During the Rangers administration process it was highlighted on line that the Duff and Phelps creditors’ report on the 10th of July showed what could be a serious misdemeanour, or at best commercial misjudgement, with the catering accounts. It was highlighted here in the comical piegate and its sequels (comical because it was pie joke after pie joke)
For any one wanting a quick refresh here’s a link : https://scotslawthoughts.files.wordpress.com/2012/07/rangers-fc-plc-interim-report-by-duff-phelps-10-july.pdf
The most highlighted part was the
Income
Food and Beverage Sales
£388,973
Expenditure
Catering / Food and Beverage
£991,155
the above is from the 10th of July interim report.
As we all joked they bought pies for 3 pound and sold them for 1 or was it some thing else ? There were also repeated attempts via contacting the suppliers and ibrokes and Duff and Phelps but no one seemed to be able to answer what we were asking at the time and it died a death but now the club is up and running with new owners after liquidation, we can focus on it again and try and figure out why there’s a gap.
When Duff and Phelps completed the sale to Charles Green they issued a Final Report on Rangers Football Club (In Administration) so I was well interested in seeing the numbers surrounding the pies.
Income
Food and Beverage Sales
£388,973
Expenditure
Catering / Food and Beverage /cleaning costs
£946,170
the above is the 27th of September final report.
So since piegate the figures have been altered and they have added the cleaning bill in but still no explanation made public to stakeholders to explain the gap. Here’s a link for the final creditors’ report to refresh over
http://en.calameo.com/read/000390171396ae4321318
D&P to me are not telling the whole picture here. Apart from the undervalue sale there are other matters needing cleared up here. Don’t forget BDO and Mark Daly took a interest in it so if you are a stakeholder, don’t worry the truth will come out and justice will prevail and any wrong doing will be corrected via Scots law and judging by the above I don’t think it will be not proven.
Anyway, another thing to come to light via the passage of time was AZURE the caterers at ibrokes who after liquidation were brought back on board to do the catering. Here’s a quick look at the company’s website and profile of ibrokes http://www.azurecatering.co.uk/venues/glasgow-rangers-fc/ They are based in Middlesex and well good at serving succulent lamb and fine wine. I wonder if jabba made them keep the original supplier in turn for lots of coverage or was this already decided when they bought the pies back in Feb to June?
I could go on and on all day and night here with this but I won’t and in my final thoughts and conclusions I will just say BDO will want to see the invoices for all the above figures and if you have been to ibrokes and had a tummy bug it might be the oldco pies stored in the fridge from last season to make up for the loss due to liquidation. Or was it a phantom sale to cover the loss by Azure. There are lots of unanswered questions surrounding the undervalue sale. If justice prevails here I think D&P might be joining SDM and Whyte in 1 of Her Majesty’s finest hotels.
(Editor’s note – any references to Her Majesty’s hotels are intended purely in jest by the writer and no implication of criminality is intended, nor should any be inferred in respect of any of the parties referred to in this post – thank you.)
Don’t forget Craig Whyte put Azure via financial deal involving close brothers (no handshake jokes from me) so if Whyte’s deals are following over from oldco to newco where does this leave Ticketus?
Azure used to be owned by ex-Rangers chairman Sir David Murray.
At the moment I feel we’re only biting at the crust although through time I think we will be hitting the steak and gravy. I have a feeling it will be well juicy. It looks like its just the taxman and the fans that have lost out here.
Posted by mick
Random Thoughts Re Scots Law by Paul McConville 
Would a comparison of the catering accounts of the other clubs using Azure be useful to your investigation?
yes all info welcome just up load it or do a post with the info
Mick,
Much like my niece, who, despite her educated background, talks to her pals in the most plebian of accents, it’s good to see your demenour of glasgow schemie give way to erudite argument. I applaud your versatility. 😉
@jono 3dimentional my academic friends call me lol versatility am well shuffed with that kind words indeed
Thanks for upload my post paul maybe this time some 1 from the msm might ask d&ps about the figures involved as a dont think the rangers fans are that messey were the bill would be that high ?
Perhaps they invested in fine wines only to discover the bottles were filled with Buckie or Irn Bru?
If they spent that amount on catering-nearly a million but had not sold anything like that was there anything in the assets register reflecting large amounts of stock(Preferably not stale pies there’s enough of them at Easter Road(ALLEGEDLY).
it looks like d&ps have a lot of questions to answer not only about the under vale sale but roughly 500,000 of missing pies if they are not missing well weres the cleaning invoices to prove this
Hang on there- Buckfast IS a fine wine!
Nice one Mick. I’m surprised porridge didn’t come into your essay. Early days right enough.
porridge is well in the pipeline as the police are well on to the lot of them and bdo so lets hope scots law previals as the pies went missing in glasgow and its such a large amount a think it will be up to barl they must think our system is buttoned up the back a just hope the judge throws the book at them
I think their website contravenes advertising regulations with the following statement describing Rangers:
“A regular player in European football, Rangers is renowned for its passionate fans and dominance of Scottish football”.
As old as the venerable pies it would seem 🙂
@ecojon what a night mister whyte was well on form is eyes are well scarey
so its a conflict of intrest( whyte said so) and a large amount of pies missing (thief) its not looking to good for d&ps
heres a link for the full interview of whyte
http://www.bbc.co.uk/news/uk-scotland-19975957
@mick
Got to applaud you for effort and dedication to whatever it is your cause out…not sure what that is yet, but appears to you have assumed the role of a vigilante, hell bent on bringing justice to those that have wronged the scottish game.
I actualy feel sorry for you because actualy in amongst all your ‘sevco/deluded’ there is some good stuff in some of your posts, but everything turns a tad bitter.
I mean this good stuff, but then you imply that dm, cw and dnp will soon be bunking up in jail somewhere….i as a rangers fan would love that after all they have done, but realisticly thats not going to happen…the faith in bdo i fear may be misplaced, the ‘undervalued’ sale just isnt going to be reversed as bdo cannot prove that the ‘price’ was too low, because price is not driven by a number on a balance sheet but by what the market is willing to pay…if greens offer was the highest and no other existed how can it be deemed as undervalued, dnp accepted the highest offer on the table…
@andy tonight a have uncovered more pie drama it was going on under whyte take a look at the link ,if the fans demand the sale revoked yous are not liquidated yet so yous could save the club find a new buyer the knights never stood a chance green was in place well before them they could step in now and take the club back and green will just have to take a lose nothing is impossible here d&ps are not fit and proper so have no right to sell your club green is going to fleece yous then leave yous in admin hes doing share float to fill funding gaps not for players or moonbeams
oh andy no comment on tonights bbc show
Andy,
but what if DnP had put the assets on the market, to actually do the best for the creditors, right at the beginning of admin. I think 5.5m would have been realised and perhaps thrice over. I think the sale at 5.5m was manipulated, and so do most on here, and beyond?
We’ll see.
It’s like the film Titanic, they Leo Kate one. Started off with a great story, started getting boring when they spent two hours looking for a place to have a hump, all the while I was waiting on the sinking (no obvious pun intended)
That was the part of the story for me, and you know what, I’m there again now, getting fed up waiting on answers.
Jed
@jedi01 its been a wild day with whyte over the next couple of weeks we will see if there is fallout from it a think there will
Andy, BDO will be able to prove that it was undervalued. There is a paper trail. Some folk never learn. It all comes down to crooks not trusting each other.
@michael them all lack probity lets hope bdo put the record stright
Other offers and substantially higher were on the table> However Duffer and Felts locked Green in as the buyer IF liquidation took place. Green’s offer was not the only one on offer for the ‘scenario’ of liquidation.
D&P should have (as administrators) secured the best deal possible for benefit of the creditors. Not stage-managed the farce they themselves were conducting for the benefit of their pals.
CW backing up CG’s story of no other buyers is a smoke screen as there were alternative offers but they did not put forward an option for a CVA as they knew that was not going to succeed .. the same as CW and CG did … They simply locked themselves into a we are the only buyer contract .. sorry scam with the assistance of D&P in order to reject the other offers on the table for a liquidation scenario …
If they get away with that scam and it’s most likely they will then the law is an ass.
They simply concocted a contract to dismiss other bids .. and ones where they were actually putting money in .. not a LOAN !!
In Administration Food and Beverage Sales
Income
5 months 12 months
£ 388,973.00 £ 972,432.50
Expenditure
£ 991,155.00 £ 2,477,887.50
the above figures are from d&ps after 4month of admin july they also released 12 month figures cleaning is a Facility Cost so its now came to light that the pies have been going missing under d&ps and the people before him all numbers above are from the link below which is related to player cost but includes the other costs and sales its well messy the pies and looks like a scam
Oh lord, thats good Mick, and it’s so weighted on the least possible expenses and it’s 2 months old, I thoughjt they were loosing 1m a month, I’m not far away
STV TONIGHT
Interview with Green at 10.30 tonight,
thanks ecojon a will get that on it looks like its bbc v stv for rateings lol
I am all set, first Mr Green then Mr Whyte, then colonel mustard.
@violet its been some day for the internet bampots with the return of whyte and now green with denials theres just no end in site
Mick
And I am beginning to think that we may be about to see a step change in all of this. First articles in the MSM questioning what has been going on and what is proposed. Now the main players coming to a microphone near you. I feel that Paul and the others, including you and Ecojon and Mike will soon have answers and outcomes you can be proud of helping to root out. The MSM should hold their collective heads in shame that their job was done by gifted amateurs. I look forward to Mr Traynor’s next article drawing all the threads together and providing the authentic voice of football.
if you add all the blogs together and the hits per day it would rival any main stream paper sales if they dont then they will be come obsolete as every1 has had enogh of them the more we encourage the kids to by broadsheets then there is a good chance of this ,tabloids make you deluded and limit your mindset and you end up with no brian groth and a low iq
Lmao,,,,they said Les Dawson had to be good at playing the piano that badly out of tune,likewise the person operating your persona must be good to appear that stupid.
3 moddies and i’m out,but you’re ok, you can call folk crooks,use sectarian insults,smear people with proven lies and its business as usual.
How does one moderate oneself?
Lets ponder for a while
We have a discredited lawyer bankrupted by HMRC pontificating on morality??
We have a pamphlet distributor smeared with a sectarian brush
A fantasist journo wasting police resources
Sounds like that imaginary Celtic back line of Weir Tebily Scheidt,,insert effeminate smiley.
Thats three main players in the propaganda war against the Gers,,,what a joke.
Bugler!,,,sound the last post for me,,enough of these po faced obsessives,i’m taking my smeared,discredited,fantasist CV down to South Lanarkshire Cooncil and seeing a pal of mine fur a wee job.
PS
I’ve gave a glowing report on this site to a friend who is studying politics,,,,hypocrisy,double standards and sycophancy will come in handy.
pip pip!
So, the assets are worth £80m. BDO must be interested.
there you have from the horse mouth, the assets were valued at how much? Did he really say 80 million, i may have misheard?
So the Rangers property was valued 2 weeks ago at £80 million according to chico.
Are you listening BDO?
Eco
People will think we’re in love.
@ Violet Carson
Don’t know about that but Great Minds obviously think alike at the same time!
80 million what a cheek to come on and say that
vi loves eco lol
“He’s won me over”. As tweeted by someone. Was he listening to Mr Green. Must go it’s newsnight.
hes a true scottish gentleman hes never said 1 bad on here and is the benchmark in blogging
@ mick
Thank you for defending my honour 🙂
oh how do we know your not a follow follow huney trap lol haha
Also said that everything has FSA approval – that’d interesting as I don’t think that’s part of the FSA remit to approve AIM Flotations but I’ll check.
It’s not even part of the AIM Market remit as far as I remember as it’s a self-regulated market and approval is carried our by the NOMAD who is paid for by the applying company as they have a dual role to advise the company and make sure everything is acceptable under the AIM Rules.
Hmmmm………
Would Charlie say £80m out loud if he thought it would scupper the D&P’s sale to Sevco? I don’t think so.
He also answers the question on the floating charge Whyte may still have on Murray Park and Ibrox with,” there are no charges” and “.. we have control over the assets”. This does not mean they own them. I think Craigie boy or something he controls or has a stake in, still owns them.
I suspect Craigie boy’s performance tonight is a warning shot, that they better not mess or he will scupper everything. Maybe Craig’s due some cash and it hasn’t been forthcoming. You can’t trust anybody these days!
@plughole good point we have banged on for months about it athink we are getting near the end game mexician stand off is the phrase of the day to discribe it ,but to say 80mil is well a undervale sale he said in a few weeks why did he not pull sheets with numbers and say there you go get your financial experts to mule over that hes lying and a chancer
Whyte and his collegues have had many dealings with catering companies before. Hollywood Media, Wood Hall Realisations, Catering4events
There is a lot more in these catering deals whilst Whyte was in charge at Rangers IMO
This catering thing could be where his payoff came
http://www.lse.co.uk/FinanceNews.asp?ArticleCode=lb28n230gpf0ccb&ArticleHeadline=Hollywood_Media_Services_acquires_TV_catering_contract_for_up_to_575000_stg
I am in awe. That nice Mr Traynor is far better than any of us. He is my new hero. Whatever he is being paid is not enough.
jabba just gets paid in lamb and wine he must be well muddled with all the news today for the first time ever he is under scrutiny and is beginning to soften to the truth although if green pulls deal of he will be back hard as nails
a we tune dedicated to jabba and minty
I have to be honest I reckon events are moving too fast for Jabba – he seemed like a rabbit caught in the light at the end of the tunnel that bothers Ally so much. Do you think I should tell them as I don’t want the rabbit to get hurt. OK then run like Hell – It’s a train coming down the track and craigie’s driving it.
It was quite funny as Jabba obviously really isn’t sure what way it’s going to tip and he isn’t very good at riding fences – too used to being the Voice of Scottish Football. Wonder what craigie’s got on him?
Hey! Did you check Jabba’s suit? So sharp you could shave with it. But leaving aside the fact that he hasn’t a clue about what’s going on with Craigie, did you notice the body language when ‘succulent lamb’ was mentioned by the interviewer? Jabba sat back sharply as if slapped on his prodigious jowls, then snapped back forward again and mumbled something about ‘being proud’ that he had introduced ‘the phrase’ into popular culture. Talk about being in denial! What he introduced was a form of craven journalism that contributed to the demise of his beloved Rangers. And can anybody check on why he was denied access to his master ‘Sir’ Davey, for four years, for something he wrote while at the Herald (can’t believe they ever employed someone with such limited writing skills–but there you are)? One thing Jabba did get right though, was saying that wee Craigie was ‘plausible’. When I came away from watching him I didn’t know what to believe. I think I might actually have bought a second hand car from that man. But to clear things up for the befuddled Jabba, Craigie has probably broken cover to disrupt the flotation. Hell hath no fury like a con man rumbled.
a missed the newsnight am waiting on it going on iplayer it will be up soon
jabba is just a joke figure now in the media his fall from grace has been comical he invented the phrase keyboard clatters and internet bampots hes under contract and is covered by the unions thats why they dont sack him its time to change these faces we see each week spouting lies and let a new breed in phil sorted jabba right out via rtc and downfall he will be remembered as a fool the book will last longer that his articles in a tabloid a cant stand the man constant ly says taken the michael it gets right under ma skin that
Best bit I think from Jabba, (last night’s Newsnight ….)
” I asked him, (C.Whyte), several times about the Ticketus deal.
He denied it!
I asked him several times about not paying PAYE.
He denied it !
I mean Craig will probably deny I asked him these questions.”
Probably Mr. Traynor?
When did you inform the world, before tonight of these probing, damning interviews?
.
Craig Whyte said Rangers’ didn’t pay tax because they had no money. Isn’t that trading while insolvent? And last time I checked, insolvency was illegal.
For anyone wondering, like myself, what Craig Whyte had to gain by giving todays interview, GOOSY from SFM explains:
“How does Whyte profit from todays disclosure?
He profits if D&P are found guilty of conflict of interest WITHOUT him being interviewed as his voluntary statements will support the findings of LH and the Insolvency Practitioners Association
He profits if the IPO is suspended by AIM because the sale agreement could be cancelled due to COI
He profits if his RFC related actions up to Administration on 14 Feb 2012 can be defended as being within the law
He profits if his floating charge reverts back to RFC from an (unnamed) Sevco 5088 subsidiary (where it probably rests now) and does not get challenged by HMRC when RFC are liquidated. This enables Whyte to pay off Close Leasing`s fc and claim Ibrox and MP in lieu of his £27m fc claim. He can then sell the assets to genuine fans of the deid club with the proviso that the Ticketus deal is rolled over
He profits if he can secure the cooperation of Ticketus in exchange for staying silent about the identity of Ticketus investors and their probable link to Minty
He profits if in addition to the Sale Agreement to buy RFC there was also a secret agreement under which Minty paid Whyte a large bonus for keeping him out of the spotlight”
I missed all the BBC Goodies what happened? JB
@JimBhoy
Chris McLaughlin interviewed a man who looked as if he’d seen a ghost. Then Jim Trynor spouted a load of shite.
Traynor is a fukin asshole
gonna go watch…
Am I alone in thinking, today Mr Whyte was sending Mr Green et al. a wee subliminal message? Along the lines of – “Don’t ehh…try and ehh…con me out of ehh…my money you ehh…bastards, iiiiiii..ehh…know where ehh…the bodies are ehh…buried”.
Traynor is a fukin asshole again….. why the fuk is that ugly b’stad on telly< imagining hi fukin ugly mush on telly makes me wanna poke my eyes out…!!
Does no one upon no one understand that it is the market that drives the ‘price’…comments like what about if they put it on the the open market…..eh well they did and numerous parties didn’t stump up!! Or there is a paper trail…..what?!? I highly doubt there is a paper trail that says, hey Mr Green, since we like you, were going to sell these assets well cheap…get real people. Green was able to drive the price down because there was no other buyers in the market!!
The fact that Green says there worth £80m right now (if he even did) makes not one jot of difference…no one would come and buy the assets at that price, and you know why I know that, because Green would have bit their hand off before I had even had the chance to write this, been away out the door in the bahamas!! I could take this keyboard I am typing on and say its worth 10m on my balance sheet, it doesnt mean anyone will pay 10m for it. I guess some folk on here just dont get it…..sigh
And COYBIG, the SPL are insolvent, it is not illegal, generally those that do operate in this manner, are signed of by their accountants to continue as ‘an ongoing concern’, Rangers obviously didn’t get as far as audit, but it’s not illegal.
Anyone that wants to lap up what Craig Whyte says is welcome to do so…he is a conman, if you choose to beleive what he says then thats your own personal misgiving.
@Andy
trading while knowingly insolvent is a crime. Any auditors that sign of accounts as a going concern knowing that the company is in fact insolvent risk many things including being struck off, massive claims against both the firm and the individuals and possibly even criminal proceedings.
Also Craig Whyte occasional does speak the truth like the £10m blackhole. Most of what he said in the interview should be taken with a pinch of salt but only the same pinch of salt that Charles Green’s regularly self contradictory comments should be.
Andy .. you can repeat that myth that there were no other buyers until you are blue in the face .. The fact is there were, they simply didn’t want to waste time with a CVA.
Green shut the door on that door by ‘insisting’ on a closed shop if the CVA failed ..
No other buyers is another myth you lot buy into … which is why your club deserves what it gets,
http://en.wikipedia.org/wiki/Supply_and_demand#Equilibrium
its demand that sets the price of anything @andy
there was other buyers d&ps froze them out of green to fleece the expences simple as that we all new something was wrong
@Andy
Could you explain why you think the SPL is insolvent
@Andy
Forgot to add. Trading while inslovent ain’t illegal? Eh, I think you’ll find that it is.
@greens been found out but the sevco have there heads in the sand agian
greens similiar to whyte a total conman hes bleeding 1mil a month and is odds on to hit the buffers like oldco in the not to distant future