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Sevco 5088 claim ownership to Rangers Int assets

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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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  1. ” Rangers International stand accused of not owning the business they operate.”

     

     

    Boom there’s yer dinner, has anyone seen the man like Stewart Regan, his panties must be full..

  2. tomtheleedstim on

    Barold Hatchback MBE ‏@Sir_Barold 5m

     

    Who imposed the #embargo on the big story about to break, one wonders?

  3. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    Yeeeeeeesssss….SEE MY MONIKER………what have we been saying all along ….Paul67, EVERY Celtic supporter owes you, and people like Phil, Auld Heid, James Forrest etc etc etc a debt of gratitude which we will never be able to repay …… You Ghuys did not allow them to push all the developments under the carpet…..WONDERFUL….Take a bow…( ALL OF YOU) …….

     

     

    OUR DAY HAS COME ….

     

     

    I’ll read back now……..I CANNOT BELIEVE THIS……keevins, jabba and co. will be hurtin’ now that Truth & Justice have prevailed…..

     

     

    Peter Lawell and Celtic Board …..take a bow…….you did not allow them to ‘drag us into their corrupt mess……you knew what the final outcome (score) was going to be ….and your measuured / strategic silence was DEAFENING……..brilliantly done….!!!!!!!!!!!

     

     

    NEIL LENNON…….I LUV YOU…….!!!!!!!!!!!!!!!

  4. How exactly did the assets of Rangers FC (in liquidation) end up with Sevco Scotland Ltd? That’s the key question for me – although the issue of who exactly owns what is also important.

     

     

    There was an exclusive deal to sell to Sevco 5088 Ltd. Yet the assets ended up with a different company. So did they ever pass to Sevco 5088 Ltd and were then sold/ passed on? Or did the old club, ie our old friends Duff and Phelps, ignore the exclusive deal and sell them straight to Sevco Scotland Ltd?

     

     

    I hope BDO are having a very close look at all of the paperwork.

  5. Is it ok to speak ill of the dead when they are the walking variety – as in Sevco??

     

     

    “Makes my gong go ding dong”

     

     

    TheCrampsHypnosexrayCSC

  6. Up dated from posters this morning.

     

     

    I can confirm the following, Doc, Miss Doc, Cowiebhoy, MWD, Mini MWD, CelticRollerCoaster, Mrs CRC, CaityRollerCoaster, DeccyRollerCoaster, HamiltonTim, Minx1888, The Boy Jinky, Jobo Baldie plus mini, Roy Croppie, Ten men won the League, Palacio67, Mini Palacio67, KevJungle, EmbraMike, Neganon, OldTim67, FourGreenFields,FourGreenFields Jnr(16), FourGreenFields Jnr(10), Mouldy67, BJMac, VMhan, Che, VoguePunter, Gordon 64 and Willy O ,the bold Fenian Mhan (lurker), MightyTim, Iki, Praecepta, FanadPatriot, Johann Murdoch,

     

    Kilbowie Kelt, Sipsini, LostinBonnybridge, Frantic07, Mrs Frantic07,The Good Ship Celtica, Jungle Jim, Bamboo, Neganon2, Swatson neil lennons 6ft skinny twin, Gourockemeraldbhoy, Thebhoyfromoz and thebhoyfromoz jnr, Houl yer Wheest, BognorBhouyle, Tommysbhoy,

     

    The Red Telephone, Youssarian67, Stairheedrammy, Sipsini, Lennybhoy, Vale Bhoy,

     

    Troon Tim, Troon Tim Jnr, Leftclick, Mrs Mighty Tim, SeanyBhoy, SarahGhirl,

     

    The Belfast Belle, Tombhoy, Catman, EasterRdDave, LifeofBrian CSC,

     

    Setting Free the Bears, Fred C. Dobbs Jnr, St John Doyle, Mrs St John Doyle, CeltFish, Lionroars67, BigGeorgeFanClub, Wee BGFC, PrincessBGFC, Mrs BGFC, Senor Pablo Diabo, Fordon, The Melvin Gael, Celtic1member1vote, Big Swee Paul the Lurker

     

     

    Sorry Doc meant to add him last night

  7. TheBlackKnight TBK ‏@THE_TBK 28m ” Leading Counsel’s advice is that there IS a prima facie case to answer” (my emphasis – note: “IS” not “may be”…..

  8. tomtheleedstim on

    weeminger – the company itself is important as it appears to be at least partly owned by Craig Whyte. Therefore, Craig Whyte owned company confirms Craig Whyte’s claim to own assets.

     

    CW has threatened court action many times previously but only ever seems to appear as the defence.

     

    Hope this one is different.

  9. Dontbrattbakkinanger on

    Does this affect their license? The football license they currently hold was dependent on the hands of Our Hero not being on the reins?

     

     

    Could they be stripped of the only trophy they have won?

  10. I can confirm the following, Doc, Miss Doc, Cowiebhoy, MWD, Mini MWD, CelticRollerCoaster, Mrs CRC, CaityRollerCoaster, DeccyRollerCoaster, HamiltonTim, Minx1888, The Boy Jinky, Jobo Baldie plus mini, Roy Croppie, Ten men won the League, Palacio67, Mini Palacio67, KevJungle, EmbraMike, Neganon, OldTim67, FourGreenFields,FourGreenFields Jnr(16), FourGreenFields Jnr(10), Mouldy67, BJMac, VMhan, Che, VoguePunter, Gordon 64 and Willy O ,the bold Fenian Mhan (lurker), MightyTim, Iki, Praecepta, FanadPatriot, Johann Murdoch,

     

    Kilbowie Kelt, Sipsini, LostinBonnybridge, Frantic07, Mrs Frantic07,The Good Ship Celtica, Jungle Jim, Bamboo, Neganon2, Swatson neil lennons 6ft skinny twin, Gourockemeraldbhoy, Thebhoyfromoz and thebhoyfromoz jnr, Houl yer Wheest, BognorBhouyle, Tommysbhoy,

     

    The Red Telephone, Youssarian67, Stairheedrammy, Sipsini, Lennybhoy, Vale Bhoy,

     

    Troon Tim, Troon Tim Jnr, Leftclick, Mrs Mighty Tim, SeanyBhoy, SarahGhirl,

     

    The Belfast Belle, Tombhoy, Catman, EasterRdDave, LifeofBrian CSC,

     

    Setting Free the Bears, Fred C. Dobbs Jnr, St John Doyle, Mrs St John Doyle, CeltFish, Lionroars67, BigGeorgeFanClub, Wee BGFC, PrincessBGFC, Mrs BGFC, Senor Pablo Diabo, Fordon, The Melvin Gael, Celtic1member1vote, Big Swee Paul, the Lurker

  11. Gordon_J backing Neil Lennon

     

    12:31 on

     

    17 April, 2013

     

    How exactly did the assets of Rangers FC (in liquidation) end up with Sevco Scotland Ltd? That’s the key question for me – although the issue of who exactly owns what is also important.

     

     

     

     

    I find it easiest to imagine a man who may or may not bear a passing resemblance to Charles Green with table, three cups and a pea. He shuffles them around and then asks people to guess which cup the pea is under. It’s a living.

  12. Lord Nelson, Lord Beaverbrook, Sir Winston Churchill, Sir Anthony Eden, Clement Attlee, Henry Cooper, Lady Diana, Rangers Football Club, vi har slått dem alle sammen, vi har slått dem alle sammen [we have beaten them all, we have beaten them all]. Maggie Thatcher, can you hear me? Maggie Thatcher […] your boys took a hell of a beating! Your boys took a hell of a beating!

     

     

     

    All deid…….

  13. Dontbrattbakkinanger on

    Mark Hately delighted at the signing of Prima Facie.

     

     

    -further evidence that the Murray Park conveyor belt of talent is running sweetly.

  14. Dontbrattbakkinanger

     

    12:34

     

     

    A great question, and one which Auldheid is very good at answering. If he is too busy I will offer a poor man’s synopsis of what he said recently.

  15. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    A Ceiler Gonof Rust

     

    03:12 on

     

    17 April, 2013

     

    BobbyMurdochsCurledupWinklepickers

     

     

    Whats the line up for your BMCUWP Hootenannay then?

     

     

    Who’s signed up?

     

     

    Add your name if you’re coming, I’ll start.

     

    ………………………………………………………………

     

     

    ACGR

     

     

    ~~~~~~~~~~~ ~~~~~~~~~~~~ ~~~~~~~~~~~~

     

     

    ACGR,

     

     

    Just to allay fears of anyone thnking they are not invited,a wee sesh is planned in Glasgow city centre on the 27th April,from roughly 2pm.

     

     

    If anyone wants the details,please contact me on

     

     

    bmcuwp@gmail.com

     

     

    The guest list already looks rather interesting,but as I don’t have the e-mail address for even those I have previously met,it can improve!

  16. Doc

     

    I was at the FAC rally along with Mrs and Dotter.

     

     

    After reading that article the sun has come out……..in my wee world.

  17. I can confirm the following, Doc, Miss Doc, Cowiebhoy, MWD, Mini MWD, CelticRollerCoaster, Mrs CRC, CaityRollerCoaster, DeccyRollerCoaster, HamiltonTim, Minx1888, The Boy Jinky, Jobo Baldie plus mini, Roy Croppie, Ten men won the League, Palacio67, Mini Palacio67, KevJungle, EmbraMike, Neganon, OldTim67, FourGreenFields,FourGreenFields Jnr(16), FourGreenFields Jnr(10), Mouldy67, BJMac, VMhan, Che, VoguePunter, Gordon 64 and Willy O ,the bold Fenian Mhan (lurker), MightyTim, Iki, Praecepta, FanadPatriot, Johann Murdoch,

     

    Kilbowie Kelt, Sipsini, LostinBonnybridge, Frantic07, Mrs Frantic07,The Good Ship Celtica, Jungle Jim, Bamboo, Neganon2, Swatson neil lennons 6ft skinny twin, Gourockemeraldbhoy, Thebhoyfromoz and thebhoyfromoz jnr, Houl yer Wheest, BognorBhouyle, Tommysbhoy,

     

    The Red Telephone, Youssarian67, Stairheedrammy, Sipsini, Lennybhoy, Vale Bhoy,

     

    Troon Tim, Troon Tim Jnr, Leftclick, Mrs Mighty Tim, SeanyBhoy, SarahGhirl,

     

    The Belfast Belle, Tombhoy, Catman, EasterRdDave, LifeofBrian CSC,

     

    Setting Free the Bears, Fred C. Dobbs Jnr, St John Doyle, Mrs St John Doyle, CeltFish, Lionroars67, BigGeorgeFanClub, Wee BGFC, PrincessBGFC, Mrs BGFC, Senor Pablo Diabo, Fordon, The Melvin Gael, Celtic1member1vote, Big Swee, The Lurker, Matte,

     

    Mrs Matte, Miss Matte, Dim Sam,

  18. SmashingMilkBottles on

    MattE

     

     

    wur you no’ at yer holiday home in the sunshine runnin’ up extravagant bar bills and leavin some other poor basturt tae pick up the tab?

  19. More of the same paul . like everything that’s gone on since this whole newco sevco rangers whatever began THEY WILL WRIGGLE CLEAR . And get off scot free . Before you posted the new article , I was watching gg video of George Galloway calling it as it is with regards thatcher , had we had this man fighting our corner or should I say the rest of Scottish footballs corner . then the truth would have been outed , and the facts laid bare for all to see . But that’s not the way we do things , we let the laptop loyal peddle there version , the version that the rest of Scottish footballs mad ,and weve all got it in for ra gers , We are all ( every other club in Scotland ) dealing with a bag of weasels here . The greatest legal minds in the country couldn,t keep up with the amount of players in this saga . It will only end when they are back entered in European competition with the big bucks ,where everyone knows they must be to survive, to the detriment of all the other clubs who played it fair and square . Whatever rangers want , rangers will get . And I bet many on here know that too .

     

     

    jimtim

  20. The Honest Mistake loves being first on

    DBBIA,

     

    I just asked a friendly fellow at the SFA that question. He says that until the Campbell Ogilvie finds out information that invalidates their license then the license can’t be revoked.

     

    Campbell is currently hiding in a box with no communications to the outside.

     

    I believe sandy Bryson was the helpful chaps name.

  21. BMCUW Said:

     

     

    “a wee sesh is planned in Glasgow city centre on the 27th April,from roughly 2pm.”

     

    ….rougher at 4pm ,evn rougher at6pm and roughest at8pm. After that, no variation of `rough` is good enough.

     

     

    JJ

  22. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    STARY PLOUGH

     

     

    JIMTIM is what is known as a pessimist,a “glass-half-empty” kinda guy.

     

     

    This approach to life sometimes brings him a wee ray of sunshine,a bit of good news.

     

     

    Us poor sods,on the other hand,only ever get a boot in the wotsits when we least expect it.

     

     

    I’m thinking of becoming a pessimist too……..

  23. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    JUNGLE JIM

     

     

    You better believe it….

     

     

    BTW,you have mail.

     

     

    Sorry for the delay-just back from work.

  24. BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS

     

     

    There’s a lot to be said for the occasional boot in the wotsits when you get to our age, let’s ye know in what condition the auld tackle is..

  25. I wish Craigy’s barrister had used a different expression from “prima facie”. It’s a piece of legal Latin which we have heard too frequently over the last few years.

     

     

    The bad news for Green is that this is the green light for litigation to commence. I thought it was interesting that the LSX announcement referred to Law Financial Ltd as having an interest in commercial litigation funding. This suggests to me that the costs of any claim against The Rangers International, or whatever they are calling themselves these days, will not be costing CW a brass farthing. it is likely to be the commercial equivalent of no win no fee, although I expect the costs will be underwritten in some way.

     

     

    So, no barriers in place to prevent an expensive and damaging court action. I am looking forward to some embarrassing revelations from Philmac and others.

     

     

    The season is just beginning.

  26. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    STARRY PLOUGH

     

     

    See-yer halfway to making me a pessimist,at least you made me laugh!

     

     

    Offski,bed…..

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