Dave King’s continuing comtempt of court will be the subject of an unstarred motion today.
At the end of February the South African based criminal was ordered to produce a prospectus offering current shareholders 20p for each share that they held in Sevco. That was as a result of his concert party coming to power in March 2015.
King has failed to comply with that ruling with only an advert promising a future offer from Laird Investments in his defence.
The Court of Session had backed the Takeover Panel in demanding that King produce a prospectus, deposit £11m in an escrow account by March 28 with a further 28 days given to honour the prospectus by purchasing shares.
On both counts King failed.
While some shareholders have been frustrated by the time taken by bring King to justice it appears that the Court of Session are being very meticulous to ensure that the Sevco chairman has no loophole to appeal against.
With his colleagues in the blue room of dignity unwilling to challenge their chairman King is in danger of bringing the club down with his own ego.
The Cold Shoulder from city finance houses is close to being activated against any business associated with King who could also face legal sanctions including a jail term.
CLICK HERE for Court Roll