On the face of it, it’s just too crazy. Why would Craig Whyte become a director of Sevco 5088 Ltd, the vehicle his collaborator and Our New Hero, Charles Green, would use to buy the assets of Rangers from the administrators?
What options did he have?
He was, is, and for the foreseeable future, will be… the only show in town.
Whyte had controlling shares in Rangers and a security over Ibrox and other assets, as well as personal guarantees to Ticketus. If he wanted to realise the value of these assets, and protect himself from the consequences the Ticketus action which materialised this week, he was probably the only man at Ibrox last year you could guarantee would not, walk away.
Either Whyte had to find a 100% secure proxy to carry out his actions or he needed controlling interest in Sevco 5088, and Whyte is not a man who strikes me as having many strong trust bonds out there.
The Companies House form which STV produced (again, credit where it’s due) was always going to be fatal to Whyte’s plans, if produced, but it would have been no more than an insurance policy against Our New Hero going rogue.
The form hitting Companies House is not the moment you become a director in a company, that happens as soon as an offer is made and accepted. The company is obliged to inform Companies House within a short period (lazy journalism moment, I can’t be bothered looking it up), but failure to do so only incurs a small penalty fine.
Whyte and Earley were controlling directors and, in case Green reneged on their agreement, they would have documentary evidence to prove it. If Green had performed on demand, they may never have had to produce the document.
A number of possibilities could explain the fact that Green transferred the assets of Sevco 5088 to Sevco Scotland:
He thought that Whyte would be reluctant to incriminate himself further and would simple go away.
He thought he could transform the business and compensate Whyte with the proceeds.
He is simply not smart enough to know how these things operate.
Or he may have a subsequent agreement with Whyte terminating his involvement with Sevco 5088, although this contradicts his evidence to STV cameras earlier this week.
The weeks ahead are likely to be so busy it will be hard to retain focus on the critical path. Green has known for some days that he would have to go and replace himself with someone he can sell as a ‘true Rangers man’ to the most gullible people to walk on hind legs before season ticket renewal time, but even that date will seem a long way off.
Whyte will not budge until and unless his money is covered. We’re talking £18m to Ticketus and no doubt some more for his trouble. In playing the Sevco 5088 director registration form, his Doomsday Card, he has invalidated Newco’s associate membership of the SFA. He has called into question the fair and open disposal of assets by Duff and Phelps and the entire administration process. He even stayed quiet until Green flushed out a fair amount of supporter cash.
Some of the least trustworthy looking people in history, assisted by a supporting cast who were willing to bat away all concerns and warnings for a crumb or two from their table, have trashed every last inch of what we used to know as Rangers Football Club. This was not the act of Green, Whyte and Sir David Murray alone, many authors wrote this story.
On any measure of humanity, the monkeys, the organ grinders, the cheerleaders and their flunkies screwed the Rangers fan in the street to a ridiculous degree.
The next actions are for the stock market and some technically minded police officers as they try to figure out the Great Football Swindle.
At this side of the city we’ve been warning about exactly this link since Green told everyone Craig Whyte was happy to walk away for £2. It was astonishingly stupid for anyone to believe that. Really, really, really stupid. The most stupid thing a whole bunch of stupid people has ever done.
Ever.
Just stupid.
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Stringer Bell
I had forgotten the existence of Rifkind, Forsythe and Ian Lang until this week. Brought it all back. Shower of evil gets.
Forsyth was (still is) a real nasty piece of work.
Doctor Whatfor
Aye
He could find a clue in ra deeds
corkcelt
17:03 on 13 April, 2013
Well said, I’m actually looking forward to tomorrow’s game and hope we take it by the scruff of the neck and forget about our latest Hampden performances.
GlassTwoThirdsFull @17:07 Malcolm Rifkind was know in some circles as the Secretary of State for Edinburgh. Certainly the well heeled of that city benefited enormously from the poll tax. They still do.
Just heard on Clyde that clever and shrewd men to form the commission
Fraser Wishart “Very clever & shrewd men” will investigate Sevco shennanigans. Quite brilliant stuff by man in charge of protecting players.
LOL
Belfast & Glasgow F T Estasblishment!
Mogga taking it on the chin again today. That’s me assuming he’s still at Boro of course.
Electronic Tims @ETimsNet 4m
Fraser Wishart “Very clever & shrewd men” will investigate Sevco shennanigans. Quite brilliant stuff by man in charge of protecting players.
Rifkinds Election Agent and pall Robert Bell sold Thomas Hamilton the guns and ammo used at Dunblane.
Not a lot of people know that!
An independent commission …commissioned by those who are to be investigated ….oxymoron
Buying time to dupe the dupable into buying STs…I hope they do and Greengo fecks off with the dosh
The Huns have owners the deserve
Presumably much cleverer and shrewderer than Murray, Smith and all those other well paid Neds who shouldn’t be there if they aren’t clever or shrewd enough to understand their own business. High farce.
Pual67
Who’s Dat A knocking at da Ibrox Door?
Who’s Dat Creatin’ LotsaTrouble Galore?
Who’s Got Greenie Pinned to the Floor??
It’s Barney Google…
Wit’ da Great Big Googly Eyes!
Barney Google, Wit’ da Great Big Goog Googly….. Eyes!
collie
Tail’s Awaggin’, Awaggin’
Big Nan would he sell me some?
Just left asda there got a wee deal on a dark ale “spooks”4.7% for a quid..thats what craigie paid for sevco lol…a bottle of wolf blass yellow label cabernet..also picked up “the hobbit”on blu ray..girlfriends makin a butchermeat fry up..chilled out night ahead..
Welldone Cliftonville
oh its great being a happy tim
h.h
Paul Lawrie going well. One under for today through 3.
Ally’s understanding: delighted at the statement, it’s been bizarre, a difficult week, it’s the least the fans deserve.
Why do the sevcovians need an independent commission? Can’t they trust themselves?
Pork pie faced sally looking for clarity and honesty!
Them’s really have no memory or shame.
Most of our players underperform at Hampden, with the exception of maybe Matthews and Rogne. There are a lot of doubts surrounding players, so I’ll dispense with dots.
Everyone fit – 3-4-3
Forster; Ambrose, Wilson, Mulgrew; Commons, Wanyama, Ledley, Matthews; Forrest, Hooper, Stokes
Forrest not fit – 4-3-1-2
Forster; Lustig, Ambrose, Wilson, Matthews; Wanyama, Mulgrew, Ledley; Commons; Hooper, Watt
If neither are fit, the latter, with McCourt in place of Commons.
Neither being Commons and forrest
Wtf do they need a commission for …..bizarre
What if the find out ( what we all know ) that Greengo is a shyster …..
They’ll have continued to let him run their club during the period of investigation ….strange
Fiduciary duties anyone ??
Ntassoolla
17:18 on
13 April, 2013
Big Nan would he sell me some?
……………………………………………
Said he would do the same again for Hamilton so why not.
The Sevco board have organised an independent commission to fulfill the function that non executive directors are supposed to perform.
Talk about shrinking your responsibilities.
And if the non exec directors aren’t up to the job they shouldn’t be on the board in the first place.
new article posted.
UOG
Your first selection looks unbalanced …assuming Ledley plays on the left midfield ….leaves us with Vic as the only centre midfield ….
Too weak IMO …also three at the back is a nightmare for us
I fully expect this Commission to get to the bottom of all this. They will find links to Green and Whyte and lies made to gain a licence from SFA.
They will volunteer to revoke their own licence and take Sevco to the lowest of the junior leagues.
They will beg to be admitted and apologise to the people of Scotland for sullying part of the fabric of society.
This white coat is tight and why do they spoon feed me. What does psychotically delusional mean???
roy croppie (and KevJungle),
Thanks for replying. It would be the Janefield Street one.
KevJungle,
I spent about 4/5 years up on that wall, between the ages of about 7/8 and 12. Never bothered me a bit, to be honest. Only problem was you couldn’t follow the flight of the ball when the goalie kicked it out.
Its nothing to do with Rangers, its one man whose done this,Charles green!
Oh and Craig Whyte,
its nothing to do with Rangers, just two men
and Imran Ahmad’s
Its nothing to do………..etc etc
Caller on snyde, bill miler left at the last minute (wrong, he bailed after two days because of the £30M black hole). If whyte has had something to do with this we-sevco- shouldn’t be punished!
Caller now blaming SFA!
It’s everybody else’s fault!
Goan yersel George Galloway stick it tae them Bhoy!
http://youtu.be/iTMW701DXLo
I know this is off-topic :-) but someone posted yesterday, sorry can’t remember who, about the official website. I look at CQN, News Now Celtic, E Tims and Kerrydale St. I haven’t been to the club site for a few years because I thought it was so bad. However, I had a look today. Sadly it’s gotten worse. Surely the first thing on the site should be the crest on a field of green and white, something to make people aware they’ve entered a Celtic site. The whole site is a mess, too busy and confusing. I know advertising helps subsidise it but surely the club can do better than this. Any one agree, and has anyone contacted the club about it?
Wee Shaun looking the business,
Should we try and bring him home?
Could anyone tell me how the bhuns setting up their own independent inquiry into themselves can in any way excuse the SFA from nailing the barstewards..
This is an internal matter for Rangers and should have no bearing on assurances given by them to the SFA
SSB concetrating on a 4th Division game played today …..very nice of them….
Well done Cliftonville. I spent many an afternoon watching the Reds as a member of the Red Army in my youth. I lived a stones throw from Solitude.
clink\o/
17:35 on
13 April, 2013
Absolutely, but it’s only the MSM who are mentioning the SFA in conjunction with this ….. The SFA will have to investigate green and Whyte independently of sevco’s internal investigation, and duly revoke their conditional license, or not award them a full license for next season ….. The SFA have the reputation of all Scottish Clubs to protect ……… those barstewards have trashed Scottish Football enough…. Get them tae………and allow us to get on with the sport of football…