Generic Sevco / Rangers meltdown thread

[Sergey]

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By the time they've got through this they'll be advising ***ushima.

And I'm off there in 2 weeks time!

Shirakawa, to be exact (白河市)

[down-the-slope]

So latest in layman summary...

Mr Whyte is a very naughty boy...

Administrators will be arguing that it was all the naughty boy and not Rangers (the clubs fault)....


Whyte will be the Patsy...Rangers avoid the lashes

[ancienthibby]

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So latest in layman summary...

Mr Whyte is a very naughty boy...

Administrators will be arguing that it was all the naughty boy and not Rangers (the clubs fault)....


Whyte will be the Patsy...Rangers avoid the lashes

If this process continues on, I think there's a whole bundle of trouble looming for some former RFC directors who Craikie Whyte exited!

[EuanH78]

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So latest in layman summary...

Mr Whyte is a very naughty boy...

Administrators will be arguing that it was all the naughty boy and not Rangers (the clubs fault)....


Whyte will be the Patsy...Rangers avoid the lashes

Dont think so, too much brown stuff about forRangers to possibly pin it all on Craig Whyte tbh, they aren't getting away with this imho

[Billy Whizz]

Rangers administrators looking for an advance from SPL to fulfill their fixtures until the end of the season. Similar to Gretna a few years ago

[CropleyWasGod]

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And I'm off there in 2 weeks time!

Shirakawa, to be exact (白河市)

Jeezo, travelogues now. This thread gets better and better.

Thank you, Judith Chalmers.

[CropleyWasGod]

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Rangers administrators looking for an advance from SPL to fulfill their fixtures until the end of the season. Similar to Gretna a few years ago

They can't really refuse. There is precedent, I suppose.

Tell em " aye okay, we'll advance you £1m. But we're fining you £2m first... so you're still due us £1m".

[blindsummit]

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They can't really refuse. There is precedent, I suppose.

Tell em " aye okay, we'll advance you £1m. But we're fining you £2m first... so you're still due us £1m".

it's unfortunate though as it means that the SPL will be subsidising them to continue to overpay players that can't afford to pay, so they can continue cheating the rest of us.

[DaveF]

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Rangers administrators looking for an advance from SPL to fulfill their fixtures until the end of the season. Similar to Gretna a few years ago

How much would they get? The prize money varies per place and they are by no means guaranteed second.

[CropleyWasGod]

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it's unfortunate though as it means that the SPL will be subsidising them to continue to overpay players that can't afford to pay, so they can continue cheating the rest of us.

Ach, it's just like giving a terminal patient some drugs to keep them alive in a vegetative state. Pain for all their loved ones, and prolonged agony (and perhaps false hopes) for them.

[blindsummit]

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Ach, it's just like giving a terminal patient some drugs to keep them alive in a vegetative state. Pain for all their loved ones, and prolonged agony (and perhaps false hopes) for them.

Now,if you look at it like that, maybe it's not so bad. keep 'em on mimimum life support for a while to prolong their suffering and our joy. I think you have converted me!

[CropleyWasGod]

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How much would they get? The prize money varies per place and they are by no means guaranteed second.

Good point. If the SPL decide to dock them points, or worse, they could end up well down the League. That might mean that they owed some of the advance back to the SPL,..... not a good idea.

Sorry, Blind Summit, I've changed my mind. ..... get my rubber gloves, nurse, this one's getting a right good fisting.

[Hibernia&Alba]

Tomorrow will be a big day in this ongoing soap opera, as we learn whether the threatened player redundencies go ahead. The morbidly obese Jim Traynor was saying on Sportsound that he thinks there will be very few if any, because an agreement with the players about wage cuts (deferrals) is very close, in which they'll accept cuts until the the end of the season in return for being allowed to leave on the cheap in the summer. We'll soon find out.

[Billy Whizz]

Administrators confirm that Craig Whyte is not the preferred creditor. Not sure where this leaves us?

[Eyrie]

A new bidder has emerged in the race to take over financially stricken SPL club Rangers. He is believed to be an elderly German with extensive business interests in Italy called Benedict Pope.

[CentreLine]

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So latest in layman summary...

Mr Whyte is a very naughty boy...

Administrators will be arguing that it was all the naughty boy and not Rangers (the clubs fault)....


Whyte will be the Patsy...Rangers avoid the lashes

It really smells like this was the intention all along, albeit the plan hasn't quite come together so far. I just can't help but feel that CW was always intended to be a "straw man" there specifically to get burned and to take as much of the debt as possible with him. Then we will see the true figure behind this coming forward as the knight in shining.........Oh!............................. Naw! Couldn't possibly be that simple?

As for D&P? Well their credibility has to be crumbling by the minute. Not too many people can be watching this fiasco and thinking "they're the company for me". Unless of course they are looking for an administrator to look after their own very substantial interests while shouting very loudly all the right things but being painfully slow in taking action. Just exactly how many times can they get away with crying wolf?

The players, the fans, employees, other SPL clubs and now the court, have had to listen to the poor poor Rangers story and how action is imminent and please please please can we have a CVA so that we can cheat the country and X number of creditors out of millions. But we would like to keep these assets for the new owners of this great institution.......Bla bla bla...............

[CropleyWasGod]

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Administrators confirm that Craig Whyte is not the preferred creditor. Not sure where this leaves us?

It leaves me feeling very smug, since I have been saying this since the day they were appointed.

It means that CW does not have first call on the company's assets. He is not a creditor.

[McSwanky]

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The morbidly obese Jim Traynor

[CropleyWasGod]

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It really smells like this was the intention all along, albeit the plan hasn't quite come together so far. I just can't help but feel that CW was always intended to be a "straw man" there specifically to get burned and to take as much of the debt as possible with him. Then we will see the true figure behind this coming forward as the knight in shining.........Oh!............................. Naw! Couldn't possibly be that simple?

As for D&P? Well their credibility has to be crumbling by the minute. Not too many people can be watching this fiasco and thinking "they're the company for me". Unless of course they are looking for an administrator to look after their own very substantial interests while shouting very loudly all the right things but being painfully slow in taking action. Just exactly how many times can they get away with crying wolf?

The players, the fans, employees, other SPL clubs and now the court, have had to listen to the poor poor Rangers story and how action is imminent and please please please can we have a CVA so that we can cheat the country and X number of creditors out of millions. But we would like to keep these assets for the new owners of this great institution.......Bla bla bla...............

... it has just taken a massive leap up for me, with their announcement that CW is not a preferred creditor. That knocks the stuffing out of much of the suspicion that he and they were acting together.

If they do get a CVA, it won't be them to blame. That's them doing their job. It'll be the fault of HMRC, who will be going back on their stated policy of opposing CVA's.

[CentreLine]

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... it has just taken a massive leap up for me, with their announcement that CW is not a preferred creditor. That knocks the stuffing out of much of the suspicion that he and they were acting together.

Not if he is the Straw Man. It would put the plan firmly on track and allow any number of sins to be attributed to his being a very naughty boy

[CropleyWasGod]

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Not if he is the Straw Man. It would put the plan firmly on track and allow any number of sins to be attributed to his being a very naughty boy

So what is the plan?

You tell me and I'll tell you mine

[CentreLine]

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So what is the plan?

I do not know but see my previous post for a suggestion

[easty]

Anyone see Gorams collumn in the Sun today?

I had my doubts about Craig Whyte from the off.

Too many questions were unanswered even before he completed his takeover last may..

But why learn from the past...

He goes on to say...

I don't know Paul Murray, but if he is willing to invest in Rangers then he'll do for me.

[hibsbollah]

Interesting that David Cameron refused to comment on Rangers when pressed in the Commons today. This is in contrast to him and Salmond's lobbying on behalf of the huns two weeks ago. Are they losing their political clout?

[CropleyWasGod]

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I do not know but see my previous post for a suggestion

Okay.

The reason I don't agree with you is that it presupposes that a CVA was always going to happen. Given that HMRC's policy is to oppose them, that's a helluva supposition to make. I know that Roddy Forsyth has said that HMRC might remove their objection in this case, but CW/AN Other couldn't possibly have forseen this.

If, however, a CVA does happen..... our anger should be directed at HMRC, not Duff & Phelps.

Now my version of "the plan"....

I reckon CW wanted to play this one straight(ish). He scammed the club, sure, by using the Ticketus money to pay off Lloyds. However, he was gambling on there being enough income generated by the club over the next few years to fill that hole. Particularly from the Champions League

That gamble failed the moment Malmo scored way back when.....

[greenginger]

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It leaves me feeling very smug, since I have been saying this since the day they were appointed.

It means that CW does not have first call on the company's assets. He is not a creditor.

This is D & P's decision, but can this be contested by Whyte. The waters are so murky I don't know it can be left to this company to make a decision like that on their own.

I think this must be good news for New-Co Huns that they won't have Whyte for a landlord.

[CropleyWasGod]

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Interesting that David Cameron refused to comment on Rangers when pressed in the Commons today. This is in contrast to him and Salmond's lobbying on behalf of the huns two weeks ago. Are they losing their political clout?

Hmmm.... Roddy Forsyth is of the opinion that HMRC are going to remove their objection to a CVA, and that it has been "sanctioned by the Treasury".

Either RF has got the wrong info, or DC is being evasive.

[hibee92]

Probably been talked about but i'm not going through the whole thread.

Will the huns demise effect the coefficient?

[CropleyWasGod]

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This is D & P's decision, but can this be contested by Whyte. The waters are so murky I don't know it can be left to this company to make a decision like that on their own.

I think this must be good news for New-Co Huns that they won't have Whyte for a landlord.

It may be contested, but I really can't see what his grounds would be. Every accountant and insolvency practitioner I have spoken to, and heard talking about it, have said the same as me.

[Billy Whizz]

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Probably been talked about but i'm not going through the whole thread.

Will the huns demise effect the coefficient?

If they erase their record it actually might improve it