Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

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Whether it was within the financial year or not, UK financial reporting and auditing standards and Company Law requires that material matters such as these are properly recorded and disclosed to all users of financial statements. Although on the face of it the Ticketus might be considered to be a normal trading transaction in that it deals with the sale of (future periods) ST sales, the "inter-company" "loans" aspect for want of a better description make it something that should be highlighted in the accounts if failure to do so might prejudice a proper understanding of the Company's financial position as a result!

Yes, I know all this. Which is why I raised the issue in the first place.

My point was.... did the auditors know about it at the time? If they did, what was their view on it? And is their view on it changed by the information that has emerged in the past week?

[TornadoHibby]

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Yes, I know all this. Which is why I raised the issue in the first place.

My point was.... did the auditors know about it at the time? If they did, what was their view on it? And is their view on it changed by the information that has emerged in the past week?

And here's me thinking that I might be able to help you answer questions which I thought that you were asking when, in fact, you are actually asking a question that I imagine only the auditors can aswer accurately!

[CropleyWasGod]

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And here's me thinking that I might be able to help you answer questions which I thought that you were asking when, in fact, you are actually asking a question that I imagine only the auditors can aswer accurately!

This is where this particular discussion started:-

I can only guess at what the auditors were hesitating over, but much of the material that has been uncovered over the past week must be helpful to them.

From there, it was conjecture and discussion.

[TornadoHibby]

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This is where this particular discussion started:-

I can only guess at what the auditors were hesitating over, but much of the material that has been uncovered over the past week must be helpful to them.

From there, it was conjecture and discussion.

On something like this, that's my reason to bale out as there are people who will reveal the facts that can be revealed whenever it is time to do so and nothing I can do will change that!

Enjoy!

[One Day Soon]

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This is where this particular discussion started:-

I can only guess at what the auditors were hesitating over, but much of the material that has been uncovered over the past week must be helpful to them.

From there, it was conjecture and discussion.

I'm enjoying this thread hugely but there is a definite sense in which you and TH need to get a room. It feels like I'm reading fetish porn for accountants. Don't stop though!

[CropleyWasGod]

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I'm enjoying this thread hugely but there is a definite sense in which you and TH need to get a room. It feels like I'm reading fetish porn for accountants. Don't stop though!

Get lost! It's gone 5 on a Friday....I'm off the clock :-P


That said....this is a bit heavenly for me. . Two parts of my life colliding in the most spectacularly horrendous way....love it:-)

[Benny Brazil]

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I'm enjoying this thread hugely but there is a definite sense in which you and TH need to get a room. It feels like I'm reading fetish porn for accountants. Don't stop though!

[HibeesLA]

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I don't think a Celtc fan would have gates like these:

Attachment 7943

I see he has a new location for the stadium right across the street though:

New Stadium Location??

[CropleyWasGod]

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I see he has a new location for the stadium right across the street though:

New Stadium Location??

You do realise that this is going to be on Scotland Today on Monday? STV get all their Whytegate exclusives from Hibs.net.

[ancienthibby]

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You do realise that this is going to be on Scotland Today on Monday? STV have already proven that they get all their Whytegate exclusives from Hibs.net.

There was a spoof soap opera that came out of the US in the early 80's (I think).

The voice over announcer used to give a full recap of the shenanigans that had happened in the previous episode and then posit a number of scenarios for the upcoming episode.

He then used to close off by saying: 'Confused? - you w'ont be!'

http://www.youtube.com/watch?v=0BHQT3Omqtw

Covers the Castle Greyskull soap opera perfectly!

[CropleyWasGod]

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There was a spoof soap opera that came out of the US in the early 80's (I think).

The voice over announcer used to give a full recap of the shenanigans that had happened in the previous episode and then posit a number of scenarios for the upcoming episode.

He then used to close off by saying: 'Confused? - you w'ont be!'

http://www.youtube.com/watch?v=0BHQT3Omqtw

Covers the Castle Greyskull soap opera perfectly!

I'm as ancient as you, AH. It was called Soap (insert Celtc gag here)

[ancienthibby]

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I'm as ancient as you, AH. It was called Soap (insert Celtc gag here)

If you watch the posted link, Mr Croppers, you will find that it was called SOAP.

You're ancient memory is obviously on a par with mine!

[CropleyWasGod]

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If you watch the posted link, Mr Croppers, you will find that it was called SOAP.

You're ancient memory is obviously on a par with mine!

Wasn't it called Soap?

[Dashing Bob S]

Are Rangers in administration? Gosh! When did that happen?



Honestly, you think you know a great Scottish institution (who've had nothing to do with poisoning simpletons with sectarian hatred for years) and then something like this happens.

[TornadoHibby]

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I'm enjoying this thread hugely but there is a definite sense in which you and TH need to get a room. It feels like I'm reading fetish porn for accountants. Don't stop though!

Can't help thinking that you've misread the signals ODS!!

[CropleyWasGod]

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Can't help thinking that you've misread the signals ODS!!

Bollox.... knocked back again.

[green glory]

Agree if like me you'll never get tired of this thread.

GGTTH

[jonty]

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I don't think a Celtc fan would have gates like these:

Attachment 7943

Home to a scaffolding company
http://www.mylocalservices.co.uk/Fif...LDING_LTD.html
and recovery sScotland
http://www.local-buzz.co.uk/business...d-ltd-/2932034

[CropleyWasGod]

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Home to a scaffolding company
http://www.mylocalservices.co.uk/Fif...LDING_LTD.html
and recovery sScotland
http://www.local-buzz.co.uk/business...d-ltd-/2932034

Stand Tall eh?

Sounds a bit Loyalist to me, eh no?

"Stand tall, boys. We don't do walking away"

[EuanH78]

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Agree if like me you'll never get tired of this thread.

GGTTH

In an otherwise terrible season, this thread is a big shiny beacon of happy joy

[CropleyWasGod]

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In an otherwise terrible season, this thread is a big shiny beacon of happy joy

But how will it end???????

[EuanH78]

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But how will it end???????

Well, given your area of expertise I'm pretty sure you have a better idea than most... but hopefully it ends in the cataclysmic destruction of the ahem 'institution' that is Rangers football club.

I'm in two minds whether I want it to happen quickly or not, I am enjoying ripping the Jarko out of every hun I meet (incuding the MD of the company I work for) I cant help myself, and it's doing my Karma no good at all I fear.

[StevieC]

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http://scotslawthoughts.wordpress.com/


David Whitehouse, joint administrator said, “The Rangers fans have been absolutely tremendous over the last 10 days and it’s vital to the administration process that we continue to receive the support we have had thus far.

“Ibrox was sold out last Saturday and hopefully that can be the case for the rest of the season. The fans are clearly extremely loyal to Rangers and by coming to matches at Ibrox they are directly contributing to the Club’s future.

As I have pointed out before, in almost every administration of a football club I can recall, the administrators have not honoured the season tickets. Season ticket holders have paid for their seats “up front”. Legally therefore they are creditors of the insolvent company. The value of their remaining part of the season ticket falls to be a claim in the insolvency, should they choose to make it of course. It could be argued that an unfair preference is being given to the season ticket holders by the administrators. How many other suppliers are being paid for pre-administration debts?

IMO, I think the decision to honour season tickets (for the time being) is linked to the Ticketus deal. If they do not honour the season tickets then I think there is a real danger that tickets may not be bought for next season and that this could result in repurcussions from Ticketus. There is a chance that Rangers might come out of administration this time around, but go straight back into it once the "big tax case" is concluded. If they dont honour season tickets this season, they wont honour them if administration comes around again next season. Would you buy a season ticket if there was a chance it wouldn't be honoured? No season tickets, no funds over the summer, possible Ticketus issues, for me that spells major problems (not that current problems aren't already major).

Just my thoughts. Not based on any real knowledge of what's going on.

[hibb1]

I canae help but think this is a"scare tactic"there trying so hard to make out how the world would be so much worse without them so that when big tax case comes around they get a more favourable outcome"for the better of the world"lol
I canae see any other outcome bar they manky fkrs come out smelling of roses

[cabbageandribs1875]

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That's in T-Hall (Templehall) Kirkcaldy, not know for high flying solicitor types. Council scheme mostly.

i have a friend that lives in T-hall in kawdy i'l try find out a bit more

[fatbloke]

http://newsmanc.co.uk/2012/02/15/new...asgow-rangers/

www.newsmanc.co.uk/2012/02/15/news-council-plan-sponsored-city-trash-for-
glasgow-rangers/

Pee yersel laughin time folks.

[Onion]

Administrators have been in the club for almost 2 weeks and yet not one Rangers player have been laid off?

The first role of the Admins, after securing the assets of the company, is to stop the company haemoraging money. In any other company, staff would have been pushed out the door within a day or two of the Admins walking in, yet these Admins appear happy for the club to continue paying high salaries with other people's money (i.e. our's/HMRC's). WTF is going on ?

This whole affair raises some serious questions about the rest of the pre-split games and validity if any games involving Rangers of Celtic from now on. Last week, Rangers were still playing for the title and had a full (overpaid) squad. In a few days time, they will be depleted and deflated, and any teams playing them now will have a clear advantage over those that had to play them pre-Administration.

This 10 point deduction might be fine for the Livi's and Gretna's, but doesn't come close to addressing the issues of a top 2 club "cheating".

[ancienthibby]

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Administrators have been in the club for almost 2 weeks and yet not one Rangers player have been laid off?

The first role of the Admins, after securing the assets of the company, is to stop the company haemoraging money. In any other company, staff would have been pushed out the door within a day or two of the Admins walking in, yet these Admins appear happy for the club to continue paying high salaries with other people's money (i.e. our's/HMRC's). WTF is going on ?

This whole affair raises some serious questions about the rest of the pre-split games and validity if any games involving Rangers of Celtic from now on. Last week, Rangers were still playing for the title and had a full (overpaid) squad. In a few days time, they will be depleted and deflated, and any teams playing them now will have a clear advantage over those that had to play them pre-Administration.

This 10 point deduction might be fine for the Livi's and Gretna's, but doesn't come close to addressing the issues of a top 2 club "cheating".

At the very time you were posting, Jane Lewis was on Radio 5 Live saying that expectations now were that up to 30% of the playing staff would go. I also remember a snippet from earlier in the week saying that some lof the 16 and 17 year-olds were now training with the first team squad.

As Craikie White has already suggested that there is a £1 million cash shortfall every month, the cuts have to come.

[Viva_Palmeiras]

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At the very time you were posting, Jane Lewis was on Radio 5 Live saying that expectations now were that up to 30% of the playing staff would go. I also remember a snippet from earlier in the week saying that some lof the 16 and 17 year-olds were now training with the first team squad.

As Craikie White has already suggested that there is a £1 million cash shortfall every month, the cuts have to come.

So good I'll sing it twice...

Rule Britannia!
Craig Whyte smiles and waves,
Britain never, never, never
shall get paid!

[IWasThere2016]

Players will go next week - least that's what's being said at Murray Park.