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Big Rangers Administration/Liquidation Thread - All chat here!


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Twitter reports of tonight's RFFF meeting here:

https://twitter.com/#!/nmckay82

Funniest:

Niall McKay@nmckay82Bomber asks where 30m is

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Niall McKay@nmckay82

@rangersfctrust John Brown warned about hijacking meeting.

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nmckay82 Fan- I'm not comfortable with you lot owning club as you don't know enough about our traditions, Murray, I do !!

:rolleyes:

nmckay82

Football league rules changed after Wimbledon/MK dons. Reality is we can't acquire an existing club. We could join non league.

:rolleyes:

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16m image_normal.jpgNiall McKay@nmckay82 Football league rules changed after Wimbledon/MK dons. Reality is we can't acquire an existing club. We could join non league.

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18m image_normal.jpgNiall McKay@nmckay82 CG speaking well and has support of mccoist and others within club. CG told sfa if you don't want us well go somewhere else

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22m image_normal.jpgNiall McKay@nmckay82 CG refers to turncoats who left club. CG - only one club want us point deduction and titles stripped

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lolsers............ :lol:

Woking away maybe after all!

I think I know that guy :ph34r:

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I haven't heard Brown on Clyde but did see his 'Peace In Our Time' cameo at the Deathstar last week.

Does he have mental health issues ?

He comes across very badly indeed. You look at EPL clubs or European clubs and they more often than not have someone with presence and gravitas at the helm.

Not a madman who is trying to impersonate a pish-stained semi-literate jakey.

Very poor, Sevco, must do better.

Quite often the European club spokesman can speak a foreign language,

oh, wait......................

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My mistake, I assumed that you had recorded the stream and was encouraging you to upload it to soundcloud.

Ah, no. I usually download 5Lives upallnight every morning to take to work. With the World Footie Phone-in on a Friday its worth the whole prog rather than an abridged podcast.

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Does anyone else get earache from the Mrs for spending too much time on here?

Dumb bint thinks I listen.

Nope, mine can't get on here as often as she like so she relies on me for updates on what's going on :D

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I think I know that guy :ph34r:

Well if Chuckles has indeed told SFA/SPL to do one as they leaving, gie him a bell will you?

Edited by wunfellaff
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I'm in work so couldn't listen to Sportsound, thanks for all the updates. Hope to christ it's going online soon, sounds hilarious.

One thing puzzling me in all this; Dundee's statement about not voting next Thursday as they stand to benefit. How exactly? One of Dundee and Dunfermline will go into the SPL whether Rangers are in the First or Third; it's the SPL vote which affects where Dundee'll be next season, not the SFL. Why can't they vote?

By the time the vote happens next Thursday Dundee will be an SPL team.

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8m David Stoker ‏@davidstoker_lfc

8. SFL supporters - some of your clubs have been left in a horrendous predicament. Whatever happens, back your club.

13m David Stoker ‏@davidstoker_lfc

6. Neil Doncaster has virtually no credibility

Absolutely fantastic news about Rangers but hilarious to hear Stoker coming out with these comments. "Whatever happens, back your club"? Funny that when Stoker was supporting Meadowbank Thistle he was one of literally a handful of fans who supported the franchising of the team to Livingston and stabbed in the back all his fellow supporters. Doncaster has absolutely no credibility but to hear that coming from a man whose defence for supporting Livingston was that he didn't really know enough about the situation despite having attended Thistle matches for years and even co-authored a Thistle fanzine is complete and utter hypocrisy. Of course, this doesn't make Stoker's statements incorrect but does mean that he is appalling hypocrite who was fully in favour of the club he claimed to support being raped by Bill Hunter. He's no Turnbull Hutton.

Apologies for derailing this thread slightly on what should be a day of relative joy, but Stoker can go f**k himself.

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Di Stefano (again)

http://eturnkeysec3340002378c9.users.site2you.com/content/sitenewsreadmore/infobox/news/template/default/active_id/859

“SPL COULD FACE REPERCUSSIONS IN THE RANGERS AFFAIR” SAYS DEVIL’S ADVOCATE GIOVANNI DI STEFANO. THE RANGERS ACQUISITION “A SIMPLE FRAUD THAT SHOULD HAVE BEEN DETECTED.” NO BLAME ON MURRAY. BY GIOVANNI DI STEFANO

Craig Whyte is not actually a bad guy. He is however, an unlucky one and maybe also an irrational speculator. At the age of fifteen the stuff of legend has it that he bought some shares and made some money on the stock exchange. He then invested that in his father’s plant hire company only for that to go bankrupt with debts that today would equal in the millions. An omen for what was to come?

But by his mid-twenties he tried again but never really managed to grasp anything until he moved to Monaco where the author also holds a residence. He was seen at the Hotel de Paris but was rarely given the accommodation of prestige restaurants like ‘Le Grill’.

His ability to manipulate the media and internet search engines is one of some alarm. Today notwithstanding his serious financial troubles his Wikipedia page has been manipulated with the co-operation of ‘user friendly’ ‘give us a bung’ Wikipedia editors to state:

“He is chairman of a complex maze of interlinked firms from around the world thought to be worth more than £1 billion.”

It beggars belief and the fury of Rangers supporters if that statement is true because if he truly were worth anything of the like it would be a mere formality to pay the liabilities he was contracted and obliged to pay for acquiring Rangers.

David Murray on the other hand is 20 years older than Craig Whyte. In 2008 after years of honest and diligent work he was conservatively valued (including shares and assets) at almost £800m. As a direct result of banks manipulating the economy and openly cheating the public and those like David Murray the following year his net value dropped to under £100m.

There is no doubt that honest and diligent men as David Murray were defrauded by banks and government policy based upon dishonest intentions. The victims were those like David Murray.

But David Murray was to be a victim again. Knowing that he could not sustain Rangers Football Club he sold the company to Craig Whyte for £1 believing that Whyte would pay the debts and sustain the club. After all, David Murray had lost some £700 million in one year whilst Craig Whyte was supposedly worth billions.

Originally the deal with Whyte was that Murray would sell Whyte the debts of the club and Whyte would have a minority stake. In the end Whyte bought 80% plus of the controlling shares in The Rangers Football Club Ltd on the strict understanding that the debts of the club would be transferred to a company called Wavetower Limited incorporated on the 17th September 2010. That did happen but another condition was that the bank debts i.e. money owed to Lloyds Bank PLC would also be transferred to Wavetower Limited. That would effectively make Rangers Football Club debt free.

On the 6th May 2011 the deal was cemented in stone although it had been in discussion since 2010. Wavetower Limited became The Rangers FC Group Limited.

That company and that company alone should have been the company that held the legal liabilities of the Rangers Football Club PLC. What is more important is that Lloyds Bank PLC signed an assignment that codified the transfer of bank debts from Rangers Football Club PLC to Wavetower Limited whose new name would be the confusion that Whyte sought to ensure any payments due to Rangers Football Club PLC would be in fact paid to Wavetower Limited whose new name confused all even the bankers, auditors and ultimately the SFA/SPL/SFL.

Craig Whyte uses confusion to ensure success. Wavetower Limited now known as The Rangers FC Group Limited was in fact part of his ‘big’ company called Liberty Capital PLC. That company was incorporated on the 12 December 2007 and had anyone bothered to check would have found it was a dormant company.

David Murray and his advisors certainly accepted on face value that Craig Whyte had complied with the agreement to acquire Rangers Football Club PLC namely that Wavetower Limited shortly after known as The Rangers FC Group Limited had –with the important consent of Lloyds bank PLC- legally transferred the debt from Rangers Football Club PLC to The Rangers FC Group Limited..

Rangers Football Club PLC should technically have been on the 6th May 2011 debt free.

By deliberately confusing the newly named Wavetower Limited as The Rangers FC Group Limited evidence that has now come to light is that funds that were destined for The Rangers Football Club PLC that was debt free actually were paid to Wavetower Ltd whose new name The Rangers FC Group Limited was confusing to the debtors of Rangers Football Club PLC and to the bank since it would appear Whyte ensured his companies banked with Lloyds Bank PLC.

The Rangers Football Club PLC established and incorporated as a Limited Liability Company in 1899 was thus starved of income, whilst incurring day to day liabilities.

The deceit is actually a simple one that required only institutions to be confused between the companies.

Party to this deliberate and simple deceit albeit innocently are Lloyds Bank PLC who permitted payments scheduled for The Rangers Football Club PLC to be paid to The Rangers FC Group Limited again an easy error but one which constitutes both civil and criminal liabilities.

Obviously clear that a company starved of its true income cannot last long. The Rangers Football Club PLC within a year was insolvent even though it should not have been.

But Craig Whyte played his insurance card. He knew that if he was to be absolved of any wrongdoing he would need a scapegoat. He too would have to claim he was a victim as he did when his father’s company was bankrupted owing to his schemes and only his age saved him from prosecution then.

Whyte blamed an aide who had a previous conviction for fraud and that; he thought was his insurance policy. That is yet to be seen.

The police have now opened an investigation into the acquisition and it may well uncover a can of worms that will spread from Monaco to Glasgow and involving banks, investment house, auditors, advisors, stockbrokers all of whom must or should have known what was happening.

One person who will forever blame himself will be David Murray but he holds no fault only praise. His deal was simple namely that the debts of The Rangers Football Club PLC be transferred to what he believed to be Wavetower Limited soon changing to The Rangers FC Group Limited and Lloyds Bank PLC assigning the bank debts to Wavetower Limited which it did.

The SPL have today voted in its secret session not to admit The Rangers Football Club PLC to the SPL. They say that company no longer exists and since the company is in administration and insolvent then it has no right to play in the SPL and fails the criteria test.

If The Rangers Football Club PLC had not been openly defrauded of part of its income it would not be insolvent. It was not insolvent on the 6th May 2011. The Administrators have failed to institute proceedings or obtain at least Restraining Orders against the Companies that benefited from the fraud. Lloyds Bank PLC that permitted payments directed to The Rangers Football Club PLC and paid instead to The Rangers FC Group Limited may well carry a liability and at the end of the day it will be the case that The Rangers Football Club PLC was not insolvent.

The SPL itself a Limited Liability Company may well find itself before the Courts for damages. That is why there is a rush to liquidate The Rangers Football Club PLC so the potential fall-back is mitigated.

It is estimated that millions of pounds that should have been paid to The Rangers Football Club PLC was diverted to The Rangers FC Group Limited and other names with similar ‘Rangers’ in the title.

One company however, that is solvent and which the SPL could use to permit Rangers Football Club namely the team to play is RANGERS LOTTERIES LIMITED that started its life in 1964 as RANGERS POOLS LIMITED.

It is certainly part of the ‘Rangers’ family and the SPL Rules do permit associated companies in specific circumstances to assume the share held.

It is an avenue the SPL would be well advised to consider quickly because once it is established as it will that The rangers Football Club PLC was not insolvent and was defrauded by a simple mechanism escaping all the sophistications now in force any damages caused by the SPL or other sporting bodies may well cause those bodies to be insolvent.

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brian mclauchlin ‏@BBCBMcLauchlin

Ian Black agrees in principle to join Rangers Newco but deal dependant on which league they play in. More soon #BBCSportsound

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Absolutely fantastic news about Rangers but hilarious to hear Stoker coming out with these comments. "Whatever happens, back your club"? Funny that when Stoker was supporting Meadowbank Thistle he was one of literally a handful of fans who supported the franchising of the team to Livingston and stabbed in the back all his fellow supporters. Doncaster has absolutely no credibility but to hear that coming from a man whose defence for supporting Livingston was that he didn't really know enough about the situation despite having attended Thistle matches for years and even co-authored a Thistle fanzine is complete and utter hypocrisy. Of course, this doesn't make Stoker's statements incorrect but does mean that he is appalling hypocrite who was fully in favour of the club he claimed to support being raped by Bill Hunter. He's no Turnbull Hutton.

Apologies for derailing this thread slightly on what should be a day of relative joy, but Stoker can go f**k himself.

^^^not bitter at all

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