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Big Rangers Administration/Liquidation Thread - All chat here!


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are you saying he'll be worth it ?!

EH ? :blink: I'd have thought he would have gave her hee haw .... but the donkey would have a lovely flowing shiny main glowing full of life nourished from root to tip with some sort of exotic flower extract.

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"If the CVA is rejected then the club will be acquired on a newco basis which will not benefit creditors, nor will it benefit the club in terms of participation in Europe.

I was under the impression that it was a 3 year ban regardless of what happens now? Surely Mr Green would not attempt to mislead the loyal followers he is hoping to make a fortune out of?

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We are presently seeing the incessant buzzing of a bluebottle on its back prior to death. It makes a lot of noise and may occasionally get up and fly around bashing into things but we all know it is in its final moments of life. The end is nigh.

post-38838-0-77714600-1339096588_thumb.j

post-38838-0-64031300-1339096664_thumb.j

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EH ? :blink: I'd have thought he would have gave her hee haw .... but the donkey would have a lovely flowing shiny main glowing full of life nourished from root to tip with some sort of exotic flower extract.

your obviously not au fait with animal welfare in Mexico !

Edited by sjc
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Thu, Jun 7, 2012

Tweet CHARLES GREEN - who is leading a consortium acquiring Rangers - and club administrators Duff and Phelps have reacted to allegations made by Dave King today.

Mr Green said: "Mr King's statement is breathtaking in its arrogance and is destructive to the interests of the club.

"My consortium tabled an offer, which was accepted by the administrators as the best offer for the club and its creditors and substantial sums of money have already been paid to the administrators.

"Provision has been made for working capital that does not rely on season ticket sales any more than would be part of normal operations at the club. To suggest otherwise is scurrilous and scaremongering.

"I would question Mr King's motives in urging the rejection of the CVA proposal which is the best offer available to creditors, particularly since he made no mention of this or any other issue when I spoke to him on the phone in South Africa last Friday.

"If the CVA is rejected then the club will be acquired on a newco basis which will not benefit creditors, nor will it benefit the club in terms of participation in Europe.

"In one week's time, we hope the CVA proposal will be approved by creditors and that will be an important milestone for the rebuilding of the club.

"It is also absurd to suggest I have not been communicating with fans. Only yesterday I had a constructive and progressive meeting with fans representatives which was one of many I have had over the last few weeks and there will be continuing dialogue with them. The fans will be kept informed at every stage of this process.

"People such as Mr King who, as I understand was not in a position to make a bid for the club, need to accept the realities of the situation and move on rather than continue to snipe from the sidelines."

Paul Clark, Joint Administrator, added: "I find Mr King's remarks disappointing and misleading.

"As he should know more than most, all shareholders, as well as creditors, have received access to the CVA proposals and all relevant information has been made public on the Rangers website.

"Mr King should also know, that immediately after the conclusion of next week's creditors meeting, a shareholders meeting will be convened.

"Mr Green, as the new legal owner of Mr Whyte's shares, will vote in favour of the approval of the CVA should that be the outcome of the creditors meeting.

"Mr King refers to a claim against the club. We have received a letter of claim from Mr King's solicitors which contains a number of broad and unsupported allegations concerning matters which took place some 10 years ago.

"The claims raised are neither accepted by the club nor have they been adjudicated by a court. We have written to his solicitors to ask them to provide evidence to support the claim, as all creditors are required to do.

!As a result, Mr King's suggestion that his representations have been ignored is entirely unfounded.

"If Mr King feels he has a claim against Mr Whyte or Mr Murray, then that is a matter for him and not a concern of the Administrators.

"The CVA proposal is completely transparent and gives detailed information as to different outcomes such as a newco or dissolution of the company.

"It is a comprehensive document and there have been no issues raised about its content by significant stakeholders and creditors.

"Mr King should also note that Duff and Phelps meet the Rangers Fans Fighting Fund on a weekly basis and will continue to do so."

From the RFC official website :lol:

As the end nears the bickering will only intensify, Green may have been meeting with some fans but he's filling their simpleton minds with a load of pish. Duff & Phelps representatives are just a couple of warmers, they wouldn't know what day of the week it was and they they probably downloaded the CVA template from LawDepot.

Tick Tock...

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OMG, Is the end really in sight.

So HMRC have lined up BDO Stoy as liquidators should the CVA fail, which they have the casting vote on.

The CVA has been rejected then or why bother.

:lol:

The end is indeed NIGH!!!!!!

Edited by Hey! Ho! Jambo!
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How about a game of "spot the difference" ?

post-26673-0-68005700-1339097167_thumb.p

post-26673-0-02330700-1339097183_thumb.j

The top one is fecked out, but there is still some 'play' in the lower one :ph34r:

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Today, Duff & Phelps released the results of the 20th April creditors’ meeting. It is clear that the resolutions, as they stand, are now as modified by HMRC, rather than as originally framed by Duff & Phelps. As is not surprising in this saga, matters are not clear yet.

There is some discussion about whether or not the resolutions allow a sale of the assets of Rangers to Charles Green without further creditor approval. I frankly do not see the point of the tightening up of the Resolutions, unless it gives HMRC power to “interfere”. Why would they have revised the Resolutions to put in place their own liquidator, if only to allow a sale of assets at an alleged knockdown price? I think there is enough ambiguity, as I mention below, to meet the requirement of HMRC which is that a CVA needs to be approved by creditors; an asset sale needs to approved by creditors; and if those options are gone, because Mr Green walks away, then BDO come in as liquidators.

http://scotslawthoughts.wordpress.com/2012/06/07/duff-phelps-finally-release-the-results-of-the-creditors-meeting-on-20-april/

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So HMRC have lined up BDO Stoy as liquidators should the CVA fail, which they have the casting vote on.

The CVA has been rejected then or why bother.

:lol:

The end is indeed NIGH!!!!!!

The tax authorities agreed the plan with current administrators Duff and Phelps, it was revealed on Thursday

H+D agreed it?????

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OK, so we have had King and Green battling it tonight via the media over what is best for the stricken club.

Surely it's time for Mr P Murray and the BK's to put in an appearance within the next 24 hours? I can't believe the won't pop up into the debate.

Let's see what happens.......:D

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The move was made by HMRC in April after Duff and Phelps produced their proposals to remain in post, which those owed money had to vote on.

Ah, April, so thats why HMRC has been so quiet, they got a Dead Pool on page 1690 too :lol:

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