CELTIC1CALEY3

Pack your bags and go. Your contract has ended, find a new job, pay for your own accommodation (where applicable).

Sadly the law only relates to public bodies. Almost certainly the Insolvency Practioner has got an insight but slippery characters know how to slither away and re-invent themselves. However, his Linkedin profile is very respectable and well supported.

Absolutely shameful that Directors who may have put money into the club but who live absolutely comfortable lives have treated the players so disgracefully.

Directors have a duty of care not to overtrade. On the 21 December 2023 when Morrison submitted his floating charge over property, assets and rights he also applied a negative pledge. This put him in a very strong position i.e. defined as 'an agreement between the owner of a charged asset and a lender stating that the owner will not create further security without the agreement of that lender.' In addition both he and Munro applied that pledge over shares held by the borrower. At the moment the appeal on the battery farm does not appear to have been submitted so both pledges will be impediments to solvency.

It is quite useful to reflect on what was considered to be the Directors perception up to 31st May 2024 as predicted in the last set of published accounts.

He is almost certainly being interrogated by the Insolvency Practitioner.

And now, the end is near And so I face the final curtain My friend, I'll say it clear I'll state my case, of which I'm certain I've lived a life that's full I traveled each and every highway And more, much more than this I did it my way Regards Scot Gardener

If we do get up and running under Ferguson this season, his clear disdain for local players e.g. Lewis Hyde, Roddy McGregor will make it very difficult to motivate whatever players we can source locally. Ryan Esson is 44 but if he became player/manager could at least provide us with someone in goal!!

HMS Sneck needs to speed up to deliver an urgent message. 'Although they have not released an official statement, Kelty, when approached by Press Sport, said that they have not been notified by any officials at Inverness to say that the agreement has been cancelled. '

Time is of the essence.

As I indicated earlier someone has to carry out key administrative duties. If both the Chairman and CEO had walked at the same time who would have the Company Secretarial skills or knowledge? As others have indicated Gardiner is entitled to serve his contracted notice or be paid for it. Gordy Fyffe will doing press releases. They are normally just good news stories but recent ones have been toned down. Graham B now seems to be the Board's spokesperson. In order to provide comfort for the fans and staff, it would be useful to know Gardiner's last day of employment (assuming new buyers or investors do not materialise pretty quickly and bring in their own person).

Anxiety amongst staff and contracted players or those whose contracts are due to expire shortly will be very worrying. The fear of losing your job, the fear of redundancy is debilitating. We have been pre-occupied with the fans position but for example, if you are a player who has had friends who have been through administration you would want to know your rights. Whilst your agent can also help you would expect your employer to provide information too.

Sadly the peasants trooping on 2 by 2 were revolting.

The key in this is that Morrison is now just a private individual whose sole role in the club appears to be just to regain some of his investments (through a previously agreed standard security) and to appear in press photographs as the first person, and potentially only person, to buy an ICT FC season ticket for 2024/25 (subject to the Club retaining a licence to play in League 1). However, given the lack of trust and transparency in recent weeks, nothing can be assumed.

He is no longer a Director of ICT Football club. As a private individual now unconnected to the football club I had taken the view he could not now have a significant influence on that company. The planning application to the Council made it clear the Company was owned by the football club and did not have any private individuals on it. With regard to him not being a Director of the company he has a claim on income - if it were ever to materialise - through the floating charge over the Club's assets. By definition this is my perception looking in.

Companies House has not so far been notified that the former Chairman and Director is no longer a shareholder of ICT Battery Storage Limited. Indeed, just like the submission of the Club's annual accounts Companies House is also flagging up the late submission of key information.

Regardless of his status as a Director - which he now is not - he has potentially significant influence on recovering his loans if he chooses. See https://find-and-update.company-information.service.gov.uk/company/SC149117/charges/DljGLHzD5t8CShNFIq_PJIMeTFE Brief description Floating charge over all its property, undertaking, assets (including uncalled capital) and rights owned now or in the future. Contains floating charge. Floating charge covers all the property or undertaking of the company. Contains negative pledge. Those of a legal disposition can read a 7 page PDF. He set this up on 21st December 2023 I would imagine suggesting some anxiety quite recently to protect his asset. Why else would you do this after many years at the helm? The Bank of Scotland have an interest too.

The club probably do not know what is a realistic price for a season ticket. Also Gardiner is probably the only person able to do things. If Directors reach a decision someone has to action them. Who apart from Gardiner administers?

Resigns just after his Podcast interview. Resigns on the day the Accounts should be submitted.

It might be difficult to achieve but amongst the fans are some very experienced and talented individuals who almost certainly would offer voluntary service on bodies set up by the Club to help consider proposals e.g. moving training to Fife, making profit from potentially providing concerts, leasing a piece of land, applying to the Council for planning permission. If the Trust had a board member or two it could possibly vet selected persons to assist the club. That goodwill surely exists and anyone helping the Club, well would be helping the club. Just a thought. Being objective, the current model has not worked.

I assume the Emergency Board meeting has finished!! Such is the crisis. If Morrison was honest in saying he told the Board that he would be resigning at the end of June 2024 they would no doubt have considered a new Chairman. Hang on, this is the Club in Scotland that is in greatest danger of its existence which has blindly been lead to the precipice. Forget 'this day in 2015 we won the Scottish Cup' but who will now save the club? Hopefully today, we await what will be dramatic news from decisions reached at the Emergency Board meeting.

Who will be the new Chairman?

https://www.theguardian.com/football/article/2024/jun/03/inverness-caledonian-thistle-scotttish-football-kelty-duncan-ferguson Euan Murray's take.

And for those looking to peruse the Accounts, guess what?

Land adjacent to the ground being leased out?