cyderspaceman
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The following from RTC Blog Comments
SPL Articles of Association
14. If:-
(i) a Member shall cease to be entitled to hold a Share; or
(ii) a trustee in sequestration, manager, receiver or administrative receiver shall be appointed in respect of a Member or any property of a Member, or an administration order shall be made in respect of a Member or any property of a Member or an order shall be made or an effective resolution passed for the winding up of a Member otherwise than for the purpose of reconstruction or amalgamation;
then that Member or its manager, receiver, administrative receiver, administrator or liquidator or any other person entitled to the Share shall, on receiving notice in writing from the Board following the Company in General Meeting passing a Qualified Resolution that such notice should be issued by the Board and confirming the identity of the proposed transferee, transfer its Share to such other person as the Board shall direct at the price of £1 and the Club owned and operated by such Member shall forthwith cease to be a member of the League and the Club owned and operated by the transferee shall become a member of the League in its place.
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17. Whenever a requirement to transfer a Share shall arise, if the relevant Member shall fail to transfer its Share within seven (7) days of notice having been given of the requirement to transfer, the Board may authorise any Director of the Company to execute a transfer thereof and a transfer so executed shall be valid and effective as if the same had been executed by the Member concerned and the transferee shall on payment of the sum of £1 to the Secretary to be held in trust for the transferor be entered in the register of Members as the holder of such Share.
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NOTICE OF GENERAL MEETINGS
25 A General Meeting called for the passing of a special resolution, Qualified Resolution or Special Qualified Resolution shall be called by at least twenty-one (21) clear days' notice. All other General Meetings (including any General Meeting at which a resolution in respect of a Reserved Matter for which a Qualified Resolution or Special Qualified Resolution is not required) shall be called by at least fourteen (14) clear days' notice save for a meeting called by shorter notice if it is so agreed:-
(i) in the case of an Annual General Meeting by all the Members entitled to attend and vote thereat; and
(ii) in the case of a General Meeting other than the Annual General Meeting by a majority in number of the Members having a right to attend and vote being a majority together holding not less than 95% in nominal value of the issued Shares giving that right.
Four things:
1. If DeadRangers FC are suspended or expelled from the SFA (and lose their entitlement to an SPL share in that way) or BDo are appointed and the resolution for winding up is passed, it takes an SPL Qualified Resolution to agree the identity of the recipient of DeadRangers SPL share. A Qualified Resolution requires 90% of members to agree – effectively 11 out of 12 (or 10 out 11 if DRFC don't get a vote).
2. To call a General Meeting, where a Qualified Resolution is required, there must be a 21 day notice period.
3. To give shorter notice, 95% of members must agree – effectively all 12 (or all 11).
4. If the SPL wish to change any of these Articles, it too requires a Qualified Resolution – 21 days notice and 90% agreement.
Since it is almost certain that DeadRangers FC will be suspended or expelled by the SFA before the SPL can lawfully convene a meeting to decide where their SPL share will go, would it not now be sensible to simply expel them for failing to produce audited accounts?
SPL Rule H5 kicks in (Dumfermline are re-instated) and the NewClub can get moving on applying to the SFL for their vacant spot in the 3rd division.
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To avoid all the above taking place, Regan / Ogilvie and Co now want to srap the SPL at the drop of a hat. Stinks to fvck.
Aw naw. I suggested a revamp of the leagues would be a good thing.
Now I'm unhappy about it.
I'm like the guy in the pub in the Paul Whitehouse sketch.
I'm looking forward to this pish being settled!
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On this site the Daily Record is considered to be Ibrox-friendly.
On FF and RM they refer to it as the Rhecord.
I am not trying to defend the rag.
Either someone is mistaken or it swaps sides to sell copy.
Surely not!
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As a point of interest, I read that Duff&Phelps have been appointed
administrator for failed department store Allders of Croyden.
God help the creditors. (just a turn of phrase, I'm atheist)
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They are not asking for that, they just want fairness..so it's SPL and a 5 point start, oh aye, drop any investigations into years of "misunderstandings"
How about a levy on all other clubs to help them get up and running?
Seems only fair............................
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Still trying to get my head around this.
Can anyone explain why the asset sale to Green was allowed to go ahead?
Shouldn't the liquidator have been selling off the assets to get as much as possible?
Was the sale rushed through after the rejection to prevent the liquidator doing their job?
Can the liquidator block the sale?
What is there left to liquidate?
If the sale is confirmed by BDO then will HMRC not get less from liquidation than from the CVA?
This link should answer some of your questions.
Not necessarily the answers you WANT to see, though.
At 1854 pagtes, this isn't a thread, it's a hawser.
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Definitely a pie and bovril plant, no Rangers fan on that site could be that funny. Loving the Fawlty Towers reference, well done that man.
Agree.
Check out the join date and number of posts.
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Been without the internet for a week and you've no idea how frustrating it is having to rely on the media for news on this. Caught the STV/BBC specials on it last night and thought the STV one beat Newsnicht hands down.
Except ... that loathsome little creature Kelly nearly made my head explode with his fucking arrogance. "SPL needs Rangers. Fans will never go to places like Brechin or Arbroath. Wipe all Rangers wins off the record books and award them to Celtic the team that came second". If ever there was a face I would never tire of stamping on, it's that weaselly little c**t's
Basically agree with you (especially internet) but Kelly is an irrelevance, more to be pitied than scolded.
No idea why he was on that programme.
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P&B naturally attracts the younger and more interested/'motivated', IMO.
Thanks for your reply Hibee. (and others)
Especially since I'm a kick in the arse off being 60.
I love this site.
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I have a quetion to ask, please.
I don't reside in Scotland, so cannot gauge the general feeling 'on the ground'.
On this site, the general attitude is NO NEWCO and also, maybe, NO RANGERS AT ALL.
I have no problem with that but does the same attitude exist in the pubs, clubs and
elsewhere in football circles as far as anyone can tell?
Certain circle excepted, of course.
I imagine the answer will be yes, but I just thought I'd ask.
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I love that the main talking points following both programmes include
"I thought Tom English would look different"
and
"Jim Spence was wearing a snappy suit"
Did you miss all the sexist references to Tracy Campbell-Hynd?
I realise all remarks were in the best possible taste.
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New blog by me: Why Charles Green can't lose, no matter what Rangers fans/Walter Smith/Ally McCoist do.
Good point in your blog about area being more desirable with no Orcs every fortnight.
Like my new avatar?
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This thread is SO long I don't have time to check, so apologies if this has been said.
I am in favour of withdrawing all titles/trophies won by rangers IF they are found guilty
of financial skulduggery.
However i am NOT in favour of awarding said titles to the runners-up.
Here's why.
Who can say if a team beaten in the early rounds would not have gone on to win a cup?
The league may be slightly different but for the sake of fairness it should be treated the same.
That way, the record books could show
COMPETITION ANNULLED RETROSPECTIVELY DUE TO CHEATING BY RANGERS
Then no-one could ever forget that it happened.
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I was lurking on a the rangers forum where I saw a post from someone who
outed himself by accusing the the rangers fans of being vile, violent bigots who
overused the word paedo. He also claimed to be non-catholic.
He got four pages of replies calling him a bead rattling ***** tarrier paedo
with a couple of veiled threats thrown in.
Oh, the irony.
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I wouldn't rule out the liquidator looking over the independent valuations H&D got and maybe a bidder will appear for something like iMurray Park or a fortified wine maker will bid for the name and crest to throw a spanner in the works, but I'm not sure this is as shady as it may appear on first glance. Rangers are just objectively worth less than Aidan McGeady (God I love pointing that out)
Thanks for your succinct summation , girondistnyc. I just hope that the glimmer of an alternate outcome, as on the news, comes to fruition.
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I'm new to this site and what I'm about to say has probably been
done to death but could the present
situation not be an opening for a reconstruction of the leagues?
IF the SPL really would be in trouble without Rangers (maybe) , then why not change things around
so that they are not missed?
16 teams first div, etc, etc, etc.
Just a thought.
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I have not read every post since yesterday, so apologies if I'm covering old ground.
I do not understand why Green&Co are getting the business for 5.5M.
I would have thought that BDO should take over and flog all the assets for as much as they can get.
Surely more than 5.5M?
What happened to the idea that the administrators first duty was to the creditors?
Still something not right here.
Just saw the lunchtime news. BDO may well have something up their sleeves. Heh heh.
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And another thing.
I keep reading about how "big" a club Rangers is.
WAS!
When this is done they will be just another 'diddy' team.
There will be no tsunami of cash coming in.
( I don't actually like the term 'diddy team', apologies to all.)
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I have not read every post since yesterday, so apologies if I'm covering old ground.
I do not understand why Green&Co are getting the business for 5.5M.
I would have thought that BDO should take over and flog all the assets for as much as they can get.
Surely more than 5.5M?
What happened to the idea that the administrators first duty was to the creditors?
Still something not right here.
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Once the club is gone, you cant claim its history, See Airdrie United or AFC Wimbledon as examples
I take your point about the history disappearing. I totally agree.
I'm just trying to emphasise the point as in, who would have any right to said history IF it could be transferred?
I presume, perhaps wrongly, that the shares disappear also. So what is there to be "transferred" ?
Time will tell, it's all good, clean fun!
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Immediately after the liquidation, could someone, e.g. The Blue Knights, start a brand new club, call it Rangers and claim the "history"?
Could several different groups try to do likewise?
If the existing Rangers cease to exist, what's to stop something like that?
Sorry if this is a silly question but nothing is clear to me.
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I took the "support your local team" thing to mean that if you're lucky enough to be from Arbroath you'd support Arbroath. Or (if luck hasn't smiled on you and) you're from Dundee you'd support one of the teams there etc etc Then you grow up, move away because of work/education/love interest/prison sentence and you take your allegiance with you.
As opposed to being born and bred in a town miles away from Glasgow and being an OF follower.
PS - I've always been behind the "support your local team" idea. Now I'm not so sure. Having moved to Glasgow for uni and stayed because of work I find myself with 2 kids and their local team is, er.... rangers
Tell them they live on an access point for Partick via the subway.
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Big Rangers Administration/Liquidation Thread - All chat here!
in Celtic v Rangers, Rangers v Celtic
Posted
Watched DVD of Lord of the Rings today.
Just couldn't see an Orc without laughing.