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SFO, IPO, hell will freeze before SFA act

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An appropriate course of action when you are the chairman or a non-executive director of a PLC when a fellow director and, until last week, chief executive, has been reported to the Serious Fraud Office for matters in connection with the company, would be to immediately contact the accuser asking for full and immediate disclosure of information which could materially affect investors and the company’s trading position.

The “compelling evidence that Messrs Green and Ahmad received a letter before claim in December 2012, having received previous correspondence, and chose to ignore it” sounds like a signed-for receipt.  If this was received before 22 December, the date of Rangers International FC PLC’s IPO, it is of critical importance that the board ask for sight of the evidence, irrespective of what Mr Green says about its existence.

This season’s Third Division has nine days to run and it would inconvenience many if these matters were brought to a head before then, but the duty of directors is clear; they cannot postpone attending to the interests of investors until after the football season.

Lawyers acting for RIFC PLC should politely request full disclosure from the other party, without delay.

Some in the SFA may be tempted to attempt another Grand Plan to prepare for and accommodate and almighty collapse at one club.  Grand Plans don’t work in these circumstances; the last one led to the current Lawyers at Dawn scenario.

We await the SFA acting in relation to RIFC PLC’s claim that Sevco 5088 Ltd, a company Craig Whyte is a registered director of, is part of their group.  This is in direct contradiction to an earlier representation made to the SFA, and breaks a condition of their membership of the Association.

Current SFA president, Campbell Ogilvie, is a former Rangers director.  My prediction is that hell will freeze over before he allows the SFA to act on this matter.  The SFA shall wilfully ignore its own rules.
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  1. blantyretim @ 07:36 and twists n turns @ 07:42, many thanks for the reply’s re Fiji, top bhoys!

     

     

    O’Reilly’s: Irish bar it is.

     

     

     

    V

  2. I wonder what will be the straw that breaks the camels back?

     

     

    They have been holed below the waterline by numerous events, they are crawling to the end of the season. I can only surmise the SFA/SFL have not asked any questions because the fall for out them if the Huns don’t see out their fixture list would be tsunami inducing.

     

     

    I think the coupe de grace may be that the ‘Loyal’ will refuse to take up their season tickets.

     

     

    Now THAT would be such sweet sorrow.

  3. TheOriginalSadiesBhoy on

    Wee minger

     

     

    From last blog. Many thanks for clearing that up. It appears they’ve all got previous. It must be part of the Job Spec.

  4. lionroars67

     

     

     

    12:18 on 25 April, 2013

     

     

     

    Can’t stop laughing ‏@corsica1968

     

    Is one man they should listen to :))

     

    ———————————-

     

    Vhman

     

    Top of the league :))

  5. Paul67

     

     

    “……..Current SFA president, Campbell Ogilvie, is a former Rangers director. My prediction is that hell will freeze over before he allows the SFA to act on this matter. The SFA shall wilfully ignore its own rules.”

     

     

    You have that right, the SFA are not fit for purpose, disband the SFA.

     

     

    V

  6. Pogmathonyahun aka Laird of the Smiles

     

     

    ah you are quite close to bielefeld , paderborn, osnabruck . do you go see any of them play ? and more importantly whats the beer like up there :)

  7. Get the boul’ Sandy on the case…………………………..the far-famed scourge of the finer details!

  8. NatKnow

     

     

    Great story about Wittgenstein. I heard something similar yesterday about an exchange between a snooty professor and an undergraduate, but I’ll tell you it later, when the blog quietens down a bit.

  9. Paul

     

    Do the member clubs not “own” the SFA?

     

    Are they able to convene an EGM and vote to declare the SFA unfit for purpose?

     

    Who oversees and audits that they are compliant with their own and UEFA rules?

     

    It’s time the club chairmen from all the leagues got together and shone a strong light into dark dusty corners.

  10. Vmhan………I’ve played 7’s rugby v the Fiji national side………..Like tackling ebony trees which are moving at a great rate of knots.

  11. Not being Childish but why do we (celtic) bother answering the SFA when sevco don’t even bother acknowledging them. Surly we just ignore them as well and use the old argument of “you dont say anything to them”. They are clowns and should be treated as so.

     

     

    KLV

  12. The SFA will do SFA as long as the member clubs, who have the ultimate power, choose to do nothing.

     

    The clubs can insist the office bearers take action on the continuing soap opera in govan.

     

    The clubs remove the office bearers if they suspect they are ignoring what’s going on or worse still colluding with the member club who appear to have been liberal with the facts in order to obtain a license last summer.

     

    We have got to assume that the member clubs are happy with the office bearers.

  13. Still on German theme.

     

     

    Which manager led the west German team out to a world cup final with his flies undone?

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