Just catching up - I reckon this is absolutely spot on. There were murmours of a consortium back at the time of the Blue Knights/Bill Miller bidding war which was said to include some pretty high profile Scottish names, who may well be Wattie, Park and McColl.
I would be extremely surprised if Wattie & Co havent been working/discussing with Charles Green etc in the background the last month or so, manufacturing the exact position that Rangers are in today.
Charles Green has agreed to act as the party that goes through the motions of the CVA and carries out the liquidation and formation of the Newco, and the Scottish consortium then stroll in to take over once the new Rangers are set-up - debt free with no BTC hanging over them. Charles Green makes a few million quid, and the only gamble is whether the other SPL clubs vote the Newco in - which we all know they will.
I'm sure this has been answered elsewhere, but will the revised punishment which the SFA come up with (instead of the 12 month registration embargo) apply to the newco?