Big Rangers Administration/Liquidation Thread - All chat here!

[Cowden Cowboy]

Not sure if it's come up before but how can oldco rangers vote on newco rangers being voted into the league?? The oldco don't meet the spl criteria ie. They don't have a ground to compete in or a football team as this was transferred over to the newco. This would be the most gratuitous breach of the spl rules if they were on top of all the other rules that have been.

Surely oldco Rangers would recognise they have a conflict of interest and thus do the honourable and correct thing and abstain from voting. I am sure their fans would agree given their concerns with probity and integrity.

[GunnerBairn]

Surely oldco Rangers would recognise they have a conflict of interest and thus do the honourable and correct thing and abstain from voting. I am sure their fans would agree given their concerns with probity and integrity.

An abstain is as good as a no vote. Feel free Oldco feel free.

Edited June 16, 2012 by GunnerBairn

[stonedsailor]

Spot on and I mentioned this in an earlier post.The oldco still holds the license.

Aye and because of that the player registrations for Rangers cannot be transfered to sevco as they hold no footballing credentials. Would this mean any proceeds from players sold just now would go to Creditor pot?

[somner`s love child]

Reconstruction is the last thing we need just now. Wait until the newco(rpse) is finally buried. No easy access for them.

Wrong. Reconstruction is exactly what we need and it can`t come soon enough. There`s no way that Newco will be allowed into a top le ague run by the SFA/SFL. in the current climate. For diddy teams this is just about the best we had hoped for if true.

[greyman]

Spot on and I mentioned this in an earlier post.The oldco still holds the license.

Shirley if the club can't meet the criteria then they veto any right to anything to do with the league?

[GunnerBairn]

BOOM!! 1876!!! Pwoud, vewy vewy pwoud......

[Sam Leitch Loyal]

Spot on and I mentioned this in an earlier post.The oldco still holds the license.

D+P hold the license now. It's they who will be voting.

[WeeHectorPar]

Aye and because of that the player registrations for Rangers cannot be transfered to sevco as they hold no footballing credentials. Would this mean any proceeds from players sold just now would go to Creditor pot?

One minor point, but Rangers don't hold the players' registrations; they are held by the SFA. Oldco hold the players' employment contracts and this is why they can walk away under TUPE. No reason why the SFA should refuse to annul their registration and make them free agents.

Edit; Just to add that SFA have no reason to prevent players walking away now that FIFA have washed their hands of the matter. Shouldn't thing UEFA will want to get mixed up in this either.

Edited June 16, 2012 by WeeHectorPar

[blanco]

Aye and because of that the player registrations for Rangers cannot be transfered to sevco as they hold no footballing credentials. Would this mean any proceeds from players sold just now would go to Creditor pot?

What player in their right mind is going to agree to be sold now when they can pocket the transfer fee themselves when the inevitable happens.

[Leepylee]

Why are you so obsessed with our debt? What about dundee utd's debt or hearts'?

Killie messed up chasing the impossible dream plus believing the sfa when they hinted they could put the off international friendly their way if there ground was big enough.

Now that bubbles burst and reality has bitten deeply. It's a struggle for us to survive year on year but so far the club are scraping by and doing it the honest way. This threads not about clubs in debt from chasing a dream it's about one club that rather kicked the arse out of it , chasing a champions league dream with dubious financial practices THAT'S a very different area entirely.

[greyman]

D+P hold the license now. It's they who will be voting.

Mibbes D&P vote no to the newco getting in to help the mastermind uncle watty get the club from baron greenback for a better price? Theyre not going to care now, they just want to get the f**k out of Dodge with their £6,000,000 and an all expenses paid holiday to Grand Cayman?

[welshbairn]

What player in their right mind is going to agree to be sold now when they can pocket the transfer fee themselves when the inevitable happens.

The one's who couldn't hope to get as inflated wages anywhere else will stay and hold Newcorpse to the letter of their contracts. Most of the rest will leave when the legal stuff is clarified.

[Supras]

Please tell me big house guy is still alive.

I've grown fond of him.

[Granny Danger]

The one's who couldn't hope to get as inflated wages anywhere else will stay and hold Newcorpse to the letter of their contracts. Most of the rest will leave when the legal stuff is clarified.

I envisage a scenario where a player stays and is treated as a hero by ra peepul. Smith's consortium takes over and tries to cut wages and when the same player refuses this he is branded a traitor by the same h*ns.

[greyman]

Thinking of songs for a yes to newco vote. I'll go with:

The Adventures Of Stevie V - Dirty Cash

[Florentine_Pogen]

Spot on and I mentioned this in an earlier post.The oldco still holds the license.

The following from RTC Blog Comments

SPL Articles of Association

14. If:-

(i) a Member shall cease to be entitled to hold a Share; or

(ii) a trustee in sequestration, manager, receiver or administrative receiver shall be appointed in respect of a Member or any property of a Member, or an administration order shall be made in respect of a Member or any property of a Member or an order shall be made or an effective resolution passed for the winding up of a Member otherwise than for the purpose of reconstruction or amalgamation;

then that Member or its manager, receiver, administrative receiver, administrator or liquidator or any other person entitled to the Share shall, on receiving notice in writing from the Board following the Company in General Meeting passing a Qualified Resolution that such notice should be issued by the Board and confirming the identity of the proposed transferee, transfer its Share to such other person as the Board shall direct at the price of £1 and the Club owned and operated by such Member shall forthwith cease to be a member of the League and the Club owned and operated by the transferee shall become a member of the League in its place.

….

17. Whenever a requirement to transfer a Share shall arise, if the relevant Member shall fail to transfer its Share within seven (7) days of notice having been given of the requirement to transfer, the Board may authorise any Director of the Company to execute a transfer thereof and a transfer so executed shall be valid and effective as if the same had been executed by the Member concerned and the transferee shall on payment of the sum of £1 to the Secretary to be held in trust for the transferor be entered in the register of Members as the holder of such Share.

…

NOTICE OF GENERAL MEETINGS

25 A General Meeting called for the passing of a special resolution, Qualified Resolution or Special Qualified Resolution shall be called by at least twenty-one (21) clear days’ notice. All other General Meetings (including any General Meeting at which a resolution in respect of a Reserved Matter for which a Qualified Resolution or Special Qualified Resolution is not required) shall be called by at least fourteen (14) clear days’ notice save for a meeting called by shorter notice if it is so agreed:-

(i) in the case of an Annual General Meeting by all the Members entitled to attend and vote thereat; and

(ii) in the case of a General Meeting other than the Annual General Meeting by a majority in number of the Members having a right to attend and vote being a majority together holding not less than 95% in nominal value of the issued Shares giving that right.

Four things:

1. If DeadRangers FC are suspended or expelled from the SFA (and lose their entitlement to an SPL share in that way) or BDo are appointed and the resolution for winding up is passed, it takes an SPL Qualified Resolution to agree the identity of the recipient of DeadRangers SPL share. A Qualified Resolution requires 90% of members to agree – effectively 11 out of 12 (or 10 out 11 if DRFC don’t get a vote).

2. To call a General Meeting, where a Qualified Resolution is required, there must be a 21 day notice period.

3. To give shorter notice, 95% of members must agree – effectively all 12 (or all 11).

4. If the SPL wish to change any of these Articles, it too requires a Qualified Resolution – 21 days notice and 90% agreement.

Since it is almost certain that DeadRangers FC will be suspended or expelled by the SFA before the SPL can lawfully convene a meeting to decide where their SPL share will go, would it not now be sensible to simply expel them for failing to produce audited accounts?

SPL Rule H5 kicks in (Dumfermline are re-instated) and the NewClub can get moving on applying to the SFL for their vacant spot in the 3rd division.

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

To avoid all the above taking place, Regan / Ogilvie and Co now want to srap the SPL at the drop of a hat. Stinks to fvck.

[Gaz FFC]

Couldn't miss this page.

Grandkids will hear about this also.

[WeeHectorPar]

Don't know if this has already been posted as I can't keep up to speed with this thread but this has got to be good news.

http://www.bbc.co.uk/sport/0/football/18471197?utm_source=twitterfeed&utm_medium=twitter

Scottish FA to push for league bodies merger

By Jim Spence BBC Sport The Scottish FA aims to push through a merger of the Scottish Premier League and Scottish Football League in time for the start of the new season.

The governing body also wants to introduce a fairer system of income distribution and a pyramid system.

One SFA source told BBC Scotland: "We are at a situation of critical mass.

"Someone has to take a lead and sort out the internal bickering and point scoring and also to ensure that the Rangers situation never happens again."

With Rangers destined for liquidation, a new company will submit a bid to join the SPL in time for next season since there are no regulations in place to cover the issue of a 'newco' route.

Once that application is received top flight clubs must wait at least 14 days before voting on the matter.

Should a new Rangers fail to gain the necessary 8-4 vote, they could turn to the SFL and apply to fill any vacancy created by a team being promoted into the SPL to take the place of the old Rangers.

Continue reading the main story

“The Rangers situation has intensified the need for a resolution and, over the next few weeks, we will meet with the SPL and SFL to find a solution”

SFA source But the SFA has lost patience with the two league bodies and is now set to push through radical change in the way the Scottish game is structured by next season.

"We need to use the mood for change among supporters in the country to tackle the current inertia and do what is right for the game," the source continued.

"Change has to be democratic, but the time for talking has passed. We need action now to save the game."

It is understood that, over the next few weeks, the SFA, which is the body that licenses the clubs to play, will hold meetings with the SPL and the SFL to push through the changes it feels are needed.

The SFA wants to merge the two current league bodies, introduce a new method of wealth distribution and to reinvigorate the Third Division with the introduction of a pyramid system to allow new clubs entry to a national league set-up.

"There is complete anarchy going on," the source continued. "Both sides are agreed on the need for fundamental change, but neither side has been able to build an alliance.

"The fans are demanding fundamental change. The Rangers situation has intensified the need for a resolution and, over the next few weeks, we will meet with the SPL and SFL to find a solution."

Dunfermline, who were relegated from the SPL last season, could be the team to benefit if a new Rangers fails to win a place in the top division.

Pars chairman John Yorkston welcomed the idea of a SFA-driven merger, although he was sceptical about how quickly such a move could be realised.

"Someone needs to take the bull by the horns," he told BBC Scotland.

"There are too many governing bodies and this should have been done long before now.

"But whether or not it could be done before the start of the season I very much doubt."

This is a damning indictment of the sorry state Scottish football has get itself into and at last people in authority are saying "enough is enough". Yorkston has probably got it right that it is too late to implement before next season but at least we have something solid on the table and perhaps an indication of how they plan to deal with The "The". And at long last a recognition of what fans are saying.

[GunnerBairn]

Couldn't miss this page.

Grandkids will hear about this also.

Give me a greeny ya tight git!

[Dr Koop]

FIFA not getting involved in the TUPE argument; it's up to the SFA to sort it out.

Just the feller to sort out all things TUPE at the SFA. I'm sure there'll be at least one senior figure in the Scottish game who'll vouch for him.