Big Rangers Administration/Liquidation Thread - All chat here!

[GirondistNYC]

1338327056[/url]' post='6285457']

Could it be that the Taxman is playing smart.

What if they agree to the CVA without the BTC being decided. 12 July Rangers come out of Admin, 13th July BTC decided and they are totally fucked

No. The CVA explicitly includes the BTC as a contingent liability, which is why the amounts payable can't be calculated now. The proposal contemplates flaying the final settlement until the BTC is resolved. If the CVA goes through (I.e. HMRC agrees) the BTC is gone. The issue of second contracts and punishment for same would remain, however.

[7-2]

I appreciate this is going to be lost in a sea of seethe and gloat and as I'm hitting the sack soon ill most probably never see any response, but roughly what did.these tweets regarding fifas opinion that have been.alluded to say

They were asking which part of England Scotland's in...is it Wales?

[ankles]

On the basis that your club managed to dig your way out - avoiding all debts, avoiding all punishment - and are now stronger than ever - I guess that Rangers can as well.

If Scottish football had ever been serious about getting rid of the cheats they should have started with your club first!

Boo hoo Dry yer eyes Tiny Tears . As part of the establishment ,we do what we want. Get over it ? Is this all because you finished below us again ?

[Sergeant Wilson]

If someone done you over for a few grand then offered you between 2 & 9p in the pound, but they would survive. Or you could get nothing and bump them off what would you do?

[p&b is a disgrace]

I REPEAT - PLAYERS ARE NOT ASSETS IN A LIQUIDATION - their contracts are terminated and they walk for zero, zilch, nada, nothing. The only assets worth mentioning are Murray Park (guesstimated as £4-6mill for use as a sporting centre of some kind) and Ibrox - assessed to have an effective market value of zero with no sitting team to occupy it + costs of conversion of the land being almost prohibitive.

No need to shout YA KNOB. FFS I'm reading and posting as fast as I can for an auld cnut. You're shouting at me and reposting the same comment - before I'd even read your commen the first time you posted it! Jeezo!

Anyway, if those valuations are accurate it looks like they've been fiddling their accounts and have actually been trading while insolvent for years!

[dave.j]

Now news night scotland

[GunnerBairn]

No Scottish Cup for any number of years.

No please no, you kill me man you kill me

[Paquis]

Based on what happened to Motherwell, a just punishment would possibly be to let Rangers off scot free with no punishment, allow them to avoid their debts and to allow them to start signing players from their rivals?

I think the punishment was far too severe. A couple of smaller fines would, perhaps, have been the right measure.

Essentially, Rangers are paying for the failure of the SFA to do their job as regulator properly. The SFA intone that the directors 'must have known what was going on'. Well they did. John Greig, John McClelland and Donald McIntyre all resigned from the Rangers board in October of 2011 citing that the had been excluded from corporate governance by CW. Now, when your FD resigns then, to most regulators, that is a red flag.

So what did the SFA do? Yep, you got it, SFA.

Having failed, somebody had to pay. Yep, that somebody was Rangers.

So why did Rangers get punished and not Motherwell. Both were in Administration and both had failed to pay the taxman amongst others. The only answer you ever get to that question is the amount owed. But rules are generally based on principles and are not quantitative.

[Caff]

1338329023[/url]' post='6285647']

Whats a WUM? Whatever it is I agree with your sentiments.

A Wind Up Merchant.

[madwullie]

Rangers got punished and not motherwell because there were no rules when it happened to motherwell. I thought that was common knowledge m8

[Tonsilitis]

Don't look like it the way H&D have arranged the finances and Green already has a deal for the assets anyway:

Estimated Funds Available for Unsecured Creditors through CVA £4,967,284

Estimated Funds Available for Unsecured Creditors through Newco £953,284

Estimated Funds Available for Unsecured Creditors through liquidation £Nil

The funds for a liquidation only hold water if you believe £4.5m is really all Ibrox and Murray Park are worth!

[Sergeant Wilson]

If BTC is lost CVA offer would be nil......that's what I call an offer!

[GunnerBairn]

A Wind Up Merchant.

Sensible is the dregs of a sheep.

[thisGRAEME]

Essentially, Rangers are paying for the failure of the SFA to do their job as regulator properly.

No, that's not what they're being punished for.

[flyingrodent]

I think the punishment was far too severe. A couple of smaller fines would, perhaps, have been the right measure.

Essentially, Rangers are paying for the failure of the SFA to do their job as regulator properly. The SFA intone that the directors 'must have known what was going on'. Well they did. John Greig, John McClelland and Donald McIntyre all resigned from the Rangers board in October of 2011 citing that the had been excluded from corporate governance by CW. Now, when your FD resigns then, to most regulators, that is a red flag.

So what did the SFA do? Yep, you got it, SFA.

Having failed, somebody had to pay. Yep, that somebody was Rangers.

So why did Rangers get punished and not Motherwell. Both were in Administration and both had failed to pay the taxman amongst others. The only answer you ever get to that question is the amount owed. But rules are generally based on principles and are not quantitative.

Similarly, if you stick your boaby into a blender, it's the Health and Safety Executive's fault for not plastering stickers marked "Not for genital use" on household appliances.

[ebeneezer]

Duff & Phelps helping themselves to more than half the funds in the CVA pot....surely they are taking the piss?

If I was a creditor, no way would I accept a paltry 9p in the pound (and apparently that's a best-case scenario).

I'd rather put the club under.

[stuart.]

Here's a scenario the CVA goes through HMRC gets its 9p in the pound on its £50 odd million Rangers come out of admin on the 12th, on the 13th HMRC drop the £74 million one on their door wind the place up are the only creditors sell the assets and in total walk away with a lot more than the 4p in the pound they would get on a CVA against the whole debt. Taxman gets maximum for revenue, ramgers fail to exist and everyone is happy.

Yeah, this is the way I see it playing out and I am amazed more isn't being made of this scenario. Even an utter peen like me can see this is the best way for HMRC to approach the issue and it seems obvious that this is what they are doing, does it not?

[GunnerBairn]

Similarly, if you stick your boaby into a blender, it's the Health and Safety Executive's fault for not plastering stickers marked "Not for genital use" on household appliances.

Well done rodent. You get a greenie.

[~~~]

Anyone think the SFA will appeal this decision today?

[Kyle]

I think the punishment was far too severe. A couple of smaller fines would, perhaps, have been the right measure.

Essentially, Rangers are paying for the failure of the SFA to do their job as regulator properly. The SFA intone that the directors 'must have known what was going on'. Well they did. John Greig, John McClelland and Donald McIntyre all resigned from the Rangers board in October of 2011 citing that the had been excluded from corporate governance by CW. Now, when your FD resigns then, to most regulators, that is a red flag.

So what did the SFA do? Yep, you got it, SFA.

Having failed, somebody had to pay. Yep, that somebody was Rangers.

So why did Rangers get punished and not Motherwell. Both were in Administration and both had failed to pay the taxman amongst others. The only answer you ever get to that question is the amount owed. But rules are generally based on principles and are not quantitative.

If the dual-contracts investigation goes against Rangers, what do you think a fair punishment would be for that?

I know it's innocent until proven guilty and I know the investigation is still outstanding (to the point where all the documents haven't even been handed over to the SFA), I'm just interested in your view.