Guest Post by James Forrest
Those who like to read the techno-thrillers of Tom Clancy will remember well the scene in The Sum of all Fears, when the nuclear bomb explodes in Denver, outside the stadium where the Super Bowl is being played. Clancy handles the moment in two very distinct chapters. The second is a vivid and frightening examination of the explosion’s terrible effects as they are felt, firstly in Denver and then experienced around the world.
Before that, he devotes an entire chapter to the mechanics of the explosion itself. Chapters like this are either what attract readers to Clancy in the first place or turn them off entirely. It is technical, it is complex, and the layman who reads it and fully understands it is indeed a massive geek. Of all the times he has loaded the reader with technical detail, this is probably when he risked most in terms of keeping you interested in the story. Yet it works. The chapter is not long, but nor is it short. And the events in it span not seconds but fractions of a second
It was in that chapter I first learned the term “shake”, so named for the old aphorism “a shake of a lamb’s tail”. A “shake” is a term used in nuclear physics. It represents ten nanoseconds. To grasp fully the size of that, consider that there are a billion nanoseconds in a second. The chemical process involved in a nuclear detonation involves a number of “shakes”, with a chain reaction usually completed in 50.
Clancy’s decision to devote an entire chapter of the book to a few nanoseconds came back to me over and over again during the weeks and months of the Rangers crisis. It became clear to me that, drawn out though the events following administration were, what we were seeing was not the effect of the explosion but the explosion itself. Those months were our nanoseconds. Every day, every revelation, every moment we thought was a separate event, was merely a peek inside the bomb case, at the chemical process of a chain reaction.
I would say the chain reaction was completed on the day HMRC announced they were refusing the CVA proposal. That was the detonation. It’s only now we’re witnessing the explosion, and its effects, and in my view we are still a long way from the end of that process. We have had the initial double flash thermal pulse and we’ve seen some EMP effects, but the real damage is still to come. The shock wave and the fireball have yet to spread, and their cumulative effects could yet annihilate Ibrox and extend as far as Hampden.
Am I making claims of “financial Armageddon”? No, I’m not. I never believed the collapse of Rangers would devastate Scottish football. I thought then, and now, that it was scaremongering nonsense to even suggest it. It didn’t matter to me whether the authorities were spreading those stories because of a deep-seated love of the Ibrox club, or because they had bonuses at stake, or out of their own internal, personal weaknesses. Those stories were inconsistent, based on worst case scenarios which were never likely to materialise, and insulting. The notion that the game in this country amounts to no more than one or two teams is offensive.
I love football. I always have. I’m a Celtic supporter, but my interests in the game extend far beyond my own club. At its best, football is a tremendous unifier of people, from those wonderful stories about Christmas Day in the trenches of World War I to the matches organised every year between Palestinian and Israeli children. The game has the potential for tremendous good. I am proud that my own club’s supporters have honoured the dead of Hillsborough and Ibrox. I am proud they unfurled a banner to the Benfica player Miklos Feher, and invaded Seville and showed that city how to party. I am proud of every moment when the supporters of a club applauded an injured player, or staged a silence to honour an official or competitor at another team. Although there are some who would use this sport in a divisive way, who would hijack it for their own ends, I believe this game can still be an inspiration, and find the best in all of us.
I think what happened during this summer, as the fans of every club in the land made their voices heard, was one of the greatest moments in Scottish football’s recent history. I believe it will have an impact far beyond one season. I think it was special.
My concern, as I’ve said, is that the appalling effects of the detonation at Ibrox are still to be fully realised. I am worried about the impact they could yet have on all of us.
Let me be quite specific about the two things that worry me most. They are to do with the decision to grant Sevco/Rangers a license to play in the Scottish Football League this year.
First, I believe the license was granted without sufficient guarantees being given by Charles Green and others that they would respect the decisions taken by the independent judiciary panel of the SPL in relation to EBTs, and secondly, I am concerned that not enough is known about Green and his financial backers, or plans for Rangers, for the authorities to be satisfied that the club is in good financial health. I don’t believe for one second anyone can allay my fears in these two areas. It is obvious to all that due diligence has not been done, and the entire situation at Rangers/Sevco is still shrouded in doubt, and that anything may yet happen.
The independent panel investigating dual contracts is going to have to make the most momentous decision in the history of the game in the UK. I do not believe what Rangers are accused of has any precedent. We are talking about a decade or more in which the results of every single match might be in doubt. Every single game. The rules were not written to envision such an appalling breach of faith. It would seem almost inevitable that stripping of titles will be the smallest of Charles Green and Ally McCoist’s concerns if this verdict goes against them.
Frankly, I don’t see an alternative to suspending Rangers membership of football in this country for at least two years, with points deductions and monetary fines to follow when the suspension period is done. This is not harsh; in fact it falls far short of the maximum penalty, which is expulsion from the game altogether, and as it is the authorities are going to have to do a damned good job of setting out the reasons why that ultimate sanction is not applied. It will not be enough to say it would damage the game in Scotland to wipe the club away. To allow a decade of malfeasance to pass without that ultimate sanction would create the perception that Rangers is above the law, and I cannot think of anything that would do the game more harm than for any club to be considered too big, or too important, to be subject to the regulations.
With their money on the table, I don’t see any way Charles Green and his cohorts will accept the judgement of the independent panel if it has an impact on their plans to recoup their investments. With the way he’s rallied the Rangers fans behind him recently, by essentially talking about a conspiracy against them, I don’t see how he convinces them to accept sanctions, even if he personally was inclined to do so. He has painted himself into a corner where now, if he wants his money at all, he has to fight, and keep on fighting. Without the written guarantee that the club would accept whatever the panel decides, without recourse to the law, I will be shocked if this matter doesn’t end up in the courts somewhere down the line, because I don’t think for one second he signed up to that particular demand.
I think the SFA backed down on this, the most fundamental matter of them all.
Which isn’t to say the due diligence matter isn’t worrying, because, of course, it is. Again, no-one is going to convince me that the SFA has conducted proper due diligence on Charles Green and his backers. No-one will convince me they are satisfied that this club is in safe hands, and that the game in this country will not be rocked by a further implosion at Ibrox. They failed to properly investigate Craig Whyte, because of lax regulations requiring disclosure from the club itself, regulations which are just a joke, but they can be forgiven for that as the press was talking sheer nonsense about him having billions at his disposal, and a lot of people (but not everyone!) were either convinced or wanted to be convinced by him.
To have witnessed what Whyte did, to have witnessed the Duff & Phelps “process” of finding a buyer, and having Green essentially emerge from nowhere, with a hundred unanswered questions as to his background and financing, for the SFA to have given this guy the go ahead, only for it to blow up in their faces later, would annihilate the credibility of the governing body and necessitate resignations at every level. There would be no hiding place.
At an early stage in the Rangers crisis, a couple of people told me they thought the club would not play football for at least a year. I told them of all the possible scenarios that was the most unlikely, because I honestly could see no way back for them once they had gone. There is no precedent I am aware of, anywhere, for a football club taking a “year out” only to return. Certainly, in the context of the Scottish game I didn’t see how it could be done without creating one almighty shambles, or by bending the rules until the elastic snapped.
Yet I’ve since become convinced that it was the correct course of action. The club calling itself Rangers FC is still in a state of flux. The issues still surrounding it are enormous and potentially devastating. There are any number of ways in which the entire edifice could utterly collapse. The liquidators and HMRC could yet challenge the takeover, or the coming share issue. Craig Whyte may yet emerge and take a claim to the courts. The share issue itself could be an utter failure, leaving the club unable to meet annual running costs. All of this, even without the vast effects of the EBT case, which has the potential to wash the whole club away.
Had Rangers been out of the game for a year, these issues could have been properly explored, dealt with and put behind them, and the game as whole.
Of course, it’s just possible that the worst is over. It’s possible that this particular nuclear detonation, like the one is The Sum of All Fears, is an enormous “fizzle”, that the appalling destruction unleashed will not be on the thermonuclear level which could obliterate our hopes of a fresh start, of forward motion for the whole game. It might be that everything at Ibrox is hunky-dory, that this, all I’ve written, is the product of a febrile imagination, on the same level as the financial Armageddon nonsense we spent the summer hearing about.
It may well be, but only if the people who’ve been right all along have suddenly gotten it wrong. The evidence all points to something big, and bad, coming this way.
The smart folks will be hunkering down in their shelters for a while yet.
James is a co-editor of the Famous Tartan Army Magazine, latest issue out 17th October (digital, and free), featuring women’s football
The way I see it, Imran Ahmad – who has worked alongside Octopus and is an old pal of Craig Whyte – was brought in by Fudd & Duffer within days of RFC PLC RIP going into Sham-inistration.
His job was to look after the interests of his paymasters. First of all he sent new Zeus Capital recruit Brian Stockbridge north to Glasgow.
In the following months F & D and Ticketus searched in vain for a mug to take the club off their hands.
Then wee Craigie mentioned Green, and he was jetted in to act as a noisy frontman.
He quit as chairman of convicted bank fraudster Rafat Rizvi’s firm Nova Resources, then cobbled together a few investors from his time working in the Middle East and Asia, all the better to camouflage who the real owners of Sevco are.
Great lengths have been taken to hide the identities of all but the smallest and most obscure investors.
But the fact that Imran Ahmad is running the show is a fair pointer towards who the most important ones to this point are.
Now, though, it is becoming evident that Whyte believes he has been stitched up – and he’s threatening to spill the beans.
I would imagine Messrs Clark, Whitehouse, Ahmad, Stockbridge and Green will be sweating mightily.
As will whoever it was who made that initial £23million investment into Ticketus 2.
Meanwhile, if the BBC and McMurdo Junior can squeeze these illumnating nuggets of information out of Mr Whyte, why have our tabloids run away from the chance to interview him?
Answers on a postcard to: Murray Lapdogs (Severely) Limited, Succulent Lamb House, Shredded Credibility Street, Baaaa-mingham.
There is one person who seems to be off the radar and has been for months
Andrew Ellis
Ellis was the man and the only man to have made a bid for Rfc* in the 6 long years
that Mister Murray (might as well get used to that title) was attempting to sell his
hot potato .
Son of a QPR chairman ,a failed attempt to buy QPR and a takeover of Northampton
gives Ellis his football background and a possible link to ex Sheff Utd supremo Charles.
(its a small world)
But the fans made their displeasure known and Mr Murray made it known that
selling to Ellis was not in the best interests of the club :
He didnt fit the profile , a bit like Bill Millar and initially Mr Charles .
What Ellis needed was a life long Rfc* fan ,Scottish , preferably with off the radar wealth
and a background in dealing with insolvent companies .
Of course only a Sociopath would take on such a task
What was the media line from the Daily Murray, the biggest pack of lies in the whole saga,
I’m sure we need no reminding of the picture they painted of Craig Whyte
By January Ellis popped up as a 29% shareholder in the club with a seat on the board
Not bad going for someone chased away from Ibrox by Mr Murray as not in the best interests of the club
What was the media line at the time from the Daily Murray
“Fans can trust Andrew Ellis”. Daily Record. 8 June 2011.
When Whyte put the club into administration , Mr Ellis claimed he was “duped” by Craigy
but since then Mr Ellis has said nothing . This is the man who can link up the chain
from Murray to Ellis to Whyte to Ellis to Green
overheard a sevco supporting workmate yesterday saying that he has inside info that the spl will go bust before the end of the season … np doubr due to the fact that the great glasgow sevco are not there anymore.. i was going to start asking him who’s fault that would be if it ever happened but i couldn’t be bothered as its like taking to a brick wall with some of these supporters…talk about clutching at straws…
Does any one else think that Vlad is taunting the SPL hoping for a reaction, that will allow him to have a real go at them
He may be a loose canon at times, but the man is not stupid
McMurdo’s interview with Craig Whyte should finally out to bed Traynor’s continuous tirade that his pal -S(DM)c is as innocent as a new born babe wrt the bears predicament.You must give credit to McMurdo for publishing it. Gives the Ibrox fans some thing to mull over.
From the Craig Whyte “interview” with Bill McMurdo.
“Yes, we budgeted for £5m Europa League income and £1m Scottish Cup income. We were deprived of both which would have got us through to the end of the season.”
Quick subsidiary question there Craig, if you were short of £6m to get to the end of the season then why exactly did you feel the need to steal twice that amount from us all.
Oh and another wee question, when you say
“It was a combination of those factors but mainly because Duff & Phelps didn’t stick to what they agreed which was a quick administration process at a fixed fee which would have delivered it back to me minus the tax liability.”
Are you suggesting that you put a company into administration, handing it’s control over to a Court appointed administrator, but that you had agreed in advance how the administration would go, and how much it was going to cost. With the pre-determined result being it coming back into your hands with the creditors (again all of us) getting shafted. Is that how administration works. You emplo an administrator on a fixed fee to do your bidding.
Oh I see, you go onto re-iterate that one.
“Because they agreed to deliver it back to me for a fixed price in a short time.”
Look he got something right
“The club also had running cost of £10m per year more than income so it was never run as a sustainable business.”
Still not much different Craig. Costs are down, but so is income. What with being in SFL3 and no European money for at least 3 seasons.
Agrajag – actually it did come out in an email
It revealed that Whyte and Grier had agreed a “maximum” fee of £500,000 for the work done by Duff & Phelps’ representatives, Paul Clark and David Whitehouse.
When they published the proposals for prospective owner Charles Green’s Company Voluntary Arrangement on Tuesday, however, Duff & Phelps’ fees and legal costs had risen to £5.5 million.
In an e-mail dated Feb 11 (subject heading ‘Project William’), Whyte informed Grier that he wished “all costs pinned down and no unpleasant surprises later on”.
Whyte stressed that costs should be capped at “a maximum” of £500,000 and that the process “should be short” and “preferably in hours”, adding, presciently, “we may be hit with some curve balls”.
Whyte also added that he would “like to speak to David (Whitehouse) and Paul (Clark) to make sure that they’re comfortable with the fact that we might end up with HMRC being hostile”.
http://www.telegraph.co.uk/sport/football/teams/rangers/9303670/Rangers-emails-shows-correspondence-between-Craig-Whyte-and-David-Grier-of-Duff-and-Phelps.html
Here is actual email allegedly
http://www.bbc.co.uk/news/uk-scotland-glasgow-west-18268349
The attendance figures and the competition looks as healthy/poorly as many a year. If the SPL are about to go tits up as suggested by numerous peeps, then its been trading whilst insolvent for some time.
Has anyone given a decent explanation of VR’s f***** right about with the wages ?
At the start of this, I remember longing for his entrance (I don’t roll that way), but he has turned out to be a distraction when he should be in his element. Can someone please explain in a way that suggests that his actions are causing massive headaches at Hampden, ta much.
Danish Pastry says:
Monday, October 22, 2012 at 16:46
This bit is more or less an admission of the plan:
“I asked Whyte directly what went wrong with the process of administration. If he intended to put Rangers through a quick CVA and have the club handed back cleansed of toxic debt, what happened to waylay this plan? Was it unprecedented media interest, reaction of fans or any other factor? Was he betrayed by anyone?
Again, he was forthright in his response:
“It was a combination of those factors but mainly because Duff & Phelps didn’t stick to what they agreed which was a quick administration process at a fixed fee which would have delivered it back to me minus the tax liability.” “
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The agreement was for a quick pre-pack and a ‘bill’ from D&P for £500,000. D&P welched on the deal when they used a technicality to shaft TGEF. There are a series of links on RTC detailing what was meant to happen. I’m sure the links are to e-mails between CW and David Grier.
Must always refresh before I post. Must always refresh before I post
blackboab says:
Monday, October 22, 2012 at 18:47
…talk about clutching at straws…
——
We’re still on Rush at the minute. Marillion may well be next, though.
Vaguely on-topic … popped over to RM to see what they were saying about Mr Charles today. Unfortunately, their “discussion” soon degenerated into whether or not Super is a tramp because he wore a tracksuit on Saturday.
They really don’t like that, do they? One might say “obsessed”.
angus1983 says:
It’s the Crime of The Century by Supertramp
It all fits Angus it all fits 🙂
Regarding first meeting between our hero and Murray; corsica had two eye-witnesses who could place both Whyte and Ellis at Murray’s villa (incidentally not in Antibes) prior to this alleged first meeting in 2010. Over the summer another associate of corsica was able to have that confirmed by our old friend Ellis himself. I’m off to cinema now so can’t check back but I’m sure the info was posted previously.
Forget Ellis by the way. He went swimming with sharks only to discover he couldn’t swim. He’s nothing more than a barrowboy.
How does the SPL go bust, what are the mechanics of such an outcome.
Is the SPL a company, registered at companies house and governed by the same rules as other businesses.
Is the SPL basically an appointed board from elected selected members who control the company, who’s trade is to organise a league and attract sponsorship for the league, this makes up the total revenue for the company.
I recall discussions about this on RTC, and if i remember correctly, the SPL is non profit making and after company expenses, disposes the total revenue left appropriately amongst its members and ‘breaks even’ every year.
As revenues would be almost set in stone due to termed contracts, this allows a distribution model with garauntees of prize monies.
So i ask again, how does the company go bust, have expenses went up, is this because of recent legal expenditure that has left the coffers low. What about the tv deal, has there been a drop in income or the has the deal for trfc games taken money out of the SPL turnover.
Apologies if that is nonsense to the business minded. ( or is something i really should have learned after 19 months amongst you guys )
Can someone explain the quick administration?
First you need to be insolvent and next you need a CVA which has always been a planted story from the beginning [and still is] Even if predisposed to grant a CVA how could this be economic – that`s 5-10m a year just in interest and charges – it’s nonsense. In fact deliberate calculating nonsense.
This was always going to a newco and liquidation – and they knew it – and they planned said outcome for a successor entity. How could there be a short administration to clear the BTC and hand it back to CW? They needed a new buyer for a newco and that needed time to find one.
The nonsense spin just goes on and on
_______________________
Let’s try this again
The CVA has always been a planted story from the beginning [and still is]
The pre-pack effort was blocked on Feb 13 by HMRC – Now why would anyone believe, that after years of effort and massive expense pursuing the BTC and other aspects, HMRC would allow a pre-pack easy escape route for CW? Why would they give up the investigative liquidator option?
Kinda think after years of experience with HMRC and months of planning they had that one taped
Now why did HMRC not object to D+Ps appointment?
.
It’s deliberate calculated nonsense
rab says:
Monday, October 22, 2012 at 20:23
How does the SPL go bust, what are the mechanics of such an outcome…
=============================
rab, you naughty boy !
You can’t keep re-posting the above comment, hoping we might have forgotten it !
Some of us do read your comments…and some have memories like elephants… 🙄
timtim says:
Monday, October 22, 2012 at 18:34
—————————————————-
When the Ellis bid surfaced, Malborough Trust acted as spokesmen for the bid. David Gilmour, the contact at Malborough Trust, left when the Ellis bid failed in June 2011. Gilmour then turned up at Global Sports Management with Ellis, Chris Akers (former Leeds United chairman- the “shell maestro” – see Andrew Regan and Sportsworld Media Group), and Peter Trembling. The Ellis bid was called…”Operation Charlotte.”
Corsica said there was an Ellis and Morpheus connection. Ellis had mentioned them in other contexts. If you recall the link made to Giles Green who was registered at the same address as Morpheus in Archadia House Southampton (BDO secretarial services, Cheval Developments Limited, director – G. Green.)
And QPR’s caterers? Former (-S)DM© company Azure.
All circumstantial, of course. I suppose we could always wait for the MSM to tell us what’s goin’ on.
famoussong says:
Monday, October 22, 2012 at 16:52
Scottish FA@Scottish_FA
In relation to 2011/12, at time licence was granted tax bill was not overdue.
——————————————————————————————————————–
Did they say what tax bill?.
This may(or may not) be doublespeak.
The Wee Bill is the one we want to know about.This tweet specifies hee haw.
Looks as if AT has a death wish about him if he intends to wander round Govan with a camera.
alex thomson @alextomo
@Gri64 soon will be reporting Gordon – we start fllming on R fans’ criminal underclass tomorrow in Scotland.
easyJambo says:
Monday, October 22, 2012 at 16:45
An odd couple of tweets from the SFA out of the blue
Scottish FA@Scottish_FA
1/2 To clarify, no licence was granted in April as club didn’t meet criteria for 2012/13.
Scottish FA@Scottish_FA
2/2 New company will have to provide 3 years audited accounts for club to be eligible for future UEFA competitions
I don’t know what these were in response to.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Looks like Charlie is pestering the SFA again…
Strange how in the first tweet they refer to the club…in the second the Company..
Someone needs to inform the SFA that its not the Company that plays in EUFA competitions…its the New Club that will have to provide 3 years of audited accounts?
http://scotslawthoughts.wordpress.com/2012/10/22/the-rangers-shareholder-list/
twopanda says:
Monday, October 22, 2012 at 17:26
Can someone explain the quick administration?
,,,,,,,,,,
twopanda
There are many more knowledgeable insolvency experts on here than me.
But for what its worth heres my understanding
The CW plan (admitted to Bill McMurdo today)was to apply for a prepack Administrative Receivership under which there is only liquidation and sale of assets in accordance with the predetermined instructions of the floating charge holder. This type of liquidation was abolished in Sept 2003 However it could still have been applicable to RFC as the 1999 LBG floating charge acquired by CW predated the abolition. For Administrative Receivership to take effect the Administrator must be appointed by CW acting in his capacity as floating charge holder.
On Feb 14 under pressure from HMRC wishing to appoint a “normal” Administrator CW may simply have appointed D&P in his capacity as owner of RFC and not in his capacity as floating charge owner. If so his ability to control events as floating charge holder, vanished overnight
.Alternatively CW did indeed appoint D&P as Administrative Receiver but they subsequently rejected his floating charge validity ( without going to court) on the instruction of D&P New York who told them to play it by the book .thereafter they milked the situation for fees Eventually with a PR diaster on their hands it dawned on them that without CW supporting a phony CVA their fees would consume the entire Creditor pot without ever selling the business as a going concern
One thought that may square the circle is the conundrum of exactly when Green got involved.
If he had been set up by CW to buy the assets under a prepack receivership he may have approached D&P in Feb 2012 expecting hugs and kisses only to find they hated his aftershave and chased him as they were playing it by the book
Celtic Underground @celticrumours
“@Scottish_FA: In relation to 2011/12, at time licence was granted tax bill was not overdue.” <- this is factually incorrect is it not?
Humble Pie says:
Sunday, October 21, 2012 at 16:46
‘Apocalypse – The End of History’
—-
I’ve only just read this excellent piece, and have printed it off so that I can re-read often,away from the pc.
To misquote Alexander Pope,..’what oft was thought, but ne’er so well expressed’.
torrejohnbhoy says:
Monday, October 22, 2012 at 20:43
http://scotslawthoughts.wordpress.com/2012/10/22/the-rangers-shareholder-list/
==============================
Assuming Paul’s list is accurate;
– no majority shareholder
&
– “Ally McCoist, Rangers – 1 million” [4.5% of issued]
So McCoist does have a stake then.
Don’t think that was the smartest decision by McCoist… 🙄
The EBT Saga & the Sporting Stability of Scottish Football
Ibrox StadiumScottish football is now entering into another important chapter in its modern history, as it attempts to investigate the allegations of non-disclosed player payments. Although the rules are clear on this point, it is the application of such rules that would determine the observance of natural justice and due process. The latter is, perhaps, the most important element in the determination of a fair and transparent process.
We would not attempt to determine the outcome of the investigation and/or any possible decision-making on the matter. In any event, there are only two possible determinations, which, of course, would have to be based on the evaluation and critical examination of the evidence. One determination may produce no results whatsoever, in which case, no sanctions could be applied to perpetrators, whether they are private individuals and/or corporate entities.
The second determination, may indicate possible breaches of the relevant rules. In this scenario, the relevant Commission would have to apply sanctions on the perpetrators. But here we would have to face serious questions as to whom the sanctions are going to be applied against. In terms of corporate responsibility, the entity which may be responsible for such non-disclosed player payments schemes, no longer exists in terms of football, or at least, it does not possess a membership for the purposes of participation and, therefore, acceptance of the rules.
Even if we accept that the membership of the old entity has now passed on to the new entity, does this mean that the new entity has accepted liability for the improprieties of its predecessor? If the answer is yes, then we would have to respond to further questions in relation to the corporate structure of new Rangers. There may be a situation where the limited liability company is different to the sporting club, which could operate in a ‘subsidiary’ form, for the purposes of participation in Scottish football. Does punishment apply to the corporate entity or to the sporting entity, or to both? Rangers fans, of course, would ask the reasonable question as to the possible justification for ‘punishing’ a new entity for ‘sins’ unrelated to it.
Further, we have to express serious concerns if punishment is to be applied on the new sporting entity of Rangers. If the sanction relates to participation in the league [and the rules certainly include such sanction], are we facing, yet again, another aspect of sporting uncertainty? What would happen to the other clubs in the league and how would the sporting integrity of the competition be protected?
Finally, the selection of the members of the SFA’s Independent Commission clearly demonstrates the quality of the investigation and any possible decision-making in the matter. Given, however, that the Chairman of the Commission has already presided over an Independent Inquiry, on a previous Rangers matter, it may be argued that the present Independent Commission may be better served by a different Chairman. Although there may be similarities between the present matter and the previous one, we are of the view that the merits of the non-disclosure player payments scheme are different to any other previous considerations.
Whatever the final conclusion of this bitter story may be, it is important that fairness, equality and transparency are observed and sporting stability is maintained. Scottish football has suffered enough already and it is important that the integrity of the competition is restored back into the minds of the fans.
Dr Gregory Ioannidis
18 August 2012
StevieBC says:
Monday, October 22, 2012 at 20:55
torrejohnbhoy says:
Monday, October 22, 2012 at 20:43
http://scotslawthoughts.wordpress.com/2012/10/22/the-rangers-shareholder-list/
==============================
Assuming Paul’s list is accurate;
– no majority shareholder
&
– “Ally McCoist, Rangers – 1 million” [4.5% of issued]
So McCoist does have a stake then.
Don’t think that was the smartest decision by McCoist…
,,,,,,,,,,,,,,,,,,,,,
Not so sure about that………
What if Ally is getting 1m freebie shares instead of win bonuses?
That would make it a really good deal
paulmac2 says:
Monday, October 22, 2012 at 20:36
———————————————–
Between mounting Michelle McManus and posting on FollowFollow I’m surprised Daryll Broadfoot has time to twitter. With no PR experience at all, the talentless former copy-boy of the Herald was a Gordon Smith appointment.
On a completely unrelated topic, I wonder who was behind the FF Britney lampoon campaign?
Thanks goosy
That as you say in the first para aligns so
I can only add – from August creditors report [13] on secured creditors – admins statements are couched in “believed” “understood” “and liaising” – so it’s not resolved they rejected the security or were able to
StevieBC says:
Monday, October 22, 2012 at 20:55
torrejohnbhoy says:
Monday, October 22, 2012 at 20:43
http://scotslawthoughts.wordpress.com/2012/10/22/the-rangers-shareholder-list/
==============================
Assuming Paul’s list is accurate;
– no majority shareholder
&
– “Ally McCoist, Rangers – 1 million” [4.5% of issued]
So McCoist does have a stake then.
Don’t think that was the smartest decision by McCoist…
++++++++++++++++++++++++++++++++++++++++++++++++++++++++
I assume the “Ian Hart” with 450k shares is the same Ian Hart who vehemently denied any involvement when outed by Charles Green.
Do we know the par value of these shares?.
I have wondered if McCoist’s shareholding is in lieue of salary to some extent.
StevieBC
sorry mate but i am a bit puzzled by your reply, i don’t remember asking something similar and i was genuinely trying to understand how and why the SPL would go bust.
Anyone wondering who owns the 2.2m shares unaccounted for on the list?.
Hope they did’nt cash in my pledge.
A question might be – was money paid for these shares? Or are they issued in lieu of payment, or issued against loan notes or other financial instruments, or are they conditional?
Are they a taxable benefit in kind?
previouslyknownassnowdog says:
Monday, October 22, 2012 at 17:27
Bogsdollox at 17.04
Hearts are the only club that has been punished ,anything that another club is going through is the result consequences.
————————————————————————————————
I believe Spartans and Dunfermline received draconian punishments for heinous crimes against Scottish Football.
Useful benchmarks methinks.
I would ask where did that list come from?
A quick scan throws up some odd finds….Norne Anstalt for instance looks like a shell company based in Lichteinstein..
Gorbold..the only find I come up with on that is a struck off company in New Zealand..
Elias Kaiser?…shurley cannot be the photgrapher in Switzerland…
There is a feeling that list was deliberatly made available for a patsy to provide to the masses….or am I on a wild thought process?
Anyone else come up with a reason for this list to appear?
According to the wee white brick man Our man Jack of Media House was out in the Turks and Caicos Islands for a few days before heading off to Dubai.
Paulmac2
I am assuredly not a patsy – I am a Paul!
🙂
As for the source….
It was….aaarrghhh
Thump…..
Silence…..
When will any details of the fttt be made available to see days weeks or months
Paul McConville says:
Monday, October 22, 2012 at 21:26
1 0 i Rate This
Paulmac2
I am assuredly not a patsy – I am a Paul!
As for the source….
It was….aaarrghhh
Thump…..
Silence…..
~~~~~~~~~~~~~~~~~~~~~~~~~~~
🙂 I am sure Paul…I am just a bit cynical in my mature years…I would like to see Charlie vouch for this list..as some in it seem odd…
Still I’m sure the blood hounds will be all over this list as we speak…
Interesting time to come out with the “death threats” story. Wonder what Mr Charles’ motivation was ? Surely he’s not wanting to remind someone, who is currently making a nuisance of himself, of what happens when you mess with Berrs.
Sitting in a hotel in Barcelona waiting for my son who is fogbound in London, he may not make the game if weather forecast is anything to go by, spent a fortune to meet him here, it was my birthday gift to him, (ot I know, but indulge me) I posted on RTC about flying of Saltires at Celtic games & got many thumbs up, will I see any at the Camp Nuo tomorrow? methinks not (unfortunately)
I had hoped it wouldn’t come to this, but its apparent now that there is a complicated plot afoot here. So convoluted in fact that I must now call upon my colleagues….the Thompson Twins and Monsiour Tintin…to help make sense of it all and bring the villains to justice.
liveinhop says:
Monday, October 22, 2012 at 21:29
When will any details of the fttt be made available to see days weeks or months
======================
From the Ministry of Justice website:
“When dealing with a matter before the First-tier Tribunal (Tax), we will;
send decisions to public subscribers (individuals, or organisations, who are not directly associated with the appeal and have requested a copy of the decision) within 10 working days of informing the parties of the outcome of the appeal”
So if the parties were notified on Friday 19 October (which seems pretty certain), the decision will be published by Friday 2 November at the latest.
john clarke says:
Monday, October 22, 2012 at 20:50
Thanks john, having had the pleasure of reading many of your well-crafted contributions to this blog, I take that as a real compliment.
HP
goosygoosy says:
Monday, October 22, 2012 at 20:44
=============================
Thanks, back to Craig Whyte having two hats. Makes sense.
The owner, who could put the club into administration. The “creditor” who could send a receiver in. If the receiver was sent in then he worked for the benefit of the creditor who sent him in. To get them their money.
Where did it all go wrong Craig, was it when HMRC forced you to the Court of Session and you ended up with Administrators, that day.
Oh dear, never mind.
goosygoosy says:
Monday, October 22, 2012 at 20:59
StevieBC says:
Monday, October 22, 2012 at 20:55
torrejohnbhoy says:
Monday, October 22, 2012 at 20:43
http://scotslawthoughts.wordpress.com/2012/10/22/the-rangers-shareholder-list/
==============================
…
Don’t think that was the smartest decision by McCoist…
,,,,,,,,,,,,,,,,,,,,,
Not so sure about that………
What if Ally is getting 1m freebie shares instead of win bonuses?
That would make it a really good deal
==============================
I am assuming his shares are freebies, promised when McCoist encouraged the ST sales ?
But I am thinking that as an original shareholder, McCoist will be seen as fully aligned to Green and his plans.
So, if the plans go awry, then it might only be McCoist left to face the not so friendly bears.
He might have been better sticking to a cash bonus, which could give him some wriggle room later ?
torrejohnbhoy says:
Monday, October 22, 2012 at 20:48
Celtic Underground @celticrumours
“@Scottish_FA: In relation to 2011/12, at time licence was granted tax bill was not overdue.” <- this is factually incorrect is it not?
============================
I believe that if a tax matter is under appeal then for the purposes of European licences it is treated as not overdue. The question is, was the small tax case under appeal at the relevant time.
I have zero ability to check out the spiv list, so while I was waiting for someone to destroy the ones on it, I googled Mr Thump Silence because I can, I’m childish, a bit thick and have a weird chain of thought. Tinternet is actually magic for paranoid conspiracy theorists bye the way.
Thank you neepheid much appreciated
EasyJambo says:
Monday, October 22, 2012 at 16:45
An odd couple of tweets from the SFA out of the blue
Scottish FA@Scottish_FA
1/2 To clarify, no licence was granted in April as club didn’t meet criteria for 2012/13.
Scottish FA@Scottish_FA
2/2 New company will have to provide 3 years audited accounts for club to be eligible for future UEFA competitions
I don’t know what these were in response to.
———————–
EJ, I think the SFA tweets were in reponse to
@unwittinglymine
@HenryClarson
What if McCoist got taxed on the benefit in kind (40% plus, experts may like to advise)? And then found himself in possession of 1M penny shares? Just asking.
I’m Curious, If CG received death threats, and he says he did, were they reported at the time to the Police? If not why not? If he did report them, are they currently under investigation?
We all know they are capable of and willing to act upon such threats.
I don’t know about the rest of yez but if I was getting death threats from a crowd that I was trying to help through the goodness of my heart, I would hardly be singing their praises shortly afterwards, in fact, I might just be only too happy to get one over on them.
I’m content to wait patiently for things to unfold. My interest is to see justice done and I believe it will be but I live in the North of Ireland and I understand that there are people out there who view what is going on not in rational terms of right and wrong but in terms of them and us.
Their perspective is Nihilistic and ultimately they care little for their own image or the future of their “team” in a real sense. They see only the here and now, they are suspicious, distrustful and fearful of betrayal.
“Following” is the order of the day although leadership is completely absent.
Is there nobody in their “ranks” as they would phrase it, capable of helping them?
Paul?
Paul?
Oh sh*t………………
Charles Green
Clubs were motivated by bogitry – a few hours later – no they weren’t, well not the kind of bogitry I was thinking about.
The judicial panel cannot be fair – a few hours later – yes they can, I wasn’t questioning their integrity.
I got death threats – a few hours later – Rangers fans are the best in the world and I mean that from my heart.
Craig Whyte did not introduce me to Duff and Duffer – a few hours later – Well, in a funny sort of way, he did actually.
Green might not be able to make a ewe turn but he certainly makes my eyes water.
Please feel free to add to the list, it would be nice to see all the porkies clumped together to make it easier for the MSM to see the pattern and copy them out in the papers. Ahmmm.
doontheslope says:
Monday, October 22, 2012 at 22:36
2 0 Rate This
What you are looking at here is what we, in Ireland, call a Gombeen politician.
Definition:
“A Gombeen man is a pejorative Hiberno-English term used in Ireland for a shady, small-time “wheeler-dealer” or businessman who is always looking to make a quick profit, often at someone else’s expense or through the acceptance of bribes. Its origin is the Irish word “gaimbín”, meaning monetary interest.[1] The term referred originally to a money-lender and became associated with those shopkeepers and merchants who exploited the starving during the Irish Famine by selling much-needed food and goods on credit at ruinous interest rates.”
A list is a good idea!
Surprise surprise,BBC Head staff involved in a cover up of questionable proportions of indefensible people and now found out and will have to face question time,anyone want to add to the list.
I`m wondering if Our Hero`s recent verbal diarrhea is down to some legal advice that D&P might get away with the COI ?
This could have tempted him to turn up the PR heat on Lord Hodge and BDO
How might Craigie the Spiv think D&P could get away with COI?
Perhaps by D&P New York arguing that they adopted an “honest man” strategy in late 2011 when they discovered naughty behaviour by Grier after the MCR acquisition.
So they decided to go along with Our Hero with the aim of being appointed to the role of Administrators, acting as a policeman and thereby frustrating the scam
This presupposes of course that D&P tipped off Hector in early Feb that the upcoming notice of Administration announced on Feb 13 was simply a time wasting ploy by CW to deceive HMRC before launching straight into a full blooded Administration Receivership a few days later
i.e. HMRC would be encouraged by D&P to immediately apply for administration with their own choice of Administrator on Feb 14
It might explain why HMRC did not challenge the legitimacy of D&P as Administrators knowing fine well that Greir had acted for RFC and CW in HMRC discussions during 2011 and therefore a COI existed in Feb 2012
,,,,,,,,,,,,,,,,,,,,,,,,,,
If the above is correct then D&P will be arguing that the interests of “justice” by thwarting a scam took precedent over their COI and their duty to minimise fees and maximise the size of the Creditors pot
I still reckon however that D&P are toast and Whyte is simply adding belt and braces to an overwhelming case of COI
This is because the correct agency for D&P to involve would not have been Hector but the Bill and therefore they really didn`t have the freedom to act unilaterally
Andrew Woods says:
Monday, October 22, 2012 at 21:43
Interesting time to come out with the “death threats” story. Wonder what Mr Charles’ motivation was ?
——
To tell the truth, I think – due to his furious backtracking today – that the Sun picked up the most sensational aspect of the story and blew it right up. I don’t think Mr Charles intended that to be the focus of the piece.
Journalists do that – particularly tabloid journalists – to sell papers.
I am involved in a situation which was covered nationally in the papers at the weekend and found the coverage to be kind of interesting. Most printed a press release almost verbatim. Only the Daily Express added a bit that they entirely made up themselves. Some chose to highlight only one side of the story, deleting the part of the release that balanced it.
The Sun and Daily Ranger removed big words, and focussed on the most sensational part, enlarging it to the exclusion of just about everything else.
Alternatively, of course, Mr Charles could be even cleverer. He might have deliberately placed the death threats story just so he could make a statement reassuring the bears how he’s forgiven the naughty ones, and how much he loves them all. They need reassurance as to how important they are in all this in order to divert funds from their bairns’ Xmas box and into his hipper.
Or, that could be nothing but nebulous guesswork on my part.
I wonder if the hope of all of those involved, is to push the whole fiasco so far down the road, that nobody will have the will to untangle the web that they have created
If BDO manage to untangle it, they may well think, that it will be to late to do anything meaningful about it anyway
campsiejoe says:
Monday, October 22, 2012 at 23:01
I wonder if the hope of all of those involved, is to push the whole fiasco so far down the road, that nobody will have the will to untangle the web that they have created
If BDO manage to untangle it, they may well think, that it will be to late to do anything meaningful about it anyway
=========================
I doubt that Joe, a company like BDO can work on things like this for years if that’s what it takes.
campsiejoe says:
Monday, October 22, 2012 at 23:01
BDO, Webs, thats what they do, untangle them.
Gents, I hope you are right, but given all that has happened to date, I have that small niggling doubt
On the plus side, maybe they didn’t anticipate BDO
campsiejoe says:
Monday, October 22, 2012 at 23:12
0 0 Rate This
I share your doubts but……
On the plus side, that’s what we’re here for, to keep them honest. TU if you agree?
campsiejoe says:
Monday, October 22, 2012 at 23:12
Gents, I hope you are right, but given all that has happened to date, I have that small niggling doubt
On the plus side, maybe they didn’t anticipate BDO
===============================
Once again, let’s have a wee look at Mr Cohen’s speciality.
http://www.bdo.uk.com/find-a-partner/malcolm-cohen
Malcolm is a Licensed Insolvency Practitioner with thirty years business restructuring and insolvency experience. Malcolm has extensive knowledge across a range of sectors including professional services, financial services, property , shipping and not for profit. Malcolm leads the firms’ Contentious Insolvency Team, this team is dedicated to recovering assets through litigation, cross border investigations and uncovering fraud.
That is why HMRC chose him in particular.
bangordub says:
Monday, October 22, 2012 at 23:08
1 0 Rate This
campsiejoe says:
Monday, October 22, 2012 at 23:01
BDO, Webs, thats what they do, untangle them.
=======================================
i am sure the internet bampots will not be slow in emailing Mr Cohen lots of interesting titbits to help him on his job of untangling the webs on this liquidation!
😉
Not The Huddle Malcontent says:
Monday, October 22, 2012 at 23:28
=====================================
He can be emailed via the link I provided earlier.
I think it’s natural to have niggling doubts over the outcome of TRFC’s appeal, but considering what HMRC have riding on this I am sure that they have done everything they need to and examined every word of their case in microscopic and forensic detail. We all know that this is a test case for Hector and it was an ideal case for them to use as its focused on a reasonably sized club who were responsible for a monumental breach of the rules that is NOT based in England or play in the EPL. I understand that no one can assume anything in this case, but I am positive that HMRC will come down on not only odlco, but everyone that was involved with administering the EBT scheme run by DM. DM did not run this scheme on his own and I believe that HMRC will come down heavily on every individual who so much as touched anything to do with the scheme. HMRC want to send a message to the EPL and all the clubs that may have broken the rules: We are coming to get you and we are serious.
They won’t just go after the people like DM that implemented the scheme, they’ll also go after the ones who knew nothing about the scheme, but should have or looked the other way whilst it was in operation. This will include the High Heid Yins at the SFA, both past and present. I was only following orders was not an acceptable defence in the past and it won’t be acceptable in the present. I sincerely believe that certain individuals may be looking at serious criminal charges on the grounds of conspiring to defraud HMRC and therefore a substantial period at one of Lizzie’s Big Hooses. In this instance, the doors of the Big Hoose will most certainly be bolted shut.
HMRC are effectively putting the frighteners on EPL clubs and see TRFC as small fry, effectively target practice.
Some folks involved in the Scottish game may have to take a crash course in Ducking.
If Mc Coist was granted 4.5% of shares it will add an additional humorous twist to the saga.
This will be treated as benefit in kind and will be taxed – if declared. If not declared, fines will follow follow. At the end of the day he may well end up paying substantial fines on useless shares! but wait, did not Charles value the company at ‘on a good day at fifty million’ 4.5% = circa 2 million smackers. Please please don’t let it end. .
Someone needs to tell Sally and the Bears that the word “Gullible” isn’t in the Dictionary.
Senior says:
Tuesday, October 23, 2012 at 00:09
2 0 Rate This
If Mc Coist was granted 4.5% of shares it will add an additional humorous twist to the saga.
This will be treated as benefit in kind and will be taxed – if declared. If not declared, fines will follow follow. At the end of the day he may well end up paying substantial fines on useless shares! but wait, did not Charles value the company at ‘on a good day at fifty million’ 4.5% = circa 2 million smackers. Please please don’t let it end. .
———————————————————————————————————
Maybe he has some clever tax avoidance scheme. Something like an EBT perhaps.
‘Maybe he has some clever tax avoidance scheme. Something like an EBT perhaps’.
Touché abcott,
What are these EBT things I demand to know.
campsiejoe says:
Monday, October 22, 2012 at 23:01
‘I wonder if the hope of all of those involved, is to push the whole fiasco so far down the road, that nobody will have the will to untangle the web that they have created..’
—-
Remember, that baddies, because they know themselves, know that other baddies are baddies and not to be trusted.
So, there will nearly always be a nice wee self-protective bit of evidence.
Not everything will have been shredded.
Everybody that BDO questions ( with the authority of the Court behind them) will have enough to say to protect himself that will allow BDO to track the whole course of events, from the dodgy ‘sale’ of the club to the ‘dodgy’ deal with CG.
It is not entirely fantastical that at a certain point, the passports of certain people ( including personnel of Lloyds) may be impounded pending criminal investigations.
( I’ve just finished reading William Boyd’s -real Ayrshire name there!- latest novel ‘ Waiting for Sunrise’ . A great spy/ double- dealing story. The baddies always give themselves away!)
Well, it might be a tad fantastical.
But if I had been in any way involved as a director of the dead club, or adviser to D&P, or an administrator, or associate of CG, or possibly compromised officer of the SFA, I would be just a wee bit apprehensive.