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Big Rangers Administration/Liquidation Thread - All chat here!

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Squonk

Squonk

Posted
Posted (edited)
35 minutes ago, edinabear said:

But the debt was only 56 million. The squad was definitely worth that amount. It's a shame HMRC couldn't have acted with more integrity throughout this period.

The tax debt was "only" £56 million, around a third of the total debt. The total debt was estimated at £168.8 million. The entire 2012 squad was valued at less than £20m in a court judgment by Lord Tyre last year, contrary to your 'definitely worth 56 million' claim. 

As for a lack of integrity, have you heard of David Murray, Craig Whyte, Charles Green and Dave King?

Edited by Squonk
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Benjamin_Nevis
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The most damning indictment possible of Rangers fans is the fact that nothing that's happened recently comes as a surprise. I think pretty much all of us fully expect Fatty McCoist to throw a tear sta

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Be careful what you wish for.  That was the advice McCoist offered to those of us who advocated the need for proper sanctions against Rangers FC for their years of cheating.  It is a mantra that has b

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edinabear

edinabear

Posted
Posted
1 hour ago, Squonk said:

The tax debt was "only" £56 million, around a third of the total debt. The total debt was estimated at £168.8 million. The entire 2012 squad was valued at less than £20m in a court judgment by Lord Tyre last year, contrary to your 'definitely worth 56 million' claim. 

As for a lack of integrity, have you heard of David Murray, Craig Whyte, Charles Green and Dave King?

I don't think you have your figures correct. What was the other debt you speak of?

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Squonk

Squonk

Posted
Posted (edited)
12 hours ago, edinabear said:

I don't think you have your figures correct. What was the other debt you speak of?

https://www.thenational.scot/news/19629251.rangers-should-sold-ibrox-stadium-going-administration/

Let me see if I've got this right. I have just disproved your complete fabrication that "the squad was definitely worth that amount" (£56m), but you don't think I've got my figures correct, despite the £19.7m squad valuation forming part of a legal judgment by Lord Tyre last year when he looked into the administration process undertaken by Duff & Phelps.

I didn't come up with the total debt figure of £168.8m. That was the amount reported by liquidator BDO as the total claims made against Rangers. I'm sure you're capable of typing 'Rangers,' 'BDO,' and '£168.8 million' into a search engine all by yourself, although you might want to include words such as 'deceased,' 'liquidated,' 'died' and 'croaked it' in order to maximise those search results.

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edinabear

edinabear

Posted
Posted
12 hours ago, Squonk said:

https://www.thenational.scot/news/19629251.rangers-should-sold-ibrox-stadium-going-administration/

Let me see if I've got this right. I have just disproved your complete fabrication that "the squad was definitely worth that amount" (£56m), but you don't think I've got my figures correct, despite the £19.7m squad valuation forming part of a legal judgment by Lord Tyre last year when he looked into the administration process undertaken by Duff & Phelps.

I didn't come up with the total debt figure of £168.8m. That was the amount reported by liquidator BDO as the total claims made against Rangers. I'm sure you're capable of typing 'Rangers,' 'BDO,' and '£168.8 million' into a search engine all by yourself, although you might want to include words such as 'deceased,' 'liquidated,' 'died' and 'croaked it' in order to maximise those search results.

Quotes the National newspaper. Hahahaha 

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Squonk

Squonk

Posted
Posted (edited)
3 hours ago, edinabear said:

Quotes the National newspaper. Hahahaha 

Try sticking to the facts, rather than concocting agenda-driven fiction you desperately want to be true. Liquidator BDO and Lord Tyre valued the entire 2012 playing squad at less than £20m just last year. That is a matter of fact whether you like it or not, and regardless of which publications it appears in. Your personal valuation of at least £56m is just laughable and was probably arrived at via a conspiracy theory on Rangers Media or similar site, where nothing is ever Rangers' fault and the club's liquidation and death was conspired by Rangers-haters. 

Up until your last comment, I hadn't realised I was corresponding with a primary school-age minor, so I don't intend responding any further to your juvenile posts.

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edinabear

edinabear

Posted
Posted
21 hours ago, Squonk said:

Try sticking to the facts, rather than concocting agenda-driven fiction you desperately want to be true. Liquidator BDO and Lord Tyre valued the entire 2012 playing squad at less than £20m just last year. That is a matter of fact whether you like it or not, and regardless of which publications it appears in. Your personal valuation of at least £56m is just laughable and was probably arrived at via a conspiracy theory on Rangers Media or similar site, where nothing is ever Rangers' fault and the club's liquidation and death was conspired by Rangers-haters. 

Up until your last comment, I hadn't realised I was corresponding with a primary school-age minor, so I don't intend responding any further to your juvenile posts.

The cult of Sevco

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rainbowrising

rainbowrising

Posted
Posted

Talking of integrity, here is a Rangers shareholder sheriff resigning having been identified as issuing unlawful warrants during Rangers liquidation 

https://ukdaily.news/glasgow/sheriff-who-owned-shares-in-rangers-retires-after-misleading-inquest-report-57045.html

Pyoor dignity and integrity in action.  The story unravelling around the Duff and Phelps case beggars belief. 

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Drew Brees

Drew Brees

Posted
Posted

From the Herald

DAVE KING has rejected a £25million bid for his major shareholding in Rangers.

And the former chairman has accused the Ibrox board of squandering their advantage over Celtic and undervaluing the club on the back of their recent successes.
King pulled out of his agreement with Club 1872, which would have seen the supporter organisation become the largest individual shareholders in RIFC plc, earlier this year as he labelled the proposal as 'futile' following a slow take up to the multi-million pound plan.

Just weeks later, American businesswoman Kyle Fox confirmed that she had withdrawn her interest in investing at Ibrox after being met with resistance from a number of key shareholders.

King confirmed that the bid for his 14.22 per cent stake in Rangers had not been made by Fox as he rejected the chance to cash in and end his financial interest in  rangers. 

And he has been left bemused at the recent issuing of shares - 4.2million of which were allotted in February and a further 7.7million earlier this month - that he believes has undervalued Rangers.

King was a vocal critic of former chairman Douglas Park before he stepped down from the board last week and has urged successor John Bennett to adopt a fresh approach to put the interests of supporters first.

King said: “Since 55, the board has squandered the advantage that we worked so hard to achieve – the current 12-point gap between Rangers and Celtic clearly suggests this - and has completely lost sight of the biggest stakeholder group in the club.

“It is the supporters, not the directors, who should be prioritised. Hopefully, the removal of Douglas will allow the board to put supporters first once again. By doing so the board commit to ensuring there will be no repeat of this season.

"Like most supporters and many shareholders, I am demoralised by the continuation of the Douglas Park led board - he was chairman at the time - to look after their personal interests ahead of the club. No sooner had the board rejected a fully-funded offer of new shares at 40p than they issued substantial shares to themselves at 25p.

“This is after previously stating that shares would no longer be issued at the low price of 25p. 25p is the price that prevailed before 55, before the Europa League final, and before the re-emergence to Champions League football. It massively undervalues our club and our recent achievements.

“I recently turned down an unconditional cash offer of 40p from a group other than Kyle Fox’s - so 40p is presently a fair price.

“25p undervalues the price of the shares by almost 40% and I wonder how the board would react if supporters asked for a 40% discount on next seasons ticket prices as an equivalent?"

Rangers were approached for comment on Tuesday evening.

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Squonk

Squonk

Posted
Posted (edited)
On 12/04/2023 at 11:17, Drew Brees said:

From the Herald

DAVE KING has rejected a £25million bid for his major shareholding in Rangers.

“I recently turned down an unconditional cash offer of 40p from a group other than Kyle Fox’s - so 40p is presently a fair price."

Is there anybody on the planet gullible enough to believe the word of such a glib and shameless liar, without the provision of documentary evidence? If he told me today was Wednesday, I'd have to check my calendar, just after I'd checked that my wallet was still in my pocket.

As for his and the Herald's references to shareholdings in the club and undervaluing the club, the shares are in Rangers International Football Club plc, which as we all know is merely the holding company of TRFC and is therefore far removed from the current 'metaphysical football club with no legal personality' that plays out of Ibrox. 

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shizzlemanizzle

shizzlemanizzle

Posted
Posted
2 hours ago, The DA said:

Hadn't spotted this until it came up on FB. 

https://www.footballscotland.co.uk/spfl/scottish-premiership/rangers-issue-3million-new-shares-26727466?fbclid=IwAR27JKABVncRLVzSoBMnOGR5Iu0HDMEJw6tzBxPo_heYyVPwBJYIGdIpWRI

WTF do they do with the money?

Face painting? Either that or the coronation

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Drew Brees

Drew Brees

Posted
Posted
3 hours ago, Jacksgranda said:

We need the Celtic Accounting Team to explain all that to the rest of us.

Explain how to click a link??? It’s all in there, if you’re too thick to understand it then there’s little hope for you. 

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Jacksgranda

Jacksgranda

Posted
Posted
9 minutes ago, Drew Brees said:

Explain how to click a link??? It’s all in there, if you’re too thick to understand it then there’s little hope for you. 

I wouldn't like to see your reaction had Motherwell had the temerity to win on Saturday...

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