Araminta Moonbeam QC Posted May 3, 2012 Share Posted May 3, 2012 Serious Fraud Office confidential hotline : 0207 239 7388 For the love of god, someone give them a bell. 0 Quote Link to comment Share on other sites More sharing options...
Chuckinho Posted May 3, 2012 Share Posted May 3, 2012 SFA and SPL to make statements but we haven't even heard from the Yank yet... 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted May 3, 2012 Share Posted May 3, 2012 If a club wishes to transfer its share to another legal entity, an application must be made by the existing shareholder to the SPL board. It is down to the six-man panel to decide whether to allow the move to go ahead. Who is the existing shareholder, Craig Whyte or Duffman? Scottish football governing bodies to continue talks over Rangers newco 0 Quote Link to comment Share on other sites More sharing options...
craigkillie Posted May 3, 2012 Share Posted May 3, 2012 SFA and SPL about to make statements on Newco barely an hour since the Admins Statement am i the only person who smells duplicity here. Have you actually read the statements? They would have taken about 30 seconds to prepare. 0 Quote Link to comment Share on other sites More sharing options...
BigBadSaint Posted May 3, 2012 Share Posted May 3, 2012 You could do all of that and declare yourself personally bankrupt. Totally different situation WHAT? You can't be serious different rules depending on who you are this is preposterous 0 Quote Link to comment Share on other sites More sharing options...
Drooper Posted May 3, 2012 Share Posted May 3, 2012 Because the administrators control the assets. Therefore, they can decide that this deal is the best for the creditors and sell the assets to the newco. I believe, it could be challenged though. But to do that, you'd have to argue that the assets are worth more sold on the open market. I imagine it would relatively easy for Ticketus and HMRC (among others) to prove that Ibrox and Murray Park are worth more than £11M. Surely? 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted May 3, 2012 Share Posted May 3, 2012 (edited) Because the administrators control the assets. Therefore, they can decide that this deal is the best for the creditors and sell the assets to the newco. I believe, it could be challenged though. But to do that, you'd have to argue that the assets are worth more sold on the open market. You could do all of that and declare yourself personally bankrupt. Totally different situation Well, it does in as much as the newco cant be pursued for the debts of the oldco. But, of course, that still doesnt clear up the ownership issue, as you highlighted before. Surely the creditors must have a say over disposal of assets to a Newco? Edit. On second thoughts, nothing surprises me anymore what these scammers can get away with.. Edited May 3, 2012 by welshbairn 0 Quote Link to comment Share on other sites More sharing options...
MarreZ Posted May 3, 2012 Share Posted May 3, 2012 I dont know for sure, but it seems thats the deal on the table. I guess it really depends whether H&D are working for Whyte anymore. 0 Quote Link to comment Share on other sites More sharing options...
7-2 Posted May 3, 2012 Share Posted May 3, 2012 Who is the existing shareholder, Craig Whyte or Duffman? Scottish football governing bodies to continue talks over Rangers newco "The SPL will now continue discussions with Mr Miller and his team. No further comment will be made at this time." I thought there had been no discussions between them? 0 Quote Link to comment Share on other sites More sharing options...
Guest Posted May 3, 2012 Share Posted May 3, 2012 0 Quote Link to comment Share on other sites More sharing options...
Colin M Posted May 3, 2012 Share Posted May 3, 2012 I imagine it would relatively easy for Ticketus and HMRC (among others) to prove that Ibrox and Murray Park are worth more than £11M. Surely? They could do that by citing the administrators' own report. They're only worth what someone will pay for them though. 0 Quote Link to comment Share on other sites More sharing options...
Chuckinho Posted May 3, 2012 Share Posted May 3, 2012 (edited) If I had 12 million I'd buy ibrox and bulldoze it and salt the ground so nothing would grow there. Edited May 3, 2012 by Chuckinho 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted May 3, 2012 Share Posted May 3, 2012 I imagine it would relatively easy for Ticketus and HMRC (among others) to prove that Ibrox and Murray Park are worth more than £11M. Surely? They could do that by citing the administrators' own report. They're only worth what someone will pay for them though. This, basically. How do you prove that a football stadium and training ground, neither of which, arguably, have any value as anything else, would be worth more sold on the open market? Whos going to buy them, for a start? Surely the creditors must have a say over disposal of assets to a Newco? Edit. On second thoughts, nothing surprises me anymore what these scammers can get away with.. Well, no. Thats what the administrators are there for. Theyre supposed to be working on the creditors behalf, remember 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted May 3, 2012 Share Posted May 3, 2012 Anyone know what happens to the Newco if the creditors refuse the Oldco's CVA? 0 Quote Link to comment Share on other sites More sharing options...
DensDerry80 Posted May 3, 2012 Share Posted May 3, 2012 Still don't understand why anyone would want to buy something that has the potential to be £135m in debt. It'd be like buying the titanic when its already starting to list. The holes bigger than we thought!! ...............................dont worry we will transfer to the carpathia, ................what do you mean there arent enough lifeboats! 0 Quote Link to comment Share on other sites More sharing options...
~~~ Posted May 3, 2012 Share Posted May 3, 2012 Newco = new club. Don't believe that nonsense about keeping the history -1 Quote Link to comment Share on other sites More sharing options...
Drooper Posted May 3, 2012 Share Posted May 3, 2012 "The SPL will now continue discussions with Mr Miller and his team. No further comment will be made at this time." I thought there had been no discussions between them? Well spotted. 0 Quote Link to comment Share on other sites More sharing options...
Drooper Posted May 3, 2012 Share Posted May 3, 2012 They could do that by citing the administrators' own report. They're only worth what someone will pay for them though. True, but Ticketus might fancy paying £12M and leasing the facililties back to the Newco (for example....). 0 Quote Link to comment Share on other sites More sharing options...
~~~ Posted May 3, 2012 Share Posted May 3, 2012 “@rangerstaxcase: D&P spin on liquidation: The truth is- Company SC004276- The Rangers Football Club plc will end up with status of: LIQUIDATION” 0 Quote Link to comment Share on other sites More sharing options...
Hey! Ho! Jambo! Posted May 3, 2012 Share Posted May 3, 2012 On the football club front, Oldco is finished despite the platitudes from Duff & Phelps. 1. So Newco doesn't have an SPL share and my understanding is it cannot be transfered to a company. 2. Doesn't have players and the current Oldco squad cannot be transfered. 3. Doesn't have any history as a football club. 4. Doesn't have audited account for European requirements. This is assuming Miller sticks around long enough after seeing the book's. I personally think he's just blew 500k. Even if this is possible (I have my doubts) nothing will be complete by kickoff next season and I fully expect the whole mess to get bogged down in litigation for years while Rangers fester. Happy Days!!!!!!! 0 Quote Link to comment Share on other sites More sharing options...
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