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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I once knew a Patrick who had a season ticket at Ibrox. His full name was Patrick Murphy. His auld dear got him a brick at Ibrox and she got a phone call asking her if it was a wind up. She had to quote his season tciket number to prove he was a genuine Rangers supporter!
LB
tomtheleedstim @11:04 “I remember one baby girl in the papers a couple of years ago was called Ibroxia.
I was left wondering if her twin sister was called chlamydia.
That wee girl might have to change her name to Sports Direct Arena when she’s eighteen.”
Or Asda.
celtic_first
10:30 on18 April, 2013
A bhun in work callledhis son Mason and proceeded to get a bold tattoo of his son’s name on his arm..
No need for funny handshakes for him anymore.
“If you want a picture of the future, imagine a boot stamping on a human face—for ever.” George Orwell on the state.
A remarkable woman passed away today.
http://www.bbc.co.uk/news/uk-england-merseyside-22196415
tomtheleedstim
11:04 on 18 April, 2013
PMSL
Any mention of the ongoing shenanigans at Ipox in the Scots MSM today Bhoys? Meanwhile I am bracing myself as I am about to be engulfed in a sea of Orange bunting and flags. It’s queens day at the end of the month and in preparation the Netherlands is being bedecked in Orange, the area of the city where I live Is somewhat reminiscent of East Belfast in July albeit without the hoards of overweight knuckle draggers .
It doth vex my eyes sorely
PatrickSarsfieldkickedyourassCSC
celtic_first
10:30 on 18 April, 2013
Ah, well…I suppose they are FREE to do so…..I’ll get my coat (apron?)
sipsini
The five stars usually denotes them as bhuns these days! Common as muck those tatts!
LB
Long time ago on a teaching placement in Possil I had a Diana Ross, Michael Jackson and David Cassidy all in the same class.
It was dramatic.
LiviBhoy
11:06 on
18 April, 2013
I once knew a Patrick who had a season ticket at Ibrox. His full name was Patrick Murphy. His auld dear got him a brick at Ibrox and she got a phone call asking her if it was a wind up. She had to quote his season tciket number to prove he was a genuine Rangers supporter!
===
One of the Shankill Butchers was named Murphy.
Suspend the rules so a masonic EBT recipient ex hun can step in and make a few executive decisions, yeah that’s whats needed.
oglach
Someone should have told them over at Sevconia!
LB
Anne Williams, Requiescat In Pace
Lenny Murphy, of Shankhill Butchers infamy, became what was termed a ‘SuperProd’ as a consequence of his Catholic sounding surname. It was suspected that the brutality and ferocity of his attacks on the Nationalist had their roots in his need to prove himself to his accomplices.
Massive explosion at fertiliser factory in Texas, near Waco. Many casualties.
May Anne Williams rest in peace, hopefully now she’s at comfort with her son.
I see Aberdeen are closing part of Pittodrie to reduce the capacity. Seems rather short sighted – why not have cheaper tickets or give them away to schools?
The Moon Bhoys @11.04
I know Stephen McManus’ family well. I have NO idea how that view became attached to him because Steohen is, was and will always be an out-and-out Tim. His maternal grandfather will be seriously upset if he gets to hear of this.
Gordon_J backing Neil Lennon
Why not give us the Richard Donald Stand (Beach End) again?
We would fill it no problem. That section we are in is freezing.
LB
Square slice is best on an ender aff a plain loaf with a dib dab of brown sauce. imo
oglach
11:12 on18 April, 2013
Served my apprenticeship in barr& strouds with a Paul Priest…he played the drums in his local flute band.
A bigoted little sh*t.
TTT
That friendly v the Yanks at L T tonight kicks off at 7 btw.
Celtic-First……..
……..shockerooni!
HH.
TTTT ,
hopefully. We need all the help we can get re funds. It’s been a tight year this year so anything helps.
HH
Sanna
adi_dasler
10:59 on
18 April, 2013
Iki
Gilmour’s main gripe was the 11-1 voting
======
I based my post on what he said at yesterday’s media conference.
He said that it was the 12/12/18 “primarily”.
When he was reminded that he recently argued strongly on BBC that the 11-1 was his main gripe, Gilmour insisted that was incorrect and that he had only been reacting to the contributors on that BBC Radio show who had emphasised that matter.
Sevco share price has hit 60p. Will wee see it drop further today?
ASoD
What’s been its lowest price?
Hamiltontim, 11:18
I’ve heard that story often but I doubt its veracity. It has always struck me as an English journalist trying to find a reason he thinks his readers may understand rather than having to try to explain naked sectarian hatred.
Ulster Loyalists kidnapped, tortured and mutilated innocent and randomly selected Catholics since the inception of the state. There were gangs operating in Belfast in the 1920s and 1930s (castration a speciality) and British agents John McKeague and Albert ‘Ginger’ Baker employed the same tactics in the early 70s.
It suited the British to ‘terrorise the terrorists’ by either running such gangs or clearing the way for them and was all part of Frank Kitson’s paranoid mindset.
If you don’t know of McKeague look him up – his killer turned out to be a British agent as well. What a house of cards that story is
Dunno if this has been mentioned before, but one of the knuckledraggers has joined some dots of FF…. Interesting…
‘Edelson was a director in the Worthington Group plc till 6 July 2010.
Worthington Group plc is the source of the Jerome Pension Fund monies that were found in the Collyer Bristow client account and which are the subject of the court battle between HMRC, Jerome Pension Fund and Merchant House Group (Whyte) iirc (but stand to be corrected) Duff & Phelps dropped RFC plc’s claim for that money in order to pursue the larger £25m claim against Collyer Bristow.
The Worthington Group plc is 18.29% owned by Liberty Capital Ltd (Whyte) and 53.36% owned by Regenesis Holdings Ltd who as well as being owned by Whyte’s long time associate Wulstan Early (brother of Aiden) were also the recipients of £250k from RFC plc (the Banstead Athletic deal).
Edelson is a former director of Regenesis Group Ltd. (coincidence? probably not)
Edelson of course is linked to Green through the flotation of Sheffield United when he stepped down from the board the very day Green was appointed.
Oh what a tangled web they’ve weaved.’
I bet the days of Sevco shares being valued at 93p seem so far away for some…
asonofdan
11:33 on18 April, 2013
keep the updates coming
as they said during the war
torpedo…………..ffs its old the audited accounts;-))))))
jam67
LiviBhoy
I knew a Pat Murphy who was a hun , he came from castlemilk.
Anne Williams, you fought a great fight.
RIP
hamiltontim
11:12 on
18 April, 2013
Long time ago on a teaching placement in Possil I had a Diana Ross, Michael Jackson and David Cassidy all in the same class.
It was dramatic.
Was it Hawthorn primary by any chance?
Hamiltontim
It keeps going down, so right now it is at its lowest.
Spooky
@ 70 people die in an explosion in Waco on 18/4 /2013 .
@ 70 people died in the Siege of Waco on 19/4 /1993..
The factory which exploded yesterday manufactured materials similar to that used in the Oklahoma City bombing .
ASonOfDan
It was down to 58.50 last week.
Bad boys at it again?
Wulstan??????????????????????
What a brilliant name.