HamCam Posted February 13, 2012 Share Posted February 13, 2012 Even if they achieve agreement on a CVA before the end of March does anyone know if Rangers require to lodge the outstanding accounts ? If so no chance this will happen as the accounts can only highlight where the money has gone and highlights Quiff as an asset stripping chancer. Link to comment Share on other sites More sharing options...
para Posted February 13, 2012 Share Posted February 13, 2012 a few observations Ha Ha Ha 1 Buying the club with the clubs money - where did we hear that one 2 Whatever happened to the suggestion that to be a director you had to be fit and proper 3 Will it be Tescos or Morrisons on the Ibrox turf 4 Will there be a debate in the Scottish parliment (you bet there will be) and finally Ha Ha Ha Link to comment Share on other sites More sharing options...
Flyerton Posted February 13, 2012 Share Posted February 13, 2012 a few observations Ha Ha Ha 1 Buying the club with the clubs money - where did we hear that one 2 Whatever happened to the suggestion that to be a director you had to be fit and proper 3 Will it be Tescos or Morrisons on the Ibrox turf 4 Will there be a debate in the Scottish parliment (you bet there will be) and finally Ha Ha Ha Other possibility - a billionaire oil tycoon from the Middle East hears about Rangers' plight and buys the club / bails them out? What are the chances of that happening? Link to comment Share on other sites More sharing options...
IainMorton Posted February 13, 2012 Share Posted February 13, 2012 Other possibility - a billionaire oil tycoon from the Middle East hears about Rangers' plight and buys the club / bails them out? What are the chances of that happening? A better chance of one buying Morton TBH... Link to comment Share on other sites More sharing options...
axeman Posted February 13, 2012 Share Posted February 13, 2012 Gutted at the news Allan McGraw ????? I'd love to have you both for dinner Link to comment Share on other sites More sharing options...
The Bewilderedbeast Posted February 13, 2012 Share Posted February 13, 2012 I was HA HA HA HA I Was going HA HA HA HA HA HA to reply HA HA HA HA HA to reply to this HA HA HA HA HA thread, but HA HA HA HA HA I'm still HA HA HA HA HA HA pishing myself laugh HA HA HA. HA HA laughing. One down one to go Link to comment Share on other sites More sharing options...
partickthistlelad Posted February 13, 2012 Share Posted February 13, 2012 Yes it will have a knock on affect to every club in the league but it takes something like this for clubs to wake up and smell the coffee. All the clubs mentioned with perhaps the exception of Clydebank and us to a lesser extent ware clubs trying to be what they weren’t Rangers it scammed 9 in a row Dundee x2 built an stadium and a team they couldn’t sustain Same with Livingston more so as they are a “new†team Gretna nuff seed Motherwell spent what they couldn’t adored Justice will not be done as the Seth preservation society will do all in their power to keep them as has been seed before turkeys don’t vote for Christmas. Will it be good for Scotish football if the thing we all want to happen happens probably not It will still not be a level playing ground we will just have the big one left All the buses that levee Greenock every other Saturday will not be turning up at Morton You do not gain new supporters for other clubs if a club go’s under you just lose all the supporters to the game . How many Gretna fans now go to Queens Third Lanark werent Hiddelston got rid of their top players, pocketed loads of cash and ran the club deliberately down to sell the ground for housing - that was not the club trying to something they werent but this crook Hiddelston trying to destroy a proud club Link to comment Share on other sites More sharing options...
SmithsTON Posted February 13, 2012 Share Posted February 13, 2012 Rangers' very existence has affected most other clubs for decades. They have siphoned off money from the game and basically crushed everyone else economically. Maybe their supporters won't go elsewhere if they cease to exist but if even a few do, that's money going into local clubs that don't get that money now. What's more, the next generation of supporters won't be drawn to at least that half of the dark side. Rangers don't do anything that benefits Morton or any other SFL side, and they do precious little to benefit most SPL sides - the other half of the bigot brothers excepted of course. I have no sympathy for them. Agreed. No one that supports a team outside of the Ugly Sisters will shed any tears over this. Rangers basically cheated their way to equalling Celtic's 9-in-a-row. Of course the media, whose pundits are for the most part ex-OF players, will be distraught. Typical of their p*ish was all the 'poor Ally' crap that we've heard for weeks now then Rangers go out and pay a 35-year-old £7500 a week which is probably more than many SFL Clubs pay out in a month. Unfortunately, Rangers will eventually rise phoenix-like from the ashes although they will never be the force they were - especially in Europe. I feel a tear coming. Link to comment Share on other sites More sharing options...
TRVMP Posted February 13, 2012 Share Posted February 13, 2012 Third Lanark werent Hiddelston got rid of their top players, pocketed loads of cash and ran the club deliberately down to sell the ground for housing - that was not the club trying to something they werent but this crook Hiddelston trying to destroy a proud club And the irony - great in one way (because he lost out) and terrible in another (because it showed how unnecessary the whole thing was) - is that Cathkin Park is still there today and most of it's undeveloped. Link to comment Share on other sites More sharing options...
BishyTON Posted February 13, 2012 Share Posted February 13, 2012 Craig Whyte has made money by manipulating the insolvency rules as a career, I agree. There is no question of the big tax debt not counting in all of this simply because the tribunal has not yet ruled. HMRC already say they are owed the money but Rangers have disputed it. Whether to continue disputing it will now fall to the administrator to decide and it is unlikely he will. HMRC will lodge a claim with the administrator for the full amount. A likelier manipulation scenario is that a Whyte company temporarily borrowed the money to repay LLoyds and that money has now, in turn, been repaid to Whyte's company by mortgaging the season ticket income. In effect he used Rangers own money to buy the club. Finally, for a CVA to work, creditors have to agree to go along with it and I would guess that means the decision is down to HMRC and Ticketus, the mob who advanced the season ticket money. Between them they are owed £80-90m. HMRC will not agree to anything if there is provision that the football debt has to be paid in full. If the football debt is not paid in full, in theory, Rangers lose their league membership although if push comes to shove, they will probably change the rules for them. I see they have used an English firm of insolvency practitioners which probably just as well for the IP's health. It does mean astronomical fees with the administrator himself having a charge out rate probably in excess of £650 per hour. I would be astonished if Ticketus don't have a floating charge over the clubs assets. If they don't then they are clearly mad! From what I have heard, HMRC are going to agree to the CVA, but obviously it will not go ahead if they do not (assuming they win the tax case). This is a major change from their previous policy. I suppose that even if they do agree to it, there is a chance Ticketus won't (if they are indeed only an unsecured creditor). Either way, this will be an interesting saga to watch! Re your last paragraph - you are probably right, but if they make a mess of it then they will still have to watch their backs I think! Mon the Ton Link to comment Share on other sites More sharing options...
Tonsilitis Posted February 14, 2012 Share Posted February 14, 2012 I would be astonished if Ticketus don't have a floating charge over the clubs assets. If they don't then they are clearly mad! From what I have heard, HMRC are going to agree to the CVA, but obviously it will not go ahead if they do not (assuming they win the tax case). This is a major change from their previous policy. I suppose that even if they do agree to it, there is a chance Ticketus won't (if they are indeed only an unsecured creditor). Either way, this will be an interesting saga to watch! Re your last paragraph - you are probably right, but if they make a mess of it then they will still have to watch their backs I think! You may well be right as I have no idea how they could get any form of assignation of debts that do not exist at present i.e. the next couple of year's ST sales. If there is a floating charge, I wonder why Rangers did not simply ask the holder to appoint an administrator? Maybe they did and Ticketus declined? It may well put the cat amongst the pigeons if there is only the prescribed part available for general creditors. Link to comment Share on other sites More sharing options...
BluebirdTon Posted February 14, 2012 Share Posted February 14, 2012 I hope this happens to Celtic at some point, half of my pals will be greetin' . Trying to have a civilized debate with them on facebook is seriously brain frying. It's not so much the club I hope dies, it's the fans. The Ton Survived & Your Pipe Dream Died 18th September 2014 Link to comment Share on other sites More sharing options...
Dougie Posted February 14, 2012 Share Posted February 14, 2012 It's not so much the club I hope dies, it's the fans. Ah the hurt, ****ing brilliant, keep it up. I can see me dying this year. Between Thatcher, Rangers, Hearts and Ian Paisley, I can see me overdosing............ on Jelly and Ice Cream! Link to comment Share on other sites More sharing options...
Alibi Posted February 14, 2012 Share Posted February 14, 2012 Away and greet to someone who cares. You'd be welcome with the other suicidal zoomers on Rangers Media. F*ck Rangers. They've never done anything for us and we'll laugh all the way to their grave and then do the ****in conga over it. You won't be able to conga across the grave as it will be flooded. With urine. "Any nation given the opportunity to regain its national sovereignty and which then rejects it is so far beneath contempt that it is hard to put words to it." Link to comment Share on other sites More sharing options...
Rasta Ton Posted February 14, 2012 Share Posted February 14, 2012 I would be astonished if Ticketus don't have a floating charge over the clubs assets. If they don't then they are clearly mad! From what I have heard, HMRC are going to agree to the CVA, but obviously it will not go ahead if they do not (assuming they win the tax case). This is a major change from their previous policy. I suppose that even if they do agree to it, there is a chance Ticketus won't (if they are indeed only an unsecured creditor). Either way, this will be an interesting saga to watch! Re your last paragraph - you are probably right, but if they make a mess of it then they will still have to watch their backs I think! Craig Whyte through his own companies has a floating charge against Rangers' assets. I think I'm right in saying you only need a certain percentage of creditors to accept so many pence in the pound to form a CVA and I'd heard that Whyte was out and about seeking such an agreement without HMRC. A bluff if you like giving HMRC the pre-administration period to agree a deal. Whether HMRc have the appetite to strike a deal is another matter. Question is: would you throw a fiver in a bucket for them? I know I wouldn't. FIRST DIVISION RUNNERS UP 2012/13 Hey Man - Enough of your Stupidness Link to comment Share on other sites More sharing options...
Alibi Posted February 14, 2012 Share Posted February 14, 2012 By the way, when Rangers United make their football debut, I assume it will be to take the place of Portsmouth. Well, they did say they wanted to move to England... "Any nation given the opportunity to regain its national sovereignty and which then rejects it is so far beneath contempt that it is hard to put words to it." Link to comment Share on other sites More sharing options...
partickthistlelad Posted February 14, 2012 Share Posted February 14, 2012 And the irony - great in one way (because he lost out) and terrible in another (because it showed how unnecessary the whole thing was) - is that Cathkin Park is still there today and most of it's undeveloped. It would be great then if these guys get it back and the ultimate payback on Hiddelston http://www.third-lanark.co.uk/ Link to comment Share on other sites More sharing options...
Toby Posted February 14, 2012 Share Posted February 14, 2012 It would be great then if these guys get it back and the ultimate payback on Hiddelston http://www.third-lanark.co.uk/ It really wouldn't be though. He's probably dead by now so wouldn't affect him in any way,shape or form. Link to comment Share on other sites More sharing options...
Bryan Posted February 14, 2012 Share Posted February 14, 2012 http://m.stv.tv/news/scotland/west-central...administration/ Wonder who will win that one "Boy, I got vision, and the rest of the world wears bifocals." Link to comment Share on other sites More sharing options...
Alibi Posted February 14, 2012 Share Posted February 14, 2012 One for Tonsilitis maybe, but why have Rangers not appointed a Scottish administrator? "Any nation given the opportunity to regain its national sovereignty and which then rejects it is so far beneath contempt that it is hard to put words to it." Link to comment Share on other sites More sharing options...
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