Three Shakes … and a Twist

Guest Post by James Forrest

Those who like to read the techno-thrillers of Tom Clancy will remember well the scene in The Sum of all Fears, when the nuclear bomb explodes in Denver, outside the stadium where the Super Bowl is being played. Clancy handles the moment in two very distinct chapters. The second is a vivid and frightening examination of the explosion’s terrible effects as they are felt, firstly in Denver and then experienced around the world.

Before that, he devotes an entire chapter to the mechanics of the explosion itself. Chapters like this are either what attract readers to Clancy in the first place or turn them off entirely. It is technical, it is complex, and the layman who reads it and fully understands it is indeed a massive geek. Of all the times he has loaded the reader with technical detail, this is probably when he risked most in terms of keeping you interested in the story. Yet it works. The chapter is not long, but nor is it short. And the events in it span not seconds but fractions of a second

It was in that chapter I first learned the term “shake”, so named for the old aphorism “a shake of a lamb’s tail”. A “shake” is a term used in nuclear physics. It represents ten nanoseconds. To grasp fully the size of that, consider that there are a billion nanoseconds in a second. The chemical process involved in a nuclear detonation involves a number of “shakes”, with a chain reaction usually completed in 50.

Clancy’s decision to devote an entire chapter of the book to a few nanoseconds came back to me over and over again during the weeks and months of the Rangers crisis. It became clear to me that, drawn out though the events following administration were, what we were seeing was not the effect of the explosion but the explosion itself. Those months were our nanoseconds. Every day, every revelation, every moment we thought was a separate event, was merely a peek inside the bomb case, at the chemical process of a chain reaction.

I would say the chain reaction was completed on the day HMRC announced they were refusing the CVA proposal. That was the detonation. It’s only now we’re witnessing the explosion, and its effects, and in my view we are still a long way from the end of that process. We have had the initial double flash thermal pulse and we’ve seen some EMP effects, but the real damage is still to come. The shock wave and the fireball have yet to spread, and their cumulative effects could yet annihilate Ibrox and extend as far as Hampden.

Am I making claims of “financial Armageddon”? No, I’m not. I never believed the collapse of Rangers would devastate Scottish football. I thought then, and now, that it was scaremongering nonsense to even suggest it. It didn’t matter to me whether the authorities were spreading those stories because of a deep-seated love of the Ibrox club, or because they had bonuses at stake, or out of their own internal, personal weaknesses. Those stories were inconsistent, based on worst case scenarios which were never likely to materialise, and insulting. The notion that the game in this country amounts to no more than one or two teams is offensive.

I love football. I always have. I’m a Celtic supporter, but my interests in the game extend far beyond my own club. At its best, football is a tremendous unifier of people, from those wonderful stories about Christmas Day in the trenches of World War I to the matches organised every year between Palestinian and Israeli children. The game has the potential for tremendous good. I am proud that my own club’s supporters have honoured the dead of Hillsborough and Ibrox. I am proud they unfurled a banner to the Benfica player Miklos Feher, and invaded Seville and showed that city how to party. I am proud of every moment when the supporters of a club applauded an injured player, or staged a silence to honour an official or competitor at another team. Although there are some who would use this sport in a divisive way, who would hijack it for their own ends, I believe this game can still be an inspiration, and find the best in all of us.

I think what happened during this summer, as the fans of every club in the land made their voices heard, was one of the greatest moments in Scottish football’s recent history. I believe it will have an impact far beyond one season. I think it was special.

My concern, as I’ve said, is that the appalling effects of the detonation at Ibrox are still to be fully realised. I am worried about the impact they could yet have on all of us.

Let me be quite specific about the two things that worry me most. They are to do with the decision to grant Sevco/Rangers a license to play in the Scottish Football League this year.

First, I believe the license was granted without sufficient guarantees being given by Charles Green and others that they would respect the decisions taken by the independent judiciary panel of the SPL in relation to EBTs, and secondly, I am concerned that not enough is known about Green and his financial backers, or plans for Rangers, for the authorities to be satisfied that the club is in good financial health. I don’t believe for one second anyone can allay my fears in these two areas. It is obvious to all that due diligence has not been done, and the entire situation at Rangers/Sevco is still shrouded in doubt, and that anything may yet happen.

The independent panel investigating dual contracts is going to have to make the most momentous decision in the history of the game in the UK. I do not believe what Rangers are accused of has any precedent. We are talking about a decade or more in which the results of every single match might be in doubt. Every single game. The rules were not written to envision such an appalling breach of faith. It would seem almost inevitable that stripping of titles will be the smallest of Charles Green and Ally McCoist’s concerns if this verdict goes against them.

Frankly, I don’t see an alternative to suspending Rangers membership of football in this country for at least two years, with points deductions and monetary fines to follow when the suspension period is done. This is not harsh; in fact it falls far short of the maximum penalty, which is expulsion from the game altogether, and as it is the authorities are going to have to do a damned good job of setting out the reasons why that ultimate sanction is not applied. It will not be enough to say it would damage the game in Scotland to wipe the club away. To allow a decade of malfeasance to pass without that ultimate sanction would create the perception that Rangers is above the law, and I cannot think of anything that would do the game more harm than for any club to be considered too big, or too important, to be subject to the regulations.

With their money on the table, I don’t see any way Charles Green and his cohorts will accept the judgement of the independent panel if it has an impact on their plans to recoup their investments. With the way he’s rallied the Rangers fans behind him recently, by essentially talking about a conspiracy against them, I don’t see how he convinces them to accept sanctions, even if he personally was inclined to do so. He has painted himself into a corner where now, if he wants his money at all, he has to fight, and keep on fighting. Without the written guarantee that the club would accept whatever the panel decides, without recourse to the law, I will be shocked if this matter doesn’t end up in the courts somewhere down the line, because I don’t think for one second he signed up to that particular demand.

I think the SFA backed down on this, the most fundamental matter of them all.

Which isn’t to say the due diligence matter isn’t worrying, because, of course, it is. Again, no-one is going to convince me that the SFA has conducted proper due diligence on Charles Green and his backers. No-one will convince me they are satisfied that this club is in safe hands, and that the game in this country will not be rocked by a further implosion at Ibrox. They failed to properly investigate Craig Whyte, because of lax regulations requiring disclosure from the club itself, regulations which are just a joke, but they can be forgiven for that as the press was talking sheer nonsense about him having billions at his disposal, and a lot of people (but not everyone!) were either convinced or wanted to be convinced by him.

To have witnessed what Whyte did, to have witnessed the Duff & Phelps “process” of finding a buyer, and having Green essentially emerge from nowhere, with a hundred unanswered questions as to his background and financing, for the SFA to have given this guy the go ahead, only for it to blow up in their faces later, would annihilate the credibility of the governing body and necessitate resignations at every level. There would be no hiding place.

At an early stage in the Rangers crisis, a couple of people told me they thought the club would not play football for at least a year. I told them of all the possible scenarios that was the most unlikely, because I honestly could see no way back for them once they had gone. There is no precedent I am aware of, anywhere, for a football club taking a “year out” only to return. Certainly, in the context of the Scottish game I didn’t see how it could be done without creating one almighty shambles, or by bending the rules until the elastic snapped.

Yet I’ve since become convinced that it was the correct course of action. The club calling itself Rangers FC is still in a state of flux. The issues still surrounding it are enormous and potentially devastating. There are any number of ways in which the entire edifice could utterly collapse. The liquidators and HMRC could yet challenge the takeover, or the coming share issue. Craig Whyte may yet emerge and take a claim to the courts. The share issue itself could be an utter failure, leaving the club unable to meet annual running costs. All of this, even without the vast effects of the EBT case, which has the potential to wash the whole club away.

Had Rangers been out of the game for a year, these issues could have been properly explored, dealt with and put behind them, and the game as whole.

Of course, it’s just possible that the worst is over. It’s possible that this particular nuclear detonation, like the one is The Sum of All Fears, is an enormous “fizzle”, that the appalling destruction unleashed will not be on the thermonuclear level which could obliterate our hopes of a fresh start, of forward motion for the whole game. It might be that everything at Ibrox is hunky-dory, that this, all I’ve written, is the product of a febrile imagination, on the same level as the financial Armageddon nonsense we spent the summer hearing about.

It may well be, but only if the people who’ve been right all along have suddenly gotten it wrong. The evidence all points to something big, and bad, coming this way.

The smart folks will be hunkering down in their shelters for a while yet.

James is a co-editor of the Famous Tartan Army Magazine, latest issue out 17th October (digital, and free), featuring women’s football

http://en.calameo.com/read/001382993b7dff7feed1b

About SFM
The Scottish Football Monitor is following the lead of RangersTaxCase in an attempt to hold the Scottish mainstream media to account and to question. If they do not ask the difficult questions, we will.

2,174 Responses to Three Shakes … and a Twist

  1. SouthernExile says:

    Humble Pie says:
    Sunday, October 21, 2012 at 16:46
    ———————-
    HP

    What a wonderful piece of writing.

    And the last course will be just desserts.

  2. Gym Trainer says:

    I seem to remember that HMRC generally look back 7 years – presumably that’s 7 years since they first look (ie. they first took an interest in RFC(IL)’s tax affairs in the 2008/9 tax year so would naturally go back 7 years to 2001/2.

  3. Agrajag says:

    HirsutePursuit says:
    Sunday, October 21, 2012 at 18:44

    ================================

    It was predicted to be fair, even the one called TSFM said that there were a lot of first time posters about and he / she was keeping an eye, particularly over the next few days.

    A mixture of obfuscation, distraction and trolling is to be expected.

    To quote from earlier “Remember trolling only works if you fail to ignore it ….”

    The thing to remember is that it won’t really change anything. The result of the FTT will come out as and when it does. The attempted IPO and share issue will happen if it does and will stand or fall based on whether the fans are willing to make a donation or not. Most importantly New Rangers will survive or not depending on whether the fans are willing to give Charles Green enough money to pay him and keep the business afloat until their next season tickets are out.

    If they do then fair play to them. It’s their money and they can give it to whoever they want. If not then the successor will go the same way as the old club.

  4. beatipacificiscotia says:

    HirsutePursuit says:
    Sunday, October 21, 2012 at 18:44

    I’m no troll, I can assure you. I’m a lifelong Celtic fan and Danny McGrain was my hero as a boy. No Troll can say that in black and white and retain their blue badge status! I come from a family of Hibs fans but seen Danny McGrain play in an excellent Celtic team, and that was me for life. I was a defender for my school and I wanted to be as good as he was.

    I do try to take an even view of things, and as far as I can see the RFC history will be the rope that Sevco Rangers hang from. They would have been better taking their time out the game and coming back new. I just wanted to hear other people’s thoughts on it.

    I can’t wait to hear the “ah but”, “ah wisnae sure” and “I didnae mean it like that” when the proverbial hits the fan.

  5. redetin says:

    Gym Trainer says:
    Sunday, October 21, 2012 at 18:59

    I seem to remember that HMRC generally look back 7 years – presumably that’s 7 years since they first look (ie. they first took an interest in RFC(IL)’s tax affairs in the 2008/9 tax year so would naturally go back 7 years to 2001/2.
    ____________________________________

    From the HMRC website:

    “However, HMRC can go back 20 years for an assessment where duty has been underpaid, or where HMRC has repaid more duty than is due, because of deliberate behaviour by the person concerned. “

  6. Gym Trainer says:

    Take a look at http://www.hmrc.gov.uk/manuals/chmanual/CH56000.htm

    They’re all different… for PAYE/Income Tax, VAT, Corporation Tax, Excise Duty (surely footballing is a zero duty activity?). Naturally these time limits currently notified are since 2009/10… older investigations would use the old limits (and in the case of VAT I don’t think there was a limit)

  7. redetin says:

    Gym Trainer says:
    Sunday, October 21, 2012 at 19:26
    ____________________________

    GT, any deliberate non-payment or absence of a reasonable excuse will attract a 20 year search on most taxes (and they will be all over your recent books). 🙂 Believe me.

  8. firpark says:

    Being a bit of a geek, I was browsing through the latest edition of XBox360 magazine, and came across the review of Pro Evoultion Soccer (PES) 2013. Under a min-section called “Did you know ?” was the following –

    “Last season Scottish team Rangers went into liquidation and started again as a new club at the bottom of the third division. As a result Konami chose not to licence them for PES 2013 – replacing them with Motherwell.”

    So it seems there are some print journalists who actually get it !!!

  9. angus1983 says:

    beatipacificiscotia says:
    Sunday, October 21, 2012 at 19:03

    I’m no troll, I can assure you. … I do try to take an even view of things,
    ——

    Me too – when I’m not engaging in nebulous guesswork, that is. Good on you for being able to detach and look at the bigger picture.

    Don’t worry too much – I’ve also felt the need to explain my background recently after I veered too close to the centre line. Hirsute is a decent chap – he must’ve misunderstood where you were coming from. There are certainly persons of the lapdog persuasion on here, though. Get on their wrong side and they’ll be constantly yipping at your heels.

    Another slow news day, then. 🙂

  10. Gym Trainer says:

    Hell yes, and so they should be – and they’ll spread their tentacles out to other “group companies”.

    Anyone heard from Sir Minty in person recently? I’d imagine his hoop is all a quiver.

  11. StevieBC says:

    So…

    If the FTT result is as expected
    &
    If that result is due to be made public in the next week or so
    &
    If Minty has any intention to spend time in Scotland in the future
    Then…

    Will we now be subjected to a carefully managed PR assault by Minty/Jack?
    Tightly controlled interviews ‘granted’ to compliant TV and print churnalists?

    Minty only has a short time left to get his spin out before the FTT result is made public.
    He can use his PR and Scottish MSM lackeys one last time… ? 🙄

  12. Long Time Lurker says: (+ Gym Trainer @ 19:54)
    Sunday, October 21, 2012 at 07:42
    ———————————————————————————————————————————-

    Apologies for the delay in the reply, LTL – just back from a lovely picnic in a field, under the shade of a Goldsworthy masterpiece. I’ll keep it short.

    This from one of Murray’s poodles in the Herald on Wednesday on Murray Capital – the runt of the empire that he has been allowed to keep.
    Quotes from a “Murray Capital Spokesman”……
    “We are investors for the longer term and will work with our management teams to secure exits at the appropriate time.”
    “The company has no bank debt with each investment financed on a stand-alone basis,”
    “The (Murray) family is now focused on building and retaining a legacy for future generations.”

    The author of the piece, Simon Bain, has done his best to wrap it in glitter, but the stark reality of Murray’s situation is there behind the hubris. I humbly suggest that (-S)DM© -and Jack, of course (hi Jack!) – is still the puppet master of news management in Scotland, but nothing else. He was a big fish in a small pond – but there are always bigger fish.

    Humble pie – chapeau.

  13. Humble Pie says:

    SouthernExile and TallBoy Poppy.

    100 thank yous.

  14. Brenda says:

    So slow today 😦 surely must be the calm before the storm…………please 🙂

  15. TallBoy Poppy (@TallBoyPoppy) says:
    Sunday, October 21, 2012 at 20:12

    This from one of Murray’s poodles in the Herald
    “The (Murray) family is now focused on building and retaining a legacy for future generations.”
    ——————————————————————————
    The legacy is already built and it is all too plain to see how future generations are likely to see it

  16. Danish Pastry says:

    Humble Pie says:
    Sunday, October 21, 2012 at 16:46
    100 0 Rate This
    Apocalypse – The End of History
    ———–

    I’m left not knowing my Horus from my Anubis! But a fascinating wander through ancient and modern symbols.

    You speak with great certainty of a final justice through these metaphors. I hope you’re right, because until now I’ve seen little evidence of it.

    Bravo.

  17. Long Time Lurker says:

    The remarks made by Jim Traynor made me curious as to the average number of pages in a FTTT published decision.

    Having looked at January 2012 FTTT decisions, 97 in total, the average page count per decision is 11.6.

    The highest page count was 95 and the second highest was 92. The lowest was 2. Most decisions are 3 – 8 pages in length.

    If Jim’s guesstimate non the page count is to be believed, this Tribunal will have had much to say about the use of EBTs by MIH.

  18. Danish Pastry says:

    A bit off topic but I thought the comments of Dave Jones (regarding the chanting and behaviour of Leeds fans the other night) carried a certain resonance north of the border:

    “If they – the decent, proper fans – just sit there and smile weakly, and look away, then this curse is going to spread and spread and we’ll be back into the bad old days. It feels we’re sliding back there already.”

    http://www1.skysports.com/football/news/11703/8184438/Sheffield-Wednesday-boss-Dave-Jones-still-angry-with-Leeds-fans-for-Chris-Kirkland-attack

  19. posmill says:

    Humble Pie – thank you sir – Chapeau!

  20. Long Time Lurker says:

    TallBoy Poppy (@TallBoyPoppy) says:
    Sunday, October 21, 2012 at 20:12

    I wonder how long Jack [Media House] will back a loosing horse.

    If the FTTT result and events to follow is as bad as some of us think that it will be, then (S)DM will more likely than not get a roasting from the media outwith Scotland. A heavily damaged client won’t be good for Jack’s next PR gig?

  21. Humble Pie says:

    posmill says:

    From the bard himself – an honour !

  22. Humble Pie says:
    Sunday, October 21, 2012 at 16:46
    128 0 Rate This
    Apocalypse – The End of History

    Enjoyed that immensely, thanks. Trusting your predictions will come true, in due course.

  23. goosygoosy says:

    On a slow day
    Some musings about the rascal who gave such fun
    Question
    Has Whyte really fallen out with D&P?
    If so
    What about? When? And Why?
    Here’s my take on it
    The story goes back to late 2010 when MCR was an Insolvency Business owned by Paul Clark. They were awarded a contract by RFC to assist CW during the preparatory phase of his acquisition of RFC for £1
    Verbatim Clark quote at press conference on 18 Feb 2012
    “D&P is a long established global financial advisory and investment banking business. It’s the world’s largest independent valuation firm. In the UK alone we employ in excess of 200 people. Late last year D&P acquired MCR a UK based restructuring and turnaround firm Both David and I were formerly partners of MCR.”
    “ MCR itself which was previously known as Menzies Corporate Restructuring was asked to provide consultancy advice to Rangers on the merger of the club late last year.”
    This is saying that RFC paid MCR for advising CW on the merger of RFC with Wavetower
    The reality, which is not disputed is that MCR were advising CW not RFC prior to the takeover. There was no merger of RFCV with Wavetower although that aim may well have been in the contract someone awarded to MCR on behalf of RFC
    It beggars belief that Advisors to the buyer of a company being sold for £1 were paid by the company being sold for £1
    But this apparently is what happened. Knowing the rates charged by D&P this assistance to CW from late 2010 to May 2011 must have cost RFC around £500k
    ,,,,,,,,,,,,,,,
    The next event was an approach from New York based Duff & Phelps to Paul Clark with the view to buying MCR and thereby expanding into Europe. It is normal in these circumstances for the US buyer to send a team over to examine the business they are thinking of acquiring. It is inconceivable that MCR would not disclose details of some of their current projects as evidence of how they carried out their business. It is also inconceivable that the US team would not question the propriety of MCR getting involved with the former disqualified Director Craig Whyte in buying a major brand name like RFC with the express purpose of profiting from its liquidation. So this must surely have been one of the issues which needed resolved prior to the acquisition being finalised. The most likely conclusion an honourable co like Duff & Phelps would do would be to secure a guarantee from MCR that the RFC prepack administration would be handled by the book and no side deals agreed with Whyte
    The first test of MCR`s “new and upright”stance came around Aug/Sept 2011. Inept Manager McCoist managed to exit both the CH and the Europa League. This caused a cash crisis which prompted Our Hero to withhold PAYE and NI from HMRC.
    MCR responded with “integrity or perhaps “deniability” and withdrew from helping Whyte liaise with HMRC. However D&P had clearly decided to continue working with Whyte as long as they were able to keep their hands clean
    ,,,,,,,,,,,,,,
    So in the lead up to Administration Whyte was withholding tax and dealing with HMRC on his own. He still believed D&P would become his chosen Prepack Receiver and ensure the liquidated assets were distributed according to his instructions.
    The prepack process commenced with RFC announcing they may have to go into administration. Presumably the plan was to wait another couple of weeks and then announce a prepack liquidation instead of announcing Administration
    Unfortunately HMRC has other ideas perhaps prompted by D&P at the instigation of their New York bosses. Hector moved for an immediate Administration by an Administrator of their choice. The Court agreed that Whyte could appoint his own Administrator if he could do so quickly.
    At this point Paul Clark made a fatal mistake. He knew an “Administrator” had different responsibilities from a “Prepack Receiver” and would not have the freedom to act in accordance with the original plan.
    But he also knew the Administrator role inside out and could clearly see opportunities to make a lot of fees by “playing it by the book”. He also knew MCR were compromised if details of the takeover arrangements became public Nevertheless he agreed that D&P would become Administrators of RFC
    This was a bad bad decision for D&P. Thereafter, they had no option but to clear all major decisions with New York. Meaning decisions like using a local media savvy co, avoiding press conferences, and distancing themselves from Whyte and the original plan at every opportunity
    The legal action by D&P to break the Ticketus contract was the first effort at double crossing Whyte
    However
    D&P could not progress any steps to sell RFC which require the consent of the owner. So all their actions with various buyers were doomed to fall apart if CW played hard ball. This may be the reason the Administration took so long.
    i.e. D&P were unable to sell RFC without the help of CW
    It looks like CW decided to sit it out until D&P(New York) became desperate. This desperation was driven by the knowledge that trying to sell RFC without the cooperation of CW was turning into a PR disaster.
    The fact that D&P UK were racking up fees, was now becoming a rod for their own back. These fees would eventually consume the entire Creditor pot. D&P desperately need to sell the business as a CVA or “going concern” to justify the fees they had accumulated. This would avoid the accusation that RFC could have shed staff and got more for Creditors by selling assets months previously
    But there were no buyers for a “going concern”…… i.e. a CVA
    The last straw was the Mark Daly programme which exposed the MCR conflict of interest
    D&P (New York) then faced the real possibility that their global reputation would be damaged if Clark, Whitehouse and Greir were found guilty of conflict of interest by the Insolvency Practitioners Association. The issue almost certainly gravitated to the Main Board of D&P New York It would have been a strategic concern of Corporate PR. I say this because the events which unfolded had all the hallmark of desperation. (A bit like the “Agreement” which solved the Miners’ Strike in 1971)
    In my view
    D&P New York took the decision to abort the RFC operation. D&P UK were instructed to do whatever deal they could with CW that got them out of the Administration role. The priority was escaping the media spotlight and minimising damage to the global reputation of D&P
    ,,,,,,,,,,,,,,,,,,,,,,,,,,
    This explains how Whyte and Green were able to squeeze ridiculous terms out of D&P
    Terms that achieved the following
    Green got all the incoming transfer fees for past deals
    Green got a rebate of up to £2.75m if any valuable players walked away
    The Ticketus deal would be allowed to roll over into Newco
    The CW and Close Leasing floating charges would transfer with the assets
    The SSC fixed charge over MP would transfer with the assets
    Green would become MD of RFC with immediate effect
    Green could renege on the deal at any time up to 31 July
    Fixed and floating charges would transfer to any Co nominated by Green
    The asset purchase agreement would take effect immediately the CVA was rejected
    The terms of the deal would be confidential
    ,,,,,,,,,,,,,,,,,,,,,,
    Then a bombshell struck
    Lord Hodge requested a report on the conduct of D&P during the takeover and afterwards D&P New York must have wet themselves at the implications of a UK Judge condemning the actions of their newly bought UK subsidiary. This challenged their global expansion into Europe via the UK
    What could they do?
    As a global business of integrity they had only one option which I fully expect to happen in the next couple of months
    i.e.
    Tell the truth and blame it on MCR.
    Fire the MCR naughty boys (Clark, Whitehouse and Greir)
    Offer full support to Lord Hodge for any enquiry
    State clearly that D&P New York would never have bought MCR if they had known about the 2011 actions of MCR
    ,,,,,,,,,,,,,,,,,,,,,
    Whyte has figured out the above and has concluded that he now needs D&P to be so discredited in
    their handling of the situation that Lord Hodge should seriously consider unwinding the Green Purchase Agreement
    If this happens we return to the status quo ante
    i.e.
    Whyte has a valid fc over the RFC assets and can claim Ibrox and MP in lieu of cash
    Ticketus are at the mercy of Whyte being forced to either sue a BVI Co or negotiate the rollover of the ST contract to any buyer of Ibrox
    Green is also at the mercy of Whyte if the purchase agreement is unwound. He may escape with the money raised from the IPO if he can rent Ibrox and MP from whoever owns the assets if and when the deal is unwound

  24. Long Time Lurker says:
    Sunday, October 21, 2012 at 21:34
    ————————————————
    Jack is untouchable, I’m afraid – too many friends in high places and names in his wee black book.
    Murray was nothing more than a barrow-boy with cold reading skills. Despite the damage he has inflicted on the game I believe there were others in his Court with a far more malevolent intent.

    That’s just my reading of it, anyway, and also out-with the remit of this blog.

  25. neepheid says:

    Long Time Lurker says:
    Sunday, October 21, 2012 at 21:34

    If the FTTT result and events to follow is as bad as some of us think that it will be, then (S)DM will more likely than not get a roasting from the media outwith Scotland.
    =====================
    This whole saga is of no more than passing interest outside Scotland. Sir David Murray is a total unknown in England. If RFC had been in the top flight of English football, the press would have been all over this story like a rash from day one, and I very much doubt that the perpetrators of this scam (because it is a scam, without a doubt) would have pushed their luck so far in those circumstances.

    But here in bonny wee Scotland, with a press corps who have been bought and paid for several times over by Sir David Murray, no questions are asked, and those who are running this scam just do as they damn well please, apparently with total impunity. The English press just aren’t interested, this all means nothing to most of their readers.

    Hirsute Pursuit and a few others seem confident that justice will prevail in the end. Let’s hope they are right. But sorry folks, personally I see no grounds for such optimism, and plenty of signs that the perpetrators will walk away, not only scot free, but with big bags of cash (yours and mine, in the end) into the bargain.

    I have experience of corporate insolvencies in England, and based on that, I find it simply unbelievable that any insolvency procedure could be conducted in the way this one has, in any country in the world that even pretends to operate under a rule of law.

    And so back to my favourite theme. Are RFC in liquidation yet? Are BDO investigating yet? No is the answer to both questions. So ask yourselves a simple question- why not? And the answer? Because our Scottish judiciary, at the highest level, have prevented the liquidation of RFC for over 4 months now.

    And while you are asking yourselves questions, try another- who has gained any benefit whatsoever from this unprecedented delay in liquidating RFC? Is it HMRC? No, try again. You the taxpayer? No. Blind justice? No. Sevco? Yes, got it in four. Sevco only managed to have the RFC membership of the SFA transferred to them because RFC had not already gone into liquidation, as they should have done weeks before. Otherwise it was the junior leagues for Sevco, since they couldn’t meet the requirements for a new member of the SFA.

    To my very simple way of thinking, 2+2=4. Sevco desperately needed a delay in the liquidation of RFC. What did Sevco get? A delay in the liquidation of RFC. I would be very grateful if someone could reassure me that such a delay in liquidation is not unprecedented. After asking several times already, I’m confident that it is unprecedented. So what I am supposed to make of that? Maybe the courts will void the administration, take D&P’s fees away, cancel the property transfers, etc, etc. Or more likely nothing of the sort. It really, really stinks.

  26. SouthernExile says:

    @TBP

    You’re such a tease!

  27. willmacufree says:

    Neepheid @ Sunday, October 21, 2012 at 23:13

    Neepheid, I have the terrible feeling you may be correct. The question then arises, why?

  28. midcalderan says:

    goosygoosy says:
    Sunday, October 21, 2012 at 22:32

    On a slow day
    ————–
    I could believe it.

  29. Senior says:

    ‘Those employees are entitled to confidentiality and privacy (Mark Daly bad) no matter how you view the morality of their participation in a tax avoidance/evasion scheme.It was the tax due by RFC under PAYE that was in dispute.Not the employees’

    At least not for the moment..

  30. Senior says:

    Sunday, October 21, 2012 at 23:41

    We await to see BDO’s attitude to the larger benficiaries of the EBT scheme.

  31. Just finished watching the Trump golf course documentary on BBC2, powerful stuff, anyone else catch it? You might ask just why I’m posting about it on here but I found it quite noticeable just how amenable those in power and the media are towards brash rich businessmen with big ideas (some might say moonbeams) and who don’t give a damn about any collateral damage.

    It reminded me of a certain Knight of the realm and a certain section of the scottish media that we all know and loathe!

  32. HirsutePursuit says:

    neepheid says:
    Sunday, October 21, 2012 at 23:13
    3 0 Rate This
    ===========================
    I think there is some room for optimism – but only because I believe HMRC have their eyes on the EPL and want to set a real marker.

    BDO will be given a wide-ranging remit to investigate (and challenge where necessary) D&P’s conduct in administration. Normally, what restricts the work of the liquidators is that there is no obvious source of funding for their fees. The appointment of Malcolm Cohen is IMO particularly significant. From that alone I think HMRC really do want BDO to forensically examine what has transpired and are prepared to fund it.

    The end-game is still some distance away – because they have a lot of peculiarities to examine; but, I do expect their involvement will open up a significant new chapter in this drama. BDO’s enquiries will, I believe, quickly leave a number of people unable to give to give convincing answers to some fairly straightforward questioning.

    How it all eventually pans out, I don’t know; but there are any number of hurdles to overcome before I’d be convinced that the new Rangers will finish this season.

    For the avoidance of doubt, I make no allegation of criminal behaviour by any person(s).

  33. doontheslope says:

    Neepheid

    Good post. But you do realise that if you are correct in your assertion that there is corruption at the top of the judiciary, you just unearthed quite a few trolls on here! (smile)

    When someone comes on here posting, almost indignantly, that we need not even think about questioning the integrity of the judiciary, I feel like I have committed a grievous offence for having even entertained such ‘bad thoughts.’

    The pattern of behaviour from the Law Lords should be scrutinized on here.

    I’m certainly starting to question what ever happened to the Law needing to be SEEN to be done?

  34. SouthernExile says:
    Sunday, October 21, 2012 at 23:19
    ————————————————–
    It’s certainly not my intention, SE, and I’m not trying to pretend that I have any insider info.
    If I’m sounding like I do then I apologise for misleading you and everyone else. It may be my presentation, but that’s a matter of style over substance.
    There is plenty of information available if you want to track it down…it’s just a question of fitting it all together. And, as you can imagine, there is a lot of information to track. It’s only now, with the benefit of hindsight, that old info suddenly becomes more relevant and can finally be put in it’s place.

    When I first became interested in Murray about six years ago there were a few others on his trail – but not many. There are several contributors on here that have obviously read the same material, but this blog has a distinct and narrow focus – which should be respected.

    Nowadays I actually feel sorry for (-S)DM©. He’s ended up being in his worst nightmare. His
    monument will be Scotland’s Watergate. The real black hearts with the black arts were folk like,
    in no particular order: Alastair McCoist, Walter Smith, Ogilvie, Dallas, Dingwall and his type, Masterton, Gordon Smith, John Irvine, Grossart. (Others would add their own influences according to their specialist interest)
    Take their malignant influence away and Rangers (and Scotland) would now be in a much better place – no matter how modest their League position.

  35. john clarke says:

    neepheid says:
    Sunday, October 21, 2012 at 23:13

    ‘..But here in bonny wee Scotland, with a press corps who have been bought and paid for several times over by Sir David Murray, ..’


    No, with respect, they are not mercenaries in the usual meaning of the word.

    Some of them do it out of totally blind, unthinking but distorted love for the club and what it stands for..

    Others,even the more ‘decent’ guys like Archie, and Roddy, and Britney, are like the submariners in ‘Das Boote’:

    They claim to hate having to do the ‘sieg heil’ for the bast.rds that destroyed their club, in the same way as the crew ( or at least the officers) of the U-boat had disdain for the Nazis.

    But their emotional empathy with the rogue club leads them

    to seek justification of that club’s wrongdoing,

    and to claim that the club was in thrall to madmen, who did bad things to it as Adolph did to the Fatherland,

    but that it must nevertheless be protected and defended against the attacks of its ‘enemies’.

  36. doontheslope says:
    Monday, October 22, 2012 at 00:26
    —————————————————

    Is that a Speculative post there, doontheslope? 😀

  37. doontheslope says:

    More speculative than spectacular, I’d say. (smile)

  38. neepheid says:
    Sunday, October 21, 2012 at 23:13

    ==========================

    “Because our Scottish judiciary, at the highest level, have prevented the liquidation of RFC for over 4 months now.”

    —————

    Aye

    Men/Women! ; think Pulp Fiction guys/gals! Trust me-athiest!

    Revolutions don’t work!! 😉

    John. (I wish my sarcastic wink could be inventented …. now) ;

  39. bogsdollox says:

    tommythehat says:
    Sunday, October 21, 2012 at 16:07

    You may disagree but you would be either delusional or telling porkies.

    Jim Traynor’s laughable recent tv appearance (Note- Jim even washed AND ironed his usualy otherwise crumpled and food/sweat stained shirt too!) after TGEF showed his face–eyes a’ bulging and with that wacky accent. I was thrilled to see him back–and many good folk here and from RTC have been saying he was still very much relevant–but his brilliantly timed reappearance seemed to have caught some of the rogues out–and sitting on Newsnicht desperately trying to defend Sir Minty is despicable. Why did Newsnight question a hack, when the hack in question is now widely famous for being ‘the most succulent lamb..’ king of sycophantic journalism?? This was even demonstrated when the interviewer had a dig at Traynor–bloated Jim is known to be a Minty lickspittle by even Newsnicht journo’s–and is proud of it probably–but it’s only showing Jim for nothing more than a Murray PR instrument. Thats quite apparent to most of us, it’s just the DR’s prime demographic that are deemed too stupid to see the conflict…and the BBC apparently…

    Jim, it’s not your job to be on Newsnight defending Minty. Your supposed to be the one calling Minty, hanging about his house and offices and those of certain others to harvest opinion on TGEF’s claims, then sensationalise it all before publishing it and selling lots of papers on the back of the senastion. Simple really yet nothing from yourself or your rag of a paper. Never. It makes you wonder if Jim has a more concerning role within the Great Govan Train Crash and I wouldn’t bet against Jim being the recipient of a Minty EBT either–how well would this go down with Mirror Group shareholders, if such were to be the case? What about the BBC??

    If this clown is not on the brown bag pay-list of Minty then I will eat my metaphorical hat.
    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++==

    On “Your Call” on Saturday night Cosgrove actually asked Jim if he had ever received payment from Rangers and in JIms rude and not at all admired style he turned it into a joke by saying that they were more likely to pay him to stay away from them.

    In true Traynor style, when he is struggling with a topic, he attempted to deflect matters further by rambling on about how he never even got paid by Airdrie when with them on an “S” Form and that was why he left. Of course as we all know the “S” form was a contract that tied schoolboys to the club in the hope of being taken on and no payment was involved. So again Jimbo has got it wrong

  40. Great night out! Sorry folks! :!

    TSFM …. that was a good kick of the baw!

    CAMPBELL O ????? ;

  41. Long Time Lurker says:

    neepheid says:
    Sunday, October 21, 2012 at 23:13

    I agree with HirsutePursuit says:
    Monday, October 22, 2012 at 00:26 in that from the UK media perspective, after the initial fall out of from the story, how HMRC makes use of the FTTT decision to pursue other companies across the UK including other football clubs in the EPL and perhaps other divisions, will help to keep RFC and (S)DM in the public eye.

    I get the sense that AT will also keep the story going, as he is interested in the failing of corporate governance. His forward in Downfall, compares RFC with the failure of RBS and the lack of oversight from the Bank of England is equated to failings in the SFA.

    In addition, Only an Excuse may be funny this year 🙂

  42. Brenda says:

    Wonder what ‘big story’ the msm will use to cover the announcement of the FTT result? I really hope we don’t miss it!!! 😉 😉

  43. donsfan says:

    Brenda says:
    Monday, October 22, 2012 at 08:38
    0 0 i
    Rate This
    Wonder what ‘big story’ the msm will use to cover the announcement of the FTT result? I really hope we don’t miss it!!!

    ____________________________________________________________________

    Levein sacking of Scotland maybe!!

  44. Palacio67 says:

    Brenda, donsfan

    Maybe tomorrow night after the ‘shock’ of a possible defeat for Celtic In Barcelona?
    Massive front and back page headlines on the game with the FTT result at the foot of page 5 in the smallest caption ever?

  45. Danish Pastry says:

    bogsdollox says:
    Monday, October 22, 2012 at 01:15
    10 0 Rate This

    On “Your Call” on Saturday night Cosgrove actually asked Jim if he had ever received payment from Rangers and in JIms rude and not at all admired style he turned it into a joke by saying that they were more likely to pay him to stay away from them.
    ————————–

    Mr Traynor did seem remarkably au fait with the details of the FTT announcement. But that could have been his own fiction. He was still pushing the ‘Arsenal got away with it’ and ‘Rangers are just being made an example of, since their offer to settle was rejected’ lines. After listening to him you could almost believe that RFC are the innocent victims in all of this.

    I actually used to enjoy his Paper Talk programme on Monday nights but on this story he’s become a bit of a muttonheid.

  46. timtim says:

    Traynor spinning like a top

    SAY what you like about Craig Whyte.

    You can call him all the names under the sun but the one thing he isn’t is shy.

    Well, not when it suits him. And not when £1million is at stake.

    Despite being as elusive as a Rangers away win he felt compelled to set the record straight about his brief but destructive time as owner of Rangers.

    BBC Scotland were granted an interview. It was car crash TV.

    Here was a man, his credibility and character shredded, appealing for sympathy and
    understanding. It was a bit ambitious.

    A bit like Andrew Mitchell, who was forced to stand down as Tory chief whip last week, trying to gather support and friends in the Association of Chief Police Officers.

    Even so, I must admit there were moments in that interview when it was impossible not to feel sorry for Whyte.

    When he squirmed, or seemed to be searching the corners of his mind for answers to some difficult questions, he looked as though he might break down and start weeping.

    Only a person of the most callous nature could have watched it and not felt something for Whyte, whose wide-eyed stare suggested terrible internal turmoil.

    But then you discover how much he is still trying to squeeze out of Rangers and reality comes crashing back into view.

    According to Ibrox sources Whyte, who bought the club for £1 and who borrowed just more than £20m against future season-ticket sales, expects Charles Green’s consortium to pay him £1m.

    Whyte must have forgotten about that, and the request for six seats in the directors’ box plus four members’ tickets for life.

    The demand was kicked out by Green and other directors.

    It is believed the request was made to one of the main figures involved in the buy-out and there was outrage when it was put to Green and other directors.

    They were astounded by the former owner’s audacity, although one suggested it might have been interesting to see if Whyte would have had the gall to have turned up in the directors’ box.

    Rangers fans don’t want him anywhere near Ibrox and will be outraged that he thinks he’s due a penny never mind a million quid.

    Of course Whyte might have been encouraged to seek payment because he was promised large sums by some of the other groups who tried to buy the club.

    The Blue Knights, for instance, were prepared to pay him £500,000 but Green has no intention of giving him anything more than the £1, actually £2, he has already handed over.

    Even Green’s group may have been forced to pay up at a point in the takeover process when Whyte’s share holding was required.

    However, administration and then liquidation changed everything and Whyte became irrelevant, although by going to the Beeb he might have thought that somehow he could sway public opinion.

    He really is out of touch. Some might say delusional.

    But there he was, this baffling, complex but
    ultimately unreliable little man still trying to convince the world he didn’t do much wrong.

    It wasn’t his fault, he seemed to be saying. He was doomed to failure with Rangers because of the deeds of others before him.

    Yet, by the time he was ready to hand over his £1 to David Murray he would have known everything about the club and, by his own admission, he was aware Rangers were likely to suffer some kind of insolvency trauma.

    So why enter into that ridiculous deal with
    Ticketus, which he denied until RecordSport
    uncovered the documentary evidence, just to captain a sinking ship?

    My own view is that he thought a ruling on the Big Tax would be made within weeks of his takeover and he would be able to put Rangers into administration blaming David Murray’s use of EBT to help pay players. But Whyte didn’t reckon on the verdict being delayed, which meant he quickly ran out of money.

    He stopped paying bills, especially PAYE and National Insurance and, of course, HMRC allowed that situation to worsen when they should have taken swift action.

    Had they done so they’d have saved all those small companies, who continued to trade with Rangers, money.

    Hector might argue that his lot agreed to repayment plans, which would have seen Whyte pay lump sums of £300,000 to £500,000, but they must have known he wouldn’t pay up.

    In fact, one of Duff and Phelps’ senior men, David Grier, was liaising with them and keeping them up to speed about what was going on within Ibrox.

    They knew but they allowed this farce to continue.

    He said that around August last year it was clear the money was all but gone – he’d made the mistake of relying on
    European income – and that it was impossible to secure further funding because of the tax liability.

    It seems to me Rangers must have been trading while insolvent and isn’t that a crime of some sort in the financial world?

    Of course Whyte should never have been given the club by Murray but he was and it was his chaotic reign that put them down.

    Without the huge cloud cast by the EBT case, for which Murray must accept
    full
    responsibility, the Ibrox club might have been a more attractive
    proposition.

    But Whyte believed he could profit from the purchase and it remains to be seen how much he made.

    Hopefully that will be revealed when the legal investigations have been concluded.

    It is believed the ruling on the tax case will be
    delivered within days but even if it favours HMRC they won’t get any money.

    The football company associated with EBT no longer exists and you have to wonder why the tax authorities didn’t take the £11m settlement fee offered to them a few years ago.

    The amount of tax owed was just under £30m but with penalties having been added the amount may be running 65 per cent higher.

    There will also be a National Insurance bill which could take the total to near £70m but all they’ll be left with is a precedent.

  47. timtim says:

    So why enter into that ridiculous deal with
    Ticketus, which he denied until RecordSport
    uncovered the documentary evidence

    The football company associated with EBT no longer exists

    Of course Whyte should never have been given the club by Murray but he was and it was his chaotic reign that put them down

    He stopped paying bills, especially PAYE and National Insurance and, of course, HMRC allowed that situation to worsen when they should have taken swift action.
    Had they done so they’d have saved all those small companies, who continued to trade with Rangers, money.

    it was impossible not to feel sorry for Whyte.

    Where do you start with this buffoon ?

  48. bawsbustedanatha says:

    Just back on. This has probably been posted. Courtesy of PMac site. As he says, “The truth’s starting to get out there!”

    http://www.bingowonga.com/bingonews/8008/bingo-club-boosted-by-stoke-city/

  49. taxlawplebeian says:

    donsfan on Monday, October 22, 2012 at 08:43
    3 0 Rate This
    Brenda says:
    Monday, October 22, 2012 at 08:38

    Levein sacking of Scotland maybe!!
    —————————————–

    It would need something of that magnitude, a one man marauding army to keep FTTT off the front page!!!!!!

    I’ll get my coat!

  50. thebasharmilesteg says:

    He really is out of touch. Some might say delusional.

    – Is he talking about himself?

    But Whyte didn’t reckon on the verdict being delayed, which meant he quickly ran out of money.

    – aided and abetted by the performance of the worst manager in the team’s history.

    It seems to me Rangers must have been trading while insolvent and isn’t that a crime of some sort in the financial world?

    – Been reading this blog Jim? BTW a crime is a crime, it doesn’t matter whether it’s in the financial world or any other “world”.

    It seems the verdict of oor Jabba is that Hector is to blame – could have taken the £11m when offered, didn’t wind the basket case up sooner, blah, blah. Classic big boy did it stuff.

    You are right, he is spinning like a top, spraying bullets in all directions in the hope that one will find a target.

    How about yourself Jim? A bit of proper journalism a lot earlier in the is saga – isn’t that what you get paid to do?

  51. timtim says:

    Monday, October 22, 2012 at 09:25thebasharmilesteg says:

    Monday, October 22, 2012 at 09:41

    As I posted last week when TGEF returned!

    Traynor passing comment on Whyte is the equivalent of Baron Munchausen critiquing Walter Mitty

  52. Danish Pastry says:

    taxlawplebeian says:
    Monday, October 22, 2012 at 09:32
    2 0 Rate This
    donsfan on Monday, October 22, 2012 at 08:43
    3 0 Rate This
    Brenda says:
    Monday, October 22, 2012 at 08:38

    Levein sacking of Scotland maybe!!
    —————————————–

    … a one man marauding army to keep FTTT off the front page!!!!!!

    I’ll get my coat!
    ———————-

    🙂

  53. spanishcelt says:

    Agrajag says:
    Sunday, October 21, 2012 at 16:42

    That’s a thought, and talking of “short selling” I believe you chaps call it.

    Assuming Rangers shares sell for £1 (just to make it easy) on day one, how much do people think they will trade at after say 2 or 3 days.
    ………………………………………………………………………..
    While I am no expert I have a little experience of trading options and now and again what looks a dead cert “put” come along and IF “The Rangers” ever come to market this is surely one.
    They seem to have already issued I think 22million shares to investors, they are trying to sell a further 20million plus and have also mentioned this being the “FIRST” issue, Green is to be given 10% of shares in the new company which must mean at least 50million shares be issued.

    This would give them a supposed market valuation of probably over 50million pounds where Celtic by comparison have a market cap of 33.9million which is a 52 week high.
    Now, thats with Champ league football, Spl season ticket pricing, Spl tv money, prize money and strong branding and merchandising deals already in place, PLUS a squad of high value international players.
    The Rangers have already brought on most of their revenue for the season apart from some extra gate money(exlcuding thousands of free tickets given out for each home game) no European money for AT LEAST three years, piss poor prize and tv money from SFL, Ibrox still with millions to be spent on it regards Asbestos and general repairs, player pool with little values and running almost certainly at a loss.

    Based on just those basic facts I would suggest these shares within days (if not hours) will be in the mid to low teens and lose at least 80% of their value..

    Anyone brave enough to deal in the option market and risking say 5000 sterling icould buy 50.000 put options at 10p each with the right to sell at 1.00 each and IF they crashed to 15p they would make over 30 grand for their 5000.

    Of course they might not fall or only fall slightly and you lose your 5 grand!

  54. neepheid says:

    john clarke says:
    Monday, October 22, 2012 at 00:33

    No, with respect, they are not mercenaries in the usual meaning of the word.

    Some of them do it out of totally blind, unthinking but distorted love for the club and what it stands for..

    Others,even the more ‘decent’ guys like Archie, and Roddy, and Britney, are like the submariners in ‘Das Boote’:
    ============================================

    There are more and subtler ways of corrupting the press than dishing out the brown envelopes. Lavish hospitality is one way, once people have been wined and dined by you a few times (and suitably flattered, of course) a relationship is formed, based on gratitude for access to a sophisticated milieu that most of these hacks couldn’t even dream of. Christmas gifts, anyone? The odd side of wild salmon, a bottle or two of 25 year old malt, you know the sort of thing.
    I do wonder if our newspapers maintain a hospitality register, to record who got what and when?

    Now I’m not oblivious to the tribal loyalty element, the “Das Boot” syndrome you describe. But there is more to it than that, because the blind loyalty here is not so much to the club, as to Sir David Murray personally. These journalists have, on the face of it, no reason whatsoever to owe any loyalty to Murray, quite the opposite in fact for those who are “Rangers Men”, or part of the “Rangers Family” as Green so nicely describes it. The truth is that our press corps, almost to a man, aren’t just simple Rangers Men, in denial at what has happened to the club they love, they are in fact “Murray Men”, and exhibit a blind loyalty to him personally in the face of all and any evidence.

    They then carry out their duties as journalists in a way that buries the truth rather than uncovers it, and all in the service of one man’s interests. Can you explain that in terms that do not include the word corruption? This goes to the very heart of what is wrong here in Scotland. Our national press are simply a conduit for press releases emanating from one man, Sir David Murray. No questions that might embarass the great one, no investigation of the facts, just regurgitation.

    What hold does Murray have over these people? Don’t tell me it’s emotional, please! And if it isn’t emotional, what is it? I doubt it’s violence, so we are back, one way or another, to money.
    Any “normal” owner of Rangers, with a “normal” relationship with the media, would be swinging in the wind right now, the media would have strung him up so high. So what’s the difference with Sir David? Why are the press tiptoeing around him, when they aren’t actively peddling his agenda? Can anyone enlighten me? Because until they do, I think I’ll stick with the obvious.

  55. Parson St. Bhoy says:

    From the man with the wee white bricks aka PSA. Make of it what you will.

    NEW TURKS AND CAICOS LINK TO RANGERS

    THE man at the top of the company of spin doctors who practice their dark arts on behalf of Rangers is Jack Irvine.

    Jirvie, as he is known in the old inkry trade, is a former editor of the Sun in Scotland and usually bases himself in London where the real movers and shakers are, leaving the Rangers fire fighting to his Media House right hand man, Ramsey Smith.

    But my grapevine has been buzzing and the jungle drums have been beating about Jack Irvine’s recent movements.

    For right now Jack Irvine is in Dubai, where there are believed to be links to some of the men who own Rangers.

    A coincidence?

    Maybe!

    But where was Irvine before he headed for Dubai?

    I can reveal he spent a few days in the Turks and Caicos Islands on business. And a piece in the main edition of the Times of London revealed on Friday, that is where it is believed major players behind Rangers are based.

    The Times of London named Margarita Funds Holding Trust as the second biggest investors in Rangers with a 2.6m shareholding, which in monetary terms converts to £1.3m.

    And where are Margarita Funds Holdings Trust based?

    Well, according to the Times of London, they are based in the Turks and Caicos Islands.

    A coincidence?

    What? Again?

    I’ll let readers make up their own minds.

    What I do know is that Jirvie is a very good man at hiding behind smokescreens and the published purpose of his visit to the Turks and Caicos Islands is to help with the campaign against proposals to start charging VAT there.

    But has wee Jack been killing two birds with the one stone? Has he been about Rangers business too?

    All will be revealed, as it always is.

    Just as today I can reveal that the two spin doctors employed by Craig Whyte during his takeover of Rangers, Ian “The Molecatcher” McKerron and Gordon “Jocky” Hay – the guys who told media men to describe Whyte as a billionaire – are now believed to be working on behalf of the SNP’s separatist bid to split the United Kingdom.

    Whyte, himself, has been back in the news in the aftermath of his BBC Scotland interview with Chris “Scrote” McLaughlin.

    The shyster, trickster conman – Whyte not Scrote – has been claiming that when BDO move in and start the liquidation process of the Oldco, they will find that Whyte still has a holding charge over Rangers three main assets, Ibrox Stadium, the Albion car park and the Milngavie training complex.

    These three properties formed part of the sale, for £5.5m, of Rangers to the current consortium by under investigation administrators, Duff and Phelps.

    Oh, what a tangled web we weave…..etc…….

    The Whyte-David Murray-Duff and Phelps-saga still has a long way to travel. And it is a twisting road it will meander along with an ending which, I believe, will leave somebody hearing the gates at the Bar L clank shut behind them.

  56. Brenda says:

    I would love Celtic to beat Barca ( I know I know ) and stranger things have happened 🙂 do you think the msm are ‘hoping’ Celtic get a good result, that way they can fill the front and back pages with this ‘exclusive’ story, hide the FTT news and it also saves them the hassle of sacking Levein 😉

  57. rustyploughbhoy says:

    A Simple Appeal,

    Dear all , I (a simple engineer) have enjoyed the education that i have received both here

    and before on RTC from all the Legal Eagles & the Beancounters that have contributed so

    well during this long drawn out affair, even if a lot of the info went over my head.

    May i ask that when the FTT Result is published , can some kind sole translate the

    important parts into Laymans Terms Please. I am sure that there are many more people

    following this site that would greatly appreciate this. (including some members of the press)

    Thankyou All.

    In justice we trust.

  58. rustyploughbhoy says:

    Monday, October 22, 2012 at 11:01

    Perhaps RTC will return with a guest blog explaining the detail and anonymised report!

    Rangers Tax-Case‏@rangerstaxcase

    The findings will leave no doubt that RFC employed an illegal tax scheme to pay players & staff. Anonymised report will need “translation”

    20 Octchris shields‏@chrisshields10

    @rangerstaxcase Know anyone who speaks fluent Anonymise?! lolz

    20 OctRangers Tax-Case‏@rangerstaxcase

    @chrisshields10 I am taking a Berlitz immersive learning class. 😉

  59. monsieurbunny says:

    timtim says:
    Monday, October 22, 2012 at 09:25
    6 7 i
    Where do you start with this buffoon?
    —————————————————-
    How about just addressing the points where he gets something right/tells the truth.

    Save you a hell of a lot of time. 🙂

  60. wjohnston1 says:

    Am I not correct that one of the conditions to grant a licence to Sevco by the SFA was that as soon as the FTT decision was made known to them that they are required to pass a copy immediately to the SFA. Sometimes my memory plays tricks but I am pretty sure that was in there.
    If correct, I wonder if anyone from our MSM has thought fit to ask CO if he’s got it yet?

  61. paulsatim says:

    RTC and Britney tweeting at each other,

    Graham Spiers ‏@GrahamSpiers
    For those in doubt: the SFA have legal contingencies in place if any substantial Charles Green/Craig Whyte link emerges at Rangers.
    Expand
    4m Rangers Tax-Case ‏@rangerstaxcase
    @GrahamSpiers Now you have my interest. I don’t suppose you can share details & grounds for suspicion?

  62. tilhotdogsbark says:

    wjohnston1 says:

    Monday, October 22, 2012 at 11:34

    I may have missed something, but why would Sevco be issued with a copy of the determination?

  63. tilhotdogsbark says:

    Monday, October 22, 2012 at 11:42

    wjohnston1 says:

    Monday, October 22, 2012 at 11:34

    I may have missed something, but why would Sevco be issued with a copy of the determination?
    ———————————————-
    They wouldn’t be. Of course D&P would probably keep CG in the loop!

  64. doontheslope says:

    Paulsatim

    Graham Spiers – “For those in doubt, the SFA have legal contingencies in place if any substantial Charles Green/Craig Whyte link emerges at Rangers.”
    ————————————————-

    I have no doubt they have such contingencies.

    Like they did when Sevco didnt have three years of accounts, and were rightly excluded from Europe, but incredibly managed to get into Scottish football.

    Like when they were illegaly granted a licence to play in Scottish football.

    Like when they were allowed to play unregistered players.

    Like when they were granted a licence to play in Europe last year.

    Of course the SFA have contingency plans, one of which does not include kicking the club out of football for a number of years as they deserve.

    None of us are in any doubt that there are contingency plans, Graham, so dont worry your wee head about it.

    But for us ‘doubters’ maybe you could track down Walter or Mr Sounness and ask them about EBTs. Or maybe you could ask Campbell Ogilvie what on earth justifies his position at the SFA, outwith making contingency plans to help Sevco, of course.

  65. ianagain says:

    And heres Mr Charles retraction. The bears are really nice people – now I need their money.

    Monday, 22 October 2012 11:50 Green Clarifies Death Threat Comments
    Written by Rangers Football Club

    Rangers Chief Executive Charles Green has issued the following statement today.

    “In remarks attributed to me in today’s Scottish Sun I was trying to get across how far we have travelled together since the dark days of the Club being put into administration and subsequent liquidation of the old company.

    “No words can express the gratitude I feel towards Rangers fans at the way they have stood by the Club in one of its darkest hours.

    “They have risen to the challenge of helping rebuild this great institution and have won widespread admiration across the world for their backing of Rangers.

    “Not a day goes by without foreign TV stations or journalists telling me how amazed they are by the response of fans as they continue to back the Club in huge numbers.

    “The reality is there were a few occasions in the very early days where I was clearly not the flavour of the month among some sections of the fanbase and I was subject to taunts and abuse.

    “However, that was short-lived and the fans are now behind me and the board and we have all moved on together.

    “I just want to make it clear that I believe Rangers fans are the best in the world and that is my heart felt position. I appreciate the article in today’s Sun has upset some supporters and for that I am truly sorry. As I stated, I was merely trying to illustrate how far we have all come together.”

  66. paulsatim says:

    doontheslope says:
    Monday, October 22, 2012 at 12:15

    also the use of the word “substantial”, that kind of leaves it open to interpretation, too!