Big Rangers Administration/Liquidation Thread - All chat here!

[flyingrodent]

God help them

God please don't help them.

[hellbhoy]

The share issue target was a stated minimum of 3 mill. The shares went for 3.3 mill. So far we've had present directors declare that they took 0.5 mill. That means these lucrative stakes in Sevco, offered to the public (you and I included) have gone for 2.8 mill. What we need to need to know is who bought the shares that the Easdales never stumped up for?

There are several reasons to buy shares, as we all know:

1) To reap a profit by selling them on aftewards (assuming a higher share price);

2) To reap dividends from them (% of profits);

3) to gain control of the companies assets (or a part of them);

4) A punt, on a mibbe/mibbe-no venture;

5) Blind loyalty to a company that means more than money to you.

Any others?

Who bought the shares? The answers are in there.

I know Benny says I have some imagination and all that but let put forward my best possible Sherlock Holmes deductions.

The Rangers BoD, "OK criminals oops I do mean friends country and gentle lend me your ears. The clubs fucked for money seeing as we bled it dry and it needs some more, ,,,, for us of course. I suggest we put forward another share issue and con the stupid fans into propping up the club whilst at the same time we loan the club the money so we get it back to ourselves har har".

Major investors, "What if the fans don't buy up the whole lot of shares in issue ?, who's going to stump up for that ?".

Rangers BoD, "AHHH !, now this is where we employ smoke screens and mirrors just like the last time, We get the daft cnuts, I mean the loyal fans to buy up as many shares as possible and exchange them for shares in the club so they do not own shares in the PLC and we wouldn't want them on this BoD's case would we ?. Once they have bought as many of the shares as possible we want you the investors to underwrite the value left to a specific amount and we'll make up the rest to pass as a successful minimum to give the illusion it was a success if they don't buy them all up".

Major Investors, "What's in it for us ?".

Rangers BoD, "The money we are asking to put into the share issue you'll get back plus the added bonus of owning more shares keeping your percentage as high as now. You buy up a set amount and we loan it to the club to stay solvent ensuring you get your cash back at some point even if the club goes tits up. And this is the best bit guys !, the money the fans cough up in the share issue will be loaned to the club and when we get it back to the holding company we'll divvy it out amongst us".

Major Investors, "What if the fans buy up all the shares ?".

Rangers BoD, "Remember we will swap the shares for shares in the club itself, they get more control of the club thinking they're getting their club back but because we on the board in the PLC actually fucking own them bitches and their club the BoD they put into the club will do our bidding because we own their asses".

Major Investors, "What if the club goes tits up ?".

Rangers BoD, "Well if it does then we'll own just about everything the club owned that wasn't nailed down and your shares in the PLC owning the clubs assets and everything another organisation needs to clone the club back together will be safe from the club in administration. Should the club actually fucking exit admin ha ha slight chance I know it will still be in debt to us and be debt free elsewhere to run it back into the ground and rinse and repeat".

Major Investors, "How many times can you do this ?, clone the club again and again ?".

Rangers BoD, "The associations or so desperate to get a Rangers club in the top tier they'll even lube their own arses to slip one into the top division even if it means the rest of the other clubs fans abstain".

[cyderspaceman]

The fans bought shares in the initial IPO that were exchange for shares in the club "RFC Ltd", that's part of the major con there as the fans don't have shares in the holding company. Although fans have a say in the club they don't have a say in the holding companies shenanigans who own the club.

As far as I am aware, buying shares in The Rangers International Football Club means you have shares in that public limited company, which is listed on the Alternative Investment Market under the symbol 'RFC'

The con was that the fans believed they were buying shares in the 'club', Rangers Football Club Ltd, which is a private limited company, whereas it was actually in the holding company TRIFC.

[lodmoorhill]

Yet again, it's a case of the ruthless leading the deluded.

Surely to god the Rangers fans are going to realise at some point that they hold the key to power at Ibrox. They always did.

No income for the club = no club. None of their fans are happy, yet they continue to feed the beast. It's so obvious a three year old could understand the implications. They've been fleeced, continue to be fleeced, and seem happy to be fleeced for the foreseeable future.

Whilst the majority of us diddies would shed no tears at the demise of either of the ugly sisters, it's unfeasible that Rangers or Celtic could ever disappear off the face of Scottish football simply because of what they are. However much people loathe them it's inevitable that they will eventually pop up again, albeit in another guise.

The Rangers fans simply have to withhold money, support, and ensure a boycott of any corporate sponsors. It's all they have ever had to do. They can easily force the spivs to sell up to a new "messiah". The spivs will sell before the club goes bust, simply because getting a bit of money is preferable to getting f**k all.

Without the fans money, the board are a busted flush. The fans could have brought them to their knees a long time ago, and forced a change of ownership. The performance of their supporters clubs throughout the whole debacle has been woeful. If they'd spent less time dicking on about world domination, and "getting back" at the rest of Scottish football, and more time tackling the board head on, they wouldn't be in the position they are now (which is bent over and fucked up the ass).

Mind you, it's been a bit of a giggle for everyone else.

[Bing (2)]

Game moved to last night so the confirmed bachelor could go far a Walk?

[Florentine_Pogen]

Game moved to last night so the confirmed bachelor could go far a Walk?

54hpns.jpg

Is that Dark Mingewall ?

[Bing (2)]

Yip

[hellbhoy]

As far as I am aware, buying shares in The Rangers International Football Club means you have shares in that public limited company, which is listed on the Alternative Investment Market under the symbol 'RFC'

The con was that the fans believed they were buying shares in the 'club', Rangers Football Club Ltd, which is a private limited company, whereas it was actually in the holding company TRIFC.

My reasoning is that the Ltd club itself cannot take the title of a PLC replacing Ltd status, this is because the Rangers Football Club PLC is in the process of liquidation.

The club before the creation of the International PLC the club had a limited amount of shares and why it is called a limited company and cannot issue shares in any public sale because that would then conflict with the club in liquidation PLC status. There cannot be two legally known entities of the same name and why the Ltd club could not issue shares in any public sale making it a PLC.

The holding company however could actually theoretically swap the limited shares from the club to the fans in exchange for their public shares in the holding company and the club maintains it limited status because no new shares were ever issued complying with corporate law.

If this has been the case and has actually transpired the fans will get royally shafted.

Just thought I'd throw that into the mixer seeing as anything possible can happen at Ibrokes and we all know the spivs can loop legal holes if there are any to be looped.

I did a bit of research into whether this could be the case in the corporate business world and it is possible for this to happen if the fans agreed to this deal at the time of sale.

Actually it's be fucking hilarious if this did actually happen.

[hellbhoy]

They just have the holding company and ltd company/club to make asset stripping quick and convenient in the event of a pre-pack CVA ensuring the spivs are the major creditors and any IPO funds are creamed off ... enabling them to sell the 'club' to any interested buyers including the fans ..

I don't think it runs any deeper than that ... the company in liquidation is no longer a block to any naming convention as it's now called Rangers 2012 or something like that ...

But on a bright note for the bears ... Phil was wrong about the share issue ... Tedi is cock-a-hoop as it was a resounding success by failing to make the full 4 million with the spivs stumping up a large portion to make the 75% cutoff .....

Imagine Phil under estimating the determination of the spivs to keep the banger bus on the road .... :lol:

You don't think it runs deeper than that ?, you underestimate the spivs Dhenny. These crooks will have all sorts of mechanisms to fleece the fans and shaft them in the event they run the Ltd club into the ground.

The clubs a clusterfuck of biblical proportions at the moment.

[hellbhoy]

Wrong choice of words, the fleece factor definitely runs deep ... just think the naming convention is bollix

Then why didn't the spivs just rename the holding company to "Rangers Football Club PLC" ?, seeing as there is a notable difference between the entities according to corporate law, one is a Ltd company and the other is a PLC company.

[Bing (2)]

Because they wanted to use International in the name to promote 'global brand' image during the IPO to ill informed investors outwith Scotland ... plain and simple ...

The name is not in use by any company at present ... as far as I am aware ..

1. The liquidated club is Rangers 2012 or some such ...

2. The current ltd club is TRFC ..

3. The holding company is RIFC

There is no bar calling the holding company RFC PLC as far I can tell ... they simply chose not to do so for the reason I have stated.

You been sniffing the communion wine again?

(Disclaimer: No offence intended to Catholics by that last remark, not that they are sensitive fannies like the currants)

Pheonix.................

[hellbhoy]

Because they wanted to use International in the name to promote 'global brand' image during the IPO to ill informed investors outwith Scotland ... plain and simple ...

The name is not in use by any company at present ... as far as I am aware ..

1. The liquidated club is Rangers 2012 or some such ...

2. The current ltd club is TRFC ..

3. The holding company is RIFC

There is no bar calling the holding company RFC PLC as far I can tell ... they simply chose not to do so for the reason I have stated.

You been sniffing the communion wine again?

(Disclaimer: No offence intended to Catholics by that last remark, not that they are sensitive fannies like the currants)

Chucky bought the name "Rangers Football Club" (the trading image) from the administrators what he couldn't inherit is the company status of the old club "PLC", the oldco was renamed to RFC 2012 PLC to allow Chucky to rename his company Sevco Scotland to "Rangers Football Club Ltd". What Chucky has been not allowed to use is the PLC status name of the club that went into liquidation and the name and company status of the oldco are listed in companies house as previous names used by the club ie "Rangers Football Club PLC". Once the old club has been fully dissolved then the club can apply to companies house to become a PLC because they have systems in place that flag up companies of similar name and the old club is still being wound up.

[hellbhoy]

My mistake then ... I assumed when he renamed it the company name was freed up also ... explains TRFC then. Zombie phoenix clubs with holding companies .... confusing.

Anyhoo .. still think you've been on the communion wine ya bassa .. confess ... it's good for the soul .... :lol:

We don't use wine at our church unfortunately and the fecking kosher grape juice replacement is crap, I quoted to the pastor even Jesus would spit this mush out and would ask for some alcohol as the Jews in Israel in the time of Jesus only drank very weak wine because the water was usually polluted and wine was healthier.

Anyhoo Stella's are cooling down in the fridge and the wife says she's gettin ta hell ootta dodge,fcuk knows why ?

[bennett]

The QC and that other twat, self appointed experts on Rangers, financial matters and company laws.

[Jacksgranda]

The QC and that other twat, self appointed experts on Rangers, financial matters and company laws.

and wine.

[CityDave]

Are Fraser Aird's comments on immigration and the vote a reflection on Rangers and views of people who choose to associate themselves with that club?

http://www.scotzine.com/2014/09/rangers-youngster-fraser-aird-posts-anti-immigrant-indyref-comment/

[No8.]

Are Fraser Aird's comments on immigration and the vote a reflection on Rangers and views of people who choose to associate themselves with that club?

http://www.scotzine.com/2014/09/rangers-youngster-fraser-aird-posts-anti-immigrant-indyref-comment/

Oh look a Rangers player wrote something about Politics. Really who cares what Fraser Aird thinks? Nothing controversial in those comments at all and even less truth.

[timmy]

Oh look a Rangers player wrote something about Politics. Really who cares what Fraser Aird thinks? Nothing controversial in those comments at all and even less truth.

Sweep sweep nothing to see here. How can you defend that?

[No8.]

Sweep sweep nothing to see here. How can you defend that?

Defend what?

[No8.]

What an absolutely daft assumption, this is simply an individual expressing an individual opinion, I also think he has a point, there are many people in this debate that do not have a clue.

I watched a programme on the BBC news channel called Mibbes Aye / Mibbes Naw (i think) and the lad from Dennistoun has changed from a No to Yes as he reckons the party if the Yes Campaign win will be better

The Girl from Parkhead has changed to Yes as well as she has read up on it all and wants to keep free prescription and free University places...That's great but these are already decided by the Scottish Government!!