1,627 thoughts on “Small Price to Pay?”

1. 
   

   TINCKSFEBRUARY 7, 2017 at 23:28
       
   In a hypothetical situation of BDO winning their case against Duff and Phelps would this count as gratuitous alienation?  I’ve no idea, I just don’t have that sort of knowledge.  Is anyone able to shed some light on this?
   And if it was found to be gratuitous alienation then what would the consequences be, if any, for TRFC/TRIFC?
        ————————————————————————————————————————–
      There could be many outcome scenarios TINCKS, ranging from the sale being unwound, or to the new owner being pursued for a fair price.
   http://www.morton-fraser.com/knowledge-hub/gratuitous-alienations-and-adequate-consideration

       Interestingly, D&P have made a point about the timing, implying that the 5 year rule applies

   If the transaction is in favour of someone associated with the insolvent company, then transfers dating back 5 years from the date of insolvency can be undone. If the transfer is in favour of someone other than an associate then the relevant time period is 2 years. –

   ;It would be fair to say, that the transfer was not to DCK, nor, did he appear to be involved, But in the first paragraph it says this

     “It is usually fairly easy to identify whether a transaction is a gratuitous alienation -, the company has given something away (like a property) and received nothing, or not enough, in return. The intention of the company when making the transfer doesn’t matter, it’s the effect.  
      
   Effectively it is now in the hands of a former director.  It would take someone of Paul’s ability to really decipher and explain the possible, or probable outcomes. 
      It could well be that certain allegations as to the identity of some of the CF characters, may raise its head.    If there is any truth that a convicted tax-dodging criminal actually played the part, several dots may find a number appearing beside them
2. 
   

   Re: English FA reforms.
   (My highlighting.)
   “…
   In order to comply with a new governance code for all sports governing bodies, the FA will have to show it is increasing the diversity of the its leadership. There is currently only one woman on its board.

   The FA will also have to demonstrate greater transparency in decision making, and its plans to make the 122-member FA Council, which currently only has eight women and four black and ethnic minority members, more representative of the game.
   Mr Clarke is in the process of trying to persuade the council, whose antiquated membership includes representatives of the services and Oxford and Cambridge universities, to relinquish some of their powers and privileges.

   For almost 20 years, they have managed to resist precisely such reform.”
   ================================================

   Would the SFA have any comment on these reforms forced on their neighbouring FA?  

   IIRC, the SFA also receives significant public funding.

   http://news.sky.com/story/fa-chairman-greg-clarke-threatens-to-resign-over-reform-10759884
3. 
   

   It is very good news indeed that “The joint liquidators consider that the former joint administrators failed to take actions which would have reduced costs during the administration period and realised additional value from the company’s assets over and above that obtained from the sale of the business and assets to Sevco.”
   No harm to BDO, but I think the world and his wife knew that the assets of what had been the historic Rangers Football Club ( which the Administrators failed to rescue fom Administration and keep in existence as a ‘going concern’, but which went into Liquidation instead, owing possibly tens of millions in tax etc)) were and are worth a good deal more than the sum paid to the Administrators for them.
    I’m just a wee bit disappointed that the Liquidators use the phrase ” sale of the business and assets to Sevco” as if RFC(IL) simply changed hands. If that had been the case, there would have been no need  for CG to found a new club and apply as a new club to join a league and seek membership of the SFA.
   But of course, a new club was founded and had to apply for membership of the SFA and SPFL.
   If the matter goes to Court, I relish the prospect of attending. We might possibly  hear some of the dirty stuff that was spoken of between CG and D&P and our Football Governance people. I can’t imagine that the 5-Way agreement discussions did not involve some ‘assurances’ from the ‘Guardians of our Sport’s integrity’ that the new club would be neatly accommodated in the SPL and allowed to advertise itself as being the old RFC, even while that entity is still legally alive and in huge debt, and ceased to be a member of the SFA when it entered Liquidation.
   I honour the memory of Charles Chipps, the South Africa Revenue Service tax inspector who was instrumental in nailing a big tax evader. BDO deserve equal honour for their persistence in trying to find monies to pay the creditors of RFC(IL)
   And for the deliciously sweet timing of their announcement- one week to go before they would have been time-barred.
   The Administrators must have thought they were home and dry as far as further involvement with the’ saga’ is concerned.
4. 
   

   JOHN CLARKFEBRUARY 8, 2017 at 05:45
   I’m just a wee bit disappointed that the Liquidators use the phrase ” sale of the business and assets to Sevco” as if RFC(IL) simply changed hands. If that had been the case, there would have been no need  for CG to found a new club and apply as a new club to join a league and seek membership of the SFA.

   Indeed JC, and proof that Rangers FC did not simply change owners is amply demonstrated by Hearts, who, having come to an agreement with the club’s creditors, came into new ownership by way of Ann Budge’s Bidco 1874. Despite being under new ownership, Hearts did not have to apply for SFA membership or apply to join the then SPL. No secretive five-way agreement was necessary in Hearts case because the club did not enter the liquidation process, so there was no continuation myth to invent, expound and promote.
5. 
   

   I’m just a wee bit disappointed that the Liquidators use the phrase ” sale of the business and assets to Sevco” as if RFC(IL) simply changed hands.

   JC,
         but what I took from that was “Sevco” being used at all and in doing so shows that it couldn’t have just changed hands that a new entity is sandwiched in the middle. Or am I gettin’ this all wrong ?  
6. 
   

   Funding target now reached.
   On Wednesday, two days ahead of schedule, we have surpassed our target by raising £1537.
   The response has once again been excellent, so our thanks to everyone who has donated and to all who subscribe.
7. 
   

   Interesting wee piece on Sportsound last night (was in and out of car so didn’t hear who it was covering) re the Europa League and the fact that the Scottish reps will all be in the 1st round qualifying.

   Basically a breakdown was given re what money is to be made per stage and how that compared with the CL.
   The link below shows the intended prize money from qualifying right through to the final.

   http://www.totalsportek.com/money/europa-league-prize-money/

   So to bag around €15-16m our 2nd/3rd teams and cup winners will need to get through all the qualifying groups, win every game in the group stage and then win the trophy.

   The Champions League breakdown is here

   http://www.totalsportek.com/money/uefa-champions-league-prize-money/

   So managing to get to the group stages  trumps winning the Europa League in terms of prize money.
8. 
   

   JC/Highlander,

   I took it the other way tbh.  BDO can’t really argue with the termination of the club with which they are tasked per se since all the footballing processes – the vote to enter, the 5WA to transfer etc are consistent with BDO’s understanding of the thing that they are now liquidating (and as opposed to the ‘Hearts’ experience). 

   However Mr Mackenzie has just attempted to persuade a court that theres a new ethereal thingy (copyright BP) called a Club.  BDO seem to be saying ok, so how much was that worth and how much was it sold for to the benefit of our creditors?  But before Rodney stands up and spout his p!sh about sale for a £1 what BDO seem to be saying is that this ethereal Club thingy seemed to be, in the eyes of the administrators in February 12, to be worth forgoing player sales (although could they with no window?) or at the very least continuing to pay them when immediate termination to save the wages was possible.  Thus the Club can’t really have NO value, it would need to be added to the asset pile and valued accordingly.  It just moves us further down the franchise/brand name route and once again asks the question what exactly did Green buy, which to be fair Green could hardly have been clearer on.

   Of course it would be so much easier on D&P to present the court with a wee email from O,D&R offering a place to a new club (old Club) in the SPL.  That would make their strategy so much clearer and would pretty much get them off a 29m hook.   
9. 
   

   OOPS! Old news
   Liquidators Of Rangers chase £29m
   08 02 2017 DR page 4 
10. 
    

    Corrupt officialFebruary 7, 2017 at 22:46
    Could BDO’s claim throw a spanner in the SFA’s cornflakes?    I believe the assets were only sold so cheaply, mainly because Crumbledome, and Minty’s Park, only had value to a football/Rugby club or similar.    At the time Sevco were neither of these things, (although fully intending to become one) Chuckles is on record stating he never bought a club, but a basket of assets. However 6th floor of Hampden, although mostly they have shied away from a direct answer, appear to be of the view that he did buy a club.    Ergo he must have did so at the point of sale.   D & P look like they will contend this, as they never sold the assets based upon a much higher valuation, (i.e. the value to a club) which they should have done if Chuck had bought, “A Club” at the point of sale   That puts the SFA in an indefensible position (I know).    The “buyer” on record as stating he never bought a “club”.   And now the “seller” saying they never sold a “club”    But the SFA/SPFL saying. “But he did, he did buy a club”  
    ———————————————————————————————————————————-
    Loving that idea, CO, and that could well be BDO’s thinking rather than the already expressed ‘should have been sold individually’ approach.
    So D&P would then have the choice of saying “We DID sell the club, so should have got more – you’re right, here’s your £28m” or saying “No, of course it was only some buildings and stuff, so we got the best we could for them”.
    I doubt D&P are rich enough to choose option 1, so everyone agrees it’s a new club. Exit stage left, Regan, Doncaster et al…..oh and the glorious history.
11. 
    

    Corrupt official  February 8, 2017 at 00:56

    CO.  Thanks for the reply.  What an unholy mess. 
    ————————————————————————

    Where does this leave the shareholders/directors that backed DCK in the takeover two years ago?  Whilst well off by my standard they are not “off the radar” wealthy.  If PMG’s sources are correct then last months and this months payroll are only going to be met by means of soft loans from directors.  By all accounts DCK has not and will not be putting his short arms into his deep pockets.

    So these directors seem to have only one option, to keep digging deep in order to limp through to season ticket renewal and then pray for a miracle in Europe next season.   They can surely only be hanging on in the hope of getting back the money they have already pumped in.

    However, they will have a list of bullet points on a sheet paper very similar to those in BP’s blog.  Indeed, perhaps a few more that we are unaware of.  At what point do they decide that the game is a bogey and that all they have invested in is a leaky old boat called HMS Good Money After Bad?

    And now legal action that (even if a remote possibility) could result in the sale to Charles green being unwound. 

    How long can these shareholder/directors hold out before walking away?
12. 
    

    To talk football for a moment, my belief is that TRFC* are a poor team and that the only reason they have achieved the points they have is that a lot of opposition teams approach games against them as if they were the strong, old Rangers of yore. A comparison of home/away form could be seen to back up this theory with teams performing poorly at Ibrox as the surroundings and crowd numbers etc appear to confirm this negative perception.
    It is noticeable that teams with managers well versed in the old Rangers (E.g. Mark McGhee recently) perform less well than, say, Hearts under younger guys like Neilson and Cathro. Don’t get me wrong, I realise both of these would know the strengths of the old Rangers.
    My post is prompted by the ‘Jim Duffy’ article from the BBC today, where he talks about Morton doing their best in the Cup on Saturday, but describes a possible win as “a monumental upset”. I think JD is a good manager, but wonder if a negative mindset will already be transmitting to his players.
    I’ve never managed, but wonder if the “what an achievement this will be” approach inspires or inhibits players. Would he be better to instil the view that “this lot are poor – just remember they’re not the good Rangers that you grew up with”?  
13. 
    

    nawliteFebruary 8, 2017 at 12:23
    So D&P would then have the choice of saying “We DID sell the club, so should have got more – you’re right, here’s your £28m” or saying “No, of course it was only some buildings and stuff, so we got the best we could for them”.I doubt D&P are rich enough to choose option 1, so everyone agrees it’s a new club. Exit stage left, Regan, Doncaster et al…..oh and the glorious history.

    Won’t make any difference. Usual suspects will be rolled out in the press to go ‘In my opinion, it’s the same club……’, because we’re now in the era where opinion is given equal footing as actual, bona fide facts…….
14. 
    

    NAWLITEFEBRUARY 8, 2017 at 12:23
        “Loving that idea, CO, and that could well be BDO’s thinking rather than the already expressed ‘should have been sold individually’ approach.So D&P would then have the choice of saying “We DID sell the club, so should have got more – you’re right, here’s your £28m” or saying “No, of course it was only some buildings and stuff, so we got the best we could for them”.I doubt D&P are rich enough to choose option 1, so everyone agrees it’s a new club. Exit stage left, Regan, Doncaster et al…..oh and the glorious history.
          ——————————————————————————————————————————
        To which BDO reply, “If you just sold chunks of assets, why did you not break the assets into smaller chunks?”
       This would have raised a far superior return, and is really incalculable at auction. The marble staircase could go to a wealthy American home, The board table to a business, The contents of the trophy room, grounds-keeping equipment, office furniture, massage tables, computer equipment, gymnasium gear, PA systems, scrap metals, art-work on the walls, old jerseys and programmes, memorabilla, historical signed documents, that avoided the shredder, Mo Johnstone’s transfer forms, photos, medals, massage tables and heat lamps etc. Salvage of doors, windows, and plaster mouldings.  Half the west coast could have garden walls built with the famous red-bricks, and a boon for Scottish brickies doing homers.  
       Even the turf and 50,000 2nd hand seats would have brought substantial returns(individually or in blocks). I’m sure some wealthy European clubs would want items relating to them, preserved and held in their own archives. Even the SFA would bid for stuff. 
       The list is really quite hard to exhaust. 
       And that is before adding on player sales, and the eventual land deals.
       D&P might point to the timeframes in achieving all this, but here we are, 5 years later, and the creditors have still not been reimbursed for their losses.
        There really is no way to 2nd guess how this will play out in court, but unlike the tax-case at the SC. This one could seriously impact on Sevco, and in turn, as you point out, the backlash on the SFA. 
15. 
    

    Nawlite

    To which I’d only add that the respectful fall back defence position beloved of so many (I’d include McInnes on your list btw) plays into the hands of Warburtons one and only game plan, to quickly attack from deep with superior passing, overlapping and movement.  Press them no better demonstrated by Hearts, twice, and he’s forced to switch to his plan B.  And that’s where he’s being caught out. 
16. 
    

    SmugasFebruary 8, 2017 at 10:58
    ‘….Of course it would be so much easier on D&P to present the court with a wee email from O,D&R offering a place to a new club (old Club) in the SPL. That would make their strategy so much clearer and would pretty much get them off a 29m hook.  ‘
    ___________
    I know what you mean, Smugas.
    In my opinion, the Administrators tried, in collusion with the Football authorities,  to work a flanker by means of which they planned that the RFC of SDM/CW should  escape the consequences of Liquidation as a football club, even though they had in law been liquidated, by the artifice of claiming that , in effect, they had been( honourably)! bought, and brought, out of Administration, like, for example, Hearts, and that Sevco/TRFC was the very Rangers of Scot Symon and Don Kichensink and John (break a leg) Greig.
    The price paid by our Football Governance people for assisting in that flanker was, of course, the very soul and spirit of  sporting integrity.
    And BDO’s digging into the Administration ( where is Lord Hodge?) might, we hope, clear up a few things.
    the Murrays, the Lawwells, the Regans and the Doncasters and the general run of club owners already, personally ,know that they are guilty men.
    They will know that on their death-beds.
    And their sons and daughters and grandchildren will know of the shameful deeds they performed or allowed to pervert Scottish Football.
17. 
    

    From TRFC website – mibbes a pointer to their problems with numeracy .
    The Light Blues faced Greenock Morton four times in 2015/16, winning four times and drawing the other.
18. 
    

    Hello again, still here,
    My recollections of the Administration are that everyone, was writing about how this was the strangest event that they could recall?
    I take the view that Rangers thought they had so much clout with the SFA, that everything would just continue as normal, and the Administrators went along with that opinion.  This is probably shown by the fact that they tried to buy Daniel Cousins, in the middle of this crisis!
    I think the SFA still hang on to the coat tails of Sevco, and all the rule changing that went on back then were possibly, dodgy to be polite, or corrupt, which maybe one day will be proved in a Court of Law?
    Only when the guilty men are punished, will the Scottish Football Association, have any respect from me!
    Thanks to all the regular contributors, who educate me a little bit more each day.

    Jimmy Bee Jay
19. 
    

    Corrupt officialFebruary 8, 2017 at 00:56 
    TINCKSFEBRUARY 7, 2017 at 23:28      In a hypothetical situation of BDO winning their case against Duff and Phelps would this count as gratuitous alienation?  I’ve no idea, I just don’t have that sort of knowledge.  Is anyone able to shed some light on this? And if it was found to be gratuitous alienation then what would the consequences be, if any, for TRFC/TRIFC?      ————————————————————————————————————————–   There could be many outcome scenarios TINCKS, ranging from the sale being unwound, or to the new owner being pursued for a fair price.http://www.morton-fraser.com/knowledge-hub/gratuitous-alienations-and-adequate-consideration
        Interestingly, D&P have made a point about the timing, implying that the 5 year rule applies
    If the transaction is in favour of someone associated with the insolvent company, then transfers dating back 5 years from the date of insolvency can be undone. If the transfer is in favour of someone other than an associate then the relevant time period is 2 years. –
    ;It would be fair to say, that the transfer was not to DCK, nor, did he appear to be involved, But in the first paragraph it says this
      “It is usually fairly easy to identify whether a transaction is a gratuitous alienation -, the company has given something away (like a property) and received nothing, or not enough, in return. The intention of the company when making the transfer doesn’t matter, it’s the effect.      Effectively it is now in the hands of a former director.  It would take someone of Paul’s ability to really decipher and explain the possible, or probable outcomes.     It could well be that certain allegations as to the identity of some of the CF characters, may raise its head.    If there is any truth that a convicted tax-dodging criminal actually played the part, several dots may find a number appearing beside them
    _____________________

    I think this would only refer to people involved at the time of the sale of the assets, not to someone like King, who, despite his association with RFC, was not involved with Sevco when it purchased the assets. On the other hand, I would imagine it would be possible to prove that Charles Green was associated with the insolvent company, or, through his association with Craig Whyte, stood in his place, and was obviously the main man behind Sevco. D&P had an obvious link to Green, too, and seemed especially keen for the assets to go to him.

    Of course, unless I’ve missed it, there has been no mention, so far, from BDO that they are pursuing the matter as ‘gratuitous alienation’ and it may be that they are only going after the administrators as failing in their duty and will not chase the assets, even if successful in court.

    I have a total layman’s feeling that this case, should it go all the way to court, will run like the BTC all the way to the Supreme Court, with HMRC determined to set some precedent that will make insolvency practitioners much more ‘creditor friendly’ when carrying out their duties!

    Something that has to be remembered is that BDO have been on the inside of RFC for almost five years now, sifting through all the remaining (unshredded) documents, and must be very confident that they have a case before proceeding!
20. 
    

    Extracted from DR / Parks, Gannon article ; 

    “…You get similar sonic booms over the city at Ibrox. Forget about this internet nonsense about the place falling to bits, when Ibrox is packed and pounding the roof shakes…”
    ======================================
    …well the ‘nonsense’ was indeed about a shaky roof. 

    IIRC, was there not confirmation from a Govt. source [?] that there was an issue with Ibrox stadium, which GCC was ‘dealing with’,

    Does anyone know any more ? 
    Did the rumoured netting appear and /or has any work begun on the stadium ?
21. 
    

    StevieBCFebruary 8, 2017 at 15:59

    I think it was mentioned in King’s famous Q&A session that £500,000 of roof repairs and various stand refurbishments were necessary, with a similar note in the year end accounts as contingent liabilities. I have still not read anywhere that these repairs have been carried out, or even started yet!

    Now why would the need for repairs be mentioned, then no one mention that they’d be carried out? Either the need for £500,000 of repairs was a lie, or, for some reason, it has been decided to not carry them out. Mr Gannon might serve his main readership better by seeking answers to that conundrum from the appropriate man at Ibrox!
22. 
    

       “I think this would only refer to people involved at the time of the sale of the assets, not to someone like King, who, despite his association with RFC, was not involved with Sevco when it purchased the assets. On the other hand, I would imagine it would be possible to prove that Charles Green was associated with the insolvent company, or, through his association with Craig Whyte, stood in his place, and was obviously the main man behind Sevco. D&P had an obvious link to Green, too, and seemed especially keen for the assets to go to him.
    Of course, unless I’ve missed it, there has been no mention, so far, from BDO that they are pursuing the matter as ‘gratuitous alienation’ and it may be that they are only going after the administrators as failing in their duty and will not chase the assets, even if successful in court.”
        —————————————————————————————————————————
       I must confess to having no expertise in these matters also, but on reading the Morton Fraser article, any association between Green and the liquidated entity would appear to have a two year time bar. 
       Whereas D&P have indicated that matters are commencing within the five year frame, and provides a wider scope covering the “effect” as opposed to just the initial transfer. (Probably to negate the use of a short-term middleman).
       I accept, that BDO may be seeking damages directly from D & P, but the figure claimed, must be based on something, and at the very least demonstrable. Either way, BDO are seeking answers as to WTF was going on. The switcheroo, the legit or faked signatures, negotiations, intentions, agreements, valuations etc. All could come under the remit as to what they are actually seeking answers to, and hope to have addressed by the court. 
       I think it unlikely that D & P are likely to admit culpability, and will attempt to defend the action, and avoid reputational damage and possibly the withdrawal of whatever lucrative practitioners licenses they possess. 
       It will either get very very messy (for some) or an out of court (without prejudice) settlement is my feeling, but if criminal law has been broken outside of the previous prosecutors framing of charges, (currently being debated as a monumental eff up), then who knows…………..?
        It;s intriguing !
23. 
    

    “I think randomness is a big thing”
    …
    “I learned a lot from our previous owner at Brentford. He’s a mathematician and we learned a lot from him in terms of how he looks at games.”
    …
    “There were so many random natures that didn’t go our way. Was their goal offside? I don’t know, it was tight. Not worth complaining about now.
    “So these are the random natures you look at and you hope over the course of a season they even themselves out…”

    http://www.eveningtimes.co.uk/sport/15077930.Mark_Warburton__Random_nature_of_football_has_gone_against_Rangers/
    ================================

    Ah, right.  Now I understand !
    The 67  [  ] consecutive, home cup draws for TRFC is just random.
    Fair enough.
24. 
    

    A good blog from two hundred percent on the Kinloch v Corals case. Contains an interesting timeline of events from end of season 2011/2012 to TRFC entering SFL.

    It reminds us that a decision should soon be forthcoming.

    http://twohundredpercent.net/curious-case-rangers-relegation/
25. 
    

    Allyjambo February 8, 2017 at 17:11 
    A good blog from two hundred percent on the Kinloch v Corals case. Contains an interesting timeline of events from end of season 2011/2012 to TRFC entering SFL.
    It reminds us that a decision should soon be forthcoming.
    http://twohundredpercent.net/curious-case-rangers-relegation/
    ==========================
    I read it earlier.  It’s a decent article but there are some inaccuracies in it.  It is Albert, not Arthur Kinloch. It is Rod, not Rob McKenzie.  Also the club entered liquidation on 31 October 2012, not 14 June. The timing of that event was actually discussed in court.
26. 
    

    I was checking the court rolls to confirm that the latest hearing in the Fraudco trial was still going ahead at Edinburgh High Court on Friday of this week, but it is no longer listed.  However it seems that Whyte was in Glasgow High Court on Monday. I don’t know what this hearing was about

    HMA v Craig WHYTE 06-FEB-17 Miscellaneous/Incidental Application SCS/2015-152941 CO14000356 Glasgow HC

    Lord Bannatyne also appears to have casework scheduled at the Court of Session on Friday. 

    Edit – Looking at later Rolls, it looks like the criminal hearing has been put back four weeks until 10 March.

    HMA v Craig WHYTE 10-MAR-17 Criminal Preliminary Hearing SCS/2015-152941 CO14000356 Edinburgh HC
27. 
    

    easyJamboFebruary 8, 2017 at 18:47
    _________________________________________________

    Thanks for that EJ.
    Apart from the ‘inaccuracies’ I liked the plain language/interpertations of this article.
28. 
    

    AllyjamboFebruary 8, 2017 at 17:11
    __________________________________________
    And thanks, AJ, for sharing it
29. 
    

    jean7brodieFebruary 8, 2017 at 19:12

    Glad you enjoyed it, Jean.

    As EJ said, there were one or two minor inaccuracies, but I found the timeline quite enlightening, and felt that that alone would have proved Corals’ case without any need to move into the dangerous waters of liquidation. For one thing, I can’t imagine any form of relegation that would actually have a timeline, it would, surely, be an instantaneous event, not an ongoing affair of repeated attempts to find a level at which the club could enter. Having shown that timeline, a simple question would have been to ask Kinloch’s counsel, at what point were Rangers relegated? I doubt anyone could have answered that.
30. 
    

    I see Mark Warburton is being slagged for near misses in games.  The ‘ransdomness’ of shots on target.  Often a stud away.  He’s not wrong.  Anyone who has played snooker or pool knows that a micro inch makes the difference of potting a ball. I’ve never been a footballer but it seems the same to me when in an instant a player takes a shot on goal fine differences are so important. 

    I think of Henrik Larrson, not a tall man, heading in a ball into the goalmouth.  His whole body was instinctively geared towards that space in front of him.  Nowadays, Griffiths, Dembele, and Armstrong do with their feet, legs.  Is it a gift?  It happens too often to be random.

    I’m sure you all have your players who just seem to be ‘natural’ goal scorers.  When I see it, I jump up and down and yell happy things.  Be it at the match, in the pub or in the house.
31. 
    

    Jimbo, it’s one of the things I still love about football, despite all the money bollox, corruption, chancers, hatred etc – that pure skill when done right is just wonderful to watch.
    Something Mike Parry of Talksport (who is generally an arse by the way) said when talking about Wayne Rooney scoring his overhead kick (against City?) really struck me as true. He claimed Rooney was actually a Physics genius for being able to achieve that. At first, I thought “Typical radio bullshit to generate arguments and therefore calls”, but when you think about scoring goals (and having done it myself, as I’m sure we all have) the innate understanding and calculations required to do it are actually phenomenal.
    Think even about something simple like scoring a header from a cross. In (split-) seconds you have to think about the flight of the ball; the pace of the ball; your own pace and angle of run/jump to allow you to meet the ball at the best place for you to reach it first. You then need to think about which part of your head will best angle the ball to the area of the goal you want to put it to give the best chance of scoring as well as considering whether or not you need to use your neck muscles to help divert it there. Added to all this – in seconds, remember – you need to see where defenders and the goalkeeper are to know before doing all of the foregoing what you need to do to be the first to the ball.
    Wow, stop and think about that – you need to have a real understanding of physics; geometry; biology; kinetics; spatial awareness; velocity; gravity and more, all just to score a header. It’s a wondrous game which is why we all love it so much, of course.
    Disclaimer: Unless, of course, you are Joe Garner, in which case……
32. 
    

    NAWLITE
    FEBRUARY 8, 2017 at 20:54 
    Jimbo, it’s one of the things I still love about football, despite all the money bollox, corruption, chancers, hatred etc – that pure skill when done right is just wonderful to watch.Something Mike Parry of Talksport (who is generally an arse by the way) said when talking about Wayne Rooney scoring his overhead kick (against City?)…
    ===========================
    Yes, against City, and it made cheer out loud in delight in front of my shocked family !

    At that level it must be mostly instinct – and also as a result of the ‘10,000 hours’ practice, [or a variation of that total].

    If you have to think about what you are going to do, then the opportunity will be probably disappear just as quick.

    Which makes breath-taking strikes like Rooney’s all the more special as you can appreciate their technical ability and instinct to execute the spectacular and unexpected – and all in an instant. 

    Not too many crowd-pleasing players like that these days however.
33. 
    

    ALLYJAMBOFEBRUARY 8, 2017 at 20:11
    at what point were Rangers relegated? I doubt anyone could have answered that.
    ——————–

    Something i said during the Kinloch v Coral case, all they had to do was ask on what day were rangers relegated?.
34. 
    

    EASYJAMBOFEBRUARY 8, 2017 at 19:02
    Edit – Looking at later Rolls, it looks like the criminal hearing has been put back four weeks until 10 March.
    HMA v Craig WHYTE 10-MAR-17 Criminal Preliminary Hearing SCS/2015-152941 CO14000356 Edinburgh HC
    celtic v TRFC…March.
    sports Direct v rangers….March.
    Supreme court tax case, March.
    ———————
    All holiday leave has been cancelled for the Mods for March 2017
35. 
    

    Duff&Phelps were complaining about the media leaks that see BDO looking for millions. BDO had a creditors meeting in January, Did they let anyone know who was at that meeting that BDO may be seeking damages directly from D & P,
    If they did could the leaks come from a creditor? and if BDO did not tell anyone at the creditors meeting they were going to seek damages from D &P. Who leaked it to the media?
36. 
    

    nawliteFebruary 8, 2017 at 20:54

    Yes, football is an amazing sport, as are many others, and the ability to do the things you describe, at various levels of ability, is just down to one thing – talent. I remember many years ago watching a program about Viv Richards, that amazing West Indian batsman and how they set up an experiment that showed he could react to a change in the direction of a ball (swing in the air or off the pitch), bowled at over 90mph, in a reaction time shorter than science believed possible. It will be similar for footballers, the most talented of whom can do things that defy, if not science, then what our eye might suggest is possible. The most talented players seem to sense where the ball is going, or where it will end up, in the blink of an eye, without time to possibly think of where it might go, not to mention the amazing body shapes they take up to execute the shot or clearance!

    And yes, so much is ‘random’ about football, in that you cannot plan for or against it, and one of the truly great things about football is that one team can batter the opposition, for 90% of the game, and still lose from a fluke goal. So ‘random’ is the very nature of the game, and no more of an excuse for bad results than to say, ‘the ball is round’. The secret is to be good enough, or talented enough, to take advantage of the randomness of football, or, as some call it, ‘the breaks’.

    And, of course, all sides can benefit from the randomness of the game. Didn’t his club win, to date, their greatest ever victory in that very random fashion of being outplayed by your stronger, more talented local rivals, only to win on the ultimate randomness of a penalty shoot-out, that then took them onto that most random of events, a Hibs Scottish Cup victory? (no offence meant to Hibs or their supporters)
37. 
    

    Cluster OneFebruary 8, 2017 at 21:27 
    Duff&Phelps were complaining about the media leaks that see BDO looking for millions. BDO had a creditors meeting in January, Did they let anyone know who was at that meeting that BDO may be seeking damages directly from D & P, If they did could the leaks come from a creditor? and if BDO did not tell anyone at the creditors meeting they were going to seek damages from D &P. Who leaked it to the media?
    ___________________

    Was it not announced by BDO in an official statement? I think D&P were complaining that BDO had announced it with only a week before the expiry of limitation, as though it just wasn’t cricket , not that it had been ‘leaked’.
38. 
    

    I was just looking at some pictures on another forum of the support truss now in place for the new stand at Tynecastle. You can see what is already an intimidating ground will become even more so once the stand is complete.  On a wider note though it is evidence of what can be achieved at a football club which had hit such a low ebb.  Three years ago who would honestly have believed Hearts would be able to build a new main stand? Fans digging deep with no sense of entitlement, and hard nosed business people in charge who run the club on a fully transparent basis. There’s a lot to be said for it. 
39. 
    

    ALLYJAMBOFEBRUARY 8, 2017 at 21:38
    Thanks for clarification
40. 
    

    It’s late so a small question if i may?
    I meant to ask yesterday.
    When Aberdeen and Hearts released their accounts, the added the part if i remember correctly the part about everything in line with FFP 
    did celtic do the same?
41. 
    

    Valuing business assets is generally a straightforward matter. It’s a function of the revenue and profit that the assets generate. There’s a reason why 5,000 sq ft of retail space in 5th Ave NYC is worth more than an identical space in Edinburgh and enormously more than 5,000 sq ft in Kilmarnock.

    There’s more footfall with far higher levels of income in NYC than in Kilmarnock . Therefore you’ll pay more to secure the NYC asset than the Kilmarnock one. 

    This is relevant to the price paid for the assets purchased by Charles Green . Those assets had a long and ignominious history of delivering losses …….huge losses. Therefore any potential purchaser is unlikely to place anywhere close to the balance sheet value. In my view it’s significant that of all the offers received by Duff and Phelps , none were remotely close to the figure that BDO were looking for . The largest offer , with proof of funds was from Bill Miller. His offer of £10M was given preferred bidder status. He then transferred the funds to his Lawyer to enable an Escrow . This was confirmed to me by Jon Pritchett ( who carried out the due diligence for Miller ) in a twitter exchange . 

    So £10M was the number achieved by D & P , subject to due diligence, from a buyer with proven funds. Jon Pritchett , in an article for The Financial Times , explained the due diligence found that there was a huge black hole in Rangers finances . Miller who was already subject to a negative campaign against him by King supporters in the media and fan groups, walked away. 

    The offer from the Blue Knights and Brian Kennedy was £5.5 M , using £3M of Rangers own money . It’s hardly surprising  D & P chased them .

    The notion that the assets , particularly the property assets could be sold seperately is fanciful. There were indicitave offers for  those  assets from a couple of property developers , but they disn’t follow through and bailed out before a decision was made. 

    In a loss making business , in need of significant Capital investment , the idea that the assets were worth £35 M is risible in my view 
42. 
    

    Barca,

    i agree which is what led me to consider player values.  They were the only thing worth anything like that kind of sum and that would be in an open market, willing buyer/seller etc.  Any buying club was unlikely to shell out significant monies knowing the players would be available for free 6 months later.

    But I can’t imagine D&P would win many friends for simple kite flying either.
43. 
    

    Barcabhoy,

    I think we are all a bit gobsmacked by the figure of over £28m that BDO have said the assets of RFC were undersold, and I’m not sure they are actually saying that that amount could/should have been raised. They may be chasing £28m+ on some other grounds though, and have perhaps found evidence of the collusion we all suspect between D&P and Charles Green, perhaps there is some of the evidence the police were unable to present in a criminal case, because of their fortuitous, for RFC, cock-up, that could be used in a civil case.

    With BDO on the inside, however, it would seem strange that they should go to court claiming some grossly exaggerated figure, unless they merely hope to use it as a starting figure in some out of court settlement.

    They are, I believe, also claiming that the playing squad was undersold. Now I would have believed that under football rules they automatically became free agents once the CVA failed, but perhaps BDO consider that, under law, which always trumps a sporting body’s rules, the players were still owned by RFC, and that D&P had no right to ‘sell’ them at a knock down price to Sevco, without, at least, pursuing buyers at the true market value. The fact that Southampton paid, £500,000 I think it was, to Sevco for Steven Davies when he was actually a free agent, might lend substance to BDO’s claim. It also has to be remembered that Sevco bought the players apparently unaware that they became free agents under the TUPE regulations, so both parties were of the opinion, at the point of sale, that their true value was far in excess of the amount given in the sale agreement.

    I suspect, though, that BDO’s move could be no more than some ‘fishing expedition’, in the hope that D&P would rather settle up for a sum of, say, £5m, than have BDO’s evidence of malpractice, or just incompetence, presented in open court, and that the only effect that it might have on RIFC/TRFC is to put off, or delay, any new ‘investor’. 
44. 
    

    One part of the 200% piece puzzled me and it may be inaccurate, however I’m sure someone on here can clarify???

    He stated on 14th June, RFC “forthwith ceased to be a member of the league” (SPL). However he later states all 12 member clubs voted in early July. If RFC was no longer a member at that time, how did they get a vote?

    I suppose those on here with archived documents would be able to pick numerous holes in the piece, but for me his avoidance of the oc/nc argument weakens the whole piece significantly. As we all know the club went into liquidation and may soon have the life support switched off. No amount of contortions of language and downright gobbledegook by the authorities and SMSM can change this FACT.

    That is the simple answer to any oc/nc debate or relegation questions. One day it will be admitted in a court of law…..   
45. 
    

    NORMANBATESMUMFC,
    If I remember correctly, the CVA was rejected on 14th of June, but Rangers didn’t formally  enter liquidation til the 31st of October.
    Inbetween those dates they still held an SPL share, which they didn’t relinquish until 3rd of August when it was given to Dundee. As they held a share at the time of the meeting, they were able to vote.
46. 
    

    My read on the BDO action against the administrators (I use that term as I’m not sure whether it’s D&P or the two individuals that are in the spotlight) is that the administration process was very narrow & concentrated on ‘football’, to the detriment of creditors, rather than expanding outwards to other possible businesses & thus failed to provide the best possible return. 

    Was the ‘basket(case) of assets’ advertised in the specialist press or websites, or was it all ‘word of mouth’/news media, for example? 

    (I’m aware that the administrators first job is to try to get the business to continue trading, & pay off its debts, BTW.)
47. 
    

    PADDY MALARKEYFEBRUARY 8, 2017 at 14:35 17 Votes
    From TRFC website – mibbes a pointer to their problems with numeracy .The Light Blues faced Greenock Morton four times in 2015/16, winning four times and drawing the other.

    This can, in fact, be easily explained. Whilst the scores might indicate that TRFC only drew with Morton on one occassion, they also ‘won’ that game on possession, shots on goal and corners  
48. 
    

    normanbatesmumfcFebruary 9, 2017 at 10:08 
    One part of the 200% piece puzzled me and it may be inaccurate, however I’m sure someone on here can clarify???
    He stated on 14th June, RFC “forthwith ceased to be a member of the league” (SPL). However he later states all 12 member clubs voted in early July. If RFC was no longer a member at that time, how did they get a vote?
    I suppose those on here with archived documents would be able to pick numerous holes in the piece, but for me his avoidance of the oc/nc argument weakens the whole piece significantly. As we all know the club went into liquidation and may soon have the life support switched off. No amount of contortions of language and downright gobbledegook by the authorities and SMSM can change this FACT.
    That is the simple answer to any oc/nc debate or relegation questions. One day it will be admitted in a court of law…..  
    ____________________________________

    I got the opposite, or different at least, impression from the lack of OC/NC reference in the piece; to me it should leave the question in an enquiring mind, perhaps new to the debate, of ‘how could this happen? How could the club that plays at Ibrox now, be the same one that went into administration in 2012, if it had to jump through so many hoops to gain entry into the league system it supposedly was already an existing part of?’

    I also got the impression that that was something the writer was hoping/expecting might happen, which is why, by saying he was going to ignore the issue, he brought it into everyone’s mind who would go on to read the piece.

    You wrote, and I have to admit I find your question valid:
    ‘He stated on 14th June, RFC “forthwith ceased to be a member of the league” (SPL). However he later states all 12 member clubs voted in early July. If RFC was no longer a member at that time, how did they get a vote?’

    The only thing I can think of is that 200percent is correct in terms of them ceasing to be a member of the SPL due to the failure to get a CVA, but that RFC got a vote (and we know they did get a vote) because it gave Sevco a better chance of entering the SPL! Some might call it cheating, or, at the least, improper!
49. 
    

    Jingso.JimsieFebruary 9, 2017 at 10:49 
    My read on the BDO action against the administrators (I use that term as I’m not sure whether it’s D&P or the two individuals that are in the spotlight) is that the administration process was very narrow & concentrated on ‘football’, to the detriment of creditors, rather than expanding outwards to other possible businesses & thus failed to provide the best possible return. 
    Was the ‘basket(case) of assets’ advertised in the specialist press or websites, or was it all ‘word of mouth’/news media, for example? 
    (I’m aware that the administrators first job is to try to get the business to continue trading, & pay off its debts, BTW.)
    _____________________

    I think it could be argued that up to the point of failure to achieve a CVA, the administrators were correct to concentrate on keeping the business of Rangers FC as a going concern, this may, of course, have been better served by selling off as many assets as possible to provide a better offer within the CVA. The big question, for me, at least, is at what point does the administrators’ duty change from best result for the insolvent company, to best result for the creditors? I would imaging that that point is from the moment the CVA fails. But D&P had already made an agreement to sell, at a lesser price than in the CVA, to Green in the event of that failure. Now, the agreement was made before the CVA decision, but does the duty of ‘best interest of creditors’ hold good in that case? I would suggest it must, because it was made on the assumption of the failed CVA.

    I suspect that, should it go to court, the case will hinge on whether or not the court finds that an agreement made before the CVA, based on an assumption of the CVA failing, should only be made if it provides the best return possible for the creditors. BDO would then have to show/prove that a much better return could have been made by an individual sale of assets rather than selling them all in a basket!
50. 
    

    http://talksport.com/radio/richard-keys-and-andy-gray/121029/rangers-chief-executive-charles-green-joins-keys-gray-studio-184098
    Take from this what you may a can of worms wide open perhaps from big mouth Charlie
51. 
    

    CLUSTER ONEFEBRUARY 8, 2017 at 23:02 
    It’s late so a small question if i may?I meant to ask yesterday.When Aberdeen and Hearts released their accounts, the added the part if i remember correctly the part about everything in line with FFP did celtic do the same?

    CO, I don’t think that Celtic made any reference to FFP in either the interim 6-month financial report recently posted or the most recent full group accounts to 30 June 2016. The Hearts and Aberdeen accounts were both to 30 June 2016. St Johnstone and Hibs don’t mention FFP in their most recent accounts and Inverness, Kilmarnock and Dundee post abbreviated accounts for small companies, none of which made reference to FPP. 
52. 
    

    Just choked on the late afternoon coffee there.

    Saw a link on Phil Mac / The Clumpany twitter with Tony Watt being dragged out yesterday to ‘promote’ the William Hill Scottish Cup then talking about how he wants to stay down in England etc etc.

    What genuis at the SFA thought this was the best way to promote Scottish football!!!!!!!!!!

    WTF!!!!!!!!! Is there no one available to do a better job. Christ I would have even preferred the Magic Hat.
    https://stv.tv/sport/football/1380234-tony-watt-i-don-t-want-to-come-back-to-scottish-football/?utm_content=buffer94430&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

    Even the Daily Record seem to have taken away the link to the story. 

    What an utter embarrassment.
53. 
    

    https://www.accountancyage.com/aa/news/2222329/bdo-liquidators-appointed-to-rangers
    From above,  05 Nov 2012
    BDO LIQUIDATORS have been appointed to Rangers Football Club.
    Malcolm Cohen and James Stephen, both partners at BDO, were appointed joint interim liquidators of RFC 2012 on 31 October.
    Paul Clark and David Whitehouse, joint administrators from Duff & Phelps, have handed over to the interim liquidators.
    Cohen and Stephen will remain interim liquidators until they are granted a formal appointment at the first creditor meeting. A creditor meeting must take place within 42 days of their appointment – however, the liquidators are trying to speed this process up.
    Cohen said: “As joint interim liquidators, our prime objective is to maximise returns to creditors. By investigating the reasons for the company’s failure, we will better understand the avenues available to enable the recovery of all possible monies for creditors.
    “This is a complex case with many potential areas for us to investigate, which we will do thoroughly in accordance with our duties and powers. Our investigations will, of course, include the conduct of those responsible for the financial affairs of the company in previous years.”
    As part of the insolvency process, liquidators have more powers to investigate the reasons behind the collapse of a company than administrators. This is the main reason HM Revenue & Customs vetoed a rescue deal known as a CVA earlier this year.
    The interim liquidators have said they will continue any legal proceedings already initiated by the administrators.
     
54. 
    

    It was mentioned recently, but is Paul Murray still planning to give a ‘Rangers’ talk at ICAS HQ in Edinburgh, later this month? 

    If so, it seems a rather hubristic decision for even a dignified occupant of the blue room.

    Seems there could be a high risk of being very publicly skewered by his peers – especially if he freely takes questions from the floor.

    Mibbees a coif-related incident will force Murray to cancel at the last minute ?
    
55. 
    

    Whilst protection of creditors is very important there is no question the Collyer Bristow payout actually complicated the issue as there was a/ a pot to be shared out (unrelated to the assets of RFC per se) and b/ given its complicated nature BDO are now obliged to pick every thread as it were as long as the committee feels it worthwhile since BDO can’t use the excuse, as they normally would in a skeletal liquidation scenario that there are no funds to pay for such investigations.

    And finally one cannot overlook HMRCs involvement as chief creditor and hence driving the commitee.  Whilst noting that HMRC are undoubtedly out of pocket the CB payout must have raised a particular smile in the office that day.  Essentially they have carte Blanche to go after a highly public serial offender.  
56. 
    

    BLUFEBRUARY 9, 2017 at 15:19 1 Vote
    CO, I don’t think that Celtic made any reference to FFP in either the interim 6-month financial report recently posted or the most recent full group accounts to 30 June 2016. 
    ————–
    Thanks for reply.
    I just wondered if it was now mandatory or compulsory to make reference to FPP. As  Hearts and Aberdeen did.
    I never had the time to have a good look.
57. 
    

    Don’t Know if I’ve uploaded this correctly.
    Saw it on Twitter.
    Last season before financial doping ruined the, relatively, level playing field. 
58. 
    

    What year is that Jo out of interest?
59. 
    

    SMUGASFEBRUARY 9, 2017 at 20:18       Rate This 
    What year is that Jo out of interest?
    ——————
    can i intervine?
    i think it’s 1986, i believe the year celtic won the last game away from home
60. 
    

    Oh look !,…STV has went all bam-potty ! 
        I wonder if there are any other leaked documents and stuff they might like to share with the general public. #TOG

    https://stv.tv/news/politics/1380321-spfl-chief-denies-misleading-msps-over-football-contracts/?utm_content=buffer0be14&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
61. 
    

    1986
    On the last day Hearts were broken by Albert Kidd.

    Jist glad I left the Bob Inn and went into Love St.
62. 
    

    John ClarkFebruary 8, 2017 at 05:45
    I’m just a wee bit disappointed that the Liquidators use the phrase ” sale of the business and assets to Sevco” as if RFC(IL) simply changed hands. If that had been the case, there would have been no need  for CG to found a new club and apply as a new club to join a league and seek membership of the SFA.
    I would not be too down beat the liquidators will be asked if as they state  “sale of the business and assets to Sevco “, why was the players allowed to TUPE under emplyment law, there is no hiding from this the blister will rise unless lanced. 
63. 
    

    I think I might be wrong about this, but when old BP & Tris introduded the new new smiles I was the first to over use the,mm, so here goes:

    

    I tried to do a Christmas Narrative using the smileys but I gave up.  BTW what happened to the sheep smile? That was an important part of my story.
64. 
    

    BIGBOAB1916FEBRUARY 9, 2017 at 21:37 
    John ClarkFebruary 8, 2017 at 05:45I’m just a wee bit disappointed that the Liquidators use the phrase ” sale of the business and assets to Sevco” as if RFC(IL) simply changed hands. If that had been the case, there would have been no need  for CG to found a new club and apply as a new club to join a league and seek membership of the SFA.I would not be too down beat the liquidators will be asked if as they state  “sale of the business and assets to Sevco “, why was the players allowed to TUPE under emplyment law, there is no hiding from this the blister will rise unless lanced. 
        ——————————————————————————————————————————
      BB, I realise that this is coming from BDO, who obviously must be clued up on these things, but could “business” relate to something other than what it sounds like (If you know what I mean?) It seems logical to me that if you buy a business, that has debts, then you have also bought the debt. Craig Whyte did. 
       Any idea what they mean by “business”? ….Did the football debts get transferred somehow, or something else? 
65. 
    

    Corrupt officialFebruary 9, 2017 at 22:56BB, I realise that this is coming from BDO, who obviously must be clued up on these things, but could “business” relate to something other than what it sounds like (If you know what I mean?) It seems logical to me that if you buy a business, that has debts, then you have also bought the debt. Craig Whyte did. Any idea what they mean by “business”? ….Did the football debts get transferred somehow, or something else?

    Well the SPL might be in a mess if a newco has to pay football debts but not creditor debts would this not be discrimination after all the club and co are one in the same business. If you were a creditor you would be taking this case to the highest court in the land and demanding your justice.
    Did CG not state he was never in SPL was this the big clue newco/newclub. Of course you are right if the sale is a transfer you take on all debts, contracts, no TUPE same terms and conditions to all employees.
66. 
    

    BIGBOAB1916FEBRUARY 10, 2017 at 02:03

          It’s hard to explain this “business” thing, but was the business they bought a different business?.
         A business that was stuffed with the necessary items to pheonix, such as the I.P., badges, crests etc,(maybe 5088 as per agreement, which became a TRFC subsidiary) and could it have been performed during the name-change from Rangers Football Club PLC, to RFC 2012 PLC.      
    Without this name change, Sevco Scotland could never have used TRFC as a name.      
    Who paid for this name change which greatly assisted Chuckles, but nobody else as far as I can see? It appears to have been performed for no other purpose than to free up the name.            
    Did D & P pick up the administration/registration fees for this change, deducting them from the creditors pot, and now BDO have valued that move as worth £28.9m (or something along those lines)      
    I don’t think I am explaining this too well, but clearly the “business” bought, was not the one that had all the debts,

    Somehow they bought “A” business with the good bits in it, but did D & P put the good bits in it at the creditors expense, and Sevco Scotland experienced this benefit gratis ?.
       
67. 
    

    Corrupt officialFebruary 10, 2017 at 04:22
    ‘….Somehow they bought “A” business with the good bits in it, but did D & P put the good bits in it at the creditors expense, and Sevco Scotland experienced this benefit gratis ?..’
    __________
    Whatever the precise mechamisms, two things are certain. First , like other clubs which lost their entitlement to membership of a league and to membership of the SFA , the Rangers Football Club , founded in 187? and incorporated in 1899, went out of the business of playing competitive professional football, ceased to exist as any kind of recognised football club.
    Second, a deal of lying and cheating to try to mask that fact was indulged in by those involved in creating the pretence that Charles Green somehow kept RFC alive, and that liquidation with all its consequences never happened, and that the club and its footballing identity were saved.
    BDO, the liquidators are of a different opinion. They know as a matter of fact (none better) that RFC ceased to be able to trade as a football club.They have now shown that they have reason to believe that the Administrators did not do what they ought to have done when trying to prevent that happening.
    We all know that the Football Authorities certainly did not do what they ought to have done: namely, consign RFC and its history to the history books where it belongs ( which is what happens to football clubs that are liquidated).
    Instead, they seem cockily to have assured CG that they would   bounce his new club into the then SPL , promise him that they would raise no objection to his  new club trading as the Rangers of old, on the specious pretext that a dead club’s history and marketing name can be bought and claimed by a new club , and told him that he would not be responsible in their eyes for the debts owed by the liquidated club ,except the debts owed to the Football Authorities.
    How truly devious and devilshly evil was that kind of thinking?And we’ve had four and a half years of it!
    Thank God that the whole of the plan came to nought, by the refusal of the SPL clubs to sanction the admission of SevcoScotland.s . That, unfortunately,was the last bit of true moral courage our clubs have shown in the face of the assault on Integrity in Sport, and on the common sense of us all.
    The hope has to be, now, that BDO will go the distance in Court against the Administrators, that men with anything on their professional consciences ( like fear of losing their licences) will be forced to spill some beans about secret meetings and deals , and that some papers might come to light to that will nail all the bad guys in this whole sorry saga.
    And, where the standard of proof is less rigourous than for criminal conviction for conspiracy, we live in hope that BDO will be successful in naming and shaming the  guys ( whether in the world of Finance or of Football,who did  such dirty deeds as were done, but which could not technically be proven in criminal proceedings to have been done.
68. 
    

    I think you have to keep your mind away from “business” as an entity in its own right.  They did not transfer A business with assets and stuff but instead transferred THE business better read as the “activity” of the old company, activities that then required specific identifiable assets like IPs to continue.  Sorry to labour the point but Mackenzies capitalised “Club” description seems to have sought to somehow parcel up those activities into something touchable again hence BDO taking the vow that “ok, if you’re telling me that was actually a tangible asset then I’d like to see a receipt for the sale and the starting value is the value of those assets that you otherwise allowed to depreciate to zero by sitting on your hands.”

    The key point in law I would guess is when the players were freed at zero value. Their SPL share required them to own and operate a football club. But they were technically not in liquidation (but inevitably bound for it) until October. But did the transfer of “the Club” free Naismiths et al to leave the “club?” Where’s Paul McC when you really need him!
69. 
    

    Anyone looking for Clyde’s Manager’s thoughts on their away tie with Ayr United in the Scottish Cup tomorrow will find them in his weekly column in the Daily Record.
    I say “find” but you”ll have to trawl past a lot of other stuff before you find it. The other stuff is Elder Statesman advice to Rob Kiernan about abuse from Rangers fans and involves Barry Ferguson (for it is he) having words with some teenagers in a supermarket. Obviously aware of the sensitivity of his readers Mr Ferguson reports that the youths shouted something that he can’t relate in a family newspaper. Given that the rest of the column includes “f*****”, “b******” and “a***” one can only speculate what was said that can’t be related.
    Mr Ferguson’s sage advice includes the admirably honest report “Five minutes later I’m at the yogurt fridge. Raging.”
    That last bit has more than a ring of truth about it. Only criticism I would have is that the prefix “Perma” is absent.
    Stay classy Barry.
    I believe that the matter is dealt with in Scripture.
    John 11:35.
70. 
    

    Smugas
    February 10, 2017 at 08:10
    —————————————————————————–
    https://scotslawthoughts.wordpress.com/2012/07/03/green-well-fight-for-compensation-for-players-who-didnt-join-sevco-rangers-and-lose/
71. 
    

    Jingo.Jimsie
    February 9 2017 at 10.49
    “..My read on the BDO action against the administrators (I use that term as I’m not sure whether it’s D&P or the two individuals that are in the spotlight) ..’
    __________
    I’ve just this minute checked the official website of Duff &Phelps, updated 2017. 
    http://www.duffandphelps.com/about-us/our-team/david-whitehouse

    It shows that both Whitehouse and Clark are still working for Duff and Phelps, Clark being ‘a managing director’ at Duff&Phelps in London, and Whitehouse a managing director in their Manchester operation, and not on a franchise basis.

    And even if on a franchise basis, D&P might be at least vicariously liable for the actions of the franchisees.

    That would suggest to me that the ‘global’ Duff &Phelps  in New York will have to be involved in dealing with BDO’s lawsuit, either to defend their ’employees’ or seek an out-of-court settlement .

    I imagine that BDO have checked whether it would be worthwhile bringing an action against Whitehouse and Clark personally, and have only raised the action because they believe that if they win, it will be the megabucks of D&P global rather than the personal directors’ insurance cover that would have to pay out.

    Or believe that D&P global will more readily go for out-of-court settlement in a figure enough to satisfy BDO.

    One way or another, the jaikets of both Administrators might be on a shoogly nail.

    Merely being charged with a crime is not evidence of guilt, of course, paricularly when the charge is dropped.

    But being involved in a civil lawsuit  which goes against you and costs your boss lots of money……………? I think you would to have  very understanding boss in order to keep your job-particularly if your licence to operate was revoked as a result of professional misconduct.

    We will no doubt see what happens.

    (It is now, btw, 11.00 p.m here in Birkdale, Queensland.)
72. 
    

    LUGOSIFEBRUARY 10, 2017 at 10:31
        “Obviously aware of the sensitivity of his readers Mr Ferguson reports that the youths shouted something that he can’t relate in a family newspaper. Given that the rest of the column includes “f*****”, “b******” and “a***” one can only speculate what was said that can’t be related..
          ——————————————————————————————————————-
        ” Haw Barry !…..Raynjurs ur Deid !!!!!!!”   
73. 
    

    SMUGASFEBRUARY 10, 2017 at 08:10
       Paul did undeed touch on it Smugas. Never a stone unturned with this great man . Chapeau Paul. Sadly missed

    https://scotslawthoughts.wordpress.com/2012/07/05/rangers-football-club-plc-to-become-rfc-2012-plc-sevco-scotland-ltd-will-be-rangers-football-club-ltd/
74. 
    

    Corrupt officialFebruary 10, 2017 at 13:55
    ‘…. Paul did undeed touch on it Smugas. Never a stone unturned with this great man . Chapeau Paul. Sadly missed’
    _______
    Indeed yes. And thank you for providing that link.
    We have not yet  had any clear answer to the question that Paul McC raised with this observation:
    “… D+P, in the CVA proposal, said that they had a binding agreement to sell the assets to Sevco 5088 Ltd. They did not do so, and the above statement confirms that they sold to Sevco Scotland Ltd. What changed in the few days, and ought D+P to have told the creditors about who was actually buying the assets?”
    At the time we all , I think, assumed that someone had worked a flanker on someone.Basically, that CG had adroitly stiffed CW. I did not seriously think then that the Administrators might have been in cahoots with CG. I am not alleging that they were, of course.
    But I think that any ‘honest mistake’ on the part of the Administrators when it came to understanding who the purchaser of the assets at a knock-down price might be, could reasonably be held to be a sign of negligence and unprofessionalism deserving of a right doing by their professional body-if not by the Courts.
    Seriously, has there been an explanation of why the assets were sold to Sevcoscotland rather than to Sevco5088 that I may have (must have?) missed?
    I hope that BDO might have found something that the Crown Office could not use in criminal proceedings, but which will in a civil action go a long way to establishing the truth of the Administration process and the deal with CG which resulted in the assts being sold to Sevcoscotland rather than to Sevco5088.
    And the truth of a whole lot of other things.
75. 
    

    The latest DR article by their invited TRFC blogger sums it all up, IMO.

    This article is headlined that TRFC needs ‘a big personality…and it’s got to be Souness’
    [To be fair, it’s also ambiguous if the blogger actually suggests that – or if a DR editor simply inserted the name into the headline and at the end of the article.]

    First and foremost, the reason Souness went to TRFC was for money.
    An additional sweetener was to be given access to other peoples’ money to buy big name players – including current, English internationalists.  A radical reversal of the well worn path of Scottish talent heading down south for big money.
    Who wouldn’t take that opportunity ?

    But, TRFC doesn’t have any money, ergo Souness – and any other ‘big personality’ – will simply not be interested in the Ibrox club.
    …and Souness doesn’t come across as the type of guy who does sentimentality.

    [Someone mentioned Kenny Miller earlier – and that could indeed tick a few boxes: no extra cost, popular with fans, a RRM , if you forget one of his earlier clubs  .  Except no managerial experience but could team up with Weir temporarily  It might help to kick the can down the road a wee bit further for the impoverished outfit?]

     

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