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Big Rangers Administration/Liquidation Thread - All chat here!


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  • 4 weeks later...
Another £23.5m loss.
Rangers reveal £23.5m operating loss as Covid hits revenues - BBC Sport
How much does that make the cumulative losses since the club was formed in 2012? Yet the SFA thinks it's all OK and have no plans for any financial fair play rules to be implemented.

The gift that keeps on giving.

Inclusive of a £5m repayment to old googley eyes, +£800k interest. Nothing #glibandshameless there. Where else can you get such return on your family savings nowadays?


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Former Rangers chairman Dave King cites "inaccurate" information in the club's most recent accounts, saying a £5m loan was incorrectly attributed to him rather than a business within his family trust structure. (Sun)

This is interesting. of course in SA Dave has no money. so how could he give a loan. And a business in his trust structure. He's supposed to have no control over that.  Nothing to see for Rangers but there is for King. Especially If the interest on the loan was payed to King and not  (checks notes) a business within his family trust structure. 

Also if Rangers accounts are wrong. that's a bit worrying. 

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4 minutes ago, Insaintee said:

Former Rangers chairman Dave King cites "inaccurate" information in the club's most recent accounts, saying a £5m loan was incorrectly attributed to him rather than a business within his family trust structure. (Sun)

This is interesting. of course in SA Dave has no money. so how could he give a loan. And a business in his trust structure. He's supposed to have no control over that.  Nothing to see for Rangers but there is for King. Especially If the interest on the loan was payed to King and not  (checks notes) a business within his family trust structure. 

Also if Rangers accounts are wrong. that's a bit worrying. 

Elsewhere he said that some of the board wanted to offer Ibrox as security on loans.

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On 15/11/2021 at 15:15, steelmen said:

i really don't want to charge 16% interest... but they say i must.... here's my bank details, just round it down to the £830k

 

wonder if dodgy dave has been lying to the SA tax authorities again

I really can't see how the authorities can force a trust to charge interest.  Dave being Dave.

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  • 3 weeks later...
On 10/11/2021 at 11:01, Insaintee said:

Former Rangers chairman Dave King cites "inaccurate" information in the club's most recent accounts, saying a £5m loan was incorrectly attributed to him rather than a business within his family trust structure. (Sun)

This is interesting. of course in SA Dave has no money. so how could he give a loan. And a business in his trust structure. He's supposed to have no control over that.  Nothing to see for Rangers but there is for King. Especially If the interest on the loan was payed to King and not  (checks notes) a business within his family trust structure. 

Also if Rangers accounts are wrong. that's a bit worrying. 

For whom?

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  • 2 weeks later...
  • 3 weeks later...

Lord Tyre's opinion in the David Grier v the Lord Advocate and Police Scotland case, published today.

https://www.scotcourts.gov.uk/docs/default-source/cos-general-docs/pdf-docs-for-opinions/2022csoh02.pdf?sfvrsn=d620d954_1

Have a wee search through the document, when referring to Rangers there is no mention of a holding company, they are cited throughout as a "club".

Where did that holding company story originate from, anyone know?

 

 

 

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15 hours ago, Dundee Hibernian said:

Lord Tyre's opinion in the David Grier v the Lord Advocate and Police Scotland case, published today.

https://www.scotcourts.gov.uk/docs/default-source/cos-general-docs/pdf-docs-for-opinions/2022csoh02.pdf?sfvrsn=d620d954_1

Have a wee search through the document, when referring to Rangers there is no mention of a holding company, they are cited throughout as a "club".

Where did that holding company story originate from, anyone know?

 

 

 

https://www.investopedia.com/terms/h/holdingcompany.asp

Not sure of the origins, but the lie was born of necessity.

The myth that only Rangers' holding company died back in 2012 was one of many pathetically amateurish, transparent, but ultimately futile attempts to pretend that a football club didn't die the death of liquidation. If anything, Wavetower, the company that Craig Whyte used to purchase Rangers from David Murray, came closest to fitting the description of Rangers' holding company, but of course it wasn't that entity that entered administration followed by liquidation, nor was it Murray International Metals. That dishonour fell to Rangers Football Club plc (subsequently renamed RFC 2012 in yet another amateurish, transparent and futile attempt to mislead).

Yet many purveyors of fiction still trot out the holding company lie to this day, along with other fabrications such as relegation to the 4th tier. 

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