Rasta Ton Posted February 14, 2012 Share Posted February 14, 2012 http://m.stv.tv/news/scotland/west-central...administration/ Wonder who will win that one A clever move by the taxman. This way Craig Whyte won't be able to appoint an administrator who'll effectively lean towards his interests and any administrator appointed by HMRC would be on their terms rather than Whyte's. The return serve if you like. FIRST DIVISION RUNNERS UP 2012/13 Hey Man - Enough of your Stupidness Link to comment Share on other sites More sharing options...
Rhubarb Mess Posted February 14, 2012 Share Posted February 14, 2012 Morons , not a bit of sense in yer thick skulls, at time I'm convinced u r actually a buch oh paisley basturdz on the wind up,have yea's got a da I am very tempted to take up a faith, drop to my knees and pray with all my might that one half of the scumbag twins dies a rapid death. I don't think it will come to that but one can dream!! We are a MEAN diddy team!!! SITTING ON THE FENCE!!! m1874 Blog<<<..V..>>>Ernies Blog GMST make your own mind up. "Hey!!! That tea leaf half-inched me wallet" Yours Roobs, AKA, Harry's Orville Duck Link to comment Share on other sites More sharing options...
El gofer Posted February 14, 2012 Share Posted February 14, 2012 i am inclined to agree that scottish football will suffer if rangers go bust, but this doesnt take away from the fact that they have whats coming to them. They have being cheating for years and are now banged to rights. For them to get off virtually scotfree, new company in the spl debt free, means any shred of integrity or decency our game had goes up the swanny. Its obvious that both whyte and hmrc have game plans for this eventuality. Likening it to a game over brinkmanship is entirely accurate. As surpised how few fans there were outside ibrox last night. I reckon its cos no one commissioned a banner...... 20.1.09 Link to comment Share on other sites More sharing options...
pedro.mcghee Posted February 14, 2012 Share Posted February 14, 2012 thanks lol I am dyslexic and I am getting tired of your shirt Link to comment Share on other sites More sharing options...
theoceanfloor Posted February 14, 2012 Share Posted February 14, 2012 Rangers have told the Court of Session that they will go into administration today, IF they can appoint their own administrator! Link to comment Share on other sites More sharing options...
GiGi Posted February 14, 2012 Share Posted February 14, 2012 http://m.stv.tv/news/scotland/west-central...administration/ Wonder who will win that one A clever move by the taxman. This way Craig Whyte won't be able to appoint an administrator who'll effectively lean towards his interests and any administrator appointed by HMRC would be on their terms rather than Whyte's. The return serve if you like. Rangers bringing in their own administrator. Peter Weatherson is the greatest player since Ritchie, and should be assigned 'chairman for life' Link to comment Share on other sites More sharing options...
BishyTON Posted February 14, 2012 Share Posted February 14, 2012 According to STV's website, Rangers have until 3.30pm to appoint an administrator, or else they will rule on the petition from HMRC. Mon the Ton Link to comment Share on other sites More sharing options...
GiGi Posted February 14, 2012 Share Posted February 14, 2012 From the Sun (ha): Q What if they fail to reach an agreement? A If a deal cannot be agreed, the company will be dissolved and the club will cease to exist. But the insolvent company can create a "phoenix" club and attempt to transfer every part of the club to a new business, leaving behind the debt. That's a practice that has to be outlawed. Blatant cheating of millions of pounds of debt if they eventually resort to it. Peter Weatherson is the greatest player since Ritchie, and should be assigned 'chairman for life' Link to comment Share on other sites More sharing options...
theoceanfloor Posted February 14, 2012 Share Posted February 14, 2012 Rangers have appointed their own administrators according to SSN Link to comment Share on other sites More sharing options...
Stevie Aitken's Love Child Posted February 14, 2012 Share Posted February 14, 2012 Rangers have appointed their own administrators according to SSN Yep, was just on the radio 2 news there. They've obviously shat it and got their administrator in straight away. Just goes to show really that they've been planning this for a while, which makes the signing of Daniel Cousin on a reported £7,500 per week contract just last week look even more ridiculous. Link to comment Share on other sites More sharing options...
Queen of Sheba Posted February 14, 2012 Share Posted February 14, 2012 They have been docked 10 points and cant sign any new players. Isn't it a lovely day..... Link to comment Share on other sites More sharing options...
GiGi Posted February 14, 2012 Share Posted February 14, 2012 They're going to get away with it either way and they'll probably still be in the SPL next season even if they go bust. The rest of the SPL should tell them to f*ck off or start again at the bottom of the 3rd division (after competing with Spartans, Auchinleck Talbot for their place of course) if they want back in. Peter Weatherson is the greatest player since Ritchie, and should be assigned 'chairman for life' Link to comment Share on other sites More sharing options...
Tonsilitis Posted February 14, 2012 Share Posted February 14, 2012 From the Sun (ha): Q What if they fail to reach an agreement? A If a deal cannot be agreed, the company will be dissolved and the club will cease to exist. But the insolvent company can create a "phoenix" club and attempt to transfer every part of the club to a new business, leaving behind the debt. That's a practice that has to be outlawed. Blatant cheating of millions of pounds of debt if they eventually resort to it. I can see where you are coming from but administration is about rescuing something from a failed company and one way of doing it is for there to be a new company into which the assets are transferred, leaving the debts behind in the old company. The assets though, have to be paid for by NewCo at a fair value, they are not given away. That means the creditors should in theory be no worse off. In practice in this size of case, huge professional fees eat up a lot of creditor money. The point of a company voluntary arrangement is to have the creditors accept that they can't get all their money and accept so much in the pound broadly equivalent to what the assets would realise if sold usually plus a wee sweetener out of future earnings. That avoids needing a NewCo and therefore any arguments about league membership passing to NewCo. Generally this issue is why the transfer of assets route (called a hive down in trade parlance) is not used in football insolvencies. As for HMRC trying to appoint their own man, I think that was tactical as they don't know the English firm Rangers are using and maybe don't trust the relationship. Effectively it puts down a marker for the administrator to let him know they will be watching what goes on closely. PS Its seems that the administrators being used by Rangers have quite a lot of "previous" with Whyte and have handled appointments from him before. They better play this one straight as it will be scrutinised like no other job they have done! Link to comment Share on other sites More sharing options...
EanieMeany Posted February 14, 2012 Share Posted February 14, 2012 My main hope in all this is that the people saying Celtic can't survive without Rangers are spot on. If we can get past the myopic, next-pay-day approach that is prevailent in Scottish football, the disbanding of both Old Firm clubs would be the best thing that could happen to Scotland. AWMSC Link to comment Share on other sites More sharing options...
Rhubarb Mess Posted February 14, 2012 Share Posted February 14, 2012 My main hope in all this is that the people saying Celtic can't survive without Rangers are spot on. If we can get past the myopic, next-pay-day approach that is prevailent in Scottish football, the disbanding of both Old Firm clubs would be the best thing that could happen to Scotland. Nothing would emerge in the short term, indeed the Septic support may even grow more (the Sky Sports plastics etc) off the back of Rangers demise (if this gets even close to that) but in time without the ugly brother from across the city that support could well begin to drop unless they managed to somehow get themselves into the English leagues. Septic may never go out of business but they will certainly be less of a club with the other bigots. The smart Septic fans in work see this pretty clearly, while the ones laughing can't see beyond the end of their noses. We are a MEAN diddy team!!! SITTING ON THE FENCE!!! m1874 Blog<<<..V..>>>Ernies Blog GMST make your own mind up. "Hey!!! That tea leaf half-inched me wallet" Yours Roobs, AKA, Harry's Orville Duck Link to comment Share on other sites More sharing options...
Tonsilitis Posted February 14, 2012 Share Posted February 14, 2012 Nothing would emerge in the short term, indeed the Septic support may even grow more (the Sky Sports plastics etc) off the back of Rangers demise (if this gets even close to that) but in time without the ugly brother from across the city that support could well begin to drop unless they managed to somehow get themselves into the English leagues. Septic may never go out of business but they will certainly be less of a club with the other bigots. The smart Septic fans in work see this pretty clearly, while the ones laughing can't see beyond the end of their noses. Celtic fill Parkhead most weeks whether they are playing Rangers or St Mirren. If there is one thing worse than a league that only two teams can win, its one where one team is guaranteed to win every time. Even Celtic fans will get bored with that and Sky will have no interest whatsoever. With no TV money, the SPl will be in the same position as the rest of us and maybe there will be a bit of a levelling in Scottish football where clubs have to survive on gate money again. I can't see Rangers disappearing though. They'll be back in some shape or form. Link to comment Share on other sites More sharing options...
chrissiboi Posted February 14, 2012 Share Posted February 14, 2012 I wonder what this and the 10 point deduction will do for ESPN and Sky subscriptions ? Link to comment Share on other sites More sharing options...
Toby Posted February 14, 2012 Share Posted February 14, 2012 I wonder what this and the 10 point deduction will do for ESPN and Sky subscriptions ? Minimal given that they'll be relying more on the leagues than the SPL. If it had that great an impact on subscriptions then the SPL would be able to command a far more lucrative deal than is currently the case. Link to comment Share on other sites More sharing options...
Flyerton Posted February 14, 2012 Share Posted February 14, 2012 Things moved fast today (Rangers going into administration) following an unsuccessful legal bid by HMRC at the Court of Session to appoint its own administrator. That's when Rangers stepped in with their own administrator, London firm Duff and Phelps. Obviously the worse case scenario for Rangers is liquidation, but I think that might not happen some how. Link to comment Share on other sites More sharing options...
Flyerton Posted February 14, 2012 Share Posted February 14, 2012 Points deduction now updated here (select from drop down box) http://www.bbc.co.uk/sport/football/tables Celtic on 65, Rangers 51 and Motherwell 42. Motherwell have a game in hand over Rangers and that gap could therefore close to 6 points between 2nd and 3rd. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.