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Big Rangers Administration/Liquidation Thread - All chat here!


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Do you believe the BBC have an anti rangers agenda Benny?

If you do, why do you think that is?

I'll tell you what, see whatever question youre building up to - just ask it now, as i can't be arsed going through 5 or 6 questions before we get there.

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It isn't a company.

From the administrators:

"As administrators, our primary statutory function was to ensure Rangers continued as a business and this was achieved. Secondly, we were tasked to secure a buyer for the club and this too was achieved."

From Lord Nimmo Smith and his colleagues:

"On 14 June 2012 a newly incorporated company, Sevco Scotland Limited, purchased substantially all the business and assets of Oldco, including Rangers FC".

Anyway, I think I'll watch the rea-life tennis rather than the virtual ping-pong on here. :D

bit in bold.. how the hell does liquidation count as an achievement ? the business part of the incorporated club and company died.

could they pay their bills ? no

could they get out the hole they were in ? no ..

so how can d&p actually claim that?

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bit in bold.. how the hell does liquidation count as an achievement ? the business part of the incorporated club and company died.

could they pay their bills ? no

could they get out the hole they were in ? no ..

so how can d&p actually claim that?

There was no "business part".

The club was incorporated as a company many years ago. The two terms are synonymous - even the old club stated so in their original articles of foundation.

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bit in bold.. how the hell does liquidation count as an achievement ? the business part of the incorporated club and company died.

could they pay their bills ? no

could they get out the hole they were in ? no ..

so how can d&p actually claim that?

As i told Rico yesterday, ask them. Duff and Phelps contact details are on their website, they'll be more than happy to put you in the picture.

But you first of all, you have to ask them...

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On phone mate, no can do.

Or probably can, just haven't worked out how. :(

Found it, unfortunately it's behind a pay wall so I can't read it :(

Anyways, here is an Q&A answering what would happen in the event of the CVA failing

It's from June 2012. Funny enough, no mention the club is separate from the company

http://www.bbc.co.uk/sport/0/football/18413384

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Forgot to point out this part from the Q&A

"The Rangers Football Club PLC is a public limited company registered in Scotland (company number: SC004276) and was incorporated on 27 May, 1899. When the current company is officially liquidated, all of its corporate business history will come to an end."

Thankfully some posters on here nicely pointed out Rangers was a "business"

;)

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