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The Sevco saga continues ...


JamboAl

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Ex member of the SaS

Nearly 4 hours since the case started, anyone heard anything or seen anything in print? Really hopeing it's bad news for them.

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Brick Tamland

Sevco were claiming Elite Sport owed them money which the previous injunction stopped them collecting, the judge has ruled they can collect.

According to a tweet by James Doleman

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In court today. (Not me.!)

 

Lawyers representing Rangers said SDI should pick up club's legal bills for the latest round.

SDI lawyers agreed in principle because Rangers had won.

But they said Rangers had spent too much on lawyers. They said the club's legal bill totalled around £100,000 and suggested that around half of that would be a reasonable figure.

Judge Lionel Persey split the difference. He said SDI should pick up £75,000 worth of the club's legal bills.

The judge said £75,000 was a reasonable figure.

 

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Footballfirst

SDI had obtained an injunction in July last year that prevented TRFC from promoting or assisting their retail and kit agreement with Elite/Hummel.

 

At a hearing on 15th January, TRFC had asked that the effect of injunction be relieved or reduced. The basis of that was that TRFC was due money from Elite. I don't know if Elite was playing silly buggers in not passing on the cash to TRFC (because of the injunction), but today's judgement enables TRFC to either receive the cash due to them, or pursue court action against Elite for the recovery of the cash.  TRFC claims that the amount involved is around £2.4m (including VAT), less a small amount that Elite has already paid.

 

The Judge ruled that the payment of monies due as part of the agreement did not breach the terms of the injunction, which remains in place.

 

It will probably take a few more months to resolve the outstanding SDI claims against TRFC and Eliite and TRFC's counter claim against SDI.  I'd expect that all parties will want the matter resolved before next season's kit goes on sale.

 

Here is a link to today's full judgement (it's only 4 pages long).

https://www.docdroid.net/c7dFwz1/sdir-v-rangers-judgment-on-scope-of-injunction-final.doc

 

It's the equivalent of TRFC being 5-0 down, then scoring to make it 5-1 and the VAR review allowed the goal to stand.

Edited by Footballfirst
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  • 2 weeks later...

Ah the squirming is beginning. Nothing like getting your defence in early. The Daily Record is clearly going to be exposed big time. Interesting how he throws his former bosses under the bus - Waddell (dad or brother of Gordon Waddell I think and of course Jabba.

https://www.dailyrecord.co.uk/sport/football/football-news/craig-whytes-rangers-power-myth-21464319

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Just now, eyesandears said:

Ah the squirming is beginning. Nothing like getting your defence in early. The Daily Record is clearly going to be exposed big time. Interesting how he throws his former bosses under the bus - Waddell (dad or brother of Gordon Waddell I think and of course Jabba.

https://www.dailyrecord.co.uk/sport/football/football-news/craig-whytes-rangers-power-myth-21464319

 

Less throwing them under a bus... more like full on ISIS... put them in a cage, poured petrol over them a lit a match... absolutely savage take down of his former masters. 

 

Taking all of it with a pinch of salt. Jackson has shown he has no credibility.

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On 10/12/2019 at 21:12, busby1985 said:

Morelos was the penalty taker, everyone knew this pre match. Tav took the ball to give to Morelos as a way of showing him acting as a captain and to keep the Celtic players trying to get in Morelos ear. That’s straight from the after match meal at Ibrox.  Arfield is now on pens going forward. 

See Arfield was on penalty duty at the weekend...

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17 minutes ago, Mysterion said:

 

Less throwing them under a bus... more like full on ISIS... put them in a cage, poured petrol over them a lit a match... absolutely savage take down of his former masters. 

 

Taking all of it with a pinch of salt. Jackson has shown he has no credibility.

Jackson, Waddell (snr and jnr), Traynor, Ralston. All being exposed as imposters. Not a true journalist between them. It can only be a matter of time before that rag shuts the printing presses for the final time.

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33 minutes ago, eyesandears said:

Ah the squirming is beginning. Nothing like getting your defence in early. The Daily Record is clearly going to be exposed big time. Interesting how he throws his former bosses under the bus - Waddell (dad or brother of Gordon Waddell I think and of course Jabba.

https://www.dailyrecord.co.uk/sport/football/football-news/craig-whytes-rangers-power-myth-21464319

Hilarious. The big boys made me do it defence.  Laugh a minute from someone who has much to hide I reckon.  Going to be a interesting Valentines Day at the Record, you can almost feel the "love". 

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1 hour ago, eyesandears said:

Ah the squirming is beginning. Nothing like getting your defence in early. The Daily Record is clearly going to be exposed big time. Interesting how he throws his former bosses under the bus - Waddell (dad or brother of Gordon Waddell I think and of course Jabba.

https://www.dailyrecord.co.uk/sport/football/football-news/craig-whytes-rangers-power-myth-21464319


Keith “off the radar wealth” Jacks-hun rallying the simpleton readership of the paper that he and his fat pal Jabba used to run. :lol:

 

Anyone thick enough to have their opinions spoon fed to them by this weedgie cretin and his fat mate deserve all the misery that is hopefully coming their way. B) 

 

Just die again, please, you deplorable Hun wanks. :thumbsup:  
 

 

Edited by Special Officer Doofy
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Ex member of the SaS

Jackson claiming the record has won awards for being a factual paper, yet he says he wrote the Whyte piece due to information he didn't verify or check but was given by his then boss. If they want to back track they should understand the back prints are still available and we all know what he said propagating to be facts.

The REAL facts are Jackson, Traynor etal are not journalists but simply mouth pieces to editorial dictation.

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2 minutes ago, Lovecraft said:

Jackson is a ****ing weasel.

 

Traynor is more like a sea otter.

 

 


Harsh on sea otters. They are reasonably cute. If we are going to use mustelids as the measure, then I’d go for an over fed skunk, personally.

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Just now, Special Officer Doofy said:


Harsh on sea otters. They are reasonably cute. If we are going to use mustelids as the measure, then I’d go for an over fed skunk, personally.

 I went by size, but yeah otters are pretty cool.

 

K, a big fat skunk it is.

 

 

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31 minutes ago, Lovecraft said:

 I went by size, but yeah otters are pretty cool.

 

K, a big fat skunk it is.

 

 

Otters have deep, dry pockets, he'll need them. 

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Footballfirst

I don't think this Retail deal is going to end well either.

https://rangers.co.uk/news/headlines/club-statement-91/

 

THE Rangers Football Club Limited (Rangers) has served proceedings on LBJ Sports Apparel Limited trading as Elite for payment of the sum of £2,840,236.75 plus interest and expenses.

The payment relates to sums that require to be paid to Rangers by Elite in terms of the Agreement between Rangers, Elite and Hummel A/S for the manufacture and supply of Rangers Kit and other products.

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Footballfirst

The latest action is the fall-out (no pun intended) from the court ruling of 29 January,

 

Elite obviously haven't handed over the cash the TRFC thinks it is due.  TRFC will now have to present its reasons why the cash is due and the amount.

 

Meanwhile SDI will be  sitting on the sidelines counting up how much they might be due from TRFC and in their separate claim against Elite. Elite may have been holding onto funds for the reason, i.e. that they had been party to the breached contract.

 

It might be worthy of note that a couple of ex SDI personnel hold senior positions in Elite.  It may of course just be a coincidence that senior staff move around in a relatively small number of companies in the same area of business

Edited by Footballfirst
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4 minutes ago, Dannie Boy said:

A weee Elite administration might be on the horizon.


That would be hilarious in regards to the Rangers perspective. Shame for the Elite employees. 

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Seymour M Hersh
On 10/02/2020 at 17:47, Lovecraft said:

Jackson is a ****ing weasel.

 

Traynor is more like a sea otter.

 

 

 

I have a photo of the pair heading to Ibrox for a game.

 

 

th.jpeg

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53 minutes ago, Footballfirst said:

It might be worthy of note that a couple of ex SDI personnel hold senior positions in Elite.  It may of course just be a coincidence that senior staff move around in a relatively small number of companies in the same area of business


Would be some conspiracy if Elite turned out to be something Mike Ashley came up with to f^ck with Rangers. 
 

 

That aside - if they are taking steps to get money released then it sounds a bit desperate.

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The Future's Maroon
1 hour ago, Footballfirst said:

I don't think this Retail deal is going to end well either.

https://rangers.co.uk/news/headlines/club-statement-91/

 

THE Rangers Football Club Limited (Rangers) has served proceedings on LBJ Sports Apparel Limited trading as Elite for payment of the sum of £2,840,236.75 plus interest and expenses.

The payment relates to sums that require to be paid to Rangers by Elite in terms of the Agreement between Rangers, Elite and Hummel A/S for the manufacture and supply of Rangers Kit and other products.

They are about to hit the skids, again, so a prominent Rangers board member told my ex-work colleague less than a week ago (if true of course).

 

I had the fortune of working on the original admin case while working for HMRC, I have no reason to doubt his prediction.

 

Something is brewing in the dark corridors of Ibrox.

 

 

 

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2 minutes ago, The Future's Maroon said:

They are about to hit the skids, again, so a prominent Rangers board member told my ex-work colleague less than a week ago (if true of course).

 

I had the fortune of working on the original admin case while working for HMRC, I have no reason to doubt his prediction.

 

Something is brewing in the dark corridors of Ibrox.

 

How damaging it could be if we knock them out the cup :D

 

Deny them a trip to Hampden and some much needed additional revenue

 

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1 hour ago, gjcc said:


That would be hilarious in regards to the Rangers perspective. Shame for the Elite employees. 

I would hope elite haven’t paid tax for a while as the taxman will be first in the queue for anything left after impromptu admin 😂😂 

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1 hour ago, Dannie Boy said:

A weee Elite administration might be on the horizon.

Or a pre pack one.

 

As you were from an Elite perspective, new owners already identified, admin costs kept down, assets not at risk, just creditors shafted. 

 

Morally a bit shit though.

 

 

 

 

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17 minutes ago, Barack said:

Spunked the dollah to stop 9iar.

 

Failed. And will fail to stop 10 next year too. More dollah.

 

 

Roll on.

Morelos, who was worth £60m in January (copy the 'attempted murder' journo) will be at £100m by then.

 

Dominating from 2020 onwards.

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The Future's Maroon
29 minutes ago, Barack said:

Spunked the dollah to stop 9iar.

 

Failed. And will fail to stop 10 next year too. More dollah.

 

 

Roll on.

I think that’s exactly where it’s going, the four year contract SG got recently was a money maker for them.... when a EPL club comes calling for him, which I think will come this Summer?

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Bazzas right boot
41 minutes ago, Barack said:

Spunked the dollah to stop 9iar.

 

Failed. And will fail to stop 10 next year too. More dollah.

 

 

Roll on.

 

 

Pretty much this. 

 

When 10iar happens I reckon a lot of fans and folk of note/ importance will give up. 

 

The knock on effect of rangers floundering is that Celtic fans will get bored after a time too. 

15iar or the likes by spanking teams on a tenth of the budget and hopefully no Ucl football won't hold an  interest forever. 

 

Celtic need a strong rangers for commercial and marketing. 

Rangers going pop will hurt them over time as well. 

 

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36 minutes ago, Smith's right boot said:

 

 

Pretty much this. 

 

When 10iar happens I reckon a lot of fans and folk of note/ importance will give up. 

 

The knock on effect of rangers floundering is that Celtic fans will get bored after a time too. 

15iar or the likes by spanking teams on a tenth of the budget and hopefully no Ucl football won't hold an  interest forever. 

 

Celtic need a strong rangers for commercial and marketing. 

Rangers going pop will hurt them over time as well. 

 

A win win scenario.

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38 minutes ago, Smith's right boot said:

Celtic need a strong rangers for commercial and marketing. 

Rangers going pop will hurt them over time as well. 

 

Which might be why Celtic are only spending enough to stay just ahead of Rangers rather than properly putting the boot in. Dangerous game though.

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Footballfirst

What I don't understand about this debt, is how it has been allowed to build so far without TRFC taking action to recover it.

 

There were suggestions that Elite/LBJ were using the SDI injunction as a reason not to pay. The last judgement in January ruled in TRFC's favour that they could receive any funds due without breaching the injunction, so why did they not challenge it earlier.

 

From the Elite/LBJ point of view there are two possibilities, either they can't pay, or they think that they don't have an obligation to pay.  If it's the former, then we could see them trigger an insolvency event.  I can't see that either side would want further court action when the only people who will get rich are the lawyers.

 

LBJ extended their financial year end from the end of December to the end of March, which may or may not be significant.

Edited by Footballfirst
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4 minutes ago, Footballfirst said:

There were suggestions that Elite/LBJ were using the SDI injunction as a reason not to pay. The last judgement in January ruled in TRFC's favour that they could receive any funds due without breaching the injunction, so why did they not challenge it earlier.

Do we know when that challenge started? Those things all seem to take forever.

Maybe Rangers were concerned about damaging their prospects with future suppliers even further by suing Elite?

So they only did it when they were desperate for  the money?

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Footballfirst
18 minutes ago, Frankfurter said:

Do we know when that challenge started? Those things all seem to take forever.

Maybe Rangers were concerned about damaging their prospects with future suppliers even further by suing Elite?

So they only did it when they were desperate for  the money?

 

The last hearing, at which the claim was first mentioned, was on 15 January. It doesn't appear in court documents dated 27 November and 2 October, so I expect that TRFC only decided to pursue it in the last couple of months.  The injunction took effect on 19 July 2019.

 

This is what the judge's ruling of 29 January (re the 15 January hearing) stated about the alleged debt.

 

Under the Elite/Hummel Agreement Elite was required to pay an Annual Fee and Royalty Payments to Rangers. The base Annual Fee was £2 million for the purchase of 1-100,000 units and the Agreement made further provision for the payment of certain royalties based on global wholesale sales. It is Rangers’ position that at the time the Injunction was granted sums totalling £960,236.75 (including VAT) had not been paid by Elite. The Court was not informed of this at the time and nor was SDIR aware of it. Since the grant of the Injunction Rangers say that a further £1,470,000 (including VAT) has become due under the Elite/Hummel Agreement and has not been paid by Elite. Although Elite has paid some monies to Rangers the vast majority of the sums claimed are still said to be outstanding. I will assume for the purposes of this judgment that Elite does owe monies to Rangers under the Elite/Hummel Agreement.

Edited by Footballfirst
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9 minutes ago, Footballfirst said:

 

The last hearing, at which the claim was first mentioned, was on 15 January. It doesn't appear in court documents dated 27 November and 2 October, so I expect that TRFC only decided to pursue it in the last couple of months.  The injunction took effect on 19 July 2019.

 

This is what the judge's ruling of 29 January (re the 15 January hearing) stated about the alleged debt.

 

Under the Elite/Hummel Agreement Elite was required to pay an Annual Fee and Royalty Payments to Rangers. The base Annual Fee was £2 million for the purchase of 1-100,000 units and the Agreement made further provision for the payment of certain royalties based on global wholesale sales. It is Rangers’ position that at the time the Injunction was granted sums totalling £960,236.75 (including VAT) had not been paid by Elite. ...

Thanks FF. I suppose there's also the embarrassment angle to consider. All that fighting with Sports Direct over the right to deal with someone else, only for that deal to not actually deliver. And £2m/year sounds rather disappointing for them even if it was fully paid.

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Ex member of the SaS
12 hours ago, Smith's right boot said:

 

 

Pretty much this. 

 

When 10iar happens I reckon a lot of fans and folk of note/ importance will give up. 

 

The knock on effect of rangers floundering is that Celtic fans will get bored after a time too. 

15iar or the likes by spanking teams on a tenth of the budget and hopefully no Ucl football won't hold an  interest forever. 

 

Celtic need a strong rangers for commercial and marketing. 

Rangers going pop will hurt them over time as well. 

 

Celtic was the only club to lose money when Rangers went pop. Hopefully they will again when Sevco goes pop.

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29 minutes ago, Mikey1874 said:

Off the Ball have an interview with Craig Whyte.

 

I'm not entirely sure but may be getting played on their show on just now. 

 

On now

 

Started 13.05 for podcast. Telephone interview with Tam and Stuart.

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1 minute ago, Mikey1874 said:

 

On now

 

Started 13.05 for podcast. Telephone interview with Tam and Stuart.


Just tuned in. Will need to listen to the podcast but sounds pretty revealing.

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5 minutes ago, Dannie Boy said:


Just tuned in. Will need to listen to the podcast but sounds pretty revealing.

 

1. Would have put Rangers into administration on day he took over if had time again.

 

2. Doesn't think he did anything wrong.

 

3. Rangers are a new club.

 

Stuart Cosgrove saying they had to be careful for legal reasons. 

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And Craig Whyte confirms that Rangers are in fact a new club.

 

 

SC. Are Rangers a new club?

 

CW. Yes, obviously they are.

 

From the horses mouth.

 

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  • cosanostra changed the title to Sevco are as stupid as we thought

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