wunfellaff Posted May 7, 2012 Share Posted May 7, 2012 I might mean paid though... ''rePAYEd'' means paying the taxman ''repaid'' means paying other creditors.......... 0 Quote Link to comment Share on other sites More sharing options...
Paquis Posted May 7, 2012 Share Posted May 7, 2012 But as a going concern they are effectivly trading as insolvent just now, not an attractive proposition. If I was a Rangers fan I would almost be as worried over this as total destruction through liquidation. Obviously, Rangers need to be brought out of administration either through a CVA or through liquidation and a Newco. They then need to be recapitalised. At that point you can rebuild the business on a solid footing and with well targeted investment. 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted May 7, 2012 Share Posted May 7, 2012 Rangers - along with most Scottish football clubs - has been extraordinarily badly run. Such bollocks. A handful of Scottish clubs have been really quite badly run. Most haven't and none have been run anything like Rangers. 0 Quote Link to comment Share on other sites More sharing options...
wunfellaff Posted May 7, 2012 Share Posted May 7, 2012 Obviously, Rangers need to be brought out of administration either through a CVA or through liquidation and a Newco. They then need to be recapitalised. At that point you can rebuild the business on a solid footing and with well targeted investment. You fail to mention the ''or liquidation without a newco, which may bring best value for the creditors'' option. 0 Quote Link to comment Share on other sites More sharing options...
Paquis Posted May 7, 2012 Share Posted May 7, 2012 Such bollocks. A handful of Scottish clubs have been really quite badly run. Most haven't and none have been run anything like Rangers. Badly run in the sense that they are marginally profitable, if that. 0 Quote Link to comment Share on other sites More sharing options...
thelegendthatis Posted May 7, 2012 Share Posted May 7, 2012 (edited) So 'settled' does not mean repayed? Millers plan is to punt the 'toxicity' ie debt for as little as possible. What is he going to screw out of what remains? He is 65, no real chance of any worthwile income for at least 3 years whether in the SPL or not, so how is he going to make a profit on his £11 million? It would need to be substantial to even try. And be within a short period! No the 'toxicity' is what went on that we do not know about yet. Call them skeletons in cupboards or dodgy dealing or whatever. But serious enough that no sane person would take over Rangers as a football club (or a company) as they couldn't be sure what liabilities and responsibilities were hidden away. Duff and Duffer no doubt have unearthed some of it but will be too busy to dig deeper. If they can get Miller conned into his newco that will isolate the oldco so some patient forensic accounting can unearth the story. But this will take time and money. Essential that this is gone through and a number of key players are on the sidelines making sure the unearthing of the full story will emerge. After all a high profile Scottish business going down to the tune of £100million plus which has been achieved through public subsidy (the taxpayers) cannot just be ignored, and it won't be. Edited May 7, 2012 by thelegendthatis 0 Quote Link to comment Share on other sites More sharing options...
deerokus Posted May 7, 2012 Share Posted May 7, 2012 That Celtic rumour is almost certainly pish. 0 Quote Link to comment Share on other sites More sharing options...
thelegendthatis Posted May 7, 2012 Share Posted May 7, 2012 The PAYE and debt will be settled either through a CV (like Motherwell did) or through liquidation. Hey Paquis what is your hourly rate as a corporate lawyer? Suspect you would be cheaper than some I know. 0 Quote Link to comment Share on other sites More sharing options...
wunfellaff Posted May 7, 2012 Share Posted May 7, 2012 No the 'toxicity' is what went on that we do not know about yet. Call them skeletons in cupboards or dodgy dealing or whatever. But serious enough that no sane person would take over Rangers as a football club (or a company) as they couldn't be sure what liabilities and responsibilities were hidden away. . Ahhhh, the Rumsfeld approach 0 Quote Link to comment Share on other sites More sharing options...
Paquis Posted May 7, 2012 Share Posted May 7, 2012 Hey Paquis what is your hourly rate as a corporate lawyer? Suspect you would be cheaper than some I know. Not my field I'm afraid. But I do have a corporate finance background if that helps. 0 Quote Link to comment Share on other sites More sharing options...
wunfellaff Posted May 7, 2012 Share Posted May 7, 2012 Not my field I'm afraid. But I do have a corporate finance background if that helps. ^^^^^ advised Craigy boy.......... 0 Quote Link to comment Share on other sites More sharing options...
Araminta Moonbeam QC Posted May 7, 2012 Share Posted May 7, 2012 A round up of today's Twitter rumours for those just joining us, with my own personal rating:- Explosive new BBC Scotland documentary on RFC to air in next few weeks. Will make last one look tame (reasonable chance - its not like they have the cash to sue for defamation) The Motherwell born billionaire to sell his shareholding to Kennedy (isn't his shareholding essentially worthless? Whenever two self-publicists gather together, a press release is born...) Celtic to quit SPL (batshit crazy) Bill Miller linked to right wing extremists in US Politics (clutching at straws now) 4 'journalists' are sitting on a massive story re Scottish football (so vague that anyone could claim they were right when something finally breaks). 0 Quote Link to comment Share on other sites More sharing options...
HTG Posted May 7, 2012 Share Posted May 7, 2012 Do you need a new shovel yet? Thank f**k he's here. 0 Quote Link to comment Share on other sites More sharing options...
thelegendthatis Posted May 7, 2012 Share Posted May 7, 2012 Miller's motivation remains a mystery to most Ranger's supporters. He does not have a background as an asset stripper but neither has he a track record of investing in football. I do think there is value in Rangers as a going concern. Rangers - along with most Scottish football clubs - has been extraordinarily badly run. You just need to have a look at American sport to see how they manage to generate revenue from every angle. As a going concern? Nae chance big man. It's deid, dead, kaput, lifeless, murdered, gone forever. Gone to that big field of dreams in the sky. In the US they have standards on fit and proper person taking over a club, including the 'show us the colour of your money' test. That is why we have had so many dodgy guys buying clubs in the UK like the pair who bought Liverpool, and the Glazers. Where Wiliie Miller fits I know not. Leave you to find out. 0 Quote Link to comment Share on other sites More sharing options...
wunfellaff Posted May 7, 2012 Share Posted May 7, 2012 A round up of today's Twitter rumours for those just joining us, with my own personal rating:- Bill Miller linked to right wing extremists in US Politics (clutching at straws now) I thought that was US politics 0 Quote Link to comment Share on other sites More sharing options...
Gaz FFC Posted May 7, 2012 Share Posted May 7, 2012 (edited) Anybody else get the feeling that the other 11 clubs made up their mind a long time ago that Rangers won't be relegated and are now just delaying until they can convince us it's the right thing to do? Let's be honest, this isn't 11 chairmen sitting in a big office in Hampden. It is 11 shithouses discussing the fallout from us when they tell us Rangers are too big to lose. What us stupid diddy team supporters need to learn is we have a place and don't rock the boat. Well guess what SPL, the diddies formed a union thanks to P&B and we aren't so silent now. We are ready to strike if integrity isn't seen to be upheld. If Scottish football is all about 2 teams playing each other 4 times and the world watching then please tell us now and cut the crap, we are all fucking bored of your pish. Edited May 7, 2012 by Gaz FFC 0 Quote Link to comment Share on other sites More sharing options...
7-2 Posted May 7, 2012 Share Posted May 7, 2012 Anybody else get the feeling that the other 11 clubs made up their mind a long time ago that Rangers won't be relegated Never any doubt about it. 0 Quote Link to comment Share on other sites More sharing options...
jamamafegan Posted May 7, 2012 Share Posted May 7, 2012 I say this should happen: Rangers go doon to 3rd. Dundee come up in their place. Old Firm derby is replaced by Dundee derby. Sky deal revolves round Dundee Derby. Sorted. -1 Quote Link to comment Share on other sites More sharing options...
thelegendthatis Posted May 7, 2012 Share Posted May 7, 2012 Not my field I'm afraid. But I do have a corporate finance background if that helps. Excellent, I am looking for someone who is a whizz on Excel - adding up columns, and doing sums. Suspect you are my man. 0 Quote Link to comment Share on other sites More sharing options...
wunfellaff Posted May 7, 2012 Share Posted May 7, 2012 What us stupid diddy team supporters need to learn is we have a place and don't rock the boat. Well guess what SPL, the diddies formed a union thanks to P&B and we aren't so silent now. We are ready to strike if integrity isn't seen to be upheld. If Scottish football is all about 2 teams playing each other 4 times and the world watching then please tell us now and cut the crap, we are all fucking board of your pish. Not putting a hole in yer boat, but as a Falkirk fan shouldn't your ire/rage etc be directed at the SFL? Ensure that if they do end up in the 3rd they will be but minnows, that is your purpose! 0 Quote Link to comment Share on other sites More sharing options...
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