The following post comes about as a result of the research and work put in by Auldheid.
He has drafted the submission to FIFA detailed below after closely looking at their rules, and taking on board the points contained in the Glasnost “Golden Rule” blog. TSFM has attached the blog’s name to the report since the overwhelming – but not unanimous – view of our readership is that the SFA and the SPL have again gotten themselves into an almighty and embarrassingly amateur fankle over this issue.
We believe that tens of thousands of football fans will be lost to the game if the outcome of the LNS enquiry is not perceived to be commensurate with the scope and extent of the rule breaking that LNS found had taken place. In view of this, we believe that we have to do what we can to explore all possibilities for justice for those who love the game so much and yet are utterly disillusioned by recent events.
LNS is not being questioned here. He has found that RFC were guilty as charged by the SPL.
What is being questioned is the SFA’s crucial – and seemingly conflicted – role in the LNS enquiry, as is the effectiveness of LNS’s recommended sanction as either a deterrent or an upholder of sporting integrity.
It came to our notice last week that FIFA have created a web site at
https://www.bkms-system.net/bkwebanon/report/clientInfo?cin=6fifa61&language=eng
that tells us that FIFA have implemented a regulatory framework which is intended to ensure that all statutory rules, rules of conduct and internal guidelines of FIFA are respected and complied with.
In support of that regulatory framework FIFA have set up the above site as a reporting mechanism by means of which inappropriate behaviour and infringements of the pertinent regulations may be reported.
FIFA say that their jurisdiction encompasses misconduct that (1) relates to match manipulation; (2) occurs in or affects more than one confederation, so that it cannot adequately be addressed by a single confederation; or (3) would ordinarily be addressed by a confederation or association, but, under the particular facts at issue, has not been or is unlikely to be dealt with appropriately at that level.
Discussions arising from the previous blog on TSFM, “Gilt Edged Justice”, which was published after Lord Nimmo Smith (LNS) ruled on the registration of Rangers players who had contractual side letters that were not disclosed to the SFA as part of their registration, suggest that there may be possible unfortunate consequences for football arising from the evidence presented by the SFA to the LNS enquiry that informed its findings on registration and consequent eligibility. There is also a question of the propriety of the SFA providing evidence on an issue which could have had a negative impact on them had it been found that they had failed to carrying out their registration duties with due rigour over a period of ten years when the existence of EBTs was known to officials within the SFA.
On the basis that the LNS findings require that registration rules be clarified by FIFA and rewritten globally if necessary to remove any ambiguity and under clause 3 above, this appears to be an issue that the FIFA should examine and that the SFA cannot address.
The following report has therefore been submitted by TSFM on behalf of its readers to FIFA drawing on the content and debate following the “Gilt Edged Justice” blog in respect of the possible footballing consequences of the LNS enquiry.
The hope is that by speaking for so many supporters, FIFA will give the TSFM submission some weight, but individuals are free of course to make their own points in their own way. We await acknowledgement of the submission.
The report Submitted to FIFA is as follows;
This report was prepared on behalf of the 10,000-strong readership of The Scottish Football Monitor at http://scottishfootballmonitor.wordpress.com/
It is our belief that FIFA general rules of conduct were breached by the SFA and their employees in both creating and then advising The Lord Nimmo Smith (LNS) enquiry into the non disclosure of full payment information to the Scottish Football Association (SFA) by Rangers F.C during a period of player registration over 10 years from 2000.We believe that although the issue has been addressed by the SFA the particular facts at issue suggest that it has not been dealt with appropriately and we therefore ask FIFA to investigate. The facts at issue are that the process and advice given failed to uphold sporting integrity, and that a conflict of interest was at play.
We believe the advice provided and the enquiry set up, where SFA both advised and is the appellant body, breaches not only the integrity the registration rules were intended to uphold, but also totally undermines the integrity of the SFA in breach of General Conduct rules 1, 2 and 4. (See below.)
1. Firstly we believe that the advice supplied to LNS that an incorrectly registered player was eligible to play as long as the registration was accepted by the SFA however unwittingly, undermines the intent of the SPL/SFA rules on player registration and so undermines the integrity of football in three ways.
• It incentivises clubs to apply for a player to be registered even if they know that the conditions of registration are not satisfied, in the hope that the application will somehow ‘slip through the net’ and be granted anyway (in which case it will be valid until revoked).
• A club which discovers that it has made an error in its application is incentivized to say nothing and to ‘let sleeping dogs lie’ – because it would be in a better position by not confessing its mistake.
• And most importantly, it incentivises fraud. By deliberately concealing relevant information, a club can ensure that a player who does not satisfy the registration conditions is treated as being eligible – and therefore allowed to play – for as long as a period as possible (potentially his entire spell with the club). Then, if the club is no longer around when the deception is finally discovered, imposing meaningful sanctions may be impossible.
2. Secondly we believe the process followed was inappropriate due to a Conflict of Interest. Had the LNS enquiry not ruled on the basis of advice supplied by The SFA, they and those persons advising the LNS enquiry, could have been subjected to censure and the SFA to potential compensation claims had LNS found that the players were indeed ineligible to play and results then been annulled as was SFA practice when an ineligible player played.
3. Finally we contend that a law should not be applied according to its literal meaning if to do so would lead to an absurdity or a manifest injustice or in this case loss of football integrity.
See http://glasnostandapairofstrikers.wordpress.com/2013/03/07/gilt-edged-justice/4. We therefore ask FIFA to investigate both the process used and advice given to Lord Nimmo Smith to satisfy themselves that FIFA’s intentions with regard to upholding the integrity of football under FIFA rules have not been seriously damaged by the LNS findings and also to reassure Scottish football supporters that the integrity of our game has not been sacrificed by the very authority in whose care it has been placed to promote the short term cause of commercialism to the games long term detriment.
General Rules of Conduct (These are taken from the FIFA web site itself and can be found as part of completing the submission process)
1. Persons bound by this Code are expected to be aware of the importance of their duties and concomitant obligations and responsibilities.
2. Persons bound by this Code are obliged to respect all applicable laws and regulations as well as FIFA’s regulatory framework to the extent applicable to them.
3. N/A
4. Persons bound by this Code may not abuse their position in any way, especially to take advantage of their position for private aims or gains.
Long Time Lurker says:
Tuesday, April 9, 2013 at 19:25
2 0 Rate This
STV now saying they have evidence that CG accepted £25,000 from an associate of TGEF in May 2012.
http://local.stv.tv/glasgow/220791-charles-green-agreed-to-receive-25000-from-craig-whytes-associate/
Getting more interesting.
————
Aye, but the cheque bounced, so it disnae count! That wiz a brammer 🙂
Watched the STV interview…
The most unconvincing…uncertain…try to think on yer feet…cobbled together…help I’m sinking…made up attempts at trying to throw answers back to avoid the obvious…your a liar me old son!
The – alleged – use of personal accounts of Charlie and Ahmad’s Mum, does make one wonder.
A suspicious person might have serious concerns about how TRFC/the plc, manages corporate governance, or even Anti-Money Laundering legislation ?
All very murky. Great stuff !
Lord Wobbly says:
Tuesday, April 9, 2013 at 18:56
7 0 Rate This
From RM:
“A spokesman for Rangers confirmed that there had been a
transfer of assets between one newco and a second separate
newco. He told STV: “For the avoidance of doubt, Sevco 5088
Limited bought the assets of the Rangers Football Club and then transferred them to Sevco Scotland Limited so that all the assets would be in the Scottish registered company that is Rangers FC.”
That is from the time of the purchase of assets from the
administration period.
He then said yesterday sevco 5088 never owned nor purchased
anything, so who is lying and why? Who is the person from
rangers who released the original statement and why doesn’t
green remember a statement of that importance?”
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
So that drops Duff and Phelps right back in it as the exclusivity agreement/’deal’ was with Sevco 5088. If they subsequently sold the goodies to a third party without offering them up to others then they should be in deep trouble with the legal people.
Things seem to be accelerating here as the main antagonists forget what lies they have told to whom and when.
Dear Points of View,
Why oh why did Charles Green even appear on STV to answer difficult questions……?
Oh, and while I’m at it, when oh when will the scottish football authorities do anything about all of this?
“Fit and proper” ……. Eh ?
PS: What about when Imran Ahmad told Rangers supporters talks with the Dallas Cowboys were going well?
CG: Well they are. I’ve got an email now if you want to read it after this interview from Dallas Cowboys.
PS: The Dallas Cowboys have previously told us there were no such talks.
CG: I don’t care, Peter, what they’ve said. I’ve just told you categorically, in front of the camera, when this interview finishes, I will show you an email where we are invited to go to Dallas Cowboys. The email came in three days ago.
So either believe me or not. If you don’t believe me, you’re entitled. But I’ll show you and then I want you, separately, to apologise on camera to say you were wrong about Dallas Cowboys, OK?
So far, STV has not been shown the email from the Dallas Cowboys.
PS: Have you ever misled the supporters by telling them what they want to hear?
CG: Never
PS: Never?
CG: Never
PS: You are clear about that?
CG: Yes
PS: What about when you said Manchester United were in favour of Rangers moving to the Premiership? They’ve clearly stated they were against it.
CG: The spokesman did.
PS: So you told Rangers fans Man Utd were supportive of Rangers moving to the English Premiership. Manchester United say they are opposed to it.
CG: So Sir Alex Ferguson wouldn’t like to see Rangers in his league? Who is Manchester United? You define Manchester United.
PS: Who at Manchester United told you that you were wanted in the Premiership?
CG: I’ve had discussions with a number of clubs.
PS: Who at Manchester United told you that you were wanted in the Premiership?
CG: Well… why do we want to know that?
PS: I think there is evidence here that has been contradicted by Manchester United.
CG: It’s been contradicted by a spokesperson from Manchester United.
PS: So is that spokesman not speaking for the club?
CG: My lawyers, who are advising on Rangers going into the UK, have been speaking to a number of clubs, representatives of clubs, to owners of clubs.
I am absolutely very, very clear, from the discussions I’ve had with various people who are speaking to football clubs who would welcome Rangers to play in the English football league.
PS: Can you tell us which clubs?
CG: No. I don’t want to prejudice this club’s chance of playing in England by disclosing stuff prematurely.
Danish Pastry says:
Tuesday, April 9, 2013 at 19:40
Tell you what, CG looks completely deflated in that interview.
I’m guessing he thought he was going to be in and out in 6 months and by the time everyone found out about whyte he’d be long gone and not giving a monkeys…….he’s been flying by the seat of his pants since the SPL turned them down. Looks like the plan is to get as much money out of the business before he’s run out of town…….I’d say he’s got about another week to grab as much as he can with those big hands of his.
Regarding Walter Smith – am I right in thinking that he is currently a Director of Sevco?
If it goes (.Y.) up e.g. administration – does that mean that he can play no part in a take over by anoher consortia – if one came about?
The baw is well and truly burst now,even the Rat Pack are turning on Yorkie.
Wont be long now.
Chris Graham’s gone a wee bit quiet on the Twitter – hasn’t posted since about, ooh, just before six. Hope he’s alright…
Captain Haddock says:
Tuesday, April 9, 2013 at 19:53
2 0 Rate This
Dear Points of View,
Why oh why did Charles Green even appear on STV to answer difficult questions……?
Oh, and while I’m at it, when oh when will the scottish football authorities do anything about all of this?
_____________
I got the impression he was saying, in an almost Nixonesque way, “I’m not a crook.”
Offering Prospectus as below, so quite clearly assets were in Sevco 5088 Ltd otherwise false statement to AIM.
28. Related Party Transactions
On 6 August 2012, Brian Stockbridge, a director of RFCL provided a loan of £50,000 to RFCL. No interest accrued on this balance which was repaid on 7 August 2012. Brian Stockbridge also received a payment of £30,000 for the period from 14 June 2014 to 31 August 2012 with respect to his consultancy services as a director.
The following balances were novated from Sevco 5088 Limited (a company of which Charles Green was the sole shareholder and hence a related party) on 29 May 2012 to RFCL, hence the dates are before incorporation of RFCL:
• On 11 May 2012, Imran Ahmad, a director of RFCL, provided a loan of £200,000. £178,000 was repaid on 15 August 2012 and £22,000 was converted into ordinary share capital of RFCL. Imran Ahmad also received an arrangement fee of £50,000 relating to this loan.
• On 21 May 2012, Charles Green, a Director of RFCL provided a loan of £25,000. No interest accrued on this balance and this was repaid on 15 August 2012.
you know that feeling you get at the top of the roller coaster as it starts to pick up speed, CG and the authorities are probably feeling that now 🙂
BTW some great posts from a lot of people over the last few days – thank you!
Panic over, people – Chris Graham will be on Scotland Tonight later talking about ‘Charles Green’s week’. Might turn in early meself.
Spiers talks about Kissinger like,Danish mentions Nixon,what perfect examples of governance when talking about the Dark Side.
Tic 6709 says:
Tuesday, April 9, 2013 at 20:03
2 0 Rate This
The baw is well and truly burst now,even the Rat Pack are turning on Yorkie.
————-
Aye, but why are they turning now? They must know something more.
re Nixon/Kissinger is Craigie Whyte deepthroat? (wish I hadn’t thought that)
On the subject of any ‘Thursday event’ could be an announcement from BDO of some kind. It may become more apparent that TGEF appearing AGAIN and the apparent slip of façade from Green and his apparent compromised position hence his lies being shown up is all pre announcement jostling for a stance that the sale of the club/assets/newco is indeed deemed by BDO on the face of it ‘illegal’ and will be challenged in court. Whyte maybe go at by the cops to spill and in such cooperative way he seems may see a reduced sentence in the future? Speculation on my behalf of course but the rumour mill maybe coming from lawyers’ sources?
in that stv interview snippet, there was a recorded discussion with craig whyte and chico verde, and verde is clearly heard swearing…and that the cheque for £25k, was not to be traceabale to chico verde.
more smoke and mirrors and billshut
news just in
. . . cambell ogilvie has been crowned world hide and seek champion. . .
tomtomaswell says:
Tuesday, April 9, 2013 at 18:10
£25k cheque received from Liberty Capital.
===================
That’s the important bit.
deldons says:
Tuesday, April 9, 2013 at 20:14
1 0 Rate This
On the subject of any ‘Thursday event’ could be an announcement from BDO of some kind …
————
Whatever is going on, it’s kind of weird to see MSM stories driving the blogs on this, instead of the other way around.
The consensus based on Interim results and the attempts at staff shedding taking place is that The Rangers could be experiencing liquidity problems in the next 12 months.
In support of this there are a couple of business cases at
.https://docs.google.com/file/d/0B62m3ggkEX2RUWZ5THpycmFpTms/edit?usp=drive_web
The first is a 5 year plan that suggests that at current levels of spending and if CG tries to keep a balance between income and wages they will be deeply in the red in 2014/15 and will still be £8m down by year 5.
The second if you scroll down covers an 8 year period but assumes that in year 5 the stadium will be sold for a sum that covers the debt at that point and stadium is rented out by the new owners. I placed stadium sale at 5 years to see its impact on previous plan but in doing so it appears obvious that there is no good reason to delay that long, in fact without a sale and lease back the are in deep doo doo.
The individual figures used come from Interim Accounts, past accounts, Prospectus information and other public sources. They are as accurate as possible but some, like stadium naming are just guesses. The sheet has been seen by a few others in earlier forms and reflects as far as possible feedback.
No doubt there will be more suggested chnages but any are unlikey to make a massive difference to the predictions of when the money runs out.
Of course costs can be cut but that argues against squad strengthening and whilst ticket prices could rise both these factors put the benefits of a ticket price rise at risk as well as being able to recruit players to assure a climb back to the top in a straight run.
So fill yer boots and if anyone wants the original file to play around with e mail tsfm and ask him to forward me your e mail address.
Well
Reading between the lies
An opinion
One piece of the jigsaw now looks complete
The original Whyte/Green plan was for Sevco5088 to have a share flotation immediately after it bought RFC assets from D&P After the share flotation Whyte would still own a majority of Sevco 5088 shares. 49% of the shares would go to the backers (Ticketus, ,Zeus and a few dozen Spivs) plus freebies for the favoured few
However
As soon as the asset purchase deal was done Green told a very large porkie presumably with the full support of Ticketus, Zeus and the rest of the Spivs
Green advised Whyte that he needed a Scottish co to own the assets They verbally agreed Sevco5088 would create a wholly owned subsidiary registered in Scotland immediately after the assets were bought. They also agreed to increase the share capital of Sevco Scotland and allot shares pro rata to Sevco5088 with a very large lumber of “extra” shares created to be exchanged for the investment put up by the other Spivs
Green told Whyte that he (Whyte) “was Sevco”. He intended this to mean that Whyte owned both Sevco5088 AND Sevco Scotland. Whyte understood this to mean that after the asset purchase he now owned the same share of Sevco Scotland as he owned in Sevco 5088
The double cross
Green needed authority to act on behalf of the Sevco5088 without seeking the written approval of the majority owner Whyte. He needed this authority to instruct D&P to transfer ownership of the assets not to Sevco 5088 but to another company under his control. To give this major instruction he needed to present D&P with proof of his authority. This is where the Companies House resolution of 14 June comes into play.
i.e.
On the day that D&P were instructed to move the assets to Sevco Scotland they must have been presented with a copy of a Sevco5088 resolution form sent to Companies House. This empowered Green to act on behalf of Sevco 5088 without reference to its shareholders. This resolution is called DISAPPLICATION OF PRE-EMPTION RIGHTS. It has to be passed by a 2/3 majority of Sevco5088 shareholders. It could not be passed without the written approval of Whyte as the majority shareholder in Sevco 5088
How was it done?
Green may have just did it without Whyte`s written approval. if so he will be unable to provide evidence that Whyte agreed to his shareholding being diluted from 51% to under 33%
This would be the crux of Whyte`s claim against Green if the dispute ever goes to court
If it fall apart for Green then ownership of the assets revert to Sevoc5088 and thus to Whyte. The RIFC flotation becomes null and void since it was based on a false premise that Sevco Scotland would not own any assets
If there are any more revelations I wouldn`t be surprised if dealing in RIFC shares was suspended
It woud seem
Craig Whyte owned Liberty
Liberty Capital owned Wavetower
Wavetower owned Rangers
Craig Whyte did not pay taxes of over £10m
Craig Whyte placed Rangers into administration, appointing his own financial advisers to deal with it.
Charles Green was eventually given preferred bidder status in a CVA, and sole bidder status in liquidation.
Liberty Capital provided Charles Green with a cheque to pay his legal fees
This, along with the £137,500 to Ahmed’s Mother’s bank account corroborates Whyte’s claim that Green was working as a front for him. It#s the only explanation that makes sense, at least in the initial stages.
Whyte was trying to buy the assets of Rangers, a company he owned and was being liquidated because he failed to remit tax, paying way under the odds and concealing his involvement.
Green is in it up to his neck, he knew exactly what was going on.
Green was Whyte’s front man, albeit he may later have shafted him in turn.
Pretty nucular stuff.
Danish Pastry says:
Tuesday, April 9, 2013 at 20:22
Whatever is going on, it’s kind of weird to see MSM stories driving the blogs on this, instead of the other way around.
——
Weird, but quite pleasing.
One can only assume that the MSM have got the message that Mr Green is about to have his arse severely skelped and are relying on the wider public only remembering things they read in the papers over the last few days.
Thus, the MSM will claim that they were in the forefront of the “Mr Green Is A Fibber” campaign.
Now that they’ve got Man U and the Cowboys out of the way, I’m sure there are a host of other similar questions to be asked of Mr Green.
Juventus, Mariners, stadium naming, the Puma deal, stadium renovations, warchest, cancer centre (… cancer centre!), club shops, giant screens, extra seating, orange strips …
Sory Glen, I might have to have a look at RM to see whether they’ve got the message over there yet … 🙂
it has become scottish football’s very own Manhattan project
A comment about something other than TRFC – sorry to hear of Dunfermline’s latest plight, do not feel bad for the board but the man on the street fans.
i;m reading the head in the sand stuff over on RM and a question springs to mind.
The consensus on RM seems to be forming around the heritable assets transferring directly from oldco to sevco scotland, bypassing sevco5088 as evidenced by two duff and duffer reports and ipo paperwork.
So when D&D agreed exclusivity with sevco5088, sevco5088 paid for that exclusivity. This resulted in a binding agreement between the two to attempt a CVA and failing that the heritable assets, business and goodwill would transfer to Sevco5088.
My question is, would D&D have been bound to sell the assets to that company as agreed?
Is it legal to then sell those assets to a seperate company, say sevco scotland ltd despite the existing agreement?
Would there have been a paper document form of this exclusivity agreement listing the parties?
Does the exclusivity agreement represent a binding contract (I would have thought so as the agreement was backed up by a funds transfer)?
Does every sale of a property have to be registered with the land registry even if the property is moved on quickly, that is, is it possible to see if sevco5088 actually owned the property, even if only for a few days?
If whytey can show evidence that he provided a substantial part of the funds with the intention they be used for the establishment of sevco5088, that these funds were to be used to agree a period of exclusivity which was agreed, and then later CG circumvented that agreement by purchasing the assets via a seperate vehicle thence invalidating the exclusivity agreement, has CW been the victim of a fraud?
Does this then invalidate the sale if it can be proven?
there seems to be a lot of people here on shaky ground. whytes previous are not going to help him even if he was the victim in this specific example….
We have all heard the old adage ,half the lies he tells are not true ,but the other half ,well they seem genuine in Charlies case,on a seperate note ,Charlie you have dethroned Craigy Bhoy as the Bonnie Prince ,no amount of advice that has been thrown at the people down Govan way has been listened to ,and now here we are ,pesonally I would have the megaphones that spoke for the club ,the know alls that lined their own pockets and will come out again because they see another chance to rip their peeple off ,dragged out and explain what they have not done for the money they have extracted from the emergency funds ,and they have .big stile,but really it is now time to close this instituion ,ironic in a way ,in the week a certain habitual closer of institiutions passed away,we need to get on with the game in Scotland ,if the people supposedly in charge at Hampden dont know how to deal with this they better be on Charlies mode of transport out ,I think Charlie might just be about to spill some Jolly Green Giant Beans of his own.
So bomber brown was right all along , and we all thought he was just plain mental .
You can’t make this stuff up ,better by the day .
OK, I went. From someone at RM:
——
Forget what a “Rangers spokesman” said or didn’t say some time last year, the fact of the matter is that the Club was sold direct from oldco to Sevco Scotland Limited.
It was NOT sold to Sevco 5088 Limited and then transferred on to Sevco Scotland Limited. The Club and assets have never been owned by Sevco 5088 Limited despite the liar Whyte saying otherwise.
Here is an extract from the D&P interim report dated 10 July 2012:
“4.1 The Club continued to trade under the control of the Joint Administrators up to the date of the sale of the business and assets of the Company to Sevco on 14 June 2012.”
“Sevco” is defined in the report as: “Sevco Scotland Limited of Ibrox Stadium, Glasgow G51 2XD (Company number SC425159)”
In the D&P final report dated 27 September 2012, they stated:
“7.1 A detailed outline of the marketing process undertaken by the Joint Administrators which preceded the sale of the business, history and certain assets of the Club to Newco on 14 June 2012, was provided in the previous report to creditors dated 10 July 2012.”
“Newco” is defined in this report as “The Rangers Football Club Limited (Formerly Sevco Scotland Limited) of Ibrox Stadium, Glasgow G51 2XD (Company number SC425159)”
——
Now I’m confused.
Assets were not sold to Sevco 5088, but directly to Sevco Scotland? Eh? That appears to be what the D&P reports are saying.
some of my questions may have been answered in goosy’s post…
bayviewgold @ 20:45
Agree with you about the Dunfermline fans.
I work with a couple of young Dunfermline fans who, while not really surprised by events, are nonetheless quite upset about the whole thing.
(So much so that I’ve spared them most of the Masterton angle. For now!)
They have been very active in the ‘Save The Pars’ campaigning and I hope, for their sakes, that they come out the other end of this with their club intact.
I do know that however it ends up they will stick with their team.
Good on them.
jerfeelgood says:
Tuesday, April 9, 2013 at 20:51
Does every sale of a property have to be registered with the land registry even if the property is moved on quickly, that is, is it possible to see if sevco5088 actually owned the property, even if only for a few days?
The sale of the property was from the Admins to Sevco Scotland “in the terrms of an Agreement….” – whether Sevco5088 was mentioned in that Agreement, I have no idea. That terms of that Agreement are not disclosed in the transaction.
But Sevco5088 were NOT a party to the deed that transferred the heritable properties.
Just been catching up after being away for a couple of weeks. Things reaching fever pitch on a few fronts regarding TRFC and their CEO. If any of the parties that were shouting for this shambling wreck to be given a leg up the leagues, to help them ‘Back’ to where they believe they belong, to allow them a sporting and financial favour over other more deserving clubs, anyone who gave credence to their spouting of the ‘Saviours of Scottish Football’ pash then I hope you will all now take the blinkers off and come in from the dark. The end days for TRFC are imminent.
Because of the spineless,gutless,self important little weasels that go by the name of the SFA TRFC have been allowed to drag the game in Scotland into the myre with them. Their calls of ‘We will bring Scottish Football down with us’ still resonate loud and clear around the corridors of power out Mount Florida way and still the blazers cannot find it within to even make a statement or ask TRFC for some clarity re the current situation. They seem to be quite willing to let football in this country sleep walk aimlesly into oblivion because they could/would not apply their own rules from the outset of this despicable event. Hopefuly the end days for the SFA are also imminent
So why novate from an unrelated company?
The following balances were novated from Sevco 5088 Limited (a company of which Charles Green was the sole shareholder and hence a related party) on 29 May 2012 to RFCL, hence the dates are before incorporation of RFCL:
• On 11 May 2012, Imran Ahmad, a director of RFCL, provided a loan of £200,000. £178,000 was repaid on 15 August 2012 and £22,000 was converted into ordinary share capital of RFCL. Imran Ahmad also received an arrangement fee of £50,000 relating to this loan.
• On 21 May 2012, Charles Green, a Director of RFCL provided a loan of £25,000. No interest accrued on this balance and this was repaid on 15 August 2012.
I remember reading somewhere about a novation, where the sale to Sevco 5088 was changed to a sale to Sevco Scotland.
I assume that I read it here, can anyone remember anything about that.
Oh Dear
Apologies are in order.Gym Trainer felt he had to go over to the other side to expose Charlie, has he known deep down that his ,oops ,Sevco where being taken for a ride,he has been passing out info to his apprentice Keith which has now being relayed to the rags following ,not a lot left but still,apologies for doubting you Gym,a little late but never the less.
Kilgore Trout says:
Tuesday, April 9, 2013 at 21:01
I do know that however it ends up they will stick with their team.
Good on them.
======
and that is why despite the “dunfermline had it coming to them angle” I do have a lot of empathy for their supporters (as with the jambos, and before that the diamonds, bankies etc) “there but for the grace of god” go a lot of football communities in this business orientated world.
Apparently young Master Graham is on Scotland tonight at 10:30 to talk about Mr Green. Get the popcorn on!
I tell you what you miss this blog for an 1hr or 2hr and you are miles behind on what’s happening. Now as for the latest STV stuff and Mr Verde & MR Whyte and Sevco, just brilliant.
On a snippet I heard on SSB tonight Gordon Daziel said that Chico Verde needs to come out with the truth. There is fat chance of that as the man does not know what the truth is, he’s losing the plot. You tell one lie and it leads to another and tell another lie to cover the other and so it goes.
yourhavingalaugh says:
Tuesday, April 9, 2013 at 21:11
Are you suggesting never been to the Gym went undercover ! clever eh
it is becoming clear to me now that the critical chain of paperwork is around the admin/CVA agreement with Sevco5088 and the subsequent sale to Sevco Scotland, there does seem to be an element of bait/switch around this. some questions that are pertinent : under what authority were D&P allowed to sell to Sevco Sco as opposed to the agreed public contract to sell to Sevco5088? why was that not announced?
Danish Pastry says: Tuesday, April 9, 2013 at 20:22
Whatever is going on, it’s kind of weird to see MSM stories driving the blogs on this, instead of the other way around.
It looks as though parts of the MSM have decided that Charles Green has been badly wounded by the Whyte tapes.
As the media, especially the printed variety,have a pack mentality we can expect an exponential growth in searching questions and general scepticicism regarding Charles and all hs works as a variety of hacks decide that they don’t wont to be left behind by the developing story arc.
Just as well he’s got that titan of the printed word James Traynor on board eh!
I take this from the interim results
===================================
http://www.selftrade.co.uk/news/rangers-int-f-c-plc-interim-results-part-2-bb0222368c520f8f2ef1a2b2af3a1f9e
16. Related Party Transactions
….
The following balances were novated from Sevco 5088 Limited (a company of
which Charles Green was the sole shareholder and hence a related party) on 29
May 2012 to RFCL, hence the dates are before incorporation of RFCL and RIFC
plc:
· On 11 May 2012, Imran Ahmad, a director of RFCL, provided a loan
of £200,000. £ 178,000 was repaid on 15 August 2012 and £22,000 was converted
into ordinary share capital of RFCL. Imran Ahmad also received an arrangement
fee of £50,000 relating to this loan.
· On 21 May 2012, Charles Green, a Director of RFCL provided a loan
of £25,000. No interest accrued on this balance and this was repaid on 15
August 2012.
—————————–
I see that, amongst other things, Charles provided them with a £25,000 loan in May, and that along with the “loan” from Imran Ahmed of £200,000 this was novated from Sevco 5088 (of which CG was the sole director) to the limited company.
So they lent the money to Sevco 5088, but the debt was re-assigned to and subsequently repaid by Rangers.
Thankfully it has also confirmed to my addled brain that there was both RFC Limited and RIFC PLC/
It would not surprise me in the slightest if the MSM apparent attack on CG is related to the cardigan and the blue knights, maybe looking to make a bid for newco.
I see the Darkside is claiming victory for Green quoting the D&P interim report that the assets were never sold to Sevco 5088 but sold to Sevco Scotland. All the Bears have settled down quite happily – panic over.
They are in for a rude awakening as they just don’t seem to have woken up to the basis of CW’s whole case which is that a switcheroo shell game was played on him with even evidence coming from Green that he was out to con CW.
All the structured leaks coming from CW are to build a legal case to establish the switcheroo – the way it’s going he might never need to go to court as the building blocks are all slotting nicely into place – if I was into conspiracy theories I might even believe that a Master Mason is drawing the blueprints 🙂
from the AIM regulations :
“General disclosure of price sensitive information
11. An AIM company must issue notification without delay of any new developments which are not public knowledge concerning a change in:
♦
its financial condition;
♦
its sphere of activity;
♦
the performance of its business; or
♦
its expectation of its performance, which, if made public, would be likely to lead to a substantial movement in the price of its AIM securities”
I thought I read somewhere earlier that the Whyte threat to sue was known before the IPO – and it should have been clearly indicated in the prospectus, or even if after IPO should have been made public according to normal listed company practices.
I would expect the AIM regulators should be looking at this.
everything that’s being discussed here must be giving BDO a field of ammunition with which to pick apart the admin…..
Could the possible Thursday event be the TGEF presenting his papers to Court laying claim to the assets of TRFC?
If papers are submitted would that not then lead to the suspension of shares on the AIM?
Would a Court also put a freeze on any cash held by the Club – raised through the IPO?
Could the Club continue to operate on that basis?
Can anyone check the Court rolls for North and South of the border?
Mallaga just been awarded a goal that the Scottish linesman should clearly have flagged offside
The “hiving off of assets” as reported by STV at the time. There appears to originally been pics of the title deeds at the foot of the page, but not any more.
http://local.stv.tv/glasgow/108240-rangers-crisis-ibrox-and-murray-park-hived-off-to-separate-newco/
ecobhoy says:
Tuesday, April 9, 2013 at 21:26
See my last
If Sevco 5088 was in no way involved why did RFC Ltd take on £250,000 debt it had based on loans to it from Green and Ahmed.
It seems Ahmed’s shareholding in RFC Ltd, which was converted to shareholding in the PLC is based on money he originally lent to Sevco 5088.
yourhavingalaugh says:
Tuesday, April 9, 2013 at 21:11
Oh Dear
Apologies are in order.Gym Trainer felt he had to go over to the other side to expose Charlie, has he known deep down that his ,oops ,Sevco where being taken for a ride,he has been passing out info to his apprentice Keith which has now being relayed to the rags following ,not a lot left but still,apologies for doubting you Gym,a little late but never the less.
,,,,,,,,,,,,,
Actually
I would put money on JT announcing his resignation fairly soon
Unlike the Spivs Jim has to live in Scotland after this debacle is over
There is no way any new owner will keep him on so he might as well jump while his inside story is saleable
@angus1983 – This is from Paul McC’s site from June 2012 –
http://scotslawthoughts.wordpress.com/2012/06/27/duff-phelps-had-binding-agreement-with-sevco-5088-why-did-they-sell-ibrox-to-sevco-scotland/
bayviewgold says @ 20:45
…sorry to hear of Dunfermline’s latest plight, do not feel bad for the board but the man on the street fans.
Second that.
Football in Fife would be a lot duller without derbies against the Barcodes.
Also worth noting, as tweeted by Pie and Bovril, “Good to see the reaction of the @ParsUnited fans to today’s punishment. No whining, no complaints, just determination to succeed”
Compare and contrast.
Unbelievable
The scots linesman at the other end has made 2 wrongs a right.Dortmund are through
angus1983 says:
Tuesday, April 9, 2013 at 21:31
It’s not like we’re trying to find Noah’s Ark – Scotland has had a system of recording land ownership since the early 1600’s – not only can you pay money to find out how much your next door neighbour paid for their pad, you can also pay money to see who was involved in the sale of a great big football stadium.
I would have thought that even Bomber could have coughed up the readies to do that.
Danish Pastry says:
Tuesday, April 9, 2013 at 20:13
Tic 6709 says:
Tuesday, April 9, 2013 at 20:03
The baw is well and truly burst now,even the Rat Pack are turning on Yorkie.
————-
Aye, but why are they turning now? They must know something more.
——————————————————————————————-
Maybe partly because they wanted to make sure the 3rd division title (which I think Livingston and Alloa have both won a world record two times) was in the bag before having a bash at doing their jobs.
Timing.
Timing is everything
It matters if your are a politician,a jazz musician, a comedian or a footballer.
It’s all about timing.
The timing of the recent outpourings from Mr Green is open to question
Unfortunately , and regrettably, I would suggest that the failure of timing belt on this particular sporting vehicle could cause irrevocable damage to what remains of Scottish Football.
Goosy
I was very tongue in cheek,Gym as you say will be taking another vacation to Aus or somewhere that Mr Branston is promoting but looking for volunteers to trial ,Gym fits the profile.Space invader.
I might send a copy of this http://www.londonstockexchange.com/companies-and-advisors/aim/publications/documents/corpgov.pdf to here webmail@rangers.co.uk as it looks like they need to read up a bit
angus1983 says:
Tuesday, April 9, 2013 at 20:42
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Danish Pastry says:
Tuesday, April 9, 2013 at 20:22
Whatever is going on, it’s kind of weird to see MSM stories driving the blogs on this, instead of the other way around.
——
Weird, but quite pleasing.
~~~~~~~~~~~~~~~
It is, after all, what we’ve wanted all along. If the media had been doing their job properly (or even at all) from the beginning, RTC and the wider internet of bampottery may never have gained the momentum it did.
For a bit of fun, on Scotland Tonight, how many times will Chris Graham attempt to blame someone other than a current Rangers custodian?
0-5 Thumbs up
6-10 Thumbs down
bfkdy says:
Tuesday, April 9, 2013 at 21:37
“compare and contrast” indeed.
I’m assuming from the moniker you frequent the “streets of Raith” (C) the BBC.
Thinking about the voluntary striking-off Sevco 5088 which is underway then I wonder if that goes through does that mean that the company resolutions and paperwork needn’t be ever produced and might indeed be legally shredded.
The reason I wonder is because I believe if a company is struck-off before first accounts are required to be submitted then no accounts need ever be submitted.
Next Accounts Due: 29/12/2013 but Next Return Due: 26/04/2013 Green is of course the sole director of Sevco 5088. FIRST GAZETTE NOTICE FOR VOLUNTARY STRIKE-OFF was 15/01/2013.
I’m surprised that CW isn’t opposing the striking-off but perhaps he is.
I see Sevco have got new tellys….wasn’t that one of the few investments/improvement CW did make before the liquidation? Does CW or CG own a shop selling jumbo tellies? is this another way of taking more cash out?
From Paul McC’s site from June 2012 –
“Maybe Sevco 5088 Ltd will sue for breach of contract!”
Looks as if this is playing out.
Perhaps a wee Chris drinking game is in order, LW? Looking for mentions of ‘enemies of Rangers, ‘Lawwell controls the SFA’, ‘It was all Craig Whyte’s fault’.
chipm0nk says:
Tuesday, April 9, 2013 at 21:06
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I remember reading somewhere about a novation, where the sale to Sevco 5088 was changed to a sale to Sevco Scotland.
I assume that I read it here, can anyone remember anything about that.
====================
Yup it was a long post by Hirsute Pursuit reposted by BRTH and was on the significance of novating. A few pages back.
Rumours on Twitter that McCoist punched Green today.
The thing that makes it a little more believable is that it’s coming from Sevconians and there seems to be quite a lot of them in the know about it.
Allegedly coming from reliable sources inside Murray Park.
Oh Dear
Neil Lennon can be in trouble again ,he was reported by his neighbour of using foul and abusive laungauge against a 4th official,although the game was in Germany and Lennon was not actualy at the game ,Mr Lunny feels that as his neighbour is a season ticket holder in scottish football he is entitilled to complain ,well fair comment.
for those not au fait with company reporting and IPOs – the reason (and I think some better than me mentioned many posts ago) I am bringing the non-disclosure of the threat to sue up is that unlike every other thing going on here – it does not have to have any merit it could be a completely made up figment of Whyte’s imagination – but RIFC had a regulatory obligation to report it.
Just watched Charles on the Man U, Dallas thing……that is the first time I have seen him struggle to chew gum and f*rt at the same time, he really is on the back foot. To use another US political metaphor, Craig Whyte is having a long pyss into the Sevco tent, STV must know they are on a winner, they have been utterly docile on this charade over the last 12-18 months, and now are Whyte’s chosen conduit. Keep it coming……