THE KING Posted October 15, 2015 Share Posted October 15, 2015 (edited) Aborted if that keeps you happy, however you want to word it, it did not succeed, nor was a new CVA proposed, that is why KPMG were forced to offer the 'business and assets' for sale on the same day the CVA failed. The 'business and assets' were bought by a newco, a newco that accepted a provision to pay some debt as part of the deal, they still left behind millions of pounds that will never be paid back. The newco that purchased Rangers 'business and assets' also agreed to pay some debt in a deal with a Scottish FA which enabled them to continue on just as Leeds did a deal with the English FA. Funny how every media outlet in the country reported that Leeds came out of administration whilst every media outlet reported Rangers CVA failed and were to be liquidated?!...must be a nationwide conspiracy.ETA the Leeds CVA was agreed by the creditors Rangers failed , the Leeds CVA was due to be challenged by the HMRC but they withdrew . Edited October 15, 2015 by THE KING 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted October 15, 2015 Share Posted October 15, 2015 Hmrc tried to challenge Leeds CVA then withdrew, however they killed Rangers....boohoo..... (Rangers) Clark opened proceedings by stating: "HMRC have now formally voted against the CVA proposal. "Given that HMRC have more than 25% of the debt, they have the ability to vote it down. That has happened. "The purpose of voting today is now academic - unfortunately, this is a failed CVA. "HMRC believes it will be of a greater benefit to the taxpayer, and the creditors generally, for liquidators to have a full investigation into the running of the company." Ticketus, the other major creditor which is owed just under £27m, and which was in favour of the CVA, and was represented in the room. 0 Quote Link to comment Share on other sites More sharing options...
aofjays Posted October 15, 2015 Share Posted October 15, 2015 The Leeds CVA was challenged by HMRC, after this the administrators stated that a CVA was no longer a possible option, they also stated it had no chance of success. In both cases the administrators stated the 'business and assets' were sold to a newco, in Rangers case HMRC stated that liquidation would have no affect on the sale of the club. What was the name of the club (that obviously was a member of the SPL) that voted to allow your new team (obviously not a member club) membership of the SPL? Is any sevco fan ever going to answer this? I'm guessing not since it makes their stance look really stupid. They'll just keep going on and on about "so and so said it's the same club", as though that somehow make any difference to the obvious existence of two clubs called rangers at the above vote. -1 Quote Link to comment Share on other sites More sharing options...
10menwent2mow Posted October 15, 2015 Share Posted October 15, 2015 Still awaiting an answer as to the League Cup question. Surely as they finished 2nd in the 2011/12 SPL they entered in the 2nd round. 0 Quote Link to comment Share on other sites More sharing options...
forever_blue Posted October 15, 2015 Share Posted October 15, 2015 Wee aofjays still raging .lol 54 and counting dude 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted October 15, 2015 Share Posted October 15, 2015 Why are you all so keen to keep Leeds alive? 0 Quote Link to comment Share on other sites More sharing options...
kildog Posted October 15, 2015 Share Posted October 15, 2015 Rangers cheated, then they died. The clock is ticking for Sevco. 0 Quote Link to comment Share on other sites More sharing options...
aofjays Posted October 15, 2015 Share Posted October 15, 2015 Wee aofjays still raging .lol 54 and counting dude No answer then? Just going to keep telling fibs eh? Bless. Classy people those sevco fans. -1 Quote Link to comment Share on other sites More sharing options...
laughing gravie Posted October 15, 2015 Share Posted October 15, 2015 The great thing about the current manifestation from Ayebrokes is the number of identities held. 1. We've won the league blah blah blah times, which in fact was Glasgow Rangers, and not Sevco FC, where you should read 2nd and 1st Division Champions. 2. We've won the league Cup blah blah blah times, which in fact was Glasgow Rangers, and not Sevco FC, where you should read runners up in the Pontifact Cup. 3. We've won the Scottish Cup blah blah blah times, which in fact was Glasgow Rangers, and not Sevco FC, where you should read still trying. 4. We owe the taxman £70+ million, but that was Glasgow Rangers and not Sevco FC. So what identity are you today? Seems to be it depends what way the wind is blowing. And earlier in here someone asked if we believe stats coming from the SPFL concerning this precious club (to them that is). Of course we don't, isn't it basically the same clowns that couldn't run 12 teams when they were in charge of the closed shop that was the SPL? They couldn't realistically run 12 so why would or should we trust them with 42? Must be something to do with the contortionists they have employed since the SPL and the SFA merged, they have bent and twisted every which way and more to try get the beloved Govan boys, in whatever guise they choose, wind allowing, back in the top flight at any cost. And they wonder why they are so disliked and hated by almost one and all! 0 Quote Link to comment Share on other sites More sharing options...
MikeyWellFan Posted October 15, 2015 Share Posted October 15, 2015 It must be fucking soul destroying being a Rangers supporter. They will have to constantly justify their teams continuation for generations to come. No matter how many titles they win or how well they do on the pitch, they will forever be remineded and goaded about this situation. It will never end. 0 Quote Link to comment Share on other sites More sharing options...
calum_gers Posted October 15, 2015 Share Posted October 15, 2015 It must be fucking soul destroying being a Rangers supporter. They will have to constantly justify their teams continuation for generations to come. No matter how many titles they win or how well they do on the pitch, they will forever be remineded and goaded about this situation. It will never end. It's actually alright. It's just football Mikey. 0 Quote Link to comment Share on other sites More sharing options...
accietilleyedye Posted October 15, 2015 Share Posted October 15, 2015 The Leeds CVA was challenged by HMRC, after this the administrators stated that a CVA was no longer a possible option, they also stated it had no chance of success. In both cases the administrators stated the 'business and assets' were sold to a newco, in Rangers case HMRC stated that liquidation would have no affect on the sale of the club. In which case was the sale of the club and it's assets agreed(in principle) before the failure of the CVA ? In which case did the HMRC agree to the sale after the failure of the CVA and receive monies owed by the 'failed' company? 0 Quote Link to comment Share on other sites More sharing options...
forever_blue Posted October 15, 2015 Share Posted October 15, 2015 No answer then? Just going to keep telling fibs eh? Bless. Classy people those sevco fans. Your too easy 0 Quote Link to comment Share on other sites More sharing options...
MikeyWellFan Posted October 15, 2015 Share Posted October 15, 2015 Paying tens of thousands on adverts, ASA appeals,, web sites, goes beyond simple goading, for the 'we thought they died' brigade, this is serious business. As it is for you and your 18,000+ posts on the matter. You'll be defending your team for eternity as this whole sorry saga will never be forgotten. There is no end game for you or your club. 0 Quote Link to comment Share on other sites More sharing options...
laughing gravie Posted October 15, 2015 Share Posted October 15, 2015 Oops, SPL and SFL merging to become one (non)entity. But does that actually alter the sh!t here? 0 Quote Link to comment Share on other sites More sharing options...
mythstoliveby Posted October 15, 2015 Share Posted October 15, 2015 Your You're too easy. Just fixing that for you since it looks like they've not taught you that at school yet. 0 Quote Link to comment Share on other sites More sharing options...
MikeyWellFan Posted October 15, 2015 Share Posted October 15, 2015 To be fair I have had a fair few laughs doing it too, at least I have not had to spend tens of thousands of pounds trying to prove it. The thing that would irritate me is that in years to come, Rangers will not be remembered for all the trophies and glory, simply the fact that they went tits up. This whole saga is bigger than anything Rangers will ever do on the pitch. There will never be a 'business as usual' for Rangers. The name 'Rangers' will forever be synonymous with administration, liquidation, HMRC etc. 0 Quote Link to comment Share on other sites More sharing options...
aofjays Posted October 15, 2015 Share Posted October 15, 2015 Your too easy No answer? Finally admitting sevco are a new club? Or are you just going to continue trying to wind me up by making me laugh? 0 Quote Link to comment Share on other sites More sharing options...
MikeyWellFan Posted October 15, 2015 Share Posted October 15, 2015 It's actually alright. It's just football Mikey. For sane and sensible people like yourself. For those who have built their entire existences on the back of a successful football team, it must be soul destroying. 0 Quote Link to comment Share on other sites More sharing options...
accietilleyedye Posted October 15, 2015 Share Posted October 15, 2015 HMRC did not agree in principle, that is why they challenged it and that is why it never succeeded. In both cases HMRC will receive monies from the failed companies. I didn't ask if they(HMRC) agreed to the sale in principle, the administrators did though, as you are obviously well aware, the sale then went on to succeed with the tacit agreement of HMRC "Taxman pulls out of Leeds United court challenge". So either address the questions asked or do a bennett and disappear when you are asked a difficult question you don't want to answer as it doesn't suit your argument or you genuinely don't know how to answer 0 Quote Link to comment Share on other sites More sharing options...
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