Dave King’s joy at avoiding Christmas in jail was short lived as Judge Peter Smith trashed the South African based criminal in court this morning.
Mr King was told that he should have zipped it rather than gloat to Sky Sports about humiliating Mike Ashley while it also emerged that yesterday’s claim that a £5m loan to Sports Direct had been repaid was not the case with counsel for the sportswear giant revealed ‘RFC are still £500,000 short of repaying the loan’.
Last month chairman King told Sevco shareholders that the loan had been repaid after an hour long conference call among co-investors. Explaining why the loan was being repaid the glib and shameless liar said that it was the right thing to do!
Yesterday after discovering that he wouldn’t be handed a prison sentence Mr King told Sky Sports News: “I’m absolutely delighted. It’s not an unexpected result. It’s a case I always thought was very frivolous.”
“It was very pleasing for me to see we had a very, very strong judge who saw this case for exactly what it is.
“It’s an absolute humiliation from Mike Ashley’s point of view. I think it was disappointing it got this far and to repeat, it’s not that surprising the judge dealt with it so quickly.
At the end of yesterday’s hearing Judge Smith said: “I think Mr King should say absolutely nothing (to the media) except how happy he is not to go to prison, and Mr Justice Peter Smith is a fair-minded judge.”
Counsel for Rangers say there is no evidence his client was responsible for a Daily Record article from May this year.
— James Doleman (@jamesdoleman) December 11, 2015
This morning according to James Doleman ‘Judge to RFC counsel “perhaps your client should have kept it zipped yesterday” notes there are over 100 news articles on the Internet.’
No decision on damages or costs were taken today in court with a full trial for the contempt charge scheduled for January 18.
Sports Direct have been given one week to provide the judge with copies of newspaper articles whuch they claim breached the confidentiality clause.
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Well, well.. £500k short it is…….wouldn’t be King’s contribution would it?
Is there any reason to believe that the other £4.5m is available?
Who knows with this lot………will the £500k have to come from Warbs war chest?
Given that the 3 Bears are providing the bulk of the loan repayment there must be huge pressure on them to dig deep for the December payroll, then Jan/Feb/Mar/Apr/May……..
Even with contributions from the supporters associations it’s going to be a tough ask, unless of course King turns up in January with his £30m ????
With Res 10 in the bin, the debt for equity strategy is dead in the water so the various soft loans are all currently unsecured.
With the doubt about who actually owns the assets likely to be the subject of legal cases for a while to come those who have put their money on the line must be a little nervous.
They now find themselves in the position of Bank of Last Resort with no option but to continue to feed the beast with further millions otherwise whatever they have currently co invested will be lost in another admin event.
Joe
At their last rabble they also said they needed 2.5 million just to keep the lights on, till the end of the season. But as we see today that figure could be anything.
A GLIB AND SHAMELESS LIAR, HOW TRUE !
HH
So what King should have said yesterday was, we’ve paid 4.5 million back of the 5 million loan, that’s it paid in my book. This is a humiliation for Mike Ashley, that jugde was dead easy to make a complete and utter c*nt off.
HH
Wise supreme leader say : ” If your boxing a big guy don’t punch him in the nuts in round one.”
King Dave needs to realize it is never a good idea to tweak the lion’s nose after the lion is already out of his cage …