There’s those words, “prima facie” again. “After examination of the evidence, Leading Counsel’s advice is that there is a prima facie case to answer”, read a stock market statement this morning by Worthington Group PLC, after the Leading Counsel “who is also a Deputy High Court Judge”, examined the case of their subsidiary, Sevco 5088 Ltd’s claim for the business and assets of Rangers International Football Club PLC.
“It is the position of Sevco 5088 Ltd that it is the rightful owner of the business and those assets”.
As revealed in the document below, Companies House now record Craig Whyte and Aiden Earley as directors of Sevco 5088 Ltd, alongside Charles Green.
The court will examine if Mr Green acted appropriately when he removed the entitlement of Sevco 5088 to acquire the assets of Rangers FC (in liquidation) and assigned them to Sevco Scotland (now renamed and trading as a subsidiary Rangers International FC PLC.
Rangers International stand accused of not owning the business they operate.
Subsequent to the entitlement to buy Rangers FC’s assets being passed to Sevco Scotland, Mr Green became the beneficial owner of £4m worth of Rangers’ shares at a cost of £40,000. Rangers International then raised £22m through an Initial Public Offering on the AIM market and the company became owners of a business worth tens of millions of pounds.
The allegation that Duff and Phelps disposed of Rangers assets to a company controlled by Rangers owner will be of interest to liquidators, BDO, who are likely to ask Lord Hodge for an opinion on behalf of creditors.
I am sure Rangers International FC PLC will strenuously deny they inappropriately acquired assets of Rangers. They will also take steps to immediately assure Cenkos, the nominated advisors of their IPO, that investors money is safe and the IPO was appropriately handled.
They will, at the same time, assure Cenkos that these allegations were not made known to Sevco Scotland prior to the IPO, otherwise potential investors would have been alerted.
These are the most serious allegations leveled in the entire episode of the Rangers group of clubs. The first question for the independent inquiry setup by Rangers International should be ‘What the hell have the non-execs been doing all these months?’
The cheerleaders for Mr Whyte and Mr Green have done enormous damage.
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Doc I’m not much of a poster but I was there last Saturday
Jungle Jim
Good team
if Broonie not fit Matthews at RB with Lustig playing in front of him
Fishemhan, number of post don’t count, attendance does.
Quality certainly doesn’t, look at my post further up the page.
Looks like sevco are in the primary faeces.
CQN would be listless without a list……
neveralone
Never mind the city, get yourself over to Didsbury for the craic.
gillian i scream
I used to door on that pub
SFTB
cheers
hope to
I have a lisp and also suffer from dyslexia.
Listlovers (albeit a little one) -Koko
G&SMikadoCSC
I feel like getting Brahms and Liszt
doubt that SFA and SFL , even the SPL, will be arsed about the many sevco companies etc, they will just regard that the football club as being outside all these shennanigans and said club – whatever its The The name might be – can continue in senior Scottish football come what may. Sad but true.
I’ve just YT’d “halls of Donegal” and got an
orange ludge.
P
Obscure list: Famous Mormons in Wrestling.
On the face of it Chuckles is not a fit and proper person to be involved in the running of a football club as he misled the footballing authorities over Craig Whyte’s involvement in the takeover.
Surely for the good of the game someone should be raising the issue with the SFA?
TBB- Stonecold Jimmy Osmond?
Down with lists, Sevco, huns, masons, St Mirren, the SFA and self indulgent drivel (SID for short).
TBB
I’d wrassle with redhot Marie Osmond
Battered Bunnet @16.45,
I thought of toilet tennis signs as my money spinning golden ticket in the mid 80s. Would usually tell my pals about it about halfway through a night at the pub but never did anything about it.
Does this mean my idea wasn’t original?
Say it ain’t so!
The use of Hawkeye technology has transformed toilet tennis.
Especially on clay.
Ernie –
I concur comrade. In fact at the time he was starting Sevco up and buying assets I remember thinking “Given the experience they’ve had with Whyte, I wonder what robust processes have been put in place by the authorities to make sure this can never happen again?”.
Are you aware of any procedural changes that were implemented to address this obvious gap?
To all team selectors:
I’ll break it to you gently:
Neil Lennon picks the team.
In the Servco movie, can I play myself jumping up and down in my front room, on Valentines Day, screaming with delight? I would’ve even take a fee or royalties.
My android phone screen is listing to the left with characters falling off.
Is there a r
e
a
s
o
.
.
.
Second reply from Ruth Davidson
Dear Mr vp,
Following our previous correspondence regarding the events in the Gallowgate of 16th March 2013, I have now received a response to my letter to Strathcylde Police Authority.
In it, the Convener of the authority recognises the number of complaints surrounding these events and points out that numerous referrals have been made to the Crown Office related to the march that day.
He further acknowledges that these criminal legal proceedings will look at whether conduct was proper and if the courts suggest any impropriety, that will undoubtedly result in further enquiries into the matter.
I support the due process of law, will watch the process of these referrals through the court system with interest and reserve judgement on whether enquiries further than any resulting from the legal process are required until that process is complete.
Thank you once again for being in touch.
Yours sincerely,
Ruth Davidson MSP
Glasgow Region
Scottish Parliament
Edinburgh, EH99 1SP
0131 348 6371
Ernie-correct,Regan still under his desk with a hankie on his head and pencils up his nose
wibble!
One for the Sevconians who will claim they were duped – A Ship of Theseus indeed.
http://ftalphaville.ft.com/2012/10/11/1204671/ship-of-theseus-seeks-flotation/
Official website stating that we are to play Rangers in Glasgow Cup Final.
Who are they ?
HH
neveralone
15:57 on
17 April, 2013
Pub Info request.
Will be in Manchester city centre in a couple of weeks. Never been before. Can anyone suggest good drinking/eating pubs?
Good advice from Livibhoy earlier.
Would add old type pub like Pevirrill of the Peak not far from Hilton.
If it is wet there are plenty of pubs in the Printworks where the Hard Rock Cafe is and Waxy O Connors who at some traditional Irish music.
My nephew is asst manager.
Chinese food then plenty of choice in ChinaTown.
operator
Nonsense! Everyone knows that, really, PL picks the team for NFL, but he is only really doing it on behest of DD, who gets his orders from OD (opus dei)….. And since I suspect a fair few on here are ID’ers (although I wont say who I suspect), then, really, they do get to pick the team! simples!
Doc & Moonbeams
I was there, feed the bear!
http://destinneyphotography.photoshelter.com/gallery/Fans-Against-Criminalisation/G00004f5YHLvmHE4/
neveralone
15:57 on
17 April, 2013
http://www.abodehotels.co.uk/manchester
El Rincon de Rafa Manchester
Michael Caines is doing exceptional food for great prices in his abode hotel just now and has been a good friend to this blog and it’s charitable activities
LizT aylor . . . you have to want it!
whitedoghunch
17:46 on
17 April, 2013
neveralone
15:57 on
17 April, 2013
http://www.abodehotels.co.uk/manchester
Good call. Great hotel.
Can’t stop laughing @corsica1968 Protected account 19m @walsh2509 @cqn @andyfisher1967 IF…remember it might have been CW/AE who submitted TM01 e-form but that means CG gave them authorisation.
@walsh2509 @cqn @andyfisher1967 Why would CG terminate their directorships? He has no authority to do so (unless CW/AE agreed in minuted mtg
Can’t stop laughing @corsica1968 Protected account 17m @walsh2509 @cqn @andyfisher1967 CG can’t just terminate directorship even if alleging fraud; would require court order.
googybhoy ♥ Celtic
Michael is a fine man
Agent Whyte (dawning a black wig) has just released this song….
m.youtube.com/#/watch?v=1orMXD_Ijbs&desktop_uri=%2Fwatch%3Fv%3D1orMXD_Ijbs
whitedoghunch
17:52 on
17 April, 2013
googybhoy ♥ Celtic
Michael is a fine man
Never been in but will make a point of doing so next time in town.