Jump to content

Big Rangers Administration/Liquidation Thread - All chat here!


Recommended Posts

From bottom of BBC report.....

The £134m potential debt figure revealed in the Duff and Phelps report does not include liabilities to employees, including the playing staff whose contracts revert to their original terms on 1 June. If these playing staff contracts are to be honoured, the potential £134m liability will rise by a further significant amount.

2 months to sort it all out or players start to walk away with no transfer fees?

Link to comment
Share on other sites

No doubt...watching Jim White spluttering indignantly on SSN just now was possibly the funniest 5 mins of telly this year...

'They're crawling out of the woodwork now from all over Europe demanding money!'

Yes Jim...cause your cheating team owes it to them you dullard!

I honestly thought he was going to greet...and that useless pillock with him was no better...'err Portsmouth had similar debts...but are now back in the shit again so maybe not the best example'

Priceless!! Happy holiday weekend to all PnBers...enjoy your viewing!

Link to comment
Share on other sites

Will we be seeing the Rangers creditors list appearing on the lottery show " Who dares wins " with Nick Knowles??

" Welcome to our next two contestants on Who Dares wins"

"We have Craig and some bird.."

Craig who comes from Motherwell, likes to play monopoly in his spare time but says his favoutite game is risk

"So Craig, the next list is............. The Rangers Creditors list. What's yer opening bid"??

"Well Nick, yet again I seem to have landed on my feet I ken there are loads of names on yon list so I'll reckon I can name...... oh 250"

"That's a huge opening bid Craig, are you sure you know what your doing!?

"Funnily enough Nick, you're not the first person to ask that question of me but trust me ;) , I know EXACTLY what I'm doing"

Edited by The ghost of Jim Morton
Link to comment
Share on other sites

No doubt...watching Jim White spluttering indignantly on SSN just now was possibly the funniest 5 mins of telly this year...

'They're crawling out of the woodwork now from all over Europe demanding money!'

Yes Jim...cause your cheating team owes it to them you dullard!

I honestly thought he was going to greet...and that useless pillock with him was no better...'err Portsmouth had similar debts...but are now back in the shit again so maybe not the best example'

Priceless!! Happy holiday weekend to all PnBers...enjoy your viewing!

The saddest/funniest thing is that Jim is supposed to be the informed one, and his desperate hope matches that of the fans!

Link to comment
Share on other sites

From Rangers media :lol:

Thats not too bad.

Given that Ticketus are either going to deal with TBK or get stuffed in lengthy court action, we can safely rule that money out of the equation.

We can rule out the debentures as this wont need to be paid.

The money owed to other clubs is covered by the money owed to us by other clubs, so nothing to worry about there.

That leaves your general day to day creditors and the tax man. HMRC are saying (privately) that they wont be difficult to deal with, even if they get a 100% win in the BTC which is very unlikely.

I can see absolutely no reason why a CVA cannot be reached with these creditors getting a reasonable deal that they wont turn down.

Link to comment
Share on other sites

No doubt...watching Jim White spluttering indignantly on SSN just now was possibly the funniest 5 mins of telly this year...

'They're crawling out of the woodwork now from all over Europe demanding money!'

Yes Jim...cause your cheating team owes it to them you dullard!

I honestly thought he was going to greet...and that useless pillock with him was no better...'err Portsmouth had similar debts...but are now back in the shit again so maybe not the best example'

Priceless!! Happy holiday weekend to all PnBers...enjoy your viewing!

Much of their debt was to previous owners who were willing to take a hit on their money; orcs debt is mainly to Hector, who is unlikely to be so accommodating.

Link to comment
Share on other sites

So I'd take it from that they require 75% of this £55m to secure a CVA, so roughly £41m. Deduct the £8m for the debenture holders, as they'll presumably vote it through regardless, and you're left with £33m worth of debt that needs to be voted through. It's painfully obvious how key Ticketus, with their £27m owed, are to the whole thing.

Secure a CVA before they lose the Big Tax Case? Unless they have a highly dubious plan to transfer the assets to a NewCo, they'd just end up fucked in a couple of months time, with HMRC calling all the shots.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...