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Big Rangers Administration/Liquidation Thread - All chat here!


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Apparently King can't announce anything about his plan publically until he's officially won the vote.

He's not exactly been silent on the whole situation so far - I'd be more inclined to suggest that he won't be announcing anything until he has thought what exactly the fúck is his plan. He seems to know a damn sight more about what's happening now than what is going to happen once he's in a position of influence. Were I a berr, I'd be sceptical. Very sceptical.

The berrz, of course, have no further options other than to pray he isn't the latest in a long line of scavengers. I'm glad it's not me that has to pin my last and final hope on this fella.

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Such as? .... Pretty sure his 5 million covers him as the main external creditor.

Edit: There are rumours that his chum Chuckles has a hefty sum owed dear reader... not sure on the validity of that. I'm sure they would agree on a way forward though. Not sure about Whyte's claim either ...

Only thing I'm fairly sure is that Mike isn't likely to allow King to make a mug of him publicly. Mike could possibly just pull the plug to give him a good slapping .. not beyond the realms of possibility.

Ye Cannae beat a bit of blogging.

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It seems bizarre to modern eyes in a predominantly secular age where we have DNA analysis but this kind of thing wasn't as Fringe as you might think.

I remember, as a child, reading about it in a Children's history of Scotland that had originally been my Grandfather's back in the early 1900s

It was explained that the Scots arrived from Ireland, Ireland was called Hibernia and Hibernia sounds too much like Hebrew to be a coincidence.

I was sceptical even then

That controversy was one of Arthur Griffiths' forays on the public stage before Sinn Fein. Hubris from the 'British Israelites', pure and simple.

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THE club owner-in-waiting has tonight released a conciliatory statement that accepts he must be scrutinised by financial and football rulers.

DAVE KING has tonight revealed Paul Murray will be named on Friday as Rangers chairman while the Stock Market and SFA bosses rule on whether he is fit and proper.

The Castlemilk-born businessman released a conciliatory statement that accepted he should be scrutinised by financial and Hampden rulers.

King, who was a director of oldco that suffered an insolvency event and was found guilty of 41 tax charges, once again thanked the fans for helping him secure the club he has always supported.

He also insisted he is ready to "rebuild relationships" with the rest of Scottish football, many of which were damaged by the likes of Charles Green.

King, who will be successful in blitzing the current board at the egm in 48 hours, said: "An important issue that was repeatedly (and correctly) raised by the previous board is the need for the regulators to be given time to complete the necessary due diligence on myself - given my intended role as chairman of the company.

"However, engagement with the regulators can only commence at the specific request of the company and that process can only be initiated on conclusion of the general meeting.

"It is important that I lead by example following my commitment to transparency and accountability.

"I will therefore delay acceptance of my appointment as director until the regulators have completed due process.

Paul Murray has agreed to act as interim chairman of the company until this process has been concluded. Additional board appointments will be announced in the near future.

"I again thank fans and shareholders for their support in bringing about the much-needed change that allows our club to progress to a better and more recognisable future.

"I stressed in previous communications that the club must operate in a transparent manner with the appropriate standard of governance and accountability.

"I also committed that the club will engage with fan groups to facilitate the continuation of the recent momentum in share purchases so that fans can become a significant voice in the future running of the club. I repeat that commitment.

"The club must also take this opportunity to rebuild relationships with the football community in Scotland. This will be to the benefit of the club and Scottish football as a whole."

King again took a verbal swipe at the existing board’s Nomad WH Ireland, who this afternoon stepped down.

He added: "I confirmed my intention to delay taking up my directorship to WH Ireland on Monday.

"Based on that decision WH Ireland agreed to remain in place to effect a proper handover to the incoming Nomad. I coordinated a call between both parties for this afternoon to effect the initial introduction.

"However, before this conversation could take place and contrary to our agreement WH Ireland resigned without prior notification to me. That lack of professionalism has characterised WH Ireland’s role as Nomad and reinforces why there was a complete lack of governance and transparency under its watch.

"Consequently, to WH Ireland’s and the board’s knowledge, it is blatantly dishonest to suggest that my imminent appointment to the board was of concern to them.

"Fortunately, the general meeting is not affected by the suspension. The new board will proceed to ensure that the listing is resumed as soon as possible.

"I ask that all who attend the general meeting on Friday do so with the calmness and the dignity that is befitting of this great club."

Oldco was found guilty of 41 taxes charges?

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Such as? .... Pretty sure his 5 million covers him as the main external creditor.

Edit: There are rumours that his chum Chuckles has a hefty sum owed ... not sure on the validity of that. I'm sure they would agree on a way forward though. Not sure about Whyte's claim either ...

Only thing I'm fairly sure is that Mike isn't likely to allow King to make a mug of him publicly. Mike could possibly just pull the plug to give him a good slapping .. not beyond the realms of possibility.

Yeh I think that is what I must have been thinking about. Time will tell I suppose!

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How is this farce over the last 3-4 years not bringing Scottish Football into disrepute?

They should be kicked out the league for good for this embarrassment.

Imagine if this was your run of the mill diddy team? No other club apart from Celtic would have been allowed to drag this sorry sideshow on for this length of time.

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How is this farce over the last 3-4 years not bringing Scottish Football into disrepute?

They should be kicked out the league for good for this embarrassment.

Imagine if this was your run of the mill diddy team? No other club apart from Celtic would have been allowed to drag this sorry sideshow on for this length of time.

This.

They have been a complete blot on the Scottish game for the past three years.

It's about time they were put out their misery.

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I know you are all lazy Bs so here is rule 1 of three.

1. Rule 4.228 of the Insolvency Rules 1986 - The first exception that will allow your company to reuse the name of an insolvent company that is otherwise a prohibited name

This is possibly the most important exception to reusing a company name in a phoenix company.Where a Company (the successor company) acquires the whole, or substantially the whole, of the business of an insolvent company, under arrangements made by an insolvency practitioner acting as its liquidator, administrator or administrative receiver, or a supervisor of a voluntary arrangement, the successor company may for the purposes of section 216 give notices under this Rule to the insolvent company's creditors.

The notice procedure to advise third parties that the old company registered name or trading name is to be reused by a successor phoenix company is very strict. Notices must be on a special form known as Form 4.73 and that Form 4.73 must be be sent to:

- The London Gazette within a set time period of 28 days within the completion of the purchase of the name and assets from the liquidator of the predecessor company and

- Every creditor of the previous insolvent company.

By following this procedure directors of the successor phoenix liability avoid the various penalties for using a prohibited company name - imprisonment, fine and personal liability for all of the debts of the successor company.

In other words if you do not follow the Rule 4.228 procedure to the letter then it is just the same as if your phoenix company was trading without the benefit of limited liability.

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I've seen a few Rangers fans on Twitter ecstatic that King's taking over. Genuinely, how can they be celebrating considering the guy's got an eye-watering amount of charges against him?

I'm curious if it's a case of simply being happy their current board is being ousted, or whether they believe King will make them compete with Celtic. Fucking nutters.

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I've seen a few Rangers fans on Twitter ecstatic that King's taking over. Genuinely, how can they be celebrating considering the guy's got an eye-watering amount of charges against him?

Sir David Murray is a virtual bankrupt who bought years of success with borrowed millions, ran their club as a borderline criminal enterprise and sold it for a pound to a fraudster.

Craig Whyte was an obvious fraudster and is due up in court on fraud charges this year.

Charlie Green swiped their money, bought a castle with it and is currently under investigation for fraud.

One of the Easdales, I forget which, went to prison over a bag of larcenous money found in his house, and both are considered to be a bit dodgy vis a vis involvement with organised crime.

And you're seriously asking why Rangers fans would celebrate having a convicted tax fraudster take charge?

Because, as the above examples show, he's a Rangers man through-and-through - just one who's a bit more professional than the parade of convicts and suspects who have been running the place in recent years.

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