Imagine you are one of those people who have a nice big mahogany desk, with a gloss finish set in a big corner suite office which comes complete with a picture window, a break out area, a couch to lie down on in moments of stress, a quietly playing stereo sound system, fridge, plush carpet and loads of wee executive toy like things of your choosing.
Imagine, just for a moment, that outside your office you have the executive German car that is almost compulsory when you work in such an office. Added to that, you also have the benefit of a large six figure salary, a pension scheme, substantial holidays, a bonus scheme which nicely enhances your already excellent salary, fantastic perks and trips abroad as part of your job, and that you fill a position which leads to invitations to the most fantastic events, do’s, and sporting occasions imaginable.
Imagine the respect you must command from your peers, your family and friends.
Imagine the awe that you must be held in at dinner parties and social events when you are introduced to strangers for the first time– strangers who will have heard your name, and know of your position in society.
Imagine the personal and professional respect you must command from others in your field — or any other field for that matter — when you go to conferences and meetings in foreign cities and with foreign counterparts.
Imagine the envy that many others sometimes feel for someone who has succeeded in business and society to this extent.
Then imagine that the big office described above is at Hampden?
What a bummer!!
Now, I mention all of this because if you were one of the big cheeses at at Hampden, I wonder just what you do with yourself when the large rosewood door of your office closes behind you when you get in there each morning?
Maybe you make a coffee? Read the papers? Check the mail? Go to a meeting about the latest in 3G or is it 4G pitches being installed in a ground or two in the Shetlands?
However, no matter what you do and who you speak to THAT file is always there— always at the corner of your desk, neatly up there at the top left hand corner just beyond the desk top golf set and above the Newton’s cradle with the balls that spell your name or whatever.
That file– the one that relates to the finances, compliance, directors details and ownership of Rangers Football Club.
At least that is what the top of the file says. Though to be fair it is a continuation file… continuing from the one that was opened two months ago and is fit to burst already with reports, memo’s and letters- which in turn was a continuation of the one before that and the one before that and the one before that and on and on.
Maybe that is not the correct name for the club?
Maybe that is something that can be clarified at the next meeting with the Directors and CEO of the club— whoever they might be at that time?
No matter where you go in the room, you can see that file from every position. There is just no getting away from it.
Who owns The Rangers?
There are all sorts of reports, share prospectuses, memos, deeds, documents, contracts, letters, e-mails all asking the same thing. And there you are— none the wiser.
Please clarify this, please clarify that, are there any signed but unrecorded documents, or contracts?
Are the Companies House records accurate? is the Land register accurate?
At the end of the day you just lie on the couch, place a cold cloth over your head and hope it will all go away.
Then the accounts come out. Oh the figures are shocking and they confirm that most of the people you negotiated with to get their team playing football somewhere after the collapse and liquidation of RFC PLC have exited stage left with huge severance cheques.
They now live in France, or Singapore or the Cayman Islands and you can bet they will never darken a door in Mount Florida on a wet February morning ever again.
But that is not the worst of it — the bleeding internet is full of leaks— documents, letters, e-mails, contracts, company forms and all sorts.
You wouldn’t mind if the documents leaked were ones that you had seen before, but in the main they are things that you have never seen and never had disclosed.Every day someone calls and asks ” Have you seen the latest?” and of course you haven’t so you stand there feeling like a complete chookie!!!
Every day you call the compliance and monitoring guys:
” Eh have you seen this? Have you been notified that he is a director?”
” No boss – never seen that? Never knew it existed?”
” So who owns the company if that is correct?”
” Eh Dunno boss — not sure of anything over there any more!”
“Ok have you checked the titles with the lawyers?”
” yes but the title as registered looks ok, but there is no guarantee that it hasn’t been sold to someone else and they have not registered their title for the moment!”
” Have you spoken to the lawyers? Have you asked for clarification?”
” yes Boss — the Lawyers don’t really answer our questions– well at least not fully!”
” What about these accounts – there are 57 pages there – what do they tell us?”
” Well they tell us that the figures are not good, boss, but not immediately critical.”
” Are they paying their taxes?”
” Appear to be boss– but we can’t be sure.can we? We were told they were paying their taxes before and … well you know the rest.”
” Ok, but Pinsent masons rule out the Whyte guy being involved?”
” Ah well not really – they don’t go into the company he says he owns – they sort of ignore that part!”
” But they carried out an independent investigation, surely?”
” True boss, but the independent investigation was only into what the non independent guys wanted investigating Boss, and they appear to have finished their report without speaking to all the witnesses.”
” Ok but the accounts – what do the accounts say about Whyte being the real owner — I mean they are from Deloittes for God sake – they must make the position clear?”
” Well we have had a look at them boss and in that regard the accounts are King Kenny!”
” King Kenny?”
” Aye King Kenny Boss – with regard to Whyte’s claim they say ” maybes aye– maybes naw” and they leave it at that”
” Jesus, well have you written to the Directors?”
” Aye – half the letters have come back marked “Gone away”.Boss”
” Do you know who the shareholders are?”
” Naw Boss”
“Do they have a bank account and a bank reference ?”
” Naw Boss”
” Who’s coming to the next meeting from their side?”
” Dunno Boss”
” Is there anything you can tell me that lets me close this file and get it off my desk for good?”
” Naw boss”
” Well who did we grant membership to last year?”
” The first time or the second time Boss?”
” What do you mean – first time or second time?”
” We started out granting membership to one company and then changed it to another”
” Two companies – owned by the same people?”
” Dunno Boss– but they sounded the same.”
” And which one got a licence?”
” Dunno boss”
” What?”
“Was the licence not granted by Mr Longmuir boss? And then ratified by us as a formality?”
” Why are you asking me, you are the compliance guys?”
” Aye but we were told it would all be ok by … well by someone ….. and by Mr Longmuir”
” When did he tell you that?”
” Told us one day at Ibrox Boss – I think it was at half time?”
” Half Time?”
” Aye – though it might have been full time boss ….. free bevvy and sandwiches so can’t quite remember”.
” Well who has the paperwork?”
” Lost boss”
” Lost?”
” Yes Boss – it was meant to come up from the SFL but never appeared. Turns out that the SFL was run as an unincorporated body and none of its records etc, are intact or have ever been audited …… Boss. Mr Ballantyne might have them in his garage Boss! ……… Boss? ….. are you still there? Boss?”
The man in the corner suite leaves the phone dangling, goes to his fridge for a cold drink and switches on the executive plasma hanging on the wall by way of the remote control on his desk.
The screen beams into life and an advert for the brand of soft drink that he is holding fills the wall. The very same brand of soft drink that has just been announced as the official soft drink to partner Scottish Football.
The executive, looks at his drinks can, looks at the file on the corner of the desk, looks at the abandoned phone and finally looks at the screen just as the speakers spell out clearly ………….. the benefits of coming from a long line of Fannies.
This is Scottish Football Administration in the 21st Century.
john clarke says:
Thanks JC
I will be interested in any direction the Court gave, other than granting the interim interdict and preventing the AGM going ahead.
Did he put a timescale on a new one, or make any comment on the requisitioners request to be included as potential directors to be voted on.
thirdmanrunning says: October 14, 2013 at 2:29 pm
I remember being told of the restrictions regarding pumping cash into a plc some years ago when Desmond underwrote Celtic’s last share offering some years back – his underwriting meant that he was approaching the takeover threshold but if memory serves he amde a statement ot he stock exchange and got dispensation to do so.
My point is that it’s well known that plc’s can’t just get money pumped in (or taken out!) – if NewGers have to play by stock exchange ruiles, there’ll be much wailing and gnashing of teeth as their revenues clearly can’t support the ambition (or self-importance) of vast swathes of their fanbase.
Strap in, it’s going to be a rough ride…
http://static.environmentalgraffiti.com/sites/default/files/images/1907133298_74b9c3cc6d_z.img_assist_custom-600×521.jpg
tcup 2012 says:
October 14, 2013 at 4:18 pm
All I am saying is The 1m that is unavailable at the moment
May be all there is
And as pointed out When does it become available ?
So although I agree completely that there may be no fund’s available to them
There may still be 1m in the bank
—————–
Here’s what was said (http://www.twitlonger.com/show/n_1rpl8nj):
Big gav
Thanks for pointing that out
I stand corrected
😀
Only 1 wee thing When does anything this mob say equate to the Truth 😉
What chance King is going along with Mather and Stockbridge, who Lets face it are just the third division spivs, so he can dupe them into thinking he is on their side when all he really wants is to gain control with selective brouges and bump them at the earliest opportunity?
tcup 2012 says:
October 14, 2013 at 5:02 pm
Big gav
Thanks for pointing that out
I stand corrected
😀
Only 1 wee thing When does anything this mob say equate to the Truth 😉
—————
Anything they say has to be picked over with a fine-toothed comb and taken with several bags of salt. ‘Glib and shameless’ describes the lot of them.
Lets be clear – there are no separate camps of TRFC engaged in a civil war. They are all together complicit in it together. Today was a win win for them all.
For the avoidance of doubt, these are people trying to make as much money as they can for themselves.
[]
http://www.scotsman.com/sport/football/latest/rangers-agm-postponed-after-court-ruling-1-3140943
Lord Tyre ruled there was “no valid legal reason” for chief executive Craig Mather and the other Rangers directors not to present the Murrays’ motion to the rest of the club’s shareholders
====================================================
Really it’s just a matter of getting on with it then.
Arrange a new date and get the shareholders notified.
Tif Finn says: (532)
October 14, 2013 at 5:52 pm
0 0 Rate This
http://www.scotsman.com/sport/football/latest/rangers-agm-postponed-after-court-ruling-1-3140943
Lord Tyre ruled there was “no valid legal reason” for chief executive Craig Mather and the other Rangers directors not to present the Murrays’ motion to the rest of the club’s shareholders
====================================================
Really it’s just a matter of getting on with it then.
Arrange a new date and get the shareholders notified.
============
Anyone running a book on the excuse for the next postponement?
On bbc radio Scotland / sportsound – after 6.10pm tonight
. . . Paul Murray, former Rangers [sic] director will be on. They want you to text questions in to him
Text – 80295
Erm, paul – what is the difference between administration and LIQUIDATION ?
Cheers
I wonder if we will hear from Charlotte (or any of her derivatives) in the next day or two…
Surely the Bbc MUST clarify that the Rangers* board that paul Murray was on, is completely different to the
Rangers International FC Plc. .??
I guess this means that the carcass stripping and bone boiling activities down Govan way will now accelerate.
(This is really a test post from my laptop as posting from my phone appears to be goosed. So, if this sticks in moderation,
‘Help. Let me out!’)
{Edit] That worked. Just the phone then.
After ‘McCosts’ (copyright pending) nonsense at the weekend I’d like to ask Paul Murray if the board he was part of really did blow their wad on players they couldn’t pay for in full? And against a backdrop of the same board cheating the taxman, what conclusions should we arrive at in respect of his suitability to return to a board position at the new skint club which replaced the skint club he was part of which is now in liquidation. These peepil get really get my goat.
Some time ago now, there was mention of Sevco’s failure to provide details of investors on accounts posted. Has this been done yet, or have we all been diverted from this omission?
Paul Murray: “This will be the first AGM in 3 years”
No, this will be the first AGM.
Keith Jackson: “Sandy Easdale spent time at Her Majesty’s leisure”…Classic!
Was paul Murray a board member at Wavetower – the parent / holding company for Rangers FC Plc?
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11741367
14 October 2013
Rangers International Football Club plc
(“Rangers”, the “Company” or “Club”)
Notices under section 338 of the Companies Act 2006
Petition for an Order under section 45(b) of the Court of Session Act 1988 and for interdict
Further to the announcement on 4 October 2013 regarding the petition filed in the Scottish Courts (the “Petition”) by Paul Murray, Malcolm Murray, Ian Cormack, John Graham and Colin Howell being shareholders representing 0.71 per cent of the voting rights of the Company (the “Petitioners”), the Company confirms that the Petition was called in the Scottish courts to be heard today, Monday 24 October, 2013 by Lord Tyre.
The Petitioners sought an interim order to require the Company to circulate notices received from the Petitioners pursuant to section 338 of the Companies Act 2006 (the “Notices”) to shareholders putting forward resolutions for the appointment of Malcolm Murray, Paul Murray, Scott Murdoch and Alex Wilson as directors of the Company. The Petitioners also sought an interim order to require the Company not to hold its Annual General Meeting (“AGM”) until such time as the Notices have been circulated to shareholders.
The court has ruled that the AGM convened by the Company to be held on 24 October 2013 should not go ahead on this date in order for there to be sufficient time for the shareholder resolutions as proposed by the Petitioners in the form of the Notices to be circulated and considered by the shareholders of the Company.
The Petitioners’ submission and argument that the Company should simply have accepted the signed Notices at face value without any further enquiry was rejected by Lord Tyre. The Board of Directors of the Company received clear and firm advice from its solicitors and senior and junior counsel that on the face of documents provided by the Petitioners the Notices had not been signed in a manner that was authorised and as a result the Directors were obliged to seek further clarification from those shareholders. Every effort was made to engage with the Petitioners on these issues however the Petitioners chose to resolve the matter in court. In Lord Tyre’s opinion, these irregularities did not invalidate the Notices.
Lord Tyre said that it was appropriate to refrain from circulating the signed Notices if there were reasons to justify this. Lord Tyre ruled that the categories of reason for not sending out resolutions were strictly limited and did not include cases where requests appeared not to have been signed by shareholders in a manner that was not authorised by corporate shareholders’ own rules.
Steps will now be taken by the Company to fix an alternative date for the AGM as soon as possible and for the business to be considered at the AGM to include the resolutions proposed in the Notices.
Further announcements will be made as appropriate.
For further information please contact:
Rangers International Football Club plc
Craig Mather, CEO
Brian Stockbridge, FD
Tel: 0141 580 8647
Daniel Stewart & Company plc
Tel: 020 7776 6500
Paul Shackleton / James Thomas
Newgate Threadneedle
Tel: 020 7148 6143
Graham Herring / Roddy Watt / John Coles / Fiona Conroy
Media House International Ltd
Jack Irvine
Tel: 020 7710 0020
Paul Murray – the club – is without debt !!!
Listening to BBCSportsound Paul Murray talking about D King being a real decent man.
How many times have we heard about all the decent men working in the past at Rangers. It seems a shame that the club got liquidated. Just imagine what would have happened to the club if it was not decent men in charge.
The whole sham is a sham.
How many times can people be duped
jim larkin
if so ,who is covering the 19m losses 🙄
fergusslayedtheblues says: (130)
October 14, 2013 at 6:48 pm
2 0 Rate This
jim larkin
if so ,who is covering the 19m losses
============================
Hopefully R.I.F.C plc and not the ambulance, police, fire service, the face painter, the engraver, the tax payer
It seems the good people at follow follow are now convinced that Paul Murray’s people will take over the board at the AGM and that Dave King will become chairman. He will then put loads of money into the club and “the taigs” are running scared of these things happening.
Gob-smacking arrogance from Paul Murray on Sportsound tonight. He stated a few times the current Rangers board are operating outwith company law yet then championed the cause of Dave King, who may yet not qualify for the Rangers board because of eh…company law! Well done to Graham Spiers for persisting with his line of questioning, only for it be ruined by Keith Jackson, who added as much intelligence to the debate as the half drunk guy at the bar with a WATP tattoo on his knuckles. Paul Murray couldn’t resist a comment at the end about all Rangers ‘blue chip’ investors – old habits die hard it would seem. How glad I am to support a club which get’s on with it’s business very well with all the wee corner shop guys and their small time mentality, which seems to work very successfully right under the noses of the glitterati across the river.
“The Petitioners’ submission and argument that the Company should simply have accepted the signed Notices at face value without any further enquiry was rejected by Lord Tyre….blah, blah, blah, blah…In Lord Tyre’s opinion, these irregularities did not invalidate the Notices.”
How to make sense of a paragraph book-ended by these two sentences?
The Requisitioners are deid, long live the Petitioners!
John DC Gow @JohnDCGow 32m
Paul Murray thinks there will be legal charges against certain people when BDO finish their investigation into the liquidation of the oldco.
Do not know how reliable this guy is.
valentinesclown says: (235)
October 14, 2013 at 6:39 pm
I wonder just what kind of man finds a ‘glib and shameless liar’ to be a decent man?
I would imagine the description ‘decent man’ has often been used in Barlinnie, and similar institutions, by one resident, to describe another resident.
nowoldandgrumpy says: (732)
October 14, 2013 at 7:19 pm
He is not reliable – he still argues with anyone that will listen to him on Twitter about the clumpany being a holding one etc – and Paul would be one of the ones fearing legal charges surely – no idea why Paul would know anything! Seems he is too busy trying to get a tie and blazer for free (as CW says, without investing a penny)!
Allyjambo says: (599)
October 14, 2013 at 7:22 pm
I would imagine the description ‘decent man’ has often been used in Barlinnie, and similar institutions, by one resident, to describe another resident.
————————————————————————————————————-
Barlinnie twinned with the big Hoose (as in the Big Hoose must stay open)
BigGav says: (43)
October 14, 2013 at 4:51 pm
tcup 2012 says:
October 14, 2013 at 4:18 pm
All I am saying is The 1m that is unavailable at the moment
May be all there is
And as pointed out When does it become available ?
So although I agree completely that there may be no fund’s available to them
There may still be 1m in the bank
—————–
Here’s what was said (http://www.twitlonger.com/show/n_1rpl8nj):
FINANCIAL PROJECTIONS
GL – What will be the low point for our cash balances in this current year.
BS – April of next year we will have over a million at that point plus we will also have an optional unsecured facility provided should we need it.
CM – the million is without counting any Rangers Retail dividend. So there will be more than a million at our lowest point.
…………………………………………………………………………………………………………………………………………………………………….
Big Gav and tcup
We’re all in agreement here.
As far as The Rangers getting to the end of the season is concerned, I believe the crux of the matter is the £2.5M ”facility” that Brian Bullshot alludes to. He refers to this as an ”unsecured facility”.
Now, we should ask ourselves the question; who, in their right mind, is going to give this lot £2.5M with no security? It just isn’t going to happen. If they do manage to raise some money to get to the end of the season, it will be on the basis that, whoever provides the money has complete control over how and when it is paid back (with very hefty interest) or someone who has control/part control over the assets.
Either way, I have the strong suspicion that this £2.5M (or part thereof) is a device to be used to hold the balance of power to ensure that the spivs get their way…or a hostage, if you will.
The rebel’s claim they have the backing of 28% of the shares. The board, it’s being said, control about 32%. If these figures are true, it means about 40% of the votes for the board election at the AGM are up for grabs.
Whatever the actual figures may be, in the coming weeks both factions will surely be publicly campaigning to win those votes. All the name-calling, backstabbing, double-dealing, mudslinging, character assassination, smearing, vilification and abuse that we’ve seen so far in this never-ending saga will probably pale in comparison to what’s to come…
CELTIC have urged their shareholders not to support a call for the SFA to be reported to UEFA over its handling of the Rangers crisis.
A group of investors insist the Ibrox outfit received special treatment from Scotland’s football chiefs after Craig Whyte tipped the club over a financial cliff in February 2012, leading to the liquidation of the oldco.
And Record Sport can reveal the controversial proposal will be voted on at Celtic’s agm on November 15.
The board refuse to support the resolution and have written to shareholders urging them to vote against.
But the rebel group has already gathered sufficient support to force their concerns on to the agenda for the annual meeting. It places the Celtic board in an awkward position even though they are confident the motion will be defeated.
Chief executive Peter Lawwell has declared himself satisfied with the SFA’s handling of the crisis.
It’s understood the Scottish champions are also acutely aware of how official action would heighten tensions between fans of the two clubs.
However, if enough shareholders back the proposals the board would come under enormous pressure to satisfy their wishes on the grounds of good corporate governance.
Which is why they have been forced add it to agm business.
The resolution says: “We consider the SFA governance has displayed a disregard for the rules and spirit of fair play, contradicted FIFA, UEFA and SFA mission statements and acted in contravention to the spirit of the rules of fair play outlined in FIFA, UEFA and SFA Rules.
“The specific complaints are:
“1. Unprecedented transfer of membership and granting of license to operate to an unqualified new club, facilitating queue jumping into the lower professional set-up at the expense of existing qualified clubs who had applied through the recognised process.
“2. Secret cross governance agreements to facilitate point 1, above which took place during the preparation and contrary to the ethos of the SFA’s own published mission statement.
“3. Participation of a new club in an SFA affiliated domestic club competition without proper registration compliance.
“4. Participation of the SFA in an inquiry on improper player registration, an inquiry the SFA declined to initiate on the grounds that; the SFA required to be neutral, maintaining appellate authority status, then not only compromising that neutrality by participation but providing an interpretation on player eligibility that UEFA and indeed FIFA should examine.”
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
But Celtic’s directors insist Rangers were dealt with fairly and have told shareholders: “The board considers the resolution to be unnecessary and recommends that you vote against it.”
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
I’ve said it before and I’ll say it again – Celtic are complicit in the corruption of scottish football.
I stopped long ago – paying, buying or giving money to celtic, sky and other firms associated with football.
The reason why I stopped – because Celtic are up to their necks in it.
The Celtic board have put money before integrity. They’ve sold their soul.
After reading that official Celtic board statement – any celtic fan who still gives money to Celtic need to take a long hard think to themselves.
(And I was a Celtic supporter, season book holder, etc, until this Sevco nonsense started) No more !
Even after everything that has happened, sportsound took my breath away tonight. Kudos to Spiers for at least questioning Murray on his see no evil stance. Keith Jackson piled in to the rescue just as Spiers had Murray cornered. So it’s as we all know….decency, probity, integrity, ethics, morality, company law, criminal law, SFA regulations, uefa regulations count for zero……all that matters is keeping Sevco afloat….nothing else….the rest of Scottish football must assume the position.
I have never expressed an opinion regarding the silence of the Celtic board….I can see both sides of that argument…..but I am now beginning to look to Peter Lawell, as the only man with the power and influence to call the SFA on their endless toadying towards the Govan club, the licencing issue is the perfect opportunity to clense the executive members of the SFA, they would have to go if this is as I u der stand it………..and I’d like to think messrs Thompson, Petrie, and Milne would support him.
Hartsons Comb says: (15)
October 14, 2013 at 7:37 pm
8 0 Rate This
The rebel’s claim they have the backing of 28% of the shares
—————————————————————
How to confuse a sevconian…ask him if he supports the rebels! 😉
I’ll get my jacket……..
Petition 996/13
Petitioners: P.Murray et alii for orders under Court of Session Act 1988.
Lord Tyre ( Colin Jack Tyre,CBE)
This is my quick summary of the proceedings today. I am, of course, not a lawyer, nor can I write shorthand. So this is only my own general understanding of the drift of things.
The whole day’s Court proceedings come down to this:
a) the only real grounds on which the Board were challenging the Petitioners was on the question of whether the Requisitions were ‘authenticated’ as per Section 338 subsecti.on 4(c) which says that a request “must be authenticated by the person or persons making it..” The other grounds ( ‘frivolous’, ‘vexatious’, defamatory’ and so on) were not adduced by the Board.
b)Counsel for the petitioners argued that being authenticated simply meant being signed by the person or his duly appointed representative.
The question of whether that ‘authentication’ was valid was one for the AGM to decide, and the Board had no right to rule on the question.
c)The requisitions had been properly authenticated by signature (not necessarily the signature of any individual shareholder but by the signature of authorised persons of the Shareholder Nominee companies acting on behalf of the shareholders.
d)The Board had carried on a ‘guerrilla war’, which they had no statutory right or obligation to do, by asking for further details of the signatories and identification of them.
e) Counsel argued that that was all stuff and nonsense. The plain meaning and intent of the Section had been met. Nevertheless, the petitioners had actually gone to the trouble of getting confirmation that the signatories had been authorised by the companies which acted for (and were wholly owned by) the shareholder Nominees companies.
f) Counsel stressed that the whole purpose of Section 338 was to prevent Boards of Directors riding roughshod over the wishes of the owners (i.e. the shareholders) by wrongly denying them the opportunity of having resolutions put on the agenda and debated at an AGM
g) Coming back to the difference between ‘authentication’ and ‘validation’, Counsel said that the law simply required that there be a shareholder name on the requisition in order to be ‘authentic’.
If there were doubts about forgery, or whatever, these would be for raising at the AGM.
It was not for the Board to decide that ‘validity’ was the test of ‘authentication’. They were obliged to accept a signed requisition as having satisfied the legal requirement, and proceed on that basis, leaving it to the AGM to consider its validity.
Counsel for the Board (Mr Curry QC)
a) agreed that if the Petitioners had not submitted answers to the Board’s requests for further details, the matter would have been closed, since the requisitions had been signed.
b) however, given that they had replied, then the matter in their replies was relevant and had to be considered.
c) that matter raised questions about the powers of the persons who signed on behalf of the COMPANIES which acted for the Shareholder Nominee Companies(e.g Bank of New York Nominees Ltd). It seemed to him that their authorised powers within their own companies did not extend to anything other than to making cash withdrawals up to certain amounts and to deal with other business relating only to their own companies, and did not allow them to sign on behalf of the Nominee companies.
That was about the sum and substance of the argument, as far as I could follow it.
The judge noted that no case-law had been presented, and was assured by Counsel that they were unaware of any, except one case under the old 1985 companies act which really could not be used under the 2006 Act.
When it came to the argument about expenses, Counsel for the Board argued that these should be borne by he Petitioners.Counsel for the petitioners argued that the £20-30000 was relatively little for a company with a capital valuation of £22m, and which paid its directors very well.
So, victory for the ‘shareholder’ against their Boards.
Interim interdict granted, preventing the AGM taking place on 24th October. (The petitioners had actually asked for ‘permanent’ interdict.But the judge said that in the practicalities of the case it would make no difference.
The judge gave no other direction. But, of course, the Board has to issue another notice of AGM and issue a statement from the Petitioners explaining (in under 1000 words) their petition. The judge made no comment or observation about what the Agm should or should not do in respect of their directors.
My personal view is that Counsel for the Board really had not a leg to stand on. They had a very weak case, and had probably advised the Board not to try to run with it. Certainly, it seemed to me that their heart wasn’t in it.
There was a chap from the Press Agency, and a girl from STV (online) and one other person, apart from myself, in the public ‘gallery’.
It was an enjoyable day out for me. Court kicked off at 10.00 a.m. An immediate adjournment as sought until 11.00 am. Then it was all go till 1.00 pm. Re-convened at 2.00 pm.
At 2.30 the last argument was done, and the judge retired to consider his judgement, which would be given not earlier than 3.30pm
This was duly done and then there was another wee spat about expenses (who says ‘follow the money’. Must have been a lawyer!)
This time about meetings and papers last week. The judge said he would decide only on today’s expenses, and consider anything else later.
I left the Court at about 3.50 and made my way up the few hundred yards to the central Library to use the pc. Had to wait a while.
Happy to answer as best I can from my scribbled notes and/or memory any other query
arabest1 says: (387)
October 14, 2013 at 7:53 pm
Even after everything that has happened, sportsound took my breath away tonight. Kudos to Spiers for at least questioning Murray on his see no evil stance. Keith Jackson piled in to the rescue just as Spiers had Murray cornered.
=====================================
Murray’s speech was noticeably quickening the more Spiers pressed him and he was clearly rattled. Jackson represents nothing other than a record low point for the BBC in terms of pundit quality.
Paul McConville @Paulmcc12 19m
Rangers’ Statement Tonight Reads as if They Won at Court Today! And It Blames their Lawyers and the Judge! http://wp.me/p1Adbc-16v
john Clarke
Was Sandy Bryson not called 😳 😯 😯
Why can’t I escape the conclusion there is an Ibrox friendly Journalist hanging around this site? Must be the amount of posts concerning the club from Ibrox that have a single TD.
john clarke says: (1241)
October 14, 2013 at 8:02 pm
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Wonderful report John and thanks for this. The freedom of public information, eh? Shines a light on the shadows where the spivs and shysters hide…. 😀
john clarke says: (1241)
October 14, 2013 at 8:02 pm
7 0 Rate This
Just to say thanks for a report of the proceedings which we can actually rely on! I’m amazed (and dismayed) that not one of the Scottish newspapers had a journalist present, for what was surely a big story for them.
I think we need to be patient on the SFA front ,the walls are about to cave in as the mortar has been scraped away and the slightest dunt will bring this tumbling down,the danger here is an immediate rebuild ,this is what Lawell has been brought in for or our game collapses completely,if CO goes and he will, they all must go,the game in Scotland and the governance has now just about reached its end ,the wage rises where CO and his spivs planned their final salaries pay off is as good as Charles plan you might think it was part of it ,dont be surprised as they must have thought the game would have been an Armegedon ,we are being taken for mugs again.
We’ll done, John, it really sounds like scraping the barrel stuff by the defence.
Combined with the fiasco over the King statement, in no other listed company would Mather survive as CEO for a nanosecond longer than the first opportunity for shareholders to kick him out.
fergusslayedtheblues says: (131)
October 14, 2013 at 8:11 pm
john Clarke
Was Sandy Bryson not called
——————————————————————————————
He was probably called something or other but JC is too much of a gentleman to put it in print. 😉
Thanks for the report JC.
“… was called in the Scottish courts to be heard today, Monday 24 October, 2013 by Lord Tyre.”
Do you think they will put out another LSE notice correcting the date error in their most recent one?
neepheid says: (838)
October 14, 2013 at 8:17 pm
Strange that you should find it so odd, neepheid. They will do what they usually do, wait for the PR puff piece from Jack the Lad! Besides, I doubt any one of them would be capable of matching our own court reporter.
I’d like to add my thanks to John Clarke who has again shown why this blog trumps the MSM every time.
john clarke says: (1241)
Thanks for that JC.
Basically he gave them the interim interdict and made it clear there was no legal basis for not accepting their original petition.
Did he mention or even hint at when they should arrange the AGM for, or is it just a.s.a.p. allowing for the new notice to be sent out.
Apologies John for not first of all applauding another superb article .
I went for a beer tonight and two of my Rangers pals where in ,not Sevco ,Rangers ,they have not been at a game for years and we were talking about the court decision ,one of them turned and said ,in all inocence this could be the end of Rangers as we know them, some people have to be given benefit of life.god love them.
Another day, another piece of Scottish law demystified.
Many thank to John Clarke.
Reason not other media there is that the rest of the Media are either:
Really part of one big company!!
Decided to save cost and just wait for the official RIFC version of events and just go with that.
As for P. Murray, Dave King, following Hirstute Pursuit/Southern exile (
October 13, 2013 at 5:32 pm) last night letting me know the rules re directors of liquidated companies, surely both are barred from a position with either RIFC or TRFC unless the court of session says so.
.
Surely the SFA “fit and propoer” test is irrelevant. (Reminds me of the Marx brothers joke in Duck Soup).
It is all still comically funny though…. There are now 3 rangers… RFC (IL), TRFC, RIFC and a rebel faction.
I have advocated to many friends/family who support the continuation of a “Rangers” to organise and get hold of the assets with their own money. It looks like if that happened now they would get a very stripped carcass, relative to the skeleton they could have acquired from D & P for a mere 5.5 million GBP.
Buddy
EDIT: corrected by southern exile, paul murray is not subject to the same provisions as dave King.
EDIT 2: as described here……
HirsutePursuit says: (425)
October 13, 2013 at 9:43 pm
21 0 Rate This
buddy_holly says: 5 comments
October 13, 2013 at 7:23 pm
1 0 Rate This
These provisions would seem to prevent Mr King’s ability to be
– a director of The Rangers Football Club Limited
– a director of RIFC, the holding company of TRFCL
– a substantial investor with influence over the operations of either of these businesses
unless he has applied to and received leave from a court with appropriate jurisdiction.
….
———————————————————-
…
Which court would it be Dave King applies to Court of Session? or a lower scottish curt?
should RIFC do this before his appointment?
=========================================
http://www.legislation.gov.uk/ukpga/1986/45/section/216
In subsection (3) “the court” means any court having jurisdiction to wind up companies; and on an application for leave under that subsection, the Secretary of State or the official receiver may appear and call the attention of the court to any matters which seem to him to be relevant.
http://www.legislation.gov.uk/ukpga/1986/45/section/120
The Court of Session has jurisdiction to wind up any company registered in Scotland.
The 5-year prohibition applies personally to those who were directors of the old club in the 12 months prior to it entering the liquidation process. The affected former directors are:
Andrew Ellis (removed by D&P 01/06/2012)
Craig Whyte (removed by D&P 01/06/2012)
David King (removed by D&P 01/06/2012)
Phil Betts (resigned 20/01/2012)
Before any one of the above named could lawfully become a director of the new club (TRFC Ltd) and/or its holding company (RIFC plc) he would have to apply for leave to do so at the Court of Session.
jimlarkin says: (549)
October 14, 2013 at 7:38 pm
Assurances from the SFA in 2011 are all very well, but what about what appears to have come into public awareness since then?
http://www.onfieldsofgreen.com/crystal-myth-the-untold-story-of-the-wee-tax-case/
The resolution I saw is not the one the DR is reporting on btw.
The only action point required by Celtic was to approach the UEFA CFCB, the rest was background not foreground.
Watching the shambles unfold on the dark side WRT AGM, I find it absurd that after their silence and shirking of their duty to Celtic shareholders and fans, that Celtic pipe up now with a statement akin to thems’. Basically warning shareholders on how to vote at the AGM. If they have pursued these points already i missed them telling me, they should have effing relayed that to those who should matter most, fucking outrageous statement and timing.
This could be my turning point right here. Without an explanation of what they have done, and why they would rather vote down the proposal, I am done.
Edit… Exiled, thank you, I had assume SSB had announced that CQN had released club statements (what I was outraged at). Turns out , I have jumped the gun now that I have checked. These guys need taking to task, I definitely heard him say Celtic had made some sort of statement.
Tif Finn says: (534)
October 14, 2013 at 8:36 pm
‘..Did he mention or even hint at when they should arrange the AGM for, or is it just a.s.a.p. allowing for the new notice to be sent out.’
—–
No, I think the judge remarked that they had to have it before the end of December under the normal rules. precisely when is a matter for them.
john clarke says: (1242)
October 14, 2013 at 8:53 pm
Cheers.
Basically they have to get it done within the stock exchange rules. What price a bit of a delay then and the AGM being held at the last possible moment.
Conversely, that would give the fans who support the rebels a chance to have a demonstration or two and they might want to avoid that.
To all those people coming on here irate at the nonsense printed in the DR – please note that no where in the paper article is a direct quote or contribution from anyone at CFC – the article is flawed because it is not correct about the AGM resolution contents – and as such is such a flawed piece of mischief making from the authors of Thugs and Thieves that I don’t understand why there is a fuss to believe the MSM here.
I will wait to see and hear what happens at the AGM
Until then I will disregard ALL so called news from MSM without it being challenged – others can read and believe what they want – does not mean I will
SouthernExile says: (120)
October 14, 2013 at 12:30 pm
@Auldheid
I really think you are barking up the wrong tree if you think UEFA would do anything about this.
It would open up a can of worms that they don’t want opened. At the top of the can would be Barcelona and Real Madrid.
Best to let it go.
++++++++++++++++++++++++
Personally I never thought the resolution would be accepted, or go to UEFA, (as welcome as a fart in a spacesuit to them) but what it has done already is to tell the SFA and the msm that clubs have shareholders whom they are answerable to and they have a voice and can exercise it. This has never happened before to my knowledge
Those voices will be heard at the AGM armed with what rules were ignored and what SFA statements were misleading
http://www.onfieldsofgreen.com/crystal-myth-the-untold-story-of-the-wee-tax-case/
and what I will be looking for is some form of statement that says the SFA, without prejudice, admit to mistakes in their processes and will undertake a lesson learning review whose recommendations to avoid a repeat will be published with a plan for action.
I think Peter Lawwell himself would be happy to be armed with that in his SFA role.
buddy_holly says: (7)
October 14, 2013 at 8:47 pm
6 0 Rate This
——————
Buddy
Just to stop another squirrel running, Paul Murray is NOT caught by by these provisions. He was not a director during the relevant period.
HP’s post at 21:43 last night confirms who are.
Auldheid says: (959)
October 14, 2013 at 9:22 pm
———————-
I regretted my post as soon as I put it up.
UEFA of course would do fa, but I admire your doggedness in making you club’s board squirm a bit!
Exiled Celt says: (699)
October 14, 2013 at 9:05 pm
Whenever I read an anti-Celtic story in the press, particularly on a major news day for RIFC, I remember this gem from Charlotte.
==========================================
Subject: Scotzine
From: Jack Irvine
Date: 4 November 2011
To: C_Whyte
Hello hello -We are both bigoted bears. http://www.scotzine.com/2011/11/rangers-owner-craig-whyte-meets-with-bigoted-vanguard-bears/?
From: Craig Whyte
Date: 4 November 2011
To: Jack Irvine
Another Celtic fan…
Sent from my iPhone
From: Jack Irvine
Date: 4 November 2011
To: Craig Whyte
We could do with a Celtic scandal. Heard anything that might fill the bill?
From: Craig Whyte
Date: 4 November 2011
To: Jack Irvine
I’m sure we can dig up something!
Sent from my iPad
========================================
Like leopards, your average PR guru, does not change his spots.
Auldheid says: (959)
October 14, 2013 at 8:53 pm
6 0 Rate This
jimlarkin says: (549)
October 14, 2013 at 7:38 pm
Assurances from the SFA in 2011 are all very well, but what about what appears to have come into public awareness since then?
http://www.onfieldsofgreen.com/crystal-myth-the-untold-story-of-the-wee-tax-case/
The resolution I saw is not the one the DR is reporting on btw.
The only action point required by Celtic was to approach the UEFA CFCB, the rest was background not foreground.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Regardless
Celtic (the board) seem he’ll bent on sweeping this sh1T under any available carpet.
The Celtic board do not want fans to ask questions about Truth and integrity.
The Celtic board just want our SB / merchandise / half-time draw money – any money, as that’s all the Celtic board are interested in.
And that is why I will never be back to Celtic park
– unless Celtic do ask awkward questions
I won’t hold my breath
Jimlarkin – that is your decision and one I have thought about doing as well – however my problem is that we would penalize myself and others for something the club had no guilt in – namely the financial steroids that were given to RFC that ultimately caused their demise. Celtic had no part in that – agreed?
I don’t agree that the Celtic board don’t want us to ask questions – and until the AGM is held and proves otherwise then I will give them the benefit of the doubt. There is definitely a terrible cost to safety should Celtic have ever spoken out – there is no doubt to that (see todays CQN regarding staff being trained in opening mail)
I think there is something that today needed a squirrel and as no1Bob says, the DR released it on request .
Here’s the real world. Try and place yourself inside the Celtic boardroom and ask yourself what you would do .
You have competed for years against an opponent who ignore the rules. Worse than that they actively conceal their rule breaking. They lie to anyone , Tax authorities or Football authorities, who asks if the entire player contract has been lodged with the SFA /SPL.
The outcome of this rule breaking, tax evasion, and deception resulted in strong criticism of individuals at Celtic. Criticism occasionally was warranted, mistakes were sometimes made. However overall, you were being asked to run in a 100 metres race where another runner was wearing illegal kit, had taken performance enhancing drugs and was allowed to start 20 metres down the track
Now when eventually your crooked opponent crashes and burns, you are asked to vote on effectively allowing them a free pass.
How can anyone, who doesn’t have a default position of kick the board, think for a second that the board would vote for this. After being cheated , personally and professionally , for over a decade.
Yet that is what we were being told in the Summer of 2012. Conspiracy theorists were screaming Celtic would vote for Rangers to stay in the SPL. It wasn’t true, it was never true, but it suited some agenda’s and played directly to those who get wound up without considering the logic of a claim.
And now,
We are being asked to believe it all over again. The logic of this is staggeringly inept. Ethically and emotionally a Vote for Rangers in the SPL was impossible . Financially Celtic were always going to vote against Rangers being invited into the SPL. A 3 year free run at the title, and CL monies, was a no brainer to say no.
What possible benefit is there to Celtic to state Rangers were dealt with fairly. They weren’t . You and I know that, Celtic know that, and were every bit as angry as we were over Nimmo Smith’s outcome.
Celtic though have to live in the real world. They asked the SFA and Uefa to investigate the issue of a Euro Licence. The SFA have zero incentive to out themselves as incompetent/ biased/ corrupt/ complicit. Therefore no joy there.
Uefa are a collection of national associations. They support their own , they will not take the side of ANY individual club over ANY national association. To do so undermines their own status and authority
That’s the real world. Celtic have to walk a delicate line, not least because they do not want an SFA veto on any potential future change in where Celtic play their competitive football .
thanks southern exile, used the edit facility to leave a correction.
buddy.
There IS a Monday 24th October.
It’s 2016.
Maybe the board are telling us something about expected timescales for the action.
Paul Murray on Sportsound tonight! 🙄
“Ground Hogs Day!”
Regurgitating the same old recycled c£^p. 😳
One thing the programme did show tonight is that Graham Spiers is suddenly growing a pair. Loved his comment about “Wealth off the radar” to Murray about King, in front of Jackson! In true Spencey fashion, he even mentioned the “Liquidation” word. Very brave!
FWIW, I agree with a lot of comments tonight that today’s judgement suits everyone at Sevco. It gives them more time to carry on whatever they are trying to carry on! It’s a real Soap Opera, isn’t it?
Funnily enough, the show ended with a final email read out by Kenny McIntyre from a “Chris Graham” asking why Spiers described King’s convictions in SA as a felony.
For Chris Graham’s benefit, It’s because he is a Felon according to SA Law, as explained by Spiers in his answer. Incase you’re hard of hearing Chris, HE PAID THE FINE RATHER THAN GO TO JAIL !
Chris, he was still CONVICTED. That makes him a FELON. Fortunately, he could afford to pay the fine and avoid going to Jail.
Hope you understand that, Chris?
BTW, before I forget, do The SFA have a “Fit and Proper Person” test for their own Top Staff? Just a question to throw out there?
p.s. Almost forgot.
Petitioners, Requisitioners, Shysters, Tax Dodgers, Liars, Spivs, Truth Spinners (MH, MSM), 2 faced Journalists (Take your pick?), 2 faced “Rangers Peepil” (again, take your pick?), Judiciary complicity, Scottish Parliament complicity, SFA complicity, the list just goes on.
This lot are just taking the Mick out of us all! This has been going on for over 2 years now. Someone, sometime has to make the decision to switch off the Life Support Machine!
I think Scottish Football can survive with it’s poison removed. It’s quite a simple operation, and like a Death in the Family, people will soon get over it and get on with their lives.
Heres the way I see it. From top to bottom. FIFA don’t care, UEFA don’t care, SFA don’t care. There you have it, in a nutshell. Corrupt to the core and do they care, not one jot. They have a captivated market, that can’t really go anywhere else. A legal Monopoly, a dream for the unscrupulous. Legal law-lords in other countries can’t or won’t ( rarely )intervene.
To cut a long story short, There’s enough people in the world that will step in and buy Tickets, Merchandise. The cycle goes on and on. Tell the people what they want to hear!! and if they don’t like it, someone else will take their place. If what we are trying to achieve is change for the good, I’m a ,”Glass half empty” man when it comes to Human nature and FIFA are not flowing with any of it. World Cup, Desert, Summer, say no more. I’ve lurked since the beginning of RTC and have loved every night, it just seems as if everybody in authority is up to their necks in it! Turkeys and Christmas
Ecobhoy has been posted missing for a while. Hope all is well.
SouthernExile says: (122)
October 14, 2013 at 9:31 pm
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Auldheid says: (959)
October 14, 2013 at 9:22 pm
———————-
I regretted my post as soon as I put it up.
UEFA of course would do fa, but I admire your doggedness in making you club’s board squirm a bit!
+++++++++++++++++++
No problem . I am well aware I’m obsessive about wanting fair play. Doggedness is spot on. My wife calls me Jack Russell 🙂
Do we change our way of thinking. We know the foot soldiers, we know their Captains and we know the Dons. Should we not aim higher, “Aim for the Stars, to shoot the Moon”. If we can bring down a higher profile, maybe something more will happen. Not just the filth in our backwater but the filth further afield. It just seems to me, there aren’t any blogs dedicated to the corruption of football as a whole as this blog (and the talent that goes with it).
Not just a, “Scottish Football Monitor” but a, “Football Monitor”. Or is that to big? Maybe OT, I’ll get ma coat! 😀
HirsutePursuit says: (426)
October 14, 2013 at 11:41
Ecobhoy has been posted missing for a while. Hope all is well.
+++++
Aye right enough, it is the school week mind you.
HirsutePursuit says: (426)
October 14, 2013 at 11:41
Ecobhoy has been posted missing for a while. Hope all is well.
______________________
Indeed. I haven’t seen him around in a while. Hope he is ok.
! would like to hear what he is making of all the latest goings on.
On both sides of the great divide.
We could start a conspiracy theory on the recent disappearance of EcoBhoy and see who comes up with the most plausible pile of nonsense 😆
For Chris Graham’s benefit, It’s because he is a Felon according to SA Law, as explained by Spiers in his answer. Incase you’re hard of hearing Chris, HE PAID THE FINE RATHER THAN GO TO JAIL !
For Chris Graham’s benefit, It’s because he is a Felon according to SA Law, as explained by Spiers in his answer. Incase you’re hard of THINKING Chris, HE PAID THE FINE RATHER THAN GO TO JAIL !
Fixed that for you ….
MercDoc says: (5)
October 15, 2013 at 12:08 am
———————————————————–
I think all of us wanting our pound of flesh, shouldn’t underestimate the enemy.
Perhaps two of Sun Tzu’s (paraphrased) quotes could point the way:
The supreme victory is won without fighting and build your enemy a golden bridge for his retreat.
Totally OT I know, but It’s what Putin did to and for Obama in Syria (IMHO).
I hope it’s what PL is doing from inside the SFA, I think that’s probably our only chance of change.