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Big Rangers Administration/Liquidation Thread - All chat here!


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It's Thursday. Deadlines for final, final, final, final, final best and final offers were over a week ago. Have Haudit and Daudit the dynamic administration duo announced anything yet? Have any of the bidders made it through to bootcamp, and who will get Simon Cowell as their mentor....

Zzzzzzzz.... the. worst. administration. ever.

They've announced they've added another quarter million to their bill.

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The report to creditors from D&P states they have had them valued independently. I'm only taking that figure at face value as they are officers of the court and have officially published a valuation by an independant professional company.

My valuation would be a lot less but irrelevant!

We all know you can get a valuation to be whatever you ask for. (In fact if D&P contact me I can give them a valuation of £2000million, in writing). I am assuming you won't be allowed to knock Ibrox down (just checked, the facade is listed, so immediately that knocks a good percentage of any valuation. )

From wikipedia

"Alongside changes to the stadium itself, Rangers have also sought to develop land around Ibrox. In partnership with the Las Vegas Sands corporation, the club received outline planning permission from Glasgow City Council for the development of land adjoining Ibrox as the home of a super casino. The casino was planned to be accompanied by a Rangers-themed leisure complex.( I can't begin to imagine what this would look like). Britain's Casino Advisory Panel reviewed bids from eight short-listed cities, including Glasgow, and in 2007 awarded the first license to Manchester. There is no immediate prospect of the Ibrox proposal being resurrected, as Gordon Brown dropped the plans for super casinos soon after becoming Prime Minister. Rangers were given approval by Glasgow City Council in October 2008 to purchase land around Ibrox and redevelop the area with hotel and retail outlets. This scheme stalled, however, as regulations constrained what could be built in the area."

So hardly a big development opportunity for anyone, so its worth as something which can only be used for football is????? As Paul Daniels says "Not a lot".

(I meant to say £200 million, but why not £2,000million if that helps the case. )

Edited by thelegendthatis
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It's not the value of the assets I was getting at, I was speculating D&P would have to compare the value of a CVA against the OFFICIAL valuation they put forward when recommending the best deal for creditors!

We don't know what that valuation is though.

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The Sheep are having a party,

The Sheep are having a party,

The Sheep are having a paaaaaaaaaaaaaaaaaaarty....

The Gers are going bust! :D

danceurfun.gif

Edit: I realise ^^that's immature but I don't care, the pre-match Friday feeling has kicked in already!

I think it's good. If you are really aiming for immaturity you need to look at Rangers Media and see how high (low?) the bar has been set. ;)

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Chic Young, please just stop! Surely to f**k he knows by now nobody believes his incessant drivel?

Jim Spence- eh eh eh chick chick chick tell tell tell me this

Chick - eh eh eh eh eh civil war blah blah

Jim Spence - eh wh wh wh what do you eh mean

Jim Traynor - eh eh eh

what the fck is this shite?

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Chick Young is a lying delusional sycophantic arse licking useless waste of oxygen. His only reason for being on earth is for the rest of us to laugh at the pathetic creature

Let's face it, anyone who goes by the name of "Chick" has to be either a comic genius or a cvnt. Chic Murray was one of these and Chick Young is the other. No prizes for guessing who is/was what. :D

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Apologies if already posted, but here's the latest from the RST - clearly unhappy that RangersMedia are upping their game in regards to sheer stupidity.

The board of the Rangers Supporters Trust, like other fans of the club, are not in the least surprised by the actions and timing of the SPL decision to vote on rule changes which has now further delayed a future takeover of Rangers.

Given the severity of the possible sanctions, and their impact on any club who may also fall on hard times through mismanagement, it leaves us little option to give serious consideration of calling for a boycott of away fixtures by Rangers fans next season; specifically targeting those clubs who have rushed through the proposals to punish our club with these excessive and draconian penalties.

We will discuss this in the near future with our sister organisations the Rangers Supporters Association and Assembly to maximise impact and collate ideas on how a boycott could be facilitated if deemed necessary. There appears to be a change in attitude within our support and a unified determination not seen before as we again see another attempt to persecute our club whilst we are at our most vulnerable.

It may also be important to consider how these severe penalties, currently aimed at one club in particular, will impact future league and club sponsorship and have a secondary impact on all clubs reducing the stature of Scottish football as a whole. With this in mind we will contact several of the main sponsors to seek their thoughts on how these sanctions would affect their level of investment given the obvious inevitable decreasing level of competitiveness in the SPL in future.

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Apologies if already posted, but here's the latest from the RST - clearly unhappy that RangersMedia are upping their game in regards to sheer stupidity.

Posted it on the SPL resolutions thread, the Celtic one is almost exactly the same.

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not sure about you guys out there, but I've written to Pete Wishart, MP, Fat Salmond, no.10 and every bleedin newspaper I could think of on this subject, and as yet, have still to receive a solitary response. Just about sums it up, eh ??

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From RM

"Let's boycott not just next seasons away games but for season's to come until some 'olive branch' is offered to us. However, I suspect that we will wait a long time, because many of these clubs bear a hatred for us that far outweighs any wrong we have ever done them."

Deluded and yet lucid at the same time. Anger the Govan Blue Bear at your peril as it will bite off your head tear you apart limb from limb boycott you.:blink:

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Any Portland in a storm

I posted earlier about Rangers joining the MLS. There are millions of bears over here in Canada and America, we can stand at games if we want, we get served beer at games, WE CAN SING WHATEVER WE WANT OVER HERE, the money for winning is a hellova lot more than the mickey mouse SPL, we would win every year, and best of all there is no green and white paranoid paedophilia scum in the MLS

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I am no expert on the business side of things(or anything else before Henricks tongue adds it) but found this on Follow Follow...I would like others views on this guys take on this whole sorry business...

DUFF & PHELPS

D&P have acted oddly throughout the administration process,

- Why try to renegotiate the players contracts instead of cut and burn like all other administrators? Was it really to retain value in the business? Or was it to get the maximum sale price in the event of liquidation?

- Why over value the clubs assets at £126m? Is Murray Park and Ibrox really worth £105m?

- Why under value the players at £20m or so?, is it because they are the assets we lose in the event of liquidation?

- Why did D&P include the 'worst case scenario' for all potential creditors (£97m for HMRC), but omit any mention of Craig Whyte?

- Why spend time trying to annul the ticketsus contract?, was it really to enhance the sale price of the business? Or was it to cement Craig Whyte's floating liability, and therefore preferred creditor status?

- Why at the trial did the judge feel the need to remind D&P they had to act in the interests of all the creditors (inc ticketus)? Did the judge feel that they were acting in the interests other creditors (CW?)

- Why have D&P not tried to remove Craig Whyte's shares from him (when you know he is the source of the problem)?

- Why have D&P not stuck with sorting out the accounts and running of the club, and handed over the tender exercise to someone else, someone cheaper?

- Why have D&P almost always failed to meet their own deadlines, throughout this process, are they trying to take everything to the wire?, if so, why?

I firmly believe we have been robbed by Craig Whyte, but in the weeks to come we will find out he has been aided and abetted by the people who were meant to sort the situation out.

Whoever your source at Follow Follow is, that is an excellent piece and does illustrate what has been a nagging voice in many minds in both the Orcs and the "Singing Die Die Rangers Rangers Die" camps alike - that Duff and Phelps have NOT been acting in the correct manner of an administrator to secure the business or reimbursement of the creditors, and instead are acting on the behalf of Whyte.

I've a feeling that the whole talk about taking shares from Whyte was smokescreening for the more gullible fans (they can't do it, and well they know it. So for that mind does the Scottish press know it).

If true, and if it can be proven that Duff and Phelps have not been acting with due diligence or "In Good Faith" in their appointed duty by the courts, can criminal charges be pressed?

The rules on a company in administration appear quite clear in this regard according to Schedule B1 of the Insolvency Act :

"The administrator must perform their functions with the objective of rescuing the company as a going concern or, failing that, achieving a better result for the company’s creditors as a whole than would be likely if it were wound up."

Can anyone honestly say that Duff & Phelps have shown the remotest signs of doing that, rather than merely playing for time?

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