Marching Newco into the Sea one insolvency at a time

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‘Starve your club of money until I get what I want’ is just about the measure of Glib and Shameless’ statement yesterday.  No one at the SFA, SPFL, the Glasgow City Council, the Co-op/Vatican Bank or Celtic could do as much damage to the Fledgling Rangers as Dave King’s pronouncement.

These people have taken so many wrong turns in this episode it is like they are being operated by a compulsive Karmic puppeteer.  There is a time for withholding ticket sales, Celtic fans did it 20 years ago next month, but Celtic fans had a plan, grassroots support, investors on hand, unencumbered by Fit and Proper concerns, or the law against directors of a liquidated business working in a company using the same or similar name.

Most importantly the Celtic ‘old board’ included some, like Kevin Kelly, who was committed to change, while even the hold-outs were died-in-the-wool Celtic men, if clearly misguided.  None of the decision makers would ever consider razing the stadium.

Fledgling Rangers are at the mercy of hedge funds, some spivs and a couple of ‘Rangers’ men, who must be increasingly frustrated at the attempts of others to usurp what they legitimately bought and paid for.

Before stepping off the ledge – and make no mistake, stopping fans from buying season tickets is the only way to kill not just a club, but any successor clubs – you need to be sure you are in a position to cut a deal, and that you have the cash to make it all possible.  If you don’t have a watertight plan, you are working towards the end of your football club and its dilapidated remains.

I would be utterly amazed if the Easdales or Laxey Partners submit to this Glib and Shameless series of demands.  If they do, I have seriously misread them.

King was on the oldco board when they walked slowly to the gallows, all for the want of the kind of money he now says is needed to make Newco competitive with Celtic.  His chance to bang the populist drum and raise some cash was in the years before the club, stadium, stock and bike were sold for a combined total of £1.

It makes you wonder if there is a plan to march the entire club, and all its symbolism, into the sea, before picking up the driftwood after another liquidation.  For a fan of the club that would be horrendous, but think of the rich pickings available to whoever can grab the assets.

This is high stakes poker, but those forcing the issue don’t have any skin in the game.  Even if the whole thing is washed away in the storms, they will avoid most of the blame.

Delighted to read Fergus McCann on the club site this morning:

“I am very proud when I see Celtic’s progress, its status in Scotland, and its worldwide reputation. Especially when I see the great work of Celtic FC Foundation carrying on the legacy of Brother Walfrid.”

Despite the perspective that the events of 2012 gave us I still meet people who just don’t get what he did for Celtic.  No football fan is under any obligation to worry about their club’s finances but the man at the top is, and when our top man wore a bunnet, our transformation was outstanding.

There is a little over two weeks to go before the CQteN St Patrick’s Night Dinner on Friday, 14 March, at the Kerrydale Suite, Celtic Park.  The beneficiary of  the night will be Kholoni Primary School, Malawi, where we will fund Mary’s Meals to build a kitchen for 1200 kids who currently don’t have meal facilities.

We have received some incredible assistance already (more on what happened in Germany and Belgium when I get the next stage of the development ready), but you can get involved by ordering a personalised beanie hat, with your name on one side and CQN on the other.

Hats cost £15 each and if you order before 7 March you can collect yours at the CQteN Dinner.  If you’re not attending the dinner (and why not?) the £15 will cover postage and packaging.  If you ordered a Virtual Ticket, you’re personalised hat is part of your package.  All profits go to the school kitchen.

Take a look at the front and back of the hats.  To order, email hatfrompat@celticquicknews.co.uk with name, whether you are attending CQteN and address if not, and I’ll get your message to Pat.

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  1. 67Heaven ... I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors on

    John asks BDJ….”When you signed for the zombies in 1985, for the second time, did you know they had a sectarian signing policy”.?………..BDJ….”why are you asking…?” …..John …..”Just asking” …… SSB panel about to go for John’s jugular when he said “would you work for the BNP….? ……….we rest our case…!!!!

  2. bournesouprecipe on

    “We are now speaking in a dialogue we understand – Pounds Shillings and Pence”

     

     

     

    The Sons of Struth 27/02/14

  3. 67Heaven ... I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors on

    notthebus

     

     

    18:53 on 27 February, 2014

     

     

    Not BDO, when they’re dealing with the zombies……

  4. Better explanation

     

     

    In law, a liquidator is the officer appointed when a company goes into winding-up or liquidation who has responsibility for collecting in all of the assets of the company and settling all claims against the company before putting the company into dissolution.

  5. ArranmoreBhoyLXV11 on

    HH

     

     

    These are days when the phrases ” fit & proper” & “due diligence” should be used to bring down the SFA..

     

     

    Disgusting reptiles..

     

     

    HH

  6. 67Heaven ... I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors on

    Incidentally, I hope they don’t pay the SSB…..

  7. dessybhoy

     

     

    All of the remaining assets, whatever that may be.

     

     

    I am painting with a broad brush here

  8. 67Heaven ... I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors on

    Wonder if SSB will mention Fraser is in England squad ….oh, why not ..?

  9. Ibrox Murray Park and the Albion were there at liqidation and are still there, Green was allowed these at an agreed price, a bit over £5m from the administrators if these are worth more and they were quickly valued at more in the company accounts and the share issue, then what are the liquidators going to do about this obvious discrepancy, or are we to turn a blind eye to this and forget it, looks like another hand out to those in blue playing at that stadium, tax man and creditors shafted.

  10. leftclicktic We are all Neil Lennon on

    Till later all

     

    A wee note from one of TSFM sites “bampots” at the UTT today

     

     

    ———————————————

     

     

     

     

    I went along to the UTTT today and it was good to meet “Jean” and “Mr Jean”. Another couple of TSFM lurkers also dropped in, but only lasted an hour before they dropped off (sorry, left). As JC has mentioned previously, it is heavy going at times but interesting all the same.

     

     

    As Jean has already pointed out the bulk of the day was devoted to undermining the credibility of Ian McMillan, Murray Group’s tax adviser, who was their main witness at the FTT, the much maligned Mr Red.

     

     

    Roddy Thomson opened by questioning the “majority’s” view that McMillan was “less than forthcoming” as being sufficient. He also went on to say, that while “credibility” isn’t normally in question once you get to the UTTT, he asked that Lord Doherty specifically makes “findings” on McMillan’s credibility.

     

     

    Jean has outlined a few of the instances where his credibility as a witness at the FTT was questioned. There is no need to repeat them, suffice to say that differences between his oral testimony and the documented evidence were highlighted again and again

     

     

    (I seem to recall that Dr Poon made reference to this in saying that the majority had relied too much on the oral testimony and not enough on the contemporaneous evidence i.e. the documents of the time)

     

     

    By mid afternoon, Roddy T must have highlighted maybe 25 or so points related to McMillan, going over the transcripts from the FTT and the related documents, covering mainly his correspondence (or lack thereof) with HMRC re requests for information on how the scheme worked, providing requested documentation, side letters, what records he kept etc. McMillan claimed that, until 2007, much of the HMRC correspondence was actually drafted by Paul Baxendale-Walker and his people, although ultimately signed by McMillan

     

     

    The most common words used in connection with McMillan were untruths, dishonest, lies, misleading, evasive, falsehood, misrepresent and his commonest responses “I can’t comment on that”, “you’re putting words in my mouth” and my favourite “We could have been more open”

     

     

    He was also accused of removing side letters from the files of Arteta and McCann before passing them onto HMRC. His previous role as a Tax Inspector with HMRC was also noted.

     

     

    In the last hour they moved onto the “brown envelope” which was given to Mrs Orchard (worked for Trident, the latter trustee of the EBT scheme). The envelope contained Board minutes where payments into the scheme were authorised and lists of eligible personnel were listed.

     

     

    Mrs Orchard had initially stated that Trident had this information (should have been a pre requisite before handing out trust funds), but later had to admit that McMillan had only handed over the documents the day before she gave evidence. The credibility of both Mrs Orchard and McMillan were questioned for their respective parts in this event.

     

     

    The final part of the day was spent further undermining Mrs Orchard’s evidence as to the “lax” approach taken with regards to checks on individual loan requests. There were 487 payments made into 108 trusts, 483 loan requests (all of which were granted) with the remaining 4 belonging to “Mr. N” who wanted to leave the funds invested rather than loaned.

     

     

    The checks that Trident carried out on the trust holders were ridiculed, particularly with regard to “Worldcheck” which apparently does internet checks related to political or financial risk. The day ended with a laugh as Roddy T read out a piece of transcript form the FTT questioning of Mrs Orchard about “Worldcheck” ……. So Mrs Orchard if “Osama Bin Laden” was a Rangers player it might have flagged something up, but if you entered “Laden Bin Osama” it might not.

     

     

    =====================================

     

     

    The tribunal resumes at 9.30am tomorrow.

     

     

    I won’t be free to go back until the middle of next week, which might be interesting as Andrew Thornhill should be defending the FTT outcome.

     

     

    On a general point I found some periods pretty tedious as Roddy T rambled along ….. with his monotone voice …… which made it ever so easy to drift away…… as he repeated long bits from transcripted conversations at the FTT with various witnesses ……. and flipped from one binder of documents to another .…. so much so that one of his own legal team closed his eyes for ten minutes or so ….. then even Lord Doherty couldn’t conceal a yawn…….. get my drift?

  11. Haven’t read much into Glib’n’Shamelss but it seems apparent that as you might expect ….thems are more concerned about their horror of our continuing success.

     

     

    They should be thinking about putting their own ( big but dilapidated) Hoose in order.

     

     

    Their hatred will blind them. Guid.

     

     

    Hell mend them.

  12. valentinesday

     

     

    19:09 on 27 February, 2014Good Evening Timland.Whits a cucumber?

     

    “The month after October ” said a guy fae Shettleston….

  13. leftclicktic We are all Neil Lennon on

    Pogmathonyahun aka Laird of the Smiles

     

    Over 6:5 million views in 9 days :))

  14. timaloy29

     

    16:59 on

     

    27 February, 2014

     

     

    Bit late catching up.

     

    About a fortnight ago I posted to the effect that PL should be asked to explain why under his stewardship Celtic have gone from season book waiting list to closing off sections of Celtic Park.

  15. bournesouprecipe

     

    18:55 on

     

    27 February, 2014

     

    “We are now speaking in a dialogue we understand – Pounds Shillings and Pence”

     

     

    The Sons of Struth 27/02/14

     

     

    In fairness I believe he said ‘They Understand’.

  16. !!Bada Bing!!

     

     

    Ta for clearing that up, sometimes a think am no smart

     

    enough fur this blog thing…..btw you going to the do, if

     

    you ur you can keep me right wae the knifes and forks

     

    and stuff like that.

  17. See the papers are jumping on the Aberdeen feel good factor, coming up with all the ways Aberdeen will challenge us next season :-(

     

    When we play them after the split a good spanking will be in order abd show the sheep and the stupid media they got lucky x2 but won’t be again HH

  18. 67Heaven ... I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors on

    quonno

     

     

    19:21 on 27 February, 2014

     

     

    Try ‘Recession / demise of derhun’ ……on both counts, nothng to do with Celtic’s performance and, in both situations, the SB situation will gradually improve…..once the recession receeds and once the zombies finally lie doon …

  19. 67Heaven ... I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors on

    A cucumber in Shettleston ?……wouldn’t bet on it lasting long

  20. The mark of a classless wee man…..Hope he leaves via the back door,too.

     

     

    Naming a stand after him and ignoring the likes of our Lisbon Captain?….No thank you.

     

     

    Imagine asking this of Tommy Burns……..

     

     

    When the inevitable parting of the ways came it was as emotional as it was traumatic for Tommy.

     

     

    He said: “Fergus asked head of security to ask me to leave through the back door. I said, ‘I came in through the front door and, sure as God, I’ve not done anything to make me want to walk out the back door’.”

  21. winning captains

     

     

    18:20 on 27 February, 2014

     

    Estorilbhoy

     

     

    CQTEN tickets are on their way.

     

     

    Have three tickets left if anyone wants to join us. Email david@Cqnmagazine.com

     

     

    —-

     

     

    Cheers WC.

  22. Far be it from me to stick up for part of Weegieland,but lay off Shettleston…I pass

     

    through it’s fine boulevards whilst going to work in the morning …..I have yet to receive

     

    a brick through cab window……yet.So fair play to it’s honest residents.

  23. A cucumber in Shettleston used to hold up a bookies? Cool! Whits the odds in that happening?

     

     

    I hear the police are currently taking stock of the situation.

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