The Rangers Saga and Fallout Thread

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Metalface Mark said:
You know why the Blue Knights was refused dont you, it meant D&P wouldnt get the money they expected out, no other reason.
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That is your opinion.

Having seen the formal letter of offer, it isn't 1 I share. There were too many contingencies. Including a ridiculous clause that would see creditors receive a payout if we got to Champions League group stages season 2012/13 despite not having a licence to compete in Europe, and a further payout if we reached the Champions League quarter final stage in season 2013/14. I don't know why they didn't go the whole way and insert a clause for a payout should we win the Champions League the following year. :rolleyes:

The administrators would still have the same fees, expenses and costs of realising the CVA, regardless of which offer was accepted, but the Green offer was better for creditors.
 
steve1873 said:
That is your opinion.

Having seen the formal letter of offer, it isn't 1 I share. There were too many contingencies. Including a ridiculous clause that would see creditors receive a payout if we got to Champions League group stages season 2012/13 despite not having a licence to compete in Europe, and a further payout if we reached the Champions League quarter final stage in season 2013/14. I don't know why they didn't go the whole way and insert a clause for a payout should we win the Champions League the following year. :rolleyes:

The administrators would still have the same fees, expenses and costs of realising the CVA, regardless of which offer was accepted, but the Green offer was better for creditors.
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The other problem they had was they stated they would pay out football creditors in full. HMRC would never have agree'd to that in a CVA so was always a non starter.
 
steve1873 said:
That is your opinion.

Having seen the formal letter of offer, it isn't 1 I share. There were too many contingencies. Including a ridiculous clause that would see creditors receive a payout if we got to Champions League group stages season 2012/13 despite not having a licence to compete in Europe, and a further payout if we reached the Champions League quarter final stage in season 2013/14. I don't know why they didn't go the whole way and insert a clause for a payout should we win the Champions League the following year. :rolleyes:

The administrators would still have the same fees, expenses and costs of realising the CVA, regardless of which offer was accepted, but the Green offer was better for creditors.
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They wouldnt have if there was no money to pay the administrators, that is how administrators get their money, if there is no money then administrators are not interested in administration, for example, If the company I own was in trouble, we would not be able to get an administration as there is little in the way of assets to realise, it would be straight liquidation, the same for 90% of companies who have financial trouble, administrators are only interested when they can make money, Duff and Phelps obviously stand to make more out of Rangers than anyone has in their entire history with this administration.
 
Metalface Mark said:
No Gav, he said Rangers will never be in debt again, he never stated at that point that it would be a loan, that only came out when the CVA was published.

You are completely incorrect on this one.
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so did you expect rangers to cut off their power supply and shut down their phones? What about their internet and water supplies?

As these are not paid for upfront, by your way of thinking, these could be considered as racking up debts....

Everyone else would see it as an operating debt but apparently "no debt" means exactly that. No kind of debt ever.

Have you ever considered a job in the media? You would fit right in at the BBC
 
As British Gas, Scottish Hydro and BT are on the list of creditors getting the CVA offer - I wouldn't assume they won't be insisting on cash up front in future, along with everything else.
 
I'm one Rangers fan who is not convinced with Green and Co. Despite all the rallying calls to say let's make sure this never happens again to be honest few have any real power to stop it.

In the 80s Rangers were sold for 6M now nearly 40 years later they are worth 5.5M after racking up 50M debt. I can only hope that the 14/15 investors in Rangers actually materialise after the CVA/liquidation/new co. route is sorted out.

More pressing matters for me however is the looming transfer window which opens on 1st July if I'm not mistaken. No too many players have came out and said they are leaving but we'll see during the summer how many go.
 
Gav said:
so did you expect rangers to cut off their power supply and shut down their phones? What about their internet and water supplies?

As these are not paid for upfront, by your way of thinking, these could be considered as racking up debts....

Everyone else would see it as an operating debt but apparently "no debt" means exactly that. No kind of debt ever.

Have you ever considered a job in the media? You would fit right in at the BBC
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You are being facetious. Its a bit of a stretch from a gas or electric bill to 8.5 million.

And as is stated above, if a CVA was agreed then it is highly likely that they would have to pay for services up front.
 
jas72 said:
I'm one Rangers fan who is not convinced with Green and Co. Despite all the rallying calls to say let's make sure this never happens again to be honest few have any real power to stop it.

In the 80s Rangers were sold for 6M now nearly 40 years later they are worth 5.5M after racking up 50M debt. I can only hope that the 14/15 investors in Rangers actually materialise after the CVA/liquidation/new co. route is sorted out.

More pressing matters for me however is the looming transfer window which opens on 1st July if I'm not mistaken. No too many players have came out and said they are leaving but we'll see during the summer how many go.
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The transfer window is already open.
 
What I would like to know is how would Mr Green be able to buy the existing assets for £5.5 million to set up his newco when they have been valued at around £115 million? Surely assets of that worth could be sold on to pay the creditors if the CVA fails?
 
Metalface Mark said:
They wouldnt have if there was no money to pay the administrators, that is how administrators get their money, if there is no money then administrators are not interested in administration, for example, If the company I own was in trouble, we would not be able to get an administration as there is little in the way of assets to realise, it would be straight liquidation, the same for 90% of companies who have financial trouble, administrators are only interested when they can make money, Duff and Phelps obviously stand to make more out of Rangers than anyone has in their entire history with this administration.
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Stating the obvious. It could hardly be the best deal for creditors if there was no money to pay for the administration process or the CVA could it?
 
My apologies, in Scotland it opens on July 1st.

In England the window opens on July 1st also, but transfers between clubs in the same association can occur before that as long as the season is finished.
 
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