The benefit of gallows humour at Sevco

It was useful to catch up with several sources today.

One of them had a little surprise for me.

In the course of his business last Tuesday (13th November 2018) he found himself in Manchester airport.

He said he was “close to one hundred per cent certain” that he was sitting beside Mr Stewart Robertson of Sevco.

I asked him if he looked seriously professional.

Well, my guy did say that he had a “Rangers” desk diary with him!

If it was him then he appeared to be in the queue to take a flight for Southampton.

My source told me that the south coast city was home to many distressed lenders.

I cannot confirm the veracity of his observation.

However, I’m sure that the intrepid chaps on the sports desks in Glasgow will run this one down.

After all, they are relentless in unearthing stories at Ibrox.

What I DO know from other well-placed sources is that the Conveyancing Consigliere and the Serious Professional have been tasked with finding external finance for Sevco as a matter of urgency.

It is probably entirely coincidental that the sum they are looking for is exactly what NOAL had promised in the recently published RIFC yearend accounts.

I was surprised to learn that senior functionaries within the Sevco High Command learned of Dave’s most recent courtroom setback via the media.

Therefore, when the bill arrived last week from Mr King’s legal team it could not have been entirely unexpected.

I think it is very decent of Sevco to be picking up the tab for this protracted legal wrangle.

My information is that this is an interim bill.

The final bad news will be along in the fullness of billable time.

When I asked my guy what he thought the entire legal tab would be he lumped in both the dispute with Ashley and the Takeover Panel together.

He did not see the bad news being any less than £2m.

Of course, Dave will not be picking that up.

Meanwhile, General Ashley is playing a long game with his legal dispute on the retail deal.

He is fully aware of these developments that would appear, prima facie, to get Sevco into some serious soapy bubble at court.

It would appear that both Big Mike and the Takeover Panel are willing to let Dave build his gallows high.

Discover Phil’s dramatic play Rebellion