..Or maybe he wants the court to believe this is the case
If the court order DK to make an offer and he can't or won't then then he'll be held in contempt of court. There are criminal penalties for contempt. Including prison. I don't know how DK could remain as chairman if it came to this. That'd mean Rangers losing the investor who put our business strategy in place and puts in 50% of investment needed to run our structured loss.
Apologies, I wasn't meaning you. It's all the posters who speculate from a position of ignoranceIn my defense mate, I only asked a question and didn't try to explain anything
You’d think some may get this,
It's not in court because DK challenged TAB. He ignored their ruling he is part of a concert party controlling over 30% of shares and must make an offer to Rangers shareholders. TAB have taken DK to court to have their ruling enforced.
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Borderline hysterical. Yes, if King loses this action and refuses to comply then the pursuers can, in theory, apply to have him summoned to the bar of court and explain his refusal to obtemper and only then could the court decide if he is in contempt, but this does not happen often at all. I really don't know why civil imprisonment as a possibility is being brought up consider the rarity of it happening in these circumstances and the current stage of proceedings.
It isn't in court because King challenged it.
I was asked to explain what serious consequences there could be for DK and Rangers. So I outlined what in my opinion is worst case scenario for both.
This type of post terrifies me. It seems some have learned nothing. King deserves scrutiny at a microscopic level as does anyone now charged with responsibility at our club. As for rule bending let's define that as say...ebt! After the club 1872 meeting two nights ago which was as insipid and quite thoroughly depressing read...trust! It has to be earned but is there any chance we can stay away from courts. I personally have had enough of it.
This board is hoachin wi these savillite bastards.
If he had, then this shitfest would never be where it is. He would have complied, share offer made and refused and we carry on - Kings refusal to deal with it speaks volumes.
Please document where it states he's worth 600 million? ..unless of course you mean 600 million rand which is about 30 million and locked up in his kids family trust / inheritance - the one he claimed he would spend.
So, link please to this 600 million fortune
Exactly.
I could be wrong here,but I get the feeling such a scenario would please you.
The fact they are potential scenarios horrifies me. And it troubles me a lot this court case is happening.
I’ve been dipping in and out of this to view the hysteria brought on by the media and the Kerryfail lawyers and tax experts who clearly swarm this thread.
He's only in contempt if the court order him to comply with TAB's ruling and he doesn't or can't do it. That's my understanding as a non legal person. I also understand the court's order is final.
This, he has most of his money tied up in a family trust. Most Wealthy people do. Any problems for him with sars and they can't get much from him.
Don't they have to prove he does indeed have the wealth to make such an offer? You can't make an offer when you don't have the money? King obviously doesn't want the spivs getting a penny, till the share issue when their shares get diluted.
DK's counsel made it abundantly clear in court today he doesn't have the money. Before the court case King said himself he personally couldn't make an offer but NOAL can. However, NOAL's ability to make an offer wasn't raised by his counsel to Lord Bannatyne ... yet. It almost appeared to me that King's counsel wanted the the court order, if one gets issued, made to DK. Does DK need an excuse to walk away? This case raises a lot of concerns and a lot of questions. I could ignore all of them like a few on here but it wouldn't stop them existing.
Didn't King sell part of his business in South Africa a few months ago for a healthy profit?
