Big Rangers Administration/Liquidation Thread - All chat here!

[GirondistNYC]

1338466658[/url]' post='6290479']

i don't think any administrators are trustworthy to be honest. they love running up bills.

i've have believed this entire thing is a stitch up since day one between murray, whyte, and later D&P, ticketus, the blue knights, miller, ng and green. however i also think that they know their way around the law and are doing everything by the book officially. the end game is to pay as little of the tax bill as possible while retaining ibrox, murray park and spl membership. for all P&B has lol'd at them in this thread the final result is most likely to be whyte, haudit and daudit 1 - P&B admin experts - 0.

whether ticketus were fleeced or not is still unclear. it's unbelievable that they would have credit checked craig whyte and rangers and still handed them £24 million cash.

Ticketus thought they had a valid sale of tickets -- a future flow asset securitization. The advantage of this approach is you are insulated from a bankruptcy of the seller as you are deemed to own the ticket revenue stream and are thus not a creditor at all. That means credit checks work slightly differently. The risk for Ticketus was that ticket sales would collapse entirely or a NewCo structure would allow a challenge to the deal. Based on the snippets in the COS decision involving Ticketus they may have had the second angle covered (the language seemed to be tickets to Ibrox, not tickets to Rangers in its current form). These deals are perfectly above board and work (the problem in the US RMBS market wasn't the structure, it was the assets were crap beyond everyone's expectation). They are much, much trickier when future assets are involved however.

The problem for Ticketus is they unforgivably failed to take into account that however characterized tickets to Ibrox are SCOTTISH assets and even though the trust structure they used was governed by English law and (apparently) valid there under Scottish law works differently for future flow assets - or rather, it doesn't work at all. They ae left with a contractual right subject to cancellation and an ordinary claim as creditor. They are screwed, although they may pop up to wreak havoc later with a variety of legal claims. They clearly have determined that nothing is to be gained by engaging in the public kabuki show. Nobody vaguely rational would put themselves in the position they are in as part of some master plan. Someone who knows more than me explained most of this to you last night and even provided a COS link. Was that TLDR for you?

D&P have taken a lot of stick here, some of which seems as a non-accountant on the outside justified, but I really, really don't believe they are part of a "stich-up". They are an international brand, and reputation matters a lot to them. The idea that the firm as a whole, as opposed to one partner, had a relationship with a non-entity like Whyte is risable. The idea they would somehow go through with a plan detrimental to creditors based on an opportunity to run up the bill a wee bit and fond feelings for whichever evil genius people think is behind the master plan is not credible. The reputational hit they' had taken even before Daly started hammering them far, far outweighs any gain. They clearly deployed a high risk stratagey in the expectation decent money bidders would show up. They probably failed to understand how different from an ordinary administration a football club is and overcompensated on the side of football at crucial points early on. But I don't think their senior partners are happy with the situation at all.

The above in no way meant to defend Ticketus or D&P (especially after the crude burying of the post-admin HMRC liabilities in the CVA) but this is a cock-up, not a conspiracy. At most, any conspiracy is limited to some combination of bidders and Whyte.

[Baxter Parp]

it seems you value your privacy as well

You mean it seems i'm not stupid enough to put my name and address on an internet forum. Which has nothing to do with the point at hand. Got any more strawmen you'd like to toss in to the ring?

[forkboy]

Jeez, that's what i do...... You must just charge 'mates rates', eh?

Deffo living up to your name of The Left Wing there, bragging over how much you get paid No self-awareness clearly.

[Happy Buddie]

Tyrone Smith ‏@TyroneSTV#invernesss chairman Kenny Cameron says #rangers taking their transfer ban case to the Court of Session was 'a serious mistake'

......and slowly the sands run down, and what was the greater part becomes the lesser, and what was the lesser part becomes greater, the swinging blade moves closer, ever closer, the victims eyes grow ever wider, fear grows ever stronger, with the dawning realisation that salvation is not at hand, and doom is the only certainty.

a quote, IIRC, from the Pit and The Pendulum by Edgar Allan Poe

[St Sid]

Just sent this wee song to a hardcore scumgers bawbag along with the message that they are now f"k'd. He knows that I know. The feedback was that first the flat screen VDU got thrown at his office wall....then the black leather executive chair got kicked sending it crashing across his office.......then the rest of the desk went up the air......all this was accompanied by the usual sectarian expletives. Not the sort of behaviour you would expect of a senior government official.....This has to be among the finest 24 hours ever lived.

[magee84]

You mean it seems i'm not stupid enough to put my name and address on an internet forum. Which has nothing to do with the point at hand. Got any more strawmen you'd like to toss in to the ring?

[itzdrk]

http://www.youtube.com/watch?v=b7WpT6DqUx8

i think i win the game we were playing earlier with this gem?

dirty wee tarrier club, probably have neil lennons shirt hanging up in the stadium Edited May 31, 2012 by itzdrk

[Herman Hessian]

HARD MODE: Walter Smith

Former "Dundee Hibernians" assistant manager Walter Smith? You're going to have to try harder than that.

1) Walter Smith began his playing career with Dundee United

2) Dundee United are known as The Arabs

3) Arabs, indigenous to the desert regions* of North Africa, are known for the herding and use of Dromedary camels

4) The Dromedary has four "camel toes", which in the internet age, has become a term for a particularly pert female reproductive part

5) particularly pert female reproductive parts are perhaps normally associated with younger females, perhaps unsullied by lawful sexual activity

6) youngsters unsullied by lawful sexual activity - although not exclusively female as befits the all-encompassing auspices of the organisation in question - are a particular predilection for many senior members of the Roman Catholic Church

ergo, Walter Smith is not only a heavy duty tarrier, but quite possibly a Catholic priest too

desert regions* - as distinct from "dessert regions" or large areas of Scotland where jelly and ice cream is a popular dish

[Happy Buddie]

more tv coverage?

Well, yes, yes, ok, the TV coverage. But apart from the TV coverage?

[Colin M]

Two in a row. A sea change?

Taking it to court was a massive political gamble. These chairmen want(ed) to keep Rangers in the SPL. Now they'll be set on fucking them up as best they can. But can they afford to do that without still keeping them in the SPL? And if they do keep them in, will they get the chance for retribution?

Rangers have staked everything on "Scottish Football needs us". These guys won't like being told that (even if they know they're better off agreeing).

[daveybhoy]

whole things a feckin joke now, total farce

sfa, spl, d&p, rfc, have made a right mess of scottish game dragged it through the gutter.

i work in engerlund an we was a joke before to them an it gets worse each passing day.

why the hold up? delay this, pass on that, meet about this maybe next wk or maybe not.

seems now the general football fan on here from berwick to elgin are now of the same opinion on what should happen to the buns

its plain to see for anyone now they need to go and quickly. maybe start again in some form and maybe in 10/15 years be able to challenge for promotion from amateur leagus through to division3.

[thelegendthatis]

Boyce was Cliftonville chairman, if memory serves me right, so is obviously tarrier tainted at the very least.

Boyce will be no friend of Rangers. Just read his words at the bottom of the article.

"Pet hates?

Political bickering, bigotry and sectarianism. I think people should realise that they only have one chance in life. To have seen the destruction, the murders and the people who have lost their lives over many years is something that I condemn outright."

Rangers and their fans have been guilty over the years of all that is highlighted.

Let us hope Boyce as vice-president will explain to the others in FIFA what Rangers have brought to the game and society.

Edited May 31, 2012 by thelegendthatis

[Dirty_Arab]

Mr. Green: 'Ello, I wish to register a complaint.

(The person does not respond.)

Mr Green: 'Ello, Mr Whyte?

Mr Whyte: What do you want ?

Mr. Green: I wish to make a complaint!

Mr Whyte: We're closin' for lunch.

Mr. Green: Never mind that, my lad. I wish to complain about this club what I purchased not two weeks ago from you.

Mr Whyte: Oh yes, the, uh, the Blue one ..What's,uh...What's wrong with it?

Mr. Green: I'll tell you what's wrong with it, my lad. 'E's dead, that's what's wrong with it!

Mr Whyte: No, no, 'e's uh,...he's in administration.

Mr. Green: Look, matey, I know a dead club when I see one, and I'm looking at one right now.

Mr Whyte: No no he's not dead, he's, he's in administration, Remarkable club, the Gers, Beautiful history!

Mr. Green: The history don't matter - It's stone dead.

Mr Whyte: Nononono, no, no! 'admin, just some technical hitches!

Mr. Green: All right then, - sort them! .. I'llget right on it ... you'll seee quick phone call to the SFA and we'll get a meeting sorted ...

(Mr Whyte makes the call)

Mr Whyte: Sorted !

Mr. Green: No, you didn't he told you to f**k OFF !

Mr Whyte: never did!!

Mr. Green: Yes, he did!

Mr Whyte: He never, never did anything...

Mr. Green: (yelling and creaming) 'ELLO Whyte !!!!! Testing! Testing! Testing! Testing! You teying to fucking wind me up !!

(Takes the paper out and shows him the headlines)

Mr. Green: Now that's what I call a dead club ...

Mr Whyte: No, no.....No, 'rumours - they are all biased!

Mr. Green: BIASED!!?

Mr Whyte: Yeah! You know biased, these oily b*****ds never liked me.

Mr. Green: Um...now look...now look, mate, I've definitely 'ad enough of this. That club is definitely deceased, and when I purchased it you gave me the nod it was all sorted with HMRC .

Mr Whyte: Well, they are ,.. mmmh ... ahhh what's the term ... probably looking for a wee payment

Mr. Green: Wee f***** payment ... What kind of talk is that?,

Mr Whyte: HMRC .. we never pay em .. no need ... they do diddly squat .

Mr. Green: Look, I took the liberty of examining those accounts and some of it looks well dodgy ... and I discovered the only reason that it

(pause)

Mr Whyte: Well, o'course it was in trouble , but nothing serious .. nothing that getting rid of the debt will not sort ...

Mr. Green: "DEBT .. what about the SPL and SFA .. you've fucked them right off with that court malarkey ,. It dead you c**t ... uit's bleedin' demised!

Mr Whyte: No no! '.. I jsut spoke to them it's being sorted ... would I lie to you Charlie ... come on ...

Mr. Green: 'It's fucking dead ... I want another one it's met it's maker! 'It;s a stiff! Bereft of life, 'RIP , if you hadn't fucked we'd have gone down in history as the saviours but now ... it's over ,., RFC has kicked the bucket, 'they've shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisibile!! THIS IS AN EX-CLUB!!

(pause)

Mr Whyte: Well, I'd better replace it, then. (makes somes calls) Sorry squire, I've phoned around and uh, we're right out of football clubs ..

Mr. Green: I see. I see, I get the picture.

Mr Whyte: I,ve got a curling team ..

(pause)

Mr. Green: Can they play football ?

Mr Whyte: Nnnnot really.

Mr. Green: WELL IT'S HARDLY A BLOODY REPLACEMENT, IS IT?!!???!!?

Mr Whyte: N-no, I guess not. (gets ashamed, looks at his feet)

Mr. Green: Well.

(pause)

Mr Whyte: (quietly) D'you.... d'you want to come back to my place?

Mr. Green: (looks around) Yeah, all right, sure.

[daveybhoy]

seems that the problem with this is noone wants to be the one pulling the trigger

[alimci]

Tyrone Smith ‏@TyroneSTV #invernesss chairman Kenny Cameron says #rangers taking their transfer ban case to the Court of Session was 'a serious mistake'

Thanks Kenny

Now if you could just agree that expulsion is the best solution...

[MEADOWXI]

@STVRaman: Inverness criticise Rangers' decision to challenge SFA in court: "Taking sporting matters to the Court of Session was a serious mistake."

@STVRaman: "we are as fustrated as SPL colleagues... Rangers having gone to court.. raised threat of FIFA action against Scottish football as a whole"

@STVRaman:So ICT statement indictes that Rangers' decsion to go to court has hacked off all of the rest of the SPl clubs. #courtgate

Good going Rangers when you have hardly any friends left in the wold make sure you piss them off as well.

The club chairmen were the only people remotely offering any get out - and know you can add them to the list of the peoples enemies. Know one likes you ........ are you surprised.

CoS - Best Own Goal Ever

Edited May 31, 2012 by MEADOWXI

[Happy Buddie]

Taking it to court was a massive political gamble. These chairmen want(ed) to keep Rangers in the SPL. Now they'll be set on fucking them up as best they can. But can they afford to do that without still keeping them in the SPL? And if they do keep them in, will they get the chance for retribution?

Rangers have staked everything on "Scottish Football needs us". These guys won't like being told that (even if they know they're better off agreeing).

I was very heartened by my Chairman's attitude ( and very obvious anger) yesterday (Big Up, Mr G.). I just hope he holds that emotion and vents it, when the big vote comes, in a positive manner. Revenge is a dish best served cold.

[HibeeJibee]

At the risk of more negative rep coz I am an OF supporter you are a muppet.

You claim you want fairness and equality but but won't give evolution of population a chance and would prefer this monotonous elitist league stay as it is ?.

You claim to the league should stay as it is ! pyramid form ? WTF !.

Rangers are on their knees and change for the better is around the corner but you'd rather keep shitty clubs in the Scottish league ! why ?.

If better supported junior teams want in LET THEM and have the SPL/SFA pay for stadium upgrades.How much every few years will it cost to have a 6,000 seater stadium built ?.A few million and the clubs would be better for it as well as the game itself here with home grown talent we may have missed or lost.There are better ways to spend money than give it to who ever won the league or came in whatever place.Money spent at the bottom will most certainly be spent better than top clubs buying expensive foreign imports coz the English leagues stole our best for a song.How many home grown players who developed late will be lost in the leagues current form ? do you know ? coz we produce a lot of talent in the English leagues if ya hadn't noticed.

Times change and so do people and so must the system.

Were you drunk when you were writing this...?

Bearing in mind that I'd said on several occasions that I'm strongly FOR a pyramid system.

Last paragraph is barely followable.

[Forever Diamond]

To pass the time until midnight, why don't we see what well known films could be re-made by Hollywood to portray this fiasco.

Starter for ten:

E(B)T

The Green Mile (Govans new housing estate)

[Herman Hessian]

i think the wee bigot kitman is also the "bus driver" , he certainly was in the past anyway

you mean he was in charge of the whole EBT scheme, as devised by the prodigiously empizzled Mr Baxendale-Walker ?

Edited May 31, 2012 by Herman Hessian