forlanssister 3,059 Posted September 30, 2014 Share Posted September 30, 2014 What's deal with this mob? Presume they've little on the club but possibly plenty on Green and his gang? They currently own the rights to Whyte's claim against RIFC plc . Ewing Grahame in the Telegraph: "Rangers could face more expensive litigation now that the Worthington Group, the investment company which announced to the Stock Exchange last year that it was staking a legal claim to ownership of the business and assets of the club, has made a remarkable recovery. In April 2013 the group revealed that it would be pursuing the holding company, Rangers International Football Club, through the courts, insisting that Sevco 5088, the company formed by the discredited former Rangers owner Craig Whyte, had been awarded the sole rights to buy the club by the administrators Duff and Phelps. Instead, it was Sevco Scotland, fronted by the equally controversial Charles Green, which ended up in charge, with the former Rangers chief executive publicly admitting last year that he had lied to Whyte to gain control of the new club in the summer of 2012. As a result, the Worthington Group reported Green to the Serious Fraud Office. But its legal action appeared to have been abandoned when the Financial Conduct Authority suspended trading in its shares – then worth just 4p – at the Worthington Group’s request on Aug 1, 2013. However, since that ban was lifted four weeks ago, its share price has soared to £198.50 and yesterday it announced the acquisition of assorted digital media investments. With the improvement in the company’s financial health, it is now in a position to progress the challenge regarding its right to own the Championship challengers. That began last year when the Worthington Group bought a 26 per cent holding in Law Financial Holding Ltd, a company belonging to Whyte who, in turn, is believed to own a 7.54 per cent stake in Worthington. Sevco 5088 is one of the subsidiary companies owned by Law Financial. With a current market value of around £25 million, Worthington is worth around £10 million more than Rangers, who are struggling to raise the money to pay their bills. The Worthington Group did not return calls on Monday, but appear as if they are not walking away." It'll end in tears for Worthington Group shareholders just as it did for Merchant House Group shareholders except of course for Whyte and his cronies who'll have stuffed their pockets. The share price is in pence not £'s and it fell 40p 20.15% today. 0 Quote Link to post Share on other sites More sharing options...
Little General 80 Posted September 30, 2014 Share Posted September 30, 2014 They currently own the rights to Whyte's claim against RIFC plc . It'll end in tears for Worthington Group shareholders just as it did for Merchant House Group shareholders except of course for Whyte and his cronies who'll have stuffed their pockets. The share price is in pence not £'s and it fell 40p 20.15% today. if true,why would they buy £800,000 worth of shares in RIFC? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,059 Posted September 30, 2014 Share Posted September 30, 2014 if true,why would they buy £800,000 worth of shares in RIFC? We don't know if they have or not. 0 Quote Link to post Share on other sites More sharing options...
Little General 80 Posted September 30, 2014 Share Posted September 30, 2014 We don't know if they have or not. should we take the twitter report with a pinch of salt then? 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,299 Posted September 30, 2014 Share Posted September 30, 2014 Ewing Grahame in the Telegraph: "Rangers could face more expensive litigation now that the Worthington Group, the investment company which announced to the Stock Exchange last year that it was staking a legal claim to ownership of the business and assets of the club, has made a remarkable recovery. In April 2013 the group revealed that it would be pursuing the holding company, Rangers International Football Club, through the courts, insisting that Sevco 5088, the company formed by the discredited former Rangers owner Craig Whyte, had been awarded the sole rights to buy the club by the administrators Duff and Phelps. Instead, it was Sevco Scotland, fronted by the equally controversial Charles Green, which ended up in charge, with the former Rangers chief executive publicly admitting last year that he had lied to Whyte to gain control of the new club in the summer of 2012. As a result, the Worthington Group reported Green to the Serious Fraud Office. But its legal action appeared to have been abandoned when the Financial Conduct Authority suspended trading in its shares – then worth just 4p – at the Worthington Group’s request on Aug 1, 2013. However, since that ban was lifted four weeks ago, its share price has soared to £198.50 and yesterday it announced the acquisition of assorted digital media investments. With the improvement in the company’s financial health, it is now in a position to progress the challenge regarding its right to own the Championship challengers. That began last year when the Worthington Group bought a 26 per cent holding in Law Financial Holding Ltd, a company belonging to Whyte who, in turn, is believed to own a 7.54 per cent stake in Worthington. Sevco 5088 is one of the subsidiary companies owned by Law Financial. With a current market value of around £25 million, Worthington is worth around £10 million more than Rangers, who are struggling to raise the money to pay their bills. The Worthington Group did not return calls on Monday, but appear as if they are not walking away." Grahame calling Rangers a 'new club' again I see. If we had a board worthy of name they'd take legal action 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,286 Posted September 30, 2014 Share Posted September 30, 2014 Grahame calling Rangers a 'new club' again I see. If we had a board worthy of name they'd take legal action Wish you had the same journo rules as we have in Germany ... 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,299 Posted September 30, 2014 Share Posted September 30, 2014 Wish you had the same journo rules as we have in Germany ... Never let the facts get in the way of a story. That's the way it works here unfortunately 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted September 30, 2014 Share Posted September 30, 2014 Grahame calling Rangers a 'new club' again I see. If we had a board worthy of name they'd take legal action The amount of shite we have been subjected to by Whyte, Green et al and your main concern relates to a cheap jibe by a two-bit hack. This type of idiocy when it comes to priorities has been a major factor in allowing those who have systematically bled the club dry to do so relatively unhindered. 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted September 30, 2014 Share Posted September 30, 2014 Grahame calling Rangers a 'new club' again I see. If we had a board worthy of name they'd take legal action Where does he say that Rab? 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,299 Posted September 30, 2014 Share Posted September 30, 2014 Where does he say that Rab? Third paragraph. CG gains control of the new club. Utter lies 0 Quote Link to post Share on other sites More sharing options...
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