Dave King has been granted clearance to become a Rangers director after a hearing at the Court of Session. Now the South African businessman awaits the Scottish FA’s ‘decision’ on his so-called fit and proper status – even though there is no such rule or test in the rules and regulations of the governing body.
In a statement following the Court of Session ruling, King proclaimed: “I am delighted that at a Court of Session hearing this morning before Lord Woolman my application to become a Director of Rangers International Football Club PLC was granted.
“Today’s decision has removed the final legal hurdle for me to take up my role on the Board following the overwhelming mandate at the General Meeting. The previous Board had raised a little known legal provision stating that because I was a director of Rangers Oldco within 12 months of its liquidation that I must obtain Court sanction before becoming a Director of RIFC because the word “Rangers” is in both company names.
“A Court would not grant leave to an applicant unless it is satisfied that the circumstances warrant such approval. Any affected party, eg the liquidator or an aggrieved creditor of the previous company, has the right to be heard at such a hearing.
“The liquidation of Rangers Oldco and the formation of Rangers Newco were not conducted clandestinely but in the full glare of publicity. However, being aware of the provision I sought leave of the Court to accept my Board appointment.
“Hopefully, this endorsement will also provide the SFA with additional comfort to complete its consideration of my fit and proper status. All Rangers supporters have suffered from the failure of full and proper corporate governance over the last 4 years. I am anxious to play my part in ensuring that this is comprehensively remedied for present and future generations of Rangers supporters.
“I have fully cooperated with the SFA over the last few weeks and thank them for the care and attention with which they have undertaken this task. I must be the most scrutinised candidate in Scottish football history but accept this as being preferable to the lack of scrutiny that has been the case in Rangers recent past – and possibly other clubs. I hope that matters can be swiftly concluded now that, with the permission of the Court, I can take up my role as a director of RIFC.”
The ruling was a mere formality as the case was not focusing on King’s tax convictions but his former position as a director with the club prior to its liquidation.
The 59-year-old was going to court over the Insolvency Act which forbids directors from taking up a position with a phoenix company which has the same or similar name to the former company – that being ‘Rangers’.
As we reported in a previous article over Rangers delisting from the Stock Exchange, the issue of King’s appointment to the Rangers board was a foregone conclusion with the stock market regulators taken out of the picture – hence the reason why the businessman was more than happy for the club to be delisted and away from all the rules and regulations that were imposed on any company or business trading on AIMs.
Within that article we stated that the Scottish FA were [and still are]impotent in any potential procedure to block King from securing the much coveted place on the Rangers board and specifically the chairmanship of the club – currently filled by Paul Murray on an interim basis.
And while King is co-operating with the governing body over his ‘fit and proper status’ even if they miraculously fail to give him their support – nothing will stop him from taking office – and it is my opinion that the Scottish FA would do everything in their power to see King appointed to the board of Rangers to see them hopefully [fingers-crossed] become a strong entity within the game – as all our problems will be solved by two clubs having all the strength and power again – according to messers Regan and Doncaster, making their jobs of flogging our game to sponsors and advertisers easier and built solely on the back of the Old Firm clubs.
It is a crying shame that our governing bodies have more individuals in their ranks in the guise of Regan and Doncaster than we do in the mould of the late Turnbull Hutton. A man who had the integrity, the intelligence and the character of someone who was all about the game itself and stood up for the whole of the game rather than chasing the money that could be milked from two clubs and their respective fan bases.
The hard work for King now begins as he tries to rid Rangers of their toxic reputation, that saw the Stock Exchange wash their hands of the Championship side, and also make good on all those promises he made to the Rangers support over the past few years and in the run up to the EGM coup d’etat.
It’s all money, money, money from now on at Rangers if we are to believe what we are told by King, Murray and those hand fed statements from Level 5 PR [Traynor’s propaganda machine for King & co]. God forbid he reneges on all of his promises.