Meetings about Dave

The anti-King faction within the Sevco High Command seems to be getting their dignified ducks in a row.

I’m hearing from various sources that there have been several conclaves held apropos their chairman problem.

My information is that the Serious Professional and Alastair James Johnston recently met with Mr Stewart Regan.

I’m sure that it was an interesting meeting.

Then there was a Churchillian conclave with the chap from Campbell Dallas.

The members of the Sevco High Command in attendance wanted to know what proof the auditors had seen from NOAL to assure them before they signed off on the RIFC year-end accounts.

I understand that one of the Blue Room chaps said that the evidence provided “wouldn’t fill you with a great deal of confidence”.

I was surprised that some of the directors of RIFC had not, until recently, seen this proof of funds documentation.

Colour me naïve.

Of course, proof of funds is exactly what Mr King will have to show to the Court of Session in three weeks.

Developing crisis…

25 thoughts on “Meetings about Dave”

  1. Does GASL have to put the money in escrow prior to the #Sevco share offe–assuming he even makes one–so that he can’t make the offer, then “nyah nyah nyah” when it gets taken up?

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  2. “ Colour me naive.” What a title for a song Phil.
    The lyrics could be endless. The music by one of those monobrowed, knuckledragging lambeg bashing flute playing bands.
    It would be a love song of misplaced trust unrequited love and shafting in a gullybilly way.
    If only Carlsberg did songs!
    HH

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  3. I always click the links in your tweets when I see them despite the mystery factor. I often don’t know what the content will actually be but it’s worth it as it is always insightful and delivered in a writing style that is both informative and engaging.

    I am a copywriter* and my remit is often to attract and guide as many readers as possible on a specific route, be it down to the shop, to get on the phone or to click link on a webpage. The larger the audience the more my brand voice is heard. I am getting to my point …

    I alluded to that ‘mystery factor’ as a point worthy of note. Writers write to be heard and it’s frustrating when we spend time researching, musing, proofing and amending before pressing the ‘publish’ button only to be dismayed by the quantity of readers.

    You have a following who will always click a @Pmacgiollabhain link and rightly so. However, the lack of info or incitement to read further probably has many many more people simply scrolling on past the smooth-faced hookless tweet. It’s criminal, in my humble opinion. WordPress has a few plugins that will place the title and a small description of the tweet along with a featured image (if any exists) and they are free. I suspect using one would increase your readership and consequently your following.

    As you can see I am not touting for any kind of business. Just a nosey bastard trying to share valuable experience with a fellow traveller so feel free to ignore me. Though I’d be happy to volunteer my assistance if required but it’s a fairly simple 5 minute setup process. I’ll carry on reading your missives from the front.

    Cheers

    *I refuse to call myself a writer until I complete and publish my book

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  4. Without sufficient proof of funding, a company that is running at a loss is trading whilst insolvent; and that isn’t allowed. Accountants signing books off in these circumstances would need to see that proof, and, more than convincing or confidence inspiring, it would need to be bonafide. Hard to believe the accountants were ever relaxed about that or misled and, so, it follows that if there are question marks now then circumstances (i.e. the availibility of funds) must have changed.
    We can guess why a meeting with the footballing authorities would be in order, but since they have been shown to bend over backwards at every juncture for this entity, not to mention previous incarnations, and bend every rule in the FFP book, nothing will ever be confirmed or clarified. That said, it indicates that something serious is unfolding.
    When you put all the pieces together, the rush to sell players, the prospect of cashing in on the training grounds, AJ’s alleged injection of funds, meeting the SFA, the rising debts, the constant need for cash to make ends meet — and don’t forget the unknown unknowns — then we can see that the situation must be extremely grave.

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  5. Thanks again Phil for what u do ? , How much longer will Jabba survive ? Will he get a 0-0 v Sevco n they’ll both Die in Extra Time ??

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  6. Shares worth £0.27 can be bought for £0.20 ,if the seller decides to accept your offer.

    I’m not sure that Dodgy Dave is that concerned with having to make this offer.

    If he is .
    He’s fucked.

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    • Yeah , big mike would sell a profit making club to buy a club that will never show a profit. Once out of Newcastle that’s it as far as owning another football club for St Michael on Shirebrook.

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  7. I feel that you are wide of the mark Phil. You see, Rangers are a multi-million pound club-not my words, but those of a SSB contributer who sounded clearly well in the know- and that kind of clout can’t be overlooked or indeed underestimated. So piffling trifles such as adherence corporate law or any other kind of governance can find the servants ‘ quarters and queue up there and present their references as they do in any other civilised realm.
    It’s time to call your dogs off. Your relentless pursuit of Rangers is like Tommy Lee Jones chasing Hans Solo for a crime for which he was falsely committed.
    One of us needs to take a long look at yourself. In the meantime I will tend to my own house as Her Nibs is on her way back from her mother’s and I’ve let things slide a bit.

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  8. I suspect that there are two possible (overlapping) reasons for a meeting of this type.
    1) Removal of King as no longer fit and proper as a director.
    2) Impending financial disaster and a request for a bailout.

    Or, maybe, both!

    Rebus

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  9. Clearly sevconian Directors have learned from the SDM destruction of an old club, RFC, and decided to not just sit back this time and believe their chairman but look into things.

    Looking doesn’t help though. It needs millions upon millions to stay afloat.

    I’m guessing the questions to Regan were 1. If we go bust are we banned for 5 years as office bearers?
    2. If we show some kind of concern now that we’re holding King to account will it help our case after liquidation to be directors of Rangers III?

    I’m sure they feel really clever people with foresight and all that.

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  10. It’s reassuring, in these troubled times, to see that Sevco are currently “closing in” on a “seven-figure” deal for English Premier star Jamie Murphy.

    That will no doubt reassure any creditors that a mere £800,000 outstanding – for example – would be due for settlement in the twinkling of an eye.

    Just as soon as the hangovers from the New Year’s historic goalless-draw celebrations subside…

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  11. Phil; the question re the proof of NOAL funding was asked immediately after the accounts were released. That funding “guarantee” (from a known GASL) was in direct contrast with the testimony of King’s legal counsel in the Scottish High Court (TAB case) and should have raised a red flag to them. But then again, maybe the funding issue was cordially agreed to with a handshake?

    Has anyone contacted Campbell Dallas about this? If real concrete proof of funding from NOAL was not provided, then they had better hope that nothing happens with regard to an Insolvency event at RIFC. They would be wide open to having some major litigation coming their way.

    Reply

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