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[QUOTE=CropleyWasGod;3263925]Surmising a bit on this, Mr Croppers, would this not allow the Yorkie man to walk away, Watty to sail in and be the great hero, whom the SFA/SPL would never inflict any punishment on everQuote:
Originally Posted by Paisley Hibby
Is this what the Scottish fans (excepting huns) want??
[QUOTE=ancienthibby;3263936]Yes, but the property would still be in the old company.... leaving it open to purchase by someone who had no intention of using it as a football stadium.Quote:
Originally Posted by CropleyWasGod
[QUOTE=CropleyWasGod;3263935]Surely a quick e-mail to a paper or the Channel 4 dude is in order just in case this has been missed.Quote:
Originally Posted by Caversham Green
[QUOTE=CropleyWasGod;3263925]And on the fence is where I'm staying.Quote:
Originally Posted by Paisley Hibby
If I didn't have personal experience of how carefully professional firms draft and check these things I'd write the EOS discrepancy off as a clerical error, but the apparently deliberate way it's been done strongly suggests otherwise. I haven't seen it discussed anywhere else though, and that also makes me doubt my own observations.
[QUOTE=CropleyWasGod;3263941]I should have said that Wattie & Co would buy the stadium and all the 'excluded' property, all the players would ignore Yorkie man and flock to Watty and Watty Junior and all would be sweetness and light at hunpox as the fans bought ST's in their tens of thousands!Quote:
Originally Posted by ancienthibby
As you have said, no one else have focussed on this question of 'excluded property'. Has Jim McColl been reading this thread?:greengrin
Anyone care to summarise this weeks farce and summarise the likely out one if it all?
I'm confused
Does the Green company have the players now if he has completed a purchase of the assets?
[QUOTE=greenlex;3263944]Paul McConville did a blog about errors in the CVA when it first came out. I intended to email him about it then, but couldn't find a contact address and then dropped the ball a bit. I'ts actually a bit late now that the CVA is oot the windae.Quote:
Originally Posted by CropleyWasGod
[QUOTE=ancienthibby;3263954]Nah..he's in the gairden, tending to his beeeyootiful roases, George.Quote:
Originally Posted by CropleyWasGod
He thinks he does...but I would suggest even that is in doubt. The SPFA will want to put their oar in, I'm sure. I am no expert in employment law, but as I understand it... the players contracts CAN be transferred under TUPE legislation, but they don't HAVE to be if the players don't want them to be.Quote:
Originally Posted by Andy74
I'm wondering where we are headed next.
We have Greene appearing to own the bits of the oldco that are worth owning, however the fans have been turned against him, as Tom English pointed out last night, that McCoist story was too good to be true for the sudden arrival of the Smith consortium. The succulent lamb returns already it would seem...
So, the fans want Greene out, and are being told not to buy season tickets. So Greene owns a club with no income stream, and likely no, or very few players. The big question is, does he throw in the towel and sell up to Smith, or does he dig his heels in and demand his pound of flesh for his troubles...
This could easily drag on long enough that no club emerges in time for next season, or perhaps even 2 seperate Rangers clubs try and bid for league entry, or Greene keeps Ibrox and Murray Park to lease back to a Smith Rangers.
In short. it's a mess!
Ok, any tweeters out there?
I am trying to drop Alex Thomson a note, as suggested, but it seems the boy don't do emailing. Only this Tweety Pie stuff, which I don't. I don't mind drafting the question, if someone else can fire the bullet.....
Already did it 10 mins ago.Quote:
Originally Posted by CropleyWasGod
What a team :greengrinQuote:
Originally Posted by green glory
Actually give me your wording and I'll copy and paste into another tweet.
Green buys Gers for 5.5M. Sells to Walty for say 20M, almost immediately
Why was this, suddenly, desireable company/ assets not sold for more in the interests of the creditors? A public auction would have been interesting.
The Scots law blog welcomes guest writers CWG and he does seem to have the eyes and ears of a few journos.Quote:
Originally Posted by CropleyWasGod
http://scotslawthoughts.wordpress.co...e-to-the-blog/
He has apparently told Wattie this morning that his price is £20 million.(per BBC Gossip)Quote:
Originally Posted by ScottB
The real negotiation begins!
Every expert on employment law has confirmed that after an insolvency event, the employees can choose to opt out of transferring to the Newco. Those that wish to transfer can provided that the terms are the same. Those that want to walk can do and sign for other clubs as free agents.Quote:
Originally Posted by CropleyWasGod
Green has come over as a complete idiot on this. I am sure that the Scottish PFA have got this one right.
Expect an exodus any time now.
Quote:
Originally Posted by CropleyWasGod
He's getting it tight this morning from some rangers fans because he suggested saint watler should disclose his involvement in EBT's. Word something up for me and I will ask him. The more the merrier as they say.
I think what I was asking was, as of yesterday, did the sale include the players, if so, are they sitting in Newco and they can still choose to opt out or does the actual transfer to newco take longer and they still have some time to say no thanks.Quote:
Originally Posted by jgl07
Quote:
Originally Posted by 1two
Green to sell to Wattie for c. £9/10m.
The Hun to be relegated to.............,
Divison One.
:cb
However.
What has happened about the investigation into D&P?
Is it still possible for the creditors to challenge the sale of Hun to Green?
The players can opt out or in, it's their choice, not Greenies despite what he's said.Quote:
Originally Posted by Andy74
Rangers Football Club PLC (in administration – or is that now in liquidation?) is no longer eligible to hold an SPL share. It does not have a ground, it cannot run a youth development system, it has major financial issues. Remember that those overdue accounts are now due today. It fails to meet many of the SPL membership criteria.
So the next Board meeting of the SPL should ask for the share to be remitted to the league. The former football club should take no more part in discussions on the future of an organisation it will not be a part of.
Sevco 5088 (trading as The Rangers Football Club) is not yet a football club. We are told that it now owns Ibrox Stadium and Murray Park, but does it employ any footballers? Does it have a youth development system? Can it meet the SPL’s financial regulations?
This is not as simple as Sevco winning 8 votes – and that should be 8 of 11 SPL members by the time a decisions is made. Before its application can be voted on it must be assessed against all of the membership criteria. :wink:
Forgive me if this has already been mentioned. The sheep seem to believe that there might not even be a vote. I really hope this aint being thought of as a way out for those on the voting fence. http://www.eveningexpress.co.uk/Article.aspx/2811915
Maybe it's been passed on to CW, in the same way that Green picked up the rest of the assets for a bargain, in order to avoid them going through the liquidation process?Quote:
Originally Posted by CropleyWasGod
It does seem strange that HMRC would let all the assets go for £5.5m knowing that the liquidator could get much more on the open market .. unless, as has been pointed out, a lot of the property assets are NOT included in the £5.5m sale.
okay.. something like this.Quote:
Originally Posted by green glory
"Thus far, there seems to be a general assumption in the mainstream media that Charles Green has purchased all of the assets of Rangers for £5.5m. Those assets, it is assumed, include all of the properties. However, no-one has actually questioned this assumption.
In the CVA proposal (page 37), there is a Expected Outcome Statement, which shows the outcomes of the three main scenarios, ie CVA, transfer to NewCo, and liquidation. Under the NewCo heading, the payment of £5.5m is split between £200k for the exclusivity fee, and £5.3m for Goodwill, Players' Contracts and Intellectual Property Rights. There is no value shown for Property. Does this mean that (a) the property is valued at £nil or (b) the property was not transferred to the NewCo. This is crucial in terms of the position of the creditors of RFC, and of course the proposed liquidation, but, as I say, nobody has aked the question.
The CVA document is confusing and possibly misleading. Was this the intention of the administrators?"
[QUOTE=Caversham Green;3263931]Well I can't see the EOS part being a mistake. So as you have been suggesting, D&P need to be asked to explain in public why they have written an EOS that does not include the property. Unless they say it's a mistake (and how crap will they look if they do) then their answer will be interesting.Quote:
Originally Posted by Paisley Hibby
Twitter limits you to 140 characters :greengrinQuote:
Originally Posted by CropleyWasGod
Have condensed it a bit and sent it over several tweets. Will see if I get any reply.