The Rangers soap opera goes on and on.

[Armageddon]

http://www.philmacgiollabhain.ie/live-proceedings-and-dead-money/#more-6755

Haha he starts off giving it "I now can't report on this as there are live court proceedings" to then blethering on about them like a gossiping fish wife!!!

[adeb74]

10 - 12 weeks of operational money left before the begging bowls go out to Ashley again! Also hearing that should they clear Ashley's loan in the future, he will invoke his right to a seven year contract over future sales of all rangers merchandise including the renaming of ibrox.

[Cade]

Whyte and Green charged with fraud related to serious organised crime.

 

[Doc Rob]

I'm still raging over the way Ibrox and Murray Park were put out of the reach of the creditors. This looks like it may be karmic payback.

Edited September 3, 2015 by Doc Rob

[jambovambo]

Graham Spiers ?@GrahamSpiers 22 Oct 2012

For those in doubt: the SFA have legal contingencies in place if any substantial Charles Green/Craig Whyte link emerges at Rangers.

 

(note the date)

Edited September 3, 2015 by jambovambo

[Mikey1874]

http://www.philmacgiollabhain.ie/live-proceedings-and-dead-money/#more-6755

"self pitying lynch mob" is top quote, applying equally to most football fans of course including notably Celtic but is a fair comment here

 

Phil says he can't say anything about the proceedings due to restrictions as noted above by FootballFirst but puts up links to prove he was right

 

His point about this case, which could of course take a long time including appeals, messing with Rangers chances to raise finance is an interesting one

[I P Knightley]

Whyte and Green charged with fraud related to serious organised crime.

 

 

The only thing in the last 3-4 years that was in any way organised at that shambles of a set-up.

 

 

I've no idea what 'serious organised crime' actually means in Scots Law but I've only got images of Don Verde and Don Bianco taking care of business.

 

Is the end game one where the losers from 2012 (i.e. the creditors who got xp in the pound when it ought to have been yp) receive additional compensation? If a further liability is identified to those creditors (victims of a crime in setting up Sevco?), surely it falls on Sevco/RIFC to provide that compensation? Caveat Emptor and all that.

[I P Knightley]

Graham Spiers ?@GrahamSpiers 22 Oct 2012

For those in doubt: the SFA have legal contingencies in place if any substantial Charles Green/Craig Whyte link emerges at Rangers.

 

(note the date)

Meaning, "Doncaster's and Regan's arses are covered".?

[Boris]

Meaning, "Doncaster's and Regan's arses are covered".?

 

I suspect in letting Sevco continue.

[Mikey1874]

Whyte and Green charged with fraud related to serious organised crime.

 

who knows what some of the more recent laws pick up

 

spy laws have been used for minor things for example

 

I am no expert nor have any professional background here. But I keep an eye on news about corporate finance etc. Its been said often that the US is much more vigilant on corporate crime perhaps to protect its market system but also to ensure fair play so people are not put off investing. Maybe the UK is starting to catch up.

 

This will take its course but my feeling is this will be major and by far the biggest episode so far in the saga.

[Mikey1874]

I'm still raging over the way Ibrox and Murray Park were put out of the reach of the creditors. This looks like it may be karmic payback.

they also had money (?18m?) in the bank

[Tasavallan]

I am still surprised that Minty has not been implicated in all of these shenanigans.

 

What I would like to find out is how Whyte got away with the appointment of Duff & Duffer as Administrators, who duly in turn selected Charlie Green as the preferred bidder.

 

This story still has legs.

Edited September 3, 2015 by Tasavallan

[corryjambo]

I am still surprised that Minty has not been implicated in all of these shenanigans.

 

What I would like to find out is how Whyte got away with the appointment of Duff & Duffer as Administrators, who duly in turn selected Charlie Green as the preferred bidder.

 

This story still has legs.

 

Was there not a race to the High Court in Edinburgh to ensure that Craig Whyte was allowed to appoint Duff & Phelps ahead of HMRC who, if memory serves me well wanted their preferred administrator to be appointed.

 

Looks like the judge in the High Court may have backed the wrong side in allowing Duff & Phelps to be appointed.

[Hagar the Horrible]

I wonder if the shares of the newco were still trading, if they would even reach their 1p value? I would imagine now all the accused will be clambering to make deals with the Crown now they know the seriousness of the charges levied at them? being cautious of everything sub judice, for something of this nature the police and the Procurator Fiscals office must have more than enough to warrant a costly court case don't you think? not sure when the last time a case of a similar ilk took place? might do some research! It feels like the sixth block buster movie in a double trilogy is just been premiered?

[Walter Bishop]

[Hagar the Horrible]

I am still surprised that Minty has not been implicated in all of these shenanigans.

 

What I would like to find out is how Whyte got away with the appointment of Duff & Duffer as Administrators, who duly in turn selected Charlie Green as the preferred bidder.

 

This story still has legs.

I think he is totally in the clear? it was the bank that sold his stake for a ?1 and ?18m loan payback? The bank could not care less how Whyte funded the deal? Even though it looks like he even borrowed the ?1? Minty might have acted a wee tad immoral but did nothing illegal, apart from on going tax disputes, and breaching SFA rules on dual contracts? using the media to unsettle opposition players to get them on the cheap and weaken competition? Introducing succulent lamb on the menu, and the worst crime of all....brown brogues.

[Tasavallan]

Was there not a race to the High Court in Edinburgh to ensure that Craig Whyte was allowed to appoint Duff & Phelps ahead of HMRC who, if memory serves me well wanted their preferred administrator to be appointed.

 

Looks like the judge in the High Court may have backed the wrong side in allowing Duff & Phelps to be appointed.

Which is why I wonder why the High Court appointed who they did.

[Tasavallan]

Serious Organised Crime means crime involving two or more persons acting together for the principal purpose of committing or conspiring to commit a serious offence or a series of serious offences. 

 

 

[Clark Griswold]

Was there not a race to the High Court in Edinburgh to ensure that Craig Whyte was allowed to appoint Duff & Phelps ahead of HMRC who, if memory serves me well wanted their preferred administrator to be appointed.

 

Looks like the judge in the High Court may have backed the wrong side in allowing Duff & Phelps to be appointed.

Yup

 

http://www.express.co.uk/sport/football/302146/Rangers-appoint-administrators

[Seymour M Hersh]

I have to say that all this looks more like "Police Govan" trying to look good to the orcs rather than a genuine pursuit of Justice. The whole circus event they allowed to happen yesterday was totally embarrassing and should have been avoided at all costs. 

Edited September 3, 2015 by Seymour M Hersh

[davieholt]

I have to say that all this looks more like "Police Govan" trying to look good to the orcs rather than a genuine pursuit of Justice. The whole circus event they allowed to happen yesterday was totally embarrassing and should have been avoided at all costs. 

 

Dunno. The final outcome may not suit the orcs at all !

[Seymour M Hersh]

Dunno. The final outcome may not suit the orcs at all !

 

I doubt whether it will do any harm to the tribute lot.  Their pals at Hamden will see to that.

[BRAVEHEART1874]

No doubt chuckles will be feeling the true meaning of rangersitis when getting bundled into that car lmao they all lapped up his pish and defended green it doesn't matter really if green was whites frontman deep down they must have knew the probability was very high and now they are lapping up Kings pish sevco fans never learn but they are the victims because they didn't get there 10mill war chest how's kings dosh doing

[Strachsuit]

 

:rofl:  

 

That is absolutely hilarious! A lovely wee Christmas message that I'm sure the Orcs lapped up, all the while Chuckles is bleeding them dry for every last penny! They have been completely sewn up, lock, stock & barrel. 

[Hearts007]

Nice tie

[Armageddon]

So ... have the creditors interests been the top priority in all this?  That's what an Administrators role in all of it is or companies would just fold all the time and drop all debt.  This will be an outrageous mess to sort out.

[Tasavallan]

I think he is totally in the clear? it was the bank that sold his stake for a ?1 and ?18m loan payback? The bank could not care less how Whyte funded the deal? Even though it looks like he even borrowed the ?1? Minty might have acted a wee tad immoral but did nothing illegal, apart from on going tax disputes, and breaching SFA rules on dual contracts? using the media to unsettle opposition players to get them on the cheap and weaken competition? Introducing succulent lamb on the menu, and the worst crime of all....brown brogues.

 

All this from a guy who attended Broughton HS.

[Unknown user]

All this from a guy who attended Broughton HS.

And played for Dalkeith Rugby Club

[Cade]

Hopefully this results in HMRC seizing all assets of Sevco as proceeds of organised crime and selling them off to recoup their ?130million.

[Unknown user]

So ... have the creditors interests been the top priority in all this? That's what an Administrators role in all of it is or companies would just fold all the time and drop all debt. This will be an outrageous mess to sort out.

Key question indeed

 

For me it's clear that the liquidators were more interested in selling the assets as a package than getting maximum value for creditors.

 

They acted as if the only option open to them was to accept one of the offers on the table, but the land values alone meant that these offers were under valued.

 

Shenanigans

[williejamiesonlesftfoot]

So, whats the likely outcome in all of this? Can anything happen to the existing Rangers entity?

[altyjambo]

Don't forget that Duff & Phelps first action upon being appointed was to help the financially stricken company and it's creditors by sanctioning the purchase on a long contract of Daniel Cousin. If there wasn't a huge signal at that point that perhaps the creditors were far down the priority list, that was it....

[Benny Factor]

Don't forget that Duff & Phelps first action upon being appointed was to help the financially stricken company and it's creditors by sanctioning the purchase on a long contract of Daniel Cousin. If there wasn't a huge signal at that point that perhaps the creditors were far down the priority list, that was it....

Clark from D & P openly admitted that in an interview when asked about the creditors.... "they're not important right now" were his exact words.

[OmiyaHearts]

Clark from D & P openly admitted that in an interview when asked about the creditors.... "they're not important right now" were his exact words.

In my time working in insolvency the creditors were never a priority over the business. Saving the company was paramount and if that failed then we'd look after the interests of the creditors.

 

I'm pretty certain all IP's are the same.

[Riccarton3]

Weren't the authorities (football ones) not satisfied at one point that there was no connection between Whyte and Green?

[altyjambo]

In my time working in insolvency the creditors were never a priority over the business. Saving the company was paramount and if that failed then we'd look after the interests of the creditors.

 

I'm pretty certain all IP's are the same.

 

Yes, but saving the company was the best way to help the creditors. In your time working in insolvency, how often was the first action of a newly appointed IP to appoint an unnecessary expensive employee on a long term contract? 

[The Comedian]

I don't remember where I heard this but seemingly the only time Shooter looked in a panic was when it seemed he might not get to pick the administrators he wanted.

[Footballfirst]

A letter from BDO to creditors of the Oldco dated yesterday.

 

http://www.bdo.co.uk/__data/assets/pdf_file/0006/1354092/RFC-2012-Plc-update-to-creditors-02-09-15.pdf

 

 

4 Atlantic Quay
70 York Street
Glasgow
G2 8JX

Private & Confidential
2 September 2015
Our ref:
00181979
?

TO ALL KNOWN CREDITORS
Dear Sirs
RFC 2012 P.L.C. formerly The
Rangers Football Club P.L.C.
(In Liquidation)
(?the Company?)

Court of Session reference P1134/12

 

We refer to our report to creditors dated 12 June 2015, wherein it was advised that a first interim dividend would be paid by the end of July 2015. Due to the high volume of claims received in this matter and a number of complex claims requiring further scrutiny and, in certain instances, legal review, this has unfortunately been subject to a delay.

 

The adjudication process in respect of claims received was completed during July 2015 and it was our intention to pay an interim dividend of 7.5p in the ? to unsecured creditors by the end of August 2015.

 

In this regard, a Scheme of Division was agreed with the Liquidation Committee at the beginning of August
.
However, the Joint Liquidators have very recently been put on notice of a potential claim by legal advisors to Law Financial Limited (?LFL?).

LFL is a 100% owned subsidiary of Worthington Group Limited. The Joint Liquidators note that Craig Whyte is a former director of LFL.

 

LFL is claiming that, as a result of certain undisclosed agreements entered into on or around April 2013, it has acquired from Wavetower Limited (?Wavetower?),the debenture formerly held by Lloyds Bank Plc, which was acquired by Wavetower at the time of the acquisition of the club by Mr Whyte.

LFL asserts that this grants it a first charge secured interest over the realisations in the liquidation, in priority to all unsecured creditors. LFL further suggests that its claim is for c?25m.

 

The claim has not been adequately made out in the letter received from LFL, nor is it compliant with the provisions of the Scottish Insolvency Rules. The legal advisors to LFL have recently informed the Joint Liquidators that full details of the claim will shortly be provided, albeit they had previously undertaken to provide this information by 4 August 2015.

 

Based on the information available at this stage, the Joint Liquidators do not consider that the claim is valid, however, we will review with our legal team any further information or documentation provided by LFL in support of its claim.

 

The Joint Liquidators note that LFL has had nearly two years to submit a claim in the liquidation.

 

It is not therefore clear why there continues to be a delay in providing further details. In the circumstances, the Joint Liquidators wish to bring this issue to a resolution as swiftly as possible.

 

Unfortunately, as no formal claim has been submitted by LFL, the option of simply rejecting the claim is not available to the Joint Liquidators at this stage.

 

Accordingly, the Joint Liquidators recently submitted an application to the Court of Session, asking the Court to fix a short timescale for LFL to submit full details of its claim or lodge answers.

 

A first Order has been granted by the Court, under which LFL has until 4 September to lodge answers.

 

Such answers will include any representations that LFL wishes to make in respect of its claim, including any explanation or mitigating factors for the delay in providing full details of the claim to date.

 

If answers are lodged on or before 4 September, the Court will thereafter determine the timescales within which LFL is required to submit its formal claim or be excluded from the dividend.

 

If no answers are lodged by LFL by 4 September 2015, the Joint Liquidators will immediately apply for a further Court Order, which will set a timescale for LFL to submit its formal claim or be excluded from the dividend.

 

If a claim is received the Joint Liquidators will carry out an adjudication to accept or reject the claim. If it is rejected, LFL will have 14 days to lodge an appeal with the Court of Session.

 

Until this matter is resolved, given the potential priority of the LFL claim the Joint Liquidators regrettably have no option but to delay the payment of the interim dividend to unsecured creditors.

 

The Joint Liquidators appreciate that this is an unfortunate development for unsecured creditors and would like to thank all creditors for their on-going patience in this matter.

 

Yours faithfully

 

For and on behalf of
RFC 2012 P.L.C. formerly The Rangers Football Club P.L.C.
James Bernard Stephen
Joint Liquidator

Edited September 3, 2015 by Footballfirst

[Jambo-Jimbo]

Hopefully this results in HMRC seizing all assets of Sevco as proceeds of organised crime and selling them off to recoup their ?130million.

 

Could also perhaps explain why Hector is still trying to win the Big Tax Case and if it's proven that Rangers are indeed a Phoenix Company then could Hector lay claim to all the assets?

[Jambo-Jimbo]

I don't remember where I heard this but seemingly the only time Shooter looked in a panic was when it seemed he might not get to pick the administrators he wanted.

 

Correct, I remember that as well.

[Hagar the Horrible]

Just a theory mind..just a theory, and to keep things separate from any court case..... Lets just say Mr Beige bought a financially stricken business Mintco which owned a football club say Govan FC, failed to pay on-going tax and basically asset striped it, he then forced it deliberately into admin and was allowed to convince the court that his own appointed administrators B&O, who were in on the scam from the start. B&O find a savour in the shape of Mr Lime from out of the blue so to speak? however unbeknown Mr Lime is also part of the scam. Other savours come forward but are put off by B&O, Mr Lime with Mr Beige hiding in the background register Fraudco 5088 and Fraudco Scotland which became preferred bidder. An unrealistic CVA was put in place knowing it would fail, but as preferred bidder they bought Govan FC for peanuts, writing off the massive debt to the taxman. this organised crime gang under the guise of Fraudco Scotland, illegally took ownership of Govan FC, and Changed the name of the holding company to Govan International FC. they then sold shares to the unsuspecting public, raising enough to double their original investment while keeping control and via erroneous contracts managed to spend the remainder of the money ?millions in quick time. once the money was gone and some pesky kids got wind of summit wrong, they sold their shares to the previously unsuccessful savours who now have full control but in doing so, one of the new owners is a convicted tax felon... Mr Queen and as such Govan International FC (formerly Fraudco Scotland)are unable to trade on the stock exchange.

 

Now if it is found that Mr Beige, Mr Lime and B&O acted illegally in allowing Fraudco Scotland to wholly seize the assets of (Mintco) Govan FC, then it could be possible that all the assets are returned to the company that was defrauded (Mintco) current facing liquidation and administered by Goodguys Accountants. Goodguys accountants will either then be able to keep Mintco running as a going concern but more likely sell off the assets ie. Govan Fc to pay back hector and the other creditors.

 

This would leave all investors of Govan International Fc (formally Fraudco Scotland) a business setup by an organised crime unit, with no assets. As for the innocent investors, well that just tough luck you are advised when you gamble on the stock exchange that you could lose everything? But as Fraudco Scotland are now more or less a kosher company albeit with Mr Queen in charge a convicted tax fraudster, they could put in an improved and fair offer to Goodguys accountants to buy the assets of Mintco which include Govan FC.

 

Now all of what I have stated is a pure work of fiction and could not have happened in the real world, neither would the potential outcome. But if I was an investor of Govan International FC I would be looking to recoup some sort of return by selling off my shares, however that wont be easy as Mr Queen has managed to get the company kicked off the stock exchange.

 

I tried running this past HBO as a one off drama but Game of thrones was more true to life that this? back to the drawing board

[Libertarian]

Just a theory mind..just a theory, and to keep things separate from any court case..... Lets just say Mr Beige bought a financially stricken business Mintco which owned a football club say Govan FC, failed to pay on-going tax and basically asset striped it, he then forced it deliberately into admin and was allowed to convince the court that his own appointed administrators B&O, who were in on the scam from the start. B&O find a savour in the shape of Mr Lime from out of the blue so to speak? however unbeknown Mr Lime is also part of the scam. Other savours come forward but are put off by B&O, Mr Lime with Mr Beige hiding in the background register Fraudco 5088 and Fraudco Scotland which became preferred bidder. An unrealistic CVA was put in place knowing it would fail, but as preferred bidder they bought Govan FC for peanuts, writing off the massive debt to the taxman. this organised crime gang under the guise of Fraudco Scotland, illegally took ownership of Govan FC, and Changed the name of the holding company to Govan International FC. they then sold shares to the unsuspecting public, raising enough to double their original investment while keeping control and via erroneous contracts managed to spend the remainder of the money ?millions in quick time. once the money was gone and some pesky kids got wind of summit wrong, they sold their shares to the previously unsuccessful savours who now have full control but in doing so, one of the new owners is a convicted tax felon... Mr Queen and as such Govan International FC (formerly Fraudco Scotland)are unable to trade on the stock exchange.

 

Now if it is found that Mr Beige, Mr Lime and B&O acted illegally in allowing Fraudco Scotland to wholly seize the assets of (Mintco) Govan FC, then it could be possible that all the assets are returned to the company that was defrauded (Mintco) current facing liquidation and administered by Goodguys Accountants. Goodguys accountants will either then be able to keep Mintco running as a going concern but more likely sell off the assets ie. Govan Fc to pay back hector and the other creditors.

 

This would leave all investors of Govan International Fc (formally Fraudco Scotland) a business setup by an organised crime unit, with no assets. As for the innocent investors, well that just tough luck you are advised when you gamble on the stock exchange that you could lose everything? But as Fraudco Scotland are now more or less a kosher company albeit with Mr Queen in charge a convicted tax fraudster, they could put in an improved and fair offer to Goodguys accountants to buy the assets of Mintco which include Govan FC.

 

Now all of what I have stated is a pure work of fiction and could not have happened in the real world, neither would the potential outcome. But if I was an investor of Govan International FC I would be looking to recoup some sort of return by selling off my shares, however that wont be easy as Mr Queen has managed to get the company kicked off the stock exchange.

 

I tried running this past HBO as a one off drama but Game of thrones was more true to life that this? back to the drawing board

Brilliant.

[Don Dan]

Just a theory mind..just a theory, and to keep things separate from any court case..... Lets just say Mr Beige bought a financially stricken business Mintco which owned a football club say Govan FC, failed to pay on-going tax and basically asset striped it, he then forced it deliberately into admin and was allowed to convince the court that his own appointed administrators B&O, who were in on the scam from the start. B&O find a savour in the shape of Mr Lime from out of the blue so to speak? however unbeknown Mr Lime is also part of the scam. Other savours come forward but are put off by B&O, Mr Lime with Mr Beige hiding in the background register Fraudco 5088 and Fraudco Scotland which became preferred bidder. An unrealistic CVA was put in place knowing it would fail, but as preferred bidder they bought Govan FC for peanuts, writing off the massive debt to the taxman. this organised crime gang under the guise of Fraudco Scotland, illegally took ownership of Govan FC, and Changed the name of the holding company to Govan International FC. they then sold shares to the unsuspecting public, raising enough to double their original investment while keeping control and via erroneous contracts managed to spend the remainder of the money ?millions in quick time. once the money was gone and some pesky kids got wind of summit wrong, they sold their shares to the previously unsuccessful savours who now have full control but in doing so, one of the new owners is a convicted tax felon... Mr Queen and as such Govan International FC (formerly Fraudco Scotland)are unable to trade on the stock exchange.Now if it is found that Mr Beige, Mr Lime and B&O acted illegally in allowing Fraudco Scotland to wholly seize the assets of (Mintco) Govan FC, then it could be possible that all the assets are returned to the company that was defrauded (Mintco) current facing liquidation and administered by Goodguys Accountants. Goodguys accountants will either then be able to keep Mintco running as a going concern but more likely sell off the assets ie. Govan Fc to pay back hector and the other creditors.This would leave all investors of Govan International Fc (formally Fraudco Scotland) a business setup by an organised crime unit, with no assets. As for the innocent investors, well that just tough luck you are advised when you gamble on the stock exchange that you could lose everything? But as Fraudco Scotland are now more or less a kosher company albeit with Mr Queen in charge a convicted tax fraudster, they could put in an improved and fair offer to Goodguys accountants to buy the assets of Mintco which include Govan FC.Now all of what I have stated is a pure work of fiction and could not have happened in the real world, neither would the potential outcome. But if I was an investor of Govan International FC I would be looking to recoup some sort of return by selling off my shares, however that wont be easy as Mr Queen has managed to get the company kicked off the stock exchange.I tried running this past HBO as a one off drama but Game of thrones was more true to life that this? back to the drawing board

 

Reservoir Dogs where everybody ends up shooting each other. Mr. Whyte points his gun at Mr. Greens head. The fraud police storm the warehouse, demanding that Mr. Whyte drop his gun. A single shot is heard, killing Mr. Green and Mr. Whyte is gunned down by the fraud police as the soap opera ends. All those creditors get some money back, Govan International FC are buried once again and the sad dafties who invested in the Fraudulent club get zippo.

Give it a few years and it will be a best seller and hit TV series. Sports Direct make a fortune selling the T Shirts.

[phoenix]

Re the Record report....Sherriff Sean Murphy    

[Footballfirst]

PMGB thinks that Ashley has taken some action to look after his interests after this week's events.

 

http://www.philmacgiollabhain.ie/general-ashley-makes-a-move/

[Mikey1874]

PMGB thinks that Ashley has taken some action to look after his interests after this week's events.

 

http://www.philmacgiollabhain.ie/general-ashley-makes-a-move/

which would be sensible

[Dutchmul]

If you believe this then you're wilfully ignorant. The arrests are in relation to the fraudulent purchase of Rangers, and everything that happened afterwards. The administrators have been arrested. What chance did Rangers fans have of purchasing the club? The Blue Knights were a consortium of fans who done everything that was required, and yet Duff and Phelps chose to go with an anonymous consortium. The whole thing was a stitch up.. I feel as though you know this but you choose to be blind to it so you can be a troll.

 

They did everything that was required except come up with the most cash. Sevco fans accusing us of being troll's, irony at it's finest.

 

You lot welcomed big hands with open arms, you loved his watp crap. you lapped up his rhetoric about the haters of sevco and his we are the same club baloney, the sevco fans have been fleeced by a bunch of spivs, and what makes it worse is that the you turned on the driscoll brothers who took nothing from the club for keeping the lights on and told ashley to gtf and welcomed the glib and shameless liar(and convicted tax fraudster - 41 times) and mini me as saviours!!! you guys deserve everything you get, there is a reason why every other football fan in scotland hates you- your arrogance.

 

There is an old saying "the birth rate of suckers has never dropped", sevco fans are living proof of that.

[Jamdub]

Just a theory mind..just a theory, and to keep things separate from any court case..... Lets just say Mr Beige bought a financially stricken business Mintco which owned a football club say Govan FC, failed to pay on-going tax and basically asset striped it, he then forced it deliberately into admin and was allowed to convince the court that his own appointed administrators B&O, who were in on the scam from the start. B&O find a savour in the shape of Mr Lime from out of the blue so to speak? however unbeknown Mr Lime is also part of the scam. Other savours come forward but are put off by B&O, Mr Lime with Mr Beige hiding in the background register Fraudco 5088 and Fraudco Scotland which became preferred bidder. An unrealistic CVA was put in place knowing it would fail, but as preferred bidder they bought Govan FC for peanuts, writing off the massive debt to the taxman. this organised crime gang under the guise of Fraudco Scotland, illegally took ownership of Govan FC, and Changed the name of the holding company to Govan International FC. they then sold shares to the unsuspecting public, raising enough to double their original investment while keeping control and via erroneous contracts managed to spend the remainder of the money ?millions in quick time. once the money was gone and some pesky kids got wind of summit wrong, they sold their shares to the previously unsuccessful savours who now have full control but in doing so, one of the new owners is a convicted tax felon... Mr Queen and as such Govan International FC (formerly Fraudco Scotland)are unable to trade on the stock exchange.

 

Now if it is found that Mr Beige, Mr Lime and B&O acted illegally in allowing Fraudco Scotland to wholly seize the assets of (Mintco) Govan FC, then it could be possible that all the assets are returned to the company that was defrauded (Mintco) current facing liquidation and administered by Goodguys Accountants. Goodguys accountants will either then be able to keep Mintco running as a going concern but more likely sell off the assets ie. Govan Fc to pay back hector and the other creditors.

 

This would leave all investors of Govan International Fc (formally Fraudco Scotland) a business setup by an organised crime unit, with no assets. As for the innocent investors, well that just tough luck you are advised when you gamble on the stock exchange that you could lose everything? But as Fraudco Scotland are now more or less a kosher company albeit with Mr Queen in charge a convicted tax fraudster, they could put in an improved and fair offer to Goodguys accountants to buy the assets of Mintco which include Govan FC.

 

Now all of what I have stated is a pure work of fiction and could not have happened in the real world, neither would the potential outcome. But if I was an investor of Govan International FC I would be looking to recoup some sort of return by selling off my shares, however that wont be easy as Mr Queen has managed to get the company kicked off the stock exchange.

 

I tried running this past HBO as a one off drama but Game of thrones was more true to life that this? back to the drawing board

             

[Charlie-Brown]

I sense another corporate restructuring could be necessary at Govan FC to unravel this farce, expect lots of mercy and sympathy from the President & Chief Executive of the SFA and the Chairman & Chief Executive of the SPFL, its all for the greater good of Scottish Football we will most likely be told ....... Again.

[RobNox]

The only thing in the last 3-4 years that was in any way organised at that shambles of a set-up.

 

 

I've no idea what 'serious organised crime' actually means in Scots Law but I've only got images of Don Verde and Don Bianco taking care of business.

 

Is the end game one where the losers from 2012 (i.e. the creditors who got xp in the pound when it ought to have been yp) receive additional compensation? If a further liability is identified to those creditors (victims of a crime in setting up Sevco?), surely it falls on Sevco/RIFC to provide that compensation? Caveat Emptor and all that.

Is it to differentiate from organised crime where the perpetrators were only doing it for a laugh?