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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. Gene, VMhan, I tried just getting people to add to the post, it got messy, so got them to post my name and a note of their attendance, scrolled through posts, saw my Nom de Blog, my name, same thing, and copied them to the document, then occasionally updated the blog.

  2. Could everyone who wants to ban lists on CQN please add their moniker(s)

     

    to this and repost……..

     

     

    Ta

     

     

    ;)

  3. The Boy Jinky on

    Doc

     

     

    Warned you last night the list haters would be on your case… less than 24hrs im proven right again. . But did you take heed …. no no … no no no no… no no no no… no no theres no lists :)

     

     

    Vmhan

     

     

    Surely son of vmhan should be vmhansbhoy or jonny the ozzie bhoy from the blackpool shammie or…. ack you get my drift ,)

  4. The Boy Jinky on

    Bankiebhoy

     

     

    I saw a picture of some washroom artists work yesterday which read

     

     

     

    I hate :

     

     

    1. Graffiti

     

    2. Irony

     

    3. Lists

  5. No wonder The Cosa Nostra went legit : the way a great deal of business is run these days is nothing more than completely legitimised crime.

     

    The banking sector going nuclear is the most glaring example of this, but there is so much more in the way of sharp practices, all legally okayed by a dubious judiciary. The old school tie brigade and plethora of masons and assorted nod ‘n’ a wink clubs.

     

    And who pays for their misdemeanours? The public. They may throw the odd sheep to the wolves with minimum punishment and a golden parachute for being the sacrificial sop to keep the punters thinking that there is an equtable justice system in place.

     

    Yeah, they think we’re still that gullible and subservient.

     

    And I guess the sevcinians are; they’re being fleeced and taken to the cleaners simultaneously, making them the best washed sheep in town.

     

    What a sound they’ll make when even they realise what’s been done to them.

     

    “There’s one born every minute.”, said someone of suckers.

     

    And that is the lot of the sevconians. Bled dry by expert con-men. No wonder they’re zombified.

     

    Baaa…..

  6. TBJ

     

     

    :)))

     

     

    …best one I saw was in the bogs at Glasgow Uni library – next to the Bog Roll it said

     

     

    “Arts Degree – Please take one”

     

     

    …still makes me laugh…………………

  7. South Of Tunis on

    bankiebhoy1.

     

     

    Graffito next to the Bog Roll ..?

     

     

    Seen at the LSE ———

     

     

    ” Enoch says color me brown “

  8. !!Bada Bing!! on

    Bankiebhoy-made me laugh there,agree with Gordon J,would be better putting lists on attatchments.

  9. Hun on 6 music right now being given the run around on a feckin music show…ba ha ha haaaa!

     

     

    Radcliffe (or Maconie): So do you support Stenhousemuir then?

     

     

    Hun: Erm naw ah support a bigger club.

     

     

    Radcliffe: Oh, who’s that then?

     

     

    Hun: Um…..Glasgow Rangers

     

     

    Radcliffe: Oh well that will be exciting for you next year cause you just got promoted to Stenhousemuir’s division didn’t you? So you’ll have a chance to play your local team. That’ll be nice won’t it?

     

     

    Hun: Yeah well we don’t know what division we’ll be in cause..yada yada yada blah blah blah!

     

     

    Isn’t life just wonderful when you turn on your favourite music show and they still find time to wind up the huns! :)

  10. Steinreignedsupreme on

    Luckily for Sevco, “Walter” was appointed to, ahem … ensure everything was above board.

     

     

    He’s played a blinder…

  11. eddieinkirkmichael on

    Can I just say that while I would hope BDO would be taking a keen interest in current events re the aquisition of assets from RFC to SERVCO 5088/Servco Scotland.

     

    I would ask posters to look at how BDO handled the liquidation of Farepak.

     

     

    What appeared to be a “prima facia” case against the directors of Farepak for fraud ended in BDO making £m’s in costs and creditors getting pennies in the £, in fact BDO costs were more than double than the amount of cash handed out to creditors

     

    .

     

    No directors were ever charged as a result of inquires by BDO

  12. Could everyone who wants to ban lists on

     

    CQN please add their moniker(s) to this and repost……..

     

     

    bankiebhoy1, ASonOfDan.

  13. !!Bada Bing!! on

    Could everyone who wants to ban lists onCQN please add their moniker(s) to this and repost……..bankiebhoy1, ASonOfDan.Bada Bing

  14. !!Bada Bing!!

     

     

    Marc certainly hasn’t lost it going by today’s offering. God bless him that fair gave me a chuckle!

  15. traditionalist88 on

    Bada

     

     

    If you have tunes thats an argument for staying where you are:)

     

     

    HH

  16. stevietar - putting the turd back into the turd division on

    Thankyou, oglach.

     

     

    So… Prima Facia evidence is just sortof… “evidence”.

     

     

    I’m away for a prima facia sit down.

  17. Dontbrattbakkinanger on

    Marc Radcliffe took over the R2 Folk Show from Mike Harding.

     

     

    Mike was doing a more than adequate job [ including playing a fair number of choons that would not meet with the approval of Pat Nevin] and the change in presenter seemed completely unjustifed, unless it’s to do with Mike’s view that the Mumfords are rubbish.

  18. being said on kds that the F,CELTIC quote from st mirren chief is being denied by our mr lawell, would mr lawell have heard said quotes paul 67 or was it off the record media men who just heard it?

  19. stevietar tell the missus you’re not going for a bevvy but just a prima facie drink.

     

     

    See how long it takes her to down that one.

  20. Dontbrattbakkinanger

     

     

    15:31 on 17 April, 2013

     

     

    Marc Radcliffe took over the R2 Folk Show from Mike Harding.

     

     

    Mike was doing a more than adequate job [ including playing a fair number of choons that would not meet with the approval of Pat Nevin] and the change in presenter seemed completely unjustifed, unless it’s to do with Mike’s view that the Mumfords are rubbish.

     

     

    —–

     

     

    You might like this mhate (if you don’t already have it)

     

    Loads of old podcasts so plenty to listen to.

     

     

    http://www.mikehardingfolkshow.com/

     

     

    HH

     

    /Bishop B

  21. Phyllis Dietrichson on

    eddie – Farepak creditors received 50p in the £. I’m sure deadco’s creditors would be over the moon with that.