Big Rangers Administration/Liquidation Thread - All chat here!

[pozbaird]

He's just pissed that Oscar Pistorius was shit yesterday.

[Itwiznaeme]

You couldn't write it! We're being lectured by Scottish football's foremost financial failure!

Indeed -

In January 2000, Murray International Holdings had debts of £52.7million.

In January 2008 the debts had increased to £773.4million.

Net income from MIH has averaged 2.3% of sales between 2000 and 2008.

This was during what has been called the 'boom' period which had been the most profitable time for many businesses for many years.

- http://x-economics.b...s-and-lost.html

Murray's £150million bankers bailout: http://www.thescotti...rs-bailout.html

"The bank more than doubled its stake in Murray’s group to stop it going BUST after a debt-fuelled buying spree was followed by the credit crunch and recession."

Sir David Murray to sell core business as debts take toll: http://www.scotsman....-toll-1-2221170

"One commentator said of the Murray metals business that “it has been knackered for years”, adding: “What’s it worth and who would want it?”"

Rangers in crisis: SFA dossier reveals how David Murray was aware of Craig Whyte's record -

David Murray sacrificed Rangers to save his business empire after bankers held a £700million gun to his head, it was revealed yesterday: http://www.dailyreco...-reveals-877727

"The sale of Rangers to Whyte wiped £18million off Murray International Holdings Ltd’s debt to Lloyds – only around 2.5 per cent of their total £700million debt mountain."

Not all of the supporters of the club he bankrupted are fools: http://forum.rangers...howtopic=209572

Posted 02 February 2012 - 01:52 PM

David Murray....Never had any money,he Ran Rangers On borrowed Money like all his other companies. Currently 150- 200 mil in Debt. Gets rid of Rangers because it brings in no income as it is to far in debt...so is a liability...Get rid of... Risky strategy in running a business on large scale debt but can be managed, but all plans fell to bits when you dont factor in a major crash like we had in 2008. This is why a lot of UK companies are going to the wall...To Much Debt !

Craig Whyte.... Similar to David Murray he does not have a lot of of money but probably good with numbers,Craig whyte is balancing the books at Rangers,stripping back the outgoings of the business and trying to put us on a good financial footing in the hope of Making Rangers FC a viable proposition for a new buyer. (providing that we win the Tax case,that is his calculated gamble)

Rangers FC.... If we win the tax case Rangers will be sold on for profit (Craig Whyte's plan). If we lose the tax case we will go into administration as we will be unable to pay off the debt owed unless a payment plan can be arranged with the tax man, which can happen from my experience.If we get a Tax repayment plan we stay alive and are sold on with the the payment plan to the tax man in place. Craig whyte could still make a profit but not as much as winning the tax case.

No payment plan we are sunk without a trace and no one makes hee ho we would need to restart all over again, but im pretty sure this will not happen 99% positive on it,providing the rest of Rangers FC debts are brought down...

So F8ck David Murray and lets support Whyte on getting us in better shape.....Dont moan that he is doing this for profit,at least we will be in better shape for it.

What do you guys think ? hope it makes sense.

Edited August 6, 2012 by Itwiznaeme

[WeeHectorPar]

Where did they get those valuations from?

Did you also notice that Rangers are top of the league before a single game has been played?

[cyderspaceman]

It really is breathtaking.

The only reason they ended up with a shyster like Whyte was because he, Murray, decided to sell to him. The only reason he felt he had to, was because of his own suicidal ego-driven running of the club over many years.

Does he really think we're too stupid to see that?

An arrogant shit of a man who's turned out to be much less clever than he'd always thought.

What has he been doing these last few months?

Shredding, erasing, eradicating, re-writing, bribing, calling in favours, covering up?

Legs of tin, suit of Teflon.

[Monkey Tennis]

5. The trustees could and did make loans to individuals carrying interest with scheduled repayment dates.

This is my favourite Dave. When are these scheduled repayment dates? Because as far as I am aware, not a single penny has ever been repaid.

This also my favourite bit. What is he saying here, seriously?

Is he trying to suggest that all these players have been reneging on payments and getting letters in red ink through the post for years, wondering why they've fallen behind in their loan repayments? Are these guys needing to give Ocean Finance a ring?

It's more of what we keep seeing in this whole saga. If you're vain and arrogant enough and sufficiently used to being fawned over, you really do seem to think you have the right to say black is white and people will accept it.

I also enjoyed the stuff about SPL chairmen not being motivated by sporting integirity OR the concerns of their own clubs' fans. What does that leave?

Years of talking to a succulent press has left him feeling he need justify nothing he says.

God, I hate him.

[PeeTeeJag]

It really is astonishing how so many people at Ibrox past and present can't help but stick their oar in and come out of it looking like tits.

I can't think of a single person that has actually said something relating to this farce that has come out of it with any dignity. They all use a tactic employed by politicians. If I talk long enough and say lots of words then people's brains switch off and they forget the point entirely.

Ask any of them "Did you get an EBT, yes or no?" A straight forward question, which on the face of it can be answered with a one word answer. But, even dullards like Sally and Dodds pontificate (hehe) at length, and in the end we can't remember if they did or they didn't!!!

[cyderspaceman]

This also my favourite bit. What is he saying here, seriously?

Is he trying to suggest that all these players have been reneging on payments and getting letters in red ink through the post for years, wondering why they've fallen behind in their loan repayments? Are these guys needing to give Ocean Finance a ring?

It's more of what we keep seeing in this whole saga. If you're vain and arrogant enough and sufficiently used to being fawned over, you really do seem to think you have the right to say black is white and people will accept it.

I also enjoyed the stuff about SPL chairmen not being motivated by sporting integirity OR the concerns of their own clubs' fans. What does that leave?

Years of talking to a succulent press has left him feeling he need justify nothing he says.

God, I hate him.

Wonga Wainjahs

[Ned Nederlander]

Murray bullshit in full:

http://sport.stv.tv/...tement-in-full/

Murray:

"Nevertheless, I cannot be anything other than angered at the suggestion that Rangers should be stripped of titles or other competition victories.

This suggestion is an insult to the staff and players who achieved these successes thanks to skill, hard work and commitment and for no other reason.

It is also an insult to the thousands of Rangers supporters who spent their hard-earned money to support the Club they love."

I was at the 2009 Scottish Cup, I spent my hard-earned money to support the club I love, Falkirk's players got to the final thanks to skill, hard work and commitment - if Rangers are found to have been 'at it' then who has been insulted the most ?

[PeeTeeJag]

Found this from the DR in february. Ok, it's written by Jim Traytor, so you may not want to take it too seriously............

"The bill could be as high as £50million, although not anything like the £75million Craig Whyte suggested could be the final reckoning."

"It’s believed this particular EBT scheme involves something like £48million in payments, basically made in the form of loans.

Rangers’ scheme workedlike this:

Players agreed the club would make contributions to an independent offshore discretionary trust and the beneficiaries would be the players themselves and/or members of their families.

Rangers were able to make recommendations to the trustees as to how the funds may be applied. But the trustees were independent, meaning they didn’t have to follow those suggestions.

The players could then request that the trustees of their own funds consider investing by making a loan to the players, but on a commercial basis. So, the trustees would lend money to the players at commercial rates.

These loans were repayable after 10-15 years, unless the trustees agreed to extend them. But ultimately the loans would have to be repaid on the death of the player and the trustees would then distribute the trust funds to other beneficiaries.

Crucially, as the club were not making payments, as earnings, this money wasn’t subject to tax."

So basically the club is saying that because they never gave the players the money directly then it wasn't earnings. Sort of like if I do a job for someone and they pay me, it's taxable earnings, BUT if that person hands the money to the next door neighbour, and THEY give me the money, then it's not earnings because I didn't do the job for them.

It's all so clear now.

[Monkey Tennis]

Murray:

I was at the 2009 Scottish Cup, I spent my hard-earned money to support the club I love, Falkirk's players got to the final thanks to skill, hard work and commitment - if Rangers are found to have been 'at it' then who has been insulted the most ?

Exactly, and of course, that can be taken much further.

How many fans in grounds and even on TV have over a decade invested in a competition in which there was systematic cheating?

How many players participated in competitions which were invalid and now need to be declared void?

Again, it's that doublethink which sees the criminals as the victims.

These people are so used to their might making them right, that they cannot get their heads round an alternative version - the truth.

[WeeHectorPar]

In amongst a barrowload of tweets from Fat Sally I really loved this one and am sure the players will love it as well.

Rangers FC Official ‏@RFC_Official AMcC on Edu/Boca/Goian - I've thanked them for coming back, but I've asked if they are going to go, they act quickly so we know where we are

Why didn't he just say "Thanks for coming back, but we don't want you, just the transfer money. Now fcuk off!"

[cimex]

And yet they bleat "we have been punished enough"...............................Once the Ibrox branch of Tesco's has been opened, all the players, managers, officials and directors of this rancid institution have been brought to justice and the money owed to the clubs, businesses and individuals has been repayed, and the record books rewritten to show the tainted titles have been removed, then they will have been punished.

[PeeTeeJag]

Police probe Twitter abuse aimed at Aberdeen goalkeeper Jamie Langfield

Wonder what the odds are on it being a 3rd division team's supporters?

Bloody Peterhead!!!

[WeeHectorPar]

Found this from the DR in february. Ok, it's written by Jim Traytor, so you may not want to take it too seriously............

"The bill could be as high as £50million, although not anything like the £75million Craig Whyte suggested could be the final reckoning."

"It's believed this particular EBT scheme involves something like £48million in payments, basically made in the form of loans.

Rangers' scheme workedlike this:

Players agreed the club would make contributions to an independent offshore discretionary trust and the beneficiaries would be the players themselves and/or members of their families.

Rangers were able to make recommendations to the trustees as to how the funds may be applied. But the trustees were independent, meaning they didn't have to follow those suggestions.

The players could then request that the trustees of their own funds consider investing by making a loan to the players, but on a commercial basis. So, the trustees would lend money to the players at commercial rates.

These loans were repayable after 10-15 years, unless the trustees agreed to extend them. But ultimately the loans would have to be repaid on the death of the player and the trustees would then distribute the trust funds to other beneficiaries.

Crucially, as the club were not making payments, as earnings, this money wasn't subject to tax."

So basically the club is saying that because they never gave the players the money directly then it wasn't earnings. Sort of like if I do a job for someone and they pay me, it's taxable earnings, BUT if that person hands the money to the next door neighbour, and THEY give me the money, then it's not earnings because I didn't do the job for them.

It's all so clear now.

Minty does however state that the loans have to be paid back so we can expect the liquidators to claim back the money from the players involved. A lot of personal bankruptcies on the cards in the next few months.

[wunfellaff]

Minty's issuing a statement later, according to STV reporter on Twitter.

Any ideas as to the contents? I'm going with 'it wisname me, a big boy did it and ran away, that porno guy said it was legit and I will never accept the legitimacy of any court'

Or

'it's a fair cop,guv'

Probably the first.

^^^^^^^^^^^ Mystic Meg........

He's just pissed that Oscar Pistorius was shit yesterday.

Sally still got an offer in, play just behind Pele, Zico and Muller..................

[Itwiznaeme]

Minty does however state that the loans have to be paid back so we can expect the liquidators to claim back the money from the players involved. A lot of personal bankruptcies on the cards in the next few months.

HMRC & their appointed liquidation firm BDO should be called to task now to recover every pound of those EBT's plus compounded interest for the period of time that has passed since then on behalf of all the British taxpayers and 300+ creditors who have been ripped off by Murray and his crew.

Edited August 6, 2012 by Itwiznaeme

[stonedsailor]

Minty does however state that the loans have to be paid back so we can expect the liquidators to claim back the money from the players involved. A lot of personal bankruptcies on the cards in the next few months.

LIES, T_S_A_R said quite categorically that loans do NOT have to be repaid!!!111!1!!1

[PeeTeeJag]

Minty does however state that the loans have to be paid back so we can expect the liquidators to claim back the money from the players involved. A lot of personal bankruptcies on the cards in the next few months.

Ah but that is after 10-15 years or on the death of the player.

So expect ex-rangers players to start having wee, fatal accidents shortly.

[cimex]

So in the last couple of days that's minty, sir watty de cardigan and fat sally all come out to make statements on EBT's - all deny any wrongdoing in what looks like a wagon circling excercise roon the big hoose. Much worried I think - good job Billy Dodds is there to add his tuppence worth

[cyderspaceman]

Leggo

Is there no end to the people Charles Greens

will do business with whose motives arouse suspicion

among sound, sane, sensible and rational Rangers supporters?

Now he really has lost the plot.

The more thieves, criminals, liars, cheats, fraudsters, robbers, conmen, fakes, gangsters, weasels, bandits, crooks, felons, shysters , double dealing, two faced charlatans and out and out c***s who get involved, the better. imo.