Comment on Fantastic Voyage .. by easyJambo.

    Auldheid has posted a link on Twitter to a new etims blog, to which he has contributed, which is a review and update on the LNS decision as it relates to the WTC and non-disclosure of documents by the club, when it was in the hands of the administrators.


    The non disclosure of documents has always troubled me. It was considered by LNS under "Issue 4" (see paragraphs 92-102 of the final decision), but its relevance was minimised as the club was only "admonished" for these failings (paragraph 110).

    The reason I'm troubled by it, is that any inquiry that does not have access to all the information it seeks is flawed from the outset. In the context of the LNS Commission, it was fatally flawed from the outset. 

    It is clear that vital documents were deliberately withheld at the request of any of the Administrators, or RFC officials, or Murray Group officials. For LNS to minimise such actions with just an "admonishment" is shameful, particularly as the information withheld had a significant bearing on the decision making capability of the Commission on the other substantive matters (Issues 1-3).  

    easyJambo Also Commented

    Fantastic Voyage ..
    With regard to Steve Clarke, I'm not surprised that he has been given a Notice of Complaint for his comments about the officials regarding Dicker's red card.

    Straight leg challenge over the ball?



    I am surprised however ……………  sorry I'm not surprised that Gerrard and Jack weren't given Notices of Complaint for similarly disparaging comments about officials.


    Fantastic Voyage ..
    The Assistant Referee had a limited view?

    View post on imgur.com

    Looks to have a clear view to me and made a decision based on what he saw.

    I would question his competence if he asked the ref to show a red card for an incident for which he had a limited view.

    Fantastic Voyage ..
    Must be feeling better laugh

    James Doleman‏ @jamesdoleman

    Thanks .@peterjukes .@TumshiePam and everyone else who has been kind enough to visit, and to all of you who have sent kind words. 😉

    10:51 AM – 14 Sep 2018

    Recent Comments by easyJambo

    Resolution 12 & The Broken Bond
    John Clark 10th December 2019 at 22:04

    I wonder what evidence the Compliance Officer has for any of these charges?


    You've lost me there JC. Who is this Compliance Officer? indecision

    I've got vague recollections of a Compliant Officer (not) dealing with issues presented to them but that's about it. 

    Resolution 12 & The Broken Bond
    paddy malarkey 10th December 2019 at 20:04

    Is Rule 31 to do with contracts ? 


    No, but I could give you odds that it’s betting!

    Resolution 12 & The Broken Bond
    On re-reading the BDO report, I think the settlement figure for Wavetower may only be £962,500.

    It does appear as if there were two payments, one in the last six month period and the other in the previous six month period. However, I think that the date headers on the columns in the report are wrong (or at least they are inconsistent with previous reports), leading to the confusion.

    In previous reports under "Statement of Affairs" there are two columns, one which lists the outgoings over the last six months and the other which gives the cumulative total for the liquidation to date (since 2012).

    The dates on this report are 31/10/2018 to 30/10/2019 (I think it should read 01/05/2019 to 30/10/2019) and the other reads 31/10/2012 to 30/04/2019 (should be 31/10/2012 to 30/10/2019).

    Resolution 12 & The Broken Bond
    Another snippet from the BDO report relates to the debenture holders now being time barred from making claims if they haven't already done so. From the figures supplied, only a little over 20% have made claims.

    The Joint Liquidators were also aware that the Company had potential liabilities to Bondholders totalling £7.7m. Claims totalling £1.571m have been received from Bondholders to date, on which a first dividend has been paid. Following discussions with our legal advisors, the Joint Liquidators now consider that they have made every effort to seek out and admit these claims, and any future claims will now be legally time barred under Scots Law. No further claims will therefore be admitted from Bondholders or any other creditor who has not previously intimated their claim.

    Resolution 12 & The Broken Bond
    The latest BDO report to creditors can be found here https://www.bdo.co.uk/en-gb/rfc-2012-plc

    The two main points in the report are the size of the HMRC claim and a settlement with Wavetower.

    HMRC's claim, currently stands at £67.6m, with scope for further reduction if BDO can successfully argue against HMRC's "grossing-up" methodology.

    The settlement with Wavetower, which we had suspected had happened in August of this year, is confirmed. The settlement figure appears to be reported as £1.880m, with other references to two equal payments of £962,500 having been made.  The sums don't add up, but are close enough.