The speed with which the Takeover Panel have moved against Mr David Cunningham King is highly significant.
Perhaps the South African based entrepreneur had thought they were not serious.
If he did think that then I would contend that he has seriously miscalculated.
Their statement of intent can be read here.
“…the Takeover Panel has today initiated proceedings in the Court of
Session, Edinburgh under section 955 of the Companies Act 2006 seeking an order
requiring Mr King to comply with these rulings.”
For the avoidance of doubt, I do not concur with the assessment of one young chap on the Beeb that the ruling of the Takeover Panel on Mr King was no biggie for Sevco.
It is the most serious event to have happened to Rangers International Football Club (RIFC) since it was formed in 2012.
Of course, in response, the stenographers will be acting like air traffic controllers for entire squadrons of these chaps in the coming days.
Beware the low flying squirrel squadron
Would being in dispute with a Financial Regulatory body not have an adverse effect on the issuing of a FFP licence for their glib and shameless assault on the Europa League next season?
Dave King has announced his intention to appeal against the TAB ruling, which most mortal men thought was ‘final’.
He has requested that he be allowed to address a full meeting of The Council of Elrond.
Phil,
I like the content you provide but I’m having a frustrating time trying to connect to your new site. Seems the site is slow, frequently down or I get an error message. I’m also finding the new website does not do a good job of automatically resizing when viewing from a mobile device. I must admit I found your old site much more reliable. Just my experience but wondering if others have similar feedback.
Phil , I think you are forgetting one thing….. They Are The People !!
Red or Grey squadrons old bean?
Squirrels are all very well to avoid doing journalism work on slow days at a declining regional rag, but when it comes to obsuring Death, Famine, War and Pestilence, the wee fellas are likely to scarper the first time their nuts get singed.
Phil – another 2 great articles
Question – from your extensive knowledge of the rules, does the Takeover Panel ruling etc have any impact on the application for a UEFA licence?
It’s about time somebody in authority said ‘enough is enough.’ It’s just a pity it wasn’t Celtic football club. The persistent cheating coupled it’s the assistance the dead club have received from the governors of our game is nothing short of disgraceful. Please let this be the moments where we witness annihilation for sevco. Not a moment too soon.
Is there any significance to the fact they’ve chosen an Edinburgh court rather than a London one, I worry about handshakes in Scotland
Really appreciate the information that you are puting out there in days gone past this and other articles would never have seen the light of day buried by the no compliance of selective members of the SPL committee to fulfil their duty to the whole of the scottish football.
Wonder how long King will have to comply, given that he’s already missed one deadline?
If King comes clean, no laughing at the back, and tells the court that he can’t find a Nomad who will work with him to launch a prospectus and share issue, what then?
Slap on the wrist and the concert party ordered to reduce their shareholding or will that not be deemed sufficient given that the Takeover Panel were lied to and the investigation was stretched out by King’s delaying tactics in the first place.
The FCA will take a dim view of this sort of behaviour as should any of the professions currently providing a service to the club/company/ethereal entity.
With ST renewals currently front and centre losing the Metro Bank facility would be a disaster if they also walked away.
Loving it Phil, the flying fellas inbound.