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Big Rangers Administration/Liquidation Thread - All chat here!


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A number of consequences of liquidation:

1) All players are effectively free agents. You cannot be forced to transfer to Newco

2) I cannot see why the liquidator will be bound by a deal concluded by the administrators five minutes before the liquidator is appointed. It may be though that BDO have had a look at the deal and will let it stand but then again, why would they when all the money is to pay Duff and Phelps?

3) S216 of the Insolvency Act says that Newco cannot have a name so similar as to suggest a relationship with the old company without the leave of the court. In practical terms, the liquidator may be prepared to sell the name or alternatively, it might be in the deal already done. One way or another, the leave of the court will be required

There is also grave doubt about Greens ability to fund Newco and I would expect that the football authorities will require similar guarantees from Newco about being able to fulfil their fixtures as they wanted from Livingston and Gretna. Like those two clubs they are unlikely to get them and so Rangers should suffer the same fate - relegation to the third division.

Its all good news probably for Dundee but maybe Dunfermline plus I would have thought that the losing play off finalist from the lower leagues will now step up.

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From BBC : Another huge issue is the role of majority shareholder Craig Whyte. The value of Rangers shares no longer really matters when a club is being liquidated but what DOES matter is the matter of the floating charge.

The Swhytester might make a few ££ out of this to pay for his lawyer when HMRC come knocking

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Not sure the celebrations are justified, i've still got a horrible feeling they're getting out of this relatively unscathed with history intact. The speak from HMRC is very disappointing, and i'm at a loss to understand how transferring the assets to the Newco for £5.5 million is even remotely above board, much sadness :angry:

Please, someone tell me otherwise!

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Just been asking myself the same question.

I think they are officially "Rangers Football Club"

Can they just alter to say "Glasgow Rangers Football Club", or do they have to distance themselves further from the old brand?

I believe the only exception to complete rebranding is if there is a geographical connection, hence Middlesborough, Leeds and Charlton kept their basic nomenclature. Wouldn't seem to apply to this lot.....

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I have a question actually, now the CVA was going to be funded with what was effectively a loan, but surely they can't buy £5.5 million pounds worth of stadium and training centre with a loan? Do they not actually have to produce hard cash for this?

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But the player registrations will have been sold to the newco before the oldco is liquidated.

Don't think they will have been sold, simply transferred, but the players can refuse the transfer if they wish. They will be free agents.

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1339511099[/url]' post='6327238']

the ones that have been most recently resurfaced?

Yes, I know, sorry etc.

That's terrible, etc. For shame Sir, etc.

But now that you mention it Ibrox is currently available cheap, has planning restrictions and environmental issues but has loads of parking.

It would make an excellent replacement for Dale Farm.... Green may yet be gazzumped.

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