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Big Rangers Administration/Liquidation Thread - All chat here!


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Haven't been on since the embargo was lifted and I'm sure it's been said by pretty much everyone but I'll just say it again by saying that it was an absolute disgrace and embarrassment. Hopefully it'll be meaningless since they hopefully won't be a club anymore anyway.

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Sorry, fatass finger+cheapass tablet=red dot instead of green, I owe you two greenies but have run out. You can take 14 days to decide if you'll accept 0.18 but you will also have the statutory cooling off period should you accept.

Having carefully reviewed your offer and the attached conditions I have decided to instead apply for wind-up order on the basis that your offer was clearly a misrepresentation of the true state of your fingers and the associated media bias that comes from the tablet press wink.gif

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No, he's contracted with D&P to buy at a pre-agreed price but the contract is conditional on certain things happening. If the conditions are met then both parties are contractually obliged to go ahead with the deal. If the conditions are not met (for example, Rangers get punted out the league) then the deal is off and D&P have to look for another buyer. It's like me agreeing to buy your house on condition that you have good title to sell etc. If you do then I have to complete the purchase, if not I can walk away.

An alternative angle posted on RTC

It is worth noting that IT DOES NOT say that D&P are contractually obliged to sell.

If it did, they would IMO be in breach of the second & third statutory purposes of administration.

Under the 1st purpose, they can (just about) get away with what they have done so far. As long as a CVA is part of the plan, they can continue the pretence that they are working towards keeping the company as a going concern. Under the 1st purpose, the administrators have no duty to get the best return for creditors.

When it is clear that the club/company cannot be saved, the creditors MUST seek to get the best result for the creditors.

The deal with Sevco gives them a starting point – but, if they have contractually bound themselves to this cut-price deal, they will have to explain to a judge how this is in the creditors best interest. It would be a difficult case to make.

I have posted before, that I believe a purchase & leaseback deal is likely to provide a new owner of Ibrox/MP/Albion with a medium-term return of at least £2m – £3m per year. But, of course, no serious bidder would come forth until the Ticketus situation is resolved.

As long as a CVA is on the table (and as I keep saying the Ticketus contract is not dead) all prospective investors have been deterred.

*Before the usual gang respond by saying that the admins terminated the contract, read Lord Hodge’s judgement and read the CVA statement.

It is only upon liquidation that the Ticketus liabilities will be released and the true market value for the companies assets will be available.

£5.5m will not cover D&P’s fees – never mind the fixed and floating charge holders.

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I am very conscious that there are new people reading this thread all the time and others who are struggling to catch up. For their benefit here are a few pointers that may help:

Haudit & Daudit = Duff & Phelps

Cockwomble = Neil Doncaster

Charles Green = Craig Whyte II

SPL Chairmen = Spineless b*****ds (may be odd exception yet)

Rangers = Totally fucked

Hope this helps. :)

For the avoidance of doubt, Duff and Phelps have also gone by the following names:

The Chuckle Brothers, Diouf and Defer, Defer and Procrastinate, Duff and Duffer, the Duffs, those lying Cockney b*****ds.

Is Pozbaird on holiday? What a time to go away.....

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I miss Pozbaird.

clear.gif

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candlelight921631_73681956.jpg

Don't worry, he's safe and well and sitting by a pool somewhere stateside sipping a cold beer and receiving the occasional Big Rangers Administration Thread-related text so he doesn't feel left out ;)

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Wouldn't it be great if Sir (for the time being anyway) David Murray bought the club back off Green for £3 and we could go round again.

BTW - Well done again Stuart Gilmour (this ain't his first time he's stood up to a tyrant !)

Never really listened to anything Gilmour has said in the past,but he did look as if he was about to blow a gasket!

Fair play to the guy,no doubt the bears will be boycotting away days at paisley next season,maybe get a couple of

games against us at st.mirren park to cover the loss of any boycotts... :lol:

Well done Mr Gilmour,hopefully the rest of the spl chairmen have the baws they were born with and don't sell their

souls for 30 pieces of silver.....

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Having carefully reviewed your offer and the attached conditions I have decided to instead apply for wind-up order on the basis that your offer was clearly a misrepresentation of the true state of your fingers and the associated media bias that comes from the tablet press wink.gif

Now I owe you three. :)

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I am very conscious that there are new people reading this thread all the time and others who are struggling to catch up. For their benefit here are a few pointers that may help:

Haudit & Daudit = Duff & Phelps

Cockwomble = Neil Doncaster

Charles Green = Craig Whyte II

SPL Chairmen = Spineless b*****ds (may be odd exception yet)

Rangers = Totally fucked

Hope this helps. :)

You missed -

Green bigot supporters are not the friends of diddies no matter how much they try and snuggle up.

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Never really listened to anything Gilmour has said in the past,but he did look as if he was about to blow a gasket!

Fair play to the guy,no doubt the bears will be boycotting away days at paisley next season,maybe get a couple of

games against us at st.mirren park to cover the loss of any boycotts... :lol:

Well done Mr Gilmour,hopefully the rest of the spl chairmen have the baws they were born with and don't sell their

souls for 30 pieces of silver.....

TBH, I'm not sure if Gilmour's outburst reflects his overall position on the newco scenario etc., but he is due credit for speaking out as he did, and it is plain for all to see that he is genuinely furious about the situation.

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Don't worry, he's safe and well and sitting by a pool somewhere stateside sipping a cold beer and receiving the occasional Big Rangers Administration Thread-related text so he doesn't feel left out ;)

No excuse. I'm also on holiday at present and paying 1 euro per MB for mobile roaming.

Don't know if this means I'm a sad b*****d or that Rangers potential demise justifies the cost. :unsure:

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Don't worry, he's safe and well and sitting by a pool somewhere stateside sipping a cold beer and receiving the occasional Big Rangers Administration Thread-related text so he doesn't feel left out ;)

Make sure and tell him that everyone who has been here since the start is missing him and we miss his positiveness.

Tell him also that taking your holidays when Rangers are about to die is for poofs.

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For the avoidance of doubt, Duff and Phelps have also gone by the following names:

The Chuckle Brothers, Diouf and Defer, Defer and Procrastinate, Duff and Duffer, the Duffs, those lying Cockney b*****ds.

Is Pozbaird on holiday? What a time to go away.....

If they pull the plug on rangers they will be known as Ben and jerry

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Tell him also that taking your holidays when Rangers are about to die is for poofs.

sad.gif

I came back today from a week away and am struggling to get through this with an understanding of whatever's just happened.

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Tell him also that taking your holidays when Rangers are about to die is for poofs.

Is now worried about his sexuality as I have a holiday booked for September :unsure:

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