bennett Posted February 24, 2014 Share Posted February 24, 2014 He no longer posts on this thread...only gives out red and green dots. No need to be pedanTIC. -3 Quote Link to comment Share on other sites More sharing options...
Highland Dogma Posted February 24, 2014 Share Posted February 24, 2014 very hypothetical this but if all the assets eg mp and ibrox as well as car parks were used as collateral in emergency loans, and defaulted to easdales.. how would that affect an insolency event eg administration. admins would not be able to sell assets off to pay creditors, or would there be consequences for directors offering loans to an insolvent company?? is this a way of signing away assets in event of liquidation? 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted February 24, 2014 Share Posted February 24, 2014 Are they still paying the 'Nash guy' to advise them on how to save money? Phone and ask them 0871 702 1972 0 Quote Link to comment Share on other sites More sharing options...
jim999 Posted February 24, 2014 Share Posted February 24, 2014 In all of this it amazes me why the media don't ask the questions that seem obvious to normal punters? That both Sevco and non Sevco fans must be thinking. When any journalist asks anything like a relevant, probing question and then gets a flimsy answer they accept it no problem without saying "hang on, that's bollox" has anyone heard a reporter, pundit ever ask "Ally, how much trouble are you actually in as to me it looks really bad so your fans must be worried?" I'm not an expert by any means but if I was involved with a business with this sort of attitude to cash I'd be shitting bricks. 0 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted February 24, 2014 Share Posted February 24, 2014 ...Has anyone heard a reporter, pundit ever ask "Ally, how much trouble are you actually in as to me it looks really bad so your fans must be worried?" Any reporter who asked that question then followed it up with serious enquiries would be on The List before you could say Biased Bigoted Corrupt. 0 Quote Link to comment Share on other sites More sharing options...
aofjays Posted February 24, 2014 Share Posted February 24, 2014 Any reporter who asked that question then followed it up with serious enquiries would be on The List before you could say Biased Bigoted Corrupt. I don't really remember but aren't the BBC Biased Bigoted and Corrupt because they had the audacity to claim that rangers were in danger of admin? -1 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted February 24, 2014 Share Posted February 24, 2014 (edited) I don't really remember but aren't the BBC Biased Bigoted and Corrupt because they had the audacity to claim that rangers were in danger of admin? The original Biased Bigoted Corrupt protests were against the BBC telling Scotland that Craig Whyte was a shady character who might not be fit to own a major football club. This was back before Whyte showed that he really was a shady character who wasn't fit to own a major football club. The various supporters groups may or may not have apologised to the BBC for protesting their wholly accurate depiction of Whyte - I don't remember. Edit: I certainly hope the Rangers supporters groups apologised, because the very same people later spent months angrily screeching at the SPL for failing to spot that Craig Whyte was a shady character etc. etc. Which would be hypocritical, if they'd previously cursed the BBC for doing exactly what they later wanted the SPL to have done. Edited February 24, 2014 by flyingrodent 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted February 24, 2014 Share Posted February 24, 2014 I don't really remember but aren't the BBC Biased Bigoted and Corrupt because they had the audacity to claim that rangers were in danger of admin? Think it was for attempting to warn them Craig Whyte was a bit dodgy, IIRC. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted February 24, 2014 Share Posted February 24, 2014 Aye...It was Mark Daly who done a few programmes on it....He was immediately placed on the list despite telling the truth. I could've sworn nobody warned them? 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted February 24, 2014 Share Posted February 24, 2014 (edited) "Pleased to announce we are fucked." Supporters supremo Drew Roberton said fans are “extremely concerned” after it was revealed a £1.5million loan has been secured against Edmiston House, a three-storey building behind the Copland Road stand, and Albion car park. Rangers today confirmed a deal to borrow the cash from football board chairman Sandy Easdale and investment group Laxey Partners. Easdale has stepped in to offer up a £500,000 sum on a no-fee and no-interest basis, while Laxey Partners will lend the club £1million. Both loans are repayable by September 1. And Laxey Partners, the club’s single-biggest shareholder with an 11.64% stake, stand to make a £150,000 profit on their part of the deal. Mr Roberton, Rangers Supporters’ Association chief, said: “I find this latest move very strange. If the money is coming from existing investors, why does it have to be secured against Edmiston House and Albion car park? “I could understand if the money was coming from a bank, but these are investors who are meant to have the club’s interest at heart. “It is extremely concerning. I sincerely hope Rangers repay the loan by September 1 and retain the car park and Edmiston House.” Isle of Man-based hedge fund Laxey Partners may opt to take repayment in the form of fresh shares, but that would require shareholder backing at an AGM. The money loaned to Rangers will now tide them over until season-ticket renewal fees start arriving at the end of the season. A club statement said: “The board of Rangers is pleased to announce that it has entered into two secured short-term credit facilities for an aggregate of up to £1.5m.” Eta- So, the new “facilities” are secured on the car park and edmiston house (the wee hoose?) could it be because the £2.5M facility referred to in the accounts was already secured on the Big Hoose? that just leaves Murray moses mcneil cooper auchenhowie floodplain Park to be tied up before an “extraordinary event” occurs No? Edited February 24, 2014 by AberdeenBud 0 Quote Link to comment Share on other sites More sharing options...
~~~ Posted February 24, 2014 Share Posted February 24, 2014 "but these are investors who are meant to have the club’s interest at heart" Oh FFS I reckon it's been almost 30 years since someone who owned Rangers/Sevco had the clubs interest at "heart" 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted February 24, 2014 Share Posted February 24, 2014 (edited) "Rangers say the cash will be used for working capital over the "next few months". The League One leaders' raised £22million when they were floated on the stock market in December 2012, but former financial director Brian Stockbridge sparked concerns the club might be heading into administration for a second time last year when he claimed the club would be down to their last £1million by April after burning through the rest of their eight-figure stockpile in little more than 15 months.But the money loaned to them will now tide them over until season-ticket renewal payments start arriving at the end of the season.A club statement added: "The directors of Rangers, having taken advice from their nominated adviser, Daniel Stewart & Company plc, believe that the terms of the Laxey Facility are fair and reasonable as far as shareholders are concerned." :o :o If I were a Sevcoist, that last bit would have me kinda worried. Edited February 24, 2014 by Florentine_Pogen 0 Quote Link to comment Share on other sites More sharing options...
steelmen Posted February 24, 2014 Share Posted February 24, 2014 (edited) seriously? you can't make this stuff up. McCoist still wanting for players for next year http://www.bbc.co.uk/sport/0/football/26328867 Edited February 24, 2014 by steelmen 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted February 24, 2014 Share Posted February 24, 2014 seriously? you can't make this stuff up. McCoist still wanting for players for next year http://www.bbc.co.uk/sport/0/football/26328867 "Warchest" diddy.....you won't understand.. 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted February 24, 2014 Share Posted February 24, 2014 lol, the spivs would still be a safer bet than this crowd The Rangers Supporters Association, Assembly and Trust have been contacted by a number of Rangers supporters, who are also current shareholders, indicating they would have provided a secured loan of £1.5m on more favourable terms than the combined Laxey Partners/ Easdale loans. The terms of the Laxey loan in particular seem unduly onerous.We are concerned that not all shareholders are being treated equally. Fans and shareholders both deserve an explanation as to why other shareholders were not approached to provide this loan.The 3 groups call on Rangers, or the NOMAD Daniel Stewart, to clarify the matter. Either in public or through a direct meeting with fan representatives. We have contacted both companies with our concerns. 0 Quote Link to comment Share on other sites More sharing options...
scottxs Posted February 24, 2014 Share Posted February 24, 2014 Had a chat with a bear at work he seemed to think everything is ok. They had £22 million from shares and only used £14 million of that so still have £8 million left. As I asked why then the need to borrow £1.5 million to survive then if you've got that money. Angry angry bear was raging 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted February 24, 2014 Share Posted February 24, 2014 Had a chat with a bear at work he seemed to think everything is ok. They had £22 million from shares and only used £14 million of that so still have £8 million left. As I asked why then the need to borrow £1.5 million to survive then if you've got that money. Angry angry bear was raging In Sevcoland, 22,000,000 - 14,000,000 = LoanShark on speed dial. Result = PermaRage. 0 Quote Link to comment Share on other sites More sharing options...
scottxs Posted February 24, 2014 Share Posted February 24, 2014 In Sevcoland, 22,000,000 - 14,000,000 = LoanShark on speed dial. Result = PermaRage. the whole we've no debt so how can we go into admin thing was brilliant. I'll sit back and wait till admin happens. His fuzzy wee head will explode. 0 Quote Link to comment Share on other sites More sharing options...
scottxs Posted February 24, 2014 Share Posted February 24, 2014 Looking forward to the end of season already. My team may get relagated but watching the rangers implode will be superb 0 Quote Link to comment Share on other sites More sharing options...
beermonkey Posted February 24, 2014 Share Posted February 24, 2014 Just seen fat salary on SSN saying "he's been assured the club won't go into administration again". Again ? How can the club go into administration but it was the company that was liquidated ? I'm so confused 0 Quote Link to comment Share on other sites More sharing options...
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