King, the other Big House, contingency planning

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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.

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  1. Bhoyjoebelfast on

    Re:Milan game march 1969.

     

    Went to the game from the port,near the end I says to my mates Jackie and Nolan, I’m not feeling well.Out comes the hankies,the ambulance guys take me to the ‘room’ for assessment.Youre no’ sick pal,and I agreed

     

    but told them the west terracing,like the rest of the stadium was mobbed,and I needed out pronto.Anyway back to the Port,stayed in Berwick Road,my mate was ‘seeing’ this girl, then to the Partick Thistle on the saturday,big yogi scoring the only goal.

     

    MEMORIES CELTIC SC .

  2. prestonpans bhoys on

    Bmcw

     

     

    I compared my ST with a Rangers* one, ours is much more blue😱

  3. Monaghan1900 on

    Utterly FFin’ warped mentality from a number of a number of angles:

     

     

    “There’s another video with the same kid and some bright spark has taught him how to say ‘FTP’ while recording it.

     

    Now although it’s not as damaging to the [Sevco] support as the other video it would still be seen negatively by most.

  4. Mind at rest. Thanks for the replies.

     

     

    QF

     

     

    Or should I give myself my complete name at the start of a new campaign

     

     

    Quarter Final at least this time.

     

     

    (seemed more likely after the Milan KO game when I started posting as QF but stranger things happen)

  5. South Of Tunis on

    Milan 1969 ..

     

     

    ” I have wonderful memories of that game . I left the pitch knowing that I had played really ,really well ”

     

     

    Gianni Rivera 6 4 1992

  6. CATHACH ( ages ago )

     

     

    “How was Rangers FC when liquidated, allowed to transfer all its assets to a new company and ignore all the rules of Bankruptcy & Executorship, where creditors would have availed of a divd including HMRC? ”

     

     

    BOOM

  7. Joe Filippis Haircut on

    TONTINE TIM. Thanks for your reply to my post the name sevco are registered is The Rangers I like many others dont think a lot of them they cheated everyone in Scottish football and to my mind they got off lightly.However,I refuse to waste my life worrying about them as so many on CQN appear to do like Broonie I would like to see ALL Scottish teams do well in Europe as that would help Celtic. H.H.

  8. Prestonpans buoy,

     

     

    If you look around you may find the new Celtic second top.They have them here.Also the New Hoops.The quality is excellent.If you are looking,just make sure they are exact.At the exchange rate,you will get them down to a tenner.60 Lira,maybe less.

  9. Great result for Celtic last night,with the Cypriots going out,not for me right enough a great away trip for me.Just shows how hard it is.Could be another one tonight.

  10. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    PRESTONPANSBHOY

     

     

    Us Errshur Tims know A Kind of Blue,and have moved Miles just to get away from it!

  11. Turkeybhoy at 10:16

     

    Just back from 2 weeks in Dalyan. Didn’t have our new 2nd strip but tried to flog last year’s to grandson who was wearing his hoops. Asked why they didn’t have new one when the orange and sash ones were on sale.

     

    Reply: “They’re just stupid “

     

    He ended up buying a Messi Argentina outfit – 60 lira right enough

  12. weebobbycollins on

    Warning Fake News…NASA scientists have revealed that Martian women have four eyes, large blue noses and their do wah diddy diddies on their back… “Not much to look at but great to dance with.” said President Trumpet…

  13. Doctors are reporting a national shortage of buttock implants and manufacturers say that they have a production issue that prevents them from meeting the supply – with no end in sight, doctors expect buttock implant demands to bottom out.

     

     

    BBC

  14. prestonpans bhoys on

    Tbh Turkeybhoy I don’t do too much battering, can’t be arsed trying to save £2 or £3. Would rather give it to the locals, I give 10 or 20tl tip at the bar each night anyway

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