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Big Rangers Administration/Liquidation Thread - All chat here!


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This is a joke right?

The nomad has always maintained he would resign if the reqisitioners were going to win...this move just confirms victory for King.

It does not affect the EGM and King has 30 days to appoint a new nomad, rumours are that he has already done a deal with cenkos.

As much as I would like to see rangers die I'm with Ted on this, it has long been known that Ireland were offski if King won.

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As it has been rumoured on KDS the reason given by the Nomad to the market for the resignation is more serious than the previous ones. They have basically stated that the company is not fit to be on the market ...

It puts the incoming NOMAD in a much more difficult position than a simple handover.

I think I might be wrong but the inference on not being able to meet the companies securities to the Stock Exchange is that TRIFC is (technically if not actually )insolvent and that any NOMAD coming in would have to satisfy stock exchange criteria that TRIFC was an appropriate applicant under what ever board and/or business plan that is in place.

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As much as I would like to see rangers die I'm with Ted on this, it has long been known that Ireland were offski if King won.

True, although I'd note this, from the BBC website -

The club's board announced last month that it had been "informed" that WH Ireland would quit if King took power at Ibrox after noting the Johannesburg-based businessman's convictions for 41 charges relating to South African income tax laws. http://www.bbc.co.uk/sport/0/football/31735778

That is, the current NOMAD has no interest in dealing with a company run by King due to his convictions, although I note they were apparently fine with the Easdales and their previous placky-bags full of cash behind the sofa antics.

Going by what I've read on the topic in e.g. the FT, this kind of event - resignations over the criminal convictions of the new owner, suspension of trading - is seen as fairly extraordinary by the City, although I doubt the folk at LSE are surprised by much that goes on at Ibrox these days.

And, of course, the fact that Rangers were dealing with a company called "WH Ireland" so soon after their fun 'n' games with Green and Whyte is just another cheeky chuckle in a long line of laughs.

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As much as I would like to see rangers die I'm with Ted on this, it has long been known that Ireland were offski if King won.

Might as well ask you as well , probably not fair too but more chance of a sensible answer from yourself, than what we would get off a Rangers fantasist, given everyone saw this coming when can we expect the announcement of the new NOMAD given that they should be ready to announce they're in the game no later than Friday ?

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What a busy little bralt we have today....

Even i could have guessed that this would happen with the nomads, a big deal -- ?????

One wee point Dave King isn't taking over, he has around a 14% shareholding and has stated in interviews he won't go above 30%.

EGM still going ahead acoording to reports and Densboy wets the bed.

Kings group really can't outline what their plans are until they see what the situation is at the club tbf.

the next couple of days are going to be pretty nerve wracking to say the least, hopefully Kings group and the others involved win the day and the rebuilding can begin.

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What a busy little bralt we have today....

Even i could have guessed that this would happen with the nomads, a big deal -- ?????

One wee point Dave King isn't taking over, he has around a 14% shareholding and has stated in interviews he won't go above 30%.

EGM still going ahead acoording to reports and Densboy wets the bed.

Kings group really can't outline what their plans are until they see what the situation is at the club tbf.

the next couple of days are going to be pretty nerve wracking to say the least, hopefully Kings group and the others involved win the day and the rebuilding can begin.

But,,,,"The good guys have won". The war is over.

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As much as I would like to see rangers die I'm with Ted on this, it has long been known that Ireland were offski if King won.

Rangers are (sorry, were) dealing with an entity named 'Ireland'? Were the Visigothic hordes aware of this? Were they assuming that WH stood for "We Hate"?

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What a busy little bralt we have today....

Even i could have guessed that this would happen with the nomads, a big deal -- ?????

One wee point Dave King isn't taking over, he has around a 14% shareholding and has stated in interviews he won't go above 30%.

EGM still going ahead acoording to reports and Densboy wets the bed.

Kings group really can't outline what their plans are until they see what the situation is at the club tbf.

the next couple of days are going to be pretty nerve wracking to say the least, hopefully Kings group and the others involved win the day and the rebuilding can begin.

Dave King says he will delay becoming director of #Rangers until due diligence is carried out by regulators. Paul Murray to be interim chair

Yup.

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Chris Jack ‏@Chris_Jack89 1m1 minute ago

Dave King on Nomad decision: 'reinforces why there was a complete lack of governance and transparency under its watch.

Paul Murray will act as interim chairman as regulators are 'given time to complete the necessary due diligence' on DK before he assumes role

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As regards King becoming director.

This link spells out the case. Rule number 1 seems to be relevant. Does anyone know if ALL of the creditors of the Old Club (and company) were sent notification of the re-use of the name 'Rangers' ?

eta Ooops! link

https://www.purnells.co.uk/limited-company/creditors-voluntary-liquidations/phoenix-companies/three-exceptions-to-section-216.html

Edited by cyderspaceman
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