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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HT
A big chunk went for 58p each at the end of Monday. Smart City types acted quickly to push it back above 60p from the start of trading on Tuesday and it hasn’t dipped below again yet, but it looks like it will in the course of today.
Dead and Loving it
Someone sold their shares for that price, I dont think the market value was 58.50.
O.G.Rafferty
11:37 on
18 April, 2013
I know well of the antics of Baker and McKeague though I’m not sure of their relevance to my point to be honest.
Of course Murphy’s actions were born out of his vehemently anti Catholic attitude and naked sectarianism but that in no way detracts from his discomfort and insecurities as a result of his ‘Catholic’ surname.
I’ve long held the belief that this was his major driving force.
E B
Whats Steve supposed have said?
On the subject of names. When I worked for BT we had a Chinese guy in London called Ken Kong :))
We also dealt with some folks in India with names like Beena Wanka and Bobshua Unkel :))
Cebu ( Phillipines ) had loads of Virgin Mary’s !!!!!
My blessed mother did a teaching practice in , I think, the Drum….and one of the kids from a “locally flamboyant” family was called …..Wallburger.
Kid you not. (Can’t now recall the other family member names – but every one a total stoatir.)
Glasgow – Scotland With Style!
:)
rest in peace Anne Williams.
justice for the 96.
Raspberry
No it was St Cuthbert’s mate.
Celtic_First
What does this mean then?
@IRISHREBELTUNES: Employer of the year #sevco http://t.co/0R55vWQfYU
Charles is a fine name!
It’s not mine, but the Italian equivalent!
HH!!
Bankiebhoy
I taught a the children of a Mexican fire fighter.
He had twins, they were called Hose A and Hose B.
HamiltonTim
Above my pay grade amigo, but if the price keeps going down, the value of the company will decrease accordingly and investors will want out. It has a market cap of £40.7 million at the moment.
South Of Tunis
11:41 on
18 April, 2013
Er BBC are saying between 5 and 15 dead from the horrendous explosion in West, which is 32km from Waco.
I winched a burd from Airdrie called Fanny Aitken.
HT
HA
HB
HH.
:)
I am not sure wither The Rangers share price tells us a lot as in general the market has fallen I have some shares in a top blue chip UK company and they have lost a quarter of there value over the last few weeks. Buying shares in any single company carries with it a fairly high risk for example R.B.O.S. shares were once very high then along came Fred the shred and brought the company and the shares to there knees.If you are buying shares you must in my opinion see it as a long term investment that will have over the period good and bad times you just hope the good times happen more often than the bad. H.H.
dbbia
One of our local churches in wulstanton bears his name
http://www.saintwulstans.org/public_html/web/community_saintwulstan.php
Ceaser67 @11:53 “I winched a burd from Airdrie called Fanny Aitken.”
Was that her condition before or after you got a grip of her?
I know a dead co club fan called ,anthony timmons…. true story
weeminger @ 11 52
Thanks ——– that’ll teach me not to give any credibility to Sicilian radio news.
i went to school with a
Teresa Green
50 SHADES….
It wasn’t All Saints perchance?
HH
Jude 2005
The Moon Bhoys ealrier quoted him as saying (according to ra media!)
Stephen McManus our ex captain has been brainwashed, its official, how else can you explain his comment yesterday re the return of sevco to the top flight, we need them back because…….
“We have to make people proud of our game”
Completely and utterly bonkers.
jonny.
no mate st julies.
Did this Theresa Green live in Birdston?
Nt
Saw her lately. Big big BIG wumman!! Ill ans u at 9.01pm tonight.
I was at school with a teresa green.
Also a Gerry Ferry who couldn’t pronounce his rrrs.
Miles Lang stayed roon the corner fae me, no idea if he is well endowed.
Tomtheleedstim @ 11:04,
Yesterday I had an hour to kill in Reading town centre, yes my life can get that glamourous.
SO
I pop into sports direct…
RFC kids top for sale…
Label
Liquidated Stock £15.00
LMAO!!!!
For silly Scots names what about
Yehudi McEwan & Genghis McCann
Copyright Billy Connolly
Would love to know if the “Pocahontas McGurk” story was real.
A friend of mine is looking for a freelance PR Consultant.
Contact here if interested:
https://www.facebook.com/pages/Skylark-PR/140256052677978?fref=ts
Here’s opne from the British diplomatic Service during the war.
H.M. EMBASSY
MOSCOW
Lord Pembroke
The Foreign Office
London
6th April 1943
My Dear Reggie,
In these dark days man tends to look for little shafts of light that spill from Heaven. My days are probably darker than yours, and I need, my God I do, all the light I can get. But I am a decent fellow, and I do not want to be mean and selfish about what little brightness is shed upon me from time to time. So I propose to share with you a tiny flash that has illuminated my sombre life and tell you that God has given me a new Turkish colleague whose card tells me that he is called Mustapha Kunt.
We all feel like that, Reggie, now and then, especially when Spring is upon us, but few of us would care to put it on our cards. It takes a Turk to do that.
(Signed)
Sir Archibald Clerk Kerr,
H.M. Ambassador..
There was a Pocahontus in Possil at one time.
Hamiltontim, 11:44
I’m saying that all he did was continue what Baker and McKeague had started a few years previously and that culture was more important than him having an Irish surname.
The surname bit tries to personalise it and remove it from the Loyalist context of the gang culture he moved in. Moore, Bates and McAllister were just as bad as him and their motivation was the same as his
Many moons ago when I worked in Handsworth, Brum, we had a guy come in who was called Jeremiah Forskin. There is also a guy over here, who I encountered in recent times, whose first name is Kermit.
I have taught n in schools where we had a David Niven, Richard Conti, Errol Flynn and Ryan O’Neill.
Chairbhoy @ 12.11
At least the label will still be in vogue next season.