Consequences and preparations

As well as losing a promising young player for no fee the Sevco High Command have rather been busy this week.

The elevation of Mr Douglas Park to being at the right hand of the esteemed chairman could be seen as a preparatory move.

I am advised that it could be in preparation for a decisive move by the chaps at the Takeover Panel.

The judgements by the Court of Session was finally published today.

It can be read here:

Court of Session Takeover panel Dave King February 2018

I’m also told that the meeting with the Metro bank (which they urgently sought) and the Sevco High Command has already taken place.

The sit down was earlier this week.

I’m informed that the banking folk stated quite clearly that if any sanction emanated from the Takeover Panel case then they would abide by it to the letter.

The Sevco High Command were in conclave this afternoon and two things were on the agenda:

Dave’s Takeover Panel troubles.

Contributions from Club 1872.

 

26 thoughts on “Consequences and preparations”

  1. Dembele’s hold up and link up play has been different class.

    Scott Brown……pipe and slippers comes to mind

    HH

  2. So wee Barry the bigot at it again having his say in the daily rectum. Oh the Bennys &Sams there is just no telling them anything the thickos just don’t get it .This EBT bankrupt village idiot is now saying you need luck to win a celtic /rangers game . Oh dear someone should tell this nugget we are going for 10 games undefeated against the Klan that’s some run of luck Barry. This bawbag is still shouting that the huns where the better team in the last game as well .I can see this tool hanging about with Itchy Sack from the Evening Shark Jump and that other thicko Gary Ralston.

  3. Am I wrong in thinking that this Opinion of the Court not only concludes that His Glibness not only has to make the offer as ordered by the ToP but it also settles another of his claims. Section 18 of the Opinion states, “The reclaimer had held shares in the old Rangers club before it went into administration in 2012….” It doesn’t say anything about shares in a holding company. I am not familiar with the law but this appears to be telling me that in the eyes of the law, the old Rangers club was administered and, eventually, liquidated. How does this sit with the views of the SFA et al?

  4. From the Judgement “The reclaimer had held shares in the old Rangers club before it went into administration in 2012”
    There must be some mistake, surely the court means the holding company went into administration? The People really need to know the names of these judges

  5. There was a petition at the Court of Session on Tuesday regarding the TOP and King but I can’t find anything about the outcome. Anyone any idea?

  6. Gary Ralston and Chris itchy Sack the only 2 journalists in Scotland to tip a hun win .You need to laugh at these clowns they are both going for their own record of predictions where it will be 10 in a row they have got wrong trying to shout on the bigots oh how we laugh at them .

  7. The biggest part is in the last paragraph.

    ” Such an offer is to be made PRIOR to a date 30 days after the date of the interlocutor to which this opinion relates.

    Therefore he was in contempt of court some time ago and must now face imprisonment. No other options are available.

  8. So the glib and shameless liar has taken a step nearer to doing a disappearing act.
    I’m sure there will be much researched weighty tome printed by the SMSM which we can peruse at length as they’re aware that the goings-on down Govan way might be in the public interest. Or not.
    The jokes keep coming from Fantasia erm sorry Ibrox and Mr David Cunningham King is the punchline. HH

  9. Robertson and the blue facing Richard Wilson were united in their claims that it was King’s problem and would have no impact on the club.
    No doubt as to the source of their remarkably similar statements.
    Without access to normal day to day banking facilities the ST process could be thrown into chaos.
    However there will be a fall back plan if Metro Bank walk away, surely?

  10. The reclaimer had held shares in the old Rangers club before it went into administration in 2012. Think that legalese is plain enough for the deniers?😀

  11. I see stalling, and stalling, ducking and diving. Loved the “wink and nods” all thay was missing was the raised left trouser leg and then dab pose.

    It’s clear he’s hanging on for Europe in some forlorn hope of a reprieve when he’ll come out with a “see see see ah telt yi….” kind of statement to the dedicated or should that be desiccated?

    I hate to say this…we should lie down to hibs next week and hope they turn over Budges crew…hammer them at home for the 7 after tomorrow’s semi.

    Nail and coffin Anyone?

  12. Just watched “INVICTUS” for the first time. Its incredible how sport can bring people together…. Roll on Sunday for our very own brand of hypocrisy.

    Prophecy for Sunday. Green Guys more blue guys less.

    COYBIG

  13. Reading the judgement I note that the Court allowed King to make the offer instead of NOAL. But that isn’t what has happened since.

    King has substiute Laird for himself, yet another cloak and dagger Family Trust/Company set up, and communicated that they will be making an offer. Which is not in accordance with the CoS ruling.

    Is it the case that King needs to be seen to source the funds from SA and in some way obtain approval from the Reserve Bank of South Africa to use the Laird money to make the offer.

    Because were he to use NOAL (British Virgin Islands) or the Glencoe Investment Trust (Guernsey) it would reveal something about what he said to the SA tax authorities when reaching his tax settlement with them?

  14. Just read Master Murty’s comments.

    To be clear, Hamburg will be competing in the 2nd division in Germany next season. Their finances are not on par with Bayern Munich, Dortmund, or other ‘big’ European clubs.

    Apparently Bates’ wage demands were ‘excessive’ according to Murty, and ‘wasn’t something we could or were prepared to pay’.

    There you have it folks: Sevco’s resources being eclipsed by clubs in the 2nd division of a league without a major TV deal.

    Less than 100 days for the basket of assets to find a suitable replacement to qualify and Progrès in Europe.

  15. Great work today, Phil. Chapeau!

    Is Park not also involved with Hamilton? If so, how can SFA allow him to be Depute Chairman.

    Not sure how this can be preparing for post TOP action. Only 2 scenarios; King does make the share offer in which case he becomes the biggest fish in the goldfish pond OR he bails out and makes a runner to South of Limpopo.

    In either case, Park isn’t going to have much to do. In scenario 1, King will do as a GASL would normally do. Under scenario 2, the freeze is going to kick in from TOP in which case that newco club will become a Norwegian Blue!

  16. For an event that is “no biggie”, “won’t effect the club”, “will have little or no impact on day to day affairs.”it appears that the reality of the TOP situation is starting to dawn. One senior figure at the dome of debt claimed, in a most Churchhillian manner after the defeat of Celtic in the corresponding fixture two years ago, that they had reached the end of the beginning. Well personally, I think they have now reached the beginning of the end and I fully expect things to start accelerating in the coming months.
    They presently have debts in the region of £21+m. Much of the debt may be in soft loans, but all that means is they are
    not being charged interest on that part of the debt. It is still debt and the lenders will, at some future point want their cash back. If, as expected, their end of year accounts show a loss similar to, or worse than last year, they will be sitting in a position that they simply cannot trade their way out of.

  17. Three terrific posts today Phil . The lad Bates was clearly looking after himself , the clusterfuck can’t afford the wages and even if he doesn’t get a game he’ll still earn a good wage playing on loan somewhere . Clearly the impecunious kid is heading south of the Limpopo for a while and after all the money Douglas Park has put in he is clearly looking out for his own investment without his glibness looking over his shoulder . Can’t believe some of the shite on there forums , the zombies clearly believe that King and Park have saved the club from extinction . Keep up the good work amigo 🍀🍀🍀🍀🍀 COYBIG

  18. As my wee Granny used to say, ‘Never trust a man with a Surname as a Christian name”.

    What kind of name is Drummond, anyway ?

  19. More prevarication. Another 30days. King still has them at arm’s length.
    Then it will be another 30 days. Talk about impotence?
    There is more to the concert party than the concert party.
    No chance of them getting the better of King as far as I can see.

  20. Great piece (as always) Phil and you have my vote for the blogging awards…

    my understanding is that Glibby has passed the date that the offer for shares had to be made and all he has done is announced that he will make an offer sometime…. do you know what date a Cold Shoulder will take effect.?

    1. Many thanks.
      That’s appreciated.
      I don’t know the answer to your question.
      However, I spoke to an Edinburgh based QC today and he said that the time had elapsed on the CoS judgement.

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