Generic Sevco / Rangers meltdown thread

[Bad Martini]

I seem to recall joyously stating months ago it was a race to extinction for hertz and rangers.

I dont care which of them goes first. Imagine a world with neither? Can you imagine the plesant aura and deep joy this wid bring? Oyaa.

ENDOF

[CallumLaidlaw]

Court has taken a 10 minute break to instruct lawyers. News expected shortly. How exciting!!!

[Caversham Green]

Not much I can add to what CWGod and others have said. One point to make though, the administrator is an officer of the court not HMRC or Craig Whyte and he is expected to act in the best interests of the company, not the successful applicant for administration. I think HMRC have just said the legal equivalent of "Aye, right to that b*ll*cks".

Quite a few on here have said they thought there was a plan behind what Whyte was doing. Now if us humble Hobos can see that it's odd-on that the Revenue would have spotted it as well.

[hibs0666]

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Court has taken a 10 minute break to instruct lawyers. News expected shortly. How exciting!!!

Is this to do with the huns, the wee huns or something else entirely?

[Sylar]

If they wind up our Club I'll seriously consider leaving this country so they never get another penny from me.

Taken from FF

[CropleyWasGod]

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Taken from FF

Well, that's a good start....

[CallumLaidlaw]

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Is this to do with the huns, the wee huns or something else entirely?

The huns

[Pretty Boy]

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Taken from FF

Only another few hundred thousand to go then!

[magpie1892]

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Just been reported on Sky news about the latest moves from HMRC. Report was done from outside Ibrox, and I'm sure the reporter (James Mathews I think), was having trouble containing the odd smirk, and finished off with a 'very serious' face

Must be very hard to find an unbiased voice one way or the other, but I'm loving it!!!!

I know James a bit. He's a hibby.

[tamig]

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Oh happy days........

http://www.scotsman.com/edinburgh-ev...tion_1_2115642

Some of the comment son that story are beyond belief. Some folk are oblivious to the reality of the situation.

[happiehibbie]

Has any noticed that mr whtye is a SECURED CREDITOR which means he got rangers for a pound raised money from Ticket us to pay of the bank 18 million and guess what he is the first to be paid even befor HMRC should they go into Administration so for his pound he will get £18 million return

in other words not a bad bit of Business

[ScottB]

It's amazing that they don't seem to realise that this is money that has, in effect, been stolen from them, the Rangers fans, both in terms of their season ticket money, and money that should have been available to government / local authorities to spend improving the dump that is Govan or wherever they happen to be. This isn't the big bad HMRC trying to shut down an innocent club, this is HMRC fighting for all of us to get a substantial amount of cash that WE are due.

Let them and any other club guilty of the same burn for it. Especially in these times, such wilful cheating of the taxpayer must be punished to the maximum.

[silverhibee]

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It's possible Craig Whyte may not get his preferred creditor status:

http://leggoland2.blogspot.com/

Good reading


"Hibs kingpin Rod Petrie"

Its amazing what the press dont report, celtc fans fighting amongst them selfs up in Inverness where one fan was slashed across the face with a knife over songs being sung about the IRA.

And some folk want to have a sing song with this **** on Sunday.

[Hibby Bairn]

I wonder how many _________ (fill in blank with nurses, teachers, schools, hospitals, pot holes etc) £75m would pay for?

I fully expect the Glasgow press to start campaigning in this vein immediately so the taxpayer has surety that full value is extracted from the tax avoiders in Govan.There again maybe not.

Why is no Scottish journo interviewing the taxpayers alliance on this?

[bingo70]

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Court has taken a 10 minute break to instruct lawyers. News expected shortly. How exciting!!!

Don't think there would be any 'exciting news' coming out today will there?

I'd have thought the exciting times would come after the administrator, whoever appoints them, gets a look at their books and makes a decision on their future, surely there won't be any real significant news today, other than the fact they will go in administration but we knew that was likely to happen yesterday.

BTW, not sure if everyone else is the same but the huns have completely dissapeared off my facebook page, nothing about them saying they will be ok, none ****ing themselves and none biting back, where have they all gone? they surely cannae be supporting someone else already can they?

[IndieHibby]

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It's amazing that they don't seem to realise that this is money that has, in effect, been stolen from them, the Rangers fans, both in terms of their season ticket money, and money that should have been available to government / local authorities to spend improving the dump that is Govan or wherever they happen to be. This isn't the big bad HMRC trying to shut down an innocent club, this is HMRC fighting for all of us to get a substantial amount of cash that WE are due.

Let them and any other club guilty of the same burn for it. Especially in these times, such wilful cheating of the taxpayer must be punished to the maximum.

Well said. There are plenty innocent people with diminished services or no services at all, who would no doubt be livid if RFC were allowed to cheat them out of their basic needs in this way.

[Sylar]

According to one of the STV journalists, Court papers are on their way to appoint administrators:

Lawyer for #Rangers told court paperwork on its way to appoint administrators. HMRC questioned the validity of this move.

[Sylar]

http://news.stv.tv/scotland/west-cen...trators-today/

[GloryGlory]

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According to one of the STV journalists, Court papers are on their way to appoint administrators:

Lawyer for #Rangers told court paperwork on its way to appoint administrators. HMRC questioned the validity of this move.

This looks like Whyte trying to forestall HMRC by appointing his administrators now, instead of next week.

[TornadoHibby]

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Don't think there would be any 'exciting news' coming out today will there?

I'd have thought the exciting times would come after the administrator, whoever appoints them, gets a look at their books and makes a decision on their future, surely there won't be any real significant news today, other than the fact they will go in administration but we knew that was likely to happen yesterday.

BTW, not sure if everyone else is the same but the huns have completely dissapeared off my facebook page, nothing about them saying they will be ok, none ****ing themselves and none biting back, where have they all gone? they surely cannae be supporting someone else already can they?

Can't imagine that all of that has not already been done, i.e. the establishing of the RFC financial position!

[Haymaker]

... So... It's on!

[Part/Time Supporter]

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This looks like Whyte trying to forestall HMRC by appointing his administrators now, instead of next week.

HMRC's legal argument is they Rangers can't appoint an administrator for five days, ie after the period specified in yesterday's legal filing. The Huns will need a sympathetic judge...

[stokesmessiah]

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Don't think there would be any 'exciting news' coming out today will there?

I'd have thought the exciting times would come after the administrator, whoever appoints them, gets a look at their books and makes a decision on their future, surely there won't be any real significant news today, other than the fact they will go in administration but we knew that was likely to happen yesterday.

BTW, not sure if everyone else is the same but the huns have completely dissapeared off my facebook page, nothing about them saying they will be ok, none ****ing themselves and none biting back, where have they all gone? they surely cannae be supporting someone else already can they?

I just posted a message on my FB saying exactly the same.....very quiet.

[TornadoHibby]

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Has any noticed that mr whtye is a SECURED CREDITOR which means he got rangers for a pound raised money from Ticket us to pay of the bank 18 million and guess what he is the first to be paid even befor HMRC should they go into Administration so for his pound he will get £18 million return

in other words not a bad bit of Business

Whether he ends up as a preferred creditor will, amongst other matters including those of a "technical" nature, depend upon the actual circumstances of how the Lloyds loan was repaid and by whom and, if by CW or a company owned and controlled by him, whether the security to the lender for that advance to RFC to allow repayment of the Lloyds £18million was properly constituted, executed and registered!

[GloryGlory]

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HMRC's legal argument is they can't do this because they filed the papers yesterday giving them a five day window to negotiate with creditors. The Huns will need a sympathetic judge...

And as Whyte admitted on TV last night that Rangers cannot afford to pay the tax bill, I would think HMRC's counsel would be highlighting this to the judge (not to mention Whyte's previous as an unreliable witness and unfit company director). It would be a brave judge that took Rangers' side, because I would imagine HMRC would appeal immediately to the Inner House.

Looks like Whyte's last, desperate throw of the dice, IMO!

[CropleyWasGod]

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Has any noticed that mr whtye is a SECURED CREDITOR which means he got rangers for a pound raised money from Ticket us to pay of the bank 18 million and guess what he is the first to be paid even befor HMRC should they go into Administration so for his pound he will get £18 million return

in other words not a bad bit of Business

No he won't.

He paid off the bank with £18m, and at that stage was a secured c reditor.

IF (and that's not clear yet) he used the Ticketus money, then he is no longer a creditor. Indeed, he owes RFC £6m.

[Hibby Bairn]

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HMRC's legal argument is they Rangers can't appoint an administrator for five days, ie after the period specified in yesterday's legal filing. The Huns will need a sympathetic judge...

which is very likely.

[cabbageandribs1875]

it appears sellick have just won the league today

[alfie]

So if it is proved the Ticketus deal was done prior to the purchase of RFC, that throws his whole secured creditor status out the windae?

[stokesmessiah]

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it appears sellick have just won the league today

I think they won it the day they overtook a 15pt difference.