Guest Post by Brogan Rogan Trevino and Hogan
Good Evening,
Last night, I found myself sitting at home when an e-mail arrived from the administrator of these pages suggesting that I write a guest article for all to consider. At that precise moment my television was full of the efforts of James T Kirk attempting to escape the Wrath of Khan, who blames old James T for all his ills and troubles including what he sees as his ridiculous and malicious banishment to a distant star in the middle of nowhere— amongst other things. He seeks vengeance, causes mayhem, and refuses to recognise the rule of law.
It may seem strange, but there is much to be learned from The Wrath of Khan. For example, in the midst of the action Admiral James T acknowledges that when he first faces what is at the time an unknown adversary, in most unusual and unknown circumstances, he ignores rules and regulation and as a result “gets caught with his pants down.”
That is the consequence of ignoring rules and regulation more often than not—even for the good guys.
This is also the movie where we are introduced to the Kobayashi Maru—the supposedly impossible test in which members of star fleet are asked to rescue a stricken ship and its crew without sacrificing themselves, their starship and all members of their crew. The test is meant to be impossible to solve as it cannot be achieved—unless you change the rules of the game!
Captain’s log: Star date 2012; This is the voyage of the Starship Scottish Fitba—and we’re lost!
How can it come to be, that as we approach September 2012 the world of Scottish Football is in such a state of flux and disarray with an unbelievable amount of uncertainty and doubt about fundamental matters and principles, after months when we have seen the spiralling demise of one of our country’s biggest football clubs and the threatened disintegration of the entire system of football administration in Scotland as a result?
Surely after all that has happened in these past months the administrators would have learned to not only play by the rules, but be seen to be playing by the rules, insisting on the rules, and reinforcing the principles and platforms that those rules are based on?
Rangers PLC has ceased to be a part of Scottish football and the failure to deal with that simple fact, even more than the demise of what was regarded as an institution, is baffling in the extreme. The simple fact of the matter is this: There are rules and laws —regulations if you like —which were pre written to deal with such an event. Apply the rules and everyone knows where they stand— ignore the rules and, as James T Kirk points out, you get caught with your pants down!
So far, the rules have been half implemented half ignored. Rangers were automatically deducted points for going into Administration and properly so. They were convicted, by a properly convened independent panel, of various rule breaches, and duly sentenced as a result—again properly so. Thereafter, the company was consigned to Liquidation because it could not pay its debts- with the result that it loses its SPL share and the right to participate in football altogether— and with the further result that it left a trail of unpaid debts to creditors, including football clubs, which ran to millions of pounds.
Further, let’s be clear, The SPL and the SFL only exist with the consent of the SFA. The SFA are the ultimate governing body in Scottish Football, with the two league associations merely management tools to achieve what is supposed to be the efficient management of the game in compliance with the pre agreed rules, procedures and principles that are meant to govern football and football administration. If you wish to play under this system, then you have to accept the very same rules procedures and principles, and there should be no contracting in or out of either membership, or the laws of the game.
Yet when Rangers went into Administration, and stared liquidation in the face, The Administrators, and subsequently everyone from Bill Miller through to Charles Green stated publicly that they, together with the SFA and all of Scottish Football, were facing the Kobayashi Maru whereby maintaining the rules and the principles of the game whilst at the same time saving Rangers FC could not be achieved!
The rules had to be ignored for the sake of expediency cried some press members. Whilst principles are all well and good, you can’t apply them if it means the death of Rangers—Rangers are too big — cried others. If you apply the principles and the rules you will kill Rangers—and yourselves—said some.
It would appear that when it came to Rangers and their wellbeing, some took the view that principles were not quite so important and that, no matter what, Rangers FC had to be saved—- and there it was—the impossible task— The Kobayashi Maru!
I wonder if those who spouted that argument looked at The SFA website in any detail? Because there it states specifically that the SFA wants its coaches to educate all its young players, trainee managers and future coaches to “ Honour the game-respect your opponent- play to the rules–value sportsmanship–redefine winning- not just focusing on match results and league positions- and to help produce positive, respectful, and confident people with useful life skills“. Presumably those life skills include playing by the rules, valuing integrity, behaving with honour and respecting the position of others and so on.
Yes—It is hard to believe—but all of those phrases are direct quotes from the Scottish Football Association webpages—they are the words of the SFA themselves. How could they be seen to abandon such principles—especially when they so publicly proclaim them?
What a choice then for the SFA—abandon your principles—or lose an institution—The Kobayashi Moru! You just can’t win!
Except, Green & Co—and I include sections of the media in that phrase—clean forgot who was sitting the Kobayashi Moru test. The SFA were never faced with the test—if anything it was their rules that posed the test for whoever wanted to try and save Rangers. In the end, nobody was willing to attempt that task under the existing rules. No one was prepared to come along and pay the debts and so save the club—and at that stage it was Rangers and Rangers alone who faced the Kobayashi Moru.
Green, by way of his Servco company, then sought admission into the footballing world at a time and under circumstances which the rules dictated must result in failure. He had no accounts, no history in the game, effectively no players and nothing that would suggest that he could meet the criteria of the pre agreed rules for entry into the SFA.
It was at this juncture that the footballing executives made the error of ignoring the rules and principles that govern our game—the ones that the SFA espouse on their own website. They tried to shoe in Green against all the rules, with the result that supporters, fans, and club chairman voted them down and left them with their pants firmly glued to their ankles in Kirk speak.
The SFA, at the instigation of the member clubs from all leagues, then played the Kirk role in attempting to solve The Ibrox Kobayashi Moru by changing those rules with the agreement of the majority, so that Mr Green and his cohorts could gain membership, by effectively agreeing to allow Green’s Servco to obtain membership of the SFA on a conditional basis— with one of those conditions being that Mr Green’s company will pay ALL outstanding football debts—and make no mistake Captain Green accepted that he would play by those rules as otherwise he faced oblivion.
Here is what Green said as published on the SFA website following the signing of the 5 man agreement:
“The agreement signed today allows Rangers to be granted membership by the SFA and finally enables the Club to move forward.
“The Board, the Manager and senior executives have been working tirelessly over the last few weeks to secure the future of the Club and today is the start of that process.
“The Board has had to take some very difficult decisions to gain SFA membership, including accepting the delayed transfer ban and paying outstanding financial penalties. But we are now able to get back to playing football and plan for the new season, starting this Sunday with our match against Brechin.”
The website also reported that Servco had been granted conditional membership with one of the conditions being – “Sevco Scotland Ltd has agreed to settle all outstanding football debts to other members of the Scottish FA plus clubs under the jurisdiction of other Football Associations.”
You will note that nowhere does it state that the SFA or the SPL will pay any of the footballing debts out of any money supposedly due to the second place team in season 2011/2012 as Charles Green appears to claim – and besides it is obvious to everyone that Servco did not participate in the league during that season and so cannot be entitled to any such payment as they were not Registered with the league nor had membership of the SFA or SPL.
Rangers PLC were so registered, but if they were due any money that money would go to their Administrators. However, given that Rangers PLC were the Registered body and were convicted of offences which were described as only second to match fixing, then it follows that they should not be allowed to profit by so much as a penny in that season as a result of their rule breaking activity. Had they been expelled from the league they would have been entitled to nothing at all, and it should be remembered that it was the same Mr Green who took that situation to the Court of Session with the result that the court sent the case back to the panel with the clear instruction that such a penalty may well be appropriate and that in the circumstances the tribunal may have little alternative but to impose such a sanction.
Clearly, this is a scenario that Charles Green had to avoid. In this instance he ignored the footballing rules of not going to courts of law, and found himself with his pants down and facing the Wrath of The Court and the Kobayashi Moru whereby any technical success at the court was likely to result in certain extinction by way of expulsion from the league.
Now Captain Green seems intent on steering his starship into yet another dead end with fatal consequences. He claims that the Scottish Football debts are paid. If we ignore for the minute that he has never attempted to pay any footballing debts outwith Scotland – thus jeopradising his conditional acceptance into the SFA— his claim that it was agreed that these debts would be paid by the SPL or the SFA out of 2011/2012 prize money is derisory.
No fundamental principle of fair play, respect for opponents and attempt at honouring the game could allow for such a situation. Besides the SFA were quite clear in their statement and he has at no time demurred. From the date of the 5 man agreement onwards Captain Green undertook to pay all of the footballing debts— and if he doesn’t, then again he risks the withdrawal of his conditional membership. There is no other solution to the issue. Those are the rules he signed up to, and if you ignore the rules………….
However, this entire affair still has far to go. Where is the transparency and clarity championed by Henry Mcleish and oft promised by Stewart Regan and others? Why are the details of Green’s investors and his business plan, timescales for meeting obligations and everything else about his operation kept so secret? Given the history of those who have been in charge of Ibrox over the last twenty years, the complete failure of their administration and what is now known about their tenure there and in football generally,— and given Green’s latest public statements—, does it not occur to the SFA that the rest of Scottish football has a right to know the details of what they have been told and what Green has promised?
He has promised to clear the footballing debts and appears to be making little attempt to do that whilst his manager hails as triumphs the signing of what he sees as the best players from other teams at relatively huge expense—whilst the debts remain, and the obligations are unfulfilled.
Again that cannot be right and goes against all principles of respecting opponents and honouring the game. It is a circumstance that amounts to the antithesis of the principles espoused by the SFA and appears to be completely contrary to the mandate given to Regan and the powers that be by the clubs and fans of all divisions. Further, the current position gives the impression that Mr Green believes that he can run his company and participate in football as and how he wants, as and when he wants and under his terms and conditions.
This smacks of previous regimes that hovered around Ibrox for far too long with ultimately disastrous results particularly for Rangers fans, investors and creditors.
History cannot be allowed to repeat itself under these circumstances and the SFA must bring pressure on Green to pay the obligations that he undertook to meet within a publicly known timescale. Not only does he need to do that for the benefit of the clubs owed money—he needs to do it for the sake of the integrity of the whole of Scottish football, and he should not be allowed to build at team or field a team if he breaches the agreement. That should be the rule.
He should not be allowed to sacrifice publicly proclaimed and nationally accepted principles for the sake of his own financial expediency “for the needs of the many outweigh the needs of the few—- or the one!”
Oh—and lest anyone think that it is mere trivia to link the current plight of Scottish Football with Star Trek and the Wrath of Khan, and that any such comparison is childish and of little consequence, that last quote was specifically relied upon, referred to and quoted in the Supreme Court of Texas in a decision issued on 22nd October 2010 in the case of Barbara Robinson, Individually and as Representative of the Estate of John Robinson, Deceased, Petitioner against Crown Cork & Seal Company, Inc., Individually and as Successor to Mundet Cork Corporation, Respondent— thus bringing the undoubted logic and wisdom of Mr Spock well and truly into the Law of the United States of America!
Few would argue that Spock’s logic is not a sound legal principle!
It also seems to me that perhaps Spock had some solid business advice for those who choose to ignore the rules with a view to seeking short term gain or advantage—whether that be by way of trophies, money, position or what have you—but peril their entire existence by engaging in unlawful or illegal activity. It is advice which was ignored apparently by Sir David Murray and his board and by Craig Whyte and his entire cabal. We wait to see if Charles Green will have learned the lesson that they so clearly didn’t, or whether he believes in the potential rewards of the quick fix at any cost?
Live long…….. And prosper!
Bad news for the newspaper hacks:
@BBCDouglsFraser: Further falls in newspaper sales, July: Scotsman sub-35K, Record sub-250K, Scot Sun sub-300k, Sunday Times Scot sub-50k
How long can these papers continue to lose sales before the titles are forced to close? I would be a “Dandy” day if some of these ended up as online versions only. Though I guess they could then call themselves internet bampots too. 🙂
1. The aim around Admin was to stall everything until the end of the season.
2. Once the season was over, the aim was to stall until the start of the season.
3. Now …. the main aim is to stall until the season is well under way.
4. Return to Number 1
easyJambo says:
August 17, 2012 at 14:10
why do the stick with a broken business plan…are they rangers in disguise?
Took my kids to school yesterday wearing their new uniforms, blazers, shirt, tie, shoes, etc, as per the new uniform policy introduced for the start of new term. Picked up my eldests friend as I have done year after year who did not have his new blazer (a Rangers fan oddly enough) as per the recent edict. The debate started in the car amongst the boys “they can’t force you to wear the blazer” “I’m going to tell them it’s to hot to wear it and what can they do about it, after a few weeks it will fall apart and we can be as we were”.
I interjected and said when you set out a policy and lay down rules and regulations it is vitally important that you have strong management who can ensure rules are applied. This I said is true in any business or organisation and you must impliment the rules, sometimes these are carved in stone sometime there can be compromise after debate. If a member of staff or a pupil is late every morning and you don’t address it, like a cancer it will eat away and cause recenment amongst those who follow the rules and management will lose the respect of the team overall and everything falls apart. I stressed with the uniform policy it must be a case of black or white with no ambigious or grey areas for it to work. The school must take a strong line or the whole exercise is pointless, they must not waiver in their stance or I’ll be up there demanding a refund on uniforms purchased. So I said to my boys mate that I would expect him to get pulled up today and forced to to follow suit.
The parrell to the school uniform senario is of course that at the SFA,SPL,SFL we have rules in Black and white that apply to all members. What we also have unfortunately is weak, inconsistent and some would say dishonest management that apply 50 Shades of Grey to rules & regulations. This has resulted in recentment and unrest amongst clubs and supporters because of their failure to apply firmly and “without fear or favour” the rules as they are set down. To finish on a 50 Shades of Grey analogy where pain has been inflicted on our good friends the safety code word for stop! no more punishment must of course be ” Rangers”
PG says:
August 17, 2012 at 14:23
2 0 Rate This
easyJambo says:
August 17, 2012 at 14:10
why do the stick with a broken business plan…are they rangers in disguise?
===================================
No…
They’re Sevco in disguise 🙂
I can’t remember who on here recommended Nick Davies’ Flat Earth News, but thanks.
I’m about half-way through it and it’s excellent. Would recommend it to anyone who’s interested in the news industry.
Excellent article again BRTH! Cuts through the spin and propaganda straight to the guts of the issue.
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easyJambo says:
August 17, 2012 at 14:10
How long can these papers continue to lose sales before the titles are forced to close? I would be a “Dandy” day if some of these ended up as online versions only. Though I guess they could then call themselves internet bampots too.
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I’ve been thinking about the role of the Record in this story. The Daily Record has been beneath contempt for a number of decades, on a number of issues, but on this debacle its writers have sunk deeper than even I thought they could drop. This is the biggest story ever in Scottish football history and the total absence of journalistic nous is truly jaw dropping.
As a Scottish publication, The Record has always enjoyed a privileged position in Scotland, and at one time featured great campaigning writers and journalists in its pages. At its peak the Record sold over 700,000 copies (1983) and dominated the red top market north of the border, a left populist line judging the zeitgeist well and leading the Scottish struggle against Thatcherism. In the 90’s the Record faced an ‘ecossefied’ competition (every paper now claims to be ‘Scottish’) and in a rapidly changing media landscape the Record engaged in a race to the bottom with the Murdoch titles and has floundered in every way, with circulation now some 50000 fewer than the Sun, somewhere round the 300,000 mark. The slide continues with the sports section plumbing new depths of sycophantic churnalism.
If we go back to 2008/9 when the banks collapsed and Lloyds opened the books of the moribund HBOS it was clear to most observers that the party was over for the Fred Goodwin’s and David Murrays of this world. The decades of reckless borrowing and reckless spending (of everyone else’s cash) had come to a shuddering halt and some of the biggest,’ blue chip’ institutions in Scotland were awaiting the chickens returning home to roost. How did our great campaigning Record greet the sombre admission by Walter that the Banks were ‘running’ the club? By announcing a £700 million redevelopment of Ibrox, a gargantuan fable from the Murray spin machine, to buy some time among the faithful for his crumbling stewardship of Glasgow Rangers. This period was when good journalists should have begun to dig and ask why a Rangers manager would so publically confess to feeling the heat, this was remember the biggest story ever to hit Scottish football.
Go back 2 years (ish) to when Alastair Johnston nodded in answer to the question, ‘Could Rangers go bust?’ I’m unsure if AJ intended that particular nugget to slip out, but the Murray regime certainly required some help to muddy the waters when such a worrisome notion was made public, (worrisome for Rangers fans and stock exchange rules) of course, Rangers ancien regime could rely upon the Daily Record to inform its dwindling readership that a nod, the universally recognised gesture of the affirmative means something else entirely, if it suits David Murray!
Having been desperate to sell a now insolvent vanity project for 4 years without success, the clock was ticking for SDM and a sale had to be made, ‘to someone with the best interests of the club at heart’…..of course. When Craig Whyte appeared on the scene the Daily Record obliged with reassuring ‘facts’ for the Rangers family; ‘billionaire’, ‘wealth of the radar’ such assertions cannot even be put in the category of weak or lazy journalism, this can only be conceived of as deliberate propaganda to misinform the public and protect the interests of a failing , but still publically vainglorious vulture capitalist, whose stealthy retreat from this mess remains to this day the elephant in the room of Scottish sports journalism. The Record will not change, to be so wrong so often and not remove the ‘journalists’ responsible is brazen and shameless. The BBC has responded only by placing Stewart Cosgrove at Traynor’s side as a chaperone, whilst entertaining, this too is a wholly inadequate response.
Without question the media must take a proportion of the blame for the mess that has engulfed Scottish football over the last 6 months, with the Daily Record prominent in that hall of shame. New media has changed everything and the decline of the sports news media in Scotland will continue….. the age of the Bampots has dawned, and forums such as this grow in importance as this story continues to develop in ever more grubby episodes.
Edgar Blamm says:
August 17, 2012 at 14:52
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I can’t remember who on here recommended Nick Davies’ Flat Earth News, but thanks.
I’m about half-way through it and it’s excellent. Would recommend it to anyone who’s interested in the news industry.
Nick Davies also has a blog http://www.nickdavies.net/
arabest @ 15:11
Russell Findlays’ infamous exclsive “Top Secret blueprint” (his words not mine) of the £700m Ibrox redevelopment in the Sunday Mail circa January 2008 was for me and a lot of others a bridge too far. The details ranged from unlikely to downright fantasy: Where MIH was going to find the £700m when at the time they owed the bank £850m, the notion that stadium naming rights would pay for the new stadium, the 70,000 capacity which coincidentally would mean Ibrox went from having 10,000 fewer seats than Celtic Park to 10,000 more, the stadium working out at £1,000/seat which by some astronomical coincidence is what the New Wembley worked out at and the notion that retailers were going to throw money at the shopping centre which was meant to compete with a huge Asda 3 blocks away and Glasgow City Centre and Braehead both 3 miles away. If the mail had any shame they would never have lived this nonsense that they ran on their back page down.
Was it the Mail? Same stable! But yes it was a staggering and insulting piece of trash.
TheBlackKnight says: August 17, 2012 at 13:30
OOOPS! just noticed I got that wrong! It was a play off, not a cup game
Apologies.
Starofdavid says:
August 17, 2012 at 11:06
The only way that change will occur is if you hurt them in the pocket.
Dont buy the DR don’t click on their website
Dont buy the herald don’t click on their website
Don’t buy the sunday herald don’t click on their website
DonT buy the SOS don’t click on their website
Don’t buy the Sunday mail or post don’t click on their websites
Don’t go to Scotland fixtures- much as it grieves- or buy the replica tops.
Don’t support the sponsors
Don’t pay your BBC license fee
Follow the above and change will occur PDQ
_____________________________________
Wow 10 TDs. I demand to know who these people are. I demand to know their names and who they work for
Is there any chance that we could summarise our questions that we have to the SFA / SPL on this matter and send it in to them in the forum’s name and politely ask for answers to the questions currently vexing the contributers to the forum? It would seem to be a way of trying to solicit the answers that the compliant media are unwilling to ask. At the very least it is worth a try. They can only refuse and then the situation can be cranked up from there.
Just a thought.
After The Rover Group went into administration, NAC of China bought the business of assets of the UK car maker. The Rover Group was liquidated & is now deid.
NAC later merged with SAIC and now assemble kit-cars in Birmingham (manufactured in China) and brand them with the MG logo for sale in the UK.
SAIC’s version of MG’s may have the same badge; but they are not the same as the MG’s previously manufactured and built by The Rover Group in the UK. SAIC’s MG’s have no history in common with the old company; but – because they have bought the trademarks – they laughably claim the heritage and history of that old company. The rest of us know that this is patently untrue.
Because Sevco Scotland bought the business of assets of The Rangers Football Club PLC – playing as Ranger FC – it allows Sevco Scotland (for the moment) to use the Rangers FC brand. They can argue (for the moment) that heritage and history lies with the brand they have purchased. The rest of us know that the history and heritage lies with the club just about to expire – not a trademark sold at a knock-down price.
Sevco’s version of Rangers FC may have the same badge; but they have no links with the The Rangers Football Club PLC. The Rangers Football Club PLC will soon be deid.
Most car buyers know that today’s MG’s are cheap, “Made in China” imitations of the original.
If fans of the old club wish to support a trademark bought by another club (when their own club is in the grubber) then who I am I to criticise. I guess, those who want to be fooled, will be.
Nick Davies makes some excellent points in his various publications, but I enjoyed Flat Earth News the best. I highly recommend him as a reliable source of information.
Q1: Is the Green operation involved either to make money for the long term, or a quick buck that could see Administrators in before Christmas?
Q2: If anyone thinks the former of the two options above, why would any backer put in enough to cover c.£4m losses for at least three seasons, to see The Rangers return to SPL football and pursue a business model which has been shown not to work before, just to stay afloat (indeed, Rangers had to avoid huge amounts of tax under SDM and simply not pay any tax under CW)?
Green has the organisations fronted by Stooges Inc over a barrel He knows this, and they know it too
This has come about, because those who slither about the corridors of power at Hampden, have been determined since this crisis began, that there would be no new club as such, but rather that the old club would continue
The Blazers fronted by Ogilvie, have been responsible for this policy, and instructed the Stooges to make sure it happened They got the MSM on side as their publicity machine, hence there will never be a probing question asked, or a critical comment made
Having revealed their hand, Green knew that he could push the envelope, hence the unheard of negotiations, and the rule bending and breaking that followed to allow the seamless transition from old club to well, old club
The paper trail that goes with all of this, will never see the light of day, as all parties know that they could not survive being exposed
Green can and will call the shots, and the apologies for legislators won’t be able to lift a finger to stop him, as he will be able to destroy them by blowing the whistle on all that has gone on
When you listen to the comments made by the players who have signed for Sevco, it is obvious that promises have been made about the future
The next battleground will be league reconstruction, which will be introduced and configured to suit one team only
Pandoras box has been opened, and it is now too late to attempt any form of control over the monster that has been created
I have no problems with Masons in general.
A very charitable organisation by all accounts.
I have encountered them in the workplace where a
job is given to one of the Brotherhood over someone
more capable of doing the job in hand.
I do however have a problem when it interferes with
sport, sporting integrity and bending of rules and I
believe this is what is happening at Hampden with
regards to that new 3rd division team.
Wouldn’t it be interesting to have a SFA list of all involved
in this fiasco who are indeed in the Brotherhood.
A secret society who set their own agenda and help
out each other in times of trouble.
Sound familiar ?
Why does the Daily Record’s editor continue to allow his sports team to destroy the papers circulation? Is he as much of a f*cking idiot as they are? Personally, I can’t wait till these rags go under. The joy I will feel will comparable with the death of OldCo and Thatcher (can’t be too long now).
Campsiejoe
You’re probably right in your analysis of whats happened so far, especially about the plans and schemes for early return to the SPL.
Can only hope you’re wrong about the future though. There will be fallout from the FFT, dual contracts, BDO, & the Nimmo Smith reports, plus Sevco’s precarious finances, and for the potential for clubs to remove the CEOs, boards and presidents under pressure from fans, or for them to stymie any corrupt league reconstruction plans. All of these possibilities give glimmers of hope for some justice to happen even if it’s down the road a bit. I think fan pressure will re-emerge when its really necessary and folk are happy at the moment just to see the season start.
There may also be the potential for UEFA and FIFA to eventually get involved if, when the FFT and dual contracts/ineligible player issues become public, the aftershocks lead to complaints by the many European clubs who were cheated by RFC.
Heads will then have to roll (or as rumoured in education dept circles, deputy heads will have to roll)
The other factor we shouldn’t discount is that TRFC in their return to RFC supremacist ways eventually push their luck too far and even the SFA lose patience….is it starting already?
Seamus
“A secret society who set their own agenda and help out each other in times of trouble.
Sound familiar?”
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Bishops?
So, Lord Nimmo Smith, Mr Charles Flint QC and Mr Nicholas Stewart QC make up the Independent Commission looking at how to best deep cavity search the deid Rangers
Doon the slope says:
August 17, 2012 at 17:04
0 0 Rate This
Too true 😉 I’m a good practising atheist.
But they’re no interfering in ma fitba at the moment 😉
test
from Torquemada on KDS
“I’m not a great one for rumours but there is one floating around that evidence is about to emerge about Mr Charles Green having been employed and funded by TicketUs to run the hvns and recoup their lunatic investment.”
Ref: MAR @ Aug 17 at 11.02 am
Thank you for posting the youtube video.
It makes my point exactly, when faced with a question/questions they do not want to answer act indignant, ignore the questions, turn it on the interviewer. Wattie did this even with one of his “own” wee chico, or is that “owned”
But in the interview, what angered me was when he started to swear, he knew full well BBC could not then use this interview. Him and his “wean” sally have more faces than a town clock.
Can’t resist asking if Lord Nimmo Smith’s last conversation with Mr Regan following the submission of his first report included the phrase “I’ll be back”, in his best terminator accent.
“STV understands the panel, which will also comprise of Charles Flint QC and Nicholas Stewart QC, are unlikely to sit before October”
Chair is Lord Nimmo Smith
My firm has used 2 of the above and I am confident they will be fair, balanced and neutral.
All in all, bad news for RFC(IA)!
Captain Haddock
I made the point on the night-shift about TRFC almost goading the SFA into flushing the plug on them. One could almost believe that Green wants the SFA to bullet them. After the outrageous whoppers he has told, the acute embarrassment he has caused the SFA, the dog-whistling, etc…, he must be sitting in his hotel thing, “What have I gotta do?!!!”
rab @ 13:08
Is there the possibility that the contact information for all clubs can be posted on the about page, also all the governing bodies, and all major newspapers and media outlets and tv news departments. Once we have all the contacts in one place i would suggest that everyone on this blog, individual club blogs and supporters trusts could have an agreement in place to bombard all the aforementioned groups on a set day and at a set time with emails, letters and phone calls, rather than a dribs and drabs scenario. If everyone forwarded BRTH’s excellent post tomorrow at 12:30 ( or an agreed timescale ) then it would receive the recognition it deserved, promote the blog, raise awareness of the true situation and may just be picked up by uefa/fifa or a news agency.
This is an excellent idea – please send any club or media or SFA,SFL,SPL contacts you may have to me @ Contax-SFM@outlook.com. I will pull them all together in a single (or multiple?) pages and submit as a shared document.
shouting from a distance says:
August 17, 2012 at 16:11
Is there any chance that we could summarise our questions that we have to the SFA / SPL on this matter and send it in to them in the forum’s name and politely ask for answers to the questions currently vexing the contributers to the forum? It would seem to be a way of trying to solicit the answers that the compliant media are unwilling to ask. At the very least it is worth a try. They can only refuse and then the situation can be cranked up from there.
Just a thought.
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I think that’s an excellent idea. However, if we’re looking for the the organisations that we’re asking questions of to take TSFM seriously then we must expect unquestionably high standards of ourselves. TSFM should be interested in the cold, hard, bloodless facts and that means consistently engaging in significant debate with each other and ditching some of the more superfluous stuff that’s been on the site of late.
There are some brilliant, well informed contributors on here who can inform the debate and there generally seems to be a consistency of purpose amongst most people. We have to go out and get what we want or we end up wanting what we get. Significant progress has been made so far. Shouting from a distance, I like your thinking. A fine idea.
Re. StarofDavid @ 16:05
The only way that change will occur is if you hurt them in the pocket.
Dont buy the DR don’t click on their website
Dont buy the herald don’t click on their website
Don’t buy the sunday herald don’t click on their website
DonT buy the SOS don’t click on their website
Don’t buy the Sunday mail or post don’t click on their websites
Don’t go to Scotland fixtures- much as it grieves- or buy the replica tops.
Don’t support the sponsors
Don’t pay your BBC license fee
Follow the above and change will occur PDQ
_______________________________________
TD from me – not realistic. We bampots can make a difference – hard work, research and concerted actions.
Stanley Matthews played for Rangers, the name of the helicopter driver who delivers the league trophy is Dave Young, and when Rangers tossed a coin after extra time against a Spanish team – and won, – then went on to win the cup – the coin used was a French Franc (which John Greig still has and keeps in a safe to this day.) (With other things.)
TEST
Gents and ladies, even TEST posts on this blog should be informative.
Shouting from a distance @ 16:11
You are quite correct – here are a dozen for starters (apologies to other posters for nicking some of their comments)
1. Duff & Phelps have disappeared.
2. The AT was to be reconvened to rubber stamp the 5 way agreement on SFA membership – did it happen or are we waiting for Yorkie to pay all the outstanding debts?.
3. The dual contracts investigation – has it started, when will it report ?.
4. The police enquiry still kicking about?
5. TUPE regulations not mentioned for a while but SFA are still with-holding registrations ?
6. Walter Smith, Souness and Ogilvie EBT’s all hushed up,
7. Oh nearly forgot the BTC result still to come, did they ever pay the wee tax case?
8. Administrators conflict of interest report to be returned – Lord Hope cannot still be on holidays!,
9. It cannot still be in the interest of creditors to be in admin, yes I know they cannot go to liquidation till the judge allows it.
10. Liquidation to start, BDO to be appointed – when ?
11. Audited accounts not provided.
12. MSM are doing an excellent job of keeping all these issues very quiet indeed until the football season has well + truly started.
punk bands being imprisoned in russia.
the south african police shooting dead demonstrators.
rosemary’s baby and friends in the msm still pedalling the old lies.
the more things change, the more they stay the same.
Ally says he is right and SFA is wrong.
Coming soon on STV news
Ally says he will defend his disrepute charge, as he was only speaking up the club.
On Sportsound. Why was Black boo’ed when he came on? Concensus after 5 mins was it was banter between him and the Hibs fans in the crowd. Did they ask any of the fans themselves? Of course not. That would probably have revealed the true reason why. Now we don’t want the truth out there now, do we Mr Dodds. Switched off in disgust.
From Yahoo Sport piece:
“Rangers continue to pay SPL wages to their players with recent recruits Dean Shiels and Ian Black apparently earning £5,000 per week. Their most recent signing, Brazilian defender Emilson Cribari, has spent 13 years in Italy with clubs such as Lazio, Udinese and Napoli.”
—-
Easy question for any journalist whatsoever …
Where is this money coming from?
Captain Haddock says:
August 17, 2012 at 17:04
Why do people think UEFA and FIFA differ in their working practices from SFA/SPL? They have no intention of involving themselves at any stage – unless they themselves come under some form of attack. SEVCO may create that problem by failing to pay European debts.
nowoldandgrumpy says:
August 17, 2012 at 18:18
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Ally says he will defend his disrepute charge, as he was only speaking up the club
=====================================================================
That seems fair enough to us. Thanks for coming, Alistair. Mind how you go.
Bye.
McCoist is a disingenuous individual. He was not speaking up for the club he was inciting anarchy. He is a bully, but no doubt the blazers will slap him on the wrist and tell him he is a young inexperienced manager and not to do it again.
Lets face it we are expected to swallow everything else.
Has anyone else noticed Ally has ballooned in weight, is even more ruddy cheeked and greyer and thiner in the hair department and also that his team couldnae beat carpets? Or is it just me?
Apologies, Captain. That’s what you said!
Derek J in the Evening Ranger, “I would not be surprised if Rangers win every home game.”
Wow no wonder he is a football pundit.
JW1949
Thanks for picking up the baton, ive been looking online for an e-mail directory for uk clubs, but it appears that such a thing doesnt exist. Can anybody suggest a quicker way to collect this information other than a painstaking trawl through every club website, and a copy and paste job to a seperate place, before forwarding it on to JW1949.
I will start with english league 2 and work up the leagues, everyone can feel free to claim a league and collect that info if they wish to help.
Sorry guys, i only access the blog on a galaxy s, and im not web savvy at all, i wish i could have produced a finished product for us all.
Away now to spend my friday night eyeball deep in websites 😀
And still some people still don’t get it. Ok let me lay it out: when you put a beggar on a horse HE WILL RIDE TO HELL AND BACK.
Charlieboy sensing the way the wind has been blowing for months, is blowing massive great big raspberries in the face of all the agreements he signed up to. Why? Cos he can! With impunity!
How? Do the words bend over sonny, I’m the big cahoona, you lot mean diddly resonate?
I’ve got all the aces, you’re holding a pair of duces. Jump higher.
It’s the old absolute power corrupting absolutely scenario
Result? Chaos rebellion (lol) near anarchy.
Solution. Grow a pair SFA.
jw1949 says:
August 17, 2012 at 17:55
6 0 Rate This
Re. StarofDavid @ 16:05
The only way that change will occur is if you hurt them in the pocket.
Dont buy the DR don’t click on their website
Dont buy the herald don’t click on their website
Don’t buy the sunday herald don’t click on their website
DonT buy the SOS don’t click on their website
Don’t buy the Sunday mail or post don’t click on their websites
Don’t go to Scotland fixtures- much as it grieves- or buy the replica tops.
Don’t support the sponsors
Don’t pay your BBC license fee
Follow the above and change will occur PDQ
_______________________________________
TD from me – not realistic. We bampots can make a difference – hard work, research and concerted actions.
______________________________________
Unrealistic to stop buying or clicking on trash? I respectfully beg to differ Sir.
Well we’ve heard from Ally, but was Charlie-boy not due to answer to the complaint re bogitry today as well.
Don’t tell me someone has to go to the expense of organising another Olympic opening ceremony so that the SFA can announce it’s decision at 9pm again tonight.
Bartin Main
In establishing the Sevco business case I left in provision for a Ticketus clawback.
They have lost £27m and the idea they will do walking away makes no business sense to me.
Of course this would be an anathema to a support who want to see their cash being reflected on the field of play and not used to pay debt, so it has to be kept quiet or tickets will not be bought.
The rumour of course may come from the same kind of conjecture or maybe the conjecture caused someone to dig.
If true The Rangers will be a pale shadow of the steroid version that is due to be liquidated.
I miss Craig Whyte ,he was a wonderful character to analyze, a classic Sociopath of our time
who just didnt have the charisma to cover it up
But if its charisma we are looking for then we look to the cheeky chappy himself , Mr TV Personality Alistair McCoist .
The charismatic figure we once saw has revealed more than an increased waistline and receeding fringe this past year .
Alistair has revealed symptons of Narcissistic Personality Disorder
Narcissistic Personality Disorder involves arrogant behavior, a lack of empathy for other people, and a need for admiration-all of which must be consistently evident at work and in relationships. People who are narcissistic are frequently described as cocky, self-centered, manipulative, and demanding. Narcissists may concentrate on unlikely personal outcomes (e.g., fame) and may be convinced that they deserve special treatment.
Narcissists tend to have high self-esteem. However, narcissism is not the same thing as self-esteem; people who have high self-esteem are often humble, whereas narcissists rarely are. Below is a quick checklist to see if Ally qualifies
Believing that you’re better than others
Fantasizing about power, success and attractiveness
Exaggerating your achievements or talents
Expecting constant praise and admiration
Believing that you’re special and acting accordingly
Failing to recognize other people’s emotions and feelings
Expecting others to go along with your ideas and plans
Taking advantage of others
Expressing disdain for those you feel are inferior
Being jealous of others
Believing that others are jealous of you
Trouble keeping healthy relationships
Setting unrealistic goals
Being easily hurt and rejected
Having a fragile self-esteem
Appearing as tough-minded or unemotional
Underneath all this behavior often lies a fragile self-esteem. They have trouble handling anything that may be perceived as criticism. They may have a sense of secret shame and humiliation. And in order to make them feel better, they may react with rage or contempt and
efforts to belittle the other person to make them appear better.
I think understanding how Sociopaths thought helped us to see Craig Whyte for what he truly was
I hope understanding how Narcissisists think will help us understand why McCoist behaves as he does . When the smoke clears ,all thats left is the mirror ,but we should let McCoist keep it
for its been his best friend for nearly 50 years
Mirror mirror on the wall ,who’s the cheekiest chap of all ?
A Expert says:
Has anyone else noticed Ally has ballooned in weight, is even more ruddy cheeked and greyer and thiner in the hair department and also that his team couldnae beat carpets? Or is it just me?
………………
I noticed it in his recent photo. Accelerated aging, most likely sourced in stress, lack of sleep and self-medication. Might explain his outbursts. All signs of a body and mind most likely showing signs of inflammation, high blood pressure and falling in on itself.
Objectivity is found in the public arena. When you find yourself out of kilter with the gaze of the bampots, all your previous experience of expectation and arrogance takes on the malignancy you saw in others.
Ally now begins to notice things about himself he didn’t before. Perhaps a slight twitch under the eye, imperceptible to others but like an earthquake on his face. Trousers feeling tighter, becoming more self conscious of walking, everything working its way up to an act with the consequence that the only way to feel real is too ground himself in the act and the drama and fiction of what RFC stood for.
I predict Ally McCoist will never occupy another football manager’s position after this debacle has run its course.
Auldheid says:
August 17, 2012 at 13:15
Smallteaser
The Compliance Officer has a role to fulfill,the competences and experience for that role were advertised.
If you are suggesting the incumbent is biased in any way the facts do not bear this out.
That McCoist should have been tried before now is due to interference from above,probably Regan who has totally misjudged the situation and will eventually be brought to account but my point stands, the system WAS changed (for the better imo backed by the squeals from Ibrox) and Regan was responsible for making it happen
===================================================================
If Regan interfered with any decision by Lunney then Lunney does not have the competency or the experience for the role.
If Regan did interfere in the McCoist situation and you still have time for Regan you are a very forgiving person. This would be yet another total misjudgment, in a long line of misjudgements from Regan.
You have always stuck by him through out this I have yet to work out why. There is nothing he has done since February 14th which has convinced me that he is the right person for the job. Even down to his stupid tweets early doors.
pesky word filter -try again
I miss Craig Whyte ,he was a wonderful character to analyze, a classic Sociopath of our time
who just didnt have the charisma to cover it up
But if its charisma we are looking for then we look to the cheeky chappy himself , Mr TV Personality Alistair McCoist .
The charismatic figure we once saw has revealed more than an increased waistline and receeding fringe this past year .
Alistair has revealed symptons of Narcissistic Personality Disorder
Narcissistic Personality Disorder involves arrogant behavior, a lack of empathy for other people, and a need for adm1ration-all of which must be consistently evident at work and in relationships. People who are narcissistic are frequently described as cocky, self-centered, manipulative, and demanding. Narcissists may concentrate on unlikely personal outcomes (e.g., fame) and may be convinced that they deserve special treatment.
Narcissists tend to have high self-esteem. However, narcissism is not the same thing as self-esteem; people who have high self-esteem are often humble, whereas narcissists rarely are. Below is a quick checklist to see if Ally qualifies
Believing that you’re better than others
Fantasizing about power, success and attractiveness
Exaggerating your achievements or talents
Expecting constant praise and adm1ration
Believing that you’re special and acting accordingly
Failing to recognize other people’s emotions and feelings
Expecting others to go along with your ideas and plans
Taking advantage of others
Expressing disdain for those you feel are inferior
Being jealous of others
Believing that others are jealous of you
Trouble keeping healthy relationships
Setting unrealistic goals
Being easily hurt and rejected
Having a fragile self-esteem
Appearing as tough-minded or unemotional
Underneath all this behavior often lies a fragile self-esteem. They have trouble handling anything that may be perceived as criticism. They may have a sense of secret shame and humiliation. And in order to make them feel better, they may react with rage or contempt and
efforts to belittle the other person to make them appear better.
I think understanding how Sociopaths thought helped us to see Craig Whyte for what he truly was
I hope understanding how Narcissisists think will help us understand why McCoist behaves as he does . When the smoke clears ,all thats left is the mirror ,but we should let McCoist keep it
for its been his best friend for nearly 50 years
Mirror mirror on the wall ,who’s the cheekiest chap of all ?
Auldheid says:
August 17, 2012 at 19:30
Is it true that ragers fans are not paying in instalments .
IMO Ticketus will be getting there money but don’t tell the ragers fans (not just yet ).SHHHHHHHHHHHHHHHHH.
I wonder how Charlie found Zurich last month ,I wonder if he bumped into any old friends
Was the Green Ticketus connection first talked about here:
From CQN:
‘I will be doing a blog on ex Rangers players and their Tax Secrets for next week on 9/7/2012.
But first how the money is being siphoned out of Ibrox back to Ticketus
The motivation to invest £5.5 million into a club which you have no conceivable interest in has baffled people all over Scotland ever since Charles Green intimated that he wanted to take control of Rangers football club.
Some think £5.5 million seems to be a bargain now that the club has been liquidated but at the time when Charles Green came onto the scene it was potentially a £140 million money pit. Green was still intent on purchasing the club through a CVA but with a paltry offer of £8.7 million for creditors, some would say a deliberate low offer to induce the Liquidation of the club thus ridding Charles Green of the HMRC bill.
So Charles Green bought the assets of Rangers football club for £5.5 million and started a new company called Sevco 5088 which will operate from the premises which used to house Rangers football club.
So the question is still, what is Charles Greens motivation?
First of all Octopus Investments are the parent company of Ticketus. Ticketus are the company who were left £26 million out of pocket when Craig Whyte put Rangers into Administration. Ticketus were Rangers second biggest creditors (first being HMRC) when Rangers went into Administration.
Octopus are investors in the company Zeus Capital who are running Sevco 5088 with Charles Green.
Let me bring to your attention Imran Ahmed and Brian Stockbridge.
Imran Ahmed founded and was Chief Executive of a company Allenby Capital Limited. Brian Stockbridge worked as a nominated adviser at Allenby Capital.
Allenby Capital were brokers and advisers for Octopus on numerous occasions in different business transactions.
On January 2012 Brian Stockbridge joined Zeus Capital and in April 2012 Imran Ahmed also joined Zeus Capital. On the 14th of June Charles Green bought the assets of Rangers and installs these two guys to help run Sevco 5088.
How does Charles Green fit into the Octopus/Zeus cog?
Charles Green is the only man in the whole equation that has any back ground in football or sports when it comes to business in all of this.
Zeus Capital worked with Charles Green when he was at Sheffield United.
Zeus worked with Charles Green when he disposed of Sports Management company, Gresham PE. Now Formation Group.
Remembering that Octopus are financial backers of Zeus Capital and Zeus are nominated advisers and brokers for Octopus there is only one man for the job. Charles Green. And the job is? Getting the Ticketus money back.
It was very recently announced that Sevco 5088 will be using Metro Bank as their banking facility as RBS refused an arrangement with Sevco 5088 and Fast Pay a direct debit company. I believe this to be bullshampoo.
Octopus will get their money back……………
Through a company called Caerus Wealth.
Their Group Investment Director is Ronan Kearney who is also the Venture Fund manager at Octopus Investments.
Their Chairman and CEO is Keith Carby who is the founder and Non Executive Director of Metro Bank.
(return of the friendly bank manager)
Octopus get their money without the Sevco 5088 (t)rangers fans even knowing it. Once the money is recouped, Green, Ahmed and Stockbridge sell the assets and that’s their bonus.
Or if an offer comes in that covers all cost and monies its a quick sale and thanks for the £memories£.
A foot note to all of this.
If any Chairman of any football team reads this. Sevco 5088 will not be investing in Scottish football in any way shape or form. So if they aren’t investing in the product, the quality will go down, the footfall of supporters will go down and your club will go down.
Its far better to allow a small club to grow than it is to have a big club rot and take you down with it.’
nowoldandgrumpy @ 19:50
Teehee 🙂 things are looking up!!! Thank you
Did anyone from East Fife FC take a rather large cheque (or an even larger bag of £1 coins) courtesy of TRFC to the bank today?
Not so long ago there was a guy who walked into Ibrokes and bought the job lot for £1 and was greeted with a fanfare ,he borrowed the money to pay the debt to the bank but the other debtors did not seem to concern him .
Then another guy came along and supposedly bought borrowers shares for £2 and it seems he bought the job lot with a £5,5m loan ,his reception has been mixed ,from police advice to hero status .
Could this be another honeymoon period ,who knows ?.only time will tell but if it is maybe then the 2012 fc fans will see the SFA have never kicked them when they were down ,it will have been there so called rescuers
Captain Haddock says:
August 17, 2012 at 20:18
Captain Haddock ….HOW VERT DARE YOU ,what are you suggesting
The same as me ,surely not
test
buckfastswallier says:
August 17, 2012 at 19:44
I remember a similar thing happening to Tommy Burns at Celtic and to Paul Sturrock at Tannadice, albeit in very different circumstances, their health was hammered with the pressure of the job. I will be astonished if McCoist is in post next year, it is taking so much out of him.
Smallteaser
I was not defending Regan, whatever credit he earned for pushing through the Disciplinary changes has been drawn on but that does not mean he did not deserve that credit.
He has had ample opportunity to retain it but as I have said recently, as his part in trying to save Rangers has become clear, he is guilty of a massive error of judgement that continues to undermine the integrity of Scottish football.
I do not know what pressure he is under but I suspect it is very heavy and I do not know how I would act in his shoes, but in terms of what he has presided over his performance as a CEO whom you would expect to reflect all that is good about football he has been a huge disappointment.
You are right about me being very forgiving, not to be and hold on to resentment is like drinking poison and expecting the other person to die.
Is Mr Green actually green behind the ears in terms of sectarian singing or deaf considering his comments on the bigitory front made after the Brechin game if he missed the H H chants. Did he find it a stirring little ditty and ask one of his aides the name of the song or did any of his Scottish advisors point out “by the way that is a song we are trying to stamp out” “Oh really, why’s that then” obviously not is the answer
I wont post the link
But dear me has Di Steph lost the plot altogether
“SCOTTISH PREMIER LEAGUE LTD PRIMA FACIA INSOLVENT! CELTIC FC FOUNDED THE SPL MONTHS BEFORE SCOTTISH LEAGUE ANNOUNCED SPLIT INVESTIGATION FINDS.
On the 13th May 1997 Company Registered under number SC175364 came into being under the name DUNWILCO (597) LTD.
On the 9th April 1998 (with an effective date of 1st April 1998- April Fool’s Day) DUNWILCO (597) LTD changed its name to THE SCOTTISH PREMIER LEAGUE LTD.
It is said that on 8 September 1997, the football clubs in the Premier Division decided to split from the Scottish Football League and form the Scottish Premier League.
That simply cannot be sustained because although company number SC175364 changed its name in 1998 on checking company records show it was ‘reserved to Eric J Riley/F McCann from inception.’
It is a matter of public record that Celtic FC in 1994 was minutes from bankruptcy until a certain Canadian businessman stepped in on 3rd march 1994 guaranteeing an overdraft facility of £7.850, 000.
The ‘disclosed’ overdraft at the time was said to be £5,000,000 which Celtic had exceeded but the actual overdraft and ‘special loan account’ was almost double that at £9, 875, 000.
The idea of the SPL was that of Celtic and overall Mr McCann was a shrewd and innovative player that for certain assured Scottish Football.
He floated Celtic and the rest is history.
It is however, interesting to note the whole concept of the SPL came from Celtic who months before any decision was taken had already organised the structure.
On the 30th October 2009 Sir David Murray made the following statement: “Rangers’ debt is only a fraction of their turnover so why is there all this fuss?”
It was to be one of many that the media carried knowing to be false.
But it is not only Celtic and Rangers that have played with ‘spinning the truth’ the Scottish Premier League Ltd are doing so and have done so for some time.
The latest available Accounts for the SPL show an insolvent balance sheet, with liabilities exceeding assets by £196,000.
That is of course the ‘official’ balance sheet because the true extent of the deficiency will only be revealed on the 28th February 2013 since the accounts filed showing insolvency were dated 15th August 2011.
An awful lot can happen in a year as has been the case at Rangers.
It seems questionable that Rangers were denied their rightful place in the SPL by a company that was effectively formed by two Celtic directors in 1997 and who themselves prima facia by far kin a worse insolvency position than RFC PLC.
Of course matters will be rectified by Christmas of this year with a reorganizational plan that may well mitigate and make amends to hard-done-by Rangers who incidentally are very far from near liquidation.
There is more than a realistic prospect the Administration of Rangers Football Club PLC will be reviewed by the courts sooner than most think. “
Is getting caught with your pants down not some form of initiation into Scottish Football ❓
Like many, I am waiting impatiently for Lord Hodge to give his view of D&P’s report to him on whether they exercised due diligence in the matter of making sure there was no conflict of interest between a former colleague’s (Grier) advisory role to CW, and their role as CW-nominated Administrators.
In fiddling about looking up ‘insolvency’ matters, I came across this article, which discusses conflict of interest in relation to the RFC(IA) case. If you haven’t read it already, it’s worth a look, as providing an idea of the things Lord Hodge will be looking for.
—————-
FROM MLM blog
“Thursday, 7 June 2012
Conflicts of interest and insolvency appointments
A great deal has been written on this subject following Mark Daly’s recent BBC programme on Rangers FC. Both the press and Duff and Phelps have focused on the role of David Grier, a partner in D&P, in Whyte’s bid to gain control of RFC. Specifically, the question which has been asked is did Mr Grier know that Craig Whyte intended to use money from Ticketus to fund his acquisition of the club?
That question is an important one but may not be entirely the right focus in deciding whether or not Mr Grier’s role gave rise to a conflict of interest which should have prevented D&P from accepting an appointment as administrators.
To understand the argument, we have to consider more generally what we mean by a conflict of interest in the context of an insolvency appointment.
The Insolvency Code of Ethics, which underpins the work of all insolvency practitioners, gives a number of examples of situations which may give rise to a conflict of interest. (1) Amongst these is a case where a ‘significant relationship’ has existed between the insolvency practice and the insolvent entity (Rangers FC) or someone connected with the entity (Craig Whyte).
So what constitutes a ‘significant relationship’ in this context?
In deciding whether a prior relationship with an insolvent is ‘significant’, the code of Ethics require practitioners to take a number of factors into account. These include, but are not restricted to, the following:
The nature of the work done by the practice for that entity
The impact of the work done on the financial state and/or the financial stability of the entity
Whether the fee received for the work is or was significant to the practice or is or was substantial
Whether the insolvency appointment involves consideration of the work previously undertaken by the practice, and
Whether reporting obligations arise in respect of the individual with whom the relationship exists (e.g. report on the conduct of directors of the entity).
So, before accepting Craig Whyte’s nomination to act as administrators, Duff and Phelps would have considered the nature of the work David Grier had undertaken for Craig Whyte and RFC both before and after Whyte’s acquisition of the club. They should also have considered whether their appointment as administrators would require them to review that work.
On the question of reporting obligations, every administrator is required to report on the conduct of those individuals who were directors of the company at the date of his appointment as administrator as well as those who have been directors in the 3 years prior to that appointment. In this case, the question for D&P would have been was the pre existing relationship with Craig Whyte sufficiently close that their objectivity in considering his conduct would be impaired.
David Grier’s work for Craig Whyte and RFC
What precisely did David Grier do for Craig Whyte and RFC?
The Report to Creditors issued by Duff and Phelps on 5 April 2012 confirms that MCR (now Duff and Phelps) assisted Liberty Capital in negotiating a settlement of the debt owed by RFC to Lloyds. MCR was also present at the meeting of the Independent Directors’ Committee when Whyte provided details of Liberty Capital’s ability to fund the acquisition and also to provide a working capital facility in the future. The report does not specifically state that the person in attendance was David Grier neither does it clarify what role David Grier/MCR had at that meeting.
Duff and Phelps/MCR’s involvement with RFC/Craig Whyte continued following Whyte’s acquisition. According to the 5 April report, this involved the provision of advice to the management team at RFC, the preparation of cash flows, liaising with a major creditor (HMRC) and reviewing the staff structure. MCR further reviewed the finances in June 2011. This review projected a ‘working capital shortfall’ in the following 3 months i.e. the projections indicate that the company will become insolvent insofar as it will be unable to pay its bills as they fall due within a fairly short period. The report is silent on what advice, if any, was given to the board of RFC in the light of these projections.
A further review followed in August 2011 which considered fund raising and restructuring options.
MCR’s role in negotiating with HMRC was terminated in September. It is not clear from the report whether the firm was retained in any other capacity between that date and their appointment as administrators in February 2012.
So that was the nature of the work done by Duff and Phelps/MCR. But was it ‘significant’?
If we return to the list of factors to be taken into account in considering that question, Duff and Phelps would have had to consider additionally the fee they had received for their prior engagements, the impact of their work on the financial stability of RFC (if any), and whether their appointment as administrators would require them to review the work they had carried out during 2011. They would have been clear that an appointment as administrator would carry an obligation to report on the conduct of their former client, Craig Whyte.
Duff and Phelps may have concluded that their relationship with Craig Whyte/RFC was not significant in this context. However, even if they felt that it was, that does not necessarily mean they could not accept appointment as administrators. In these circumstances, para 25 of the Ethical Code allows practitioners to consider whether they can take steps to mitigate any possible conflict of interest.
This may be done by changing members of the insolvency team or by putting guidelines in place to prevent an exchange of information between the insolvency team and any other team within the practice which had carried out work for the entity. (2) David Grier could not be appointed as he does not appear to have an insolvency licence but did the appointment of 2 other partners in the practice put sufficient distance between Mr Grier and Mr Whyte/RFC?
Other measures include the appointment of other insolvency practitioners to carry out part of the work – a review of the work carried out by the practice in the period before the insolvency appointment for example, or a review of the conduct of the directors of the company. In cases of substantial doubt, the practitioner might consult his authorising body. No other practitioners have been appointed in this case so presumably Duff and Phelps were satisfied either that the relationship with Whyte was not ‘significant’ in a regulatory sense or that the appointment of Messrs Clark and Whitehouse was sufficient to regain the necessary objectivity in the appointment.
The question of whether Grier knew that Whyte was relying on money from Ticketus to fund his acquisition, is important because it would imply a far closer relationship between the parties than was suggested by the Report to Creditors, in other words, more significant.
Such knowledge would also make it difficult to attack the transaction. Duff and Phelps have vigorously denied that Mr Grier or any other party in the firm had any such knowledge and have raised proceedings against Mr Whyte’s former lawyers in this regard.
Insolvency is inherently unfair. Because there is not enough money to pay everyone who is owed by the insolvent entity, there are always losers in the process. Some people will get more than others. It is therefore essential that any insolvency process is conducted with openness and transparency and that the law which underpins the process and determines who the winners and losers will be, is applied fairly.
There’s also a public interest argument. Those who are losers in the process have to be assured that the conduct of those who were responsible for the affairs of the company before its insolvency is investigated objectively. If the investigations reveal wrong doing or negligence in the conduct of the company’s business then appropriate action has to be taken and the relevant sanctions applied.
Insolvency practitioners have to be able to demonstrate that they are sufficiently objective to bring the full scrutiny of the law to bear on those who were in charge of a company prior to its failure. If they cannot do so, public confidence in the process is undermined and that helps no-one.
There is not enough information in the public domain to determine whether Duff and Phelps should or should not have accepted the appointment or whether the steps they took before doing so were sufficient to deal with perceptions of conflict of interest. Presumably they have applied the tests in the Code and are satisfied with the outcome. Perhaps they can strengthen public confidence by the rigour they apply to investigations into the conduct of those who brought RFC to the position it now finds itself in.
Code of Ethics, para 31
Code of Ethics, para 25
Maureen Leslie
http://www.mlmsolutions.co.uk
Posted by MLM Solutions at 08:51
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6 comments:
ggeko412 June 2012 07:41
I’m impressed Maureen, you have an extensive and active interest in this case, are you involved professionally or is it more of a marketing exercise?
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MLM Solutions13 June 2012 02:49
Hi there. A bit of both really. The entire Rangers case has been really interesting from an insolvency point of view – the initial spat over appointees, the Ticketus decision, the sale process etc. Also, MLM has spent the last couple of years trying to increase the uptake of CVAs which we think are hugely underused rescue tool in the SME market (which is our natural market). So commenting on the Rangers case was another way to raise the profile not just of MLM but of CVAs in general.
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ggeko412 June 2012 07:46
I think it is very important that IPs are guided by their Code of Ethics and that when their standards fall short they should be held to account, both in the interests of fairness and transparency but also to retain and enhance the public confidence in the insolvency process.
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MLM Solutions13 June 2012 02:52
This is the key point. As I said in the blog piece, insolvency is inherently unfair and tends to generate its share of those who lose out in the process. If public confidence in the rigour of the process is to be maintained, then practitioners have to be above reproach. In the matter of conflicts of interest, the Code also discussed the issue of perception of conflict. So, if others THINK you’re conflicted, that’s to be treated in exactly the same way as an ACTUAL conflict.
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ggeko412 June 2012 07:57
Where you say “Presumably they have applied the tests in the Code and are satisfied with the outcome.” That is very supportive of your collegues. Surely it would be for the creditors to seek to evidence and satisfy themselves of this as being the case. Were there any doubts in the creditors minds then they have recourse through the Act that enables the IP to tackle the appointment of the IP, as stated by the chap from the Inst Chartered Acc of Scot. I’m not sure, based on the BBC show I saw, about this issue, it seems to me creditors should be taking a more active interest in these types of cases. Is it common for creditors to act in any capacity during an administration or liquidation case or is it more common the IP rules the roost unchallenged, supported by collegues who are sure they’ve applied their Code of Ethics diligently? Bankers failed to self regulate, this whole insolvency process could be another time bomb.
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MLM Solutions13 June 2012 03:12
See above re PERCEIVED conflicts of interest. I made the comment to suggest the D&P presumably went over the tests in their own minds before they accepted Craig Whyte’s nomination – if they did not, they ought to have done. (All the firms I have been associated with have a process for dealing with this). But, even if they satsfy themselves, they should also consider how a prospective appointment is perceived by others (Article 49). Interestingly, this was raised by HMRC who challenged D&P’s appointment initially. They were heard by Lord Hodge, the same judge who heard the application for directions re Ticketus and one of the 2 best insolvency judges in Scotland). AS we all know, D&P got the job so presumably satisfied Lord Hodge (but I don’t know what was actually said).
Turning to creditor engagement, yes there are ways to get involved. Usually by way of a Creditors’ Committee (Admin) or Liquidation Committee (Liquidation). You can also vote for or against proposals in both Admin and CVA. In this case, the original proposals set out by D&P and published on 5 April, confirmed their intended approach to the admin. Only HMRC seem to have engaged by proposing modifications to D&Ps proposals. However, I think this is because people didn’t really understand the importance of the document and that’s a problem. My profession are not good at explaining things and seeking engagement. Your point about self regulation is well made – for the avoidance of doubt, I’m a strong supporter of it but the quid pro quo is accepting close scrutiny and getting better at engaging with stakeholders in the process.
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MLM Solutions
MLM is a niche insolvency practice offering specialist advice and, more importantly, solutions to a broad spectrum of financial problems. We pride ourselves on keeping up to date with the latest developments in our field so that our customers can be sure that the advice they get is technically excellent. But we don’t just offer best advice. We focus on the very specific needs of each of our customers to ensure that the solution we suggest is absolutely right for you. Collectively, the team at mlm personal solutions has over 40 years experience in dealing with a huge range of personal financial problems and offers a free consultation to help you find the answer to your particular problem. Our corporate team only works with owner managed businesses – our business is just like yours so you can be sure that the solutions we suggest will be tailored to your needs and, just as importantly, to your budget. So, for an hour’s worth of free, expert advice, contact us today on 0845 051 0210 MLM Solutions
ps BRTH can’t wait to see you apply the tao of pooh to this scenario
briggsbhoy says:
August 17, 2012 at 20:43
IMO he is neither ,he know what gets the hordes to part with their money and that’s all that matters .
I look forward to the hacks asking him about the songs he heard when in with THE BEARS but I know they won’t be asking .
The trouble Green now has is that the hordes think he condones their actions and he cannot say one word against them or they will keep their money in their pockets .
I predict they will be even worse than before and the SFA/SPL/CG will reap what they have sown .The only saving grace is that they will not be in European football and the SFA/SFL will do absolutely nothing about it .
Alas the real rangers football supporters will be even more marginalised and IMO will never have a voice as long as TRFC exists .
My memory tells me Regan commissioned the Nimmo enquiry.
Given that we now know he was determined to keep Rangers alive what were his motivations in setting up that enquiry?
Were terms of reference ever published and have details of the actual instances investigated ever been made public?
What direction was Nimmo and the subsequent panel who looked at the enquiry findings given?
If such direction was given by Regan but he believed Rangers survival was paramount was that enquiry part of a grand deception orchestrated by Regan?
Surely the footballing public requires answers?
A Expert says:
Has anyone else noticed Ally has ballooned in weight, is even more ruddy cheeked and greyer and thiner in the hair department and also that his team couldnae beat carpets? Or is it just me?
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Forgot to mention he seems a lot less happy go lucky and quite short tempered and prone to short but loud public outbursts. He’s never like that at oor Brig O Weir Gala Day – oh bring back the cheky one please.
Auldheid says:
August 17, 2012 at 21:11
I agree ,also why would the authorities want to make it harder for 2012 fc to rise through the leagues ,hence the transfer embargo that begins when the window shuts .
Yes any neutral football fans looking in ,it’s not a typing error ,it is indeed a TRANSFER EMBARGO THAT BEGINS WHEN THE TRANSFER WINDOW CLOSES and what did the guilty club do to deserve such a draconian measure .
Well they COMMITED AN OFFENCE JUST SHORT OF MATCH FIXING .
I will also predict that this so called transfer embargo will have a few wee escape clauses in it but we won’t know them till the dust has settled .
Remember where you heard it first .
Every time I see Sally these days I’m reminded of The Simpsons episode where Mr Burns adopts Bart as his son and heir.
In no time at all, Bart is develops a cold outlook, curvature of the spine and utters “exxxxcccellennnt” with impunity.
It’s all there, the grey hair, the brogues, the cardigan, and the misplaced notion of superiority.
Textbook stuff really.
MLM Solutions youse say? Turn back the clock and wonder where she practised at the time RFC were getting SIMPLY the best tax advice.
Surely these guys can deliver the truth and a just punishment:
Nimmo Smith is a former senator of the College of Justice and has served as an insolvency judge.
In 2002, he was one of five judges who heard the appeal of Abdelbaset al-Megrahi, the man convicted of the 1988 Lockerbie bombing, at the Scottish Court in the Netherlands.
Flint is a commercial barrister, arbitrator and mediator specialising in banking and financial services who has wide experience in sports law.
He was this year appointed by Uefa to the European football governing body’s club financial control body adjudicatory chamber and has acted for players and sports organisations, including rugby unions, Grand Prix teams, the International Tennis Federation, the British Athletics Federation and the Football League.
Flint is vice-president of the National Anti-Doping Panel and was chairman of the disciplinary panel appointed by UK Athletics in the case of Dwain Chambers in February 2004 and a member of the Ethics Advisory Group established as part of the London 2012 Olympic bid.
Stewart, who has sat as deputy High Court judge since 1992, is an appeal board chairman and specialist member of the Football Association judicial panel.
So, basically, CG is duping the DUMBEST FANS ON PLANET EARTH into buying season tickets so ticketus can get their dosh back and the DUMBEST FANS ON PLANET EARTH, are falling for it all over again. 🙂
Tea and a biscuit with your season ticket, dummy? Don’t worry, it’s on ticketus. 🙂
BRILLIANT.