force King to comply with the Takeover Panel instruction to offer to buy non-concert party shares, King would have been advised what requirements he would need to comply with, if he lost.  Prudent contingency planning would have averted this Contempt hearing.  But you know King.  He sat on the Rangers board which made no contingency plans to allow it to continue to trading through HMRC’s case against the club.  The consequences of that were so severe it went into liquidation BEFORE it lost the case!!

Indeed, before starting a takeover bid for Newco, King would have been well advised to have the money in place to underwrite the project.  Remember, he once suggested a £50m would be needed, this is ‘only’ £11m.  If he cannot lodge this £11m he has no chance of making good money to build the team.

During the takeover Panel’s case against King last year, King’s QC told the court “Any order wouldn’t secure compliance”.  Quite an insightful prediction.

If found guilty, these proceedings could see King reside for a while in Glasgow’s other ‘Big House’.  Even if that happens, it will be a mere blip on the ‘journey’, prepare to read that is is a ‘favourable settlement’.  The question to keep your eye on, is who will pay the bills after the season ticket money runs out?  Never mind, there will be orange strips, reduced ticket allocation to Celtic, angry statements about the SPFL and SFA, so they must be good guys.

Click Here for Comments >
Share.

About Author

256 Comments
  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7

  1. Totally off subject,but I have just finished watching series 1 and 2 of Goliath.

     

    Billy Bob Thornton as an Alcoholic Lawyer.Brilliant.

     

    IMHO that is.

  2. Starry Plough Re Timbhoy2 a chip on the shoulder indicates wood further up. H H Hebcelt

  3. Hello Spearman on 17th July 2018 2:06 pm

     

    Saw you asking the other day.

     

    Don’t know the answer to your question but the demographic on this forum is not suited to give you the answer, I think ;)

  4. !!Bada Bing!! on

    A pal who has a lot of sponsorship at St Mirren,just told me McGinn deal nearly done,St Mirren get 33% of any sell on for him……..

  5. I am thinking about booking Jury’s Inn in City centre – any views on it bhoys?

  6. Sorry,but for me,Liam Henderson falls into the good player,just not good enough for us category.He would have Rogic ,Ntcham,Calmac,probably,Mc Ginn,Biton still the best passer of a ball on our books,Eboue,all ahead of him.Christie and Allen struggling to get game time.hE would just be another.Too many Celtic managers have thought the same.

     

    Good luck to the boy.

  7. Bad a,

     

    That 33% I am sure is the big stumbling block.TAkes some wedge away from Hibs.

  8. Scullybhoy agree with Turkeybhoy good hotel good location good bars nearby. H H Hebcelt

  9. nottaclue1 on 17th July 2018 2:47 pm

     

     

    Your second reply seems to have proved your first reply wrong :-)

     

     

    Thanks, will have a look.

  10. Belter on Scum Media.

     

     

    Herrera has been sent out on loan to Mexico.Huns picking up most of his wages.

     

    So Pena and Herrera who cost nearly 6 million,and who are now lounging around in Mexico,picking up loads of “Blue pounds”.

     

     

    Most responses from the unwashed,deluded,bigots,

     

     

    GOOD.

  11. TURKEYBHOY on 17TH JULY 2018 2:16 PM

     

    Timbhoy 2,

     

     

    As I said earlier,you have a strop on.Why,I have no idea,so pointless me continuing with you.

     

     

    *Coz he’s a hun

  12. Turkeybhoy.

     

    Agree with you re. How well the club is run by thw Board. I can never understand the critics’ views on here.

     

    This season is looking very positive with improvements already on current players. McGregor is turning out to be some player.

     

     

    Ajer is a concern playing on left as he has no left foot. He would be more productive on right.

     

    KTF

     

    Cathach

  13. weebobbycollins on

    Turkeybhoy @ 2.29…have you ever seen a plane take off with Jabba on board?

     

    Easy Jet becomes Creaky Jet… :-)

  14. weebobbycollins on

    Btw…what’s a Play Station? Sounds like something from a Hornby train-set…

  15. mike in toronto on

    Cathach

     

     

    Not a dig, but since you say you cant understand why some (I would be one of them) question the Board, I will throw out a few thoughts…

     

     

    We know that the club lost, what 40 million pounds in CL/TV revenue, and 10 titles due to the use of EBT’s… whether we like it or not, it happened on the Board’s watch.

     

     

    How the Board seem to acquiesce on the whole Shame Game thing, and didn’t seem to publicly support NFL (at least, not sufficiently for me)

     

     

    Little or nothing appears to have been done about it, or the cheating, by our Board in 7 years (apart from 2 letters). To the degree that some small measures have been taken, it seems to have been only as a result of the work done by the 4 gents from CQN)

     

     

    The Board’s almost Trumpian refusal to keep fans informed about these issues.

     

     

    The Club’s apparent disclosure of personal information to the Police (which, arguably, was not required by law)

     

     

    Hamfisted dealings with the GB

     

     

    One of the worst TV deals in Europe (which the SSM helped to negotiate).

     

     

    Is any of that incorrect?

     

     

    If not, how does this make our Board so successful/why should it be immune from criticism?

     

     

    On the footballing sides, somethings have gone well (7 in a row… BR has been a spectacular success domestically, some good transfer dealings, buidling a good young team, a balance sheet in the black – although with 60,000 fans every second week paying ….), but some things have not gone so well (RD was a disaster …. European hammerings…… )

     

     

    For me, it is about seeing the good and the bad…. praise where it is due, but criticism where it is due, and always questioning … only way you know whether some is due praise or criticism is to try to be as informed as possible…

     

     

    But happy to be challenged/corrected… I’m not too old to learn new things.

  16. hebcelt on 17th July 2018 2:59 pm

     

     

    Scullybhoy agree with Turkeybhoy good hotel good location good bars nearby. H H Hebcelt

     

    >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

     

     

    Thank you.

     

     

    Hail Hail

  17. weebobbycollins on

    MIT…”I’m not too old to learn new things.”

     

    Do you know what a Play Station is?

  18. mike in toronto on

    WBC … ha!

     

     

    I am too old for that! Even as a youngster, I was a complete numpty when it came to any sort of technology … (my assistant has been with me for 20 years… I could not do what I do without her! she is a gem!)…

     

     

    I was never really into video games as a kid (was afraid the little Wii people would steal my soul!)

     

     

    Sadly, I haven’t gotten any better as I get older!

  19. weebobbycollins on

    My posts may be infantile…but at least they are MY posts and it’s MY infantility…

     

    KevJ…stay strong and don’t let them get you down…

  20. weebobbycollins on

    MIT…I was already too old when the first video game appeared…at that time my 4 year old son beat me at everything. He used to say, “Dad, stop letting we win all the time.”

     

    “Ochhhh!!!” I replied, red faced… :-)

  21. thomthethim for Oscar OK on

    MiT.

     

     

    Whether you are right or wrong, no one knows.

     

    However, your list of the Boards deficiencies are covered by terms like, “seems to”, “appears to”, “it seems”, “apparent disclosure”.

     

     

    I obviously ain’t no lawyer, but if I had hired a brief and he stood up in court and presented evidence with all those ambiguous terms, I wouldn’t be to happy.

     

     

    You are making statements and holding an anti Board stance based on nothing but your wish for these instances to be true.

     

     

    Most of the rest of us don’t jump to those conclusions without proof.

  22. mike in toronto on

    Thomththim…

     

     

    I approach this issue like I would prepare a case … (except I dont get paid for it….I remember SFTB once, after I answered a question he posed, saying that he was expecting more from my answer … but, I’m not getting paid for this, so my posts are just like everyone else’s – worth what you pay for them).

     

     

    there are rules of court that punish parties who, like our Board, simply stick their heads in the sand or plug their ears and hope problems go away …

     

     

    for example, if a company is sued, but fails to calls as a witness an employee who has knowledge of the issues, the court can (and usually will) rule that the witnesses evidence would not have supported the company’s position..

     

     

    in this case, were the question of Celtic’s involvment in the 5WA being mooted, the failure of Celtic’s employees to speak out could and likely would be used as evidence that they were in fact involved.

     

     

    I dont think I have jumped to any conclusions…. I have been pushed there, rather reluctantly, by the Board’s refusal for almost a decade to publicly deal with any of the important issues plaguing football in Scotland…

     

     

    I think too many are wilfully blind when it comes to our Board. For me the really interesting question is why that is. But, that is a disccussion for another day…

     

     

    HH

  23. thomthethim for Oscar OK on

    MiT,

     

     

    Heading out now, but notwithstanding your eloquent explanations of the workings of the courts,

     

    The point I made was that virtually every point you made was qualified by, for want of a better word(s), a get out, as quoted.

     

    Therefore, without knowing any of the facts or underlying reasons for the Boards actions of inaction’s,you chose the negative route.

     

    In so doing, you completely ignore the climate that the club operate under. A climate that we are more than familiar with.

     

     

    If you have been around here long enough, you may have come across my well worn mantra of BC or DC.

     

    The meaning of which is that there are only two situations in which Celtic would not be deemed to be complicit or condoning the actions of the SFA.

     

    They would be to fold. like Belfast Celtic, or seek a different league to play in.

     

    Neither option is feasible at this time, therefore we have to play with their ball.

     

     

    By the same token, all of us who contribute, in any way to Scottish football and haven’t walked away, are also complicit and condoning of what has happened.

     

    Throwing stones up at the window or stamping our feet in an angry manner is futile.

     

     

    They will have to be beaten by their own rules or the law of the land. So here’s hoping.

     

     

    Remember, we are all angry and hoping that some form of justice will be served.

     

     

    Over and out.

  24. MONAGHAN1900

     

     

    Appalling, just when you think they can’t go any lower, the wee guys about nine getting slagged off by “the master race”

     

     

    The sooner their stinking’ carcass dies the better…

  25. Monaghan1900 on

    STARRY PLOUGH on 17TH JULY 2018 5:14 PM

     

    MONAGHAN1900

     

     

     

    Appalling, just when you think they can’t go any lower, the wee guys about nine getting slagged off by “the master race”

     

     

     

    The sooner their stinking’ carcass dies the better…

     

    ————

     

    Starry, this is the mentality that thinks it’s smart to pick up a down and out in Lisbon, throw him into a fountain, film it and put it up online.

     

    Clearly superior beings.

     

    Imagine calling wee kids “mistakes”.

  26. More horrendous goings on today on rangers media.

     

     

    they had a thread on angela haggerty that was just vile.

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7