ALL three of the remaining bidders for Rangers have refused to rule out liquidation
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He said that he emailed gerald krasner and was told the history would be kept.
They are going down this newco route
If you look here http://www.companyrescue.co.uk/company-rescue/options/pre-packaged-administration you will see that rangers have pretty much followed these steps to a newco route
1. hire the administrators before hand to give financial advice. Paul clark was hired by craig whyte around novemeber to give financial advice
2. Make the business as selllable as possible. Unlike a normal administration where the administrator tries to cut cost by removing the big earners. Duff and phelps have kept them all onboard and even tried to add to it with the cousin signing. This was done so not to scare of any potential bidders having to reinvest in a depleted squad.
3. Advertise the sale. Well the administrators have been all around the world seeking potential bidders.
All its left now is for HMRC to reject the cva, and they will, forcing the administrators hand to go down the newco route. Its worth noting even though HMRC are the major creditor they can't stop this as long as there are receiving more than they would if the company was liquidated and the assets sold. See this case http://www.bailii.org/ew/cases/EWHC/Ch/2007/2067.html
easier to understand version http://scotslawthoughts.wordpress.com/2011/10/31/rangers-and-hmrc-pre-pack/
This is why HMRC wanted there own administrator in place as craig whyte shafts them all the time, although i can see him been found guilty of trading while knowing the company was insolvent. He pretty much bought an insolvent company and was informed he needed to invest 5m of his money to make it solvent and didn't bother.
As for the big tax case doesn't matter as rangers had to shed that liability and HMRC threatend to take them through courts for years. There really was no alternative but a newco from the start.
They are going down this newco route
If you look here http://www.companyrescue.co.uk/company-rescue/options/pre-packaged-administration you will see that rangers have pretty much followed these steps to a newco route
1. hire the administrators before hand to give financial advice. Paul clark was hired by craig whyte around novemeber to give financial advice
2. Make the business as selllable as possible. Unlike a normal administration where the administrator tries to cut cost by removing the big earners. Duff and phelps have kept them all onboard and even tried to add to it with the cousin signing. This was done so not to scare of any potential bidders having to reinvest in a depleted squad.
3. Advertise the sale. Well the administrators have been all around the world seeking potential bidders.
All its left now is for HMRC to reject the cva, and they will, forcing the administrators hand to go down the newco route. Its worth noting even though HMRC are the major creditor they can't stop this as long as there are receiving more than they would if the company was liquidated and the assets sold. See this case http://www.bailii.org/ew/cases/EWHC/Ch/2007/2067.html
easier to understand version http://scotslawthoughts.wordpress.com/2011/10/31/rangers-and-hmrc-pre-pack/
This is why HMRC wanted there own administrator in place as craig whyte shafts them all the time, although i can see him been found guilty of trading while knowing the company was insolvent. He pretty much bought an insolvent company and was informed he needed to invest 5m of his money to make it solvent and didn't bother.
As for the big tax case doesn't matter as rangers had to shed that liability and HMRC threatend to take them through courts for years. There really was no alternative but a newco from the start.
For all intents and purposes they are folding but are using a loophole to seem as if they never did. In the old days it used to go Admin>liquidation>sell the company. It now goes Admin>sell the company>liquidate the old company. Totally wrong but **** all anyone can do apart from the spl/uefa. If they have any sense the will look at the bigger picture or at the least talk to the banks and see how they feel about it.
To the majority of fans it will be seen as them dieing and having to start again. They will be remembered, like leeds as chasing the dream,failing and having to start again.
To the majority of fans it will be seen as them dieing and having to start again. They will be remembered, like leeds as chasing the dream,failing and having to start again.
What a desperate prick.
I have been known to phone Real Radio (usually for an argument) but I never carry over debates from here, it's absolutely pathetic to be honest. Gets his arse ripped wide open on here, knows he is 100% wrong but goes onto a Radio phone in and takes advantage of their naivety to try and perpetrate a blatant lie.
That isn't how I see it. It is entirely logical that they keep their history if they do this. The SPL have all but ushered any potential buyer in this direction (or indeed whytey if he stays in the game) . This isn't what all buyers would have done.
All this **** about it being just like Leeds is total bollocks. It is nothing like Leeds at all. Leeds carried liabilities forward. The monkeys don't want to do that. They want to drop every penny. Or at least Whyte does.
If Whyte can get his claim to stick, then no **** gets nuthin'.
All this **** about it being just like Leeds is total bollocks. It is nothing like Leeds at all. Leeds carried liabilities forward. The monkeys don't want to do that. They want to drop every penny. Or at least Whyte does.
If Whyte can get his claim to stick, then no **** gets nuthin'.
I think the SPL seeking to change the rules proves that his argument about what would happen to the newco was wrong..... Ironically to an approximation-ish of what he thought the rules already were.
I don't know if he phoned the radio or not. Funny if he did though....in a very sad way.
He did his names john and he works as a banker. Let it slip on the ja606 board. A guy called john phones them saying that he emailed gerald krasner, that he works in the bank and didn't want it to be known that there history dies.
Doesn't matter whether it does or doesn't there tarnished now anyway. Only the rangers fans will maintain they keep it but to every other fan they will be seen as a newco, because thats what a pheonix company is. One that emerges from the death of the old one.
Can't fault you on that.
Good work Detective Cartman. If it wasn't for RIPA, you'd have the ****s phone tapped
Come on mouldy where are you?
The thought occurs that if rangers are to keep their history then there is just one problem. Since david murray bought rangers he has accrued debt to win titles, that they now have no intention of paying. Ultimately it can only be just if those titles were removed as they were won unfailry with money that isn't theres.
So thanks mouldy for your marvelous plan, i do agree wipe out there tainted nine in a row
Hopefully now you see the folly in your marvelous plan ya knob. Here's mouldy when he see's what he's done
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NO DOUGH, NO NINE IN A ROW
The thought occurs that if rangers are to keep their history then there is just one problem. Since david murray bought rangers he has accrued debt to win titles, that they now have no intention of paying. Ultimately it can only be just if those titles were removed as they were won unfailry with money that isn't theres.
So thanks mouldy for your marvelous plan, i do agree wipe out there tainted nine in a row
Hopefully now you see the folly in your marvelous plan ya knob. Here's mouldy when he see's what he's done
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Uploaded with ImageShack.us lol
NO DOUGH, NO NINE IN A ROW