Generic Sevco / Rangers meltdown thread

[jgl07]

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To be fair Gretna got to struggle on to the end of the season even though it was pretty clear they had no future.

That was only because the SPL effectively bankrolled them till the end of the season to avoid the aggravation that would follow from teams if they had to wipe out Gretna's fixtures from the results.

The SPL would certainly not have the cash to bankroll Rangers.

[grunt]

Don't know if this is true or not...

Tweet - HMRC Telford VAT recovery Unit have secured a session at High Court for 14:00 today to obtain an injunction to remove D&P.

[down-the-slope]

I am trying to forget yesterdays second half...My Cup Final Ticket application is safely in the hands of the TO....can someone not just complete my day with substantive news of there final demise

However...its not been mentioned for ages, but I am convinced that for a wide range of reason both D&P / SPL are desparate for them to fulfill fixtures otherwise the concequences would be massive. This was IMO the reason for the players wage reduction agreement length...as without it they would never have made it...I expect them to be liquidated within hours of final match on 12th May...But it may be that the up front payment for preffered bidder status is required to keep cash flow till then (anyone else think its odd that this was widely reported as being £1 million....but recent days have seen this reduced to £500k )

[grunt]

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(anyone else think its odd that this was widely reported as being £1 million....but recent days have seen this reduced to £500k )

I saw that. Also noted the complete and utter lack of comment on the 50% cut from those bloodhounds in the Scottish media.

[Caversham Green]

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That was only because the SPL effectively bankrolled them till the end of the season to avoid the aggravation that would follow from teams if they had to wipe out Gretna's fixtures from the results.

The SPL would certainly not have the cash to bankroll Rangers.

True, but there is some money available to the administrators within the club itself as well as the SPL money that will become due. The administrators have claimed that they have enough to carry on to the end of the season, whether that is the right thing to do within their remit is debatable, but that was also true of the Gretna situation.

[Caversham Green]

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Don't know if this is true or not...

That could be where the BDO rumours are coming from - no doubt HMRC would have replacements lined up if they moved to replace D&P. Why the High Court though?

[grunt]

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That could be where the BDO rumours are coming from - no doubt HMRC would have replacements lined up if they moved to replace D&P. Why the High Court though?

As much as I'd like to believe this, I am very wary of putting too much faith in unsubstantiated posts on Twitter. I just thought I'd share it.

[ScottB]

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I am trying to forget yesterdays second half...My Cup Final Ticket application is safely in the hands of the TO....can someone not just complete my day with substantive news of there final demise

However...its not been mentioned for ages, but I am convinced that for a wide range of reason both D&P / SPL are desparate for them to fulfill fixtures otherwise the concequences would be massive. This was IMO the reason for the players wage reduction agreement length...as without it they would never have made it...I expect them to be liquidated within hours of final match on 12th May...But it may be that the up front payment for preffered bidder status is required to keep cash flow till then (anyone else think its odd that this was widely reported as being £1 million....but recent days have seen this reduced to £500k )

I would assume if they fail to fulfil their fixtures they get booted out the league, meaning no SPL license for a newco to try and takeover, which would instantly reduce the value of the business, hence the massive effort to keep them staggering on.


I would have thought HMRC and the other creditors would be starting to apply serious pressure by now? This is what, the third extension of the final bidder deadline, there seems to be no serious offer on the table. At what point are D&P forced to come to the conclusion that liquidation is the only viable option?

[Caversham Green]

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As much as I'd like to believe this, I am very wary of putting too much faith in unsubstantiated posts on Twitter. I just thought I'd share it.

I have to agree. BDO do seem to be getting a lot of name checks from apparently different sources though.

[PatHead]

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I have to agree. BDO do seem to be getting a lot of name checks from apparently different sources though.

BDO better be careful or all "Rangers minded" people will stop using them for their liquidations!!!!!!!

[WarringtonHibee]

For anyone who's not done the survey from the other thread yet - get it done before 6PM and ***tell everyone*** as we're meeting the SPL tomorrow.

Get it on your twitter, email it to all your contacts, get it on yer Facebook page!

http://www.splsurvey.co.uk - getting close to 16,000 responses.

[jgl07]

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I would assume if they fail to fulfil their fixtures they get booted out the league, meaning no SPL license for a newco to try and takeover, which would instantly reduce the value of the business, hence the massive effort to keep them staggering on.

I would have thought HMRC and the other creditors would be starting to apply serious pressure by now? This is what, the third extension of the final bidder deadline, there seems to be no serious offer on the table. At what point are D&P forced to come to the conclusion that liquidation is the only viable option?

The problem is that with the Big Tax Case still hanging there any 'bids' must be so heavily qualified as to be of no use whatsoever.

How can a CVA be agreed if no-one knows the full extent of the liabilities? Will the 10 pence in the pound deal turn out to be 5 pence?

In my view liquidation will take place on Monday 14 May immediately after the last SPL fixtures of the season.

Then the fun will really begin!

[Caversham Green]

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BDO better be careful or all "Rangers minded" people will stop using them for their liquidations!!!!!!!

Either that or they'll stop playing darts.

[Seveno]

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That's an odd one. Liquidation would need an application to the court and while RFC are in administration the only people who could apply are the administrators. If they did decide on liquidation they would probably look to carry out the process themselves.

If it's not just an idle rumour (BDO have cropped up a few times recently) it may be that HMRC are going to apply for the removal of Duff & Phelps and have approached BDO to offer themselves for appointment in D&P's place. That's just guesswork though.

That was certainly my guess, not to say desire.

[Hibernia&Alba]

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The problem is that with the Big Tax Case still hanging there any 'bids' must be so heavily qualified as to be of no use whatsoever.

How can a CVA be agreed if no-one knows the full extent of the liabilities? Will the 10 pence in the pound deal turn out to be 5 pence?

In my view liquidation will take place on Monday 14 May immediately after the last SPL fixtures of the season.

Then the fun will really begin!

We must remain positive

[killie-hibby]

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I would assume if they fail to fulfil their fixtures they get booted out the league, meaning no SPL license for a newco to try and takeover, which would instantly reduce the value of the business, hence the massive effort to keep them staggering on.


I would have thought HMRC and the other creditors would be starting to apply serious pressure by now? This is what, the third extension of the final bidder deadline, there seems to be no serious offer on the table. At what point are D&P forced to come to the conclusion that liquidation is the only viable option?

If liquidated, would Hibs or Dunfermline still be relegated?

[TheEastTerrace]

The soap saga continues.....

http://www.bbc.co.uk/sport/0/football/17811695

I'm no expert but if the bids are still not 'capable of acceptance by the administrators', where does this end? They've been at this for months now - all I read about is talks with this bidder, talks with that bidder. A bloody farce.

Am I the only one who now thinks they are dragging this corpse up until all remaining fixtures are fulfilled, before the inevitable liquidation?

[ScottB]

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If liquidated, would Hibs or Dunfermline still be relegated?

Not sure what happens if Rangers liquidate after they complete their fixtures, the chat about a newco coming straight back would suggest the bottom club would go down (though I'd expect a hell of a legal fight).

If Rangers liquidate before the end of the season and can't play games then they are out, their matches removed from the record and nobody goes down, I'd have thought anyway...

[SteveHFC]

Can they just ****ing die?

[PatHead]

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If liquidated, would Hibs or Dunfermline still be relegated?

That is the million dollar question.

(No according to Cheshire and Lancashire Hibs' survey and about everyone I know. Yes according to SPL board.)

[jgl07]

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If liquidated, would Hibs or Dunfermline still be relegated?

According to the BBC yes. Two clubs would be promoted.

I think that one came straight from a Neil Doncaster press release. All designed to try and convince Hibs and Dunfermline to vote for a Newco as there would be no reason to vote against. It also repeated the guff about the acceptance of the Newco being a majority decision by the SPL Board rather than an 11-1 vote by member clubs.

I don't believe a word that Doncaster says. He kept telling us that agreement had been reached over a 10-team SPL when self-evidently it had not been.

Once Rangers have been ousted, Doncaster should be the next target.

Norwich have not looked back since he left them!

[ScottB]

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According to the BBC yes. Two clubs would be promoted.

I think that one came straight from a Neil Doncaster press release. All designed to try and convince Hibs and Dunfermline to vote for a Newco as there would be no reason to vote against. It also repeated the guff about the acceptance of the Newco being a majority decision by the SPL Board rather than an 11-1 vote by member clubs.

I don't believe a word that Doncaster says. He kept telling us that agreement had been reached over a 10-team SPL when self-evidently it had not been.

Once Rangers have been ousted, Doncaster should be the next target.

Norwich have not looked back since he left them!

I'd love to see where that is in the rulebook...

This would be another club from a first division that is too weak to promote more than one club out of according to the powers that be is it? Stuff an nonsense, it really is.

If Rangers go bust mid season and can't play games, they simply have to be punted out. I suspect this is why the sweat will currently be pouring down Doncasters brow. The ability to keep them in the top league, already tenuous at best surely goes out the window if that happens...

[IndieHibby]

Anyone know what's about to be announced on SSN?

[TamHibs]

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Anyone know what's about to be announced on SSN?

I would assume it will be to do with HMRC's attempts to gain an injunction to remove Duff & Phelps as Administators.


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I am here: http://tapatalk.com/map.php?xpnx5c

[greenginger]

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According to the BBC yes. Two clubs would be promoted.

I think that one came straight from a Neil Doncaster press release. All designed to try and convince Hibs and Dunfermline to vote for a Newco as there would be no reason to vote against. It also repeated the guff about the acceptance of the Newco being a majority decision by the SPL Board rather than an 11-1 vote by member clubs.

I don't believe a word that Doncaster says. He kept telling us that agreement had been reached over a 10-team SPL when self-evidently it had not been.

Once Rangers have been ousted, Doncaster should be the next target.

Norwich have not looked back since he left them!

Clause H5 on page 68 of the SPL rules could not be any simplier and cannot be misinterpreted.

" If any Club in the league ceases to operate or to be member of the League for any reason, its playing record in the League may be expunged and the number of relegation places from the League shall be reduced accordingly. "

That is the situation if der Hun expires before the end of the Season.

[Lofarl]

May being the keyword in that rule.

[Spike Mandela]

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Anyone know what's about to be announced on SSN?

Well? What was it?

[stokesmessiah]

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Well? What was it?

Probably the usual from SSn..The Tea lady has just arrived with extra digestives which has been confiscated by D&P and put up on Ebay to increase revenue.

[Brando7]

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Probably the usual from SSn..The Tea lady has just arrived with extra digestives which has been confiscated by D&P and put up on Ebay to increase revenue.

Did they no just pay her off to cover the weekends win bonus

[greenginger]

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May being the keyword in that rule.

I read it that the " may " word applies only to the expunging of the league record. If it were to apply to the relegation position a second

" may " would have been inserted in place of the word " shall " in the last line.