Drooper

Don't worry, he's safe and well and sitting by a pool somewhere stateside sipping a cold beer and receiving the occasional Big Rangers Administration Thread-related text so he doesn't feel left out

He wasn't half - steam coming out of his ears!

Not if HMRC submit a winding up application on the grounds that the assets should be sold and the proceeds distributed among the creditors. Who exactly sanctions this clause whereby Green has first refusal on the assets in the event of liquidation? It sounds like more convoluted D&P shite to me.

Third Lanark it is, then.

Phnarr, phnarr

All sounds a bit anodyne to me. I daresay we couldn't expect much more, but it is moderately encouraging to hear the likes of Stewart Gilmour make noises about Rangers over-stepping the mark etc.

Have Rangers just given the other clubs greater scope to put the boot in? Hmm....

The SFA will throw Rangers out of the Scottish Cup (they have no option other than to expel them altogether). Green's bonkers clause will kick in (newco), and HMRC will submit a winding up application.

As has been said (including by myself earlier in the thread), the CoS ruling is nothing to get worked up into a lather about. Indeed, this development only gives the Rangers supporters some false hope that they are turning a corner. I suppose they are turning a corner....and will duly stumble into the biggest, blackest, deepest hole filled with fetid filth that they could scarcely conjure up in their own foul, bile-riddled minds. They deserve this false dawn. It'll make witnessing their inevitable and excrutiating, lingering demise all the more pleasurable for the rest of us The end is nigh.

We all seem to have lost sight of the fact that the SPL clubs meet tomorrow to agree a postponement of their decisions in respect of the financial fair play proposals.

Nope. Just on the BBC news. Pretty outrageous by any measure. Surely HMRC must submit a winding-up application now, and the insolvency regulators hammer this crew. This is why I was saying the CoS ruling is a sideshow.

Back to the CVA. It seems, according to the BBC, that D&P would rake in over £5.6M. This is more than all the other creditors put together.

Good stuff. Glad to hear you're on the mend.

True. I was thinking more along the lines of what is today's big news on the demise of Rangers front.

Anyone who read the tribunal regulations would have figured this out. I was surprised that this wasn't picked up by the review panel, TBH. I assumed there must have been some caveat that effectively permitted them to make the rules up as they went along (as the SPL seem to utilise in terms of their regulations ) and this is why the original appeal was thrown out. The SFA find themselves in an invidious position over this. They'll have seen the BBC documentary, and will struggle to justify reverting to a more lenient sanction option given the level of public scrutiny - albeit the documentary concentrated on a different period in the club's shady recent history - but will they have the bottle to impose anything else? A one year ban from the Scottish Cup seems the obvious option (as predicted when the original appeal sat). Pretty toothless, if so. The CVA is today's big news, though. It is an absolute nonsense, and this CoS developemnt is little more than a sideshow.

Initial RM commentary on the CVA proposal: So the payout is effectively a moving target? why would a creditor accept a CVA that has so many variables!? Can't they fast-track the court case regards the Collyer money? Don't want to seem defeatist but can't see many going for this. Funnily enough, I can't see anyone going for his notion that the CB case could be 'fast-tracked' either TO be fair, this character is marginally less delusional than most on there, though (albiet, most are still struggling to open the link much less digest the content of the CVA proposal).

Cue the HMRC winding-up order.

"We very much hope it will be accepted," Clark told BBC Scotland.

Indeed. This is truly laughable.

If this CVA is agreed, I'll eat a 10 gallon hat full of white dug shite (including the hat itself....for pudding).

4.20 The Offer Letter is confidential between Sevco and the Company, but the principal terms are as follows: 4.20.1 In addition to the £200,000 referred to in Paragraph 4.19, Sevco agrees to advance to the Company the sum of £8,300,000; 4.20.2 £8,300,000 will be available for draw down by the Company no later than 31 July 2012, but only once certain conditions (the ―Conditions‖) are satisfied;

Where did I suggest this? What is irritating is the fact that no-one with any level of authority has stepped in the tell them to behave. I thought my post was quite clear in that respect - as it said exactly that

From the BBC "I still can't give an absolute confirmation of the amont," said Clark. "The structure of the deal is sufficiently complex that we are unable to give a finite distribution. "We will receive - or we will receive - £8.5m contribution from the Green consortium. To add to that, we will have the proceeds of litigation that are ongoing and also into the same pot, we have outstanding player transfer fees. "There will then be certain deductions for the costs of administration, then the final moving piece is the final result of the Big Tac Case, so there's quite a few moving parts. "This won't prevent the creditors from voting, but it does mean they won't know for certain what the distribution will be." Source Worst. CVA. Proposal. Ever. I had to re-read this 3 or 4 times to convince myself that I wasn't imagining just how utterly preposterous it is. Now, we all know that the CVA notion is a 'tactic' along the same lines as the legal action against Collyer Bristow - ie: a somewhat unsophisiticated smokescreen to give the impression that D&P are trying to work through this thing with a modicum of propriety. Even taking account of this, however, they must genuinely believe that the creditors are dribbling imbeciles. They might as well ask them all to line up so Clark and Whitehouse can progress from one to the other giving each a swift boot in the baws, while Whyte, Murray, Green et al stand to the side, cigars in hand, guffawing wildly into their tumblers of brandy. Someone needs to tell this mob (D&P) to behave themselves, pack their desk toys into their faux alligator skin briefcases, and take the first Sleeper back to Laandahn. Anyone with an IQ equivalent to a breeze block knows that they are playing this out to achieve a newco so that Whyte and his chum Green can rake in a few quid from the subsequent asset strip. I'm actually finding this more irritating by the day as no recognised regulatory authority steps in, takes their catapults away, and sends them on their way with strong clips behind the ears

If selectively applied, yes.

Don't encourage him