Two wrongs and a right

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Parnnoyed 6th January 2016 at 4:14 pm # The crooks, asset …

Comment on Two wrongs and a right by Bogs Dollox.

parnnoyed 6th January 2016 at 4:14 pm #
The crooks, asset strippers and assorted spivs are squabbling over the carcass. Court appearances could go on ad nauseum. Hell mend them. The switcheroo continues aided and abetted by the corrupt administration of our sport. All else is a sideshow. I could not give a toss about the spivs, save that justice prevails and the public purse is compensated.   It is patently obvious that the entire sham has been the vehicle by which the SFA have preserved the position of the offending club. ONE CLUB has been treated as immortal to the detriment of the rest of the members. This has been the sole object of the entire pantomime.  A new and impartial governing body must be the priority of the remaining clubs.  The time for action is upon us. All means should be considered, including resignation en masse. What are the chances of such a mass withdrawal with a view to forming our own “sustainable business model” clubs only association?
Excellent summary of the role of the SFA in all of this. They allowed this to happen on their watch with no thought given to the consequences for the whole of Scottish Football. They all need to go.

Bogs Dollox Also Commented

Two wrongs and a right

  • Ianagain . How do we know for sure the husband and wife team are the owners of a company awarded a £1M contract. Can somebody who has access to accounts post up the last three years for this company please.
  • Are you believing they didn’t see the half year accounts until today or do you know that for a fact? If I was counsel to the 802 I would have asked for time to have my accountant look at the numbers to see if they stood up.

I’m not suggesting anything is wrong. I’m merely asking the questions this site is normally good at.

Two wrongs and a right
Allyjambo 15th January 2016 at 5:12 pm #Homunculus 15th January 2016 at 4:40 pm

Where MA might have limitless funds available to fund a most rigorous investigation of what goes on at TRFC, not to mention have inside knowledge, not every litigant can afford any more than the most cursory of investigation by, or on behalf of, counsel. Counsel will only put forward an argument in accordance with the instructions given to them. They were conceivably caught off guard by this last minute production of the half year accounts (as acknowledged by the sherrif) and not in a position to mount a challenge. 
What has to be remembered, though, is that, at this stage, the money is stil owed, and must be noted as a contingent liability in the accounts until a decision is reached in court. This was no victory today, and, in fact, by acknowledging that there was a primie facie case for the claim, we might say it was a score draw and 802 have the advantage of an away goal!

The Sheriff acknowledged the late submission of the unaudited half year accounts. For half year accounts read prepared internally by TRFC staff – not previously renowned for their accuracy or forecasting.
I assume this is why the Sheriff allowed three days before his judgement to enable the WiFi supplier to have his people look at the numbers and make representations.
But my real question is this. Who really owns the WiFi company?

Two wrongs and a right
When the TRFC Directors state that they need £2.5m to get to the end of the season what assumptions have been made about player sales  and legal costs in calculating that number?

Recent Comments by Bogs Dollox

It Is Better To Offer No Excuse Than A Bad One
I’d estimate King’s exposure as between £2m-£4m.
I’d estimate it at 12 months in the pokey.

It Is Better To Offer No Excuse Than A Bad One
Cluster OneDecember 22, 2017 at 21:24
BOGS DOLLOXDECEMBER 22, 2017 at 21:00 There must be institutional investors who would grab the 20p because they need to make some sort of recovery on their initial investment.I bet there are a few individual investors who are a bit cheesed off with Dave. ————– Is there anyone left who may have 1p shares from the start? 19p profit right there
Didn’t the 1 pees later buy in for the same number of shares at a higher value thus making their average price paid much higher?

It’s a no brainer for the non emotionally involved at 20p.

It Is Better To Offer No Excuse Than A Bad One
HomunculusDecember 22, 2017 at 20:42
Just one thing that confuses me.
If people are claiming that the shares are currently trading at 27p, it’s a nonsense but just for the sake of the question.
Do they think that if they double the number of shares available then they will stay at the same price.
It’s a share in a business ffs, surely if there are more of them issued then each one is worth less (or worthless in this case).
So let’s say here’s the scenario. You have shares in a business worth say 14p each. The business is making losses, every year. It’s £16m in debt, and admitting it’s going to lose more this year, and next. Predictions are of the business being £23m in debt, at least. It’s also a toxic brand, operating in a field (pardon the pun) which traditionally does not make money.
Someone comes along and offers you 20p for your shares, no questions asked, no haggling, a straight 20p a share.
You knock this back … really. 
There must be institutional investors who would grab the 20p because they need to make some sort of recovery on their initial investment.
I bet there are a few individual investors who are a bit cheesed off with Dave.

It Is Better To Offer No Excuse Than A Bad One
essexbeancounterDecember 22, 2017 at 20:28
Bogs Dollox StevieBCDecember 22, 2017 at 18:29Guess that the CoS result could /should trigger a couple of events in the short-term;– King resigns from RIFC & – the auditors Campbell Dallas ‘do walking away’ ?You would think…?  +++++++++++++++++++++++++++++++++++++Their reputation is on the line. I would think ICAS practice regulation are keeping a close watch on this one._______________________________________________________ ICAS Practice Regulation only get upset when recalcitrant, (no, not “concomitant”) members, like me, fail to return meaningless checklists or forms in time. Please believe me…I have “got form” in this area…. Only when a serious complaint from “members of the public” is received, would any notice be taken…and minimum action result… Please remember, that ICAS members, at least 20 in number, have been involved in this whole RFC/MIH/TRFC/TRIFC omnishambles over the last 20 years or so….and….yup…a big fat zilch from the “public”… I rest my case….
Is it possible to complain anonymously? Or is it necessary to leave the country soon after complaining about “accounting concerns” ?

It Is Better To Offer No Excuse Than A Bad One
Cluster OneDecember 22, 2017 at 20:18
SANNOFFYMESSSOITIZZDECEMBER 22, 2017 at 18:42 2 0 Rate This ——————– Wow! they want the ex -city trader to be understanding about his severance claim. ————- Mr king has already stated this matter had been delt with.Or was this glib and shamless lier not telling the truth once again
This is like fending of HMRC in the days when 1872 was a club.

Back then the chat to the HMRC was “Look guys can you hold off for a bit from chasing the Wee Tax Case liability because new owners have taken over and we need some time to sort it all out – youse will get your doh!”
I recall the Daily Record often insisted Mark Warburton was a really smart guy.

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