The Cold Shoulder

There is a chilling wind on its way from 10 Paternoster Square in London. As it picks up speed over Hadrian’s Wall one anticipates any remaining hubris at Ibrox being decimated by wind shear. One could almost excuse our three ursine friends if they went into hibernation to avoid the King fallout.

The Cold Shoulder is a force to be reckoned with. The tsunami of financial problems heading King’s way will make his day-to-day pariah status seem like a summer breeze. One eagerly awaits The Makeweight Messiah being subject to a corporate crucifixion. Stocks and old fruit would be too lenient for King.

 

The TPE are trying to pin King down and bring his reign of corporate carnage to an abrupt end. King’s victims include Umgeni Water, Specialist Outsourcing and four of the six major clearing banks in South Africa. His latest bent enterprise, MICROmega, is a concert party of lies and falsified returns. King has stepped down from his board, as he has periodically done in the past when facing a slew of criminal charges, to offset the brunt of the TPE onslaught.

King’s crimes are not victimless. His merciless solicitation of funds from an orphanage, with King in the guise of an independent financial adviser with an accountancy qualification, was a heartless confidence trick. They were burned by King and now spend their days scavenging landfill sites. But then they are black kids; King does not give a flying fuck for native South Africans.

Our career criminal has an ace up his sleeve. His shell game corporate vehicle, NOAL, has loaned £3.7m to RIFC. This quantum is repayable on demand. Does it come as a surprise to anyone that King, whose counsel described as penniless, can provide a loan of this quantum? One can but hope that the TPE continues to follow our site.

Keeping King at arm’s length to avoid Cold Shoulder collateral damage has suddenly become a rich man’s game.

As the SS Administration steers a course to Govan docks again, is it heartening to note that King has a strategic creditor lifeboat? A dilemma now looms into sight for our ursine friends:

Does one stick with King and keep the £3.7m on the back burner and twist to face the full force of financial ignominy and pariahdom?

Would King be prepared to leverage his strategic creditor status to scuttle the ship? If he is isolated by his board and if they refuse to pick up his legal fees, he can take them all down with him.

This is all coming to a head. I hear whispers that the accounts have been prepared but are being withheld to add a gloss to them. Grim reading would be grist to the mill for scavengers such as Sir Bribe & Lie.

Would King be prepared to front an AGM with a Cold Shoulder in full swing? I doubt that even he would be that stupid. The SMSM are bending over backwards to bury the latest ‘obstacle’ in the path of the career criminal. However the hapless hacks could not cover up the conspicuous absence of the Makeweight Messiah.

 

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15 thoughts on “The Cold Shoulder”

  1. If we work to the scenario that he will ignore demands to comply and he receives a cold shoulder from other bears how can he get out of this with any profit?
    If company put into admin how can any credit be raised if assets are under dispute as we are led to believe?
    If King lent money via hong kong and it was repaid at high interest rates this would appear to be only money he’s made from this venture bearing in mind loan from NOAL is interest free (apparently).
    He was one of two people to refuse cva for old co so he’s always had a plan to make money from this and to be honest I dont think he has revealed his hand yet?
    I know he hasnt put his hand in his pocket and even his legal bills have been getting paid by others. His P.R. bills cant be cheap and cant see other directors picking up that tab?
    Is he a front for someone else (sbl) or are we now close to finding out what his goal actually is?
    The plot thickens.

    1. The original goal was to run Rangers Lite using Ashley’s interest free capital loans. When that plan floundered the libertine barber’s model was sent to Kennedy’s door to solicit funds. They are now into a sunk costs fallacy endgame. There is an ill wind blowing that does nobody any good at Ibrox. Now that Ashley is officially selling up, the chutzpah charlatans are proposing the possibility of a new Sugar Daddy. The prosaic facts of the matter is that Ashley would not clean his arse with Rangers Lite.

      1. But he knocked back cva?
        He wanted assets on the cheap but was beaten to it by Green. He undermined the board and bought undervalued shares?
        He wouldnt persevere as long if there wasnt a pot of gold at the end of the rainbow. Yes he would have used Ashley credit but he sees value somewhere and thats bit I dont get.
        Even if he tried to sell club to a wealthy benefactor its not worth anything without ownership of stadium and auchenhowie which are both in need of massive investment?

      2. My considered opinion is that he thought that he could make a quick buck by selling his shares to Ashley and manipulating BDO to repay pence in the pound for the £20m that was freshly laundered by Sir Bribe & Lie. Don’t forget that SB&L trousered circa £120m from his tenure at Ibrox by having a finger in every pie. There’s the pay-off right there, plus digital broadcasting.

  2. JJ

    I have this funny feeling that the, Mexican drug cartel, would love to be able to use the lovely washing facilities. Although this really. Would be dicing with real gangster pals.

  3. Wow, the plot really does thicken. Yet another big spanner chucked into the works. Personally I’m struggling to keep up to speed with the day to day impact all this financial jargon has on the beleaguered Ibrox board. But my understanding of it is they are pretty much fooked. CCK has them in a tight corner with his loans, and the potential fall out from the cold shoulder. On a different topic JJ, whatever happened to the WiFi guy?
    and the breadmans employment case? Cheers mucker.

  4. It’s worth noting that those of a Celtic bent can find links to this and currently 42 other articles on Celtic News Now. My articles, and our comments, are readily available to circa 40,000 readers every day.

  5. For those of us who come from a Jewish heritage, we are taught from an early age about the Messiah and false Messiahs. From the time of King David of Jerusalem to the present day, we have had countless false Messiahs. Indeed, from King David of Jerusalem to David King of Castlemilk, the list of Makeweight Messiahs is full of prophets, usually with a cult following, who have promised untold riches only for the following masses to be disappointed and out of pocket.

    And so it is with our very own modern Makeweight Messiah, David King who promised untold riches in this life and untold trophies in a Rangers after life. As with all false prophets, he lied. Instead of a mountain of cash, he has given his followers a mountain of lies and promises which may as well be tossed into the burning bushes.

    This very real scandal never gets reported here and this is THE go to site for those who want to get to grips with the fiscal carnage at Ibrox and the shameful role which has been played by this latter day False Messiah.

    Incidentally, I agree with you that King thought that he would make a quick buck from Ashley. Indeed, Ashley’s departure was a game changer and I understand that he despises the club and the current custodians.

    Big Mike rarely makes false promises and he DOES have a mountain of cash. Now, that was a Messiah moment which has come and gone.

    1. The Mensch..
      I love reading your prose almost as much as I enjoy JJ’s.
      You and others make this speakeasy THE BEST !!!

  6. There was always the view that CCK, having seen the fortune SIR David Murray amassed during his time picking the pockets of the RFC Loyal hordes, figured that he and his Mini Me, Potless Paul the barbershop model could extract a considerable amouynt of cash if they controlled RIFC- Remember the potless Blue Knights? CCK fallback could always have been greenmail, knowing that his shenanigans and toxicity would force the Board, the Bank ( 🙂 ) or any respectable individual /instituition 🙂 to force his exit and buy his shares.
    The attraction of CCK to the 3 bears was evident. A wealthy ( 🙂 )RRM who would provide a Figurehead, manipulate the hordes, get the SMSM even more onside than before, extract compliance from the SFA ( not a hard job with the Corrupt cabal of Regan and Doncaster et al) and, through fair means or foul, (ok maybe not fair) get the RIFC Bandwagon back to the top of Scottish Football.
    The 3 Bears are reaping what they sowed on the Coup which removed the only vestige of propriety and legality, they knew exactly what they were getting with CCK. Perhaps their end game was not too dismilar to CCK. Take control, hoover up the shares, convert any required debt to equity and either extract considerable cash via the SIR DM model of third party commisions, management charges, introductory fees etc or indeed get the club /company to its “rightful” position at the top of Scottish Football and sell at a premium and trouser a mark up on their shares?
    Could be that that train has now officially left the station, there is nothing left other than a debt paralysed husk and SIR David Murray has played them all? Crooks, thieves and vagabonds one and all.
    The only respite could be that Lord Bannatyne comes to the aid of some fellow brothers in need. In the land of CCK and SIR DM and being Charirman of RFC the law does not apply. Who would bet against it? There will be many who will not be surprised if CCK squirms out of this fine mess. Stranger things havent happened but hey, this is Scotland after all!! 🙂

    1. If it had been a parochial Scottish issue then history suggests the fix would be in. This is way beyond the couthy bounds of comfortable Edinburgh freemasonry which turned a blind eye to the corporate failings of SDM & Fred Goodwin. The credibility of the City of London & the UK as a global business and finance centre is at stake. I share JJ’s confidence that CCK will be crushed, with collateral damage to those foolish enough to have associated themselves with him. ‘Ci, il est bon de tuer de temps en temps un amiral pour encourager les autres.’

      Couldn’t happen to a nicer parcel of rogues.

  7. Firstly, Celtic fan from the of my dad had his wicked way with my mum.
    Secondly, I don’t live in the west coast, never have.
    Thirdly, that means I don’t 100% understand certain aspects of west coast life.
    Fourthly, not many West Coasters have ever lived in the North never mind been born there. That’s Ireland not the Scottish North Ok
    Fifthly, as an east coast radge I love my team, spend more hours in my life thinking about Celtic. Than is healthy.

    I’m a bit drunk and have got bored, but my 18th point would have been, thank god you don’t support them, even at our worst we were never as sad as them……

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