Jacksgranda Posted March 2, 2021 Share Posted March 2, 2021 29 minutes ago, Swello said: Dissertation season is bad enough. Dissertation season and a discussion about Rangers/The Rangers/Sevco rolled into one? 4 hours ago, coprolite said: After being locked in the house for two months with the wife and two daughters, i found it a refreshing change to be asked for my views on anything and to be able to answer. So it had that going for it. In these trying times of lockdown it helps some of our more isolated posters. 1 Quote Link to comment Share on other sites More sharing options...
TheScarf Posted March 2, 2021 Share Posted March 2, 2021 Rangers didn't just go into administration though. They were liquidated as it was clear they wouldn't be able to pay back the debt they owed everyone. Motherwell, Dundee, Hearts, Livi, Dunfermline were all able to agree deals with their creditors which allowed them to exit administration and carry on as the same club. Rangers, Clydebank, Airdrie and Gretna couldn't and were liquidated. 5 Quote Link to comment Share on other sites More sharing options...
G51 Posted March 2, 2021 Share Posted March 2, 2021 2 minutes ago, TheScarf said: Rangers didn't just go into administration though. They were liquidated as it was clear they wouldn't be able to pay back the debt they owed everyone. Motherwell, Dundee, Hearts, Livi, Dunfermline were all able to agree deals with their creditors which allowed them to exit administration and carry on as the same club. Rangers, Clydebank, Airdrie and Gretna couldn't and were liquidated. Clubs who exit adminstration through a CVA do not pay back the debt they owe everyone. 0 Quote Link to comment Share on other sites More sharing options...
DA Baracus Posted March 2, 2021 Share Posted March 2, 2021 Pretry sure that's covered when he says the bit about agreeing deals with creditors. 5 Quote Link to comment Share on other sites More sharing options...
TheScarf Posted March 2, 2021 Share Posted March 2, 2021 1 minute ago, G51 said: Clubs who exit adminstration through a CVA do not pay back the debt they owe everyone. Aye they agree a CVA with the creditors to pay back certain pence in the pound, hence my use of the word 'deal'. Rangers could strike no such 'deal' and were liquidated. 0 Quote Link to comment Share on other sites More sharing options...
DA Baracus Posted March 2, 2021 Share Posted March 2, 2021 Most clubs are more sensible these days, but there will always be one or two who don't learn the lessons of the past and some who think it will never happen to them. So who do we think the next club to go in to administration will be? Bryan Jackson must feel like a spurned lover just now. 0 Quote Link to comment Share on other sites More sharing options...
G51 Posted March 2, 2021 Share Posted March 2, 2021 Just now, TheScarf said: Aye they agree a CVA with the creditors to pay back certain pence in the pound, hence my use of the word 'deal'. Rangers could strike no such 'deal' and were liquidated. So your assertion that liquidation was a result of being unable to fully pay back debts is incorrect. That was the reason for administration, not liquidation. Liquidation also results in creditors agreeing to be paid x pence in the pound - this agreement is called a creditors voluntary liquidation. Whether creditors choose to go with a CVL or a CVA depends on what they think the best deal is for them - regardless of the route chosen, debts are not paid back in full. 0 Quote Link to comment Share on other sites More sharing options...
TheScarf Posted March 2, 2021 Share Posted March 2, 2021 2 minutes ago, G51 said: So your assertion that liquidation was a result of being unable to fully pay back debts is incorrect. That was the reason for administration, not liquidation. Liquidation also results in creditors agreeing to be paid x pence in the pound - this agreement is called a creditors voluntary liquidation. Whether creditors choose to go with a CVL or a CVA depends on what they think the best deal is for them - regardless of the route chosen, debts are not paid back in full. So what happened to Rangers then? 0 Quote Link to comment Share on other sites More sharing options...
DA Baracus Posted March 2, 2021 Share Posted March 2, 2021 Regardless of the result, Rangers died and ceased to be and the club currently calling themselves Rangers are a new one, a successor to the original. Their impending title win will be their first in the top league, not their 55th. 0 Quote Link to comment Share on other sites More sharing options...
G51 Posted March 2, 2021 Share Posted March 2, 2021 3 minutes ago, TheScarf said: So what happened to Rangers then? HMRC thought the best deal was the CVL, and they owned enough of the debt that they could force it. Hence they rejected the CVA and approved the CVL. 0 Quote Link to comment Share on other sites More sharing options...
G51 Posted March 2, 2021 Share Posted March 2, 2021 6 minutes ago, DA Baracus said: Regardless of the result, Rangers died and ceased to be and the club currently calling themselves Rangers are a new one, a successor to the original. Their impending title win will be their first in the top league, not their 55th. 0 Quote Link to comment Share on other sites More sharing options...
TheScarf Posted March 2, 2021 Share Posted March 2, 2021 1 minute ago, G51 said: HMRC thought the best deal was the CVL, and they owned enough of the debt that they could force it. Hence they rejected the CVA and approved the CVL. So Rangers were liquidated? 0 Quote Link to comment Share on other sites More sharing options...
G51 Posted March 2, 2021 Share Posted March 2, 2021 2 minutes ago, TheScarf said: So Rangers were liquidated? I refer you back to my post on Page 3: 15 hours ago, G51 said: I'm still laughing at the idea that communitarian institutions can "live" or "die" based on insolvency laws. Very hopeful that we'll continue to see people who consider themselves to be left-wing losing the run of themselves over it. The inevitable league title win this weekend should hopefully result in some good sevcoing. 0 Quote Link to comment Share on other sites More sharing options...
TheScarf Posted March 2, 2021 Share Posted March 2, 2021 I'll take that as a 'yes'. 10 Quote Link to comment Share on other sites More sharing options...
Ranaldo Bairn Posted March 2, 2021 Share Posted March 2, 2021 The self delusion, even among apparently level headed and personable Rangers fans, is utterly astounding. Even 9 years after Rangers (1872) died. Simply wishing them to carry on because they were important to a lot of people ain't gonna cut it, I'm afraid. 0 Quote Link to comment Share on other sites More sharing options...
G51 Posted March 2, 2021 Share Posted March 2, 2021 Just now, TheScarf said: I'll take that as a 'yes'. Take it as you wish mate. It's yesterdays argument anyway. Though I do appreciate the irony of an ICT fan moralising about what makes a club... 0 Quote Link to comment Share on other sites More sharing options...
buddie06smfc Posted March 2, 2021 Share Posted March 2, 2021 Just imagine if G51 put in this much effort back in 2012. It could have turned out oh so differently. 0 Quote Link to comment Share on other sites More sharing options...
Dons_1988 Posted March 2, 2021 Share Posted March 2, 2021 8 minutes ago, G51 said: I refer you back to my post on Page 3: I really can't be arsed with this debate but you trying to undermine people's left wing credentials can easily be flipped to ask why a supposedly left wing individual feels an institution can use insolvency laws to walk away debt yet continue trading unabated. 0 Quote Link to comment Share on other sites More sharing options...
TheScarf Posted March 2, 2021 Share Posted March 2, 2021 1 minute ago, G51 said: Take it as you wish mate. It's yesterdays argument anyway. Though I do appreciate the irony of an ICT fan moralising about what makes a club... What have they go to do with Rangers being liquidated? 0 Quote Link to comment Share on other sites More sharing options...
G51 Posted March 2, 2021 Share Posted March 2, 2021 2 minutes ago, Dons_1988 said: I really can't be arsed with this debate but you trying to undermine people's left wing credentials can easily be flipped to ask why a supposedly left wing individual feels an institution can use insolvency laws to walk away debt yet continue trading unabated. as per page 1: On 01/03/2021 at 13:23, G51 said: where's the option for "the flexibility of debt as a concept is it's primary strength, and the moral obligations associated with repayment is one of the chief weapons deployed by the capitalist classes against the proletariat in order to maintain the class structure of the western world, therefore not paying debt is in fact good and correct and should have resulted in Rangers being awarded the 2011/12 SPL championship" 0 Quote Link to comment Share on other sites More sharing options...
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