Generic Sevco / Rangers meltdown thread

[down the slope]

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Don't forget Seaman Staines and that Tom the cabin bhoy just smiled :-)

No No , you are thinking off master bates !.

[jgl07]

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Don't forget Seaman Staines and that Tom the cabin bhoy just smiled :-)

Roger the Cabin bhoy surely?

[seanshow]

Another good article summing up the Dilemma facing the SPL and the laughing-stock it could become.

http://hereisthecity.com/2012/05/01/...t-needs-the-f/

[SteveHFC]

Is it just me or are my the only one that is getting pissed off about the solution. Can they just not go ****ing bust already

[snooky]

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Another good article summing up the Dilemma facing the SPL and the laughing-stock it could become.

http://hereisthecity.com/2012/05/01/...t-needs-the-f/

"Football's bureaucrats know this but in their love of hard cash and self-preservation they chose to ignore it. Fans don't allow themselves the luxury of amorality."

Take heed Mr Doncaster, and yer cronies.

(Good article, BTW)

[Jack]

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Agreed. Time to move up the ladder for a ruling. The SFA/SPL are between a rock and a hard place. EUFA (or FIFA?) should take this whole thing over, look at the facts and make a FAIR judgement. The Scottish authorative bodies are in it way over their heads.

It's like the Titanic movie .....
Cast:
RFC as the "unsinkable" Titanic
SDM as the captain "Full steam ahead & forget those weather reports"
CW as first mate (takes over the helm as soon as the captain spots the iceberg)
HMRC as the iceberg
Celtic as the Britannic (Titanic's sister ship who would later sink just like her sibling)
Other SPL clubs as all the other ships in the Atlantic (who were totally blameless but scorned for not helping Titanic)
Duff and Phelps as the band, playing on and on and on and on and .... as the ship goes down
The Blue Knights/Kennedy/Miller as the lifeboats trying to save the cream and leaving the rest to go down with the ship.

Any more?

Meanwhile back on tack.

I honestly don't think UEFA, or FIFA, would get involved at that level.

They will expect the SFA, as the governing association, to make the right decisions and if the don't then they will punish the SFA [and all who sail in her].

[Spike Mandela]

McCoist is an arrogant Fud.


http://www.dailymail.co.uk/sport/foo...co-option.html


"If there is a team in blue playing at Ibrox it's Rangers"

"rangers are Rangers and that's the opinion of the vast majority of people"

I hope these quotes are repeated to him endlessly when the Newco are washing their hands of any of Rangers debts or punishments.

[grunt]

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Another good article summing up the Dilemma facing the SPL and the laughing-stock it could become.

http://hereisthecity.com/2012/05/01/...t-needs-the-f/

That article seemed familiar when I read it - its the same as this one

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Yesterday's Guardian had a great article which included references to Warrington/Cheshire's survey.

http://www.guardian.co.uk/football/b...?newsfeed=true

[poolman]

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More interesting stuff from Paul McConville

http://scotslawthoughts.wordpress.co...e-by-11th-may/

And more


http://scotslawthoughts.wordpress.com/

[JeMeSouviens]

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McCoist is thick as pig**** and an arrogant Fud.

FTFY.

Of course the situation isn't helped by the fact that 99% of the people interviewing him or reporting on this are also thick Huns.

Here is a simple analogy if anyone needs one for a passing Hun:

- Administration and exit via CVA is like your car breaking down and getting repaired. It's the same car.

- Liquidation and a newco is like your car breaking down and getting scrapped. You get a new car but take the CDs and the furry dice with you. It's not the same car.

- Bill Miller's plan is as liquidation but instead of scrapping the old one, you hide the wreck in a lock up somewhere. The new car is still a new car.

[green glory]

Meant to be an important announcement regarding the preferred bidder this morning.

Is the admins court case against CW not due today, to try and get a hold of the shares?

SFL (not SPL) making an important announcement tomorrow regarding possibly the league structure?

[Jim44]

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Meant to be an important announcement regarding the preferred bidder this morning.

Is the admins court case against CW not due today, to try and get a hold of the shares?

SFL (not SPL) making an important announcement tomorrow regarding possibly the league structure?

How about the establishment of two leagues with Rangers in the second and back 'where they belong' in one season.

[brydekirk]

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How about the establishment of two leagues with Rangers in the second and back 'where they belong' in one season.

Every chance of that happening

[green glory]

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How about the establishment of two leagues with Rangers in the second and back 'where they belong' in one season.

How about the establishment of 2 leagues with 6 feet of dirt shovelled over the bigots?

[hibs0666]

Looks like the American will be the preferred bidder and I like the cut of his jib...

http://www.bizjournals.com/charlotte...1/daily36.html

[TheEastTerrace]

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And more


http://scotslawthoughts.wordpress.com/

Read the comments section - if 'TonyD' is accurate in any of his predictions of how this will play out, I think we can all safely say that Scottish football is deid.

[Jim44]

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Looks like the American will be the preferred bidder and I like the cut of his jib...

http://www.bizjournals.com/charlotte...1/daily36.html

They deserve each other.

[JeMeSouviens]

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Looks like the American will be the preferred bidder and I like the cut of his jib...

http://www.bizjournals.com/charlotte...1/daily36.html

There are various rumours he has links to Ellis and/or Whyte. Probably pish but you'd think the Hun might be thinking a touch of due diligence was in order this time, no?

[PatHead]

Another Craigie White company (or 2) eventually declares how bad things are

The special administrators of Pritchard Stockbrokers has estimated a £3.4m shortfall of cash in Pritchard’s client accounts.
In a letter sent to clients last week, administrators Mazars warned it is “highly likely” there will be a shortfall in their share of Pritchard Stockbrokers’ cash assets which were recently frozen by the FSA. A creditor report says Mazars has identified £23.7m of client cash against £27.1m of client claims, creating a shortfall of £3.4m. A total of £6m of Merchant Capital client cash is currently frozen with Pritchard.
The Financial Services Compensation Scheme says it treats stockbroking as an investment activity and would pay a maximum of £50,000 to clients if the firm is declared in default.
A Mazars spokesman says only five Merchant Capital clients have over £50,000 of cash assets with Pritchard, although it will not give figures for the individual sums involved. Around 1 per cent of Pritchard’s 5,600 direct client have cash assets over £50,000.
Pritchard had a total of 11,100 clients, including direct and Merchant Capital clients.
Mazars was appointed special administrator on March 9 after the FSA suspended Pritchard’s permissions due to concerns about the way it handled client assets and monies.
On the same day, structured product provider Merchant Capital said it would transfer all £350m of clients’ non-cash assets from Pritchard to new custodian Reyker Securities but cash assets were frozen by the regulator.
As a result of the Pritchard suspension, Merchant Capital admitted on March 8 that some income payments to clients may be delayed.
Parent company Merchant House Group’s shares are currently suspended pending a review of its finances to determine whether or not it has sufficient working capital for its present requirements.
Earlier this month, Merchant House Group announced it was awaiting payment for shares worth £150,000 after it issued £761,500-worth of shares in February. A spokesman says: “Merchant Capital is separately capitalised and the directors of Merchant Capital are happy with the capital situation.”
Former Glasgow Rangers owner Craig Whyte was company secretary of Pritchard and is also director of Liberty Capital, a British Virgin Islands-based company which owns 18.32 per cent of Merchant House Group.
Merchant House Group has an IFA arm, Merchant House Financial Services, which was established in December 2010 after the acquisition of the assets of Clarkson Hill which is in default with the FSCS.

[green glory]

http://www.scribd.com/doc/92073643/MG02

CWG help!!!

Does this mean assets being moved to a newco?

[proud_and_green]

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Another good article summing up the Dilemma facing the SPL and the laughing-stock it could become.

http://hereisthecity.com/2012/05/01/...t-needs-the-f/

Excellent article and particularly this part:

"A recent survey of Scottish football fans revealed the depth of opposition to the idea of parachuting a newco Rangers back into the SPL. Heaven knows football has a long history of ignoring what fans think, but for any sport to thrive or at least survive there must be a core belief in the fairness of competition. Without that trust there is nothing. Football's bureaucrats know this but in their love of hard cash and self-preservation they chose to ignore it. Fans don't allow themselves the luxury of amorality.

If that sounds like a romanticised view from the terraces then ask yourself this: what would be the point in watching Scottish football if you knew that no matter how badly Rangers (or Celtic for that matter) behaved or how recklessly they conducted their business they could never be thrown out of the league? There would be no point. That isn't romance, it is reality. A reality that would corrupt and erode what little trust is left in Scottish football after these last few months."

I could add to that, if they do parachute them back in - what of fines handed out by SFA/SPL, what of action against fans, what of fair play leagues (Hah - don't make me laugh!), what of lessons to our young people about working hard and trusting the system, what about trusting competition and the survival of the fittest!

I honestly think that what this journo has hit the nail on the head for me and whilst i will always support Hibs and will more than likely keep on going to ER, this will have undermined the whole ethos of Scottish Football for me. This is no different from bribes and other corrupt practices and should be dealt with in exactly the same way!

[CropleyWasGod]

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http://www.scribd.com/doc/92073643/MG02

CWG help!!!

Does this mean assets being moved to a newco?

I think this is just housekeeping.

When a company takes out a loan secured on its assets, that security should be registered with Companies House as a charge. Similarly, when that charge is "satisfied" (ie normally when the loan is paid off), that should be notified to CH also.

To me, the document you posted is the "satisfaction" of the charge that Bank of Scotland (before they were taken over by Lloyds) had over the assets. That debt was paid off, of course, by Mr. Whyte.

This should have been registered last May, when the debt was paid off.

[ehf]

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Read the comments section - if 'TonyD' is accurate in any of his predictions of how this will play out, I think we can all safely say that Scottish football is deid.

Let's hope the bit about Dunfermline getting relegated is accurate, though...

[Just Alf]

oh dear... what a shame...... :-)

http://www.bbc.co.uk/news/uk-scotlan...iness-17930851

[Spike Mandela]

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Read the comments section - if 'TonyD' is accurate in any of his predictions of how this will play out, I think we can all safely say that Scottish football is deid.

TonyDs version is a fleshed out version of what I always suspected and I think what most people expected would happen. How this can be done though beggars belief and as usual the creditors are shafted.

Rangers newco will wriggle out of any debt or sanctions while the media will hail all concerned. They will discuss the 'crisi' and 'pain' that Rangers have been through. Yes, so painful that instead of finising second they finished errrm second, they lost none of their high earning players and will not lose any property or indeed history and will probably end up richest club in Scotland.

Then we will have to suffer stories of the dignity of McCoist, the fighting spirit of Sandy Jardine and the untarnished reputation of SDM.

Anybody ever get the feeling you've been cheated?

[Leithenhibby]

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TonyDs version is a fleshed out version of what I always suspected and I think what most people expected would happen. How this can be done though beggars belief and as usual the creditors are shafted.

Rangers newco will wriggle out of any debt or sanctions while the media will hail all concerned. They will discuss the 'crisi' and 'pain' that Rangers have been through. Yes, so painful that instead of finising second they finished errrm second, they lost none of their high earning players and will not lose any property or indeed history and will probably end up richest club in Scotland.

Then we will have to suffer stories of the dignity of McCoist, the fighting spirit of Sandy Jardine and the untarnished reputation of SDM.

Anybody ever get the feeling you've been cheated?

No yet, we shall see what happens, still a good few twists & turns for them to trip-up on

[magpie1892]

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TonyDs version is a fleshed out version of what I always suspected and I think what most people expected would happen. How this can be done though beggars belief and as usual the creditors are shafted.

Rangers newco will wriggle out of any debt or sanctions while the media will hail all concerned. They will discuss the 'crisi' and 'pain' that Rangers have been through. Yes, so painful that instead of finising second they finished errrm second, they lost none of their high earning players and will not lose any property or indeed history and will probably end up richest club in Scotland.

Then we will have to suffer stories of the dignity of McCoist, the fighting spirit of Sandy Jardine and the untarnished reputation of SDM.

Anybody ever get the feeling you've been cheated?

Nowhere near as cut and dried as this. Many eyes on this one.

[Minder]

If Miler buys them they can sing one of their favourites albeit with some slightly different words to make it legal. ....We are billys boys... up to our eyes in murrays debt ....agree a cva or we die.

[EuanH78]

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Nowhere near as cut and dried as this. Many eyes on this one.

Agreed, there has been an incredible amount of bluster from all and sundry since day 1. Topping's resignation is significant I think - May have to give him some credit for being able to see which way the winds blowing and ducking out, think Doncaster is hanging himself out to dry.

Wont be surprised if UEFA step in though I actually think the SFA will finally do their job, no matter what the SPL (Doncaster) tries.

Just have to wait and see, plenty left to run in this though

[The Green Goblin]

http://www.youtube.com/watch?v=qz9stPeGbn4