Mystery Directors and the Rangers Sevco 5088 Switcheroo by Ecojon

A desperate and long-running battle is being waged over control of Sevco 5088 Ltd which lies at the heart of the ‘WHO OWNS RANGERS’ riddle.

Attempts to send the company to an unmarked watery grave appear to have failed and the Registrar at Companies House has withdrawn documents from public scrutiny which attempted to remove two of the three directors controlling the company.

This story has enormous repercussions for the SFA and the future of Rangers; Ticketus; shareholders of Rangers International Football Club; a London court case next month; the BDO investigation into Rangers; the main players viz Charles Green, Craig Whyte and Aidan Earley.

Pinsent Masons may also have cause to ponder their underwhelming private investigation at Ibrox especially when the dogs in the street – never mind the bampots and clatterers – know Whyte had nothing to do with Sevco Scotland. What, if anything, Pinsent Masons uncovered re Sevco 5088 and Whyte and the likes of Green and Rizvi remains a secret or in legal jargon ‘confidential and legally privileged’.

Many of my readers can join the dots and I will keep speculation to a minimum and attempt to provide facts sourced on official documents. As befits a skeleton story it’s very very scary. No zombies have been harmed in the production although hopefully some spivs might be mortally wounded but more important is the need to fully open the eyes of Bears to the dangers which face their club through a lack of transparency.

Ecojon is back on the trail!

Ecojon is back on the trail!

Sevco 5088 Ltd was the company which paid £200k for exclusivity to make the ‘binding offer’ for the business and assets of Rangers Football Club from administrators D&P but I will begin the story some time after the company’s birth and later return to the early days in search of elusive answers

The Rangers AIM flotation prospectus is silent on the pivotal role played by Sevco 5088 which after initially acquiring exclusive rights to purchase the assets of oldco Rangers signed a three-way agreement with D&P (administrators of Rangers 2012 Plc) and Sevco Scotland Ltd to ensure transfer of the assets to the latter company. The Prospectus however airbrushes out this key Sevco 5088 contribution by stating that on 14 June 2012 TRFCL acquired the business and assets of Rangers. Poor old Sevco 5088 was relegated to a minor mention as a ‘related party’ because Charles Green an RIFC director and shareholder was claimed to be ‘the sole shareholder’ in Sevco 5088. Green was supposed to list companies of which he was a director in the AIM prospectus but failed to disclose that interest in Sevco 5088 and it had to be corrected by a later AIM announcement.

Just a week after the RIFC December 2012 flotation Charles Green, listed on Companies House at that time as sole director of Sevco 5088, signed a form on 27 December 2012 instructing Companies House to strike-off Sevco 5088 using the solicitors Field Fisher Waterhouse (FFW), Vine Street, London. Companies House listed the proposal on January 7 2013 and the London Gazette carried it a week later. Then the company’s Registered Office was switched on 12 April 2013 from FFW at Vine Street to another London address associated with Craig Whyte who was also posted at Companies House as a director of Sevco 5088 along with Aidan Earley on the same day.

The director appointment forms submitted to Companies House declared that Earley and Whyte were appointed Sevco 5088 directors on 9 May 2012 and each signed their appointment forms which were countersigned by Charles Green. The striking-off instruction for Sevco 5088 required a minimum of 2 directors to sign if a company had three directors but only Charles Green signed it which is only allowable in a sole director company. The spaces for additional director signatures were marked with an ‘X’.

Reaction followed swiftly only four days later on 16 April 2013 when Companies House received electronically transmitted directorship termination instructions for Craig Whyte and Aidan Earley although the instructing party  wasn’t identified. Curiously, both directorships were terminated from 9 May 2012 although their directorships only became public on 12 April 2013.

Two director termination forms, for Earley and Whyte, arrived at Companies House next day on 17 April 2013 submitted by FFW and signed by Charles Green and FFW also submitted a change of registered office address form, again signed by Charles Green, switching it back to FFW at Vine Street.

But the FFW Vine Street musical chairs had another whirl on 19 April 2013 when the Registered Office was again transferred back to the London address associated with Craig Whyte. On the same day Charles Green resigned as CEO of Rangers amidst a backdrop of allegations over his links with Whyte and Sevco 5088. This resulted in RIFC making an announcement on AIM on 22 April stating that Sevco 5088 was a subsidiary of RIFC on 7 December 2012 when the company’s AIM admission document was presented.

Stung by further media speculation, RIFC made another statement to AIM two days later on 24 April to refute claims that Sevco 5088 was controlled by Law Financial Limited or the Worthington Group Plc. RIFC described Sevco 5088 as an inactive subsidiary which was and is defunct and non-trading. RIFC alleged that Sevco 5088: ‘Would have been struck off by the Registrar of Companies had false claims of directorships not been filed recently at Companies House’ and added: ‘Sevco 5088 was not the acquisition vehicle which purchased the assets of Rangers Football Club.’ Both announcements to AIM were handled by CENKOS the broker and Nomad for RIFC who have now departed the scene.

The AIM statement is carefully worded and tries to avoid the man-traps that surround the removal of Sevco 5088’s legally binding exclusive right to purchase the Rangers assets and business and the transfer of these rights to Sevco Scotland by mysterious alleged Sevco 5088 ‘directors’.

In spite of the AIM bluster the December 2012 Sevco 5088 strike-off move by Charles Green was suspended by the Registrar at Companies House on 4 May 2013 after an objection was received which may well have come from Whyte and Earley or possibly Law Financial or Worthington and this was re-confirmed on 9 August 2013. In between times the Registrar – on 3 July 2013 – authorised removal from Companies House Public Register of the four directorship termination instructions with regard to Earley and Whyte dating from 16 and 17 April 2013.

So what is actually happening? Let’s go back to the beginning when Sevco 5088 was incorporated in Cardiff on 29 March 2012 and the formation agent became a director and a £1 subscriber share was issued to 7Side Secretarial Ltd. On 3 May 2012 the agent stood down and was replaced by Charles Green but there is no indication in public records that the £1 subscriber share changed hands from 7Side Secretarial Ltd. This seems at odds with RIFC’s AIM claim that Sevco 5088 is a subsidiary company when Companies House records show the shareholding held by another company. This is also at odds with the Rangers AIM Prospectus which claims Charles Green was sole shareholder in Sevco 5088.

Sevco 5088 is also well overdue in making its Annual Report due on 26 April 2013 and which would detail the shareholding. Of course if the company had been struck-off as requested by Green then the need to make the return would have sunk beneath the waves without a ripple just like poor old Sevco 5088 was meant to after completing its top-secret mission.

The critical TRFCL Board meeting of 31 October 2012 – whose minute was publicly released to the internet by CF – was attended by: Malcolm Murray (seemingly cast as ‘Daniel); Charles Green and Imran Ahmad in person and Brian Stockbridge by conference call.

The Board noted that Sevco 5088 had entered into a binding offer letter with D&P on 12 May 2012 to purchase Rangers by a CVA or failing that to acquire the assets and business of Rangers by an Asset Purchase Agreement (APA) and on 14 June 2012 the APA was completed after the HMRC ruled-out a CVA. Prior to completion of the APA various ‘original placees’ had invested cash in Sevco 5088 and were to be issued placing shares in that company because their investment was conditional on Sevco 5088 completing the APA as the ‘purchasing entity’. I don’t have written proof if any of this placing cash was remitted to D&P prior to 14 June and wonder if anyone can assist on this point.

The Board noted that prior to 14 June 2012 these ‘original placees’ had given oral consent to the ‘directors of Sevco 5088 to switch their cash and placing letters to Sevco Scotland. The directors aren’t named; no written agreement appears to exist; and the ‘switch’ dates aren’t given. The ‘original placees’ and shares held were: Margarita Trust (2.6 million); Norne Anstalt (1.2 million); Putney Holdings Ltd (700K); Elias Kaisar (100k); Jean T Haddad (250k); Blue Pitch Holdings (4 million); Glenmuir Ltd (1 million); Ian Hart (290k).

The Board noted that a few days prior to 14 June ‘the directors’ of Sevco 5088 apparently decided to set up Sevco Scotland Ltd (the predecessor company to TRFCL) to acquire Rangers and the TRFCL Board meeting of 31.10/2012 minutes that Sevco Scotland entered into the APA and acquired Rangers (with Sevco 5088 and D&P parties to the APA in addition to Sevco Scotland ‘to provide written consent to the change of acquiring entity’.

So we have repeated references to ‘the directors’ of Sevco 5088 and yet there was only the one director – viz Charles Green – shown in Companies House records up until April 2013 when Earley and Whyte went public. But they weren’t publicly notified as directors at the time of the Board meeting on 31 October 2012 and indeed in a statement to AIM on 24 April 2013 RIFC described the Earley and Whyte directorships as ‘false claims’. So who are these mystery Sevco 5088 directors repeatedly mentioned in the TRFCL Board minute?

And why if Earley and Whyte had falsely claimed to be directors with effect from 9 May 2012 did Charles Green issue termination notices of their directorships and state the start date for them was 9 May 2012? Surely the correct step would have been to state there was no start date because they weren’t legally directors and I am surprised that FFW appears to have let this go.

The TRFCL Board minute of 31/10/2012 said ‘the directors’ of Sevco 5088 had agreed the Board structure and shareholding of Sevco Scotland would be the same as Sevco 5088. In terms of public notification that appeared to be the case from 29 May 2012 until 28 June 2012 when Green was the sole director of Sevco Scotland and also publicly appeared to be the sole director of Sevco 5088. But on 29 June 2012: Murray, Ahmad and Stockbridge all became directors of Sevco Scotland but this wasn’t replicated in Sevco 5088 unless there were three other directors who hadn’t been made public.

A curious reference to Founder Shares is noted in the TRFCL 31/10/2012 minute that 2,199,900 shares were allotted to Charles Green in Sevco Scotland but that shareholding isn’t publicly replicated in Sevco 5088 so where is the ‘mirroring’ of shareholding in the two companies?

Is there any trace of the mystery Sevco 5088 directors? CF has provided documentation that purports to show that a Board Meeting of Sevco 5088 took place in London on 9 May 2012 which saw Earley and Whyte installed as directors of the company from that date and that Green would resign his directorship at a date chosen by Whyte and Earley.

Serious questions remain uncover the real reasons behind the ‘switcheroo’ and its legality which will only be established IMO when all the veils are removed.

Posted by Ecojon


Filed under Charles Green, Guest Posts, Rangers

236 responses to “Mystery Directors and the Rangers Sevco 5088 Switcheroo by Ecojon

  1. It remains the central point of the whole “new” Rangers ownership saga (otherwise known by some people, as Jim Spence RIGHTLY said, as the club that died). What happened to 5088’s contractual obligation to buy the assets of the old club, in the event of a CVA failing – an obligation which appears as clear as day in the CVA proposals, dated 29 May 2012? When, how and (perhaps most importantly) for what consideration did this obligation transfer to Sevco Scotland? It is a simple question. The answer may be, and almost certainly is, more complex. But if (the) people want us to believe that the transfer of obligation was done properly, it is an answer that we should have had long, long ago.

    Keep digging Ecojon. Good luck.

    • Welcome back sir, i was a follower before joining the blog, you were very good at what you do, well done, your making sense of all the treachery and deceit, thank you. Please remain on board.

  2. TheBlackKnight

    here’s a thought!

    If Sevco 5088 transferred the purchased assets to Sevco (Sco), did the player registrations TUPE over or are they still with Sevco 5088?

    • TheBlackKnight

      same Q. would apply to the licence/ membership that was allegedly transferred despite two clubs being in existence at the same time (remember – who played on 29/07/12 against Brechin City? whilst RFC 1872 (IL) still held full membership of both SFA and SPL)

      *RFC were permitted to play after “being granted a conditional Scottish Football Association (SFA) licence.” This is backed up by the SFA themselves when the full transfer of RFC 1872 (IL) was was confirmed as transferred on 04/08/12.

      so, two clubs, two licences and one new “clumpany”…….. or is it two?

  3. josephmcgrath112001809

    This makes John Grisham look like an amateur.
    I can’t wait for the surprise ending.

    • Maggie

      John Grisham is an amateur when compared to Eco. 🙂

      • cam

        Yes,as a writer of 2nd rate crime fiction.Well spotted Marge.

      • hector

        @Maggie long time no see mags .Cant hang about I am being stalked by rearpipes son the boy David on one of the other blogs.God he takes after his father/mother/uncle Nial you pick.Must dash I fear he is after my goats sevco tits up by Christmas.

        • Maggie

          You’ll be safe enough the morra night hector,he’ll be away to that meeting at Kirktonholme Primary,you know that school in East Kilbride that he drives his weans to everyday from Methil. 🙂

          • Maggie

            Oh God! I see below he’s trying to debate with eco,that will not end well for Mr Wikipedia,tho I’m sure eco has dealt with him conclusively,roundly trouncing his garbage on TSFM. 🙂

            • hector

              @Maggie . sorry mags rearpipes spawn has followed me here was trying to keep him in the other place so a reasoned debate would be possible here.Now that he has found us what chance have we poor peatbog arabs got against the boy David and his dad Niall. Must get back to the goats.Sevco tits up if they make it to Christmas.

            • Steerpike


              You are right about one thing, I could not lace ecojons boots when it comes to relying on wikipedia, now stop being nasty it is unlady like.

            • hector

              @Maggie hold fast girl don’t feed the bugger.

            • Gortnamona

              Niall has no regard for truth or facts. He sticks down the first bit of nonsense that comes into his head.

          • That wee sect over in E.K. are in for a rude awakening tomorrow night,
            can you just picture Steerpike getting his hands on the Mic,

            If they get subjected to one of Steerpikes “debates” the parents will realise that there is something much worse than a wee right wing Christian sect to worry about in the neighbourhood

            • Steerpike


              I feel it will provide me with the perfect platform to promote eugenics and the banning of all faith schools, faking hard of hearing should add some spice to the evening, it permits me to shout and encourages others to respond in kind.
              My prepared speech is just under 50,000 words, and no toilet breaks or interruptions will be permitted, I will give these people secular fire and brimstone in memory of my mentor, the late, great polemic, Chris Hitchens RIP.

        • david

          Dont call me a boy and I am nothing to do with Niall.

          Another internet moron pipes up.
          Neither do I support “Sevco”; but they wont be “tits up” by Xmas.

          • david

            Another internet moron-hardman.
            Stupid wee boy

            • hector

              @david is rearpipe your mother?

            • david

              Very funny attempt from a moron.

              You are indeed MadPhils nephew, but not sure its from his side , as his 4 claimed brothers, unfortunately, do not actually exist.

            • Do the Donegal clowns 4 imaginary brothers all have the same imaginary father ? Just askin.

            • portpower

              They`re living next door to you.

            • hector

              @david a chip off the old block.Piss off troll daddy is calling.Phil and I are off for a pint.

            • david

              Invite Monti and Bik and that will be your 2 imaginary friends together, unless MadPhils non-existent 4 brothers turn up.

            • willy wonka

              Micks Muslim wife would go. Unfortunately, she’s got wine and bread to take at the chapel with him.

            • mick

              Desperado slagging wife’s willy wanker wee dick cause he eat all the pies he can see or find it your repulsive just like your club and culture you have no wife or girlfriend as your a fat wanker Hun cut hail hail keep my wife out of it you wanker

            • cam

              Leggo finds out that Chico’s big hands have a very long reach.
              Rangers audit performed by a son of a beech?
              Losing the plot a little now David,steady the ship.

            • willy wonka

              Come on mick, tell us some more lies. I love it when you do that.
              Have you told your priest yet that your Muslim wife took communion ? Funny how you disappeared off that thread the second your lies were exposed. Don’t you have any pride mick ? Aren’t you in the least embarrassed that you were caught out telling lies and fairy tales ?

            • david

              @willy wonka
              Lying causes them no shame or embarrassment.
              Look at Monti in his fantasy world- Walter Mitty hasnt a look-in.

              However, underneath it all I think Mick has a good side, he is very much for the ordinary man.
              He dosent seem aware , however that non-RCs cannot receive communion.

            • F f sake david, i don’t know you but going by your posts on here you seem a pretty level sort of bloke who speaks as he see’s, but non RC’s and communion, are you sure about that, I’m RC myself and have no idea of that, saying that though, I am non practicing, in fact not religious at all, if so I am surprised and wonder why, are you RC?

            • david

              @jimmy white
              No, Im a Kirk member, bad attender.
              Yes, I am absolutely sure. Only baptised Catholics can receive ( Catholic ) communion .
              Your last leader described Protestant Churches as “ecclesiastical communities” and not proper Churches , following the traditional Catholic line.
              The Church of Scotland ( Parish ) Minister has a duty to attend to anyone in the parish if requested.

            • Steerpike


              Mick doesn’t realize his wife would be stoned as an apostate if she married a Catholic.

            • david

              Maybe Mick himself is just stoned.

            • willy wonka

              @david, oh, I know some have no shame or sense of embarrassment. Mick is just the latest in a line caught out.
              He’d have you believe that his church is all encompassing and he himself is a churchgoing person. He wields his religion as a weapon on here.
              Unfortunately for him, with his last wee fantasy he exposes himself to a few questions which tend to cast doubt on his veracity.
              Either his wife is not Muslim or is a Muslim who doesn’t know the consequences of attending mass. I’d say the second is highly unlikely.
              Mick paints himself as a regular attender of his church but didn’t know that, although anybody can attend mass, only those who have been baptised can receive communion. Why doesn’t he know that ? I’m not a member of that church but I knew it.
              True to form however, rather than try to answer the allegations of lying, mick falls back on abuse.

            • mick

              Just for the record am well aware of my faith if you look back to may articles you will see a blamed myself for the communion issue its no big deal for a non believer to take bread Jesus would not mind that’s not the issue yous are nit picking a highlighted the taking the bread some time back a should have explianed to her more about the blessing the priest would not mind either how many people go to mass that non believers and go up and take bread lots its not a big deal my wife is full of goodness and Jesus and my faith would have no problems with this if any1 was the sinner it was me for not explaining mass blessing to her as a said in may so there you go don’t try and tar me as A liar or some sort of nut nut a wont get rude I. This comment as its a faithful 1 but am gunning for yous now

            • mick

              David yous are jealous of phil phils rich via books rich in friends to via his work what are you your just shit on our shoe

            • david

              Phil is a joke, a failure, a laughing stock making an income out of idiots like you and the rest of the monomaniac obsessed.
              Unemployable, a bigot, a coward and a liar.
              His (ex ) friends at TAL appear to have twigged him.
              Do you agree with them or not?

            • Monti

              With me & Bik 🙂

            • ♥♥♥♥ underneath a tree K . I . S . S . I . N . G ♡♥♡♥♡♥♡♥

            • Steerpike

              ” I dislike Nialls/ Steerpikes pomposity and arrogance ”

              Humph……………what about eugenics ?

            • Cheap Suit Charlie

              If it’s used for good, like breeding pomposity and arrogance out of peepil, then I’m all for it. Go eugenics. 🙂

            • Steven Brennan

              Is she not one of the queens grand daughters?

            • portpower

              rfc1872 never did davie


            • portpower

              Up is not your direction davie.

          • I am all for freedom of choice, but how desperate does your life have to be to be Steerpikes one and only groupie,

            Steerpike on the left David on the right

            • david

              FFS can you read?
              I dislike Nialls/ Steerpikes pomposity and arrogance and I never comment on the goings-on at Ibrox because I dont give a damn.
              However I see few people on here willing to debate rationally or factually with him, posting the most inane drivel which he demolishes easily, causing those same posters to collectively and childishly deride him, thus exposing their own failure and weakness.

            • hector

              @coat always pictured david a lot chunkier and rearpipe a bit creepy.

        • He’s a bit like Harry Enfield’s dad, ‘you don;t wanna do this’

        • Monti

          Hector haaaa, quality m8!
          I completely agree with you on anything you say & you will continue to receive my full support, the boy David thinks he’s an internet Hardman :)……Xmas sounds about right by me!

          • david

            naturally, Monti, shite attracts flies and maggots

            • hector

              @david say hi to dad /mum /uncle you don’t comment on the goings on at ibrox the last sevco wont be tits up by Christmas comment was ? abig boy in rangers strip who ran away.B or you. If I was Ian Black I know I would bet on B. head in the sand again MacSteerpipe.

            • david

              You obviously cannot understand the difference between a comment contradicting you and general comments on Rangers.
              Your grammar is awful and difficult to follow.
              How old are you?

            • Monti

              Aye & your fkn Lodges are full of them ya goat snagging presb prick!

            • Monti

              Why are you asking people their age on an internet forum?

  4. “Serious questions remain to uncover the real reasons behind the ‘switcheroo’ and its legality which will only be established IMO when all the veils are removed.”

    I heard one of the recordings a while ago, released by CF, a conversation between CW and IA, where CW explained his head was on the block for the £26m. Was the swircheroo not just IA and CG being just even more greedy than CW when they realised, if they dumped him, they dumped the £26m debt?

    It seems unlikely Ticketus will write off £26m. They still want their money and may be behind the scenes pulling CW’s strings to get it.
    If it all comes undone, will everything collapse and everybody lose? If that’s the case, they are going to have to tread very carefully, otherwise it’s goodbye £26m.


    • ecojon

      @ Surrealist

      I’ve explained below that if Sevco 5088 had acquired the assets then Ticketus would have had a valid claim but by moving it to a Scottish company viz Sevco Scotland then they ended-up legally stiffed. I am sure Ticketus weren’t being stupid about the legal differences but thought they would be OK because it was an English company.

      • Felpen

        Good to see you back Eco

      • Eco,
        I forgot to thank you for the oustanding work investigating and explaining the switcheroo. Magnificent.

      • Clarkeng

        Legally stiffed??

        Have Ticketus not been awarded decree in the sum of £17m plus interest and costs against Craig Whyte and are currently in the process of bankrupting Liberty Capital which owns all of his assets ( supposedly )?
        Did Whyte not borrow the money before he acquired Rangers to fulfill a condition of his purchase?
        Did the company not then go into administration?
        Why therefore would Rangers ever be responsible for repaying Ticketus?

  5. See this Sevco / new Rangers / Old Rangers very much ongoing THING that is blogged to the nth degree; are we not missing something.

    The draw for the champions league has put Celtic in the mix with BARCA, AC MILAN and AJAX, which we all know.

    Has it past people’s radar that Mr Messi, questionably the most famous current player in the world, states basically that he has played everywhere and ” none compare to Celtic”. He goes on to say ‘ the atmosphere the fans create isvery special” and ” we cant take nothing ffor granted”. His double negative accepted, what better advert for our team.

    That not being enough Mr Balotelli says “the atmosphere that Celtic make in Europe is famous”.

    As a Celtic fan i am proud, such comments just confirm that my pride is not misplaced, my team regarded so highly worldwide by the best of the best. For sure there are better teams with better players than us, but to be regarded so highly by greats, makes me smile with pride.

    We realistically, like most probably, wont qualify further , , , , , , , but there again , , , , we just might , , , ,
    , , , , , , , and if that happens, its good to know, we will be welcome.

    • Vince, this has nothing to do with Celtic. This is all about the legalities of the Rangers demise and rebirth. Clearly there are still a lot of questions to be answered and it’s a matter of public interest to see if something illegal has taken place. Do remember that some people have lost a lot of money here – and others are making a lot of money reviving the club.

    • @gortchomhor

      This isn’t a Celtic fan website, as far as I am aware, and not all of us are interested in trivial football matters. Not when we are more than likely discussing the origins and scale of the iceberg that the good ship Sevco is surely going to hit…

  6. Raymilland

    Lake Sevco

    Now we know what happened to the other two directors 😉

  7. the rodfather

    Black Knight – It is clear now that 5088 did not enter into the assets transfer. This was done between D+P and Sevco (Scotland) exclusively. The rationale for this as explained in the RIFCL minute is that the ‘original placees’ of 5088 agreed to transfer 5088’s right to exclusive purchase to Sevco (Scotland).

    The question is; ‘What legal documentation did D+P examine and accept in order to convince themselves that the transfer of rights to purchase was proper, legal and legitimate?’

    • I would guess none, the stop watch was ticking,
      the final deadline had arrived,
      in waltzed Green, listen guy’s, i’ve decided it would be better if it’s a Scottish company, keep them Scots dupies, happy Eh,
      i can’t afford any more of these death threats, these safe hooses are costing me a fortune,
      well they are the now until, i can claim it all back on the old Ibrox expense account just like you good people.
      at the most D&P asked,do you have the paperwork,
      Green replies, of course it’s all in the pipeline, the lawyers will send it all on to you tomorrow,
      OK Mr Green,
      If you could just sign there and there and gives us the cheque for £5.5m and enjoy your new club.

      • ecojon

        September 9, 2013 at 8:44 pm

        I’ve always thought that part of the Scottish company ‘thing’ was it allowed Ticketus to be legally stiffed whereas if it had been Sevco 5088 or another English/Welsh registered company, as I’m sure Ticketus thought it was going to be, then they would have been in with a legal claim.

        • willy wonka

          Jesus Eco, did you work that out all by yourself ? Well done.
          Your initial post says nothing that hasn’t been covered a million times on a thousand websites over the past year.
          You just used three times the amount of words anybody else took to say it.
          By the way, whoever you copied it from didn’t have it copyrighted did they ? Wouldn’t like to see you getting into bother. Lol.

        • Renfrewdave

          You have got to think what benefit 2amigos gained out of letting 1amigo continue with his very public switch before raising any objections. That’s got to be the real reason for the switch. As if I was up for a 26m lead weight I would be making sure I kept hold of the means to pay if off. Unless it was to my benefit to let it slip through my fingers. Surely the mbb read RTC at the time, even if only to find out what info was leaking.

      • @gortchomhor

        Hope you’re right, coat, because that would be illegal. What we need to remember is that Whyte and Earley had a say in this, they had rights, they had shares in Sevco 5088, and they were directors.

        • Renfrewdave

          If cg did enter the room with d&p at the 11th and say look we don’t want to buy zombie Utd after all but I Do.. Don’t you think d&p might have bottled it and let him do it. This is where it could get interesting, as if cg did do this and the very late counter offer came in from the Walter smith group, which was giving more than cg, did d&p still have enough time to thrash out the was deal or did ws offer come in too late or after the cg offer was signed. I’m sure ws was on the tv with the offer before cg was hailed the owner by d&p though can’t be sure

          • @gortchomhor

            I don’t see why D&P would have bottled it, i guess they would have went back to the drawing board and opened the bidding process again. Without any bidders the assets would simply have been sold in some sort of liquidation auction or fire sale.

            The evidence we have though suggests that isn’t how it was done. The evidence suggests that some sort of formal agreement between the three parties was deemed to have taken place whereby Sevco 5088 relinquished its rights to Sevco Scotland. And, to be sure, I think the consensus is that this novation would need to be carried out formally with signatures etc. Reference to this exists in the minutes.

            I’m reluctant to sound over-confident, there’s undoubtedly stuff we don’t know, but the picture is pretty clear in terms of how I’ve described it above and I would say relatively simple. I don’t know why some people are saying they find it complicated.

            1) Sevco 5088 which included Whyte and Green had a legally binding agreement with D&P to buy rangers assets whether by CVA or APA (liquidation).

            2) the assets ended up in the hands of Sevco Scotland with Green, Whyte was left out and obviously felt robbed. This has puzzled a lot of us for many months, nobody could explain why D&P would seem to have reneged on an agreement they made. We were all guessing.

            3) evidence released by Charlotte on Friday points to some sort of novation document being signed which essentially transferred Sevco 5088’s rights and obligations in respect of the assets to Sevco Scotland. If Whyte didn’t consent to this, and it seems he didnt, it raises some interesting questions about who did and who they consented on behalf of.

            Eco seems to be suggesting that Whyte might possibly have been paid or some sort of deal struck with him. I think he is suggesting this is why Charlotte has disappeared, implying the strategy of exerting pressure through anonymous leaks was a success.

            I have my doubts. I also think the blue knights, McColl, King, and everybody on the board would be aware of all of this stuff, and I would guess it would play a part in any negotiations in terms of the future of RIFC. We have not seen any money on the table from the blue knights, not really, maybe they brought this stuff to the table and it has fed into the unease. It must be an issue though in any negotiations about the future of RIFC.

          • ecojon

            September 10, 2013 at 8:19 am

            The problem with that is that D&P was sitting with millions it seems already paid to it mainly from the original placees. If the deal wasn’t completed that money would have been lost.

            It might even involve Zeus money but I’d need to check the dates on their facility to see if that was the case.

    • ecojon

      the rodfather
      September 9, 2013 at 5:22 pm

      I think you must always be careful at taking anything at face value. The original placees weren’t in a position to transfer any rights of Sevco 5088 what they are supposed to have done was agree to their stipulation that Sevco 5088 should be the acquiring vehicle of Rangers be switched to Sevco Scotland. However this permission doesn’t appear to have been given in writing but ‘orally’ to the Sevco 5088 ‘directors’.

      However I think it fair to say that even if Whyte and Earley and possibly Rizvi were actually Sevco 5088 directors at the time (mid June 2012) then it was a secret. So the only director was Green so was the plural ‘directors’ used to further confuse the only problem on the Board viz Malcolm Murray who appears to have been kept in a befuddled state through drink.

      • Clarkeng

        No it was not a secret – they were not directors.
        They may well have been shareholders but I would have thought that they would have been identified within the placees.
        The only director at that time was Green.
        Companies House allows 14 days for notice of change otherwise the date of appointment becomes the date the form arrived at Companies House.
        Maybe the reason Sevco 5088 could not complete the transaction was that the company did not have the funds to do so.
        Maybe the shareholders voted in the majority to transfer the right to acquire the assets to Sevco Scotland.
        Maybe as Green was the sole director an executive decision was made to transfer this.
        Nothing illegal in any of this.
        In England verbal agreements are not worth the paper they have not been wrtitten on.

  8. hector

    phew that was a bit too heavy for me.To sum it up two sets of lying cheating shysters are ripping each other off and may be breaking company law.They are fighting over the carcass of what used to be Rangers and if there is any natural justice they will do each other in and sevco will be put out of our misery.

    • tecumseh

      All that and bent Fuzz trying to nobble HMRC…….

      HOOTS MON…..!!!

    • cam

      Hector,it ain’t heavy.Although clattered by a complete pudding,its a light airy fairy souffle and will collapse into a gooey mess.

      • cam,

        in all the time you have spent posting here, have you actually produced anything new, or anything which resembled a new understanding of existing information?

        To post frequently in the absence of the above looks desperate at best and idiotic at worst.

        feel free to continue.

        Your reputation is assured.

        • cam

          I think the short answer to that would be, no Martin.

          I quite like the post as desperate imbecile and when one finds ones niche in life its best to make oneself comfy,don’t you think?

          Eco has found a new home,thank God,and his new buddies are most welcome to him.I used to think he was intelligent until i realised he only absorbs Wikipedia quotes and re-arranges them tediously,with mucho speculation and wondering, into a scenario that usually ends in the utter destruction of Rangers,a fervent deep seated wish to see a new Rangers cleansed of its horrific baggage and supported by pockets of no more than a dozen fans at a time, to discourage them reverting to “darkside” methods and marauding through the streets.

          I shall space out my paragraphs a bit more from now on and try to develop more gravitas when debating the very serious business of the preferred extinction of a mediocre football club.

          I now realise that this matter is not to be taken lightly and if you,Eco or any other “thinker” can be the one to unearth the gem that proves Rangers are the anti Christ,then it will have been my privilege to have at one time in my pitiful existence,to have annoyed you.

          most insincerely


          • Gortnamona

            ” fervent deep seated wish to see a new Rangers cleansed of its horrific baggage”

            I agree with you. Rangers would not be Rangers without the many thousands of foul-mouthed sectarian supporters. Far better to put an end to the anachronistic monstrosity and its ‘horrific baggage’.

            By the way Cam you are a racist rat.

            • Gortnamona

              Something else I can agree with you on.

              To be be an apologist for Rangers is indeed a pitiful existence.

              ‘the gem that proves Rangers are the anti Christ’

              Isn’t being violent, vicious, debt-welching, city-wrecking, sectarian, racist thugs enough?

    • Are the SFA watching? Maybe they should be.

  9. the rodfather

    hector – it’s definitely more than 2 sets. Yorkshire Greengos, Motherwell Whiteys, Duff and Duffer, The Rats VI Shadows, The far east fraternity, the Blue Knights (who would profess their non-shysterness), Witheys Cockneys, Dave the King of Tax Evasion and of course Sir Minty EBT Moonbeams…….. and that’s just the ones that are obvious!!!!!!!!!!!!!!!

  10. @gortchomhor

    Excellent post, Paul, well done that man…

    Basically, Green and Whyte and possibly two other directors owned Sevco 5088 which had the exclusivity right to buy rangers’ assets. Green basically blagged the assets, it seems, by saying that Sevco 5088 had relinquished its right to buy, in effect giving the opportunity to Green’s new company Sevco Scotland.

    The proof of Sevco 5988 relinquishing its right to buy, referred to as a novation agreement, has mysteriously disappeared…. In the minutes of the board meeting they discuss it and state it’s lost. Just as well it’s lost.

    • novation agreement

      Did it ever exist ?
      seriously, was there ever a piece of paper that could prove that GREEN switched “his” company from Sevco5088 to SevcoScotland.

      surely, who ever drew up the document has a copy,
      proof on file that it existed

      • ecojon

        @ coatbrigbhoy

        The minute confirms a written agreement between D&P, Sevco Scotland and Sevco 5088 to switch Sevco Scotland for Sevco 5088 in the APA as the acquiring company of the Rangers assets and business. This is minuted in the 31 October 2012 TRFCL Board minutes and I think it happened on 14 June 2012 immediately after HMRC rejected the CVA.

        When exactly CW knew it had happened I don’t know but if Green was the only director for Sevco 5088 Green could have been totally out of the loop. But I’ve always been a bit surprised at how long it took him to react unless he was trying the softly softly approach and just got fed-up and brought in CF.

        • Eco, And worthington? or was that much later?

        • Gortnamona

          ” if Green was the only director for Sevco 5088 Green could have been totally out of the loop.”

          Do you mean Whyte?

          If Green only director Novation legal?

          Novation missing obviously illegal to me.

          Does it come down to who a judge believes?

          I don’t envy him his job.

        • @gortchomhor

          Green has admitted being involved with Whyte as far as Sevco 5088 is concerned. He said it was necessary to deal with him because the CVA might be accepted and he’d be forced to deal with him. So, in principle, we know Green and Whyte had an arrangement which involved using Sevco 5088 as the purchasing vehicle. Green admits that.

          If we can establish that the Sevco 5088 deal was based on more than a verbal agreement, the game is more or less up for RIFC.

    • I bet CW has a recording of it even though the hard copy has disappeared……..

  11. Greenday

    Fascinating ….. Yet still dead ….. Luv it

  12. Maggie

    Great to have you back eco,even if it’s just for a visit.
    Excellent post,up to your usual standard.It’s not boding well for Sevco ( either one ) is it ? Keep digging eco.

  13. Steerpike


    If CW/Earley were made directors of Sevco 5088 on the 9th May 2012 and the agreement was signed on the 12th May 2012. why was CG needed at all? CG was hardly a front for CW if CW was listed as a director, and wasn’t CW banned for life from Scottish football on the 24th April 2012?

    Is it not more likely the whole deal was kept verbal( You are Sevco), and CG was the sole director, he told everyone concerned about the new company switch, and simply cut out CW/Earley and kept their hidden agreed share for himself and Ahmad. The original investors stayed the same and were none the wiser about any CW/Earley involvement.

    • Raymilland

      “The original investors stayed the same and were none the wiser about any CW/Earley involvement.”

      The defense rests M’lud 😉

    • @gortchomhor

      I can see why that theory, if true, would suit you as a Rangers fan. The evidence, however, suggests it is not. You can become a director without anyone needing to know about it right away. Importantly, the proof of who the directors are is missing.. Note I say are and not the past tense were, since the company Sevco 5088 still exists.

      Charles Green was to front the company initially with Whyte to reveal his hand and directorship role at a later date when the political climate was improved. Whyte has stated that he felt hard done by in terms of how he was depicted in the media and wanted to recover his reputation in the eyes of rangers’ fans. I’d bear that in mind, he would have no reason to lie on that point.

      As for the documents that would prove this, the forms that establish Whyte and Earley as a directors, complete with Green’s counter signature (as required), have already been seen. They have however been removed from the Companies House website. The annual report for Sevco 5088 hasn’t been submitted which is important because that too would reveal who the directors are.

      Another thing that is missing is the document that would have transferred Sevco 5088’s right to buy to Sevco Scotland. This is being referred to as a Deed of Novation. Find that document and the story is over. The official story based on the minutes released by Charlotte is that this document is lost, it seems.

      Assuming the novation document exists or did at some point exist, and if, as Whyte suggests, he did not consent to Sevco 5088 relinquishing its right to buy Rangers assets, and he did not sign that document, then we must ask who did…. someone must have signed on his behalf. You have now probably entered the realms of criminal law. If proven to be true, the acquisition was unlawful and wouldn’t need to be rescinded. Technically it didn’t happen: Sevco 5088 still owns the assets.

      • ecojon


        Just a little point: When you mention the missing novation deed in the TRFCL minute of 31 October 2012 that actually refers to the loan involving Imram Ahmad.

        Novation deed isn’t mentioned wrt the transfer of acquiring party status from Sevcom 5088 to Sevco Scotland. What is mentioned in the minute and I refer to it in my post is that there was a written tripartite agreement over the transfer which D&P, Sevco 5088 and Sevco Scotland were signatories. That document has never been published afaik but I doubt that it is missing.

        The Whyte and Earley director appointment forms have been removed from public viewing by Companies House Registrar as I stated in my story although I have my original copies and they can still be purchased online from a number of companies or viewed on I think it is an STV online story.

        I would agree with most of your last par but the problem is that CW has no intention of going to court or getting involved in criminal charges if he can help it. He just wants a pay-off and he’s close to getting it and CF closing shop I believe is him showing-out that he can be trusted 😦

        If he gets the right pay-off he’ll defo walk away but I’m not sure who the paymaster will be as I really ain’t sure that Ahmad and Green have enough loot to make him happy.

        I have no doubt he has the means to destroy Ibrox but that truly will be his last act as it ensures MAD.

        • Raymilland

          Mutual assured destruction?

          I can’t see any realistic pay-off other than a sale and leaseback deal which benefits CW. It’s always been about the assets.

          Green & Whyte have the capability to bring down the house of cards, which would appear to be their intended end game along.

          The switcheroo is so clumsy and obvious to be anything other than a ploy to create havoc for every party involved; including D&P. BDO would be reluctant to intervene.

          The SFO investigation would only add fuel to the fire. Who in this affair is willing to call the bluff of Green & Whyte?

          Once the realisation kicks in that season ticket money is to be diluted to pay the Ibrox landlords; while lack of funds for the manager becomes more of an issue; the loyalty of the fans will ultimately wane.

          When all else fails, the assets will remain a five star prize.

          Ham actors perform blackmail, call the fraud squad 😉

        • @gortchomhor

          Hi Eco,

          You say;

          “What is mentioned in the minute and I refer to it in my post is that there was a written tripartite agreement over the transfer which D&P, Sevco 5088 and Sevco Scotland were signatories. That document has never been published afaik but I doubt that it is missing.”

          I’m describing this tripartite agreement as a novation, apologis for the confusion. I believe the term Deed of Novation is also used in the minutes you mentioned: section 8.1 which states ‘it was noted that the minutes for 7 June…contained some omissions… Did not append the form of deed of novation to transfer the obligations of Sevco 5088 limited to the company in relation to the loan facility. The company acknowledged this deed could not currently be located…’

          My guess is that if there was a deed of novation it would have included everything, not just the loan facility. I don’t exclude more than one such document covering different matters but it doesn’t make much sense to novate things separately and as the minutes I’ve quoted suggest we are talking about the obligations of Sevco 5088 being transferred here to Sevco Scotland. Can’t think why more than one novation would be involved rather than just one that covered everything in respect to the exclusivity obligations to buy the assets and “placee” shares etc.

          I think we are all pretty sure that a document or novation of some sort would be necessary and that we don’t have visibility on it yet. The minutes refer to it as you say and imply three signatories. The question follows, who signed for Sevco 5088 and did they have the legal authority to do so?

          You can view at least one of the AP01 forms, appointing Whyte director of Sevco 5088, on this website, and as you can see its signed by Green:

          I don’t see why the transfer of assets wouldn’t or couldn’t be nullified if it is shown that the novation was incorrect (euphemism or what). These things happen with cars and property all the time when a sale is deemed to have involved say stolen or misappropriated goods.

          I also don’t rule out the possibility of BDO doing something dramatic. It’s is small beer by their usual standards and if they decide to nullify the transfer of assets then that’s what will happen. Dog’s dinner but its a dog’s dinner no matter what happens once you accept the novation/asset transfer was improper.

          I doubt if Green has enough cash to buy off Whyte. Whyte would be happy to get Ticketus off his case so maybe RIFC could inherit that debt and that would be enough — at the end of the day it is a debt that I think Rangers fans and RIFC should pay. The money owed to Ticketus, after all, went straight to Lloyds in effect and has its origins in borrowing the club did to buy players that it benefitted from etc. Fans conveniently like to forget what the Ticketus money was used for.

      • Steerpike


        I am a Rangers supporter not a Rangers fan, never mind let us press on:

        Your scenario makes some sense, CW/Earley were made directors of Sevco 5088 on May 9th 2012 and this was the vehicle that was intended to save Rangers through a CVA with CW handing over his shares of RFC for £2,. CW redeems his reputation and gets a small share in RFC as further compensation,nobody cares he has a small share, he has salvaged his reputation and clawed back a wee bit of money.

        This being true, the key question in my mind, which also applies in my scenario, is what was his promised share ?

        ” A curious reference to Founder Shares is noted in the TRFCL 31/10/2012 minute that 2,199,900 shares were allotted to Charles Green in Sevco Scotland but that shareholding isn’t publicly replicated in Sevco 5088 so where is the ‘mirroring’ of shareholding in the two companies? ”

        It seems the agreement may have involved 2,199,900 shares, since this is the only discrepancy between the mirror shareholdings between the two companies. This agreement is valid whether it was verbal or official.

        How much was this worth, and who is liable ?

        I cannot answer the former, but the latter must be CG acting unlawfully as a director of Sevco 5088, nothing to do with Sevco Scotland, they were a mirror with the exception of these shares.

        • Supporter of a club – one who attends, pays at the gate, SB’s buy’s mechandice.
          Fan – looks from afar admiringly.

          your not clear steerclear on your other posts what you are, but seem so now. Hmmn.

        • Steerpike


          There are two pieces of evidence that persuades me I am right and you are wrong.
          If the audited accounts of Sevco 5088 prove CW/Earley were directors on May 9th 2012, then why would RIFC strengthen the link between them and Sevco 5088 by declaring it a subsidiary of RIFC ? One would think they would have disassociated themselves from Sevco 5088.
          Secondly, if CW was a director of Sevco 5088 then by June 14th he must have known he was getting shafted, but he did nothing until much later.
          This suggests that he trusted his deal was still on with Sevco( Scotland) and CG was ” keeping his shares warm “, he may even have accepted the Scottish company switch excuse to remove Ticketus from the equation.

          The timing suggests he waited to hear from CG about his shares, and nothing happened, he didn’t care about recovering his reputation anymore, Rangers had got liquidated by his non compliance.

          I still plump for the verbal agreement, and the 2,199,900 shares.

          p.s. The fact all 3 directors may have signed the directorship forms does not mean they were submitted in that format, maybe CG just tore it up when they went out the door, and registered himself as the sole director.
          The closeness to the CVA decision may not be a coincidence, possibly CG was thinking two steps ahead and was preparing for option 2, liquidation.

          • @gortchomhor

            Audited accounts of Sevco 5088? Where? They haven’t filed accounts:

            As for the attempt to claim Sevco 5088 as a subsidiary, lets bear in mind that worthington also claim it as a subsidiary. By definition that puts its ownership in dispute.

            But my guess is that Green wanted to seize control so that he could kill it off — he tried to have the company wound up but his attempt failed… If you think about that it must have failed for a very good reason in the eyes of companies house, they refused to strike it off — and by killing the company he would kill Whyte’s case to an extent and kill all ties. We are guessing about the motives of a man who I think I think is quite slippery and mysterious though.

            You assume Whyte did nothing but sit and wait. I have no evidence of that and no evidence to the contrary. We know he was contacting them in November and December in the run up to the flotation and we know it was done formally and legally. The space between the CVA and then, who knows what went on between them? No evidence doesn’t mean nothing happened but fundamentally I think it’s immaterial.

            I don’t think the ap01 forms were ripped up, I’ve seen them… I put a link in a post above to at least one of them (the one that appoints Whyte).

            • Steerpike

              morning gort, I clearly said IF the accounts and we do not know if the missing document is the one you have seen. As I said I have no doubt CW has a claim against Sevco 5088 and CG for a small share, but the sale will not be reversed for what is a directors dispute involving a few million shares.

              It will not affect TRFC in my opinion.

            • Raymilland


              “It will not affect TRFC in my opinion.”

              Whyte (Worthington) shall force the issue until it affects all connected to TRFC

        • @gortchomhor

          Couple of points, steer….Sevco 5088 was also committed to buy the assets if the CVA Failed. Green arguing that it would serve only as a vehicle for the CVA is a bit of a joke really when D&P made it clear to the world that Sevco 5088 would be buying either way.

          I think you, me, and everybody now acctepts that Green’s relationship in terms of Sevco 5088 went way beyond a verbal agreement. We know money changed hands and there’s piles of circumstantial evidence to suggest they were formally tied as directors of Sevco 5088.

          I took the mirroring to be a reference more to structure rather than share allocation but my limited intelligence might have got in the way there. I think the share division is complicated and don’t fully understand it.

    • Felpen

      It did not matter if CW was banned from Scottish football as it was an asset sale of building’s which included the remains of a football club. But the club itself had lost its membership in Scottish football. That’s why Sevco had to be voted in. As it was a new Club.

      • Steerpike


        CW’s shareholding existed for both CVA and Liquidation, however a minority shareholder may not be required to pass any fit and proper test, only those who govern the club.

  14. cam

    An upside down pudding, cobbled together from the manaical fantasies of a bunch of loonballs on a site that keeps nutters out of public life.
    Based on the documents released, possibly illegally, by a like minded loonball and highly dependent on the word of this little individual.

    So tell me Mr Whyte,btw,that is your real name?,why should i accept at face value your testimony here today?

    Pause,,,hushed silence

    Then a titter ran round the room.

    They didn’t catch the titter, but police are looking for a guy in rigger boots, a Celtic top with Mik on the back,carrying a shovel.

    • @gortchomhor

      Cam, nobody here today has said anything that rests on an assumption that Craig Whyte is any kind of angel who never tells lies. That issue is unrelated.

      • Steerpike


        ” Cam, nobody here today has said anything that rests on an assumption that Craig Whyte is any kind of angel who never tells lies. That issue is unrelated.”

        Hmmmm, but Brian Stockbridge and Craig Mather are liars because CG, CW, SDM and Ahmad were liars.

        Consistent thinking gone awry.

        • @gortchomhor

          I equally don’t trust a word any of them say. I don’t trust any politicians either. In fact, the higher up the social ladder you go, the less I trust everybody…

          But, my point is we are looking at evidence not what people say. In your assessment of accounts you seem quite happy to trust what people like stockbridge and others have said. I think that’s a flawed approach generally and just stupid in the case of RIFC. A cursory glance at the recent history of rangers explains why.

      • cam

        Incorrect.Eco’s entire post is based on the release of unverified documents,e-mails and tape recordings,drip fed by someone with an agenda,just at the same time that an individual is in deep shit and is trying to earn some much needed cash.
        As you’re probably aware,all of this verbal posturing is completely superfluous.The verdict is in,the urban myths are well established.
        This is all ribbons and bows and i’m tying a big red nose on it.

        • @gortchomhor

          In all the evidence that Charlotte has leaked, and there’s a lot of it now, I have not heard one of the people implicated by it saying anything along the lines of it not being genuine or that it’s false or faked. Not one.

          You talk about trusting sources, by that token, why should we trust or even heed what you are saying about charlotte’s evidence when nobody else is saying it?

  15. tamtic

    Whit a parcel o’ bloody rogues! I tell you Eco i’m bamboozled by the whole lot. Call the cops

  16. Good to see you back Ecojon, and on such fine form.

  17. Steven Brennan

    Cmon the Kenyans
    Eventually reaping what was sowed!!!

  18. hector

    @eco hi we have never met but could you apply your in depth knowledge to a problem that keeps me awake at night.WHEN Sevco goes tits up who gets the 3rd division title.

  19. Arb urns

    From memory the iPo novations were all from sevco 5088 Chico even lobbed in 25k , may well have been something about escrow in the lba and lbc in relation to the switcheroo…..Imrans mum received cw share of the 200k mentioned above I would think……this contractually obliged bit in the event of the cva failing should to me have been challenged at the time….that court that allowed d and p appointment have a lot to answer…hmrc should have grown a pair day 1……

  20. mick

    What a great return ecojon well explianed and set out for all to understand Sherlock Holmes would be well proud to be part of this article of the year and no doubt msm will be lineing up to steal it just like your work last year .no ecojons back we better all clean up our act and sstay focused on the topic and not let side shows throw us of the clues lol 🙂

  21. Steerpike

    Charlotte Fakes release one last tape:

    Legal Aid defense attorney( LADA) and Craig Whyte in Carstairs secure unit.

    LADA: For the record my client is curled naked on the floor in the fetal position having been passed fit for the undertaking by LNS.

    LADA: What was your relationship with Ticketus ?
    CW: The bastards stole my ornaments.
    LADA; We will get to your servants in a moment, now about Ticketus ?
    CW: Nobody pays HMRC unless they have to, I didn’t have to.
    LADA, Yes indeed, now back to Ticketus.
    CW: I am a fit and proper person, talk to Mr No Legs
    LADA: I understand, now Ticketus.
    CW: Duff and Phelps ate my hamster.
    LADA: Mr Whyte you do realize Ticketus are suing you for nearly 18 million ?

    2 minute pause:

    CW; I know I have made some very poor decisions recently…… my mind is going Dave….. I can feel it Dave….. there is no question about it….. I can feel it…. I can feel it……. I am afraid Dave.

    Good afternoon gentleman, I am a Hal 9000 computer and I would like to sing you a song.
    ” Daisy daisy give me your answer do, I am half crazy…..”

    • Dan

      Steerpike, can we agree that that was one shite movie?

      • Maggie

        Oh for the love of the love of God,he’s attempting satire now,just when we thought it couldn’t get any worse dan.
        I wish JohnBhoy would return and “whup his sorry ass” 🙂

      • Steerpike


        Nope, it is a classic, it cleverly slips an unseen agent into the evolutionary process, a sci-fi explanation for the dawn of consciousness.
        Modern studies of primates and other social mammals have destroyed this fantasy, they all possess the rudiments of awareness, we just evolved a greater quantity. The unseen agent is actually language and social mammals need communication to survive, the greater the number the more complex the language, the more complex the language the greater awareness, most social primates think in pictures and a few words, we think in pictures and a lot of words.

        In the beginning was the word…….

        • cam

          Niall, as one who proudly still thinks in pictures,the image of Craigie in the foetal position,falling apart, is the picture that is worth more than a thousand of Eco’s words.

    • @gortchomhor

      It’s full of stars… Unlike your team.

    • Jaysus, stick to the business plans and projections, that very near made my eyes bleed.

      to be honest, i could not argue with your last 4 words in the post, trying shouting them out loud after you’ve phoned the mental heath people in Methil/East Kilbride.

  22. Maggie

    I didn’t realise you were talking about this david.You’re mistaken about him hector.He’s a long term contributor and IS a neutral.He’s a good contributor,isn’t a bigot at all,tho he and Monti have a lot of ” history” it would be fair to say 🙂 I like david,he’s a decent guy and very far removed from Mr Walker.

  23. Dan

    Eco, nice one. You can always tell the measure of a post by the nastiness it receives from our resident turd—–know who I mean? ( I hear he’s still fond of a Farley’s Rusk dipped in milk.)

  24. Monti

    Celtic football club will participate in the cash rich, Glamour European tournament, the European champions league, this season.
    second rangers have already been knocked out the Scottish league cup by Forfar Athletic. Second rangers are close to death!

    Graffiti on the wall….

  25. Winston Churchill

    I cannot forecast to you the action of Sevco . It is a riddle, wrapped in a mystery , inside an enigma; but perhaps this is a key . That key is Sevco national interest .

  26. @gortchomhor

    What follows is taken word for word from the BBC website, titles etc all intact as below. Can someone explain why saying this now is considered controversial or upsetting?

    12 June, 2012. Rangers in liquidation Q&A

    What happens to the club’s history?

    The Rangers Football Club PLC is a public limited company registered in Scotland (company number: SC004276) and was incorporated on 27 May, 1899. When the current company is officially liquidated, all of its corporate business history will come to an end.
    When this happened to Airdrieonians in 2002, all of the trophies, titles and records associated with the club were discontinued and a new club, Airdrie United FC, took over. Airdrieonians’ official history ended in 2002, then Airdrie United’s took over.
    The answer lies principally in the eye of the beholder. Some supporters will view the new Rangers as the same Rangers, while others will feel the old Rangers no longer exist.

  27. Looks like gort has scored bit of an og ! Highlighting plc in 1899 …but the mighty Rangers were formed in 1872 ! Oh well that’s that then ………next .


      it’s on the official webshite NOW

      “Rangers formally became a business company. Rangers Football Club Limited was established in March 1899”

      Rangers BECAME a business company, nowhere does it state that Rangers formed a business company seperate from the club, Rangers BECAME……………then it died.

      • The club was incorporated in 1899, they became one with the company, one entity, speaks for itself, so there ye are, company deid club deid all rolled up in one and then gone, seemples.

        Of course they knew that already, let them be rangers so long as they know they are not the old rangers, they are the new rangers.

        • Let them be Rangers ? You muppet don’t count ..we ARE Rangers , not old , not new , just Rangers and like your no mark mates your opinions count for jack shit.

          • just Rangers, one 4th tier title to date,
            tell that to the nutjobs having yet another go at the BBC

          • The new rangers, the old one is wrapped up with the old company, inseparable, in liquidation, awaiting the final blow, no longer operable, they are in fact the living dead, they no longer function, that is why the sfa membership was taken away. Sevco started off with a provisional membership in a game against brechin and then sevco became the the rangers.

            So we have rangers who robbed off and lied to the united kingdom and her majesties inland revenue and cheated their fellow sports clubs, which brought about its demise, sevco took its place after buying the assets left behind, then sevco became the the rangers, two different clubs, three different names, greedy barstewards. Brand new club.

          • Pie man hates bridies!

            @arsho’/hookersring…Touch a wee nerve there when you are told the stark reality of your old club having died?

      • Our beloved club formed in 1872 lives on and that really pisses you off !!! …….141 years …formed by the gallant pioneers …and for the love of football alone.

  28. Monti

    @ Steven Brennan
    I’ve just tuned in m8, what’s this about Kenyans?

    • Steven Brennan

      Colonel Edward Loden of the para regiment, on holiday in Nigeria,
      Commander of the soldiers in Londonderry 1972.
      Aint coming home, the locals dished out a bloody Sunday of their own.

  29. Monti


    Stay out of the black & stay in the red
    Sevco are fucked & nearly dead,
    All over at Xmas, I’m afraid it is so
    Niall, Carson & Graham..HO HO HO!

  30. Johnbhoy

    You say “Sevco Scotland is the predecessor company to TRFCL”

    No, Sevco Scotland is TRFCL. Same company just a name change.

  31. notnearlydeadbutreallydead

    I always give a call way smile that the nastiness and bitterness in carson/coolerking(2names?)posts rises as bad news is about to flow from ‘Govan franchise’. Just sit back and enjoy. It’s like watching a cat toy with a mouse. Cruel but fascinating. His pain is for all to see, let’s be there for him

  32. mick

    David your very rude tonight your not usually is the truth facts in the article got you raging lol

    • Mick ! Did monti give you back the braincell ?…just checkin.

      • mick

        Hi. Carson am not biting on such a wonderful article yous should listen to ecojon this time as he genuinely has yous at heart and is trying to stop spivs robbing yous if yous had heeded his warning last year the sale would not have went throw and there would have been no spivs you know it’s serious when Eco appears joining thee dots to why admin 2 is on the cards

  33. Arb urns

    I wonder how often the fly on the wall in d and p office has heard the following phrase ‘ they can’t prove that can they ‘……. BDO should get to the bottom of it all but who knows……suggest craig w, Imran, Charles and d and p do know what’s happened…..along with some others ‘bombing ‘about the place……

    Ticketus well they can always sue trfc after all they have had the gall to take the income from these season ticket seats twice and ticketus can call on 50000 witnesses to testify it is the ‘same club’ in court………

    Lady Dublin presiding…..

    Niall Steerpike Walker ( expert witness)…. You wrote on ………………in the random blog that trfc honoured their obligation under their undertaking to play association football and can therefore be termed as the same club as rangers fc…..yes m’lady……. Gavel down case dismissed found in favour of the plaintiffs trfc you have 28 days to pay the sum of 26 m to ticketus octopussy…..

    • Raymilland

      @Arb urns

      🙂 🙂 😉

    • Steerpike


      Don’t think I do not appreciate your elongation, I believe Ticketus agreed a contract with a company, and the LNS ruling clearly defines the difference between a company and a club.

      ” William Austin Nimmo Smith (6 November 1942) is a former Senator of the College of Justice, a judge of the Supreme Courts of Scotland, sitting in the High Court of Justiciary and the Inner House of the Court of Session. He retired from this position on 30 September 2009.”


      ” Arb urns, Fifer and text speaker.

      No contest.

      • willy wonka

        Steerpike, again you’re wasting your time. They had their wee feeding frenzy.
        Ticketus were going to sue Rangers for 20 odd millions. That didn’t work.
        Whyte is actually the owner of Rangers. Nope. That’s not correct.
        So what we have now is the tiddlers feeding on the scraps of rumour and [deluded] speculation.
        Let them go. Come back in a couple of months when another of their theories has deflated and you’ll find the Donegal Loon has them all in another collective rapture discussing another layer of garbage.
        It’s what they do.

        • cam

          Lighting fires all over the place and hoping that Rangers run around trying to put them out.
          In a battle and a chess match sometimes its best just to sit and do nothing.Let the enemy make a proper move and then defeat them.

        • Steerpike


          The pattern is beyond predictable, it is almost inevitable:

          CW has some claim against CG for some small shares in TRFC, sprinkle some Philabluster gold dust on it and voila !! CW owns the assets and will get a million a year rent in perpetuity.

          Ticketus remove themselves as a creditor of RFC and sue CW, Phil casts a spell in Latin, and hey presto !! TRFC owes Ticketus 24 million and they will leaseback the assets through Octopus Shmoctopus, which is secretly owned by Whyte Shyte through Zeus Shmoose.

          HMRC go for liquidation to enable Rangers to trade unhindered, Phil smokes a burning bush, looks into his crystal ball and Eureka !!
          TRFC will be liable for the BTC amount under footballing debts, and goes into liquidation again, it is called DownFall Part Deux.

          Seriously this is pure comedy, the blogs are a bigger story than Rangers, they have become the pantomime.

      • LNS from loony to hero

        “an intensely distressed Mr Nimmo-Smith sought psychiatric treatment at the Royal Edinburgh Hospital.”

  34. George

    Simple question. Do we believe all the ‘lawyers’ on this website? Or Pincent Mason? Or Lord Nimmo Smith for that matter. Obsessed is an understatement.

  35. hector

    Goodnight to all with A a pulse B a sense of humour C more than a couple of genes and to D Dave/rearpipe/niall the sevco brothers.Good night and god bless.

  36. Monti


  37. Ed Paisley

    Just give Craigy his £1m per year in perpetuity.
    Mr Whyte successfully “cleansed” the club of its debts and added £50m to its value. The man has surely earned his money.
    They can disguise it as Finance Lease payments or something like that and the bluenose hordes don’t need to know.
    Then Charlotte Fakes will retire gracefully to his/her pad in Monte Carlo just up the road from Johnny Collins and David Coulthard.
    If we need to find a whipping boy to satisfy our desire to see someone punished for this whole sordid affair then I suggest Imran’s ma. The old witch has been hanging onto Craigy’s £137.5k for over a year now – that must be a crime surely.

    • Steerpike


      Put down the crack pipe, CW may get the value of the 2.199,900 shares he was verbally promised, but I doubt this entitles him to one million per year in perpetuity.

  38. lordmac

    the cva they new that’s was not going to happen and craig whyte knew he could not become a director, he used earley to show they had the money to see the books so i believe craig and green made the switch
    making green the frontman then after that was done he brought in
    the men that where on the out side to fund and hand over the cash to duff@ phelps they of course stalled for time as time is money for them
    once the deal was done tickets needed done as green told the inverters they would get there money back plus shares as that was the carrot
    to get them on board whyte new he made a pledge to tickutus, and as i belive they have been trying to get there money out in dribs and drabs
    for them and cenko did not like what was going on and have bailed out and kept stum as they are also due 1million shares and account bill for 1million dont forget there are a few awaiting payment here

  39. @eco
    I am sure that in Craigy’s LBA he claimed, that instead of 5088’s name being changed to TRFC, Chicco changed the name of Sevco Scotland to TRFC.
    Wee Craigy knew it was to be name changed to TRFC, (Probably to stiffen Ticketus). What he didn’t know was that Chicco was killing 2 birds with 1 stone, by sneaking Sevco Scotland into TRFC, instead of 5088.
    Could that be where Craigy fell down, a combination of the false 5088 announcement from Ibrokes, and the confusion caused by referring to only the common part of the company names…..Sevco!
    The only time wee Craigy was “out of the room”, so to speak. Was the actual carve up exchange. He would only have media and telephone confirmation of events.
    It’s a bit like the hustle!

    • cam

      Ah barca,i hear you may have been “contributing” to the cause on the true loonball site?
      I shall pray for you.
      You all shall sit at Craigie’s table.Better bring your own bottle.

      • @Cam,
        If you look to where you heard it, you will be looking at the biggest lying fecker to ever adorn this site. I normally scroll the troll, but the posts coincidently stopped on that very post the other day, and I accidently read it. I have just recovered and woken up again……..What day is it? How long have I been comatose?

        • cam

          Possibly they are confusing you with barcabhoy?
          I do hope you aren’t so sad to join in with hard core loonballs on TSFM.
          Now get back into your coma,,,,Celtic are good,Celtic are good,,,the next voice you hear will be mick reciting Shakespeare,,,,good luck!

          • @Cam
            Those hard-core loon-balls are doing Scottish fitba proud, I understand your resentment towards them, but you are shooting the messenger.
            The truth is, If your favoured club had never committed sidey-ways, then we would have had nothing to laugh at, or on occassions, get angry at!
            Sometimes the first series, is never as funny as the second series, but the script-writers doon your way are on to a winning formula, and its sure to be a “Dave” re-run for zonks……heard that a third series is in the pipeline, and that the producers have penned a spectacular Christmas special. A feature length edition. Where do they get such original material from?

  40. Fisiani

    A few unanswered questions

    Who owns the deeds to Ibrox?
    How much money have Whyte and Green sucked out of Govan to date and ongoing?
    Does anyone think Duff and Phelps acted independently and professionally?
    Do the spivs really think that they can fool everyone?
    Who will go to prison?
    When will Spivco run out of money?

  41. mick

    Wee the Glasgow Irish and were bigger than you no Islamic women would pee on you if you were on fire am righteous Celtic your shit on the worlds shoe willy the fact you have a children’s cartoon name to spells sexcase your beastly repetitive troll

  42. cam

    Well played Rafa.
    Sport at its very best,no whinging,no cheating,two great athletes with total respect.A privilege to have the 4 of them all playing at the same time.
    Federer may be on the slide as time catches up with him but his all time No 1 status is still secure.
    Andy,its time to step up to the plate once again.If Andy can beat a rampant Rafa at his best then he will top even his Wimbledon win.

  43. Arb urns

    The defining moment is on the tapes with that fateful phone call to Patrick…… ” he has signed in both the Scottish and English Form “…………..

  44. portpower

    The game`s a foot. Imperial Pish. 1mm sevco, go save it ? Your`re to grasp to what is is new with the the. Loose what you had twice when it wasn’t yourse in the first place. God Bless The Bank of SHotland.

    You never have. It`s sad. Nae fight left in you sevco. Right footers are only there to make the #`s up. It`s sad! rfc 1872 for 21 years have bugger all. We know the know.

    Port power V Geelong. Tenner on the young Port Bhoys. Lhadies & Ghents.


  45. portpower

    Rizvi sat in a pub with Green and Whyte and Interpol sat and watched?
    In Bruges repeating ?


  46. portpower

    Ummm, sevco what have you done ?

  47. portpower

    So sevco are a Welsh Team?

  48. portpower

    Frontier Pioneers MkII sevco scalped your own.Desperation To anywhere around the world except that IOUbrox. Oh how we Ghiggled. Beware the man you`re having luncheon with ? Asian food`s nice I hear? Greens“ World Tour. Pay the Penny man? Phone book sevco is on the move. You have to love life.


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