Jump to content
pozbaird

Big Rangers Administration/Liquidation Thread - All chat here!

Recommended Posts

I don't believe that will stop The Board offering to repay the loan if, for example, Ashley/MASH 'agree to drop all future litigation'. They might also want them to renegotiate the 7-year notice period. Otherwise, Ashley 'needs to wait for repayment, possibly until the new company goes into liquidation at which point he can take his place in the queue'.

I don't believe Rangers expect Ashley to accept the repayment offer - that's not part of the plan and I'm not sure the 5M exists - but they need to be able to tell the world that they tried.

What's making me suspicious is the sudden volte-face. One day it was 'not in Rangers' best interests to repay the loan' and the next day they're desperately scrabbling the cash together before breakfast and not quite making it. Something is rotten in the state of Denmark.

Conspiracy theory? Maybe. Maybe not.

I was told (speculation but still) by a lawyer who works with debt that Ashley might've threatened with foreclosure. The 5 mil loan doesn't have a repayment deadline, but he told me that in reality it means that the loan is repayable on demand after a reasonable period of time. Ashley asked for it to be repaid earlier in the year, I think it was the end of spring or early summer. Half a year later Ashley would have ammunition to claim that reasonable amount of time had passed and demand it in court and foreclose on assets.

So if his speculation was spot on, King postured for as long as he could, but in the end the board was forced to change their position.

Also, one thing I didn't quite understand from court proceedings. Rangers lawyers said that assets will only get released at the end of 2015 regardless when they pay the loan. That was early December, so either the loan agreement says at the end of the "year" or "month." If the loan is paid on 1 January 2016, do assets only get released on December 31 2016 or 31 January 2016? If they have to wait the full year for their assets, then it makes no sense to pay at any point except late December.

Share this post


Link to post
Share on other sites

But whos guarding the walls now?!?!?!

500 million wee fannies

Lol

Never Surrender

Share this post


Link to post
Share on other sites

It's quiet....

...too quiet

An arrow then slams into a cowboy crouching behind a water barrel...

Share this post


Link to post
Share on other sites

An arrow then slams into a cowboy crouching behind a water barrel...

What happened to yon Apache don guy?

Share this post


Link to post
Share on other sites

Guess you need to find something to try cheer you up now that the loan has been repaid ...

has it tho ?

Share this post


Link to post
Share on other sites

Guess you need to find something to try cheer you up now that the loan has been repaid ...

"Cheer up" and Klingy in the same sentence? That dour c**t makes me look like Mr Happy.

Share this post


Link to post
Share on other sites

The issue in that article is the "strict liability" rule which world football embraces, but which our game resists, because our clubs think that sectarianism should be tolerated.

Edited by Monkey Tennis

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...