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Big Rangers Administration/Liquidation Thread - All chat here!


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A wee gem from the Pension stealing criminal a few years back.....

Johannesburg King faces 322 counts of fraud, foreign-exchange contraventions, tax evasion and racketeering.

But the businessman has denied all charges. Instead he has told the taxman that since being declared bankrupt a decade ago he has been supported by his elderly mother, Agnes.

...lol uses his 80yr old mother to lie about tax what scum....

Regarding his mother Mrs. N Mr. [Dave King] testified that all his wealth originated from his extremely wealthy mother, Mrs. N. He had no assets of note after he had lost everything by about 1995. He testified that he had no direct or indirect interest in the appellant. According to Mr. [Dave King], at all stages his mother held a controlling interest in ABC Ltd through her trust structures of which he had little knowledge. He described her as ultimately the beneficial shareholder of 50 % (or more) in the appellant (he did not know the precise percentage, but knew that it was more than 50 % at all stages: i.e. a controlling interest). According to Mr. [Dave King], Mrs. N was also, on an ultimate beneficial basis, the owner of ST Ltd, of which he also had very little knowledge. According to Mr. [Dave King] his mother would have set it up using her advisor in Glasgow....

Edited by THE KING
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This isn't 'my' determination it is the way of The Big Thread. On the one hand there are reasonable, charming and handsome Bears who are always prepared to engage in open discussion.

On the other hand there are the those who align themselves with minks who get letters from their club asking them to wash and who go on to shite in supermarket bags.

It is beyond ridiculous that you deny this simple dichotomy and clearly you've had MT Towers' lavvy removed and are stocking up on Lidl bags.

Name these handsome bears!!!

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http://www.eveningtimes.co.uk/sport/14206094.Rangers_fans_drop___500k_loan_plan_despite_widespread_support/

A FANS shareholder group has dropped plans to provide the Ibrox club with a £500,000 loan despite a members vote being 96.58 per cent in favour.

A Rangers First circular has revealed that only 2.88 per cent were against the idea and 0.54% abstained.

William McIntyre, a fan for around 50 years, who was appointed as one of the first five directors of the community interest company, left the board over a week ago while a row blew up over the proposals to provide a £500,000 interest free loan to Rangers.

Rangers since stated it is not considering further loans at this time "beyond what has already been committed and announced".

Rangers First, the eighth biggest shareholder group at the club, began polling members over the potential loan with a deadline of Sunday.

A group circular said: "The vote has seen overwhelming support for the principle of the loan. Following the club’s announcement last week regarding our proposal, we will continue to examine ways to assist and support our club and in so doing, pursue the objectives of Rangers First.

"In future, if the members of Rangers First wish to revisit this idea then we will manage this and other major decisions in a different way with greater direct involvement of the members before any vote."

The loan move came after Rangers received loans worth £6.5m in order to pay off a loan from Mike Ashley's Sports Direct retail company.

The new money came from directors and shareholders.

Hong Kong-based fans Barry Scott and Andy Ross, plus Rangers International Football Club director John Bennett, have provided funds for the first time.

Chairman Dave King, via New Oasis Asset Limited, director Douglas Park and shareholders George Letham and George Taylor have previously supplied loans.

The £5 million loan from Sports Direct, owned by Newcastle United owner and Rangers shareholder Ashley, had helped the Glasgow club stay afloat nearly a year ago.

The Rangers First circular went on: "We are disappointed to confirm that we have received the resignation of William McIntyre, a director who was directly elected by members in our inaugural poll. "The Rangers First board would like to put on record our thanks to William for all of his time and effort in helping to move Rangers First forward.

"Like all Rangers supporters we stand Ready to help and support the club as it rebuilds."

Rangers said last week as members voted: "It should... be understood that Rangers First was not approached by the club for funding and, despite what has been incorrectly reported, had no discussion whatsoever with the chairman, Dave King, that their funding, if accepted, would be matched by Mr King."

The fan ownership scheme, which has become one of the largest shareholders in Rangers International Football Club plc in recent months has offered the money on the same terms as loans provided by chairman Dave King and the Three Bears consortium.

If approved, the loan would have been converted to shares at a future date which some say will strengthen Rangers First's hand and give supporters a greater say in the running of their club.

The resolution required 75% approval to be passed.

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RF told its members when announcing the loan plan and the vote: "Your board has had much discussion and debate regarding this and believes that this may be one of the best ways for Rangers First to help the club continue to rebuild, develop and expand.

"This is a key issue on which RF asks its members to decide, we are therefore asking members to approve... making a loan of half a million pounds to Rangers International Football Club PLC.

what a disgrace.
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Phil really has done a number on you eh.

The truth is out there, phone the land registry, quote the title number and the discharge reference number....or if you prefer to believe someone else, read Phil`s blog and click on the donate now button and enjoy a few more days of blissful ignorance.

MA still owns the badge....An IPO spokesman said: "The owner of the UK-specific trademarks of Rangers are still owned SportsDirect.com Retail Ltd. There is no information that this is likely to change at present."

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BDO back at the court of Session in February to appeal on Rangers shareholder's behalf. Let's hope those people who lost out through the club's liquidation can finally see an end to this comedy. I am starting to feel sorry for them.

I am beginning to believe that the only way Rangers' shareholders will see a return on the investment they made when they bought into the club is if the procurator fiscal is correct and Rangers end up having any assets which were, if the Courts find this to be the case, fraudulently taken from the club so as to create a new club.

http://www.dailyrecord.co.uk/sport/football/football-news/new-aberdeen-keeper-adam-collin-7183663

Edited by stonedsailor
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