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Rangers Into Administration


Red Dragon

Opinion of the news?  

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  1. 1. Best news ever?

    • Yes
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rather than pissing about with league fixtures which I agree are easily replaced I would rather see an undertaking that at the SPL meeting on the 18th that a fairly thorough legal update is provided on the dual contracts. Doesn't need to be finished, we don't need evidence of 73 miscreants, just 1 (and plenty websites have indicated where to start looking) so the statement would be "look we've enough here to bin them and we're expecting more." This would avoid a situation that looks increasingly likely that OK they're in, next season has started and, lo and behold here's a legal issue for us all to discuss but too late to do anything.

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Online post on Rangers situation so far

Former Rangers Directors, using fans groups have continually tried to usurp the sales process, even though they don't have the wherewithall to buy the club themselves.

This jealousy and infighting will continue together with hate fullness towards outsiders; Miller, Ng, Green, et all...

 

D&P have brought the club to even more indebtedness than when the took control of it.......

 

The SPL Chairmen are siding with their fans/ customers/ stakeholders and will not allow a new company into the SPL.

 

The SFA are imminently about to revoke membership/ license for at least one year.

 

UEFA/ Fifa are doing their thing behind the scenes on numerous issues, going to court, non payment of European clubs, illegal payments, double contracts, non payment of statutory taxes,........

 

HMRC big tax case . Likely to liquidate and have named their own liquidators and have them inserted into the CVA.

 

Green's CVA woefully inept. Even selling players brings in more. Doomed to complete failure. 50% of 276 creditors need to vote yes and they get lots more from liquidation!

 

D&P have racked up

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........

 

RFFF raising money possibly illegally, not a registered charity nor a company, not paying tax on raised funds, no licenses to collect in public. Spending the funds unwisely and in a different fashion to promises at point of collection.

........

 

 

I would just love it if this were true :hysterical:

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Financially, the administration saga has now reached the stage of a CVA being offered to the many creditors. This farce, where no confirmed amount is actually being offered, can only end one way: in rejection. What creditor is going to vote in favour of a proposal with so many holes in it? With so many TBCs where figures should be? Where the sum they would actually receive

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Saw this and did my nut:

 

Graham Spiers ‏@GrahamSpiers

 

I'm a traditionalist. As bedevilled as Rangers are, I don't fancy Ibrox being sacrificed on the altar of 'naming rights'. Dreadful business.

 

https://twitter.com/...095744260317184

 

Aye never mind the whole defrauding the government and country and other businesses and football teams. No, that's a by the by. Possibly renaming the stadium, now that's "dreadful business".

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EUREKA!!! Get all ten (proper spl clubs) together. We all go into administration simultaneously, we all clear our debt, we all take the 10 point penalty and start next season on a level playing field! Simples! ( let Celtic have a tainted title)

and then wait until Dundee United or Hearts go into Administration first and then turn around and go:

 

"on second thoughts....let's just see how we get on"

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Well for one many of the clubs owe their money to their owners so there is little to be gained by doing this.

 

And for another we'd all struggle to find any bank that would touch us in future meaning no credit line available to clubs meaning end of the line for us all.

I speak in jest!

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I was just thinking how horrible it would be if a Newco did get in. This is the first time that it has really sunk in that this is a possibility and it would be horrible for any club to gain that sort of advantage.

 

Newco in, no debt and they are the most profitable club in the league. Allowing them to do this would be complete suicide for the league surely as that would give one team a whoore o an advantage. Now I don't think that this is a possibility but if this does happen without sanctions to match the crime then one team will have had cheating lead to the best business ANY football club have ever done, be that inadvertently or otherwise.

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I was just thinking how horrible it would be if a Newco did get in. This is the first time that it has really sunk in that this is a possibility and it would be horrible for any club to gain that sort of advantage.

 

Newco in, no debt and they are the most profitable club in the league. Allowing them to do this would be complete suicide for the league surely as that would give one team a whoore o an advantage. Now I don't think that this is a possibility but if this does happen without sanctions to match the crime then one team will have had cheating lead to the best business ANY football club have ever done, be that inadvertently or otherwise.

 

Yup, so much of an advantage they already have 19 players lined up, 5 of which are at the Euros... :confused:

 

The fuckers should be chucked out of the game, end of. Years of financial doping, tax dodging, contractual swindles and manager pay offs for buying players, yet the SFA and SPL are still pussy footing around while the BBC and other MSM sources are still force feeding us shite about Scottish football dying if they go out of business. I hate to break it to them but Scottish football died years ago and the league has been uncompetitive since the 80's which just so happens to be the last time the infirm were in the shite and just before they restructured the league to make sure they always finished on top.

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Never noticed the new smiley lolengland.gif.

 

Anyways was bored:

The principle of wrongful trading was introduced in the Insolvency Act 1986, to complement the concept of fraudulent trading. Unlike fraudulent trading, wrongful trading needs no finding of 'intent to defraud' (which requires a heavy burden of proof). Wrongful trading is therefore a less serious, and more common offence than fraudulent trading.

Under UK insolvency law,[1] wrongful trading occurs when the directors of a company have continued to trade a company past the point when they:

  • "knew, or ought to have concluded that there was no reasonable prospect of avoiding insolvent liquidation"; and
  • they did not take "every step with a view to minimising the potential loss to the company’s creditors".

Wrongful trading is an action that can be taken only by a company's liquidator, once it has gone into insolvent liquidation. (This may be either a voluntary liquidation - known as Creditors Voluntary Liquidation, or compulsory liquidation). It is not available to the directors of a company while it continues in existence, or to other insolvency office-holders such as an administrator.

 

Where, during the course of a winding-up, it appears to the liquidator that wrongful trading has occurred, the liquidator may apply to the Court for an order that any persons who were knowingly parties to the carrying on of such business are to be made liable to make such contributions to the company's assets as the court thinks proper.

...

In order to establish liability, the liquidator needs to demonstrate, using the civil burden of proof (i.e. on the balance of probabilities) that the directors continued trading the company beyond a point in time when they knew, or ought to have ascertained, that insolvent liquidation was inevitable.

...

The normal approach to wrongful trading actions is that the liquidator will try to establish a date at which the company can be shown to be balance sheet insolvent, and then show why it was unreasonable for directors to continue to trade after this.

 

>wiki<

Might be a bit of optimism bias here but if Rangers have been trading on tic for years and years and are then wound up could the directors be personally liable to the creditors? I'm meaning the point where D&P get replaced following a failed CVA.

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tbh ive given up on fitba, these scum will be allowed to play in the spl with only a 10 point penalty, whether as a newco or as the old hun. i cannot see the spl/sfa uefa or anyone standing up and being counted. am afraid i have lost any belief in fairness when these scum have been allowed to continue for so long in the situation they are in.

 

ill save myself a lot of cash by not travelling to see the dons but my faith in those running the game has gone, and i am sure im not alone.

these cnuts should have been thrown out as soon as the size of the issue became clear and all this pussy footing around has only come to make me furious with the whole set up.

 

i think ill be dusting down my fishing rods next season

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Latest on Rangersmedia being a thread called 'Tax Issues vs Abusing Kids' ... no I'm not kidding... where a poster by the name of 'Swally' raises the point that Rangers crime of Tax Evasion isn't as bad as abusing kids.

 

I wonder if this is typical of criminals, who will compare their own crime with a greater crime in order to justify or minimise their own crime?

 

"I may have murdered someone... but, hey, at least I didn't kill two people.... amiright?"

 

Well, in light of the fact there was a genocide in Rwanda, I'm feeling a lot better about setting fire to my neighbour's shed as a kid.

 

:thumbs:

 

Rangers fans truly are as shameless as they are ignorant and arrogant.

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Latest on Rangersmedia being a thread called 'Tax Issues vs Abusing Kids' ... no I'm not kidding... where a poster by the name of 'Swally' raises the point that Rangers crime of Tax Evasion isn't as bad as abusing kids.

 

I wonder if this is typical of criminals, who will compare their own crime with a greater crime in order to justify or minimise their own crime?

 

"I may have murdered someone... but, hey, at least I didn't kill two people.... amiright?"

 

Well, in light of the fact there was a genocide in Rwanda, I'm feeling a lot better about setting fire to my neighbour's shed as a kid.

 

:thumbs:

 

Rangers fans truly are as shameless as they are ignorant and arrogant.

Holy shite. :nutso:

 

Whataboutery gone mad.

 

:spanner:

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Quote

 

The Revenue are well aware of Charles Green's plans. HMRC know all too well that Charles Green wants to move at breakneck speed to plunge Rangers into Liquidation if the CVA he and Duff and Phelps have stitched up is rejected .

Plunging Rangers into Liquidation would allow Charles Green and his shadowy and shady cohorts to be free to buy around

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Latest on Rangersmedia being a thread called 'Tax Issues vs Abusing Kids' ... no I'm not kidding... where a poster by the name of 'Swally' raises the point that Rangers crime of Tax Evasion isn't as bad as abusing kids.

 

I wonder if this is typical of criminals, who will compare their own crime with a greater crime in order to justify or minimise their own crime?

 

"I may have murdered someone... but, hey, at least I didn't kill two people.... amiright?"

 

Well, in light of the fact there was a genocide in Rwanda, I'm feeling a lot better about setting fire to my neighbour's shed as a kid.

 

:thumbs:

 

Rangers fans truly are as shameless as they are ignorant and arrogant.

 

Wow.

 

You'd hope it would be a Tim troll on the wind up however sadly that does seem to be a fairly avergae mentality for a hun to have.

 

I can't wait 'til these cunts die.

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why are we posting the inane ramblings of David Leggat ? A sectarian bigot, who has routinely bad mouthed Aberdeen , he isnt even a proper journalist...

 

 

I dont think any members on this thread are proper journalists just giving their opinions on this saga :dontknow:

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Leggat is an utter cunt , dont post his pish

 

Quote

 

HERE is the gospel according to proven liar Charles Green. Bamboozle them with bullshit! Confuse them with crap!

And fair play to him. Charles Green's bullshit has got Rangers supporters well and truly bamboozled. Charles Green's crap has got Rangers fans well and truly confused.

Or at least his bullshit and crap has got some Rangers fans

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Latest on Rangersmedia being a thread called 'Tax Issues vs Abusing Kids' ... no I'm not kidding... where a poster by the name of 'Swally' raises the point that Rangers crime of Tax Evasion isn't as bad as abusing kids.

 

I wonder if this is typical of criminals, who will compare their own crime with a greater crime in order to justify or minimise their own crime?

 

"I may have murdered someone... but, hey, at least I didn't kill two people.... amiright?"

 

Well, in light of the fact there was a genocide in Rwanda, I'm feeling a lot better about setting fire to my neighbour's shed as a kid.

 

:thumbs:

 

Rangers fans truly are as shameless as they are ignorant and arrogant.

Wow, one hun cunt actually comes in with a sensible view and is totally hounded with sectarian bile.

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