Big Rangers Administration/Liquidation Thread - All chat here!

[WhiteRoseKillie]

The debt to the bank was transferred to Whyte's company (it may be possible for that debt to be challenged, I don't know, but that's what happened). The resulting debt to Whyte's company was supposed to be waived unless there was an insolvency event. But of course there has been an insolvency event - which I suspect didn't come as a shock to Whyte. We also owe Ticketus - the figure given in the administrators' report is £26,700,000. Again, there might be a challenge to that debt but it stands for the moment at least. If you think something funny has gone on you'll need to ask Whyte.

Nah, surely not - everything's tickety-boo. :lol: :lol: :lol: :lol: :lol: etc. Oh my aching sides. You've been brave coming on here today, and fair play to you, but for the sake of your own sanity, just try, for a change, to acknowledge that this whole shooting match is like a shysters and charlatans convention. It must hurt when it's your team, but, given that you seem a reasonable chap, you must be embarrassed at trying to defend them in any way. Every day brings new revelations more damaging to rangers, and more amusing to the rest of us. Not every day a Mr Custard, but the sheer incompetence of the crooks behind the doors of the big hoose is just incredible - only exceeded by their arrogance when they've been caught.

KTID

[7-2]

I do believe we have found a rallying cry for the new, improved* Govan Athletic!

KTID

* No money, no history, no Europe, no integrity.

I love the idea that I've seen suggested a couple of places. Really turn the knife by having one of the fast track SPL entry conditions as the name Rangers can't be used in the name of the newco. Just wipe the b*****ds off the face of the earth as much as possible.

[WhiteRoseKillie]

as yet we are not due any monies from rangers, so until the 1rst June or July when ever the next instalment of £400,000 is due then we can't be added as creditors as yet, but i am very sure Vlad will be keeping an eye on this, even just for the amount he/hearts have had to pay in silly fines, Vlad has been very quiet on this whole issue so like everyone else we wait for the impending outburst, and unlike the other chairmen/owners does not give a franc about what others think about him

That's what I thought, but Hearts are on the list of creditors published by Duff & Duffer as being owed 800K. Why would they do that if they aren't due to pay? Or is there another reason the Hearts debt is ten or twenty times higher than that owed to other Scottish clubs? Who would benefit from the published debt being HIGHER than it really is?

KTID

[Stu]

I don't think anyone is actually saying that, more that they're quite chuffed that someone in the MSM has finally come out with the stuff the PR rehashers won't.

btw, the media fair went for Celtic's throat on any number of occasions back in 1994. So much so that there's still a general ignorance of the reasons as to why the Bank of Scotland were finally forced to action (or begin to) a winding up order on Celtic.

What has he revealed that the other journalists won't aside from saying there's some sort of cartel to write positive stuff about Rangers? None of his revelations about the state of play at Ibrox are new.

[kildog]

Their fans have been singing about, and revelling in no one liking, them for years. Yet now some of them seem genuinely hurt that this is true.

'OMG everyone is against us, they're terrible, it's a conspiracy!' Dry your fucking eyes! NO ONE LIKES YOU!

Looks like 'the people' care after all.

/insert pleasing .gif

Edited April 6, 2012 by kildog

[Mark Connolly]

That's what I thought, but Hearts are on the list of creditors published by Duff & Duffer as being owed 800K. Why would they do that if they aren't due to pay? Or is there another reason the Hearts debt is ten or twenty times higher than that owed to other Scottish clubs? Who would benefit from the published debt being HIGHER than it really is?

KTID

I'd have thought it's because they are buying Wallace on HP. The next installment isn't due yet, but that doesn't mean that they don't owe the money in the long run.

That's why they are talking about money they are due on transfers writing off money they are due to pay etc

[WaffenThinMint]

I think gents, and I do hope I am wrong here, but the SPL, the SFA and the Scottish Government all seem consider Rangers too important (for differing reasons, fair or otherwise) to disappear. In that sense we will see them retained in the SPL whether under the current guise or as a newco, and if a newco it will be accepted open arms into the SFA and in turn given Rangers' old berth in the SPL. The chairmen of the diddy clubs will hum and ho about it but will bend over in order the television money is retained, no sanctions will be placed on either Rangers or the newco. Sure there may be new rules put into place so that no other club can do the same but in reality this won't affect Rangers. In fact it'll probably end up hurting the clubs lower down when some sort of income/expenditure rules are put into place.

There are times I despair of Scotland, I really do. Even after yesterday, even despite all the evidence before yesterday, there's STILL some people with this "och, but they'll get away with it, the man in the big hoose always does" parochial mentality that's the bane of Scotland.

It doesn't matter a flying f**k WHAT the SPL, SFA, Scottish Government, Chick Young, etc want. The point is neither they nor Rangers exist in a magic bubble or some dictatorship where they can make up the rules as they go along. This isn't a game of Football Manager where if you f**k things up you can use a "trainer" to set yourself right. All they have had is a Traynor pretending everything's all right.

They can't magic away the tax case - the amount is too big, and the English are not going to let Rangers get special treatment whilst Portsmouth goes to the wall.

They can't magic away the sums owed elsewhere likewise, especially as some of that is owed to clubs outside of Scotland - I dare say the French and Austrian FAs are not going to stand idly by and watch St Ettienne and Rapid Vienna get stung by a Newco Rangers being allowed back into the Scottish set up and pretend away all their previous liabilities.

They can't ignore UEFA - or even FIFA - taking umbrage at the prospect of a club running up £137 million of debt trying the "old wine in a new bottle" route, saying 'so long, suckers!' to everyone they owe money to and bringing the entire domestic game into such disrepute with the various industries football is dependent on to exist (catering, kit manufacturers, media, building contractors for ground extensions and repairs, emergency services, etc) that they take a tougher line on dealing with all football clubs (ie. upfront payment for goods and services).

If the SFA etc allowed in a "newco" Rangers this summer, UEFA/FIFA may well retaliate by stripping the SFA of membership and debarring all Scottish clubs and national teams from all international competitions. There's been too many clubs taking the piss over debt, and this one would likely prove the last straw with them.

The football world like all industries depends on credit and trust with other industries to exist, lose that and most nations would be lucky to have a league of 10 clubs within two years. The SFA, SFL & SPL may well be stupid enough to risk it all on Rangers, but you can be damned sure that at that point none of the other Scottish clubs - not even Celtic - would be stupid enough to accept that. When it comes to the point of it being their own continued existence or Rangers continued existence, none of them would hesitate one second before deciding.

[Jacksgranda]

Nah, surely not - everything's tickety-boo. :lol: :lol: :lol: :lol: :lol: etc. Oh my aching sides. You've been brave coming on here today, and fair play to you, but for the sake of your own sanity, just try, for a change, to acknowledge that this whole shooting match is like a shysters and charlatans convention. It must hurt when it's your team, but, given that you seem a reasonable chap, you must be embarrassed at trying to defend them in any way. Every day brings new revelations more damaging to rangers, and more amusing to the rest of us. Not every day a Mr Custard, but the sheer incompetence of the crooks behind the doors of the big hoose is just incredible - only exceeded by their arrogance when they've been caught.

KTID

I thought Bearwithme was being sarcastic when he said "If you think something funny has gone on", but I might be wrong.

[jambopompey]

That's what I thought, but Hearts are on the list of creditors published by Duff & Duffer as being owed 800K. Why would they do that if they aren't due to pay? Or is there another reason the Hearts debt is ten or twenty times higher than that owed to other Scottish clubs? Who would benefit from the published debt being HIGHER than it really is?

KTID

only if debt due that our money is at £800K, as yet we are not due any money from rangers, from what i have gathered we are due 500k in july and a further 300k next july (2013) so as of this moment we should not be in the list unless the list also includes future payments as any for of CVA is going to take x amount of years to pay off so our monies due comes under that, if so i can bet Vlad will not be happy or forgiving or even being we let them pass this one

[craigkillie]

Not being funny, but can't we just forget about the whole administration thing & let rangers operate how they see fit. I mean, haven't they faced enough humiliation? Scottish football doesn't need this public flogging of one of the biggest institutions known to mankind.

Let the SPL foot the bill, scratch it off & move on!

It was, of course, the misguided intentions of individuals & not in anyway the fault of rangers football club.

We as football fans should be thankful that our clubs successes are directly related to the financial backing of this great club, who are, at the moment, on it's knees.

So I emplore all football fans to show some leniency & gratitude to a club, that throughout it's history have been with us every step of the way, helping our league flourish & represented all that is good about Scottish football.

Look at the bigger picture!

Now where did I put that nice bottle of bubbly I was saving

That will probably be Peter Lawwell's statement, word-for-word, in July.

[itzdrk]

errr, except it is not fair to ever other team that paid their taxes on time instead of spending the money on chasing pipe dreams?

all im saying is that sounded like a fair enough repayment plan (which is better for the companies to agree too than a cva because they get all of their money)

[Greenlantern]

That will probably be Peter Lawwell's statement, word-for-word, in July.

That would imply Peter Lawwell is motivated by money & nothing else?

We'll see who buckles first.... My guess the SPL

[killingfloorman]

all im saying is that sounded like a fair enough repayment plan (which is better for the companies to agree too than a cva because they get all of their money)

You're missing the point. A 'fair enough' plan is paying on time, otherwise they got an unfair advantage (also known as they cheated)

[craigkillie]

That would imply Peter Lawwell is motivated by money & nothing else?

Correct.

[Boghead ranter]

The debt to the bank was transferred to Whyte's company (it may be possible for that debt to be challenged, I don't know, but that's what happened). The resulting debt to Whyte's company was supposed to be waived unless there was an insolvency event. But of course there has been an insolvency event - which I suspect didn't come as a shock to Whyte. We also owe Ticketus - the figure given in the administrators' report is £26,700,000. Again, there might be a challenge to that debt but it stands for the moment at least. If you think something funny has gone on you'll need to ask Whyte.

Thanks for taking the time to try to answer something that's probably been answered 20 squillion posts ago and I've forgotten.

I thought £18mill of the Ticketus money was used to pay the bank, but the debt was actually transferred to a Whyte company instead. Where did the Ticketus money go then? Or is that the obvious question that I've seen asked before that no-one's been able to answer?

[Northsea80]

An animated update to what's going on, there's also an english version but i like this one better.

[TheLip69]

(And I write that part acknlowedging they were a European force in the 60s & 70s - They are now just an embarassment to society).

I think you do them an injustice while I agree they were a major European force in the '60's and '70's they have ALWAYS been an embarrassment to society.

[PeeTeeJag]

The reason that hmrc probably told whyte to take a flying leap is because of their dealings with him on a number of occasions before. It's not the first, second or third time that he's tried to shaft the taxman.

It's like a mate that borrows money off you and says he'll pay it back. When after a couple of times he still hasn't given you all your money back you eventually tell him to sling his hook.

Time for all the lying from whyte, rangers, murray, the media, sfa and spl to end.

[Greenlantern]

Correct.

He would say be careful what you wish for, with regards to title parties.

But I'm in total agreement with you.

[Mr Waldo]

only if debt due that our money is at £800K, as yet we are not due any money from rangers, from what i have gathered we are due 500k in july and a further 300k next july (2013) so as of this moment we should not be in the list

You've confused me.

If a billionaire comes in, Rangers owe Hearts £800,000. He'll need to pay it. Surely it doesn't matter if Hearts are due the money now, tomorrow, or next month. He'll still need to pay it. Therefore it a debt.