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Big Rangers Administration/Liquidation Thread - All chat here!


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I think what today - and indeed this whole saga - needs is somebody of rank at one of the governing bodies involved to make a vague statement. We demand more vague statements to muddy the waters a bit more and get us no further than we were a week ago.

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Why do you sign off with your name? We can see who wrote it, your name is above your comment, don't worry.

Kildog

It's a habit I picked up in pen and paper times.

But I appreciate your concern, thank you.

Borys

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So I see Chick is insisting that it's the SPL Board that decide the future of Rangers 1690 & not the clubs.

Which runs contrary to what people on here are saying.

So it seems a safe bet that it'll be the 11 clubs that decide their fate then...

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It's a habit I picked up in pen and paper times.

But I appreciate your concern, thank you.

Borys

I for one applaud your desire to return to formality. I look forward to all Pie and Bovril users following suit.

Yours sincerely

Mr Campbell. MICE, MIHT, BEng.

wink.gif

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Should have read this before posting stupid questions - apologies...

In a moratorium no one can "knock the company over" without the leave of the Court. When the Court has effectively ratified the administrator's appointment this is unlikely! The Court will want to have as much information as possible to ensure that the application for Administration is correct and appropriate.

Administration sale

The company can enter administration to be sold. A typical scenario would be

  • Company isunder severe pressure, creditors circling, possibility of legal action.
  • Directors decided to take advice from KSA or a similar firm. A decision is taken to protect the business and to stop legal actions. The company is insolvent but there is a viable business.
  • The company meets with KSA advisors, they draw up a report on the options available looking at CVA, Administrative Receivership, Administration, trade sale etc. The board believes that a sale could be achieved but the company needs to be protected.
  • An administrator is appointed and he / she will then run the business for a period of say 1-2 weeks.
  • In that time he markets the business under insolvency guidelines called Statement of Insolvency Practice 13, he must be seen to market the business for sale.
  • He will obtain valuations from a professional valuer for all of the assets, goodwill and so on.
  • In an agreed period the directors of "oldco" can buy the business provided the valuations are met and the administrator gets the best deal for the creditors.
  • "Newco" has no debt, no creditor pressure, it can take on leases for example.
  • General guidiline is that TUPE applies and therefore all employees rights move across to Newco.
  • The oldco is then liquidated

Och nooooo....

OMG. With all those hundreds of millions of gers fans out there you have just added at least £100M to the cost of buying them!

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Chic Young sounds on the verge of tears......currently pleading for someone with money to save the club !! laugh.gif

St Mirren fan my arse ! ph34r.gif

Of course he's a St Mirren fan - we'll lose four points if Rangers go bust :P

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Doyou know how when people on P&B include the phrase "according to mysource" they just mean either a bloke in the pub or the BBC rumourspage? Well that entire article is a big version of that. You or Icould name the players based entirely on the last week's mindlessspeculation on Rangers Forum/Twitter.

Injured players; Stevens Naismith and Whittaker.

£1m clause; Steven Davis

Play for nothing/walk away and retire; Lee McCulloch and David Healy.

No source was contacted nor lost in the making of this entirely speculative, and no doubt entirely made up, post.

I apply the se non e vero e ben trovato to most things I come across on web forums.

And thank you for identifying the players.

Borys

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SFA have tweeted about a notice of compliant.

The following Notice of Complaint has been issued by the Compliance Officer:

 

Match: Rangers v Dundee United - 5th February 2012

 

Disciplinary Rule(s) allegedly breached:

 

(1) Disciplinary Rule 325 (By failing to pay Dundee United FC, on the day of the above match, monies due under Rule 46©(3) and (e) of the Scottish FA's Competition Rules; being Dundee United FC's share of receipts for the above match.)

 

and

 

(2) Disciplinary Rule 325 (By failing to pay the Scottish FA, within three days of the above match, monies due under Rule 46©(1) of the Scottish FA's Cup Competition Rules; being the Scottish FA's levy on admission charges for the above match.)

Principal Hearing Date: Thursday, 29th March 2012

More Popcorn!!

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BBC Sportsound:

Funny how Jim Traynor now says if unimaginable for Rangers not to be in the SPL but was championing them for the EPL not so long ago ! unsure.gif

Don't bite the hand that feeds you eh Jim ?! mad.gif

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Of course he's a St Mirren fan - we'll lose four points if Rangers go bust :P

so would we ! f**k the 4 points.......I'd accept relegation to the 1st Division to get shot of them !!!

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So I see Chick is insisting that it's the SPL Board that decide the future of Rangers 1690 & not the clubs.

Which runs contrary to what people on here are saying.

So it seems a safe bet that it'll be the 11 clubs that decide their fate then...

No, it's the board of the SPL that will.

The current SPL Board is made up of Ralph Topping (SPL Chairman), Neil Doncaster (SPL Chief Executive), Eric Riley (Celtic FC), Stephen Thompson (Dundee United FC), Derek Weir (Motherwell FC) and Steven Brown (St Johnstone FC).

A simple majority will put any Phoenix club right back into to the SPL. :thumbsdown

Tally the votes & do the Maths. <_<

Edited by kiddy
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