Big Rangers Administration/Liquidation Thread - All chat here!

[HibeeJibee]

Och behave. Three MSPs?

I'm starting to think Thomson came riding into this thinking he'd set the place ablaze with otherwise-uncovered exclusives, only to discover that (while there's plenty controversy), it's all rather too banal.

So 3 MSPs (from 3 different parties?) wrote to D&P asking them to try to save the club and the employees jobs?

Hold me back. Scandalous.

I think Fraser's and McAlpine's communications were already publically-known anyway.

[Highlandmagyar]

I'm starting to think Thomson came riding into this thinking he'd set the place ablaze with otherwise-uncovered exclusives, only to discover that (while there's plenty controversy), it's all rather too banal.

So 3 MSPs (from 3 different parties?) wrote to D&P asking them to try to save the club and the employees jobs?

Hold me back. Scandalous.

I think Fraser's and McAlpine's communications were already publically-known anyway.

Must be banal, when he is physically threatened by a Scots Journo!! You know? The Rangers Mafia!!!

[HibeeJibee]

Must be banal, when he is physically threatened by a Scots Journo!! You know? The Rangers Mafia!!!

Clearly a lot what he observes is true. And a lot of what he says he says in a way the domestic media doesn't (much).

That's not what everyone was touting him as though.

People were on tenterhooks for Channel 4 News features night after night; for hidden scandals he was going to uncover; for nuclear storylines he was going to bust. That aspect's been rather damp-squib-like, thusfar.

[archie guevara]

Clearly a lot what he observes is true. And a lot of what he says he says in a way the domestic media doesn't (much).

That's not what everyone was touting him as though.

People were on tenterhooks for Channel 4 News features night after night; for hidden scandals he was going to uncover; for nuclear storylines he was going to bust. That aspect's been rather damp-squib-like, thusfar.

He's a victim of new media. He trails stuff on Twitter and by the time he posts it, it's already been discussed here and shouted about incoherently on Rangers Media.

You'd be as well reading Jim Traynor in the Record.

[Thistle_do_nicely]

If HMRC accept a CVA then 2 things happen. 1. They get more in the £ that they would if they liquidated the club and sold the assets and 2. They have an continuing business with a turnover of, say, £40M a year paying tax, VAT and NIC (assuming the new owner is not Whyte!!)

So HMRC have a judgement to make: will they get more money through liquidation or more money through accepting a CVA

Not as clear cut as that.

There's also the clear headache of accepting a CVA and getting a fraction of the debt sending out the message to businesses across the UK that HMRC are happy to settle for a fraction of what's owed to them even when massive amounts of unpaid tax/PAYE are accrued vs. not accepting a CVA and showing a strong hand to businesses; "pay your taxes or we'll liquidate you, big reputation or no".

[Fife Saint]

The bigots are smallfry in this crusade by the revenue. Lap it up, sisters.

[kildog]

Thompson's in it for the long haul. Proper investigative journalism takes time. Expect an extremely juicy edition of Dispatches in a couple of months. All the crooks involved in this farce, should be worried. Or maybe not...

[Greenlantern]

Who actually owns rangers?

[Captain_Sensible]

If HMRC accept a CVA then 2 things happen. 1. They get more in the £ that they would if they liquidated the club and sold the assets and 2. They have an continuing business with a turnover of, say, £40M a year paying tax, VAT and NIC (assuming the new owner is not Whyte!!)

So HMRC have a judgement to make: will they get more money through liquidation or more money through accepting a CVA

1. The revenue HMRC get from Rangers is a mere spit in the ocean.

2. Rangers revenue comes from people spending money on them. If they go bust then the people who would usually spend money to them will have a greater disposable income and will use that money to spend on other things offered by other businesses - who also pay tax, VAT and NIC. There is no net ongoing loss to HMRC from Rangers going bust. And when Rangers go bust then presumably HMRC will be entitled to a share of the sale of the assets.

3. Refusing a CVA sends out a warning to other companies.

So, in answer to your question, HMRC will get more money from Rangers going bust.

[Lex]

Liquidation and sale of Ibrox and Murray Park to supermarkets / housing developers will be the best deal for the tax payer.

I hope HMRC pushes for this and doesn't settle for 10p in the pound or a similar white wash. Rangers Newco can literally start from scratch:

No ground

No training facilities

No players

Nothing

Would be interesting to see how many of the ' don't do walking away ' brigade will turn out to watch a side of nobodies playing at a rented ground.

[Benjamin_Nevis]

Every Rangers fan I know would like us to pat 100p in the £ and it's shameful we've got to this stage.

The choice facing HMRC (if they win TBTC) is pretty simple: accept a CVA or liquidate the club and accept a divvy of the assets.

The assets are Ibrox; Auchenhowie and a few bits and bobs. Ibrox is worth f**k all. Auchenhowie is a good facility but who'd like to/afford to buy it?

I doubt that Rangers' assets would sell for more than £5M. This amounts to, say, 5p in the £.

If HMRC accept a CVA then 2 things happen. 1. They get more in the £ that they would if they liquidated the club and sold the assets and 2. They have an continuing business with a turnover of, say, £40M a year paying tax, VAT and NIC (assuming the new owner is not Whyte!!)

So HMRC have a judgement to make: will they get more money through liquidation or more money through accepting a CVA

Firstly, If HMRC vote to accept the CVA, they are giving carte blanche to any other big clubs with massive/potentially massive tax bills to say "f**k you, here's your 10p in the £". Not going to happen.

Secondly i think someone else posted this way back in the thread, but HMRC, where listed as creditors in other football administrations have always voted against a CVA.

Thirdly, the HMRC aren't like the other creditors. They are not a business who will face a profit/loss clusterfuck by refusing a fraction of the debt. They have been looking to kick a high profile football club in the bollocks for quite sometime. They tried but were ruled against at Portsmouth, and now they'll try with Rangers. It makes absolutely no odds to HMRC whether they lose out entirely on £80million, or accept £8million and lose £72million.

[No8.]

Rangers Newco can literally start from scratch:

No ground

No training facilities

No players

Nothing

You forgot No Money..No Kits...Not even a ball.

We'll still carry on.

[nijmegen bairn]

May you carry on into the sunset with your White or should I say Whyte night carrying away your loot

[No8.]

May you carry on into the sunset with your White or should I say Whyte night carrying away your loot

I have no loot after your team drew with QotS today!!! That was my banker away win!!! Cheers

[Borys]

Who actually owns rangers?

Craig Whyte.

Borys

[weirdcal]

?

what he means is the football club is just a front for knuckle dragging morons to sing about irish politics and general bigotry

[WeeHectorPar]

Just what the fvck is going on here? I've been trying to quote this page for over an hour and keep getting the reply "You must enter a post"

http://leggoland2.blogspot.fr/

You'll just have to look it up as I can't quote it.

However if what it says could only be true I should happily wake up dead when it happens.

[No8.]

what he means is the football club is just a front for knuckle dragging morons to sing about irish politics and general bigotry

Racism...You forgot Racism!!!!!

[WeeHectorPar]

One last try before I give up :angry::angry:

RANGERS NOW ON BRINK OF OBLIVION

DUFF and PHELPS have placed the very existence of Rangers in danger by the delaying tactics of "Dilly and Dally", Paul Clark and David Whitehouse.

That may sound overblown and dramatic. But it is true.

Rangers are now in serious jeopardy and they could even DISAPPEAR!

That danger is now becoming obvious as the days have dragged on into weeks and then months, with Duff and Phelps failing to do their jobs, pushing Rangers from one crisis to another.

Now there is a growing concern that Duff and Phelps are a struggling to cope and that they are no more than….

THIRD DIVISION ACCOUNTANTS!

That Paul Clark and David Whitehouse, the Duff and Phelps Two, "Dilly and Dally," are professionally way out of their depth and their bumbling indecision is pushing Rangers towards….

OBLIVION!

Forget all the fancy dan language and legalese in which their statements are framed. That's an old trick and they are just using words to attempt to bamboozle people and hide behind them, as, in my experience, incompetents often do.

How many more times will "Dilly and Dally" the Duff and Phelps Two, Clark and Whitehouse, announce a final and binding date, only to bottle it and use delaying tactics?

At the moment the only thing which is final is the indecision of the Duff and Phelps Two. The only thing which is certain is the indecision of the Duff and Phelps Two. The only thing which is clear is the indecision of "Dilly and Dally."

Remember this pathetic pair asked for bids to be in by March 16, more than a month after they took control of Rangers. We are now a further month on. It is now eleven days since they then said was the deadline for final bids, with the clear indication that they would name their preferred bidder in, at most, a week.

Then, as that seven day time frame expired on Friday the 13^th, a day of infamy for the Duff and Phelps Two, they got stage fright again, indecision gripped them once more and they stalled once more.

Only this time they LIED as to what their reason for the latest poor performance from Duff and Phelps was. They said ALL three bidders were demanding face to face talks with the Scottish Premier League.

NOT TRUE!

Paul Murray and his True Blue Knights did nothing of the sort. They know that as far as their plans are concerned, the SPL proposals don't mean a thing. Paul Murray and the True Blue Knights will NOT plunge Rangers into liquidation.

What they will do, if they gain the keys to the Blue Room, is lift Rangers out of administration, hand a budget to Alastair McCoist, which will allow him to start the vital team rebuilding process.

Paul Murray and the True Blue Knights will also make it a priority to renegotiate the contracts of those star players who are key to the Rangers' future and who took a 75per cent wage cut in return for being allowed to leave at a cut price fee.

Remember, the Duff and Phelps Two were quick enough off the mark in that situation. Maybe that had something to do with the £4M that those players' wages cuts saved, funding the administration process. It has effectively paid the Duff and Phelps bill.

As the Duff and Phelps Two continue to drag their feet, as they continue to play the roles of "Dilly and Dally," the pressure mounts on manager Alastair McCoist. And it must be causing him sleepless nights.

Only a fool would not be extremely concerned for the strength of the playing squad which will be available to Rangers next season. And one thing Alastair McCoist most certainly is not, is that.

He was always a bright young man and he has grown into an extremely shrewd older man, an eager and quick learner who has been schooled in the ways of management by that wiliest of all wily old foxes, Walter Smith.

But that is to say that there will be a Rangers still there for McCoist to worry about next season.

For the chances of OBLIVION are now increasing with every day which passes during which "Dilly and Dally" delay. With every day during which the Duff and Phelps Two's indecision increases. An indecision which could have a huge impact on the fundamental issue of Rangers rebuilding the team for next season. At best.

But which, at worst, now threatens to utterly destroy the very fabric of the club, to such an extreme extent that Rangers are sent not just into liquidation, but hurtling towards….

OBLIVION!

In blunt terms, it is time for Duff and Phelps, for the Duff and Phelps Two, Paul Clark and David Whitehouse, "Dilly and Dally" to s**t or get off the pot

Edit: Sorry for the horrible spacing; I had to paste it into Word and then back onto the forum to get it to work. Won't happen again.

Edited April 15, 2012 by WeeHectorPar

[Greenlantern]

'dilly and dally'. I'm using that one, cheers!

They do look like a couple of private wee schoolboys, who've been asked to buy fags at the shops that is mobbed by neddy wee runts kicking a ball off the shop window.