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Big Rangers Administration/Liquidation Thread - All chat here!


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what side letters?

confirmation that you have/will have an employee benefit trust is not the same as a contract to pay specified amounts.

I think the letter that said Ronald (Watteraus) will get 510 000 through EBT - and then stated that Rangers would only pay that to him through the EBT might be considered evidence of a second contract and a

specified amount.

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there were indications of "side letters" disclosed - specifically Watteraus and papac mentioned.

they had proof of rangers saying the players would have ebt's not that payments would definitely made into the ebts.

before the program daly gave the impression had he had a smoking gun. it was a let down.

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can someone summarise what happened? have to watch it on iplayer :(

There wasn't really much materially new, but it was still illuminating

Effectively the 2 major aspects were:

[1] an impression of the scale of EBT use... which is relevant if Rangers lose the big tax case, in terms of the "spent money they never should've" football argument... and the repetition of the allegation that documents relating to EBTs may have amounted to 2nd contracts which weren't suitably declared to SFA

[2] a much clearer illustration of the alleged conflict-of-interest between Duff & Phelps <> Whyte; this has been known and insinuated since day 1 but it got laid-out in a fairly obvious fashion. Of course D&P defend themselves, IIRC, on the basis of MRC being taken-over and their acting in a fair manner ("it looks bad but we're not bad" sort of idea)

There were also 2 interesting minor aspects. Firstly a partial rebuttal of the claim David Murray was dupted. And secondly, a bizarre and slightly muted claim alluding to Souness getting £30k as some kind of bung for signing Tugay.

Oddly enough, no mention was made about outstanding PAYE and NI!!

So it didn't reveal much explosive, but it provided more clarity and is an excellent 1hr synopsis.

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I didn't say best, I said biggest. In terms of history, honours, support, and public impact, Rangers are firmly within the top 100 in the world. This isn't controversial in the least.

Their history and honours, apart from the CWC, were won in a small pond. Outside of the Scottish press, Rangers don't rate much coverage.

I know what you mean but, like Father Ted says, I think we suffer from Rangers being very near, not necessarily very big.

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Can someone explain to me the role of Dumb and Dumber in this turn of events?

It was known, prior to today, that some of H&D's operatives were involved in the takeover of Rangers. They made reference to this fact but it was implied that it was a side role and nothing nearly major enough to create a conflict of interest. So, against the grumbling of HMRC, they were duly appointed administrators of Rangers, to the delight of Craig Whyte.

Fast forward and it appears that one of H&D's guys, David Grieg, was in fact involved in the takeover to the extent that he knew about the Ticketus deal. How much he knew is now what's being debated. Grieg stated he didn't know about Ticketus until August; BBC guy showed that he was actually at a meeting with Whyte and Withey before the takeover even took place, in which the item on the agenda was... Ticketus.

I didn't catch in full Grieg's response to that, but the other guy responded to the effect that knowing that Ticketus were involved, and knowing where their money was coming from (i.e. a guarantee against ST sales), are two extremely different things. To which I'd reply: if you're involved in the takeover of a major company, would you not maybe fucking ask where the money's coming from, lest you be presented with a little bag of magic beans, or a hastily-scrawled IOU? Either they were in on it or they were laughably negligent. Neither exactly speaks well to their continuing as 'administrators' (inasmuch as they even deserve that title, given the sum total of their achievements so far.)

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As a Rangers fan, this raises more questions than it does answers.

There certainly weren't many answers........

What questions did it raise with you that you hadn't wondered about before?

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When he was pacing about with his phone the only person on the end of the line would have been the operator saying "Sorry, please hang up and try again."

Loved the camera panning on to the empty chairs. A trick that hasn't been done since Marcos did the same thing to The Beatles when they bailed out of the Philippines.

Another thing about Murray that hasn't really been touched on up until now, I don't think. Not only were Rangers in the shit for the last few years, his stainless steel became the most expensive on the market. I know my company used to spend in the region of £50K with his company, but more worryingly for him, I believe he also lost Alexanders coachbuilders as a client. This steel magnate persona the media have been putting around is a bit misleading, like Rangers, his other companies were out of touch with their market place.

One other thing, once H & D are removed from the equation will the new administrators be able to beat their high score at Angry Birds? Seriously though, how long will the process of replacing therm take?

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Their history and honours, apart from the CWC, were won in a small pond. Outside of the Scottish press, Rangers don't rate much coverage.

I know what you mean but, like Father Ted says, I think we suffer from Rangers being very near, not necessarily very big.

Outside the local press no small European country's club rates coverage. You never, ever read about Benfica and Porto and Ajax in Scotland unless they win a tournament or play against a Scottish team. It doesn't mean Benfica aren't comfortably one of the 50 biggest clubs in the world.

Edited by Swampy
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good i'll watch it on the iplayer later if it is up. cheers man

I've got it on hard disk, backed up to PC and burned to CD transferring to Betamax and VHS, Blu Ray and DVD just in case.....wonder how many women will be wearing sunglasses down Govan way tomorrow morning.....ohmy.gif

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