Comment on JPP: Perverting Justice? by easyJambo.

    redlichtie 15th October 2018 at 15:46  


    You'd have to assume that they have raised enough money to pay them off.

    easyJambo Also Commented

    JPP: Perverting Justice?
    I note that an "unopposed" motion was granted yesterday in the RIFC v Chuckles case, which is about him agreeing deals not in the club's best interests.

    A97/18 Rangers International Football Club Plc v Charles Green – Anderson Strathern LLP

    Based on Anderson Strathern being named, I'd expect that the motion originated from RIFC. It is probably a fairly routine request, e.g. for documents.

    It might be an interesting case once it starts making progress through the court. I understand that Green has engaged Heriot Currie QC to defend him, so he's getting one of the best available. Currie defended David Whitehouse in the preliminary hearings in the criminal trial, before the charges were dropped against him.


    JPP: Perverting Justice?
    StevieBC 10th October 2018 at 14:59  


    You can add Portugal, and specifically Benfica to that list.

    It seems they don't like Bloggers revealing internal club documents, such as:

    " It included a Benfica slide show detailing an apparent effort to gain greater influence over federation and league officials "

    " There were also documents suggesting connections between the club and the men responsible for overseeing refereeing in Portugal. "

    …… the article goes on:

    " The police are investigating the hack on Benfica’s system, but also the club itself. Law enforcement officials have conducted raids on Benfica’s offices, and last month prosecutors charged the club with corruption after investigators found it had a mole inside the Portuguese judicial system. "

    " The Portuguese soccer federation has started a separate investigation. "

    It couldn't happen in Scotland of course, because all our football authorities and club officials are beyond reproach, …………. or so we are told.

    JPP: Perverting Justice?
    How one country's league teams co-operate in the common interest of all clubs within that league.

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    Recent Comments by easyJambo

    Dear Mr Bankier
    Dave King is just a couple of days away from the next deadline imposed by his undertaking to the Court of Session, to appoint an acceptable "cash confirmer" with a UK presence and a "legal advisor", by close of business on Friday.

    Here's what the undertaking said:

    Take all such steps as are required to instruct a third party cash confirmer in the United Kingdom (the “Cash Confirmer”) that is considered appropriate by the Panel and confirmed as such by the Panel in writing, as soon as practicable and in any event by no later than 17:30GMT on 14 December 2018, being the date that is two weeks from the date of this undertaking, to do all such things as are required in order to provide a public cash confirmation statement for the purpose of assisting Laird Investments (Pty) Limited (“Laird”) to make an offer for the entire issued share capital of Rangers International Football Club Plc (“Rangers”) on a fully diluted basis (or on such other basis as is agreed in writing by the Panel and the Cash Confirmer) (“the Offer”) including, if required, transferring all such funds as are required into the United Kingdom.

    …… and

    To appoint a legal advisor by 17:30GMT on 14 December 2018 to undertake all such matters as are required to ensure that the documentation complies with the Code and to liaise with the Panel in relation thereto.

    I fully expect that King will comply with these deadlines, but we may have to wait a bit longer to see how much he is being asked to put up in cash. I'd anticipate that the "not willing to sell" letters of undertaking he has obtained from shareholders who participated in the September share placing will significantly reduce the funds required, down from the headline £19m figure to maybe half of that. 

    Dear Mr Bankier
    I see that the Herald has caught up with the story of BDO seeking an out of court settlement with Henderson & Jones (on behalf of Wavetower/TRFCG).


    IIRC Whyte had a deal where he would get on third of any sums received.

    Dear Mr Bankier
    At the recent TOP v King hearing, I joked with Chris McLauglin, asking if he was allowed to ask Dave King a few questions outside the court room. He responded by saying "I'm not sure if he is allowed to speak to me".

    Dear Mr Bankier
    Homunculus 9th December 2018 at 11:41


    I have a fairly simplistic view of HMRC's acquiescence on the "penalty" amount.  They are satisfied that they have the Supreme Court judgement in their back pocket. That will allow them to recoup much more of a return from companies and individuals, rather than concern themselves about a few pence in the pound dividend from a liquidated company.

    Dear Mr Bankier
    The dividends paid to date amount to £9,265.47 for preferential creditors and £4,620,599.40  to unsecured creditors.

    There is only £7,757,414.44 left in the pot.

    Needless to say, BDO (£4,414,671.13 plus outlays of £58,679.66) and their legal fees (circa £10.5m) have consumed the majority of the cash. (remember £24m was received from Collyer Bristow's insurers).

    The Oldco still has a claim of £28m against Duff & Phelps outstanding, although there is a claim of £18m against the Oldco, on behalf of Wavetower, still on the go too.