Some More Info Re Orlit Enterprises’ Mr Chan’s Connections With Rangers’ Mr Green

As well as the link identified in my last post, keen readers will have  noticed that another one of the companies where Mr Chan Fook Meng is listed as having an interest is Tricor PLC.

Tricor PLC, at least in 2011, was represented and advised by Allenby Capital, and in particular by Brian Stockbridge, now of course one of the executive directors of RIFC PLC.

You can see Allenby and Mr Stockbridge mentioned in this Stock Exchange announcement from 2011.

Back in May 2012, when Mr Green emerged publicly, there were rumours that the acquisition of the football club would be by a combination of Tricor, Mr Green, Mr Chan and Nazim Khan.

Mr Khan, as well as being one of the consortium, it was alleged, is also a director of Tricor.

It definitely looks as if there has been a serious falling out between old friends, doesn’t it?

Posted by Paul “Bloodhound” McConville

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181 Comments

Filed under Charles Green, Orlit Enterprises v Rangers, Rangers

181 responses to “Some More Info Re Orlit Enterprises’ Mr Chan’s Connections With Rangers’ Mr Green

  1. mick

    Keith Downie@STVkeith

    Rangers add they feel the matter is “unworthy of further comment.”

    nothing to see here lol

    • mick

      @Pmacgiollabhain
      Anyone who thinks that the Sevco “statement” on the Orlit story is the end of the matter is very much mistaken. As in REALLY mistaken.

      • mick

        phils drip feeding us com on phil tell us why lol

        • cam

          It may have something to do with his craving for adulation and desire for recognition amongst his peer group.(inserts plagiarised philosophical reference).
          Alternatively it may be a humane consideration on the part of the dripper, due to the possibility of harming the undeveloped brain or the recipient.
          I’ll let you choose fick.

      • willy wonka

        Deleted

        • mick

          willy hes not a failed anything your just jealous

          • willy wonka

            Deleted

            • WW,

              please direct us to your splendid books, I’m sure you’re a fine author.
              It is possible I’m mistaken, your social works may well put your writing in the shade.

              It is possible that you are fine fellow, but then I could easily be wrong, it’s happened before.

              Perhaps you are simply a dim witted erse, who can say?

              Not me, that’s for sure.

          • iain

            Deleted on the grounds of being wrong and grossly defamatory

            • Michael

              Iain,

              that is a terrible thing to accuse anyone of – I presume you have proof, which you will no doubt have presented to the authorities?

            • cam

              Ah,i must have missed the deletions last night!
              I wonder if someone called anyone a money laundering,child killing,crook,spiv,lying,cheating,hun.domestic abuser?
              Nah,they couldn’t possibly do that and go uncensored,,,,could they?

            • iain

              It’s only defamatory if it isn’t true.

        • Willy Wonka,

          Is that really your name?

          I thought about describing you as a failed social worker, but I have no evidence for that.

          Can I just describe you as failed?

  2. ecojon

    Chuckles says: ‘Of the 12 IPOs in the UK last year Rangers was the most successful’.

    Another record obviously 🙂

    Were there only 12 UK IPOs last year?

    Or were there only 12 football IPOs?

    Anybody got a clue what he means?

  3. ecojon

    Nothing on STV or BBC Scotland – no surprise there then.

  4. NLO

    There are rights and obligations in a legally binding contract. In this case Orlit is obliged to perform a service and have the right to receive £400,000 from Rangers: Rangers have the right to receive a service from Orlit and Rangers are obliged to pay £400,000 to Orlit.
    Orlit performed the service but Rangers did not meet their obligation to pay the £400,000 according to Orlit. Rangers are therefore in breach of contract as averred by Orlit and presumably have given Rangers many opportunities to pay before threatening to take the matter to court. So legally it is a disputed debt. I would suggest that if Rangers believe that they have fulfilled their obligations under the terms of the contract that they vigorously defend any action. However, it would not surprise me to discover that the matter is resolved before any arguments are raised in court. I’m sure that Mr Green will be transparent with the Rangers’ shareholders as to whether this claim has been met, partly met or Orlit have withdrawn their claim. After all £400.000 represents a lot of hard earned cash invested by the fans. I suspect they will never know.

    • ecojon

      @NLO

      I can’t see the Singapore company leaking this story unless it had reached a total impasse in trying to resolve it through normal business methods. So it strikes me that rather than have the hassle of a Court of Session action in Scotland that they have decided to force Rangers hand by a judicious leak.

      One would normally expect that Rangers would cough-up, if the debt was payable, and the story would go very quiet. I just have a feeling this might not happen here and I don’t really know why I think that.

      Perhap I’m having an Adam hunch 🙂

  5. Adam

    Off topic……but WGS to bring the results back and grab a 2 goal win tonight.

    Mon the Scotland……………………………………………………………

  6. Budweiser

    PAUL

    I think you should have said from the outset that Mr Chan Fook Meng should in no way be associated with that other well known entrepeneur, Mr Chas Fooked Yees.

  7. JohnBhoy

    The Rangers do not deny that there was a court petition – indeed the statement on their website is headed “Court Petition Statement” – nor the amount sought. It’s so embarrassing that no one wants to put their name to the official response – whatever happened to CHARLES GREEN STATEMENT? This is the first time that I’ve seen a website get a reddie.

  8. dan

    Did someone say a ‘payment plan’ had been put in place? I would have thought 400K could have been settled by a single payment from a cash rich club.

  9. coatbrigbhoy

    20/11/2012
    http://www.bbc.co.uk/sport/0/football/20420041

    “The Rangers Football Club Ltd is a company free of external debt.”

    this must be an insignificant INTERNAL debt,

    • ecojon

      @coatbrigbhoy

      Maybe overseas debt doesn’t count as internal or external debt. What about offshore debt or even extra-terrestrial debt or even Darkside of the moon debt?

  10. Adam

    Brilliant free kick 🙂

    • tykebhoy

      Yup, Carson is drooling all over it. Has he now officially been stood down in favour of you

    • ecojon

      @willy wonka

      An who would be interested in that?

      • willy wonka

        As it isn’t a blog from the many halfwits who dream up conspiracies or have fantasy wanks over some garbage from the ‘informed cartel’ I dare say it wouldn’t interest you or your ilk.
        No harm done if you didn’t bother reading it.

        Lol.

        • tykebhoy

          Wonky you are a bit late. Eco has done a critique of it. I say critique but that sort of suggests that mcmurdo’s piece was of any literary worth. Useless fiction and even worse if it was meant to be factual

        • Den

          You come across as an excitable person with a tendency to foul language.

          As a troll who brings nothing to any discussion you should be ignored and you will go the way of the others.

        • @willy wonka

          “As it isn’t a blog from the many halfwits who dream up conspiracies”.

          What’s all that pish about the FARE investigation then?

          • willy wonka

            You’re looking in the wrong corner there Rab. It isn’t Rangers fans who use concerted campaigns by their staff, friends and family connected to organisations who police racism and bigotry within sport. That corner belongs to you and yours.
            Ra Sellik fans did this one all on their own. Once again they overstepped the mark.
            Never mind. Maybe you can call Paul Elliott up as a character witness. I’m certain he wouldn’t be averse to telling some more porkies to help out.

  11. Maggie

    Channel 4 have announced that they will Contact Orlit enterprises
    for a reply to the Ibrox statement,according to Video Celts.

  12. JohnBhoy

    The Rangers claim that the debt is “insignificant”. We all pay our insignificant debts in an easy lump sum because they are, by definition, too small to be of concern and have no impact on our daily financial well-being. So, why don’t The Rangers just pay off this paltry sum? A debt management plan is for those occasions where we are unable to meet a debt in full without sacrificing other, more crucial, financial commitments. What other undertakings are more important to The Rangers? Player salaries? Daily operational costs? What happened to all that largesse from the float? There may be trouble ahead…

  13. At a certain point last year Rangers football club thought that they had to continue.

    At no point prior to that was continuation in question. Most football fans simply assumed that history was recorded…recorded by Rangers.

    The football club that thought they had to continue has passed the flag to the football club that continues. The club that continues, continues to do the same things as the club that thought it needed to continue. Thus maintaining the continuum.

    Today it looks like the club that continued after the club that thought it had to continue and may well stop continuing, must now envisage a club continuing when they have stopped continuing after the club that thought it must continue discontinued.

    Good luck new Rangers, you’re going to need it.

  14. lordmac

    now that it is known that there was only 10 million in the pot,after the share issue, what is charlie waiting for,
    is he waiting for the price to drop further lol as he said he would take up the short fall personally do a murray, this looks like he has another 15 million to put into the pot as promised, good old charlie ,what would the bears do without a guy like you.

  15. James C

    Two things occur to me from this

    400K for introductions in a deal that needed 5.5M+expenses! As this is just 2 out of 4 invoices the ttal charge was (much?)more than that! Maybe 10% commission for making the introductions? Not a bad business to be in I think.

    Second, this could be a disputed invoice (maybe) but on the other hand it maybe implies cash flow issues with an one-off account like this being stiffed to ensure adequate cash to pay recurring creditors and staff. Are their bankers not willing to allow a suitable overdraft facility to deal with “inconsequential” bill such as this or did the invoice just get lost under Charles coffee cup?

    Appreciate this is a different business to the oldco but given the circumstances of it’s death I’d have thought the newco would be very keen indeed give the impression of financial robustness.

    All businesses need a level of credit worthiness to survive and this type of story they tend to make your average credit controller nervous and be a little more careful on outstanding invoices,. Once bitten…

  16. Is this an eastern promise of a singapore sling for Scotland’s newest fledgling football club ❓ :mrgreen:

  17. Pingback: Rangers “Winding Up” Story Emphasises That People Read What They Want to See, Not What is There | Random Thoughts Re Scots Law by Paul McConville

  18. I take it you’ll have noticed that Allenby Capital Ltd are still Nominated Advisers?
    Pershing Nominees have a stake in ‘consortium’ member Chan Fook Meng’s Tricor.
    http://www.tricor-plc.com/rule26

    To jog your memory:
    208,500,000 New Ordinary Shares to Willow International Limited (“Willow”) (held by Pershing Nominees Limited)`at a price of 0.05 pence per share pursuant to conversion of £104,250 of the New Convertible Loan Notes* (“NCLNs”) issued by the Company to Liberty Capital Limited, which subsequently transferred £104,250 of loan principal to Willow, a company domiciled in the Seychelles (“Conversion Issue”).

    Following the Conversion Issue, there are now £171,750 of NCLNs in issue, all of which are held by Liberty Capital Limited;

    Liberty Capital Limited (held by Prism Nominees Ltd) -18.23% of total

    Willow International Limited (held by Pershing Nominees Ltd)
    Barnard Nominees Ltd -7.62% of total

    http://www.iii.co.uk/investment/detail?code=cotn:MHG.L&display=news
    https://scotslawthoughts.wordpress.com/2012/02/05/floating-charges-and-rangers/

    When you add that to my links posted yesterday about Leo Knifton and Aiden Airley could I gently suggest that a link has been established to Craig Whyte?

  19. And from the RTC archives…..

    “weeminger says:
    02/09/2011 at 2:47 pm

    Sorry to repost from last blog but it’s pertinent to suggestion that Craig Whyte is scrabbling for cash:

    http://www.iii.co.uk/investment/detail?code=cotn:MHG.L&display=news&it=le

    I see Craig Whyte’s exercised some convertible loan notes in Merchant House Group today. This is a little unusual because he normally sells shares at market value then exercises his loan notes in order to maintain his holding.

    Today though he’s essentially sold his conversion straight to another party at nearly 1/3 of yesterday’s closing price and roughly half of what he’d get on the market after the share dilutions. To me this says he can’t wait for them to sell at market price and or he couldn’t find somebody to take a £100k chunk at market rate. Whereas the buyer probably can.”

    Interestingly the buyer is noted as Willow International Limited domiciled in the Seychelles.

  20. Celtic Joe KDS———-
    Orlit Enterprises, who are threatening Rangers with a Winding Up Order over a contested bill for £400,000, appear to be a bit of a mystery. They have an office in Singapore alongside Unilegal, the law firm that Orlit’s known director Chan Fook Meng is connected with. But who else is involved?
    Well, let’s track back a bit. Charles Green’s last role before being called in to front the Rangers takeover was with AIM-listed Nova Resources, where Chan Fook Meng was also a director.
    This company was previously known as Tembusu Investments, but changed its name after its then Chairman and Chief Executive Rafat Rizvi was convicted of corruption and money laundering charges in Indonesia involving a total of £367million.
    When Rizvi resigned, his place was taken by Ms Zhang Yun, whose CV indicates that one of her positions was as
    Director of Orlit Enterprise (Singapore) Pte Ltd.

    Oh, and she’s also the WIFE of convicted money launderer Rafat Rizvi.

    So that’s the type of company Green looked to when he needed help raising the funds for his takeover.
    And that’s the type of company Green has already paid cash to, despite his spokesman accusing them of inflating bills and even faking invoices.
    No wonder Green wanted the Press to decide this matter was “unworthy of comment”.

    PS: The decision to allow Mrs Rizvi to take her convicted man’s place as boss of Tembusu was approved by the firm’s nominated advisers Allenby Capital.
    Allenby’s representative at Tembusu? Rangers Director Brian Stockbridge.

    http://www.investegate.co.uk/article.aspx?id=20100122101109W2129
    http://www.standard.co.uk/business/markets/city-spy-law-may-be-closing-in-on-runaway-rizvi-6400392.html

  21. Celtic Joe KDS 2 ———-
    Sevco Timeline:
    January 2012: Singapore-based Nova Resources, owned by convicted bank fraudster Rafat Ali Rizvi, appoints Charles Green as Chairman.

    May 2012: Charles Green resigns as Chairman of Nova Resources to concentrate on Rangers takeover bid.

    June 2012: It is claimed that Charles Green hired Orlit Enterprises (Singapore) Pte Ltd – whose directors include Nova Resources directors Chan Fook Meng and Zhang Yun (wife of convicted bank fraudster Rafat Ali Rizvi) – to source “seed funding” for the Sevco 5088/Sevco Scotland takeover attempt.

    February 2013: It emerges that Sevco have already paid unconfirmed sums to Orlit Enterprises relating to two invoices for services rendered but are being threatened with a Winding Up Order over their failure to pay for two disputed (and allegedly “faked”) invoices totalling £400,000.

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