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Big Rangers Administration/Liquidation Thread - All chat here!


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snapback.pngNo8., on 14 June 2012 - 13:37, said:

Not all of them of course as a well known Aberdeen supporter on here gave me Travelling/ parking instructions that were much appreciated for our last visit north...I wont out him here though incase he receives a backlash from his own support ;)

Did he tell you to park in TillyDrone? :-)

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Return of the tank top?

@Richwilsport: Walter Smith leading a new bid to buy Rangers. "I have been assisted by Jim McColl, Douglas Park and other prominent Scottish businessmen"

Have we not had that one already???

http://www.dailyrecord.co.uk/football/spl/2012/05/10/rangers-in-crisis-walter-smith-fronts-bid-to-rescue-ibrox-club-as-administrators-run-rule-over-new-offers-86908-23854168/

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Very true. It's not impossible that D&P are massively bent I just don't see anything in the public domain which would suggest they are.

I don't think they are bent, I think it's just a self-aggrandising profession.

Put it this way, I work in IT. Quite often I deal with contractor Test Managers. Incredibly, since contract TMs became the norm, rather then employees of the company directly, the testing effort on projects has shot up.

I've chuckled away many times in meetings as these guys have chin-stroked about needing extra cycles of testing for another few weeks before they could begin to recommend the software for release.

Why derail a gravy-train you are the driver of.

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Walter Smith sticking his bid in now according to SSN. Confirmed by himself in statement.

This could be great, Green Brigade fight Smith in court it takes longer than the start of season to complete, vote on share transfer delayed this could run and run without the relevant documentation being lodged in time for either the SFL or SPL. Happy days.

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Nae idea. I just think people are being a little hasty in throwing around accusations about a subject which they really know little about.

D&P could be doing a good job in difficult circumstances or they could be doing a relatively poor job in difficult circumstances but I haven't seen any evidence to suggest they are doing a terrible job or, worse, are bent.

You have a point there, I think. For what it's worth, IMO, when they stepped in, I thought they were just trying to get to the split, because , as we all know, they are "supposed to look after the interest of the creditors" in the first place. However, by not reducing costs, by keeping on players at high wages, even though reduced, they seemed to be looking after the team's position in the league. Even if at 14th Feb they had got rid of all but 15-20 players they would still have been in the top six, would have saved some money, unless the plan was to see it out to the transfer window to make that money up. Maybe that's where the plan went awry.

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From sportsound

STATEMENT FROM WALTER SMITH

"I can today confirm that following talks over the last few weeks I am leading a new bid for Rangers Football Club.

"I have been assisted by Jim McColl, Douglas Park and other prominent Scottish businessmen with a shared objective - that Rangers Football Club should be in the hands of Rangers people who will stabilise the club and protect it from future situations like we find ourselves in today.

"With this in mind, representatives have, on behalf of my group, made representations to BDO, Duff and Phelps and indeed Charles Green, notifying them of our willingness to offer on the "Newco" basis on which Mr Green is proceeding.

"We would call on Mr Green to step aside and allow us to proceed with our deal which is in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club.

"None of our group has any desire to own Rangers Football Club but we have put this deal in place to save the Club.

"However, our overriding objective is to ensure that the stadium, the history and everything else magical about Rangers Football Club is protected and nurtured back to good health and provide a platform for Rangers for generations to come.

"Let's be clear, this is an acquisition designed to stabilise the Club and ensure history does not repeat itself.

"We are not in this to take money out of the Club but more so to do whatever it takes in a turnaround plan to ensure within a few years the Club can be passed on intact and to the right people.

"The supporters should be under no illusion that it will be extremely hard but with their support we can overcome financial hardship that lies ahead by lending their support to what we feel is the correct way forward - for Rangers people who know the Club inside and out to control its destiny.

"The prominent Scottish businessmen involved have agreed to provide acquisition funding to allow myself and a management team to take on Rangers Football Club and make the business self-sufficient with long term sustainability being essential.

"I would hope that this offer is fully supported by everyone in the Rangers Family as without them the Club cannot and will not survive.

"We therefore want to ensure honesty and transparency in everything we do. We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for."

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"We would call on Mr Green to step aside and allow us to proceed with our deal which is in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club."

Aye, good luck with that one :lol:

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So sir dignity himself finally makes an apparence after rangers are already dead in the water with a bid to save the club, better late than never eh, trying to get them on the cheap now that its a newco they're dealing with?

Plus i thought it had been made clear the Green's deal cannot be voided so he will own the club either way, or is this probably more bullshit?

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From sportsound

STATEMENT FROM WALTER SMITH

"I can today confirm that following talks over the last few weeks I am leading a new bid for Rangers Football Club.

"I have been assisted by Jim McColl, Douglas Park and other prominent Scottish businessmen with a shared objective - that Rangers Football Club should be in the hands of Rangers people who will stabilise the club and protect it from future situations like we find ourselves in today.

"With this in mind, representatives have, on behalf of my group, made representations to BDO, Duff and Phelps and indeed Charles Green, notifying them of our willingness to offer on the "Newco" basis on which Mr Green is proceeding.

"We would call on Mr Green to step aside and allow us to proceed with our deal which is in the best interests of the creditors, the employees, the fans and the various other stakeholders of Rangers Football Club.

"None of our group has any desire to own Rangers Football Club but we have put this deal in place to save the Club.

"However, our overriding objective is to ensure that the stadium, the history and everything else magical about Rangers Football Club is protected and nurtured back to good health and provide a platform for Rangers for generations to come.

"Let's be clear, this is an acquisition designed to stabilise the Club and ensure history does not repeat itself.

"We are not in this to take money out of the Club but more so to do whatever it takes in a turnaround plan to ensure within a few years the Club can be passed on intact and to the right people.

"The supporters should be under no illusion that it will be extremely hard but with their support we can overcome financial hardship that lies ahead by lending their support to what we feel is the correct way forward - for Rangers people who know the Club inside and out to control its destiny.

"The prominent Scottish businessmen involved have agreed to provide acquisition funding to allow myself and a management team to take on Rangers Football Club and make the business self-sufficient with long term sustainability being essential.

"I would hope that this offer is fully supported by everyone in the Rangers Family as without them the Club cannot and will not survive.

"We therefore want to ensure honesty and transparency in everything we do. We want to rebuild Rangers Football Club and in doing so return the institution to the standards it is known for."

Might want to aim a wee bitty higher than that, Walt <_<

Has this been the game plan all along? :unsure:

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Throughout the process people have been laughing and pointing at the administrators and commenting that they're clearly corrupt and/or incompetent. I'd take all of that with a massive pinch of salt. The fact of the matter is that not one single creditor has challenged their conduct. If D&P were indeed making such a massive arse of it I would expect the creditors to have noticed and to have done something about it by now.

HMRC have. They refused to allow Duff and Phelps to act as Liquidators and appointed their own choice of firm in their place, and have instructed them to fully investigate Duff and Phelps's role, including, no doubt, the actions of David Grier in helping Whyte buy the club.

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I don't think they are bent, I think it's just a self-aggrandising profession.

Put it this way, I work in IT. Quite often I deal with contractor Test Managers. Incredibly, since contract TMs became the norm, rather then employees of the company directly, the testing effort on projects has shot up.

I've chuckled away many times in meetings as these guys have chin-stroked about needing extra cycles of testing for another few weeks before they could begin to recommend the software for release.

Why derail a gravy-train you are the driver of.

Ah right. Arthur Andersen were bent though so it's not impossible. Anyway, I take your point. I've no idea whether D&P are padding out their work to earn a little extra but that's a far cry from them being involved in a criminal conspiracy to defraud the creditors etc.

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