The_Kincardine Posted September 11, 2015 Share Posted September 11, 2015 I do honestly believe though that it shows that even for Rangers fans, there's a deep seated knowledge that liquidation did not allow for continuation into what came next, to be entirely seamless. This is an excellent (if rare) point, MT and I'm disappointed in DK. It simply shows that it's not just the Ps&Ds who are idiotic enough to buy in to the club=company registration # dreck.. 0 Quote Link to comment Share on other sites More sharing options...
CityDave Posted September 11, 2015 Share Posted September 11, 2015 The tedious shite goes both ways though monkey , I am just fed up of trying to have a decent conversation and arguement with posters only for the usual type to give it their usual response I would not be surprised if the 20 million Is a major factor to his thought process , also would be a huge ego boost if he did do so , so he has that to gain , as I have said I and any Rangers fan I have spoke to regarding it are generally supportive of it and I would like to see the creditors of the oldco compinsated if it does fall into place Self interest?. But think of the warchest. Its difficult to read into this right now as there are other factors that could interfere like Worthington or the HMRC. I doubt there is enough funds left within the oldco or tied up within the vaults of Duff & Phelps to cover all those debts, so outside funds might have to have to be sourced. I think the small individual debts could easily be dealt with and this could play into Dave Kings hands in oldco ownership. I would doubt there is 20m for Dave King and if he really is a good guy he will be looking to put the football club first. Now what is puzzling is the financial sanctions on newco when Charles Green was in charge back in 2012 and how this effects who has claim to the oldco. 0 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted September 12, 2015 Share Posted September 12, 2015 I'm a fair-minded man, myself. If New Rangers cover the debts of the old club - properly, and not in a bullshitty manner - then I'd say that levels it out. They can have their history back. 0 Quote Link to comment Share on other sites More sharing options...
muirkirk nil Posted September 12, 2015 Share Posted September 12, 2015 From The Herald. RANGERS chairman Dave King has had a claim for millions from the £18 million club oldco creditors pot thrown out by liquidators. The South African businessman had claimed he was owed £20 million over an investment in the club 15 years ago, when Sir David Murray was owner. If he had succeeded it would have made him the third biggest creditor of the in-liquidation former operating company. But the Herald understands the liquidators BDO have rejected his claim as an unsecured creditor - potentially raising the amount available to others stung by the oldco collapse. Mr King revealed moves on Thursday to try and pay off the oldco creditors and revive the oldco, RFC 2012 plc, which is in the process of being liquidated after former owner Craig Whyte presided over its descent into administration in February, 2012. It is a move that could potentially see the club having to come up with as much as £78 million to pay off creditors. One insolvency expert has said that even if creditors agreed to a settlement, it would only result in the oldco either being dissolved or placed back into the hands of the previous owner, Craig Whyte. Promoted stories Recommended by When Mr King ploughed the money into the club, a new £53 million share issue had been made to improve the playing squad and develop a strong youth policy through a new academy. Some of the new cash also went towards lowering the club's then £40m debt. Of that, £20m was described as new money from Mr King, invested through his Ben Nevis Holdings firm. Mr King became a non-executive director at Ibrox. He became at the time the club's second-biggest shareholder through his stake in Murray Sports, Rangers' parent company. When The Herald revealed details of his claim last year, he stood to gain at least £3m as one of the main unsecured creditors. But questions were raised in some circles over how a Rangers oldco investor who had received shares in return could qualify as an unsecured creditor. Oldco shareholders will not expect to see a penny in any creditors pot payout as secured and unsecured creditors have to be paid off first. The Herald understands that Mr King has accepted the position of the oldco liquidators BDO and there has been no challenge. Over three years ago, Mr King said he was to mount a legal challenge against former Rangers owner Sir David Murray over the investment. Mr King's announcement of a legal challenge came amid allegations he made on the basis of non-disclosure by former Rangers owner Sir David Murray over the club's true financial position in 2000 when he made his investment. Mr King said at the time that any benefit he made from the claim would be fully reinvested into the restructured football club. He said at the time: "I seem to be one of the few people who actually invested cash into the club." Share article Sir David has previously insisted to the Herald that no financial information was withheld from Mr King and that during his time as chairman he had not made any complaints. Mr King declined to comment on whether he would continue to mount the legal challenge against Sir David or on the position with the liquidators. 0 Quote Link to comment Share on other sites More sharing options...
The_Kincardine Posted September 12, 2015 Share Posted September 12, 2015 I'm a fair-minded man, myself. If New Rangers cover the debts of the old club - properly, and not in a bullshitty manner - then I'd say that levels it out. They can have their history back. I half agree with you. The moral thing is to have the trade creditors and 'the wee tax case' paid. This is the right thing to do. The Big Tax Case and Ticketus can GTF. Reviving the oldco reg number is posturing bollocks. 0 Quote Link to comment Share on other sites More sharing options...
flyingrodent Posted September 12, 2015 Share Posted September 12, 2015 Jesus Christ, I don't expect to have my good faith shattered that quickly. 0 Quote Link to comment Share on other sites More sharing options...
Doink Posted September 12, 2015 Share Posted September 12, 2015 The_Kincardine 0 Quote Link to comment Share on other sites More sharing options...
Doink Posted September 12, 2015 Share Posted September 12, 2015 Ian Black 0 Quote Link to comment Share on other sites More sharing options...
Doink Posted September 12, 2015 Share Posted September 12, 2015 Dave King 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted September 12, 2015 Share Posted September 12, 2015 This is an excellent (if rare) point, MT and I'm disappointed in DK. It simply shows that it's not just the Ps&Ds who are idiotic enough to buy in to the club=company registration # dreck.. It doesn't require buying into anything. It just relies on a recognition that something changed in 2012 in a pretty fundamental way. 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted September 12, 2015 Share Posted September 12, 2015 I'm a fair-minded man, myself. If New Rangers cover the debts of the old club - properly, and not in a bullshitty manner - then I'd say that levels it out. They can have their history back. I'm convinced that it can't and won't happen. If it did however, it really would leave Rangers fans in a confused place. Yes, they'd be able to claim the 54 titles, but they do that anyway, and I've no real difficulty with it, aside from the giggles. They would then be left however, with this gap - the current spell. What would they do with that, in constructing a picture of seamless continuity? I suspect that King has just come out with a glib sound bite, which is meaningless, but reflects a misreading of the mood among fans. 0 Quote Link to comment Share on other sites More sharing options...
greyman Posted September 12, 2015 Share Posted September 12, 2015 lol.jpg Would ye aye That an ugly bird or ugly bloke? 0 Quote Link to comment Share on other sites More sharing options...
Drew Brees Posted September 12, 2015 Share Posted September 12, 2015 I'm a fair-minded man, myself. If New Rangers cover the debts of the old club - properly, and not in a bullshitty manner - then I'd say that levels it out. They can have their history back. Only £78m according to the Herald And then the OLDCO will back to Craigy, that'll teach them. The boss-eyed f**k is back for his money, money that sir david dumped down a black hole, but I'm sure the bears will PAY UP. They're playing great football btw -1 Quote Link to comment Share on other sites More sharing options...
Drew Brees Posted September 12, 2015 Share Posted September 12, 2015 I suspect that King has just come out with a glib sound bite, which is meaningless, but reflects a misreading of the mood among fans. "There are BIG plans ahead, and we need to buy into them before it's too late and we miss this once in a lifetime oppertunity. Once I've won us the Quadrangle and have us competing with Real Madrid, I'm going to unliquidate Deadco1872; unsink the Titanic; unexplode the Twin Towers. It's our destiny bears, and you too can play your part in history ..... all you have to do is suspend all rational thought, and buy those season tickets. With your money, we can create the illusion that it's my money. WATP No Surrendah. B&Q" 0 Quote Link to comment Share on other sites More sharing options...
Boghead ranter Posted September 12, 2015 Share Posted September 12, 2015 Yes f_b .....sure. Wid I think someone actually is. 0 Quote Link to comment Share on other sites More sharing options...
forever_blue Posted September 12, 2015 Share Posted September 12, 2015 I think someone actually is. Eh? 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted September 12, 2015 Share Posted September 12, 2015 Seriously though are there any Rangers fans whos penny is dropping about DK?I have never heard any Rangers fan in the last 4 years ever mention bringing back the oldco in fact the complete opposite...that it had nothing to do with you or the club..now according to DK rangers fans would love it?!.....comon!! Think in light with recent developments , Rangers fans have began questioning would it be possible to get back the oldco over the last few weeks..lol the desperation to cover for DK is amazing...you'll have proof of course of Rangers fans wwanting an old holding company back? 0 Quote Link to comment Share on other sites More sharing options...
mythstoliveby Posted September 12, 2015 Share Posted September 12, 2015 I half agree with you. The moral thing is to have the trade creditors and 'the wee tax case' paid. This is the right thing to do. The Big Tax Case and Ticketus can GTF. Reviving the oldco reg number is posturing bollocks. I hope you espoused that "moral thing" at the time - and were not one of those rangers fans who laughed that they'd got away from their debts? Some of the things I heard from rangers fans about that face painter's bill etc were crass in the extreme. Dignity? Class? I don't think so. 0 Quote Link to comment Share on other sites More sharing options...
mythstoliveby Posted September 12, 2015 Share Posted September 12, 2015 ...and btw, why is it Ticketus can gtf?? What exactly have they done wrong???????????????? 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted September 12, 2015 Share Posted September 12, 2015 .. lol the desperation to cover for DK is amazing...you'll have proof of course of Rangers fans wwanting an old holding company back? Yes, I'm interested in this too. I'd thought that King's witterings came totally out of the blue. Now we get the suggestion that he was picking up on something that was being considered by fans already. I hadn't realised this. 0 Quote Link to comment Share on other sites More sharing options...
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