Big Rangers Administration/Liquidation Thread - All chat here!

[The Poker King]

That is a fantastic article - admitedly most of the points look as if they've been lifted from this forum but thats OK. At least someone is paying attention

At least someone is researching figures instead of banding around phrases like 'football Armageddon' and 'financial meltdown'

Makes a pleasant change.

[kildog]

This forum is generally full of great discussion, but let's knock the first bolded point on its head as it keeps reapearing: many, many Rangers fans have been saying D3 from the moment Rangers went bust (all the polls reflect this), and a large number want to do it for the right reasons. Don't get me wrong, I'll readily admit our support has plenty disgusting, bigoted, arrogant, glory hunting c***s who don't have the interests of Scottish football at heart, but if you want to categorise the whole Rangers support by sampling from RangersMedia (not particularly you, but this thread generally) then you're just as foolish as most of the muppets who seem to post there.

On the second point, sporting integrity cannot have a price, at any cost. Everybody knows that league reconstruction is necessary for our game to prosper - it wouldn't even be on the table as a bargaining chip if this weren't the case. We're beginning to realise what fan power can accomplish, and there's no reason we can't keep applying it to achieve the reforms we'd like to see in the long run, assuming when this is over that we can stop squabbling long enough to get organised. This is especially the case if the old model based on TV money collapses.

The SPL is a dead horse whatever happens in the next few weeks, there's no way we can continue with 3 governing bodies whatever the outcome, and now is not the time to give in to blackmail.

You seem a reasonable chap, unless it's a ruse. Why would you choose to support a bigoted institution like Rangers? Serious question.

[thelegendthatis]

Whether the settlement is contractual or not will become irrelevant if the clubs don't have the money to pay.

Other than the fact that the SPL is a company. OK a company with only 12 shares at £1 each.

They obviously have money put into it by the member clubs and sponsors to pay office rent and pay staff (see where I am going))

So the SFL take them to court for the £2million. I am sure there will something in their articles which says what clubs have to do if there is a shortfall but who cares, it is their problem. So the main thing is If not paid then get them wound up.

Great if the SFL clubs get the £2million from the ashes, but best of all the staff get made redundant including your friend and mine, Mr Doncaster. Then they create SFL Premier.

Looks like a treble whammy to me. ,

[Florentine_Pogen]

Other than the fact that the SPL is a company. OK a company with only 12 shares at £1 each.

They obviously have money put into it by the member clubs and sponsors to pay office rent and pay staff (see where I am going))

So the SFL take them to court for the £2million. I am sure there will something in their articles which says what clubs have to do if there is a shortfall but who cares, it is their problem. So the main thing is If not paid then get them wound up.

Great if the SFL clubs get the £2million from the ashes, but best of all the staff get made redundant including your friend and mine, Mr Doncaster. Then they create SFL Premier.

Looks like a treble whammy to me. ,

Actually, there are 16 shares @ £1 each. I, and other posters, have long wondered whom the extra 4 shares belong to.

Re. the Settlement Agreement - read the Clyde document from yesterday. The onlyway the SPL could avoid paying the £2m is by deliberately committing a breach of contract. The SFL could then send us all to Hell in a handcart.

Edited July 11, 2012 by Florentine_Pogen

[ray_of_licht]

http://www.scottishlaw.org.uk/lawscotland/abscotslawland.html

Heritable property (also heritage)

Heritable property ("real" or "immovable") as opposed to moveable property includes only naturally immovable items such as land minerals, or any object attached to the land such as buildings. Trees, crops and other plants are only regarded as heritable when they are still growing in the soil; once they are cut down they become moveable property. Rights connected with heritable property such as servitudes or debts secured over land are also heritable.

More tattie planting

[Booker_d]

Just reading it through just now but one bit included in the 'Patting yourself on the back' section is this corker (10.8, p36),

"The history and spirit of the Club have been preserved by the sale which completed on 14 June 2012 and it is now the responsibility of the new owners to secure its future."

Despite saying in section 6

6.1 As set out in the Proposals, a CVA would have enabled the corporate entity formed in 1899 in

which the business and assets of the Club vest, to continue to trade

6.3 Participation in European football has historically generated significant revenues for the Club and

coupled with more straightforward approach with the SPL a CVA was therefore an attractive

framework for the Club to continue to trade in its current guise.

6.6 In the few days prior to the meetings HMRC confirmed that having had the opportunity to consider

the CVA Proposal, its vote to be cast on the day of the meetings, would be to reject the Proposal

in order to allow the subsequent appointment of Liquidators. Liquidators have a number of

investigatory powers not available to Administrators which will provide the opportunity to pursue

(former) Directors of the Company accordingly. A CVA and liquidation cannot run concurrently in

these circumstances.

6.7 As a consequence of HMRC‟s vote, the meetings held on 14 June 2012 were a formality to

declare that the CVA Proposal had not been passed by creditors.

Edited cos I missed bits.

Edited July 11, 2012 by Booker_d

[Stag Nation]

If the claim is that of the £5.5m purchase, that Green paid only 'paid £1.5m for "heritable properties", understood to be Ibrox Stadium, Murray Park and the Albion Road car park', then surely that is a horrendous undervalue which BDO have to investigate and , potentially, seize back those assets for Creditors.

Ibrox etc. are only worth what someone will pay for them. If Green was indeed the highest bidder (and no-one seems to be disputing that) then the administrators can't be faulted.

[greyman]

Find it unbelievable that Charlie has said he will take the year long transfer embargo as long as it's after the summer 1st august. That would mean missing one transfer window as I would assume that there would be a lot of tapping up players next year and getting them signed before the 2013 window is closed. Granted they'd have to be free agents but still.

[AyrshireTon]

I hope that Friday's meeting opens with Hutton proposing that they can ram their new reconstruction plan.

[Florentine_Pogen]

At least someone is researching figures instead of banding around phrases like 'football Armageddon' and 'financial meltdown'

Makes a pleasant change.

Spot on PK. Just another effect of the power of The Diddy Collective, 'journalists' now having to work to earn a living. Is it any coincidence that Chick Faeces has been posted MIA ?

[Granny Danger]

Looking at Haudit & Daudit's interim report. I thought Whitehouse and Clark were the only two Duff & Phelps employees of 'Partner' status that were working on this. According to the report over a 19 week period they have billed 2,597 'partner' hours. This works out at over 68 hours per week each for Messrs. Whitehouse and Clark! Hard working guys maybe?

[Claymores]

Ibrox etc. are only worth what someone will pay for them. If Green was indeed the highest bidder (and no-one seems to be disputing that) then the administrators can't be faulted.

I disagree - the notional figures produced by H&D placed a estimated disposal value on Murray Park of £3-4m alone (for disposal in an asset sale for an alternative use in a sporting/recreational capacity). Allied with the notional rental value of Ibrox to any pheonix club (or alternative), surely the best value for creditors was to split the 'club' and the heritable assets and dispose of them separately in liquidation.

[marty_j]

It may be that the board forced the Chairman to change his voting intentions once his ownership of Rangers shares was revealed by Thomson, in which case Thomson has nothing to apologise for.

That is certainly his take on it but as far as I am aware it was always a "no" - it would have been out on Saturady past but board meeting was cancelled. I think he just made an assumption based on STV and @celticresearch - put 2 and 2 together and made 6. Tweet did serve on epurpose meant board released statement - something they may not have done if it wasn't for the dozens of abusive emails they recieved following thommos "revelation"

[Kyle]

I'm looking forward to the reactions of the chairmen/representatives after today's meeting. That will give us a much better idae of how this is going to pan out. As I've said previously though, I don't think any club who have publically declared a no can or will change their stance.

[Quentin Taranbino]

I'm looking forward to the reactions of the chairmen/representatives after today's meeting. That will give us a much better idae of how this is going to pan out. As I've said previously though, I don't think any club who have publically declared a no can or will change their stance.

Have I missed something - whats happening today?

[Jags4ever]

How in the name of f**k can they make a "package" of information up today at the SFL meeting and send it to the clubs tonight and expect them to make an informed decision by Friday ?

Thats just fucking lunacy to make such a monumental decision in such a short timescale.

Fucking idiots that actually think this is acceptable.

Ballantyne and Leishman on SSN just soudded like blethering idiots IMO, Wouldnt trust them with anything.

[Florentine_Pogen]

From RTC Blog comments :-

Tangerine Taysider says:

11/07/2012 at 8:41 am

The credibility of Doncaster and Regan is taking an absolute hammering. We have:

stevensanph says:

11/07/2012 at 7:39 am

Congratulations on getting an excellent article into the MSM. The threat of losing the Sky income has been central to the scaremongering of Doncaster. Your article raises serious questions about the credibility of how he has portrayed the impact of losing Rangers on the Sky / ESPN deal. I hope that encourages more SFL Chairmen to question what they have been told, especially given that we have:

A fantastic statement from Clyde. Clear, analytical, logical and devastating to the credibility of Doncaster and Regan. There is no scope for the SPL to no longer meet their obligations under the terms of the Settlement Agreement. Incredible that the CEO of the SFA, the governing body for Scottish Football, has supported threats that have no legal foundation given the unambiguous wording of the Settlement Agreement. It is also clear that the SFA and SPL are putting the pressure on the clubs in the SFL to make a decision in a factual vacuum, a lack of transparency consistent with their interaction (or lack of it) with the media. How can they expect fans to be persuaded to their agenda when they are unable to convince the clubs?

Doncaster and Regan, we don’t know why you are trying to ignore rules, bend them or delay action, distort facts or withhold information while bullying clubs, but we can all see that that is what you are doing. We have lost any respect for you. You say you are interested in what is good for the future of Scottish football. The future of Scottish football requires your resignations. Now.

Edited July 11, 2012 by Florentine_Pogen

[Kyle]

Have I missed something - whats happening today?

Is there not a meeting at Hampden today? Thought I read on twitter this morning that the SFA/SPL/SFL board's presentation was today for the clubs, and the vote was on Friday.

Edited July 11, 2012 by Kyle

[GlasgowCeltic.org]

Why do these c***s like Longmuir, Doncaster, and Regan still have jobs?

James William Ballantyne, and Campbell Ogilvie.

[Itwiznaeme]

Why do these c***s like Longmuir, Doncaster, and Regan still have jobs?

The answer will be very similar to, if not the same as, why liars such as David Cameron, Nick Clegg and their accomplices still have jobs.