MarreZ

What would happen if Duff and Phelps were removed and another administrator put in place, would all their fees be stricken also?

I didnt actually think of this before, but Duff and Phelps have played an absolute blinder for themselves. We all know the CVA has been doomed to failure from the start, their fees wrack up, but there is not the required money to pay them. They keep hold of the players at the time of administration, but agree a reduction in what they can go for, knowing that they would be knocked down in price in any case, but you trigger a release price that lets them go, which is probably a fair market value for these guys. Knowing the cva will fail, player transfer fees are excluded from the CVA and the extra 5 or 6 million they will get in from letting these guys go means their fee is well covered, it has never been in doubt how much the CVA would cost, I guess they knew from the outset that it was going to be well in excess of 5 or 6 million, with the money they get from Green for the newco assets, there is now just enough for them to pay their bill. Administration always ends up in the administrator and no one else getting paid,that is generally how things work, its always an amazing coincidence that administrators fees always end up very similarly to what is available.

Does anyone else get the feeling that Doncaster didnt know Scotland were the best supported team per head of population till he read it on this thread? I actually thought he was reasonable on the interview, the interviewer was a dick though.

Arent you married to a tarrier? You are building up a nice collection of reds with these soundbites.

Thats weird, I didnt mean to quote that one, it was another one where some guy posted about sporting integrity because we had signed Charlie Adam, saying it gave the bottom 6 an unfair advantage (despite not having him in the bottom 6) St Mirren asked Rangers for Charlie Adam on loan on two occasions .They could not afford to buy him or pay his wages but played him none the less . As their goal at the begining of the season was survival this must be seen as having an unfair advantage over the rest of the teams at the bottom six . Dundee utd were the same with Andy Webster ( as captain he lifted the scottish cup for them ) . Both teams were happy to have Rangers pay players to play for them . Sporting intergity ?

This guy reeks of a Cap'n Sensible alias. Sniffed oot.

This has got to be someone on the windup! markybear, on 30 May 2012 - 07:31 PM, said: No matter how scathed or unscathed we enter season 2012/13, if we cancel our blanket boycott, I do think st mirren should get special treatment on this one. I will not be attending new st mirren park for RFC games next yr. I urge the rest to do likewise, the hatred for RFC was falling out of their chairman today. Theirs a saying ..... Don't bite the hand that feeds. he should take heed of that

Its only about 5p without big tax case, there is secured creditors not on that list

Why are the secured creditors only £7500 on the sheet? "Close Leasing is a secured creditor under the administration after it provided new equipment for Ibrox kitchen upgrades in a deal Mr Whyte secured against income from the catering contract at the stadium In the report, Duff and Phelps said "indebtedness to Close Leasing Limited was approximately £1.6m, subject to accruing interest and charges" and discussions are continuing over repayment of this."

Tom English ‏@TomEnglishSportNothing against Charles Green looking for profit, but I don't recall Nanny McPhee walking into the sunset with her pockets full of readies.

Estimated funds available for creditors £4,967,284 of which it seems to me, 3m CVA costs will come out, leaving just under 2m, but is this including or excluding the administrators 3m fees?

5.12 The SPL season has finished and as a result, the Company's trading revenue has dropped sharply. The Company must still continue to trade, and in particular it must continue to pay its players, to remain as a going concern. As such, the Company will incur the CVA Trading Costs. It is unclear at the date of this Proposal the period over which the CVA Trading Costs will be incurred and therefore a definitive figure cannot be provided at present. It is estimated that, if the loan is drawn down on or around mid July 2012, The CVA Trading Costs may be in the region of £3,000,000 ministration fees are on top of the 3m CVA trading costs out the pot, so even by a low 2.7 figure administrators costs, thats 5.7m out of the 8.5m, at the low end, and 6.5m at the high end. The current pot of creditors is 56m near enough going by the statement, which would be just under 5% at the low end as a best case scenario. (not including any potential court cases in and out). Did I read this correctly?

They can sign anyone they want, they just cant play them, which its why its not illegal.

I dont think its ever been confirmed that the contract states this anywhere, its just been scaremongering by Rangers friendly journalists.

Apart from Billy Dodds claims that he never had an EBT then he had one but the tax was deducted off it, surely HMRC will investigate the last part of his statement? If Rangers were claiming tax off players for the EBT's as Dodds claimed and obviously were not paying any tax to the taxman its a huge financial scandal far bigger than the EBT's alone, and shows that Murray was doing the same as Whyte for years, taxing players and keeping it, which is worse than simple tax avoidance.

Does anyone know the answer to this?

Can ticketus accept a CVA and still chase Whyte for the personal guarantees? Surely if they accept a CVA they are accepting to write off the amount owed and take whats offered?

Transfer fees are not a good indication of player costs. For example, the Killie wage bill has been a lot higher than St Mirren's every year.

Thats actually more damaging if what he said was true than just the plain on EBT way, that means they were deducting tax from employees but not passing it onto HMRC, which is an even bigger can of worms than before.

Can someone remember when the Blue Knights had their press conference, they named Walter Smith and Souness as having roles within the organisation, did it come out afterwards that this wasnt actually true?

Thank you sir, enjoy your new greenie.

Is sportsound available to listen to online anywhere yet?

They plan on lifting the transfer embargo for a week so that Ian Black can sign.

Well for one, you might have a point if it was the original case, but its an appeal, so its unlikely anything will come up to change that ruling. Would it change much anyway if the big tax case went Rangers way? There is still a whole lot of debt and a whole lot of contract issues remaining even without the big tax case.

You would cost too much though and have debt, so it wouldnt be a good fit. St Mirren would have, low cost to buy, assets worth more than the cost, nice wee reserve stadium for them. it would have been hellish.