The Forensic Audit

[+old caley girl]

1 hour ago, Duke of Inverness said:

Part time next season beckons I'd say. 

Wow, scary as look how poor and boring the product is with us at full time. 

Tbf a hybrid level works for some at this level? Time will tell

[STFU]

https://archive.ph/S7pkY

[caley100]

Yep, Read this earlier, Could maybe reference to an earlier enquiry re possible administration or maybe something a bit more ominous.   Either way we could do with a statement from the acting chairman.

[LisleRightPeg]

Oh no . I honestly thought the club would avoid this scenario. On the plus side surely Ferguson and co will be relieved of there duties 

[+DoofersDad]

Perhaps not surprising news, but certainly very disappointing and worrying news.  It looks like those Directors past and present and our former CEO remain determined to squeeze every last penny out of the club that they are responsible for getting into this mess in the first place.  Let's just hope that as disaster looms, one or more of them shows some level of contrition and decency to minimise the damage they have caused.  Certainly don't expect all of them to.

 

[The Mantis]

16 minutes ago, LisleRightPeg said:

Oh no . I honestly thought the club would avoid this scenario. On the plus side surely Ferguson and co will be relieved of there duties 

Surely if you read between the lines, Savage has been implying all along that it would be hard to avoid.

[+snorbens_caleyman]

36 minutes ago, caley100 said:

Yep, Read this earlier, Could maybe reference to an earlier enquiry re possible administration or maybe something a bit more ominous.   Either way we could do with a statement from the acting chairman.

The document they have seen is dated to last Friday, so that suggests that the enquiry is very recent.  However, there's nothing in the rest of the article, other than the corny name "Operation Kessock", to suggest that the document is anything other than generic boilerplate outlining the steps and implications of administration.  The type of document you'd keep on file and send out in response to an initial enquiry.

Having said that, this is a massive breach of confidentiality at either BDO or at the club.  Or a deliberate leak to concentrate the minds of potential investors?

I agree that some sort of statement is required.

[RednBlackComeback]

The club has been taking advice from an 'insolvency practitioner' for a few months, so this leaked document must be confirmation that the administration process is now underway?

[Jack Waddington]

Fingers and toes crossed it goes the Hearts way, rather than returning as 'The Inverness Caledonian Thistle'

[big cherly]

The ante up on the poker game between AS and the old guard

[Charles Bannerman]

This is at least the third, or maybe even the fourth time since early summer that this “administration” line has emerged from the club, and on each of the previous occasions it has been fairly quickly (on one occasion within nine hours) been countermanded by a statement that something or other has been “fixed” by people agreeing to do something, and everyone can breathe easily again.

l’m not sure whether various possible analogies include The Grand Old Duke Of York and The Boy Who Cried Wolf?

[Downinthedumps]

46 minutes ago, Charles Bannerman said:

This is at least the third, or maybe even the fourth time since early summer that this “administration” line has emerged from the club, and on each of the previous occasions it has been fairly quickly (on one occasion within nine hours) been countermanded by a statement that something or other has been “fixed” by people agreeing to do something, and everyone can breathe easily again.

l’m not sure whether various possible analogies include The Grand Old Duke Of York and The Boy Who Cried Wolf?

Things are bad enough Charles without bringing Prince Andrew into the equation.

[big cherly]

52 minutes ago, Charles Bannerman said:

This is at least the third, or maybe even the fourth time since early summer that this “administration” line has emerged from the club, and on each of the previous occasions it has been fairly quickly (on one occasion within nine hours) been countermanded by a statement that something or other has been “fixed” by people agreeing to do something, and everyone can breathe easily again.

l’m not sure whether various possible analogies include The Grand Old Duke Of York and The Boy Who Cried Wolf?

Yes, agreed. 
A few more turns, twists and paper chase headlines to feed the natives to come before a clear settled position is reached between AS and the ‘Rest’ (Morrison and other major stakeholders). Gardener will be a separate show settled much later I envisage with the final cost buried in some future accounts. 

Edited October 1, 2024 by big cherly

[Rebus1746]

Is this article not written by our former CEO's ally at the Courier? I do wonder if this is an attempt to cause further damage to the club, certainly any new investigator is going to think twice now. Hopefully the club will provide some clarity today.

[+snorbens_caleyman]

46 minutes ago, Downinthedumps said:

Things are bad enough Charles without bringing Prince Andrew into the equation.

Why not?  He's still the Earl of Inverness 

[Charles Bannerman]

1 hour ago, Downinthedumps said:

Things are bad enough Charles without bringing Prince Andrew into the equation.

Cracker!!!

[The Mantis]

2 hours ago, Downinthedumps said:

Things are bad enough Charles without bringing Prince Andrew into the equation.

I await the club’s next annoncement (hope I got my spelling right).

[Charles Bannerman]

4 hours ago, snorbens_caleyman said:

The document they have seen is dated to last Friday, so that suggests that the enquiry is very recent.  However, there's nothing in the rest of the article, other than the corny name "Operation Kessock", to suggest that the document is anything other than generic boilerplate outlining the steps and implications of administration.  The type of document you'd keep on file and send out in response to an initial enquiry.

Having said that, this is a massive breach of confidentiality at either BDO or at the club.  Or a deliberate leak to concentrate the minds of potential investors?

I agree that some sort of statement is required.

I’m not by any means saying that this isn’t the real thing, but across the summer there have been enough U-turns on the Administration issue (one of these on a timescale of just nine hours), to make it worth waiting for a formal announcement before totally believing anything.

[Scotty]

[+DoofersDad]

It's good he is no longer on the Board, but there is still a charge registered by him on the Companies House site.  We had previously been informed that Munro, Morrison and Cameron had agreed a combination of writing off their loans or having them converted into equity in order to help the club out of this mess.  There is, as yet, no sign of this happening.  The longer it takes for them to do the decent thing, the more it looks like they are set to try and squeeze as much money as they can out of the club regardless of the consequences.  

[big cherly]

1 hour ago, DoofersDad said:

It's good he is no longer on the Board, but there is still a charge registered by him on the Companies House site.  We had previously been informed that Munro, Morrison and Cameron had agreed a combination of writing off their loans or having them converted into equity in order to help the club out of this mess.  There is, as yet, no sign of this happening.  The longer it takes for them to do the decent thing, the more it looks like they are set to try and squeeze as much money as they can out of the club regardless of the consequences.  

Virtuous acts are not the natural leaning for these Gents. Who knows, come the time they may see there’s more to life than money

[Yngwie]

2 hours ago, DoofersDad said:

It's good he is no longer on the Board

Why? Have I missed something here?

[LisleRightPeg]

I can’t believe the club hasn’t issued a statement to update the fans who have dug deep to support the club

[The Long Man]

Well, whatever the financial labyrinth we inhabit, the good news is we have signed a forward on loan until January:

 

https://ictfc.com/charlie-reilly-joins-ictfc-on-loan/

 

Sound like a very promising young lad, hope he can give us a lift and bang some goals in, that will change the atmosphere around the place and lift us up the table.

[+DoofersDad]

1 hour ago, Yngwie said:

Why? Have I missed something here?

Yes.  You have either missed Scotty's post immediately above mine which has a screen shot from Companies House, or, if you were wondering why it is good he is no longer on the Board, it is because he has been on the Board since November 2019 and therefore must shoulder some responsibility for the mess the Board have allowed the Club to get into.