SFO, IPO, hell will freeze before SFA act


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. WDH


    I have passed it when in a cab, checked out their website, but never managed to get along as yet.


    The weans mean less chances to eat out.


    I have managed to get to two great steak houses with great food and history attached, Peter Lugers and Sparks. Old School steak houses!!

  2. Paul67






    12:38 on


    25 April, 2013


    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.




    I think the member clubs WERE happy for the SFA not to suspend/ban/refuse membership to a club with so many paying supporters.



    However even the paying supporters of Sevco are now questionning if their loyalty is just being milked by the lkes of CG, CW and now AmcC and WS and could walk away. Who at Sevco now has the credibility to convince a suspicious support that they are there for them and not themselves?



    There comes a tipping point when everyone accepts Rangers are indeed dead or at the very least comatose and unlikely to be the source of income into the game (most of which fed Sevco anyway)so their departure becomes not the end (it never was) but a realignment.



    Denial, anger, bargaining, depression and acceptance, you can plot the stages of grief at the loss of a Scottish “institution” and it is all running naturally.



    The SFA if they continue to ignore events, refuse to suspend membership and grant a licence for next season are taking a risk with whatever division Sevco play in. They are taking a risk with any TV contract to televise Sevco games. The losers if Sevco do go belly up are the other clubs. Will the SFA indemnify those clubs against the cost of such an event? Will the clubs ask for an indemnity from the SFA as it is them who are taking the risk the league’s clubs have to bear?



    I would if I were a club chairman. Put a figure on it and see how the SFA resapond.

  3. ernie lynch



    Thanks Ernie, everything clear now. Well probably clear as it’ll ever get

  4. Kayal33



    16:08 on 25 April, 2013



    ‘The group will NOT be singing with the Green Brigade as ‘Section 122′ are completley AGAINST politics in football.’





    That’s the bit that made be assume it was a wind up.



    I’m still inclined to that view.

  5. ernie lynch



    If the GB sing Hail Hail this mob aren’t going to join in? Madness


    We are all there to support the team.




  6. PJ – Been to Peter Lugers, Old Skool indeed, in Brooklyn?


    Theres a great Pizza place near there too. local but the kind people come from miles queue around the block, can’t remember the name but t’s within sight of the River cafe just up from water street.

  7. Dubaibhoy-"If I signed off the accounts it has been in good faith." on




    I smell sh!te…

  8. Can’t stop laughing ‏@corsica1968 3m


    @corsica1968 sorry folks, to clarify: said other day I had some info re Sevco shares – rumour in City is King has significant shares NOT TU.



    Can’t stop laughing Can’t stop laughing ‏@corsica1968 7m


    DCK is Dave Cunningham King, former director of RFC plc and current holder (allegedly) of over 12% shares in RIFC plc thru client accounts.

  9. Whilst a £100 reduction in the price of an adult season ticket is to be welcomed, I’m still holding off renewing until I see how things pan out with the monkeys.


    The lack of any punitive action from the SFA leaves me to wonder if there is any crime sevco could commit that would spur the authorities into action.


    What are all the clubs thinking?


    If I thought my club were standing up for justice and integrity in the game then I would renew in an instant, and that would have been with or without the reduction.


    Surely the clubs can’t stand by and watch this farce much longer.


    In all conscience, I don’t think I can renew as things stand.

  10. The Moon Bhoys on

    We all wondered why on earth did masonic EBT recipient Campbell Ogilvie not resign when the EBT scandal was at its peak, now we know, he is needed there long term to provide long term protection for Sevco.

  11. South Of Tunis on

    starry plough @ 16 12 .



    George Perkins !..



    Mrs S of T’s campaign to have her favorite choons all kept in the one place [ ” so that I can find them “] included a plea for George’s great —– I’m So Glad Your Mine ..



    I did the deed —- I hope I don’t live to regret it.

  12. theBHOYfromU.N.C.L.E on

    Had a wee 15 mins shut eye there……………think I got out the wrong side of the couch




  13. lionroars67


    Looking like Corsica1968 might be right all along


    King picking up the pieces .But what will he be left holding :))

  14. Steinreignedsupreme on

    Day Two



    Craig Mather’s Diary 2013


    (Previously Craig Whyte’s Diary 2011 and Charles Green’s Diary 2012)



    Thursday, 25 April 2013



    Media House called to confirm my statement about the club having no debt was published in several Sevco fanzines this morning.



    But it’s not all work, work, work. I bought my first pair of brown brogues. Truth be told (better not make a habit of that lol) they are cutting the ankles off me, but hopefully I’ll get used to wearing them soon.



    I also received my first fan letter today. Some guy called Christian Graham – he requested a signed photograph.



    Creepy or whaaaat!!! But after discussing the situation with Craig and Charles, the advised me to send Christian a signed picture as it will help to win over literally scores of Bears in an effort to shift some season tickets.

  15. Can’t stop laughing‏@corsica19682m


    @GC61967 Insolvency law, but does that apply to 2nd resurrection? You think anyone will stop them this time? King already cleared by SFA.

  16. timbhoy2



    15:38 on 25 April, 2013……



    i see tb2 at his usual moan. I get fed up with his moaning all the time.i know about the insults he has had ,but its about time he calmed down a bit.i just get fed up with all the negativity he spouts all the time.

  17. Dontbrattbakkinanger on

    I’m committed to the sect 114 diehard grumblin’ group.



    Is sect122 the sevco CQN glee club?

  18. kevinlasvegas on

    There wont be a long term by the looks Son Of Tunis.lol . With regards to Neil complaining about SFA timbhoy2 i think he has a right to moan as we have been the best team in the country by some distance (this season) 8/10 seasons doesn’t matter and should matter to the current season, He moans about the sfa’s action same as we do because he knows we are treated differently and i think he has a right to moan and keep moaning as sfa have no time for him or his team. So for me, Neil keep on moaning son because your right everything connected to the sfa is a JOKE.




  19. BB. Brooklyn indeed. I do not know the pizza spot, but have been told about it. Lugers was great. Old school, do not suffer fools, cash only, same recipe of German potatoes from when it opened. Quality for carnivores.


    Sparks, the other one, UES 50s. Sicilian old school. No2 steak house in city after Lugers. Infamous for being the location of the last famous mafia hit.





    Will have to get there. Maybe when Bankiebhoy is over we can do a CQN review!!



    CQNZaggat csc

  20. kevinlasvegas on

    lol Steinreignedsupreme day two. you should keep doing that, funny. Like the mark hatley……… is like a new signing, Repetitive humor is the best, “good luck we’re all counting on you” Airplane still cracks me up.




  21. Singing section: There is a section in the JS Stand where songs/chants are already initiated. Not as large & vocal as GB but good nevertheless. In fact there have been (a few) occasions where the GB has done the reply chant.

  22. Sevco shares drop 2.5% bid price now 57p



    Someone just sold over a mil of them

  23. kevinlasvegas on

    nearly half price shares from the launch. Is this another world record for them?





  24. Sevco shares drop 2.5% bid price now 57p



    Someone just sold over a mil of them



    pennies worth that is




  25. South Of Tunis



    The things we do for love, I chopped up my Dj table and made it into a nappy changing station for Baby Starry!!



    Just dug out Sad Soul, great comp, currently wafting out the front door into the sunshine is Rainbow Road, lovely..

  26. whitedoghunch



    16:32 on 25 April, 2013



    Ah!! I have been a couple of times, last year.


    Its Scottish menu was getting great reviews and by all accounts the place is busy and doing well. One of the few authentic Scottish menus in the city.


    At night they attract a young white corporate crowd with $$$ to spend. They can be difficult with staff. I have not been down there for a while though, so do not know how it is doing. If I do I will ask for Mary.

  27. starry plough @16:46 “The things we do for love, I chopped up my Dj table and made it into a nappy changing station for Baby Starry!!”



    Does that mean you were a crap DJ?

  28. So the huns best case scenario is being ln the hand of D king & Myth.




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