Today’s pre-trial hearing at Edinburgh Sheriff Court against Charles Green, Craig Whyte and others involved in the business of Newco Rangers brings the state of the football club into stark focus.
Charles Green is accused of raising £21m for Newco Rangers by fraud via their December 2012 IPO. He is also accused of defrauding Sevco 5088 Ltd, the company who were awarded the right to buy the assets of liquidated oldco by administrators’ Duff and Phelps.
Craig Whyte maintained that he, or his associates, had a controlling interest in Sevco 5088 Ltd, and produced a famous recording allegedly featuring Green tell him “You are Sevco”. Although Duff and Phelps contracted to sell to Sevco 5088, another company, Sevco Scotland Ltd, actually bought the basket of assets.
Sevco Scotland was controlled by Charles Green or his associates. The company was renamed to The Rangers Football Club Ltd and is now a football club, sitting top of the Scottish Championship.
While in charge of Newco Rangers, Green’s PR issued a number of confusing statements around Sevco 5088, insisting both that he made certain arrangements with Whyte which he had no intention of honouring, and that he was entitled to switch the beneficiary of the Rangers liquidation Sale and Purchase agreement to Sevco Scotland Ltd. A move he claimed was to give the company a Scottish registration number.
The remainder of the various rap sheets tell grubby tales. Green is accused of fraudulently obtaining the £5.5m he used to acquire the assets of Rangers, and of using £200k from Rangers Youth Development Ltd to aid the purchase. Whyte is accused of defrauding Ticketus and Merchant Capital of £28m, and various other crimes and misdemeanours, but these issues are a side matter. The action regarding the future concerning football is with Charles Green.
Think back to his counsel’s words as he sought funding for his defence from Newco Rangers last month. The £21m IPO money and those assets purchased by Sevco Scotland were ploughed into the club now sitting at the top of the Championship. Should these charged be upheld, the assets would be proceeds of crime.
Green was allowed to issue unfathomable edicts as a desperate PR campaign blamed others for bizarre conspiracies. This was enough for an already-compliant media and he played to the gallery magnificently. Supporters lapped it up.
Under pressure to provide the stock market with a clean bill of health, the club went to the Masons for a report in April 2013, Pinsent Masons, who in conjunction with auditors, Deloitte, found none of the alleged links between Green and Whyte surrounding the asset sale and setting up of Newco. I understand the investigation heard no testimony from Craig Whyte, so found no evidence of anything inappropriate.
All of this provided temporary respite on the park and in the Scottish media but the ultimate Day of Reckoning was never going to be affected by PR. Should charges against Green be upheld, the only unfathomable consideration will be what future a football club with no legally acquired assets has.
There is a chance that all the dominoes will fall in Newco’s favour. That all charges are unsuccessful, that Mike Ashley relinquishes control of all contracts and that investment will be found to meet medium-term cash requirements. It is also possible that one or more of these dominoes will remain standing, and that nothing will ever be the same again.
Best of luck to all parties. I wonder when the penny will drop with those recently rooting for Green to be put away of the consequences……
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I’ve given her my meds so she won’t lurk for a few hours :-))
BT,
Hope she recovers quickly.
HH
GOod morning friends from an ever so damp underfoot yet mysteriously dry overhead and calm-ish East Kilbride. Does feel a wee bit chillier this morning though no evidence of frost.
Thanks Jobo, although I’m 7500 mile away by dajy is not started till I get the ek weather.
Ps 30 degrees and dry here
HH
Morning all.
Pitch black still down here. Looks like rubbish weather down here for the next couple of days. At the moment, it is quite quiet and calm. The calm before the ole storm?
Just in the office to a full diary
Isn’t it wonderful to be fighting the Tory government on a daily basis
Keep the faith
Don’t really want to get dragged into an old argument but, imo, John Collins was a football player; Peter Grant tried to be and didn’t really succeed.
BLANTYRETIM
I’m getting similar popups,mate. And I guarantee the last thing any ex of mine would want is face-time.
A baseball bat or a seven iron would be further up the list!
Keep fighting the good fight,bud. And give Mrs BT a hug from me. Once you’re sure she’s not contagious…
RB 7 09
Thanks for the reply……I think our black ash aced your red blaize at St Columbas.!! Your father was a gent as was the referee.Surprised at the date as it wasn’t until 1967 ,a good year,when we won the McGinley cup at Holm Park v St Laurence,under the guidance of aforementioned referee.Nice chatting.
macjay
“Friends,now absent from the blog,were vilified for daring to suggest that there may be a ” religious ” aspect to some of the horrific events we have seen unfolding round the globe.”
No- They weren’t.
They were vilified for saying that ALL adherents of a particular religion- Islam- were uniquely evil, warlike or depraved. They did not even advance the nuances involved within the Sunni/Shia conflict far less the medievalist attitudes of the sects within IS, Al-Qaeda or Taliban or whatever instant new label differentiates Eurasia from Eastasia or whoever we are at war with now.
It was an analysis on a par with describing the IRA as Catholic terrorists. Or scoring points by seeing if the last charged sexual offender in Scotland was pictured wearing a Celtic or a Sevco tap.
The rapes and sexual assaults in several German cities were carried out by large groups of men, many of whom were North African, therefore likely to be nominally, at least, from an Islamic background. The idea that this was orchestrated “religious” rape is worse than fanciful. In the ghettos of the continent, including our own land, there is lawless behaviour and it comes into our cities.
These were ned gangs and, even if they were all from an Islamic background, a questionable inference at best, it does not show that their desire was “religious” rather than lustful.
So, have your reservations about mass immigration and your fears that amongst this movement, radicals will hide. All of that is legitimate and grown up and capable of being debated.
The “All Islam is uniquely evil” is a sectarian position as daft as saying “all prods or all tima are…” and you should take greater care to distance yourself from it. Kojo was happy to take an Enoch Powell position and he was called on it- and he chose to remove his persona from the Board.
“tima” should read as tims.
Off into work now
Hebcelt
I watched the BBC Alba show and enjoyed it thoroughly, took me back to great memories to my days as a coach here and in Canada, good show, and well done to your lassie, she did a grand job, and hats off to the two wumin in the kitchen as well,, that’s where the grass roots of a club blends from there and upwards, people forget to easy where it all starts.
SETTINGFREETHEBEARS
I don’t recall MACJAY saying ‘All Islam is uniquely evil’
Just thought I’d mention it,as I know you’re a stickler for accuracy.
BMCUW
I don’t recall claiming that he did (I even produced the quote from him that I was addressing.
Can you show me the bit in my post that claims he did?
SETTINGFREETHEBEARS
The latter paragraphs of your post clearly imply that he did.
He didn’t.
As such,he has no need to distance himself from it.
You often accuse other posters of ‘putting words in your mouth’ which you haven’t said.
The latter paragraphs of that post were doing exactly that. Whether directly or by implication,it declared MACJAY racist/ Islamophobic.
TD67 thanks for your comments glad you took the time out to watch it, I shall pass your comments on. As I posted earlier Mrs Hebcelt and I are well chuffed. H H Hebcelt
SETTING FREE THE BEARS FOR RES. 12 & OSCAR KNOX on 6TH JANUARY 2016 8:44 AM
macjay
“Friends,now absent from the blog,were vilified for daring to suggest that there may be a ” religious ” aspect to some of the horrific events we have seen unfolding round the globe.”
No- They weren’t.
They were vilified for saying that ALL adherents of a particular religion- Islam- were uniquely evil, warlike or depraved.
-==================================================================
Nonsense.
They recognised that ISLAMIC Jihad was perpetrated,surprisingly enough,by MUSLIMS and their Holy War was directed against non Muslims,frequently Christians.
Nevertheless………….
Specify.
Who are you accusing thus ? “They were vilified for saying that ALL adherents of a particular religion- Islam- were uniquely evil, warlike or depraved.
And when?
You ,however,shamefully refused to recognise that the sexual grooming and attacks perpetrated by persons of Pakistani and/or South Asian descent on young females of essentially different race in Yorkshire were racist in nature.
Tell us,SFTB ………….How many Muslim women were groomed and sexually abused?
Give us the list.
And,please……….Quality,not quantity. No need for a Ph.D. response.
macjay1 for Neil Lennon
The victims of islamic jihad are overwhelmingly muslim
Rebels have been replaced by cliques of up themselves snobs.
The Jungle has been replaced by 200 wee bhoys & ghirls from
the Magnificent Green Brigade….without them, Celtic Park
is a library.
Celtic FC is dying on its feet
CQN is dying on its feet.
But,…….but…..know what the worst bit is ?
The died(LOL) huns will be back tae dance on yer graves.
I hope yer all so proud.
….away back tae ma pit zzzzzz……..
timaloy29 on 6th January 2016 9:30 am
You`re probably right.
But ISLAMIC JIHAD by definition is directed against non believers whether it be Sunni against Shiite or against any other ” non-believer ” who happens to be handy.
macjay1 for Neil Lennon
Jihad is about fighting a holy war for god
For example, ISIS is a Sunni Muslim group that views shias as apostates. They believe it’s their duty to murder them or force them to convert.
Oh right, now the handymen are getting it
The Jungle has been replaced by 200 wee bhoys & ghirls from the Magnificent Green Brigade….without them, Celtic Park is a library. – See more at: http://www.celticquicknews.co.uk/pre-trial-hearing-brings-stark-focus-to-newco-future/comment-page-10/#comments
I’m afraid your way wrong there, they are politically organised, trust me, this Wee Bhoy and lassy thing is a myth,
Morning Celts.
Thankfully we dont have to worry about the religious maniacs like ISIS in Scotland
Apart from the Orange Walk and Huns who think its the seventeenth century:)
HH
“the sexual grooming and attacks perpetrated by persons of Pakistani and/or South Asian descent on young females of essentially different race in Yorkshire were racist in nature”
I’ll leave the sociology and psychology of sexual predation to those who are qualified, but these offences are criminal in essence, and heterosexual in nature. The nature of it is Male sexual exploitation of Females, typically young Females, by typically adult Males.
Introducing a Racial aspect as a primary feature of these offences would require evidence that the perptrators carried out these acts primarily with a Racial motivation, rather than a sexual one. Can you provide that evidence? I’d be obliged.
trust in ignorance :oD))))
TD67
Pardon my ignorance.
But why should anybody worry if the GB are politically organised.
Its not Russia you know.
People are allowed by law to be politically organised….Its called Democracy.
Or is just the GB that you dont like?
HH
timaloy29 on 6th January 2016 9:41
Non believers include Christians who have ,as you know,been murdered for being Christians.
Egyptian Copts.
THE BATTERED BUNNET on 6TH JANUARY 2016 9:45 AM
“the sexual grooming and attacks perpetrated by persons of Pakistani and/or South Asian descent on young females of essentially different race in Yorkshire were racist in nature”
======================================================================
Introducing a Racial aspect as a primary feature of these offences would require evidence that the perptrators carried out these acts primarily with a Racial motivation, rather than a sexual one.
===========================================================================
Interesting.
You state that as if it`s a fact.
How many Muslim women were victims?
Good Morning Bhoys I feel a wee bit sorry this morning for Stokesie a young man who should have everything a job playing football for the famous Glasgow Celtic. Two lovely children and a partner a possible place in this summers European football cup.However.he is out of the door asap if Celtic get an offer he has left his two children and partner and as he is not playing first team football he is unlikely to be picked for his International team.What a mes the Bhoy had got himself into come on Tony wake up and smell the coffee before its to late and you are a 40 year old looking back and thinking what it should have been like . H.H.
My friends in Celtic,
One thing I will never change is my belief in equality.
Equaliy for females has been a long hard fight No cult, religion, culture or beliefs should take presidence over equality. If there are facts or trends then we must face them.
I may not have initials after my name, but my belief in true equality will never be swayed by intellectuals.
Hail, hail. Justicepeaceandequality.
TIMALOY29
IS is apparently neither Sunni nor Shi’ite. It follows a worrying subsect of Islam.
One where ALL who don’t follow the same doctrine are classed as ‘unbelievers’
There are numerous articles on it.
http://mondoweiss.net/2015/11/isis-wahhabi-doctrine
http://www.newstatesman.com/world-affairs/2014/11/wahhabism-isis-how-saudi-arabia-exported-main-source-global-terrorism
and one from TIME a couple of weeks ago which I can’t find online but which I probably still have in the house.
Their message is quite simple. Convert or die-and make up your mind very quickly.
As in every religion,when its message is contorted and subverted by fanatics it becomes a source of evil.
History is littered with such. This time,it is the turn of Islam. Quite the little game of pass the parcel…
The green man
I’m a Celtic supporter, I’m not a part of any organisation, CT, GB, or any other, but if your not up for me having an opinion on the G B then yes you seem to think we’re in Russia! No? All I said was they are organised politically, some think they are a Wee bunch of daft boys and lassies, they are far from it.
Greenpinata
Ive got letters after my name.
Doesnt mean i cant be doolally most of the time.
To me….A typo i a form of relief….as most of the time i have to be faultless with the written word.
CQN….is where i can spell how i like….Badly, if i feel like it:)
And i do love to crack the odd gag in poor tatste.
Anyway…HH
THEBATTEREDBUNNET 945
Being a white guy,were I to suggest such a thing,I would-quite rightly-leave myself open to accusations of racism/Islamiphobia.
So I’ll quote from the Imam of the mosque in Oxford after the recent trial there.
~~~~~~~~~*++*~~~~~~~~~
The Daily Telegraph reported Dr Taj Hargey, imam of the Oxford Islamic Congregation, as saying that “race and religion were inextricably linked to the recent spate of grooming rings in which Muslim men have targeted under-age white girls”:
“The view of some Islamic preachers towards white women can be appalling. They encourage their followers to believe that these women are habitually promiscuous, decadent, and sleazy—sins which are made all the worse by the fact that they are kaffurs or non-believers. Their dress code, from miniskirts to sleeveless tops, is deemed to reflect their impure and immoral outlook. According to this mentality, these white women deserve to be punished for their behaviour by being exploited and degraded.”
Anyone got a spare £1 …..I’m selling a basket-case football club, which accounts for the asking price
The Green Man @10.03hrs.
Having read many of your posts, I cannot argue with you in that ” you are doolally most of the time ”
Only gesting :-)
HH.
Buenas noches,todos.