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Big Rangers Administration/Liquidation Thread - All chat here!


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Does the article say the name of the company involved?

"...financially troubled shoe firm FII Group..."

The companies pension fund trustees had contacted the Companies Investigation Branch (who they?) and the security services helped CIB monitor the calls.

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"...financially troubled shoe firm FII Group..."

The companies pension fund trustees had contacted the Companies Investigation Branch (who they?) and the security services helped CIB monitor the calls.

Cheers. Sounds like he was trying to raid their Pension Fund..

Rangers directors were assured by solicitor Gary Whitey, then (but no longer) of Collyer Bristow, that his client Craig Whyte had the funds not just to repay Bannk of Scotland £18m but also to provide a working capital facility of £5m. Collyer Bristow had been provided with "written confirmation from a UK financial institution".

It is now suggested that the institution may have been none other than Merchant House Group (MHG), where Whyte was a major shareholder with influence on the board. Furthermore, Whyte was said by MHG to have had more than £30m available to spend. If this is true, then clearly MHG as well as Withey were misled. BoS was repaid from the sale of Rangers' future ticket revenue.

After Whyte had been disqualified as a director in 2000 he came to the attention of the Companies Investigation Branch (CIB), when he started making moves on financially troubled shoe firm FII Group, where his old pal Aidan Earley was a player. By September 2002 Monaco company Lebron Holdings Services had acquired a more than 5 percent stake. Lebron and Whyte were previously linked at failed Re-Tex Plastic Technology.

The CIB was contacted by the FII pension fund trustees, who were concerned about Whyte and Earley's intentions. The CIB monitored Whyte's telephone calls from Monaco, with the help of the security services. Any deal fell through, so the CIB took no further action.

FII collapsed in 2004, largely due to its pension fund deficit.

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Top marks to the guy interviewing Amaruso on Sportsound.

Interviewer, "Did you know about EBT's".

The bold Lorenzo "I'm Italian. You thing EBT's are corrupt? Fuck that come to Italy and I'll show you corruption! If I was paying in italy my official wage would be such I would be getting state benefits! I'd send my butler to cash the Giro."

Yeah Pavarotti on sky sports just now talking about how they can't take 7 titles away from rangers because they won it on the pitch nothing to do with money........really, so the £50 mil in dodged tax which went on players had no affect?! .....back to the Baillies you fat dud.

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Anyone else beginning to get the idea that the Fighting Fund may be used to hire a hitman to take Whytey out? It's the only way they will ever stop this guy screwing the living daylights out of them. :lol:

I've been convinced for some time that someone will take him out. (One for fans of Mr Jolly Lives Next Door).

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I've been convinced for some time that someone will take him out. (One for fans of Mr Jolly Lives Next Door).

May have to come to that... Cause what 90% of the press keep ignoring is that Whyte OWNS Rangers and he's going nowhere unless he wants to and that won't happen unless he can make a lot of cash, all this bidder crap and RFFF pish is just a red herring , Whtye must be laughing in to champagne everyday listening to the utter guff comming out about who's going to do what with HIS club.

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It's going on and on and on and on.

Are D&P scared to liquidate Rangers ?

Being a Dundee fan I thought I knew a wee bit about administration. Although I live away I have tried to help out on both occasions and I think I knew roughly what we (fans) had to do to help save our club.

In both cases the Administrators gave us a rough idea as well what we needed to do and what he had to do.

It wasn't pleasant and I know most Dundee fans, although pleased to have helped save the club, are still ashamed of the things which happened to put us there.

This seems to be a completely different kind of administration, the numbers (£s) involved compared to ours don't seem that high considering their "Global fan base", and yet till now the admin men don't seem to have given the fans any kind of clue what they should be doing to help.

Everything seems to be hanging on a new saviour coming into the club. huh.gif

They could delay this for months, I know I would if I was getting £624 an hour.

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Wisnae me guv, a wee guy did it and ran away.

http://www.sport.co...._adjourned.aspx

Can't see this ever coming to a hearing if his lawyers need time to present a case......unless the SFA are willing to accept that aiding old ladies across the road and helping lame dogs to cock their leg against a lamppost are mitigating circumstances.

I thought I had seen the greatest exploits in the history of mankind with the Apollo landings but to see the mighty Rangers disappear from existence may be too much for my heart to accept. It would be like winning £150M on Euromillions and snuffing it before you could put in a bid for them. :lol:

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Fully agree, I know because of the "big tax case" things are a bit different from "admin II" at Dundee but something strange is going on with this one.

The money the fighting fund has raised is about the same as the Dundee fans raised in 2 months. Rangers have a way bigger fan base who just seem to be sitting back and waiting for someone to come in and pay off the debts for them.

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BBC Scotland has learned Rangers' administrators have rejected Brian Kennedy's takeover bid for the Ibrox club.

The Sale Sharks owner made his offer almost two weeks ago along with four others and had urged administrators to speed up the process.

Duff and Phelps want a new owner in place by the summer.

More to follow...

Why have Duff & Phelps bounced Kennedy at this stage?

He had put in an offer. If not good enough why not just hang onto it of only as a last resort. Where is the pressure coming from to tell Kennedy to sod off?

Either they are trying to whittle down the field. Or they know who is going to win (doubt anyone will).

As ever their decisions smack of some underlying scam. mad.gif

Edited by thelegendthatis
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