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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No ssssuuuurrenduuurr
https://pbs.twimg.com/media/CX-R5KOU0AAje9Z?format=pjpg&name=large
Hahahahahahahahahahahahahahaha….. !!!!
Sorry, meant Whitedoghunch, Hebcelt!!
Twitter world saying we have put a bid in for Borja Viguera
Canamalar it looks like OCD obsession
The chickens are coming home to roost:)
Well done on the Res 12 work..
HH
Paul, I am not going to Speculate on the outcome of these matters.
You’d need an All-Seeing Eye to see all Points of the Compass in the narrative, from the tip of the Pyramid of this case to its broad Foundations.
LP-1 goal in 21 this season,that sounds about right….
Hard to believe that the King of Bling,Bobby George turned 70 years of age there only a few weeks ago.
HH LEGEND!
LENNONS PASSION. Who is Borja Viguera ? H.H.
JFH
Personal information
Full name Borja Viguera Manzanares
Date of birth 26 March 1987 (age 28)
Place of birth Logroño, Spain
Height 1.83 m (6 ft 0 in)
Playing position Striker
Club information
Current team
Athletic Bilbao
Number 21
Youth career
Berceo
2003–2006 Real Sociedad
Senior career*
Years Team Apps† (Gls)†
2006–2009 Real Sociedad B 91 (25)
2007–2012 Real Sociedad 14 (0)
2011–2012 → Gimnàstic (loan) 15 (2)
2012 → Albacete (loan) 10 (1)
2012–2014 Alavés 79 (43)
2014– Athletic Bilbao 21 (1)
* Senior club appearances and goals counted for the domestic league only and correct as of 22 November 2015.
† Appearances (goals)
Starry Plough. Thanks fella. H.H.
Joe Filippis Haircut
His favourite food is a haggis supper with pickled eggx2:))
STARRY PLOUGH on 5TH JANUARY 2016 7:28 PM
Joe Filippis Haircut
His favourite food is a haggis supper with pickled eggx2:))
– See more at: http://www.celticquicknews.co.uk/pre-trial-hearing-brings-stark-focus-to-newco-future/comment-page-5/#comments
Take it you’ve not had your dinner mate and pining for home too :-)
Mike in Toronto
I wouldnt let those marxist malcontents anywhere near.
They will immediately try to form a dictatorship of the proletariat, or a committee of public safety.
The crazy surreal anarchists, would just lob fish at them, then batter them with big sticks….much easier:)
HH
Starry Plough. I bet he would love a fried Mars bar then that could be the clincher. H.H. :- )
Anyone up for a game of Spot the Contradiction ?
TONYDONNELLY67 on 5TH JANUARY 2016 6:01 PM
HEBCELT on 5TH JANUARY 2016 3:44 PM
TD67 I know you are an extremely busy person but any chance of a response to my
– See more at: http://www.celticquicknews.co.uk/pre-trial-hearing-brings-stark-focus-to-newco-future/comment-page-3/#comments
I was and still am very busy, way to busy to get into dialogue with malcontents, I find it time wasted in my life, there are a few in here who I don’t do discussion with, and you are one, no offence, but it is rather pointless, please don’t be offended, I’m just answering you to let you know my posts are not up for debate for any of the malcontents.
– See more at: http://www.celticquicknews.co.uk/pre-trial-hearing-brings-stark-focus-to-newco-future/comment-page-4/#comments
1 point for each.
!!BADA BING!! on 5TH JANUARY 2016 7:18 PM
Seen that when I googled him fills you with confidence. Scored a lot for his previous club.
BIG-CUP-WINNERS
Get this for a wee story, mate of mine was home for the festive season I went to meet him on Sunday night with another mate, we’re cracking away and he pulls up a big plastic bag and I think yes goodies.
He produces a big mega pack black pudding square slice etc and ma wee month was watering but he hands it to my other mate saying ” Sorry starry mate but you’ve had health issues:))” I was devastated, he then produces a Bansky calendar and says you’re the Arty Wan:))
Pining aye often for those wee indescribable things:))
Just to confirm its from Twitter world. There will be dozens of these over the coming month. Personally I enjoy the rumour mill but take it with a pinch of salt.
skysports news just showed Green & Whyte arriving at court today.
the biggest jaw dropper and most unbelievable moment of the whole 5 year saga is ……………
how did craighy bhoy pull that burd.
TD67 thank you for your reply but I am still none the wiser as to whether you have evidence for what you posted or is it just your opinion, which of course you are entitled to hold. I will leave others to draw their own conclusions to your response to my quite reasonable request. I would hope you might watch my daughters programme on BBC Alba tonight at 10:00 – Sky. 143, would appreciate your feedback. h H Hebcelt
Saint Stivs
Maybe like ol’ Bonnie Tyler she’d been holding out for a hero?
Imagine being a Sevco fan this evening.
Who are you hoping comes up smelling of, erm, roses?
SDM
Green
Whyte
Duff n Duffer
BDO
Lying King
The list goes on…
However, maybe that self-same Sevco fan is quite happy to learn (from Phil…) that Big Mike has refused repayment of the £5million loan.
That means that Magic Hat now has a fantastic £6.5million burning a hole in his pocket!
Now I understand their swoop into the transfer market to secure the “Accrington Stanley” super stars (both 21, by the way).
Pantomime season, right enough.
Whatever… Roll on Sunday at Stranraer – hopefully a football festival
;o)
https://twitter.com/jamesdoleman/status/684361934540517376?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
Saint Stivs
Ladybhoy mate:))
Hebcelt
Hope you don’t mind me butting in, your daughters programme what is the subject and if you don’t mind, I’ll have a look see, tia :)
Flares a plenty at Genoa match.game held up for 4 mins.will FIFA take action
Apologies for repost but this is really important folks.
I’d ask you to please copy the email below and forward it to your own MSP, adding your own personal details.
Many thanks.
————
Dear
In June 2015 the Scottish Government reneged on its promise to carry out a full and transparent review of the Offensive Behaviour at Football Threatening Communications (Scotland) Act 2012. Instead, the Minister, Paul Wheelhouse, in a twenty minute statement to Parliament, quoted selectively from a single piece of research and a highly skewed YouGov poll commissioned by his Department. During the ten minutes of questions he also lied to the Chamber by saying that Fans Against Criminalisation supported his diversion from prosecution scheme. I am shocked that he has repeatedly refused to withdraw this comment after being requested to do so by that organisation.
On Tuesday 12th January 2016 a petition will go before the Petitions’ Committee asking that Parliament carry out the review of the Offensive Behaviour at Football Act which the Government has conspicuously failed to do.
I am writing to you as your constituent to ask you to support the petitioner and the aims of the petition either in person at the meeting on the 12th or by writing to the Chair of the Petitions’ Committee in advance.
I look forward to your response.
THE GREEN MAN on 5TH JANUARY 2016 7:30 PM
Mike in Toronto
I wouldnt let those marxist malcontents anywhere near.
They will immediately try to form a dictatorship of the proletariat, or a committee of public safety.
The crazy surreal anarchists, would just lob FISH at them, then BATTER them with big STICKS ….much easier:)
****
I am a very simple character really … I read your note, and the highlighted words (Batter fish sticks) are what jumped out at me …. and I thought, ‘hhmmm…. I’m hungry… I could murder a good fish supper!). :)
winniethepoohCSC
Hamiltontim
I will send it to my local MP. If nothing else, it should keep them busy/ confuse the poor bugger for a while!
Marspapa it’s about a season in the life of a small community football team here on the Isle of Lewis, true grassroots stuff, has had great reviews. Hope you watch and will look forward to your view. H H Hebcelt
Tom could never catch Jerry as he’s still on mice pace.
http://www.tv2.no/a/7878702
Hebcelt
Wiill do bud ;)
MiT
Brilliant idea! :-)
With this young Norwegian coming on trial and Ronny personally going to watch players. Is he now having a much bigger say in who we sign ?
TIMBHOY3 on 5TH JANUARY 2016 7:54 PM
Flares a plenty at Genoa match.game held up for 4 mins.will FIFA take action
I owe you a response from some other blog one night.
The Mimtec Years.
I set up the stores and trained the operators on IBM systems for the incoming goods and the shipments. I was one of team of 4 that set up the operations at Kirkton Campus, pre baird road.
The original “Mimtcers” were bussed into greenock from the Livi area. And trained on shifts, an early start meant a 5am pick up. A backshift they didnt get home till 2am.
I met some great people there from 1987 to around 1991.
I used their bus a few times do get dropped off in the Port when on a backshift. They practiced their orange band at the back of the bus. I was never bothered, but i was anxious how it would have looked to anyone coming out of Donnachies or the Port Hibs .
I say good people, there were a handful of tims. Stuart Grey from Leith , we went on the Livi bus from the Paraffin lamp to some matches, a midweek v sain mirren during the centenary season being the highlight.
Around blackburn, armadale, fauldhoose, to pick up a tim in each toon.
Marty from harthill comes into my mind often, hard as nails older guy, no one ever ever said anything to him.
also Jaconelli and another Jimmy Johnstone who worked in the stores.
And bonnar, the ex celtic goalie.
i played for various football teams often as well. as a ringer.
takes a lot to be that shite a ringer, they shouldnt have bothered.
for all the good guys i met, i also met the most horrible business types.
Both Murrays, the Andy guy that was a golfer, the siver fox. More than I can remember.
From day 1 it was obvious a lot was not pukka.
One day it will come out properly.
Lennon’s Passion
And ?
HH
MARSPAPA on 5TH JANUARY 2016 7:53 PM
It was great to see you today my friend, great to catchup and good of you to drop by. Talk about the Celtic and how we can be world beaters again…:)
M sends her regards, gave me a bit of roasting due to the state of the House…you had Marspapa over amongst all this…I said he’s seen it worse…:)
Going to keep the Stella for the weekend, thank you.
We will definitely pop over to yours, talk to you later about it.
Keep the Faith!
Hail Hail!