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Big Rangers Administration/Liquidation Thread - All chat here!


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From the Beeb:-

Director Dave King calls for Rangers CVA rejection

Rangers director Dave King is urging creditors to reject Charles Green's company voluntary arrangement when they meet on 14 June.

South Africa-based King has also called on the club's supporters not to renew their season tickets until Green's consortium details its plans.

"I am opposing the CVA and urge all loyal fans to do the same," said the exiled Scot.

"We don't want to be back in a similar situation next season."

And King, Rangers' second largest shareholder, added: "I also believe that all true Rangers fans should not buy any season tickets until full and frank disclosure has been provided by Duff & Phelps, Mr Green, and Mr [Craig] Whyte, as to what is truly going on behind the scenes."

King argues that the CVA should be rejected by creditors because neither administrators Duff & Phelps or Green's consortium has not provided enough information about how it would fund the acquisition of the club or invest in it in the future.

Nor, he claims, does the consortium's £8.5m offer give him comfort that the consortium has the "requisite business skills", appreciate that "the club cannot be run on purely business principles" or "recognise that the fans are key stakeholders in the club".

Duff and Phelps published revised and approved proposals to creditors on Thursday.

Among the revised proposals was that HMRC would nominate Malcolm Cohen and James Bernard Stephen of BDO as joint liquidators, rather than Duff & Phelps, if the club was to be wound up.

Meanwhile, Whyte, who has agreed to sell his 85% shareholding to Green's consortium for £2, has stated that the CVA "is the best way forward for the club and it will leave Rangers in an excellent situation".

Rangers entered administration in mid-February, nine months after Whyte acquired the majority shareholding from Sir David Murray.

"My shares will form part of the consortium's shareholding and after that I will focus on other activities.

"It has certainly been an eventful year but I did what needed to be done, unpopular as it was. There was no alternative. It had to be done.

"If it wasn't me it would have been someone else.

"People will look back in a year or two with a different view. People have conveniently forgotten the state Rangers were in at that time.

"I should have taken the club into administration on completion of the deal.

"But there was no way the situation would have been avoided unless someone came in and put in £100m and we have seen in recent weeks how difficult it is to get anyone to put money into a football club."

Whyte is threatening to take legal action against the Scottish Football Associationo, who deemed the businessman unfit to hold an official position in the game when he was handed fines totalling £200,000 for bringing the game into disrepute.

"I will be going after them," he said. "I will be looking at legal options against the SFA.

"They have a lot to answer for with their defamatory statements about me which formed the basis of their so-called investigation.

"Scottish football's regulators are inept and have showed themselves up. But they have no jurisdiction over me."

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Oh, I'll have a stab at this one then. You're implying that any panel the SFA use won't be impartial in your favour which in itself negates your points. I'm sure if it were Jimmy Nicholl, Donald Findlay and Campbell Ogilvie there would not have been one peep of protest from Ibrox, but everyone else would be up in arms, just how you like it, all or nothing eh? Try remembering this little lot but please take off those special reading glasses you normally wear, it might help you see things in black and white for a change, wouldn't that be nice?

  • The guilty verdict on 5 out of 6 counts of breaching SFA rules still stands
  • The JP and the AT both agreed that a fine was insufficient punishment for such offences and applied a transfer embargo
  • Rangers won an appeal against the improper use of a transfer embargo at the CoS
  • The CoS sent the matter back to the AT noting that the AT still have the power to impose a further sanction from the available listed options
  • The AT, having already agreed that a fine is insufficient, now have to select - should they see fit - a sanction from the following list
  • A Scottish Cup Ban
  • Suspension of Membership
  • Expulsion

You clearly think the world is weighed against you in a unjustified vandetta. How you can see it that way is beyond me but there we have it. There are, frankly, too many reasons for Rangers to be disliked, most of them already noted on this thread, but let's try and keep emotion out of it, it tends to cloud judgement. I'll assume that's the view you have too, but from the other side of the looking glass.

The findings of the JP and AT were never in question and Lord Glennie made reference to that. Rangers have put the SFA in an untenable position from many sides. If they impose no further sanction, they are weak in they eyes of every football fan in the world, except Rangers fans, and the system is shown to be corrupt, which in itself will bring the game down with or without Rangers.

I'll try to let you see if from a different perspective, one more befitting of your understanding........you might want to top up that coffee, this takes a while......

Back to School with Rangers

Rangers are the school bully. For years they've been lording it up and taking sweeties off everyone else. The diddies are the rest of the playground. Too scared and small to stand up to the bully. For years everyone in the playground has hated the bully. No one likes him, but he doesn't care with that big bag of chips on his shoulder. He just carries on taking what he wants and doing what he likes because he's bigger than the rest of the diddies and he has a big family. I mean really big. In every way.

One day, the actions of the bully came to the attention of a staff member (the SFA). The staff member was most annoyed with the bully. It turns out this has been going on for years. More and more stories from the playground start to come out and one by one the diddies begin to let the staff member know how they feel about the bully and his conduct over the years.

Unsure of how to deal with this situation, the staff member goes to the school counsellor (the JP) who is hearing all of this for the first time. The counsellor, who works in the school as a volunteer, goes to look up the school rules to see what punishment can be handed out. The rules say that the pupil can be given 100 page essay, not allowed to play in the Schools Football Cup, suspended from school or expelled. There is also the power to impose any sanction the counsellor deems fitting although this doesn't give any further indications of what that might be.

The counsellor reports back to the staff member, who coincidentally looks after the school football team. The counsellor thinks that a 100 page essay is far too lenient. Restricting the bully from playing football will damage the teams chances of winning the schools cup and raising funds and suspension or expelling the bully wouldn't be good for the schools reputation. It was also noted that suspension or expelling the bully would likely cause the bully himself unknown damage, even in the short term, given the current situation at home.

In this instance, the counsellor decides to invoke the power to determine a suitable punishment because of the special case this presents. So the bully is given a 100 page essay and detention after school while everyone else gets to go home. This serves to restrict the bully from causing the same problems and hopefully learn from the experience, while still allowing him to play football to keep his spirits up and not bringing the schools reputation into question. Most of the diddies seem pleased with this outcome and everyone is prepared to move on.

The next morning, bully shows up at school with his dad. The dad is demanding to meet the counsellor and wants to know which staff room he is in. The counsellor is quite shaken having not expected this reaction given that the misconduct of the bully was so bad, it could have seen him expelled. The bully asks his dad not to keep embarrassing him and to please go home. Via the bakery.

Later that day, the bully and the counsellor agree that the matter should be taken to another more senior member of staff, the Head Teacher (AT) who is better qualified than the counsellor to rule on the original findings and that they will both await his decision.

Having heard all the facts from both parties, it doesn't take the Head Teacher long to realise that, in the circumstances, the counsellor was attempting to keep the staff member happy by still allowing the bully to play football, not getting the bully into even more potential trouble at home through suspension or being expelled and ensuring no lasting damage to the schools reputation. The Head Teacher concludes that the volunteer counsellor was being fair with the punishment and asks that the bully accept this second opinion so that they might all prepare for the new school year which is due to start in 8 weeks time.

The school bully is furious now. The entire family, including uncle Sandy, have waddled to the steps of the school in protest and the whole matter gets a little out of hand for a few days.

A few days later, after a whip round from the family to raise the necessary funds because Grandad (Green) came up a bit short on his promises, the bully proceeds to take his case to the Council (Lord Glennie). The Council is not impressed with the school volunteer counsellor or the Head Teacher for imposing a punishment on the bully that was not specifically mentioned in the school rules. The Council noted that the bully does not deny any of the guilty verdicts but nonetheless that was not why the bully was complaining.

The bully had insisted on being given a punishment from within the rulebook. The Head Teacher, the counsellor and the staff member all concede to the Council's decision that the matter be returned back to the Head Teacher with the bully receiving no detention as it is not stated in the school rules as an available punishment and that the matter of any further punishment is for the Head Teacher to deal with. Much whooping and eating of cakes ensues as the bully and his family celebrate their big win.

Meanwhile, all of this negative publicity has attracted the attention of the Department of Education (FIFA) who have been in contact with the school to insist the matter is dealt with quickly and effectively. Now that the matter has returned to within the confines of the school, to deal with it logically would be to apply one of the remaining sanctions listed, therefore the bully's punishment is warranted as having been properly selected from the options available - exactly the bully wanted. If this is dealt with in the appropriate manner, then the Department for Education will leave the matter to the Head Teacher. If it isn't then the Head Teacher, counsellor and staff member can expect a visit from HMiE about putting their school in order.

The Head Teacher has been forced into the position of being compelled by their own findings to apply a further level of sanction above the most lenient option of the 100 page essay, now that the Council at the request of the bully have ruled out detention, or risk the diddies complaining, the staff feeling unsupported and the counsellors being hung out to dry. Everyone knows the rules of the game now thanks to the bully being, well, bullish. The argument has come full circle and it's back to what to do about the bully's behaviour. For which the bully has never once said sorry. I was wrong.

So the moral of the story? If you are a bully and get caught, take your punishment and learn from your mistakes. Bringing your family to school to back you up shows how weak you really are. The willingness to flaunt the rules for years and then hide behind them when its suits serves to justify that even further as the actions of a coward.

But some bully's never learn. This bully might even go back to the Council and tell them they were wrong too, that it should be the counsellor not the head teacher that has to decide their fate. And isn't that where it all started, applying fair and reasonable sanctions in light of the bully's own personal circumstances, looking at it as a special case? More circles. Like clocks, all ticking and no talking. Or maybe ever decreasing circles, like the ones you get circling a drain........

And breathe biggrin.gif

So, back to your question using simple logic No.8:

  • How does Regan know what sanctions?
  • Easy. Regan, me, you and everybody knows what the sanctions are.
  • What, if any will be imposed?
  • No, no sir. That should be what in particular will they choose to apply?

That's the £13million pound question..... in the words of Jim Bowen, " and Bully's special prize......awww, look at what you could have won...."

One very slight comment on this excellent story. You forgot to point out that the bully won't be able to hand in the 100 page essay as he doesn't know how to read or write. :lol:

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He has to be the most relegated player in Scotland, Division 3 is the only safe place for him, until we get that pyramid system sorted.

Nah, he was terrific in the 2nd Division

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"deliberate non-disclosure by David Murray of transactions that he had committed to on behalf of the club that were both risky and to the sole advantage of the Murray Group"

(edited from 2 separate Tweets by Alistair Lamont)

Now THIS is certainly adding some spice to the pot :D !

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My boy is smashing, after demanding his daily update on the Rangers saga today he's put in an order of jelly and ice cream for pudding. Forget the rumours and speculation, I think we now have confirmation.

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Dave King says " rangers cannot be run on purely business principles"

In that case Davey, you'd be better running a soccer sevens outfit,Beacause Abramovitch and the rest of the EPL benefactors are NOT coming north of the border.

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The plot thickens and Dave King on SSN asking for his initial investment of £20 million as SDM used dodgy EBT's and he knew nowt about it apparently ha ha.

This mess just gets worse than a chimpanzees tea party at the zoo.

Edited by hellbhoy
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Did Craig Whyte actually end up putting any money at all into Rangers apart from the quid he paid Murray? If so he just sold it for 2quid doubling his money making it the greatest deal in the history of buisness.biggrin.gif

and funniest.laugh.gif

Edited by Co.Down Hibee
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Did Craig Whyte actually end up putting any money at all into Rangers apart from the quid he paid Murray? If so he just sold it for 2quid doubling his money making it the greatest deal in the history of buisness.biggrin.gif

and funniest.laugh.gif

I had to double check there, I thought I'd gone back 1000 pages.

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In 5 years time, once the saga is over. Any new person to p&b should be directed to the diamond forum for this one thread. It must be read from start to finish before they are allowed to post

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God bless you, Dave King, for sticking an oar in just when it can do the most damage

It looks like the next few days could prove very entertaining.

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