Big Rangers Administration/Liquidation Thread - All chat here!

[GunnerBairn]

Yes. Newco aren't members of those organisations but oldco still are. Membership and shares can't be transferred without consent of the relevant authorities.

Interesting. Which means the SPL 'newco vote' must command a 6-5 majority in order for them to succeed and not 7-5 like before?

[HibeeJibee]

Why don't all 30 SFL clubs stick in an application. to join the SPL at the same time as Gers newco. After all it would be unjust on them and their fans!!!

This Gers don't get a vote as are not yet members of the SFA/SPL/SFL. They are seeking to join.

They aren't, not really.

Even if Newco Buns are admitted in to the SFL, I would fully expect (and hope) that there would be legal action taken against them by the likes of Spartans, Cove and Gala but to name three. There's an orderly queue which has formed for which Newco Buns are the back. Wait your turn like everyone else has!

Only way Rangers can endup entering SFL3 is via a ballot for a vacancy i.e. transfer-of-share is rejected by SPL, everyone moves up 1, vacancy appears. An moral orderly queue has no legal standing.

[mike rankine]

Just in from work and haven't had a chance to catch up on the past 20-30 pages, so this may have been covered:

1) Typical of Walter Smith and his consortium to let someone else do the dirty work (i.e. administration / liquidation) and then ride in after the event as heroes, ready to pick up a debt free club for a song. Where were these charlatans over the past 4 months when bids were being sought?

2) With Walter Smith's involvement we can guarantee added pressure to vote the newco straight back into the SPL. I hope the various chairmen remember that Walter Smith benefited hugely from the illegal use of EBTs to win countless trophies against said SPL clubs.

3) I've encountered Jim McColl through my line of work. He's a very smart, ruthless guy but his ego/PR is precious to him. He'll love been seen as a white knight here but he will be happy to make a quick buck and disappear again (just like he did when he bought Weir Pumps for "emotional reasons" and sold it on very quickly at a healthy profit).

Here's hoping either Charles Green refuses to sell and f@cks the club up big style OR there really are some "nuclear" revelations still to emerge which will finish the blue bigots off irrespective of Smith's involvement.

[rustyarabnuts]

So who represents the holders of the current share then at the meeting? Duff and Phelps?

im sure i read somewhere that that is the case

[HibeeJibee]

Interesting.

Presumably the OldCo can vote, though?

[Jim McLean's Ghost]

1339705226[/url]' post='6336907']

So who represents the holders of the current share then at the meeting? Duff and Phelps?

They can appoint Chuckie Green as a proxy if they want for the SPL meeting. SFA is aboard meeting, don't know if they have to send a rep.

[cyderspaceman]

I was lurking on a the rangers forum where I saw a post from someone who

outed himself by accusing the the rangers fans of being vile, violent bigots who

overused the word paedo. He also claimed to be non-catholic.

He got four pages of replies calling him a bead rattling ***** tarrier paedo

with a couple of veiled threats thrown in.

Oh, the irony.

[EdinburghPar1975]

Unreal that i'm already reading about Smith & co just wanting Green to hand over the keys now the dirty work is done. The fact that theyre already pressuring him to do this shows them for what they are.

[GunnerBairn]

Presumably the OldCo can vote, though?

I was thinking the same that it would probably be the Oldco that votes since H&D still appear to be running things to a degree. What's confusing me is that I thought Oldco had already died and therefore could not vote.

[joe pineapples]

Presumably the OldCo can vote, though?

Yes, but administrators or liquidators?

[blanco]

I was under the assumption that the liquidators were now in control of winding up the club after the insulting CVA failed are they not ?.

And I may point out that Nuff n Helps involvement with administrating rangers ended when the liquidators were appointed is it not ?.

So why did they sell the assets then and now ? especially seeing as there is no agreement of the purchase to Green from the liquidators that I can find.

My point being that surely this transaction is in some way in breech of some law somewhere somehow as there are better bids being tabled ?.

The liquidation process is to acquire as much cash from the death of the club as possible for the creditors and I can see the HMRC actually revoking Greens purchase of the assets at some point if bids of over £10 million start to appear !.

Rangers have been in admin for 4 months and the only person to have made a concrete bid was CG, so i think that's good enough reason for the sale.

Edited June 14, 2012 by blanco

[da_no_1]

Just in from work and haven't had a chance to catch up on the past 20-30 pages, so this may have been covered:

1) Typical of Walter Smith and his consortium to let someone else do the dirty work (i.e. administration / liquidation) and then ride in after the event as heroes, ready to pick up a debt free club for a song. Where were these charlatans over the past 4 months when bids were being sought?

2) With Walter Smith's involvement we can guarantee added pressure to vote the newco straight back into the SPL. I hope the various chairmen remember that Walter Smith benefited hugely from the illegal use of EBTs to win countless trophies against said SPL clubs.

3) I've encountered Jim McColl through my line of work. He's a very smart, ruthless guy but his ego/PR is precious to him. He'll love been seen as a white knight here but he will be happy to make a quick buck and disappear again (just like he did when he bought Weir Pumps for "emotional reasons" and sold it on very quickly at a healthy profit).

Here's hoping either Charles Green refuses to sell and f@cks the club up big style OR there really are some "nuclear" revelations still to emerge which will finish the blue bigots off irrespective of Smith's involvement.

I wish more people in the relevant positions of power had this much sense.....

[itzdrk]

http://www.telegraph.co.uk/sport/football/teams/rangers/9173863/Rangers-in-administration-Walter-Smith-gives-backing-to-Paul-Murray-and-Blue-Knights.html

However, he ruled out a return as director of football. “I couldn’t sit in judgment on another manager, especially the one who is here just now,” he said.

looks like if ally stays on for walter to be a man of his word he canny sack him no matter what

[HibeeJibee]

I was thinking the same that it would probably be the Oldco that votes since H&D still appear to be running things to a degree. What's confusing me is that I thought Oldco had already died and therefore could not vote.

OldCo... The Rangers FC plc... will not "die" (as in complete liquidation > cease to exist) for some time yet.

If you need SPL approval before transferring the share, i.e. you don't transfer it then say "was this OK?", then presumably it's still with The Rangers FC plc

Edited June 14, 2012 by HibeeJibee

[Fife Saint]

I don't understand why people are asking where Wattie and co. were before now. It's fairly simple, there isn't a 100 million quid monkey on the back and they lacked the balls of Green.

I've got a grudging respect for Green, he could have paid 5 million for a dead donkey but has the Rangers-minded eating their own cocks in a frenzy.

All being well, Wattie and his mob buy the newcompany and they get promptly expelled.

[Monkmyster]

Unreal that i'm already reading about Smith & co just wanting Green to hand over the keys now the dirty work is done. The fact that theyre already pressuring him to do this shows them for what they are.

Exactly mate. And then they will bully all the other SPL clubs to let them in. Bigot Bullies. This whole scenario has been an utter farce since all the shit came out. Isn't it obvious that this whole thing has been planned from when Whyte took over? Let them rot with no league to join. Scumbags.

[Jim McLean's Ghost]

1339705756[/url]' post='6336952']

I was thinking the same that it would probably be the Oldco that votes since H&D still appear to be running things to a degree. What's confusing me is that I thought Oldco had already died and therefore could not vote.

Oldco haven't died yet. They are in the same legal position as they were yesterday. In administration. The only difference is that they have sold their stadium, training ground and car park. The only assets they have left are SFA membership and SPL share and those are non-sellable and non-transferable without consent.

[~~~]

There wouldn't be. The wee Rangers would be voted in just like Annan were.

Fixed that for you

[FinnesTON]

Just been reading this blog posted in the last hour: the writer explains why Scottish football will lose one or both of the Old Firm in the near future. He writes it as though this would be a bad thing!

However, I've never seen the Rangers/Portsmouth angle mentioned before, and the blog is at least interesting.

See Here

Quote from the article: "The SPL is therefore stuck in a bizarre situation where it, more or less, has to let the NewCo into the SPL. And why?"

UEFA and FIFA would not allow that scenario, the police would object , a total non starter IMHO

[HibeeJibee]

Oldco haven't died yet. They are in the same legal position as they were yesterday. In administration. The only difference is that they have sold their stadium, training ground and car park. The only assets they have left are SFA membership and SPL share and those are non-sellable and non-transferable without consent.

Just a wee tangent for interest purposes... do D&P have to detail publically what they'd sold? Have they sold literally everything The Rangers FC plc owns bar the bold, or do some bits-n-bobs remain?