NEW HUNS Ltd

[greenginger]

They are getting rather excited on Kerrydale Street.

New company registered today at Companies House-

GLASGOW RANGERS FOOTBALL CLUB LTD. They think Whyte ready to scuttle HUNS mark 1 and try a relaunch.


Personally, I think its just some wide boy grabbing the name to sell to the Huns if the BIG Tax case goes badly. :thumbsup:

[Cabbage East]

:greengrin

[Thecat23]

They are getting rather excited on Kerrydale Street.

New company registered today at Companies House-

GLASGOW RANGERS FOOTBALL CLUB LTD. They think Whyte ready to scuttle HUNS mark 1 and try a relaunch.


Personally, I think its just some wide boy grabbing the name to sell to the Huns if the BIG Tax case goes badly. :thumbsup:

I posted this on another thread in here last week that Whyte wants to re-brand Rangers and call them Glasgow Rangers Football Club.

If that happens will that mean Rangers will start with zero history? Like Airdre. Yes the history of what they did until then would still be there but any cups won after would start as 1.

[Future17]

They are getting rather excited on Kerrydale Street.

New company registered today at Companies House-

GLASGOW RANGERS FOOTBALL CLUB LTD. They think Whyte ready to scuttle HUNS mark 1 and try a relaunch.


Personally, I think its just some wide boy grabbing the name to sell to the Huns if the BIG Tax case goes badly. :thumbsup:

How totally and utterly pointless.

[green glory]

http://wck2.companieshouse.gov.uk/ee240fe9952e845cec2e14af2bbb2607/compdetails

Some people on pieandbovril talking about this. A new company called Glasgow Rangers Ltd. Registered with Companies House in England, this very day.

Thoughts?

[LancashireHibby]

See here (http://www.hibs.net/showthread.php?220045-NEW-HUNS-Ltd) :wink:

[Makaveli]

I posted this on another thread in here last week that Whyte wants to re-brand Rangers and call them Glasgow Rangers Football Club.

If that happens will that mean Rangers will start with zero history? Like Airdre. Yes the history of what they did until then would still be there but any cups won after would start as 1.

Aye, no little stars on their manky strip if they take this route. :agree:

[Gingertosser]

If they were to fold and come back under another name, how does this work ?

Can they still claim to be established in 18canteen?
Can they still have 5 stars symbolising 50 league titles?
Can the players walk away if they go into administration?

I'm still a bit confused about all of this, it seems a little simple to change your name and everything just goes away :confused:

[Killiehibbie]

Without knowing who registered the name it could be a case of somebody getting in there first to try and sell it to Whyte if he ever wants the name.

[Antifa Hibs]

http://twitter.com/#%21/Pmacgiollabhain

Down to their last 200k? The wee'er huns to follow fingers cross :brokenyam:

[greenginger]

Two new Huns Companies seem to have been registered today both by the same Solicitors.

Glasgow Rangers Football Club LTD Co. Number 07821463


Glasgow Rangers LTD Co. Number 07821576


Its a Plague of huns :greengrin

[steakbake]

Without knowing who registered the name it could be a case of somebody getting in there first to try and sell it to Whyte if he ever wants the name.

I would LOVE IT if that was what was happening.

[PaulSmith]

Registered in England, is this a manovre to get into the EPL... Or a cheeky Celtc fan at it?

[MB62]

Without knowing who registered the name it could be a case of somebody getting in there first to try and sell it to Whyte if he ever wants the name.

Wouldn't put it past a whole load of soap dodgers to head to register house and register everything under the sun which includes the name rangers, if it's free to do such a thing of course :dunno: :greengrin

[Part/Time Supporter]

Wouldn't put it past a whole load of soap dodgers to head to register house and register everything under the sun which includes the name rangers, if it's free to do such a thing of course :dunno: :greengrin

Costs about £50 to DIY quickly. I doubt if even a Sellick fan is that sad.

[green glory]

Bugger, you stole my thunder!!!

I'm not sure how this works when Scottish companies, operating solely in Scotland have to be registered in Scotland. Scots law and all that.

It looks dodgy, as the nature of the business is 'none supplied'. Hmm.

Anyway, when do we get the sequel, 'Rangers - The Demise'? :na na:

[Nando™]

Costs about £50 to DIY quickly. I doubt if even a Sellick fan is that sad.
Not even remotely sad if it might net you thousands or millions.

[H18sry]

When Airdrie went defunct, did they not have to start again in Div 3?
:pray:

[Barney McGrew]

When Airdrie went defunct, did they not have to start again in Div 3?
:pray:

That would be be question too - I'm fairly sure that if Rangers go bump, then they'd need to be re-elected to the Scottish League again.

[ScottB]

Not even remotely sad if it might net you thousands or millions.

Pretty sure they could be sued for it though, it'd be a hassle to Rangers of course, but nobody is going to make a fortune out of it, particularly when you consider the thing you're hoping to fork out the cash is basically bust!

[SteveHFC]

Let's hope the Huns go bust :pray:

[Hibernia Na Eir]

They are getting rather excited on Kerrydale Street.

New company registered today at Companies House-

GLASGOW RANGERS FOOTBALL CLUB LTD. They think Whyte ready to scuttle HUNS mark 1 and try a relaunch.


Personally, I think its just some wide boy grabbing the name to sell to the Huns if the BIG Tax case goes badly. :thumbsup:

MAke that Leith too.

[steakbake]

When Airdrie went defunct, did they not have to start again in Div 3?
:pray:

I was strangely reading a few newspaper articles when looking for information about teams that have not paid their players. Hearts keep the illustrious company of Portsmouth, Plymouth Argyle and Gretna as being UK teams which recently have not paid their players.

Anyhow, there was a section in one article talking about the penalty for going into admin. Motherwell went into administration, as did Dundee and Livingston and were not given any points deduction. Gretna were docked 10 points, relegated then demoted to the 3rd because there was a risk they could not fulfil their fixtures. Livingston were demoted to the 3rd because they breached the SFL's rules on insolvency.

So, expect nothing.

[LancashireHibby]

I was strangely reading a few newspaper articles when looking for information about teams that have not paid their players. Hearts keep the illustrious company of Portsmouth, Plymouth Argyle and Gretna as being UK teams which recently have not paid their players.

Anyhow, there was a section in one article talking about the penalty for going into admin. Motherwell went into administration, as did Dundee and Livingston and were not given any points deduction. Gretna were docked 10 points, relegated then demoted to the 3rd because there was a risk they could not fulfil their fixtures. Livingston were demoted to the 3rd because they breached the SFL's rules on insolvency.

So, expect nothing.

Didn't Motherwell do it before those penalties were brought in though, which was mainly a reaction to Leicester going in to administration and then romping to the Championship title (I'm sure our resident Foxes will correct me if I'm wrong on that!)

[steakbake]

Didn't Motherwell do it before those penalties were brought in though, which was mainly a reaction to Leicester going in to administration and then romping to the Championship title (I'm sure our resident Foxes will correct me if I'm wrong on that!)

Yes, possibly. Gretna went into administration after Motherwell and were docked 10 points, so perhaps the precedent has been set by the Gretna situation?

[dwlt]

They are getting rather excited on Kerrydale Street.

New company registered today at Companies House-

GLASGOW RANGERS FOOTBALL CLUB LTD. They think Whyte ready to scuttle HUNS mark 1 and try a relaunch.


Personally, I think its just some wide boy grabbing the name to sell to the Huns if the BIG Tax case goes badly. :thumbsup:

Douglas Fraser, BBC Scotland's business editor, just posted (https://twitter.com/#!/dglsf/status/128847069246005248) this to Twitter:


On the trail of Gerard Moran, Bucks, director of 2 new registered companies that could be shells for post-administration 'Glasgow Rangers'

Curiouser and curiouser...

[NYHibby]

Registered in England, is this a manovre to get into the EPL... Or a cheeky Celtc fan at it?


I'm not sure how this works when Scottish companies, operating solely in Scotland have to be registered in Scotland. Scots law and all that.


I don't have time to write a full reply right now but that is not how it works. For example, the current holding company of Rangers is registered in England.

Surely there is a difference between a club going defunct and a "different" party buying the assets of the company (the football club and stadium) out of administration.

[ScottB]

I don't have time to write a full reply right now but that is not how it works. For example, the current holding company of Rangers is registered in England.

Surely there is a difference between a club going defunct and a "different" party buying the assets of the company (the football club and stadium) out of administration.

But surely the licence to be in the league can't just be bought, which is the key factor.

They will need to liquidate Rangers FC with all of its debt, with new companies getting hold of the assets etc. But presumably the licence would remain with Rangers FC along with the debt, as that is part of that legal identity. Any new Glasgow Rangers would be something else, and I don't see how they could get away with claiming the right to take old Rangers place without taking on its debts too.

[AndyM_1875]

But surely the licence to be in the league can't just be bought, which is the key factor.

They will need to liquidate Rangers FC with all of its debt, with new companies getting hold of the assets etc. But presumably the licence would remain with Rangers FC along with the debt, as that is part of that legal identity. Any new Glasgow Rangers would be something else, and I don't see how they could get away with claiming the right to take old Rangers place without taking on its debts too.

Dundee and Motherwell paid their creditors (including HMRC) back something like 6p - 10p in the pound.

Rangers biggest creditor now is Craig Whyte. He'll own them lock stock and barrell regardless. Even if they went to the wall he would get first dibs on Ibrox and Murray Park but that won't happen.

What he may be doing is positioning them to split the football operating side off and then dump the potential toxic debt from the tax case and any other debts he has underwritten to a shell company. None of that would affect Rangers League status with the SPL or SFA.

Rangers won't go bust.
The creditors will undoubtedly get stiffed and probably have to accept what's coming.

[Caversham Green]

When Airdrie went defunct, did they not have to start again in Div 3?
:pray:


That would be be question too - I'm fairly sure that if Rangers go bump, then they'd need to be re-elected to the Scottish League again.

A new company called Airdrie United bought Clydebank FC, and renamed the club but retained the Bankies league membership. This could be a vehicle for doing just that.

This new company is registered in Cressex Business Park, High Wycombe. That's a run-of the mill business estate. I don't know it very well, but I think there's at least one block of serviced offices there. I'm not aware of any permanent solicitors or accountants offices though.

[NYHibby]

But surely the licence to be in the league can't just be bought, which is the key factor.

They will need to liquidate Rangers FC with all of its debt, with new companies getting hold of the assets etc. But presumably the licence would remain with Rangers FC along with the debt, as that is part of that legal identity. Any new Glasgow Rangers would be something else, and I don't see how they could get away with claiming the right to take old Rangers place without taking on its debts too.

My knowledge is of American Chapter 11 rather than British insolvency law so I may be completely wrong.

What I was suggesting is that "Glasgow Rangers" would buy "Rangers Football Club P.L.C" (the club) from "Rangers FC Group Limited" (holding company Whyte created) which would enter administration. The licence is held by the club and not the holding company. Didn't Whyte clear the club's debt and assume the tax liability? Presumably the debt would now rest with the holding company and not the club. Could you do the same with the tax liability?

EDIT: I was going for what Andy just said above.

[Caversham Green]

Dundee and Motherwell paid their creditors (including HMRC) back something like 6p - 10p in the pound.

Rangers biggest creditor now is Craig Whyte. He'll own them lock stock and barrell regardless. Even if they went to the wall he would get first dibs on Ibrox and Murray Park but that won't happen.

What he may be doing is positioning them to split the football operating side off and then dump the potential toxic debt from the tax case and any other debts he has underwritten to a shell company. None of that would affect Rangers League status with the SPL or SFA.

Rangers won't go bust.
The creditors will undoubtedly get stiffed and probably have to accept what's coming.

If HMRC win their case they will become the biggest creditor. Whyte's first dibs on Ibrox/Murray park would only extend to the £18m debt he took on as part of the takeover arrangement and the rest would be available for distribution to other creditors - if they sell the properties. Whyte himself has acknowledged the possibility of Rangers going 'bust' but their real problem could be exiting administration if they go down that route.

[s.a.m]

A new company called Airdrie United bought Clydebank FC, and renamed the club but retained the Bankies league membership. This could be a vehicle for doing just that.

This new company is registered in Cressex Business Park, High Wycombe. That's a run-of the mill business estate. I don't know it very well, but I think there's at least one block of serviced offices there. I'm not aware of any permanent solicitors or accountants offices though.

So.......talking hypothetically, of course, they might be looking around for a debt-ridden club, teetering on the brink, with membership of the SPL:dunno:







Living quite close to Gorgie, as I do, I'm not sure whether to be pleased or horrified.

[ScottB]

Apparently Rangers staff saying on Twitter they are now in Administration...

[Caversham Green]

My knowledge is of American Chapter 11 rather than British insolvency law so I may be completely wrong.

What I was suggesting is that "Glasgow Rangers" would buy "Rangers Football Club P.L.C" (the club) from "Rangers FC Group Limited" (holding company Whyte created) which would enter administration. The licence is held by the club and not the holding company. Didn't Whyte clear the club's debt and assume the tax liability? Presumably the debt would now rest with the holding company and not the club. Could you do the same with the tax liability?

EDIT: I was going for what Andy just said above.

What Whyte did was pay off the bank debt and transfer the debt to the holding company - effectively, the holding company lent the club the money to pay off that debt, the loan I think being secured on Ibrox. There was an undertaking that the debt to the holding company would then be written off in the absence of an 'insolvency event' within a set time period (which I thought had already expired). The major tax liability has still not been agreed or determined and until that happens it can only rest with the club - this was the insolvency event being referred to in purchase offer.

[Part/Time Supporter]

If HMRC win their case they will become the biggest creditor. Whyte's first dibs on Ibrox/Murray park would only extend to the £18m debt he took on as part of the takeover arrangement and the rest would be available for distribution to other creditors - if they sell the properties. Whyte himself has acknowledged the possibility of Rangers going 'bust' but their real problem could be exiting administration if they go down that route.

It partly depends on the attitude of HMRC. Dundee were only able to escape administration this time because HMRC (who took a hostile attitude to them) were less than 25% of the creditors.

If the big tax case goes against Rangers then HMRC would have an effective veto on any attempt to fob off creditors with a few pence in the £.

[greenginger]

My knowledge is of American Chapter 11 rather than British insolvency law so I may be completely wrong.

What I was suggesting is that "Glasgow Rangers" would buy "Rangers Football Club P.L.C" (the club) from "Rangers FC Group Limited" (holding company Whyte created) which would enter administration. The licence is held by the club and not the holding company. Didn't Whyte clear the club's debt and assume the tax liability? Presumably the debt would now rest with the holding company and not the club. Could you do the same with the tax liability?

EDIT: I was going for what Andy just said above.



I think the HMRC have a catch all rule that any Company re-arrangement must be for legitimate business purposes not just Tax saving purposes or the Tax-Man can have it set aside.

And its the Tax-Man who decides what is legit. :greengrin

[Caversham Green]

It partly depends on the attitude of HMRC. Dundee were only able to escape administration this time because HMRC (who took a hostile attitude to them) were less than 25% of the creditors.

If the big tax case goes against Rangers then HMRC would have an effective veto on any attempt to fob off creditors with a few pence in the £.

:agree: A CVA (the normal exit route out of administration) needs the agreement of 75% in value of the affected creditors. If HMRC win their case they will represent a helluva a lot more than 25% of the debt. If a company can't exit administration the only alternative is to wind up.

[Caversham Green]

So.......talking hypothetically, of course, they might be looking around for a debt-ridden club, teetering on the brink, with membership of the SPL:dunno:







Living quite close to Gorgie, as I do, I'm not sure whether to be pleased or horrified.

I hinted on exactly that prospect a few days ago. It was tongue in cheek at the time, but to be honest if Rangers go bust anything is possible.

[NYHibby]

What Whyte did was pay off the bank debt and transfer the debt to the holding company - effectively, the holding company lent the club the money to pay off that debt, the loan I think being secured on Ibrox. There was an undertaking that the debt to the holding company would then be written off in the absence of an 'insolvency event' within a set time period (which I thought had already expired). The major tax liability has still not been agreed or determined and until that happens it can only rest with the club - this was the insolvency event being referred to in purchase offer.

So this suggests that he is not trying to do a GM-style reorganization that I was trying to describe.

[Caversham Green]

So this suggests that he is not trying to do a GM-style reorganization that I was trying to describe.

I don't think he could while the tax case remained unresolved, because that liability could not be quantified accurately.

[green glory]

Apparently Rangers staff saying on Twitter they are now in Administration...

Any links? Would love to see this.

:coffee:

[Gettin' Auld]

:singing: There's not a team called the Glasgow Rangers. No not one.........:singing:

:greengrin

[green glory]

Rangers insist GLASGOW RANGERS LTD and GLASGOW RANGERS FOOTBALL CLUB LTD both registered today have nothing to do with club or owner.

Tweeted by Gerry Braiden at the Herald.

[Viva_Palmeiras]

Registered in England, is this a manovre to get into the EPL... Or a cheeky Celtc fan at it?

Would that mean english law applies?
Or are they getting ready to avoid the tartan tax as a bargaining chip with the SNats?

[Viva_Palmeiras]

Rangers insist GLASGOW RANGERS LTD and GLASGOW RANGERS FOOTBALL CLUB LTD both registered today have nothing to do with club or owner.

Tweeted by Gerry Braiden at the Herald.

Of course all likely done through jntermediaries so this very statement can be made

[PaulSmith]

A guy I don't personally like for his views on the UK and Scotland but worth a read.

http://www.philmacgiollabhain.ie/questions-about-rangers-in-europe/

http://rangerstaxcase.com/ (http://www.philmacgiollabhain.ie/questions-about-rangers-in-europe/) Some more here about Rangers running out of cash.

[green glory]

If, as is being suggested Rangers have registered 2 new company names (denied though intermediaries though, apparently) AND Rangers staff are taking it upon themselves to tweet they are in administration (still to see any evidence of this) then there's going to be one helluva sh*tstorm.

Fingers crossed, it's all true.

Scottish football rocked to it's very foundations.

And me cracking open that bottle of bubbly I've been saving for this.

:rockin: :cgwa

[aberhibsfc]

Could be an Airdrie scenario preparation or as he is the majority shareholder, he may simply be looking to move Rangers away from being a plc company.

If he settles with HMRC, clears their debt removing bank's intervention and moves to Ltd he will be in complete control of the club with no-one to answer to.

[Moulin Yarns]

Does anybody follow follow rangers on twitter?

[green glory]

Does anybody follow follow rangers on twitter?

No, might catch something.

[The Harp Awakes]

MAke that Leith too.

We can all laugh but I have to say that I'm shocked and saddened by this news if true









































Well actually, maybe not.

:aok::flag::violin::faf::dizzy::hyper::rockin::smu g::tee hee::hahaha:

[YehButNoBut]

@KieranDunne_ (https://twitter.com/#%21/KieranDunne_) Kieran Dunne
@celticrumours (https://twitter.com/#%21/celticrumours) rangers have approached price waterhouse about how to go into administration they have 260k in bank and wage budget of 3mil

:na na:

[SvenNeil]

A guy I don't personally like for his views on the UK and Scotland but worth a read.

http://www.philmacgiollabhain.ie/questions-about-rangers-in-europe/

http://rangerstaxcase.com/ (http://www.philmacgiollabhain.ie/questions-about-rangers-in-europe/) Some more here about Rangers running out of cash.

Phil's a good bloke - I've worked with him on a few things. Has respect for us hibby's too and gives us a wee mention in his book about male suicide in Ireland

[YehButNoBut]

They are definately in deep dodo :******:

http://rangerstaxcase.com/2011/10/25/insolvency-inevitable/

http://rangerstaxcase.com/2011/10/23/disinformation/

[jdships]

I don't think he could while the tax case remained unresolved, because that liability could not be quantified accurately.

That for me is the important part .
I have been in exactly that situation with a company I worked for and it was exactly the way things were.

Anybody share my view that David Murray did pretty well to get out when he did ?
A shrewd bit of business methinks :greengrin

The sad thing is RFC may not be the last SPL club looking " down the barrel of a gun" financially.
Have been told of one club where directors are paying coach hire/stewarding/printing of programmes etc out of their own pockets :rolleyes:

[ScottB]

[/U][/B] That for me is the important part .I have been in exactly that situation with a company I worked for and it was exactly the way things were.Anybody share my view that David Murray did pretty well to get out when he did ?A shrewd bit of business methinks :greengrinThe sad thing is RFC may not be the last SPL club looking " down the barrel of a gun" financially.Have been told of one club where directors are paying coach hire/stewarding/printing of programmes etc out of their own pockets :rolleyes:Aren't the Dons basically being run out of Milne's pocket?

[jdships]

Aren't the Dons basically being run out of Milne's pocket?

Absolutely - forgot about that !:thumbsup:
We also have " The Arabs" in " soapy" with Thomson saying he won't invest any more of his money in the club

I suppose it's not beyond the bounds of comprehension that Scottish football could be mostly " part time" within the next ten years :dunno:

[ScottB]

Absolutely - forgot about that !:thumbsup:
We also have " The Arabs" in " soapy" with Thomson saying he won't invest any more of his money in the club

I suppose it's not beyond the bounds of comprehension that Scottish football could be mostly " part time" within the next ten years :dunno:

I suspect Rangers imploding will be the catalyst for the Dons, United and even Hearts finally trotting off into administration, why? Because I suspect 'league reconstruction' will finally kick in to save these clubs by ditching relegation and expanding the top league at the end of the season...

[nortonhibby]

Story i got told is Murray is behind all this White is just a patsy not a bolt to his name but is in there to take the blame when they go bust.:confused:

[jdships]

I suspect Rangers imploding will be the catalyst for the Dons, United and even Hearts finally trotting off into administration, why? Because I suspect 'league reconstruction' will finally kick in to save these clubs by ditching relegation and expanding the top league at the end of the season...


Good post .:thumbsup:
Never thought of that angle !
Decided possibility in the circumstances

:flag:

[green glory]

Gawd it's slow on this thread today. Will I commence the mischief? ok.

The 2 new Rangers companies registered yesterday with companies house? Registered by Gerard Moran, a senior chappy at Price Waterhouse Cooper. And what do they specialize in???

:devil::devil::devil::devil::devil::devil:

[Bad Martini]

I remember waking up once thinking "*******...it was just a dream".

And NOW, it would appear both the dirty huns and the dirty yams could be a in race ... countdown to extinction.

****in a !

Now, who first? I dont give a ratts ass. Actually, **** it ... huns first, yams next. New Year derby still awaits us :thumbsup:

ENDOF

[TheBall'sRound]

Gawd it's slow on this thread today. Will I commence the mischief? ok.

The 2 new Rangers companies registered yesterday with companies house? Registered by Gerard Moran, a senior chappy at Price Waterhouse Cooper. And what do they specialize in???

:devil::devil::devil::devil::devil::devil:

I can categorically confirm that Gerard Moran doesn't work for PwC

[nonshinyfinish]

I can categorically confirm that Gerard Moran doesn't work for PwC

How do you know that? I think you're probably right, just wondering where the information comes from.

Apparently on Celtc sites someone is saying that it's a wind-up (pun intended :wink:) - presumably there's nothing to stop you registering the companies in any name, then getting that name on to professional networking sites saying you work at PWC.

[green glory]

I can categorically confirm that Gerard Moran doesn't work for PwC

I'm certainly not privy to anymore info than what's available to anyone else online. In fact the connection has already been made on Celtic forums, Pieandbovril etc etc. All of whom could in all likelhood be talking nonsense. Check the following though. Whoever the Gerard Moran in question may be in connection with the 2 recently registered companies, it's certainly interesting.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-15453103

http://www.linkedin.com/pub/dir/Gerard/Moran

Note the last paragraph in this:
http://www.breakingnews.ie/entertainment/kennedy-in-unique-eurosong-victory-245242.html
(http://www.breakingnews.ie/entertainment/kennedy-in-unique-eurosong-victory-245242.html)
Another one below:

http://www.merritts-solicitors.co.uk/gerard-moran.htm

Again, nowt that isn't already out there elsewhere. Interesting though?

[Hibercelona]

I reckon that we and fans from every other club should come together and patent all the possible "sensible" names that they could possibly change their name to. :wink:

[green glory]

I reckon that we and fans from every other club should come together and patent all the possible "sensible" names that they could possibly change their name to. :wink:

I reckon the fans from every other club should clean B+Q out of sledge hammers, picks etc and helpfully assist the bulldozers at Ibrox when doomsday comes.:faf:

We can hope.