My big pal, the late Paul McConville, would have loved this story.
I can almost hear him laughing down the phone as he explains the legal facts of this shitshow to me.
Taken too early from us, my learned blogging buddy explained to me at the time that one day the wheels of justice would grind out a result on this one.
As with most things legal, he was bang on the money.
However, even to this legal ingenu, l realised that administrators trying to sign a player was a bit dodgy.
Although it all happened to the original Rangers, the financial penalty of £3.4 million on Duff and Phelps, the sum they must pay to liquidators BDO, will send a chill through the financial world.
Rugger Guy told me that the Square Mile fraternity had been eagerly awaiting this verdict, and they believed that Duff & Phelps would not appeal it.
He also said that it might have a chastening effect on the current auditors of Rangers International Football Club (RIFC), the parent company of new Rangers.
I’m told that there have been some tense exchanges recently between the Sevco High Command and those tasked with auditing RIFC’s year-end accounts.
My understanding is that the points of contention include how some borrowings and liabilities are to be presented.
It’s at times like this I would be calling my big mate Paul.
For the auditors, there should be two red flags in the last accounting year.
Firstly, the fact that Close Brothers decided to demand payment EARLY.
Secondly, a share issue was required to bring in a relatively modest five-figure sum to pay a utility bill.
Perhaps the difficult conversations between the Blue Room and the auditors have something to do with how UEFA will view these accounts.
Well, someone has to; Fair Play to them.
However, that’s merely speculation on my part.
It has been pointed out to me that the facts contained in the recent share prospectus may have had some influence on Close Brother deciding to ask for their loan back.
Of course, Ibrox wasn’t sold in 2012, and it remains a safe space for anti-Irish racism in 21st century Scotland.
It would appear that the football authorities and those nice folk as Show Racism the Red Card are seemingly powerless to do anything about it.
Discover more from Phil Mac Giolla Bháin
Subscribe to get the latest posts sent to your email.
I’m sure the SFA will be able to confirm that only a club meeting Financial Fair Play criteria will be eligible to play in Europe.
https://find-and-update.company-information.service.gov.uk/company/SC004276
Is RFC 2012 P.L.C. the only football club* in the World named after the year they were liquidated ?
Em look at history on the rangers football club and rfc 2012 on their site, also company house number, pretty sure when i arrive at vegas i will let them all know i am Elvis
Excellent BigTopHat 84 what everyone feels & never change they are getting worse ,Ps the Scottish press will back them up 🍀
A sorry tale of administrators and auditors,
a sorry tale of a corrupt and/or incompetent Scottish judicial system and its admitted, malicious prosecutions,
a sorry tale of a corrupt and/or incompetent Police Scotland and their raids/detention/treatment of business professionals just doing their jobs,
a sorry tale of a thoroughly [alleged] corrupt and incompetent SFA & SPFL.
The common denominator in all of these sorry tales is of course, the Ibrox club.
A “permanent embarrassment” of a club indeed – and a constant blight on the image of Scottish football.
Makes you wonder just where we would be today if no Ibrox successor club was forced into the bottom league by the governance bodies…? 🙁
10 in a row a quintuple treble and Peter Lawwell on another £3.5m wage no doubt
Yeah if only ! I would gladly have seen him get the cash, if only we were able to have the trophies mentioned.Alas it was not to be for various reasons which to myself are totally unforgivable.
Dear National, please do not resort to lazy SMSM Churnalism when commenting of the National disgrace that is Rangers & The Rangers International Football Club.
1) Rangers Football Club did not continue to play at Ibrox after Administration. Rangers Football Club did not survive Administration and the Club was liquidated in 2012. ( There was no Club/Company persona to the Organisation. During its entire history it was an Incorporated Club. No separation, no division. When liquidated all aspects of it entirety ceased to be).
2) Rangers Football Club were neither demoted to nor placed in the Third Division. As a new Club, Sevco Scotland ltd 5088, had to apply to the Scottish Football Association for membership. Like all new clubs admitted to the Professional League Structure they started off in the lowest division.
Their membership was initially on a provisional basis and they were given an Associate Membership. The new club did not inherit the membership number of the liquidated club. That Membership number was given to Dundee Fc as a newly promoted member of the Scottish Professional League (SPL), as the current .Scottish Professional Football League (SPFL) was previously known. The new club was allocated a new membership number.
3) As Rangers Football Club were liquidated their membership number at Company’s House was closed off and Sevco Scotland Ltd 5088 was allocated a completely separate Company number on the register of Businesses. Sevco then effected a change of name to the business and became The Rangers International Football Club.
Despite the wishes and connivance of the SMSM and the present incumbents of Ibrox, facts are facts and doubly so when they are set in the Law of the land.
The Survival Myth was an affront to Law and is responsible for the disgusting anti social behaviour witnessed in George’s Square over the Summer months. Uber Brit Triumphalism at it’s worst and a reminder to Civic Scotland that the Club and it’s fans, and no it’s not a minority, have no place in a multicultural Scotland. Britishness is the antithesis of multiculturalism as is relies on the perceived sense of entitlement and superiority of the occupying force.
The failure by Civic Scotland to challenge the Survival Myth and the BritNat Racists within the Ibrox structure and support has made a rod for our own backs and will be a considerable obstacle on the road to Independence .
That is why it is necessary to constantly correct the false narrative.
Why should Civic Scotland and it’s peoples be forced to accept a narrative that is wrong and harmful to society at large, purely to accommodate a section of society that has no respect for the Society.
For decades, Civic Scotland, it’s Institutions, its leaders have all been silent on the excesses of the Club(s) at Ibrox and the extreme element of its support. Like a child that is excluded from chastisement It emboldened them, reinforcing their ‘WATP’ mindset. We did not challenge them because we feared them. What type of Society are we that habitually turns our face away from confronting this issue. Is it the fear of the extremists themselves or is it the fear that we can’t count on the loyalty and commitment of some of our leaders, elected officials, our Courts and our Constabulary?
We better address this issue fast. This side of Indyref2 matters will only get worse.
Excellent article and a truthful response from bigtophat to the National. We live in hope that civic Scotland wakes up before real trouble begins with the klan.
Excellent response from BigTopHat.
Superb summary.
Sir or Madam… ( ladies wear top hats too ) ….this post is to be highly commended.
You have spelled out, in clear and concise narrative, the death of one Club…and the birth of another.
Thus destroying the ” same club ” theme that is being unchallenged… where it matters.
You go on to correctly draw our attention to the potential “futuristic” problems coming our way…if this myth isn’t destroyed once and for all.
Once again…well done.
Dundee did not inherite dead Rangers SFA membership, They were handed dead Rangers SPL share to give them a place in the top flight.
This occured after Sevco played Brechin in the Ramsden cup and that game was played before Sevco changed its name to the THE Rangers FC
Sevco were granted a never heard of before conditional membership to allow the Brechin game to proceed.
The reason dead Rangers were allowed to hold onto its SPL share was to prevent a vacancy arising that a club like Spartans could have applied to fill. Any club with three years worth of accounts applying to join the league would have scuppered the 5 way agreement as the New club did not meet the criteria.
As far as I am aware SFA memberships are not numbered and carry no identification whatsoever.
Dundee had been a member of the SFA for a long time before Rangers died.
The entire farce was to avoid a vacancy.
RFC PLC held its SPL share the day Sevco played Brechin, SPL shareholding clubs could not play in the Ramsden cup, Sevco did as they had never played as much as a friendly before they played Brechin.
At the back of my brain a voice is telling me that RFC PLC had to loan players to Sevco to allow the Brechin game to take place.
Spot on Charlie
This was a response on the National story, as much as I’d like to take credit, I can’t, but agree with it 100%
A brilliant summing up of the facts. I’m curious. Do you have a legal background or are you simply someone who makes sure they get their facts right before putting pen to paper? If it’s the latter you put our media to shame.
Everything would appear to be fine and Dandy at Ayebrokes according to the Daily Beano and the other MSM Comics but I believe this years Annual Accounts will be a real Topper.
You have to fight the urge to feel a bit sorry for Oor William at times.
Ps Have The Broons found the deedsh yet Phil?
I will wate for my yearly edition of the broons, still company’s house actually hold the number and time applied for, now the lower the number the older the company is.. hi I’m Elvis ask my ask again.