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Big Rangers Administration/Liquidation Thread - All chat here!


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Mark Daly, the BBC investigator took from the Admin press conference that Craig Whyte's secured creditor status is being questioned by the administrators..

That would be strange given that Whyte has had this company on his payroll since day 1. Surely the 1 thing he'd guarantee is that both he and they will be well rewarded.

Unless he's moved so much money out that being a secured creditor doesn't matter and actually saves him a lot of grief if he's seen to be taking the same as everyone else (plus £30m up front).

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Thanks to folk for answering my earlier question about Ticketus being done, which should show that I don't really understand these things. So is the following a possible sequence of events that could have happened or is there no chance?

Whyte goes to Ticketus for the £24million.

Ticketus agree and give it to Wavetower/Rangers Group Ltd - backing up Alastair Johnston's claim the money went into some other account

On buying Rangers FC Ltd (or whatever) Whyte payes Lloyds £18million to from Rangers Group Ltd to clear the debt

Rangers FC Ltd now owe Rangers Group Ltd £18million.

The remaining £6million is resting in Group Ltd's account Father Ted style or is used for running costs, taking Rangers FC Ltd's loan up to £24million

Whyte/Rangers Group Ltd is secured creditor and Ticketus aren't affected because their beef is with Group Ltd not FC Ltd.

As I said, possible or not? And if not, where have I gone wrong?

If ticketus were to hold a charge on Murray Park or Ibrox that'd be the doozy. It'd feck over the sale of the property assets if it went to liquidation.

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I just minded about this wee story that passed virtually unoticed back in October. Might be worth keeping an eye on.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-15453103

Two companies featuring the name Glasgow Rangers have been officially registered by a man based in Buckinghamshire.

Glasgow Rangers Football Club Limited and Glasgow Rangers Limited were registered with Companies House.

Their sole director is Gerard Moran. He has not responded to requests for further information.

The registrations show no evidence of a connection with the current management at the Ibrox club.

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Enjoy....

http://thesun.mobi/t...-era.html?mob=1

I was in danger of soiling my pants, until that pesky Margaret McKay came along with her wise words of caution. :lol:

Aye, and that McGilivarey bloke is one shrewd cookie, they could do with him on the board.

http://www.google.com/hostednews/ukpress/article/ALeqM5jJ_6UA1Yx9i_7W4gmh_sEFy9GLWQ?docId=N0574371329424827897A

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