With the Scotland v Slovakia game and its thrilling denouement providing the usual rollercoaster, few would have taken pause to check today’s listings at The Court of Session. However when it comes to career criminal Dave King being brought to book, The Sitonfence Speakeasy will never rest:
THE COURT OF SESSION
FRIDAY 6th OCTOBER
P341/17 Pet: The Panel on Takeovers & Mergers for Orders Sec955
Thursday 12th October
P341/17 Pet: The Panel on Takeovers and Mergers for orders sec955
Maclay Murray & Spens LLP
Those of my readers who follow the court’s listings as assiduously as I do will note that this petition has already been rubber stamped by Lady Wolffe on 6th June. It’s good to go.
Today’s unstarred preamble will merely get ducks in a row.
The Takeover Takedown (jj passim) will move up a gear on Thursday of next week.
Let’s be clear about this. King has pissed off a lot of people in the City. He’s an uncouth, uneducated career criminal who has made his way in the world by lying and cheating. He has engaged in bribery and witness intimidation. When being passed ‘fit & proper‘ by Regan’s nodding dogs he was bound by a suspended sentence of three months for being in contempt of court.
King confuses being ‘ gallusly wide‘ with business acumen. He had the audacity to state that he had no executive authority over NOAL despite using this corporate vehicle to call an EGM and oust the former board. If Lite were in the frying pan under David Somers and The Easdales – the last professional board – then they are now in the fire.
King knows he’s going down. He will be ordered to make an offer of 20p for all shares that are not within his concert party’s gift. He will be ordered to do so within a specified time period. I anticipate one month, possibly two, in the highly unlikely event that he issues a prospectus. Let’s call this prospectus ‘The Flying Pig.’
King will not comply. He will expound on a narrative that South Africa’s exchange controls tie his hands. They did not tie his hands when he was decimating the share price and picking up his equity for a song. Who could ever forget dear Charlotte Fakeovers. Paul Murray and Slim Shady Traynor should also be brought to book.
King will be stripped of holding any executive position in a UK plc when he is in contempt of court. If the board don’t keep King at arm’s length, the Sevco project that is already taking on water, will go under.
I’m hearing rumours of a Rangers III and an old face making a grab for the distressed assets. There is nothing more incorrigible than a Real Rangers Man.
I also noticed that SFA Lickspittle Stewart ‘Move On‘ Milne’s group is also engaged in litigation. One can but hope that his nose is put out of joint.
In other Rangers news BDO are continuing to pursue Duff & Phelps on behalf of the club’s creditors. The Rangers’ liquidators have spent so much of the pot on litigation that only 3.91p in the pound is currently on offer. Any additional payment will be predicated on taking Duff & Phelps to task.
The Continuation Jihadists would have us believe that Rangers still exist. They only exist as a file in Canary Wharf. Once this file is archived Rangers will be as finished as King.