Big Rangers Administration/Liquidation Thread - All chat here!

[WeeHectorPar]

A wee question for the boards legal beagles and financial foxes.

Ashley has been blocked form buying shares direct from the club via a shares issue by the SFA, so if club sold him shares then they'd be in soapy bubble.

But what if Ashley bought shares privately from the 'open market' (?) Would the club be held accountable by the SFA for something which they could claim was outside their control?

Think he'd have to be declared once he went beyond a certain percentage, (5%?) Please correct me if I'm wrong. They couldn't do much against Ashley other than fine him but they could take action against the company via the club by fines, points deduction or even withdrawing it's licence.

[williemillersmoustache]

Deary me. It is morally disgusting for a company to legally pay as little tax as possible but it is morally delightful to watch a company be liquidated and for people to lose their jobs.

Not real people though. Unless you mean those creditors who had to lay off staff because they were bumped by cheat FC.

Those ordinary employees of olddeadrangers who were let go, well i have some sympathy for them. Precisely the same amount in fact as i do with all the henchmen who get themselves killed in a bond film. They knew what they were working for, collateral damage at best, collaborators at worst.

Perhaps if the fans gave a f**k they could have done a whip round. But they don't, so they didn't.

[bennett]

Only the HMRC tax bill kept others from investing in 2012.

Rangers bank debt had been halved to under £18 million when Murray was forced to sell. That debt was easily manageable if the right people had been able to invest.

No Whyte would have most likely seen the debt cleared in around 4 years or so, tho.. some people on people on here seem to have the blinkers on when it comes to Rangers.

The weak point in my opinion was that Rangers were so intwined with MIH, which was heavily in debt with the bank.

[H Wragg]

He still is assistant manager. However, in the absence of the manager, as would be the case if Ally was ill, he is now acting manager. He's still working his original contract with the promise that, if things work out, he may be considered for the permanent post next summer.

So he's doing a bit of a Tommy Craig?

I suppose the difference being that he apparently has Ally's backing.

[WeeHectorPar]

Not real people though. Unless you mean those creditors who had to lay off staff because they were bumped by cheat FC.

Those ordinary employees of olddeadrangers who were let go, well i have some sympathy for them. Precisely the same amount in fact as i do with all the henchmen who get themselves killed in a bond film. They knew what they were working for, collateral damage at best, collaborators at worst.

Perhaps if the fans gave a f**k they could have done a whip round. But they don't, so they didn't.

That is totally out of order! We are talking about real, decent people who have lost their jobs. Do you feel the same about the employees who are losing their jobs because they worked for the b*****d who owns City Link?

[Jacksgranda]

Does Everton's not also have a chapel within it's structure?

Yes - St Domingos (Methodist, unfortunately for the Old Firm "Roman Catholic Everton, Protestant Liverpool" line pushers).

[bennett]

Could he not just "buy influence" as opposed to shares in the same way he provided the £3m secured loan?

I can see that happening, debt for property and more one sided deals etc.

Think he'd have to be declared once he went beyond a certain percentage, (5%?) Please correct me if I'm wrong. They couldn't do much against Ashley other than fine him but they could take action against the company via the club by fines, points deduction or even withdrawing it's licence.

Think it's 10% he's alllowed. Still don't see how they could enforce any action against Ashley if he bought the shares from say Laxley/blue pitch etc but the club would be different matter i suppose.

[WhiteRoseKillie]

No Whyte would have most likely seen the debt cleared in around 4 years or so, tho.. some people on people on here seem to have the blinkers on when it comes to Rangers.

The weak point in my opinion was that Rangers were so intwined with MIH, which was heavily in debt with the bank.

There's quite a few businesses who would see their balance sheets look healthier if it wasn't for that pesky VAT and PAYE in the debit column.

The only ways rangers could have survived was either by emulating their Sisters with their transfer dealings, or with a regular extended presence in European competition. A common failing amongst ra peepul is a failure to see that 2008 was an aberration, rather than the new norm.

[GreenockRover]

A wee question for the boards legal beagles and financial foxes.

Ashley has been blocked form buying shares direct from the club via a shares issue by the SFA, so if club sold him shares then they'd be in soapy bubble.

But what if Ashley bought shares privately from the 'open market' (?) Would the club be held accountable by the SFA for something which they could claim was outside their control?

"Shell Companies".

An oft used strategy in the murky business world used to hide the true purchaser of many things of interest to financial regulators.

Often too complicated to unravel not to mention the costs involved.

Would be simple enough for Ashley to organise...

...If he thought that type of skullduggery was worth the effort or, more importantly, the risk to his businesses if caught.

[WeeHectorPar]

So he's doing a bit of a Tommy Craig?

I suppose the difference being that he apparently has Ally's backing.

f**k all to do with Ally's backing. He has a contract with the club. I, and anyone else with an ounce of common sense, would imagine that the contract of someone employed as assistant manager would include a clause indicated that he would take over managerial duties in the absence of the manager. The manager hasn't yet been sacked, so his assistant is replacing him. Is that so difficult to understand? Or are you just trying to stir shit?

[bennett]

There's quite a few businesses who would see their balance sheets look healthier if it wasn't for that pesky VAT and PAYE in the debit column.

The only ways rangers could have survived was either by emulating their Sisters with their transfer dealings, or with a regular extended presence in European competition. A common failing amongst ra peepul is a failure to see that 2008 was an aberration, rather than the new norm.

Rangers did fairly well in transfer market with several good sales going down south, made a tidy profit on a few players and were actually buying/brigning in players quite wisely.

We're just going to have to disagree on this one as it's silly to argue about this.

[bennett]

"Shell Companies".

An oft used strategy in the murky business world used to hide the true purchaser of many things of interest to financial regulators.

Often too complicated to unravel not to mention the costs involved.

Would be simple enough for Ashley to organise...

...If he thought that type of skullduggery was worth the effort or, more importantly, the risk to his businesses if caught.

I reckon we already have two of those shell companies as it is.

Is flogging sports gear to Rangers fans really worth all this effort though, when he already owns one of larger EPL clubs?

[WeeHectorPar]

I can see that happening, debt for property and more one sided deals etc.

Think it's 10% he's alllowed. Still don't see how they could enforce any action against Ashley if he bought the shares from say Laxley/blue pitch etc but the club would be different matter i suppose.

I think it's much less than 10% otherwise Ashley would still be an anonymous shareholder.

[H Wragg]

I believe he would be able to tell them he's not doing it, save for a few weeks, without being in breach of his contract.

He obviously wants the job despite all the shite that's befallen his pals. He should spare us the 'difficult position' pish.

Edited December 29, 2014 by H Wragg

[gavin_3110]

Are they dead yet?

[WhiteRoseKillie]

That is totally out of order! We are talking about real, decent people who have lost their jobs. Do you feel the same about the employees who are losing their jobs because they worked for the b*****d who owns City Link?

Now, I know City Link as one of the more reliable parcel delivery services, although I understand other customers have had varying levels of dissatisfaction with their service. I am not aware of any dodgy financial practises or corruption within the company and, as far as the news reports tell it, they have gone under through a failure to compete. Managerial incompetence is not unknown in modern Business, you know.

The new club at ibrox has pissed away tens of millions of pounds, vastly overspent on players and senior employees, while allowing the infrastructure of the club to wither. How much maintenance has actually been done recently? The writing was on the wall for this lot from Day One - those of us on the outside could see it, and if my mortgage and food depended on it, I'd have been looking to get out pretty fucking sharpish. The clusterfuck at ibrox has been played out in the MSM since the start, and I would expect those actually working there to know more than me. Sitting there thinking things were going to come out fine in the end would have been the act of a simpleton.

[williemillersmoustache]

That is totally out of order! We are talking about real, decent people who have lost their jobs. Do you feel the same about the employees who are losing their jobs because they worked for the b*****d who owns City Link?

Don't recall citylink delivering bigotted parcels or cheating all the other 3rd party logistics firms for years. Do you?

My point is that it is not just the c***s at the top that are the problem, the whole club is poison, no redeeming features and you need to throw the baby and the bathroom, if not the whole house (big) out with the bathwater to cleanse it.

You want to blame anyone, blame Murray, he abandoned ship and all the employees when he sold to Whyte. But frankly if you couldn't smell the reek of of impending doom at Ibrox then your nose is not fit for purpose.

[Monkey Tennis]

I think it's much less than 10% otherwise Ashley would still be an anonymous shareholder.

The agreement is for 10%. Ashley currently owns 8.92% I believe.

[WeeHectorPar]

Now, I know City Link as one of the more reliable parcel delivery services, although I understand other customers have had varying levels of dissatisfaction with their service. I am not aware of any dodgy financial practises or corruption within the company and, as far as the news reports tell it, they have gone under through a failure to compete. Managerial incompetence is not unknown in modern Business, you know.

The new club at ibrox has pissed away tens of millions of pounds, vastly overspent on players and senior employees, while allowing the infrastructure of the club to wither. How much maintenance has actually been done recently? The writing was on the wall for this lot from Day One - those of us on the outside could see it, and if my mortgage and food depended on it, I'd have been looking to get out pretty fucking sharpish. The clusterfuck at ibrox has been played out in the MSM since the start, and I would expect those actually working there to know more than me. Sitting there thinking things were going to come out fine in the end would have been the act of a simpleton.

http://www.dailyrecord.co.uk/news/scottish-news/city-link-job-losses-meet-4879447

The multi-millionaire put parcel carrier City Link into administration after their final Christmas deliveries were made and staff headed home for the festive period.

It was left to union reps to email all 2727 workers – including staff from the company’s depots in Glasgow, Edinburgh, Aberdeen, Motherwell and Livingston – on Christmas Day with the devastating news their jobs were at risk.

Mick Cash, general secretary of the RMT union, raged: “The timing of the announcement stinks to high heaven. This was the most brutal and callous way to treat nearly 3000 staff.”

Moulton donated more than £450,000 to the Tories between 2004 and 2011, pouring funds into the party’s war chest to get David Cameron elected.

The fatcat has called for deeper public spending cuts and for low-paid workers to get the same tax rates as the mega-rich.

His investment firm Better Capital bought City Link for just £1 last year and he claimed he could turn the struggling firm around.

Cash raged: “They haven’t allowed it to move forward – they’ve put only a small amount of money in. They should have invested, took a long term view, and if they’d have done that, we wouldn’t be talking about all these redundancies.”

Some workers said they learned of their fate through the media and bosses have yet to speak to them.

Employee Mark Critchley called on them to “man up” and visit offices to explain the decision. He said they insisted jobs were secure up to Christmas Eve.

Mark said: “They’ve had plenty of opportunity to say we’re going to close down. They could have helped people rather than

dropping them in it. They’re all very cowardly men who will not face the music.”

Labour said the timing of the announcement was “inexcusable”. MP Paul Flynn accused City Link bosses of “indifference,

cynicism and stupidity”.

Last night, the RMT wrote to Business Secretary Vince Cable demanding an urgent meeting. Cable said he would meet the union, adding: “This is a bitter blow for the workforce.”

City Link operations have been suspended at all their depots until Monday, when customers and those expecting deliveries can collect parcels. Moulton was unavailable for comment.

[WeeHectorPar]

The agreement is for 10%. Ashley currently owns 8.92% I believe.

Talking about the percentage to keep ashley off the share holding radar which was the original point.