RAngers (In Administration) v Collyer Bristow – Me At Scotzine

Andy Muirhead at Scotzine.com has been good enough to put up some thoughts about the case taken by Duff & Phelps, the Rangers administrators, against Collyer Bristow.

You will find them by clicking here.

I am in the midst of a longer version, the New Order 12 inch remix of Blue Monday, if you will, and will post it soon.

 

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7 Comments

Filed under Me at Scotzine

7 responses to “RAngers (In Administration) v Collyer Bristow – Me At Scotzine

  1. Odi dodi

    Is it me or are Duff and Phelps suing collier Bristol due to the actions of one rogue office bearer, yet their defence on the sfa charges are that the club can’t be held responsible for the actions of one rogue office bearer

  2. Odi dodi

    “collyer bristow” bloody auto correct

  3. DCR

    This continued assertion that a single individual’s actions should be viewed as independent from those of the company misses the basic point about corporate governance. Rangers, like any company has a responsibility to ensure that the necessary policies and practices are in place to police its office bearers activities. Directors, Non-Execs, finance managers and other company officials should always have such policies in place that protect the company. They have a responsibility to protect not just the shareholders but these days there are corporate requirements to ensure the employees, suppliers and other stakeholders.
    If such practices were in place the chances of one man’s actions wrecking the entire company would have been greatly reduced. The Board needs to be strong to create and enforce these rules but where there is a dictating CEO it can ofte be difficult. A strong board should, in the circumstances where they feel the best interests of the company are not being served or the policies are not being created/adhered to, be committed enough to sack the CEO. Failure to act and protect is a single enough reason to prevent any Board members from being permitted to hold Board positions for a period of time going forward. For this reason Paul Murray and several others are not fit and proper people to be involved in the running of the club.

    • Gopaul

      It’s worse that this ……directors can face jail term if a company trades illegally, this one reason they paid so much, their lives are at risk, or their freedoms

      Claims of some rangers fans is no one knew, but every month there’s a directors meeting and the agenda is

      What bills do we have outstanding
      What’s our profit look like

      We know the tax bill arrived years ago and directors choose not to pay it, but challenge it risking interest and penalties on the original amount

      Don’t remember any directors resigning saying this is unacceptable, it only needed one , like j Grieg to do this to save rangers….. Now way to late to say no one knew what was happening ….

      • DCR

        You make good points and I for one don’t understand the head in the sand mentality that led to the liability of the tax case just being brushed aside. Why oh why didn’t the board put aside some funds each year, ring-fenced for the outcome of the HMRC decision? At the very least it would have shown that they were taking the matter seriously and if they won there would be money in the pot to further strengthen the club.

        I feel a little sorry for the fans who may not have insight into the goings on of Board level Director activity and instead of being educated by the popular press they are instead fed repeated stories of ‘it was all one man’s actions’ and ‘SDM or CW did things without anyone knowing what was going on’. The lack of quality press reporting is a sad reflection of the state of our the game in this country.

        While I’m on a rant, why if TBK want to take over the club did they have to ask Ticketus for teh £500k deposit money, only to be told no and then back out? If they really are money men and believe in what they are doing, then they would have put the funds in themselves rather than look to some other sucker to cough up.

        And another thing….Bleating that Rangers are being unfairly punished and that the future of Scottish football depends on them should fall on deaf ears. Where were these thoughts of the greater good when Rangers were pushing up the cost of football in Scotland by attracting players at fee levels in excess to anything other clubs could compete with. This in turn led to other stretching themselves and putting the entire game on a financial knife edge.
        Their very actions has dragged Sxottish football through the mire and undermined eveything that has been built for decades. Had they simply played by the rules and treated others around them with respect then none of this would had come about. To now ask for leniency is akin to crashing your car while under the influence then asking the insurance company to pay out because you were only drunk due to celebrating with champagne having won the lottery.

        Rant over (for now)

  4. SouthernExile

    Paul
    You posted a link to the ancillary docs to the SPA including the CB deed re monies in their client account. Can’t find it, could you put it up again?
    Thanks

  5. Den

    Ticketus have walked away, they may be round the corner waiting for anybody who comes by in their capacity of asset owners or creditors, but they are not funding a takeover (if they ever would).

    This tragedy is becoming a farce or is it the other way round ?

    D&P have been in charge for months and have let 4 people go, two wanted to go (not walk away but similar) , one admitted he had no role and the other was Chief Executive. They have achieved a temporary wage reduction (soon to end) at the cost of players getting to leave (not walk away) at their own discretion and named price. In the meantime D&P have been charging huge amounts.

    As I see it; after a temporary cost holiday Rangers have the same cost structure as before with it playing staff worth less in transfers, no prospect of European revenue and having to pay cash with order for everything from policing to face painting.

    One good reason why they will not go into liquidation at the end of the season if they make it that long ?

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