Jie Bie Posted June 4, 2012 Share Posted June 4, 2012 (edited) Aren't there any deadlines due? I miss the deadlines. There's a couple of big ones in the next two weeks: This Wednesday - Green to be appointed to run Rangers by H&D until his takeover (be it by the newco or CVA route) has completed. June 14th - CVA Vote Will be interesting to see if H&D are true to their word on either of them... Edited June 4, 2012 by Jie Bie 0 Quote Link to comment Share on other sites More sharing options...
weirdcal Posted June 4, 2012 Share Posted June 4, 2012 There's a couple of big ones in the next two weeks: This Wednesday - Green to be appointed to run Rangers by H&D until his takeover (be it by the newco or CVA route) has completed. June 14th - CVA Vote Will be interesting to see if H&D are true to their word on either of them... friday - SFA appellate tribuneral.. MK2.1 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted June 4, 2012 Share Posted June 4, 2012 But if the CVA is rejected those assets will be sold off via liquidation. That £5.5 million option sounds completely pointless to me. If (when) it goes to liquidation, don't they have to appoint a Liquidator, as opposed to administrators? I believe then there is a liquidation enquiry, which requires a legal sign-off by the Court of Session or similar As far as I understand, it goes something like this - CVA fails - assets sold to Sevco (ie newco) for £5.5m - Sevco applies to have SFA membership and SPL share transferred - oldco is liquidated, but has no assets, other than the £5.5m Sevco paid - £5.5m just about covers H&Ds fees - creditors get screwed - Sevco (now Rangers) carry on trading You would have thought that given the values of Ibrox and Murray Park stated in the accounts, the creditors would be concerned if they only went for £5.5m. If it was the case that this was an agreed sale, I would expect some legal challenges, especially from the larger creditors. Interestingly, the £5.5m in the CVA doesnt buy Sevco the property. There is no value listed against the property under the newco option. The £5.5m buys the 'goodwill' etc. Make of that what you will. There may well be legal challenges. As I said, an article posted earlier raised the question of the creditors agreeing to the sale 0 Quote Link to comment Share on other sites More sharing options...
roverthemoon Posted June 4, 2012 Share Posted June 4, 2012 I agree, with every other club there's no need for it to be discussed, but with any other club it wouldn't be an issue either way and so would never be mentioned. With EVERY club there is no need for it to be discussed even Rangers and Celtic. Anyway don't want to distract from the main purpose of this thread which is to point and laugh at Rangers. 0 Quote Link to comment Share on other sites More sharing options...
Happy Buddie Posted June 4, 2012 Share Posted June 4, 2012 (edited) There's a couple of big ones in the next two weeks: This Wednesday - Green to be appointed to run Rangers by H&D until his takeover (be it by the newco or CVA route) has completed. June 14th - CVA Vote Will be interesting to see if H&D are true to their word on either of them... The time : 09:00 The date : Wednesday 6th June ( D: Day - The Longest Day) The place : Ibrox Beach, Normandy The cast: General Incompetence (in charge of administration) Second in Command ( lackey) Captain Green (commanding officer of The Mysterious Brigade) The True Blues (cannon fodder) GI: Call Green, I wish to congratulate him on his assault and victory in securing Ibrox Beach Second in command : It's ringing, sir. Oh, hello, I have General Incompetence here, wishes to speak to Captain Green. .............................Sir, they say they've never heard of a Captain Green. GI : Give me that phone......... Ok, this secrecy lark is all well and good for the Hvn, but this is General Incompetence, now get Green on the line now. I spoke with him just yesterday and our plans were well laid for today, so I expected to hear from him that he commenced the final push to secure the objective. Now where is he? ...............You don't know? You bloody well should know, you're the one who told me all of the assets required were in place. ..................Yes, it was you.........And you sent those papers over, I have them right here, what the hell, the writing seems to have disappeared...........Oh, you're just the cleaner. ..........So who else is there?...............No-one?.......And you've NEVER seen anyone in that office? ............Well, it's a mystery to me, too.......Oh, you saw a lot of people in uniform walking away..........What sort of uniforms? ............Mostly blue, with some red and white, and some with orange sashes and white gloves. ...........Oh, well I guess we'll just have to set up a new deadline for the invasion then. Sorry to trouble you, goodbye.... Right, No. 2, get the tea and cakes out, we could be here for a very, very, long time. Edited June 4, 2012 by Happy Buddie 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted June 4, 2012 Share Posted June 4, 2012 The SFA could torture Rangers if they wanted, all they need to do is announce the date of the appellate tribunal re-examining the appeal to be one day after the CVA meeting. That way regardless of the outcome Green will not have his funds in place to finance the CVA. Who is going to invest in the Green Brigade when there is doubt over the very existence of Rangers? 0 Quote Link to comment Share on other sites More sharing options...
wunfellaff Posted June 4, 2012 Share Posted June 4, 2012 Just had a terrible thought. What if the taxman knows he's gonna lose BTC and reckons the best way to get owt is to let H&D run up hooooge profits and get tax on that... 0 Quote Link to comment Share on other sites More sharing options...
MEADOWXI Posted June 4, 2012 Share Posted June 4, 2012 The SFA could torture Rangers if they wanted, all they need to do is announce the date of the appellate tribunal re-examining the appeal to be one day after the CVA meeting. That way regardless of the outcome Green will not have his funds in place to finance the CVA. Who is going to invest in the Green Brigade when there is doubt over the very existence of Rangers? Funnier if they booked it for the same date and time as the CVA meeting (June 14th). Can imagine the calls between the meetings, 'have you made a decision yet?' , 'No we're waiting on you', 'Snap', They could all be locked away for months seeing who blinks first. 0 Quote Link to comment Share on other sites More sharing options...
DeeGeeOneHamer Posted June 4, 2012 Share Posted June 4, 2012 As far as I understand, it goes something like this - CVA fails - assets sold to Sevco (ie newco) for £5.5m - Sevco applies to have SFA membership and SPL share transferred - oldco is liquidated, but has no assets, other than the £5.5m Sevco paid - £5.5m just about covers H&Ds fees - creditors get screwed - Sevco (now Rangers) carry on trading Interestingly, the £5.5m in the CVA doesnt buy Sevco the property. There is no value listed against the property under the newco option. The £5.5m buys the 'goodwill' etc. Make of that what you will. There may well be legal challenges. As I said, an article posted earlier raised the question of the creditors agreeing to the sale Not so sure Mr Green will have endeared himself to the 'Blazers' enough for that to be a given. I'm sure the Spartans chairman didn't sit on the panel just for a laugh. 0 Quote Link to comment Share on other sites More sharing options...
ggr Posted June 4, 2012 Share Posted June 4, 2012 1338808607[/url]' post='6301546']Love leggo for a laugh. He attacks the poor english used by Regan And maybe I missing something but he twice accuses Regan of 'blatant apparent collusion'. You can have blatant collusion, You can have apparent collusion, But surely blatant apparent collusion is a fucked up description ?!?! Definitely maybe 0 Quote Link to comment Share on other sites More sharing options...
rustyarabnuts Posted June 4, 2012 Share Posted June 4, 2012 dont know if its been posted but this is quite a good , seemingly unbiased piece http://wingsland.podgamer.com/rangers-and-the-kaleidoscope-of-doom/ -1 Quote Link to comment Share on other sites More sharing options...
jambopompey Posted June 4, 2012 Share Posted June 4, 2012 Kind of! But if the newco was going to have to apply for a place in the 3rd division, they may as well start as a new club ie dont transfer the SFA membership. That way they could play in the 3rd next season. do you not need 3 years of audit finances to apply for membership of the SFA, Gretna are just coming to theirs so may be allowed to compete in next seasons scottish cup 0 Quote Link to comment Share on other sites More sharing options...
killingfloorman Posted June 4, 2012 Share Posted June 4, 2012 (edited) Love leggo for a laugh. He attacks the poor english used by Regan And maybe I missing something but he twice accuses Regan of 'blatant apparent collusion'. You can have blatant collusion, You can have apparent collusion, But surely blatant apparent collusion is a fucked up description ?!?! Maybe he meant blatantly apparent collusion? edit for spelling Edited June 4, 2012 by killingfloorman 0 Quote Link to comment Share on other sites More sharing options...
killingfloorman Posted June 4, 2012 Share Posted June 4, 2012 Is that an open question? My answer would be- Their dangerous levels of "basking in reflected glory" make me want to puke. I'd go for over century of bigotry and systematic cheating. 0 Quote Link to comment Share on other sites More sharing options...
Savage Henry Posted June 4, 2012 Share Posted June 4, 2012 Maybe he meany blatantly apparent collusion? Even that would be wrong. 0 Quote Link to comment Share on other sites More sharing options...
H_B Posted June 4, 2012 Share Posted June 4, 2012 So no one has helped Leggat then? 0 Quote Link to comment Share on other sites More sharing options...
killingfloorman Posted June 4, 2012 Share Posted June 4, 2012 Even that would be wrong. Since it's a tumbleweed kind of day here; why is it wrong? I agree that there is possible redundancy (not a word associated with this administration much!) but it is an improvement on the 'pish-stained alkie's' version. 0 Quote Link to comment Share on other sites More sharing options...
Happy Buddie Posted June 4, 2012 Share Posted June 4, 2012 EMU-lating!!!! 0 Quote Link to comment Share on other sites More sharing options...
Homer Thompson Posted June 4, 2012 Share Posted June 4, 2012 dont know if its been posted but this is quite a good , seemingly unbiased piece http://wingsland.podgamer.com/rangers-and-the-kaleidoscope-of-doom/ Good article, apart from one pretty big mistake But the administrators’ prime legal duty, let’s remember, is to secure the best possible return for the creditors, not for Rangers. It’s their job to produce as much money from the wreckage as it can, not to prioritise the survival of Rangers as a football club. Actually, rescuing the business as a going concern is the main priority of the administrators. Only if that cant be achieved does their main goal be to maximise the returns for the creditors. do you not need 3 years of audit finances to apply for membership of the SFA, Gretna are just coming to theirs so may be allowed to compete in next seasons scottish cup I dont know. The club licensing requires the club to provide "...a copy of its annual financial statements ... " for Entry level. All levels are also required to provide "... a summary of financial information covering the reporting year for 2011 and the previous two years ... ". Technically, a summary of 'financial information' could be "not trading". I cant see any other mention of 3 years accounts in the SFA articles, but maybe someone whos more familiar with the process could clarify? 0 Quote Link to comment Share on other sites More sharing options...
thelegendthatis Posted June 4, 2012 Share Posted June 4, 2012 The SFA could torture Rangers if they wanted, all they need to do is announce the date of the appellate tribunal re-examining the appeal to be one day after the CVA meeting. That way regardless of the outcome Green will not have his funds in place to finance the CVA. Who is going to invest in the Green Brigade when there is doubt over the very existence of Rangers? Good one. Essential the SFA and SPL and FIFA and Eufa make their own agenda, and do not be pushed into anything to suit the bleating from the Rangers loyal (and Green). Also makes the death bed pain last longer. 0 Quote Link to comment Share on other sites More sharing options...
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