Paper Tigers

Tuesday 15 May

LORD DOHERTY

PETITION DEPARTMENT

UNSTARRED MOTIONS

P341/17 Pet: The Panel on Takeovers & Mergers for orders sec955

Dentons

The Takeover Panel’s solicitors, Denton’s, will submit yet another section 955 petition to order King to comply. The inveterate criminal does not intend to do so. Ringfencing some money in a South African bank, and then claiming that he was prohibited from transferring this quantum, is just one of the many lies told by King. As for his fallacious assertion that it takes time to open a bank account in the UK and that he would take the Panel’s decision ‘under review‘ he is lying through his back teeth again. He could transfer funds from his BVI trust fund to his solicitors account. James Blair could accommodate these funds in a thrice.

Is it any wonder that he insisted that his Club Orange Coterie of hand-picked journalists did not go to print until he was safely ensconced on a plane to Johannesburg?

The court action taken by the Takeover Panel is unprecedented. The Panel only received enforcement empowerment just over a decade ago. King’s cavalier criminality must be taken to task. However as things currently stand The Panel’s actions have all the bite of a paper tiger. They have not even inflicted paper cuts on the career criminal.

Today’s petition which is unstarred will be considered by Lord Doherty in chambers. On the balance of probability it will be approved. But then what?

I contend that The Cold Shoulder would be more effective. It beggars belief that this has yet not been executed. King is a pariah in The Square Mile. The City bible, The Financial Times, has reported on King’s reluctance to comply with the provisions of The Companies Act of 2006. Each and every company persuaded by Charles Green and Cenkos Securities to invest, now want out. The Easdale Brothers want out. Twenty pence per share is the best offer they will ever receive for the distressed equity.

King fears The Cold Shoulder. In a rare outbreak of honesty (fatten a sacred calf) King asserted that it would not impact him. However it would impact RIFC Plc as having a Chairman in financial purdah would have an adverse domino effect on RIFC’s supply chain and all the financial institutions that RIFC rely upon. To use one of King’s own metaphors:

The Cold Shoulder would lead to the collapse of the Sevco house of cards.

It’s high time that the Panel took the gloves off and invited the FCA to close down the prospective rights issue, or at the very least carefully scrutinise all transactions.

Of particular interest should be King’s stated intention to convert £10m of the loans to equity. Loans from the concert party who are expressly forbidden from participating in the rights issue. £10m that must be transferred to be UEFA FFP compliant.

Compliance seems to be a taboo word with King. However should he not keep the Gnomes of Nyon sweet, any recalcitrance on his part would most certainly have an impact on Rangers Lite.

If I were in charge of Kilmarnock I would initiate pre-season training early as Lite’s UEFA application, which hangs on the conversion of loans to equity, is far from home and hosed.

 

 

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38 thoughts on “Paper Tigers”

  1. This is why I read your wise words JJ. I can read revelations about Syria, Palestine, Brexit, and Trump all across the web through contributions written by philosophers, historians, politicians, priests, conspiracy theorists, fantasists, bampots and truthseekers before drawing my own conclusions. Only here, however, can I follow daily the ongoing saga of the Ibrox meltdown. For this reason my contributions will continue over the close season and beyond as we look forward with trepidation to further criminality in the World Cup.

    JJ: Thank you buddy. Your close season support is mission critical.

  2. Signing the Primrose Pledge of Glasgow Rangers F.C. to the Masonic Cause led to the ending of Mr. William Wilton’s role as manager of GRFC, and his sudden demise. His boating companion, Billy boy Struth, a born bigot, of the Primrose ilk then took to the streets and with Primrose recruited every Mason and Orangemen with an oath of silence signed with their blood if they joined both lodges. Masonic Jurisprudence forbids any brother mason outing the crimes of GRFC because they would be killing the golden calf and destroying themselves and the Satanic Lodges which have underpinned a century plus of naked aggression and corruption. THERE END IS NEAR, but only if PRIMROSE is nailed to the court walls in a missive to bring proceedings against he very Police Scotland and Judiciary which is still protecting Sevco in case they, like GRFC go to the wall, wherein no funds lie. The whole thing has been a House of cards since the day in 1912 when John Ure Primrose took the reins at Ibrox, atop the marble staircase and hatched a plan to ensure the Irish Catholic clubs, which dominated the game of football in that era was ended by the PROTESTANT MAJORITY and their tawdry secret satanic combinations. Sanders wrote of Sectarianism in Scottish Football in his thesis as did Lefebrve, and the gained their Ivy League degree by showing no crime at Dundee Hibernian (Dundee United, Hibernians in Edinburgh or at Glasgow Celtic, but GLASGOW RANGERS took over the game by fraud and by subterfuge and cannot let go of the power cord which keeps the lights on at the listed building and Hampden and every SMSM propaganda factory.

    Keep up the good work, and I will keep sending your exposes to UEFA on a daily basis as a second witness of their shenanigans and criminality. We at the tine “Shadow of Yale Policy Centre” in New Haven, CT., are challenging the Masons in every area of their influence and GOD is on our side. I have read all the Books that are available on the issue and Satan loses, and the secret combinations are shredded. Like the Berlin Wall and like Poland, the fall comes from within and the people’s revolution takes down the masonic E.U. with it.

    Thank you JJ. I am not in a position to fund you, but the prayers of the righteous a=go up to Heaven in your behalf.

  3. Jj I see someone called Jimbo on SFM having a go at a blogger is it you or Jill 33 double barrel names. The guy sounds an angry wee man .I see Jill is still pushing it out there in his blog admin 2 and 3 and 4 is just round the corner he needs to get some new script but it keeps his lap dogs happy as all they do is praise him for his fake news stories.

  4. When I was occasionally hauled up on Contempt of Court charges during my days at The Sun, it usually took between 24 to 48 hours before I was in the dock. If the King case is anything to go by the Scottish legal system appears to get more dysfunctional by the day. The theft and subsequent reset of my emails by Charlotte Fakes and the inaction of the Crown Office would suggest that this is the case

  5. Jj, is the scaffolder not being pressed ganged once again here?.
    He has certainly been front and center of the scouser caper now the so called “maintenance offset” is being supported ( literally) by him.

    Surely a wee bit of digging by UEFA into exactly what the offset amounts to should be in the offing? As it stands all that appears to be going on is scaffolding being rented for how much?.
    What a shit fight! And not one “investigive” journo anywhere to be seen?

    What has it all come to? I still don’t know how to register either.
    I look forward to whatever you write on other subjects, your prose appeals.

    1. The question must be asked – “What Are HMRC doing about this additional income Received by the thick scaffolder’s (his definition) company” Is it being declared? Is this money laundering? Will Police Scotland investigate? (Holding of breath not recommended!)

  6. Exactly JJ,Cold Shoulder appliance would lead to Sevco’s collapse.There is the answer.Takeover Panel? C’mon,let’s see what you’ve got! Signed Dave….Much larger dodgy businesses must be watching this utter shambles and sleeping easy at night……

  7. Hi JJ,

    Excellent article as always and tops out a prodigious output over the last 6 to 8 weeks. With regards to your latest missive, I have a number of questions that I’m perplexed by.

    Where has the money come from for the Arnfield signing? Where is the money going to come to finance the Bottle revolution? Why haven’t the FCA, TP actually enforced their own regulations? How many more breaches of the rules do they need to see before taking action?

    I will make my regular donation in the next couple of days. questio

  8. The longer the Panel go without issuing the cold shoulder, the more their powers are diluted. They’ve never been here before because no one was stupid enough to test the assumption of power….dave king is doing exactly that and getting away with it. I’m sure there are hordes of other company owners watching this with interest, and thinking….well if he can get away with It, why not me.

    They’d better sort themselves out pretty soon, or we’ll have a post brexit avalanche of dodgy Dave’s everywhere….

    It’s enough with the Tory government, but relaxed post brexit corporate governance and a regulator with no teeth….it going to be like the wild west!

  9. Hi JJ,

    Whatever topic you decide to write about you can still count on my monthly contributions, as I have said before, I appreciate the time and effort that you put into your articles, which under the circumstances is not easy due to death threats on you and your family.

    Marty.

    JJ: Thank you Marty.

  10. I find it hard to believe that some would pull support over the close season, although I have only been able to make a commitment for a few short months, as this is when surely most of the critical information will start to hit? Mission critical for the Newco is surely when there is no regular income from ticket sales? Also the bound to be hilarious transfer rumors must surely warrant a read?

    I’m beginning to believe that there will be no cold shoulder, for fear of offending those with a vested interest in both the Newco and the local Lodge, or it would have been dealt by now. The UEFA thing also strikes as strange as I fully expect them to be playing, although I would like to think UEFA would take the opportunity to punish a corrupt member.

    Would all Scottish teams be punished with removal of a place in Europe next season if it was discovered the SFA ignored FFP guidelines?

  11. My monthly donation will continue through the close season. I would encourage everyone else to do the same.

    JJ: Cheers buddy.

  12. Has anyone maybe come to the conclusion that maybe King wants them to Cold Shoulder him? Maybe once this sanction takes place he doesn’t have to comply with the court order? He seems to be taking great pleasure out of running rings around the Take Over Panel.

  13. Interesting breaking news is that the compliance officer has charged Rangers over the licence for 2011/12.

    Which Rangers I hear you ask….I’ve no idea, but I imagine the SFA will keep with the continuity lie.

      1. Looking forward to your analysis. Looks like we will have plenty to discuss over the close season. As well as bear on bear action, might we anticipate some Rangers on Rangers conflict? Might be difficult for those with a presence on both the pre and post liquidation boards.
        Imagine the fun if the cold shoulder kicked in now, as well as ongoing ToP legal action. One thing I am happy to predict is that the SMSM will continue their three wise monkeys impression.

  14. wow! ALL THE HARD WORK, ESPECIALLY your HARD WORK IS PAYING OFF.
    Even the Daily Radar is reporting the Disciplinary Charges. UEFA rec’d you latest report and a couple from the CEO here. UEFA and FIFA still refuse to answer any of my messages. That doesn’t matter. I must only INVITE and report back, as a servant of The only power who matters.

    WELL DONE thou good and faithful servant.
    FOOT ON THROAT TIME, IS NOW!

  15. Another excellent piece JJ. The fantastic research and writing has you head and shoulders above all others in the Scottish Football landscape.

    I hope you continue through the close season. I have no doubt there will be many a SMSM squirrel which will take your fancy.

    I shall continue to contribute where I can and look forward to your musings on the latest from the SFA.

    PS. Can we expect an incoming statement from Level 5?

  16. Very interesting to hear that the compliance officer has charged Rangers for the 2011/12 season. This has yet more serious implications for the current entity trading at Ibrox.

    As ever, you are first with the news and your contributors enhance your narrative like no other.

    This is a terrific site. I would encourage everyone to support JJ in whichever way you think appropriate. I rarely read other related sites nor do I contribute to them. But a cursory glance at them makes me appreciate just how good this site really is.

    JJ: As my right hand man TM it’s heartening to note that we have created a site in our image.

  17. I see the SFA leaving themselves out of guilty verdict on the Euro licence they hit rangers with today . Surely they don’t think that no one is going to question their part in this fiasco. It will be interesting to see how the scottish mug journalists spin this one and tell us nothing to see hear now move on . No doubt the fatman at Level 42 will be working overtime to push some fake news out on it . Watch it pushed to the side with no focus on it and stories of 4 5 and 6 million players arriving at ibrox.

    1. Good spot FB.
      The SFA as an institution, along with former and current employees, could be at risk as the dirt starts being dished. The governing body’s wish to protect the establishment club has compromised their status as the independent guarantor of standards within the sport. A root & branch cleansing of the Augean stables at Hampden is long overdue, to restore confidence. Anyone involved in the 2011-12 process needs to be exposed and sanctioned.

  18. I’m also continuing to contribute during the close season. I very much look forward to both your football and non football output.

    When I was training in accountancy, risking the cold shoulder was considered to be the business equivalent of the Russians setting off to put those missiles on Cuba…. I’d like to think that the TOPs relative torpor is explained by no-one previously being so daft as to have taken things this far but given the club involved I can’t help wondering if darker forces are at play, consistent with a previous contempt of court hearing…..

    JJ: Thank you. There is much afoot.

  19. JJ – You can be assured of my continuing support throughout the close season. I implore all your supporting readers to do the same and everyone who does not currently donate to please do what they can for you and the the site. It is literally that important.

    JJ: Thanks buddy.

  20. Plea to investors-we are a Scottish football club and have existed for 6 years. We have never won any major trophies but have come third in the last two seasons. We have a delapidated stadium and a second rate squad. We have a manager with no experience. We have a chairman in legal troubles and have had the cold shoulder applied by all British financial firms we are unable to issue shares and have accrued $26,000,000 debt We may not be eligible for Europe. We have the support of 20,000 supporters steeped in anti Irish/ Catholic racism We are known as Scotland’s shame We are looking for investors wanting to leap at the chance to turn a large fortune into a small one. We want your money soon very soon if possible. Please give generously.

  21. Hi JJ,
    I note that you had discourse with a contributor called Hugh, may i say that it was not I. I make a small monthly donation of only £5, best I can do at present and will continue to support through the close season whether you write or not. Sad that some, for whatever reason have declined
    I have read into the Mc Cann fiasco and would be interested to read your take on it but am unsure as to how to get any passwords.
    Regards

  22. JJ, you can count on my contribution throughout the close season.In their lack of action so far the TOP are letting down shareholders and offering no protection.King is no fool and appears to be taking the piss out the panel who seem not fit for purpose.

    JJ: Thank you.

  23. Hi JJ,
    Will continue regular donation on 3rd of month as usual…….no close season or winter breaks here.
    Looks like things are really warming up now and there will be plenty going on in next few months.
    Cheers for excellent updates/blogs n look forward to reading any topic of interest.
    One on SDM and his activities over the years would be very interesting…………sure it would be a blockbuster.
    Tk care and be safe!

    JJ: Thank you. I have written extensively on Sir Bribe & Lie. I would be happy to revisit it.

  24. I think we have to add Muslims being hated as well as Catholics within Ibrox. The whole institution and its board are steeped in bigotry. Anyone remember the racist Chris Graham anti Muslim tweet? It was disgusting. I hope if a Muslim sees Chris Graham in the street he issues a fatwa 🙂

  25. JJ- I am certainly happy to maintain my contributions during the close season and would encourage others to do the same if at all possible.

    I work in the financial world and spent 12 years in London working for a global financial institution before heading down under.

    Like others here, I have been disappointed in the apparent reluctance of the TOP to activate the cold shoulder. I appreciate that they have to jump all the legal “hoops” – which they have clearly done. However, it is blindingly obvious that King has absolutely no intention of fulfilling his obligations here – he’s really telling the TOP to “F*** off” and daring them to take some sort of action.

    I really thought the City of London financial world was totally different from the corrupt Freemason/OO member dominated Scots legal/financial world.

    However, now I am beginning to wonder – the TOP are looking ineffective and, based on how King is facing them down thus far, I don’t see why anyone would worry about getting on the wrong side of them.

    I hope I’m wrong and we see some real effective action soon.

    Regards

    JJ: Thank you.

  26. My monthly contributions are based on a 12 month year not a Sevco seasonal salary. So many false dawns , is the can of worms about to explode on this morally bankrupt organisation?

  27. Hey jj listen, I sent a wee sling via PayPal as I had tried to get your attention on how to assist in the work.

    If it gets there let me know and keep putting out the quality that you do.

    Cheers, aka the big Aussie Tim.

    JJ: It duly arrived. Thank you.

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