30% interest! Nice one, Newco Rangers, you’ve got yourself a deal there. Suggestions that your business plan has been, and remains, unsustainable and extravagant are patently absurd when you can borrow at the kind of rates a Zimbabwean pimp would get at the height of the ZWD’s recent hyper-inflation episode, although it’s probably worth noting that Zimbabwean businesses are currently borrowing at slightly less than half of what Laxey are charging Newco, solvent ones, anyway.
An administration would be a severe embarrassment to the Newco, less than two years after its incorporation, but in many ways it would be a boon, allowing the club to offload all the high earners and establish a breakeven trading platform.
It is utterly incomprehensible why they have not called in the admins, which itself shines a light on management processes inside the club. No one seems to be asking, “What next?” Getting deeper into hock with a hedge fund is ruinous. Notions that if the loan is turned into shares would be a soft landing for the club are absurd. This is a hedge fund. A HEDGE FUND!! The more shares they have, the more exposure they have, the higher return they will demand.
Need some new players, tough, pay my money. Ticket sales down, that’s disappointing, cut back and pay my money. Got some maintenance work to do, I don’t care, pay my money then see what’s left.
Keep your eye on the sale and leaseback plan, although not until September. They should commission a brass statue of a Newco season ticket holder, touching his toes, with the motto ‘Brace yourself’ below.
The only question left is who will be the complicit front man for season ticket sales this year?
Most people are only beginning to realise the consequences of the events of 2012, or what it means to be a zombie club, walking around, not quite the same as before, with various groups randomly gorging on you. Nothing will ever be as it was. Ever. They should’ve listened, before high-fiving Sir David Murray, then Craig Whyte, then Charles Green. It’s not like we didn’t tell them.
If you’re in the football business, rule number 1 is: Pay your bills. Every other rule, value and aspiration cannot be met without this rule.
Many thanks to everyone who submitted questions for last week’s Celtic Forum. The minutes have been published, and are available here.
If you would like to read the new CQN Magazine, GO HERE to read properly, and for FREE, the graphic below is just a taster.
[calameo code=0003901710a55b5798f06 lang=en page=1 hidelinks=1 width=100% height=500]
860 Comments- Pages:
- «
- 1
- ...
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- »
NatKnow – Supporting Wee Oscar
I suspect it is a dodgy dish the boozer has.
Ideal for yourself though. Where is this gaffe?
LB
Frank Ryan’s Whiskey
11:17 on
25 February, 2014
Strange as it may seem you could be a Mason and have no conflict of interest. I know 2 – one’s a St Johnston fan, the other is Stirling Albion. Whilethe majority probably are, not every Mason is concerned about Rangers’ best interest.
If the judge had a direct connection to Rangers as a season ticket holder or shareholder, then he’d have to declare.
I’m glad the Celtic connection was declared up front, and as has been stated nobody objects.
There are ways to get tonight’s game on your PC, but it’s not legal, well kinda not legal if you get my drift.
Stefan Johansen is Neil Lennon’s main concern as Celtic prepare for Tuesday’s Scottish Premiership game at Aberdeen.
BRTH @ 11:04
Murray may not be (nor ever have been) Edinburgh ‘Establishment’, but he was sure as hell a wannabe parvenu, who would have scratched quite a few backs on his ‘climb to the top’.
It doesn’t take much of a leap of imagination to draw up a list of Edinburgh lawyers, financiers, advisers and similar hangers-on who could have been asked for a favour, by Murray or one of his well-connected clique …
FF
LiviBhoy – God bless wee Oscar
11:32 on 25 February, 2014
NatKnow – Supporting Wee Oscar
I suspect it is a dodgy dish the boozer has.
Ideal for yourself though. Where is this gaffe?
LB
—————————————————-
Polworth mate. Doesn’t look like they would have a dodgy dish so I thought they were maybe just assuming the game was on Sky. But it’s Edinburgh so who knows?!
NatKnow – Supporting Wee Oscar
That’s not far from me. Let me know if you find out. I can take a run up there in the motor.
LB
Griffiths and Johansen both went off with injuries on Saturday, so must be doubtful for tonight. I haven’t heard how long Izzy will be out?
“It doesn’t take much of a leap of imagination to draw up a list of Edinburgh lawyers… who could have been asked for a favour, by Murray or one of his well-connected clique”
it does take a massive leap unless you specify the “favour” that “could have” been asked for. I mean, what are we talking about here? Court judgements being pronounced according to who the judge might be ‘pally’ with???
Team sheet latest……………..Nir Biton
Phil MacGiollaBhain@Pmacgiollabhain·12m
A senior person in Irish banking sector just read the Laxey loan conditions to RIFC and said:
“The club must be really desperate for cash.”
weeminger
11:33 on
25 February, 2014
Frank Ryan’s Whiskey
11:17 on
25 February, 2014
Strange as it may seem you could be a Mason and have no conflict of interest. I know 2 – one’s a St Johnston fan, the other is Stirling Albion. Whilethe majority probably are, not every Mason is concerned about Rangers’ best interest.
If the judge had a direct connection to Rangers as a season ticket holder or shareholder, then he’d have to declare.
I’m glad the Celtic connection was declared up front, and as has been stated nobody objects.
==
Hi, my question wasn’t really in relation to Rangers or Celtic just admissions from Judges with regards to conflicts of interest regarding particular cases. Right and honest to admit you are a Hibs, Aberdeen etc supporter if this may be deemed to influenece your handling of a case but seemingly it is ok not to admit to being a mason in a region of the UK where membership of this is endemic is also ok. For the sake of clarity is there any record of any judge declaring a conflict of interest due to his membership of the Masonic lodge?
So what some are saying if I am reading this right, is that LNS was duped, and his hands where tied, then surely fellow judge Doherty should ride to his rescue and right the wrong that’s been done to his compatriot, yes, no?
No Excuses
The way these tax schemes work is that you sign up with a firm of accountants who provide a tax scenario that saves you a lot of money. In return they get a very healthy fee but circle their own wagons by saying that there is no guarantee that the Gov’t won’t challenge the scheme or even outlaw it by way of legislation.
Now, at the same time, the accountants will guarantee that they will assist in any legal challenge— provided the client operates the scheme correctly– because of you don’t then all bets are off as you may well be het for the tax. In other words the client has to follow the advice to the letter.
Thornhill, will argue that the payments made to the Jersey Trusts are all discretionary and state categorically that they were not contractual. He will point to the fact that the majority judges did not find that they were contractual payments and that it was not the case that there was a side letter for every single trust– just some of them.
He may also argue about the exact wording of the side letters– suggesting that whatever they say they were not letters which contractually bound Rangers to making the payments.
If all of that is accepted then he may secure a victory.
But see Dr Poon’s reaction to such a series of suggestions.
Thornhill’s reputation will not be damaged here no matter what the outcome.
Malceye
Like it or not, there is an “establishment” amongst the professions — whether it be lawyers, accountants, surveyors– and it exists in every big city or town.
Whether masonic or not is another matter, it is just an acceptance or belonging if you like.
When I used to go through to the Court of Session fairly regularly I always delighted in being a “Weedgie” and as I have often said I would go with a cream coloured suit or on occasion a green one rather than wear the traditional blacks when strolling up and down the hall at Parliament House.
This was especially satisfying if I knew for a fact that it would annoy whoever I was meeting — even if they were on my side!!
However, you also had to understand how certain things worked so I was not beyond employing ” an Edinburgh man” — someone schooled, brought up and essentially always part of the “Edinburgh” set up.
A former counsel ( now a judge ) and I were once having a coffee. I had employed him in a pretty big case which got quite a lot of publicity. He was a West of Scotland man but walked the boards in the courts of the capitol.
He described the faculty of Advocates ( in those far off days at least ) as one of the greatest clubs in the world to belong to.
He was a nice fella, a good lawyer and saw nothing incongruous in believing in the “club” mentality.
Equally, I know of another legal chap who was obviously destined for the bench at some point in the future. He has now sat on the bench for many years.
How did I know that he was destined for that position? Because you saw him most weeks in Lounge 2 at Celtic Park in the company of the Lord Advocate who at that point was in charge of handing out Shrieval Appointments!!
Over several hundred years, whenever a vacancy appeared to sit as a High Court Judge, the Lord Advocate of the day never once failed to nominate himself — and his recommendation was always accepted.
That is what I mean by establishment feeling ……….
livibhoy – god bless wee oscar
11:39 on 25 February, 2014
NatKnow – Supporting Wee Oscar
That’s not far from me. Let me know if you find out. I can take a run up there in the motor.
LB
——————————
Will check for you LB.
I have Wee NatKnow tonight so can’t go myself. It’s a nice hotel.
NatKnow – Supporting Wee Oscar
Cheers mate. My neighbour is a Tim he may come with me.
LB
If Johansen is unfit for tonight then put Liam Henderson straight in as like for like replacement. Perfect opportunity to give the young man his first start. Keeps the team shape
If Johansen is unfit for tonight then put Liam Henderson straight in as like for like replacement. Perfect opportunity to give the young man his first start. Keeps the team shape that has served us well in last 2 games and gives us numbers in midfield where they overran us last time.
Q: What do you get if you cross an Alsatian with a Mason … ?
A: A police dog with excellent career prospects …
Woof.
Tamrabam
Oh I think he was in on it as briefed ok.
What I’m saying is that what was witheld enabled him to decide as he did and had it not been witheld he would have been unable to rule as he did.
It does not matter if he even knew about the witheld material and chose to ignore it, what matters is that it can be demonstrated that material that should have been taken into consideration was excluded from the Commission thus questionning if not actually nullifing its findings.
We all have a pretty good idea what went on, demonstrating it to be so is another matter which requires evidence which exists but has been ignored so far.
Kayal33
I like that suggestion. I think sometimes the bigger the game the easier it is for youngsters.
LB
BRTH
having walked those boards for over 20 years, I don’t think you’re west coast versus Edinburgh theory applies anymore. Is the Faculty a “club”? Well, from the point of view that we are bound by a set of rules but ultimately our principal obligation is to the court, you can call it a club if you like but I’m not sure what is so controversial standing the rules and obligations.
As for judicial appointments, the days of this being Lord Advocate and therefore political party of the day-inspired are gone. There is an independent judicial appointments committee.
So, historically, very interesting but with respect of little relevance as at today’s date
livibhoy – god bless wee oscar
11:49 on 25 February, 2014
NatKnow – Supporting Wee Oscar
Cheers mate. My neighbour is a Tim he may come with me.
LB
——————-
Just called them and the guy said they were showing it. Ettrick Hotel. Got a big screen and a smaller one in the bar. Hmmm…
if I had a hand in the CQTEN evening
http://vimeo.com/85179187
dontcha just love it that all the orcs problems
have happened in the internet age when we
can get reliable info thro, paul 67, brth phil
ect via twitter and cqn.
previous we would be having to take the spin
and lies from our inept and agenda based
msm
so i for one would like to thank all you ghuys
for your hard work keepjng us informed
BRTH thanks again.
Never could get my head around and doubt I’ll ever have to. No need for trusts on my salary ha.
CQN……………………..Celtic travel to Aberdeen 24 points clear of their nearest rivals, in other lower division news, Div 2 newest club could be trading as insolvent.
NatKnow – Supporting Wee Oscar
I will see the lay of the land when I get home. Not far from me at all. Thanks for that.
LB
livibhoy – god bless wee oscar
12:05 on 25 February, 2014
NatKnow – Supporting Wee Oscar
I will see the lay of the land when I get home. Not far from me at all. Thanks for that.
LB
——————–
Would have met you mate but childcare duties unavoidable tonight. Another time hopefully. You’re not going to CQTen by any chance?
moo @moo_ted · 43 secs
IMO Lord Tyre is leaning towards RIFC !
NatKnow – Supporting Wee Oscar
No worries mate. Another time.
I have managed to get myself sorted for CQteN so I will see you there.
LB
Lord Tyre suggesting it might not be reasonable to grant the IA motion as it may put them into Insolvency.
@twitter
I think the LNS verdict stank to high heaven. I think it was far easier for the trio of LNS, McKenzie and Bryson to come up with a fine than any other outcome. I personally think they decided the fine first and then thought how can we get the public to swallow this. In McKenzie’s case I have some sympathy. After Jabba revealed his identity then the Chris Graham’s of this world would marshall the hordes into action. As for the other two I would say they would be instructed to come to the conclusion they did.
As I said the whole thing stinks. No sporting advantage my arse.
folly folly
11:54 on 25 February, 2014,
That was funny mate :-)
Malceye
It may well be that the Edinburgh v Glasgow thing has diminished substantially.
However, remember when I started practising you could not get a Divorce other than through the Court of Session and this was a real grave train for Edinburgh.
Nor could any papers be lodged in the court of Session other than by a Writer to the Signet, nor could you instruct Counsel direct other than through an Edinburgh Agent if it was an Edinburgh case.
Now all that has changed– members of faculty can now be instructed directly— there is no need for an instructing solicitor at all any more — although it will be interesting to see how that develops as I know in England there is one prominent QC who wants his chambers to effectively open a High Street shop and compete with the solicitors for direct trade!
Re the over riding obligation to the court, I agree, that is the primary responsibility.
However, I recall falling out with one Glasgow borne and bred counsel who was junioring to a very well known and well respected ( and indeed flamboyant ) Advocate Depute. The opposition was an equally flamboyant QC and his junior.
I fell out with the crown junior because a case had folded because the defence had succeeded in arguing that a key point in the case had not been proven by two separate witnesses ( corroborated evidence ) and with out the appropriate corroboration the crown case must fail.
The Glasgow based counsel ( with whom I was friendly ) argued that the defence had acted dirty because the rules of “The Club” were such that they should have leaned across the table and pointed out that this key point had remained uncorroborated and so alerted the crown to the deficiency in the case.
This was also the view of his flamboyant senior.
The defence team’s obligation to the client came second to the obligation to the club– and he seriously believed that!!
I never employed the junior or senior again — both still practice, both are fundamentally good people, decent guys etc etc —- but see themselves as members of the club!!
By the way — neither are Masons or anything like it.
As for the judicial appointments panel — that is a very welcome development— but it is still capable of manipulation.
That said, there is nothing wrong with someone applying for an appointment and relying heavily on an established reputation and other people’s personal knowledge of that reputation.
It is a small country– and a small(ish) profession.
And it gave me many a good story and a laugh before I decided to move on.
Celtic TV the only place for Aberdeen v Celtic
By: Newsroom Staff
TUESDAY night sees the Bhoys take on Aberdeen on SPFL duty as they look to continue their unbeaten league record, and Celtic TV will be in attendance at Pittodrie to bring our overseas supporters all the live action.
Supporters within the UK and Ireland can also log on for live audio of the game.
Derek McInnes’ men currently sit second in the Scottish Premiership table, and Neil Lennon’s men know only too well following the recent disappointing Scottish Cup exit, that the Dons will pose a real threat to our 26-game unbeaten league run, and to Fraser Forster’s proud clean-sheet record.
Join us on Celtic TV as the bid to secure a third consecutive league title continues, and with it the prospect of new records being broken by the Hoops.
Tom Boyd will be in the commentary box alongside Celtic TV’s Kenny McKay for the big match, with the broadcast beginning at 7.15pm (Celtic Park time).
Subscribers in the UK and Ireland can also view the full 90 minutes on playback from 10pm tomorrow night.
To subscribe to Celtic TV or for more information click on the banner below.
Will be in Playa Blanca, Lanzarote for Kilmarnock game. Anyone know of a good pub to catch the game? Don’t see anything on Celtic Bars website. Cheers.
boscobhoy02
I agree this was meekly accepted by CFC/plc, with a statement about their surprise about the decision, then the rapid disbanding of the SPL, so it stands as it was the SPL who asked Nimmo Smith to look at this, more than the decision of Nimmo smith stinks