thelegendthatis
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Sevco: IPO or Cheerio Not sure if this was posted before.
For the many who read last Thursday's post regarding the folly of the proposed Rangers flotation, you probably thought that it was simply another bit of chat about Rangers that ends with Rangers looking a bit silly.
There is, however, something more to it than that.
We know that the flotation has been rushed.
We know that Duff & Phelps job is over and that all BDO need is a date to start the liquidation process.
We know that BDO have the legal right to potentially overturn a sale and freeze assets should it so be required.
Is it that that is what has caused the rush to float?
AIM rulebook rule 2:
An applicant must provide the Exchange, at least ten business days before the expected date of admission to AIM, with the information specified by Schedule One.A quoted applicant must provide the Exchange, at least twenty business days before the expected date of admission to AIM, with the information specified in Schedule One and its supplement.If there are any changes to such information prior to admission, the applicant must advise the Exchange immediately by supplying details of such changes. Where, in the opinion of the Exchange, such changes result in the information being significantly different from that originally provided, the Exchange may delay the expected date of admission for a further ten business days (or twenty business days in the case of a quoted applicant).As I'm sure we're all aware, were BDO to attempt to overturn the sale to Charles Green that would be what one would term as the information being significantly different to what it is currently.
In addition, rule 7:
Where an applicant's main activity is a business which has not been independent and earning revenue for at least two years, it must ensure that all related parties and applicable employees as at the date of admission agree not to dispose of any interest in its securities for one year from the admission of its securities.This rule will not apply in the event of an intervening court order, the death of a party who has been subject to this rule or in respect of an acceptance of a takeover offer for the AIM company which is open to all shareholders.What this means is that Green and cohorts are locked into Rangers until October/November 2013 unless BDO overturn the sale.
Herein lies the sheer genius of Charles Green.
BDO are going to take over the liquidation of OldCo shortly. BDO may well find reason to try and overturn the sale of the assets to NewCo. Should BDO attempt this pre-share issue, then it's a very easy case against Charles Green's Sevco consortium. Should BDO attempt this after the share issue, then it's a long protracted case involving potentially thousands of individual shareholders that would more than likely go past October 2013.
There are, therefore, two logical conclusions that can be taken from this.
Conclusion 1 - By diversifying and expanding the amount of owners of Rangers, Charles Green hopes to prolong any court battle with BDO long enough to allow him to get out of the club with a profit and the other smaller shareholders left with a club that may well not be theirs.
Conclusion 2 - Green knows that BDO will be coming for him and that, should they start a legal challenge prior to a share issue being completed, it will put a freeze on the club's business and they will run out of money. Green then rues his luck, loses his initial investment and walks out of Ibrox with his tail between his legs.
It is a bizarre race against time where Charles Green and the current Rangers board realise exactly what BDO could do to the club and exactly what that would mean in terms of the working capital for the club. Their tactic is to muddy the waters as much as possible, to get as much dirt away from themselves as possible.
Oh there's a final AIM rule I should mention. Article 9:
The Exchange may make the admission of an applicant subject to a special condition.
Where matters are brought to the attention of the Exchange which could affect an applicant's appropriateness for AIM, it may delay an admission. The Exchange will inform the applicant's nominated adviser and may notify RNS that it has asked the applicant and its nominated adviser to undertake further due diligence.The Exchange may refuse an admission to AIM if it considers that:• the applicant's does not or will not comply with any special condition which the Exchange considers appropriate and of which the Exchange has informed the applicant's nominated adviser; or• the applicant's situation is such that admission may be detrimental to the orderly operation or reputation of AIMShould Rangers really be in need of the money earned from a share flotation to cover day to day costs, then if BDO are able to get involved before the share issue, AIM status can (and would) be refused, Rangers will not see 2013.
It's a race to the death.
You're fucked.
Good stuff. Wouldn't expect any comment from the Bennett twins
. Nae pictures. 
Worth a laugh at Rangers Media. For those who do not have £500 to invest in Green's masterplan, they are discussing an 'investment club'.
If you can't afford to lose it, don't invest it! Can see some weans going hungry.
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Do you never tire of repeating the same old lines? I'm sure i've read the same comments from several others on here, almost verbatim.
Sometimes education is a matter of repeating facts until they sink in properly and are properly understood. So if people are trying to help you by repeating the facts of Rangers and Sevco, I wouldn't complain about it. Just be grateful.
After all when you fully understand what has been done to your club, and what is happening to it in 2012 you will be in a better position to make sensible decisions on things like offers of shares.
And who knows, once the facts sink in, you might be the man who will organise the group of genuine supporters who will raise the money to make the club member owned. Either taking it away from the clutches of Charley or whoever comes after him.
There comes a time in life when you have to stand up and be counted. Or do you just want to shout slogans the rest of your life?
Your choice.
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Didn't Charles Green stated that he doesn't want to go back to the SPL? Well that ambition is out of the water.
Wherever they end up, they will march there.
Be afraid, be very afraid.
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There's always ample room for those with no ambition in life. Well done to the diddies.
And your ambition is?
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Do we know for certain that Sevco are struggling for money and where did these rumours come from ?
From Charles Green himself.
The biggest share issue in the world - ever. He said in the press release...
CHARLES GREEN insists Rangers aren't reliant on a successful share issue to achieve their long-term ambitions.
Gers today announced their intentions to seek admission to the AIM market of the London Stock Exchange.
In turn, they hope that will allow them to raise working capital amounting up to as much as £20million.
Green said: "Let's be honest about it, the reality is that this year was always going to be a challenge.
"The minute we were put into the Third Division, in my position as CEO I should probably have made 20 to 25 per cent of the staff redundant.
"We didn't and as a board and an investment team we wanted to keep the management team intact. We've got fantastic staff and fantastic loyalty along with great knowledge and skillsets.
"If you believe, as we do, that Rangers over the next couple of years will go back into the top flights of football in Scotland and Europe, it's important we keep that team around us.
"I suppose this year, financially speaking, is a difficult year for us. It's a start-up year and we've got lots of exceptional costs.
The headline is true. Not needed for long term ambitions as he is going to spend it short term. It is called wages!
The bits in red all say we are strapped for cash.
"Working capital" is to keep the business trading, and allow them to pay the bills.
"Always going to be a challenge", "lots of exceptional costs", "a difficult year for us" all reinforce this message.
Can we not fast track Charley onto Dragon's Den to ask for the money? Would love to see Duncan going beetroot in the face as Green explains how the business is hemorraging money, and Charley has the cheek to ask him to invest Bannatynes' own money.
(Stand well back)Loved the bit about staff having great knowledge and skillsets.
We talking Kevin Kyle here? Ally? Lee Wallace the Wester Hailes gunman? 0 -
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Surprised he hasn't stated the personal conditions to become the successful bidder. (religion, colour, sexuality, membership of clubs and societies, and whether you are 'one of us'. Probably only 'football people' should apply)
Seems a great opportunity for someone who does not support Sevco Rangers to infiltrate the enemy, and slowly wreck havoc.
This just smacks of someone totally out of their (technical) depth. Even the most diddy of clubs (that I know) who run forums on their website have the expertise to handle such jobs.
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We understand the fascination for our greatest of clubs. Really we do.
We know you can't stay away from our club, and your response is 'so what'?
Diddy clubbers - more to be scorned than pitied.
We are not "fascinated".
We have supported your club to the tune of probably over £100 million. So we are entitled to comment on your phoenix scam.
We see you have not learned any lessons, and you are going down the well worn path again that will end in tears - again.
The behaviour of the people who have been running your club, and the behaviour of many of your fans (for forty years and more) have brought shame not just to Scottish football but to the country.
If you can't sort out the shame and disgrace and the mess you are in, then either wind the whole thing up again, or we will do all we can to do it for you.
And just in case you are in any doubt, Rangers (the "greatest of clubs") went belly up, totally. The team you watch today is NOT Rangers.
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Honestly unless the Bears organise themselves and do it quickly (and not the RST) then the simple truth is that they are going to arrive at a situation where they will have to stump up or watch their club enter ADMIN2. Green will simply press ahead with this sideshow and deflect questions for detailed answers (remember he has NO OBLIGATION TO DO SO nor to produce any meaningful prospectus and let's face it if his plan all along was to float this early - WHERE IS IT?) until the doomsday hour approaches.
Unless the Bears put pressure on him to provide detailed answers, sooner rather than later, then he will simply sit back.
The Bears cannot simply 'wait and see' as they will only be faced with one scenario .. stump up or watch the inevitable. They may as well make their choices now as some have so admirably done on here (I'll pay my £500 or whatever sum .. write it off and pray for the best) as the circus will roll on until that moment is upon them.
I think the term is they are 'caught between a rock and a hard place' .. They either face that reality or take action now (what that entails is not for others to figure out).
I think my post (just below yours) is saying the same thing but in a different way.
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Was wanting to respond to a reasonable posting from Billy (a Rangers fan) but can't find his post, or can't be bothered wading through the 'they have it in for us' postings.
We can argue about the potential world market for Sevco Rangers, and there will be a real figure somewhat south of the one Green will pump at us. The home crowds they are getting are impressive. The column inches they still get is amazing. And there is a chance of £20mill being pumped in to pay off current shareholders, build a bar, and ....well I'm not too sure what else.
The passion and commitment of the old Rangers fans is outstanding.
However many seem to think the world is against them, or at least those who are not 'one of them'. They also state on here that there are many ok guys who support Rangers.
What gets me is why, why oh why did the fans not get together and buy Rangers through Duff & Duffer when they had a chance. We have had the sham supporter group under Paul Murray, the McColl talk of an offer that lasted all of about 2 days. But such groups are led by dodgy characters who will play the 'I am one of you' to get the supporters on side. But will always be in there to make a good financial return. The better way I refer to is a group of real supporters, set up as a cooperative or some such. After all if it works pretty well for Barcelona why not Rangers?
To get the club has cost Green is next to sod all (in net terms - I am sure someone has the figure). And with the AIM listing to come he will soon expect to move into profit.
So Rangers fans. Rather than bleat on about Alex Thomson, Craig Whyte, or the keyboard heroes like myself, please tell me why your many fans couldn't get together, pull the promise of say £10million together, get a couple of serious negotiators on board, and get the club into your own hands.
That way you could move beyond being ripped off - as you have been for the last 20 years, take the club the way you want to see it go, and have something you you genuinely belong to, that also belongs to you.
The chance was to escape the clutches of the greedy self serving big time charlies. That chance was missed. Why?.
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Excellent article.
Let's hope the company handling the information being sent out to those interested in "investing"
in Sevco Rangers will print out this article and enclose it in the packs.At least it brings some clarity to Green's tactics. And I thought he was just mad.
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I had high hopes when Thomson started reporting on Rangers and Scottish football. The guy has serious credentials and I welcomed his reportage.
However, he has made a total baws of it - and this blog post just shows what a fanny he has turned in to. It's a simple diatribe without citation, evidence or substance.
Just ask anyone about Raith Rovers where people felt they had to guard their ground overnight.
The context to that abortion of a blog post is this:
- Thomson wrote a foreword to Phil The Social Worker's book which was due to be serialised in The Sun.
If you want to brand people by association, suggest you start at home.
- Phil The Social Worker is an anti-Scots racist (despite being Scots).
OK he plays the Donegal card (pretty pathetically in my opinion), but many others play an Irish or Ulster card.
- When this was pointed out to The Sun they pulled the serialisation.
What was pointed out? Pulled through the usual intimidation. Booksellers keeping it under the counter. Burning books smacks of Nazi times with the updated version being extreme Muslims. Nice bedfellows
- Thommo was left looking like a total idiot.
Where does this come from? Why not just start with this statement. Doesn't relate to any of the above.
Now when things go wrong for you there are two options:
1. Accept that you were ill-advised and apologise.
2. Start blaming everyone else.
Sadly Thommo has chosen the latter option, hence this blog post that my 12 year old son could have written better.
I had high hopes of Alex Thomson. I welcomed an independent voice. To my chagrin he's nothing more than a vain blow-hard.
Maybe vain, maybe a blow hard. But not on this topic.
Maybe this guy isn't a Rangers supporter, but then again maybe he is.
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Many football supporters were active in this forum as Rangers crumbled under Murray and then Whyte, Then through the attempts to crowbar them back into the SPL, with relative success as Sevco had to scam their way into Division 3. A price for their previous bullying and intimidation but still needed amazing courage from some individuals who showed real character when needed.
I and many others 'retired' from the campaign. But today's article by Alex Thomson http://blogs.channel...ngers-fans/2873 is a welcome reminder of the cancer that is Rangers. A cancer we tolerate and as Thomson complains is tolerated by many with more power than we do. Not least the police.
With people like Green and McCoist in charge we know the way ahead will not be based on honesty, integrity and definitely no humility A club that wants to play to its own made up rules, while trying hard to ignore the rules everyone else adheres to.
This is the club who scammed the taxman (= the UK public), who lied and cheated, and has a large proportion of thugs and louts amongst their support.
All their protestations of loyalty to Queen and country we know is a complete sham. A web of deceit but a version that suited them as they ignored the laws and bullied their way through Scottish football.
We must never forget how corrupting they are, and with regular reminders it is important to keep the pressure on those who are tempted to show sympathy and support to them, especially Government, the SFA, and EUFA.
They should have no place in sport or Scottish football, and the work has to continue to remove this cancer from our midst.
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Maybe.
Have registered to buy £10k worth of shares. My number is 10 thousand and something. Pretty good for a couple of hours. Unless they did the old trick of starting at 9,500. Hopefully some of them and genuine.
Can't wait to see how Charley tells the story in the prospectus without being clear how much he will get in his back pocket.
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Depends on who's underwriting the issue and to what level. That could be very interesting when revealed.
Has Green got anyone to underwrite part or all of it? Would be amazed if he has. All he can hope for is the more idiotic supporters put their hands in their pockets in another last desperate attempt to bring Rangers back to mainstream football. A laudable ambition, but this is not the way to do it.
Our new bulletins over the last few months have been full of David Murray. Craig Whyte, Charles Green, Lance Armstrong, Jimmy Saville. A consistent picture has developed of people who claimed to be great guys, successful, leaders of men. Instead we now know them to be thieving' lying fraudsters.
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The proposed regeneration of the Ibrox area is obviously laudable but unfortunately for Newco fans and the denizens of said area, it's extremely unlikely.
I asked my wife, who used to work in the property development field, her opinion on this proposal which includes purchasing and redeveloping brownfield sites and re-opening a railway line, building hotels, etc.
She reckons with EVERYONE on board, ENOUGH MONEY and EVERYTHING going according to plan, it would take 5-7 years.
Now, there is no way a plan like this would run smoothly, so my estimate would be nearer 7-10 years, maybe more.(more likely never) This would be of absolutely no help to Newco at the moment. This is just window dressing to get the gullible to buy shares as has been said on here many times.
OK, where do I register my intention to buy shares?
I intend to be Mister Gullible
Until they ask for the cheque
P.S. Anyone have an image of Mr Bean wearing a Rangers/Sevco scarf?
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Rangers asking you to call a 0871 number...
Many people don't realise that there are many phone providers offering cheaper calls to standard telephone numbers (those beginning with 01, 02 or 03), which don't apply to 0842, 0843, 0844, 0845, 0870, 0871, 0872 or 0873 telephone numbers. - Please see the links page and click on Cheapest Call Provider for price details. ..... you can reduce your call cost on standard telephone numbers to as little as 5p fixed cost (regardless of duration), whereas the cheapest provider to 0871 numbers during the day that I am aware of charges 10p/min (+ 12.5p connection fee [with BT]) to call.
http://www.saynoto08...mpanysearch.php
Rangers numbers listed Use 0141 NOT 0870 or 0871
Rangers FC 0870 600 1972 0141 580 8500
Rangers FC 0871 702 1972 0141 580 8500
Rangers FC 0871 702 1972 0141 580 8819 COMMUNITY football coaching
Rangers Football Club Ticket Office 0871 702 1972 0141 580 8501
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You can register your 'interest' at http://www.rangersshareoffer.com/
They say the site will be up and running from 5pm today. Unless Duff and Duffer are in charge and it will be available sometime around Christmas.
Make sure you get on their mailing list. Get Charlie boy excited about the amount of money he will be able to pocket.
Will put David Murray's £6 million from his EBT in the shade.
And just in case, you can have a read of http://www.fsa.gov.uk/consumerinformation/scamsandswindles/investment_scams/boiler_room just so you know what to look out for
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Ian Black signing for Sevco.
Maybe has already been covered here but got the SP on the deal Black is on.
His agent pays his wages while is is on Sevco books. And the deal is if he is sold on, Sevco get nothing and Black's agent gets all the dosh. He has cost Sevco nothing.
So Black's agent is using Sevco to stuff his back pocket with used tenners, just like Green is doing.
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Guess what I dont give a f**k what you think
And as for you Tedi, you just don't think.
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"Johnston stressed that the scheme was simply a device to reduce the amount of bank debt facing the club."
Presume a bank robbery next item on the agenda to "reduce the bank debt".
Charlie and Ally. The new Bonnie and Clyde?
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Only applies if you think we are guilty, which you assume we are
I dont
Tedi, I assume the wee lad in your phoaty is actually you.
Green with his tactics is saying guilty, guilty, guilty. With his bluster he saying guilty as hell but we are going to pretend the SFA is not there. Bit you like you putting your hands over your eyes and all those green monsters disappear.
And we thought Murray, King, Whyte were a bunch of chancing shysters. Green is up there with them.
What is it about Rangers that attract such devious, thieving b*****ds?
Green has obviously conned you Tedi.
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06 August 2012 09:21
A move to liquidate Craig Whyte's parent company that owns 'oldco' Rangers has been suspended.
The Registrar of Companies lodged its intention to dissolve Rangers FC Group Ltd last month.
It had made the decision as the company that owned an 85% stake in what was The Rangers Football Club plc had not been active or trading for 12 months.
However, the attempt to dissolve the parent company, which was formerly known as Wavetower, has been stopped after an "objection to the striking off has been received by the Registrar", a document lodged with Companies House has revealed.
It is unclear if Mr Whyte has lodged the objection to the striking off, while should the Registrar decide the action is once again raised by the registrar a further public notice will be published.
Rangers FC Group Ltd was used by Mr Whyte to take over The Rangers FC plc in May 2011, when he bought a majority stake in the club for £1 from Sir David Murray.
The company, which is registered in London, is currently the subject of litigation from club administrators Duff and Phelps, who are pursuing the businessman and his former lawyers Collyer Bristow for more than £25m.
Last week the Sevco consortium that purchased Rangers' assets completed the name change of the club's business operations. The newco', formerly Sevco Scotland Ltd, has been changed to The Rangers Football Club Ltd, while the oldco, incorporated in 1899, has had its name changed to RFC 2012 Ltd.
Liberty Capital
The group company is wholly owned by Liberty Capital Limited, the British Virgin Islands registered business entity owned by Mr Whyte, which has stakes or links in the majority of his dealings.
Mr Whyte's business associate Philip Betts was a director of the parent company, as well as of the oldco in the nine months before administrators were called in. Andrew Ellis, who subsequently claimed he was duped by Mr Whyte in his takeover of the Ibrox club, is the only other director of Rangers FC Group alongside the 41-year-old.
In March, Mr Whyte used the parent company in an attempt to strengthen his hold on the assets of the club through assigning a debenture to Liberty Corporate Ltd, a dormant company owned by him, of which his father Thomas Whyte is the sole director.
Liberty Corporate Ltd was granted a fixed and floating charge over Rangers FC Group, while it already had a floating charge over all of the assets of the club as a result of the purchase from Sir David.
The former Rangers owners' shares in the club did not come to have any bearing on the sale process as a company voluntary arrangement (CVA) deal with creditors was rejected last month, after HM Revenue and Customs found it contradicted their public policies on non-payment of taxes.
Subsequently, the assets of the club were sold to the Sevco consortium led by former Sheffield United chief executive Charles Green in a £5.5m deal, which also covered Duff and Phelps £2.8m legal fees.
Independent insolvency firm BDO will be appointed to liquidate the oldco at a future date, although so far no day has been set for this to take place. At the time of the asset sale in June, Duff and Phelps said they expected to remain in place as administrators for between six to ten weeks.
Ticketus
In a document released last month, the administrators confirmed there were "no provisions" within their power that would have resulted in Mr Whyte being compelled to deliver his shares to any prospective new owner, which contrasts with their claim during the bidding process that his position was "irrelevant".
The administrators also revealed in the document that the legal battle among themselves, Mr Whyte and the lawyer who advised him on the takeover, Gary Withey, is not likely to reach English courts until late next year.
Originally, the case was scheduled to be held in October, but since then Mr Withey has applied to join the civil action against Mr Whyte, while Collyer Bristow has also lodged claims against him, as well as Liberty Capital and Merchant Turnaround plc - another company linked to the businessman who has not returned to Ibrox since administrators were appointed on February 14.
According to Duff and Phelps, the case is expected to go ahead in the summer or autumn of next year. London ticketing firm Ticketus are also pursuing Mr Whyte over the Rangers takeover.
The businessman effectively funded his buyout using a £25.3m deal with the company for future Ibrox season ticket sales that he used to wipe out the club's £18m debt to Lloyds Banking Group.
After a Court of Session ruling, the deal between the oldco and Ticketus was torn up by administrators because Lord Hodge found that they would be able to do so if it was in the overall interest of the creditors.
The Crown Office has previously confirmed it has ordered Strathclyde Police to pursue an investigation into alleged criminality surrounding Mr Whyte's takeover of Rangers after they received documents from Duff and Phelps.
Thanks for your post. This is what I was referring to as I posted my last comments.
This thread has become a bit scattergun. From abuse of other fans which was missing from the thread for many months, to the ones dealing with the business and legal tracking of what has happened and is happening.
Is this time to put this thread into its own Forum away from SPL, Div 3 etc? Where significant information is exchanged and discussed about Rangers old and new, including the best from RTC (much of which is still valid and ongoing) and Paul McConville's blog. A section where flag waving and mouthy nonsense doesn't exist as we beaver away to flush out the truth and acknowledge integrity where it exists.
This is after all the most posted, most viewed thread on P&B and big enough to stand on its own feet. And will run and run for years yet as The Rangers possibly move through the leagues.
Over to you Div.
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Having retired over the last few weeks from the Rangers/The Rangers/Sevco discussions here, I am concerned the way I see things going. (Not to do with my absence, more to do with many key posters not being so involved).
The Rangers people now seem to think they can flex their muscles again. Demanding no titles are removed, who should be on tribunals, or not. Generally getting their self centered arrogance back, and demanding everyone plays by THEIR rules, or the ones that decide suit them best.
It started of course with the SFA negotiating their future status. Not based on the crimes they had committeed in the past, or the enforcement of the laws of the body they were a member of, but more to do with appeasement. Yes a good word that, appeasement.
Made worse by the demise of the Rangers Tax Case blog which achieved so much in the past.
But there is still so much more to do.
On the side of honesty and transparency there will be BDO, HMRC, hopefully the fraud squad (I say hopefully as I suspect that if left to Strathclyde Police there would be many stones left unturned in any investigation), and the Procurator Fiscal.
But the 'clowns with keyboards' need to work away at the same time. People like Traynor, Chic Young, Keevins deserve the same future roles in Scottish football as Craig Whyte.
Cambell Ogilvie sitting in comfort in the SFA offices at Hampden is an affront to all decent supporters.
We did see at one stage where the uprising had a real voice. A chance to influence the change that is really needed, not the token gesture changes the clubs and SFA talk about. I can see that influence drifting away as the clubs and SPL clubs in particular, supported by The Rangers and the usual medai suspects control the message.
We still have a voice, but we need to keep on using it.
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Is Chick Young dead ?
Not dead. He is is geting on the comeback trail. Trying to reinvent himself as an all round. popular good guy.
He was the subject of an article in the Scotsman http://www.scotsman.com/sport/football/top-football-stories/interview-chick-young-football-commentator-and-broadcaster-1-2450083 which had PR written all over it. He isn't the odious (wee) creep everyone on here thinks he is. He has frends for goodness sake.
Why any newspaper, least of all the Scotsman want to write an article about Chic Young is beyond me? He even claims to be a Hearts supporter.
"Hearts became my team". 
Unless someone who was owed a favour by the Scotsman http://www.mediahouse.co.uk/whatwedo.htm ???
Aye Chic, is it crisis management time. Your jeckit is on a shoogly peg. You've been found out, and found wanting.
Just wait for the same article in the Kilmarnock Standard "Kilmarnock became my team". Or the P&J, "Aberdeen became my team".
Just get on your boat Chic, sail west and keep on going.
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Big Rangers Administration/Liquidation Thread - All chat here!
in Celtic v Rangers, Rangers v Celtic
Posted · Edited by thelegendthatis
I didn't get what I wanted. I wanted to see honesty and some integrity.
I wanted Rangers treated like any other club would be, and that would have meant joining at the bottom rung of Scottish football. Just like Annan had to do.
And under a name that did not 'pass off' as Rangers (who were in administration and eventually liquidation). Just because you buy a football ground and a few here today, gone tomorrow players doesn't count.
So it should have meant Sevco applying to join the South of Scotland league playing the likes of Threave Rovers, Dalbeattie, and Fleet Star.
That was the honest result. We ended up with something different on many counts.