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 notice that our Hero CW is a confirmed director of Sevco 5088
For the great unwashed such as myself, it raises three questions
• Did Duff and Duffer sell the assets of deadco to Sevco 5088 or to Sevco Scotland?
• When did CW legally become the director of Sevco 5088, Was it when he signed the leaked document or when it was registered at companies house a few days ago?
• If CW was legally a director how was Charlattan Green able to shift the assets without his consent/agreements?
Of course this raises MUCH more than these three questions but I think the answer to these 3 questions will determine the extent of the damage.
CW will settle out of court
CG will get his money back plus a sweetener
The extent of CG settlement will be spread over 25 years or something of that nature
The Sevco licence terms were broken, but nothing will happen since sevco never gained a sporting advantage blah blah
Some other hun will pick up the mantle and carry on with the current deal
Unless of course they go into administration first. Please……
Can everyone who is for lists on CQN please add your name below, copy & paste
LISTLOVERS
MWD
Gordon_J
Do bookings in the League cup count?
HH
MWD, you’re on the list:-)
Did you get a chance to read the article?
Funny thing is Gilmore claims to be speaking for the majority of fans.
Has he done a survey? Has he asked everyone? Has he even asked every St Mirren supporter?
http://www.youtube.com/watch?v=nEH9T2sxyvM
One of the best Banners ever seen at Celtic Park
5 years ago tonight.
Did it get confiscated?
HH
LISTLOVERS
MWD
Oskar Schindler
Bada Bing, just seeing your mail now. Work in Dublin City centre myself. Yeah, Templebar is a Tourist Trap and only good if you want a late night drink. The trad sessions in some of the pubs there are pretty good though, if you are into that. Some of them are a bit cliched though. If you head up Dame St towards Parliament St, there’s a wee pub called Peadar Kearney’s. Usually a good pint of stout in there and a lot cheaper than Templebar. They might have a bit of music on in there as well. Further on up again is another good auld boozer called Brogans. If I could get outta work I would be with ya!
Marti
traditionalist88,
Hadn’t thought of that – but the only LC tie I can see Kayal playing in this season was the 4-1 v Raith and he wasn’t booked.
“Mail” , I meant to say post!
Marti
Can I propose we keep the lists but refrain from putting names on the lists?
anyone who agrees don’t put your name below, anyone who disagrees likewise.
Twomacaroons
Maybe gilmor has a list?
LISTLOVERS
MWD
Oskar Schindler
Dmitri Mendeleev
I think we need to remember who BDO are working for – HMRC. Thus far they have played a straight bat and shown no intention of compromising to ensure the survival of Rangers/SEVCO/The Rangers etc.
There are only two things certain in life and all that.
Che.. Touche :-)
Can I ask why a list of those who attended FAC rally from CQN is being compilled?
Gordon_J
Kayal was booked at Arbroath away according to the SFA website.
emusanorphan
To annoy the people on here who don’t like lists :-)))
LISTLOVERS
MWD
Oskar Schindler
Dmitri Mendeleev
Santa Claus
“There’s no such thing as society.” – Margaret Thatcher, 1988
“There’s no such thing as Margaret Thatcher.” – Society, 2013
LISTLOVERS
MWD
Oskar Schindler
Dmitri Mendeleev
Santa Claus
schindler
Pub Info request.
Will be in Manchester city centre in a couple of weeks. Never been before. Can anyone suggest good drinking/eating pubs?
Canny read
Marti S-traditionalist said Kearney’s too, that’s where i am €4 any pint,as good as you will get here.Racing and betting on :)
What have Santa and Mendeleev got to do with lifts?
Wait a minute………………….!
The blogger formerly known as GM
You make a fair point about BDO, but so far they have been very quiet
• Duff and Phelps didn’t act as we expected
• The tax appeal FTT didn’t act as we expected
• LNS didn’t either
Having seen this, I do have some doubts about whether BDO will break the mould or not
emusanorphan
15:52 on
17 April, 2013
All being name checked in article for next CQN magazine
Given the wide scale offence caused to some sensibilities regarding people talking about fitba coupons and horses, and the solution arrived at for that heinous offence, would it not be more appropriate for these lists to be posted on end of the previous article??
joe filippis haircut
13:59 on
17 April, 2013
In layman’s terms, they are fecked…LOL……..and they have been trying, by dubious, possibly illegal means, to keep a dead duck ‘kicking’…….they are reaping what they sowed……patience, young mhan……keep your ‘hair, on…….LOL
Rieperman
Spat my tea out there!
HH
LISTLOVERS
MWD
Oskar Schindler
Dmitri Mendeleev
Santa Claus
schindler
Moses
THE Glasgow Football Association is delighted today to announce that the City of Glasgow Cup Final will take place on Monday, April 29, 2013 at Firhill Stadium, with a 7pm kick-off.
Celtic will meet Rangers in the final of a tournament which stretches back to 1887 and is actually the second oldest trophy to be played for in world football.
The event has received fresh momentum in recent years having been re-introduced as an U17 tournament.
One for the GB to attend.
Franz Liszt
LISTLOVERS
MWD
Oskar Schindler
Santa (checks ’em twice)
LISTLOVERS
MWD
Oskar Schindler
Dmitri Mendeleev
Santa Claus
schindler
Moses
Noah
LISTLOVERS
MWD
Oskar Schindler
Dmitri Mendeleev
Santa Claus
Julio Iglesias
LISTLOVERS
MWD
Oskar Schindler
Dmitri Mendeleev
Santa Claus
Julio Iglesias
Roseanne Cash
bankiebhoy1
15:11 on 17 April, 2013
“…best one I saw was in the bogs at Glasgow Uni library – next to the Bog Roll it said
“Arts Degree – Please take one”
and some of us did.@
“Be back in 5 minutes” – Godot (an Arts graduate will explain)
Brahms and Liszt