Ejoocate me venum , wit duz liquify mean mate eh ? ahm jist a fantasy fello aff the ninternet <jeanenne-ridpiss>
Just listened to the statement from D&P on Radio Scotland. No liquidation. Rangers PLC remains. New company set up to incubate the assets of the club and to which investment can be input. Rangers to come out of of administration via CVA. Will that work? Who the **** knows. Seems too that Miller is no longer seeking conditions on his bid. D&P said that his was the only unconditional bid. What conditions did the TBK have on their bid? Binding agreement to be reached soon say D&P and the sale to be completed before the end of the season.
I'm happy that we're going down the newco route as there simply isn't time to get a stand-alone CVA arranged before the start of the season. We would've therefore still been in admin and subject to further points deductions. I think BK/TBK would have had more trust from the fans, but their pig-headedness on this issue baffled me.
Tomorrow Leggo will be: A: beeling B: doing a 180 turn and telling everyone what a great guy Bill Miller is
That kind of **** might have worked on the BBC, but it's cutting no mustard on here. Grow up and stop acting like a ginger kid. <mick>
From what they said there is to be a CVA, although not a 'standalone' CVA which could not have been completed before the start of the season. No, I don't know what the **** that means either.
bbc sportsounds finest have been telling everyone for weeks that the incubator company is a fancy word for a newco and the end for rangers as we know it. they even had a guy from strathclyde business school on the program to say the same thing. tbk also said the same thing. unless whyte sells his shares / hands them over in rangers there can only be a newco
I widny know. What they're saying is that the incubator is a new company. Rangers FC PLC continues to exist. Two companies. The incubator holds the assets. Rangers comes out of admin via CVA. But who the **** knows. Statement from D&P says a lot of words but **** all about **** all.
I don't trust this incubator company malarkey at all. SDM and Whytey never got us involved in any of this corporate sleight of hand.
How can one company hand over assets to another company if they are in administration and have a mob of creditors chasing these assets?
I believe the plan is this Pay 500k for rangers, keep liquidation from the door for a few months whilst acting like messiah...with McCoists backing Sell season tickets for millions, cash to newco, arrange to fight Ticketus in courts over cash owed at later date and hold talks on partial cva with other creditors Liquidate club from under noses Cocktails and hookers back in the US But what do I know
