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Big Rangers Administration/Liquidation Thread - All chat here!


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Charles green is not popular down Sheffield way

In a message to me on another forum a Sheffield United fan put it this way when asked what he thought of him

"Would be terrible!

Firstly, his football knowledge is appallingly bad. But that aside, as a businessman he's a chancer (and that's been polite). Definitely not what Rangers need."

Another United fan posted

"Charles Green - a pure chancer. Not the man to solve Rangers' problems"

So from one chancer to another.

http://footballgroundguide.ipbhost.com/index.php?showtopic=23738&st=180

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Thoughts?

Actual deal, or another piece of bullshit to keep things ticking over for another couple of days? I'm trying to think of what sort of unexpected complication could "throw a spanner in the works" of this deal.

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Thoughts?

Actual deal, or another piece of bullshit to keep things ticking over for another couple of days? I'm trying to think of what sort of unexpected complication could "throw a spanner in the works" of this deal.

I reckon, if the report is accurate, that he's going to publicly take a look at the books and immediately implement his backup plan, which, of course, was always his plan a. So liquidation's on it's way whether they've bought them or not really.

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Thoughts?

Actual deal, or another piece of bullshit to keep things ticking over for another couple of days? I'm trying to think of what sort of unexpected complication could "throw a spanner in the works" of this deal.

The "source" certainly had plenty to say for themselves.

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I reckon, if the report is accurate, that he's going to publicly take a look at the books and immediately implement his backup plan, which, of course, was always his plan a. So liquidation's on it's way whether they've bought them or not really.

I agree

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Great description of Sheperd from here........

http://www.midfielddynamo.com/owners/notorious_british.htm

A man with the looks of Austin Powers' foe Fat b*****d, but without the charm. Shepherd represents a corporate fat cat mentality that has come with the advent of the Premiership. He is owner caste equivalent of the footballing badge kisser, always ready with a trophy signing, P45 for the gaffer or yet another attention deflecting speech about the `Geordie Nation'. This odious man really showed off his true colours, and sadly much else, when he was the victim of a News of the World sting, where he laughed at the fans that bought overpriced shirts and slated Newcastle women. All this from the comfortable vantage point of a far eastern brothel.

Please, please,please, please let him be buying Rangers. This truly is the gift that keeps on giving.

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Shepherd was caught mocking the club's own supporters for spending extortionate amounts of money on merchandise, calling female supporters “dogs”, and mocking star striker Alan Shearer by calling him the "Mary Poppins of football", all while frequenting a brothel.

If it hadn't been for the Alan Shearer reference, I'd have thought he was already installed at Iprix................. :ph34r:

Shepherd stated that large and successful clubs should not be concerned about those struggling at the lower end of the industry. He also said "When we have got 52,000 fans at each home game, the last thing we are worried about is clubs in the third division," and added, "There is no sympathy here

Christ, he's going to fit right in over there :angry:

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I must admit all the talk about who is bullshitting their bid onto the front page of a Scottish tabloid, whether it is Div 3 or SPL next year, what will our bleedin coefficient be, all leaves me cold.

There are better ways to make this lot pay the price.

The attempted Rangers defence to the SFA panel was mainly about Craig Whyte being a chancer. This failed totally and It was Rangers the legal entity that was deemed to be responsible. Within that you had directors and other employees who did not meet their personal legal obligations.

This opens the door for those individuals to be dragged into court. Fined, banned from being a company director or jailed. But based on the SFA ruling (led by a QC and using legal precedent to support their conclusions) the company itself was deemed to be institutionally corrupt. It has lived illegally, and benefited from those crimes. This panel report was based formally on Whyte's rule, but referred to Murray's behaviour directly and his time in charge.

If found guilty, then its assets can be seized under the proceeds of crime.

For HMRC (who work closely with the fraud squad anyway) this would be an attractive option to take.

I would imagine that people like Martin Bain must be thinking about a plea bargain conversation, "if I spill the beans and tell all can I walk away?"

Edited by thelegendthatis
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I reckon, if the report is accurate, that he's going to publicly take a look at the books and immediately implement his backup plan, which, of course, was always his plan a. So liquidation's on it's way whether they've bought them or not really.

These cvnts are just vultures diving in at the end to try and pick the scraps, but I think the ”mighty gers” will be one rotten carcass so disease ridden that it will hopefully take odious rats like this down with it and we won't have to hear about any of them again

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Green set to buy Rangers- Blue Knights Bottom Lip Trembles Sunday Herald

Green set to move closer to buying Rangers as Blue Knights make last-ditch plea

Stewart Fisher

Sports Writer

ADMINISTRATORS at Rangers were last night poised to grant preferred-bidder status to the consortium fronted by Charles Green, as Brian Kennedy's Blue Knights group made a last-ditch plea for a deal.

inShare

Brian Kennedy has been speaking out.

Brian Kennedy has been speaking out.

Despite publicly appearing to withdraw from the process on Friday afternoon, Kennedy told the Sunday Herald last night he was prepared to keep his offer on the table until Monday but feared administrators Paul Clark and David Whitehouse, of Duff & Phelps, were set to agree a deal worth around £8.5 million with the group led by Green, a former chief executive of Sheffield United, which is backed by a venture capital fund. "Talks are at a very advanced stage," said Whitehouse.

Although the Green consortium has been involved for a number of weeks, there were even suggestions last night that a purchase could be concluded imminently. "Strange as it may seem, I don't know if they are going to do due diligence or if they are just going to buy the club," manager Ally McCoist said last night.

Despite his statement, Kennedy had left the back channels open for an 11th-hour change of heart from the administrators but his phone never rang. "I don't think they are talking to us," he said. "I think they are a bit upset we have gone public with something. If Charles Green is the right man to take it forward, credible, and he is going to save Rangers then we will absolutely get 100% behind him.

"But the administrators and the media need to make sure that this is a credible bidder and is good for the future of Rangers. If they [the administrators] go ahead with Charles Green then all the best. I hope he does complete, but I think he prefers to go down the newco route. If he decides to pull out a week from now it will most certainly be too late for us."

In fact, the parties were further apart than ever last night as the war of words intensified. Kennedy made the bid document that he claims was agreed with Paul Clark eight days ago publicly available. In a press release issued last night the Blue Knights claimed they would pay out a total of £9.1m and that they were prepared to pay "substantially more cash" going forward.

Duff & Phelps claimed it was Kennedy's strategy that was driving the club towards liquidation.

Sticking points appear to be the Blue Knights' inclusion of money to pay £3.8m to football creditors in their up-front £5.5m, and the inclusion of additional monies contingent on qualification for the latter stages of European competition. A further bid remains on the table from Singapore businessman Bill Ng while another unnamed consortium is thought to be monitoring the situation. "At the moment we have four bids and they are fourth of four," said Whitehouse. "The Blue Knights have been told time and time again that the bid is too low. They have adopted a strategy to try and bulldoze the process and railroad us through to submission. Frankly, even if they were able to railroad us, which they won't, I don't believe that their offer is one the creditors will accept. And we speak to HMRC on a daily basis.

"HMRC have made it very clear they don't believe in the football creditor rule so it would be contrary to stated policy to accept what the Blue Knights are proposing," he added. "Brian Kennedy and his lawyers and advisers are aware of that. Their offer is just not enough and to come out and say you've offered £11m is disingenuous to the fans. To state categorically that their bid has a value to creditors of £2m-£2.5m and it's too low, and to say it is £11m is misleading.

"Brian Kennedy is adamant he'll come back in. He's sure his tactics will remove everybody from the frame but my concern is that if his tactics were to achieve that, they could bring about the true liquidation of the club. It's very hard to see how HMRC could be persuaded to accept a bid of that ilk when there's an asset base that includes Ibrox and Murray Park. I think he's pursuing a very dangerous strategy. If he thinks he can railroad the process and persuade HMRC to take his level of offer, it's dangerous. He wants to get involved in a head-to-head with us, but that's not helpful to the process. We want to get on with proper bidders and get a deal done, we don't want to be distracted by a sideshow. He has to buy the club with cash, not with media influence. If he wants to buy the club then make an offer that is comparable to other people. The Knights have had nearly 12 weeks to do that."

MEANWHILE, the three leading Rangers fan organisations last night asked for an immediate meeting with Duff & Phelps to discuss their concerns over a prospective new owner. "In view of the recent history of the club and the purchase process all Rangers fans are highly nervous about the identity of potential owners and that they have the ability to deliver promises made in bidding for the club," said a statement, co-authored by the spokesmen for the Rangers Supporters Assembly, Association and Trust. "Fans are the major investors in Rangers and deserve clarity on potential owners and the plans they have for the club ahead of completion of a deal."

These jokers are bidding £8.5 million without doing anything like the necessary due diligence. Even Ally McCoist is sceptical! :lol:

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Day 90 of administration

Is this not the point when the protection from creditors taking legal action expires. Maybe this is why ticketus have came out and said that they're ready to go after whyte and the **** plc to get their money back.

There doesn't seem to be any end of this in sight any time soon.

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Is this not the point when the protection from creditors taking legal action expires. Maybe this is why ticketus have came out and said that they're ready to go after whyte and the **** plc to get their money back.

There doesn't seem to be any end of this in sight any time soon.

I thought I read somewhere that the 90 day rule doesn't apply because they went into Administration voluntarily. Wonder if anyone can shed any light?

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I thought I read somewhere that the 90 day rule doesn't apply because they went into Administration voluntarily. Wonder if anyone can shed any light?

But they didn't go in voluntarily, craig whyte set a date to go into administration and hmrc called his bluff and forced them into it the very next day.

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But they didn't go in voluntarily, craig whyte set a date to go into administration and hmrc called his bluff and forced them into it the very next day.

See, that wasn't my understanding.............HMRC were posturing, so Craigie-boy pre-empted them (voluntarily). Hence why he got to select H&D rather than an appointed Administrator.

Are you sure?

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@BBCLiamMcLeod: Green also plans to attend #Rangers' final match of the season today at #StJohnstone

LOL - Green allegedly going to McDairmid today...........fingers crossed the FF/RST nutters have new banners made to put him off buying :D

A nice "Green and Whyte shytes" one might do the trick!

Edited by Claymores
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