Live proceedings and dead money

The men who have been charged today in Glasgow have the presumption of innocence and these are now ‘Live Proceedings’.

Consequently, I cannot write about these matters until they are disposed of.

A ‘disposal’ means that either the case is dropped or there is a verdict in court.

Until then, under Scots Law, there are very severe reporting restrictions.

This also means that there will be a legally necessary curtailment on discussing these matters in the comments section as well.

However, my reporting since 2012 on the creation of Sevco and how it operated is published here.

These events have not surprised me in the least.

Indeed, the news that Mr Craig Whyte was about to be interviewed apropos this current case was broken here.

Until there is a disposal of these cases then I think it will be especially difficult for Rangers International Football Club (RIFC) to acquire a re-listing on any exchange.

Indeed, these developments could not have come at a worse time for the New Regime at Ibrox.

Although the current incumbents in the Blue Room are in no way involved this does have the potential to impact negatively on their business plans.

Until these matters are disposed of in court then there could be a question mark over how the assets of the business were acquired.

It is undeniable that the  loss-making operation at Ibrox is currently unable to access a credit line from a bank.

Consequently, it requires external finance if it is to continue operating until the end of the season.

Moreover, if the validity of the Initial Public Offering (IPO) is also called into question then the door is opened to the possibility of litigation by RIFC shareholders.

That could, in effect, become Sevco’s Big Tax Case, i.e. a contingent liability that scares off potential investors.

Of course, The People will close their ears to all of this.

They are a self-pitying lynch mob and therefore clear reasoned analysis is not their forte.

However, it was the same chaps who railed against anyone who questioned the people behind the creation of the new club.

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