Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

I wasn't aware they needed a UEFA licence to play in the SPL. From what I understand Hearts missed deadline will mean they will not get a UEFA licence but nothing seems to be happening about them getting emptied by the SPL.

Totally agree on with you on what the focus should be

It's actually to do with the SFA. It's their licensing criteria that Hearts have failed.

This is the first year of the licensing system, so it remains to be seen how tough the SFA will be. However, they do have the option of refusing Hearts (and Rangers) a licence to play at all, in the SPL or SFL.

I doubt that they will go that far on a first offence, but....

[Caversham Green]

This quote is hidden because you are ignoring this member. Show Quote

If an administrator is appointed at Hearts, they won't be in post very long. The administrator will identify, very quickly, that there is no prospect of a better return to creditors through administration, as opposed to liquidation. Liquidation will follow very quickly.

The likelier scenario is that HMRC will go for a winding-up order, and they will go straight to liquidation.

However... and Cav is your man on this point.... AFAIK, there is little prospect of anyone other than the secured creditor (including HMRC) getting anything.

Administration is unlikely for Hearts because there's a fixed and floating security held by their own group over all of the club's assets - that's where they get the 'owe it to themselves' nonsense. On top of that, the amounts owed that are covered by those securities are much higher than the value of the secured assets (£12m 'reduction' in debt notwithstanding), so unsecured creditors would get zip and the cost of administration would only reduce the amount that the secured creditors could recover. Straight liquidation makes much more sense to them.

As a side issue, expect the new stadium issue to rear its ugly head again - they will be out of Tynie within the next two or three years, if they still exist.

[JeMeSouviens]

This quote is hidden because you are ignoring this member. Show Quote

So as long as HMRC keep threatening to wind them up and get paid, Hearts will stagger along much as they have done this season.

There is an ongoing HMRC investigation into HMFC. Don't know any details but there have been some juicy hints on the RTC blog that they could be in similar soapy to the Huns. If so, they won't be staggering much further.

[Dan Sarf]

Souness plays down Ibrox bid role!

http://www.bbc.co.uk/sport/0/football/18019164

Stop, stop, please stop, I can't take any more of this!

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

There is an ongoing HMRC investigation into HMFC. Don't know any details but there have been some juicy hints on the RTC blog that they could be in similar soapy to the Huns. If so, they won't be staggering much further.

It's more than hints. It's disclosed in their latest accounts.

[shagpile]

This quote is hidden because you are ignoring this member. Show Quote

Surely it is still relevant -until Sunday at least. If Duff and Duffer announce liquidation tomorrow - then the Pars stay up?

Point taken ,but i'm not sure that is how it would go if the huns are ****ed. There may be a case for promoting the 2nd place team from Div 1.Depends on what the [ever changing] rule book says.

[jgl07]

This quote is hidden because you are ignoring this member. Show Quote

Point taken ,but i'm not sure that is how it would go if the huns are ****ed. There may be a case for promoting the 2nd place team from Div 1.Depends on what the [ever changing] rule book says.

If they are liquidated before the end of the season, Dunfermline stay up.

If it happens after the and of the season then Dundee come up.

[SteveHFC]

The Rangers Newco has been offered a place in the English Conference South, but have declined.

They don't do Woking away.

[jonty]

This quote is hidden because you are ignoring this member. Show Quote

The Rangers Newco has been offered a place in the English Conference South, but have declined.

They don't do Woking away.

[JeMeSouviens]

This quote is hidden because you are ignoring this member. Show Quote

It's more than hints. It's disclosed in their latest accounts.

Indeed. I meant the hints are that it could rival the Hun BTC in terms of juiciness. More than enough to finish off Hearts.

[Peevemor]

This quote is hidden because you are ignoring this member. Show Quote

The Rangers Newco has been offered a place in the English Conference South, but have declined.

They don't do Woking away.

[Caversham Green]

This quote is hidden because you are ignoring this member. Show Quote

Lots of people tweeting that Ticketus are "days away" from suing Craig Whyte for 27 million.


Edit: here's the story
http://www.bbc.co.uk/news/uk-scotlan...-west-18006383

Just had a thought about this. Ticketus can only sue CW for amounts they have actually lost so if they got say £2m out of a CVA they would chase the wee man for £25m. Rangers are their first call for the debt so a lawsuit would surely fail unless they could demonstrate that they had definitely lost the amount they were suing for. At the moment, they only have a potential loss and the exact amount isn't known yet - unless they know something that we don't.

[Saorsa]

This quote is hidden because you are ignoring this member. Show Quote

The Rangers Newco has been offered a place in the English Conference South, but have declined.

They don't do Woking away.

[ian cruise]

This quote is hidden because you are ignoring this member. Show Quote

Just had a thought about this. Ticketus can only sue CW for amounts they have actually lost so if they got say £2m out of a CVA they would chase the wee man for £25m. Rangers are their first call for the debt so a lawsuit would surely fail unless they could demonstrate that they had definitely lost the amount they were suing for. At the moment, they only have a potential loss and the exact amount isn't known yet - unless they know something that we don't.

I think it was announced that the contract they had entitling them to future ticket sales was void as they were in administration, therefore if they want their money it is a claim against Craig White, who personally guarenteed the deal.

[JeMeSouviens]

Just got round to reading El Chico's blog: what an utter, utter fanny.

Those who want Rangers wiped from the face of the planet for their misdemeanours, who want their chairmen to don the black cap when it comes to judgement day, are entitled to their opinion, but they should be prepared to live with the consequences.

Consider this: on a match day when Rangers are at home and Celtic away, far in excess of half the paying customers in the SPL are at Ibrox.

Remind me on what basis you can dispense with half your custom and still thrive and you, my friend, have found the secret of business heaven.

Consider this, arseface, whether Rangers are at home or Celtic away: unless they're playing Hibs I couldn't GAF.

Remind me on what basis it matters to my business if the customers of one of my competitor's business **** off and you, my friend, may have finally realised that "the good of Scottish football" is not equal to "the good of Rangers". Ya thick Hun twat.

[stokesmessiah]

This quote is hidden because you are ignoring this member. Show Quote

Just got round to reading El Chico's blog: what an utter, utter fanny.



Consider this, arseface, whether Rangers are at home or Celtic away: unless they're playing Hibs I couldn't GAF.

Remind me on what basis it matters to my business if the customers of one of my competitor's business **** off and you, my friend, may have finally realised that "the good of Scottish football" is not equal to "the good of Rangers". Ya thick Hun twat.

I think he has upset you somewhat?

[Cluny Hibs]

This quote is hidden because you are ignoring this member. Show Quote

The Rangers Newco has been offered a place in the English Conference South, but have declined.

They don't do Woking away.

[Caversham Green]

This quote is hidden because you are ignoring this member. Show Quote

I think it was announced that the contract they had entitling them to future ticket sales was void as they were in administration, therefore if they want their money it is a claim against Craig White, who personally guarenteed the deal.

As I understand it, when they lost that court hearing (not sure if the contract was actually declared void) they became ordinary creditors of RFC - which is why they're included in D&P's list of creditors. The initial contract was between Ticketus and Rangers even though the money found itselt resting CW's account.

[LancashireHibby]

This quote is hidden because you are ignoring this member. Show Quote

Just got round to reading El Chico's blog: what an utter, utter fanny.



Consider this, arseface, whether Rangers are at home or Celtic away: unless they're playing Hibs I couldn't GAF.

Remind me on what basis it matters to my business if the customers of one of my competitor's business **** off and you, my friend, may have finally realised that "the good of Scottish football" is not equal to "the good of Rangers". Ya thick Hun twat.

Exactly. It's not our custom that would be dispensed with, it's Rangers' custom. Their home crowds have got sweet sod all to do with any of the other clubs.

[Winston Ingram]

This quote is hidden because you are ignoring this member. Show Quote

As I understand it, when they lost that court hearing (not sure if the contract was actually declared void) they became ordinary creditors of RFC - which is why they're included in D&P's list of creditors. The initial contract was between Ticketus and Rangers even though the money found itselt resting CW's account.

I don't think they lost the hearing. I think the court refused to rule in either parties favour

[lapsedhibee]

This quote is hidden because you are ignoring this member. Show Quote

Just got round to reading El Chico's blog: what an utter, utter fanny.

Consider this, arseface, whether Rangers are at home or Celtic away: unless they're playing Hibs I couldn't GAF.

Remind me on what basis it matters to my business if the customers of one of my competitor's business **** off and you, my friend, may have finally realised that "the good of Scottish football" is not equal to "the good of Rangers". Ya thick Hun twat.

Eloquently put.

[down-the-slope]

This quote is hidden because you are ignoring this member. Show Quote

I don't think they lost the hearing. I think the court refused to rule in either parties favour

IIRC Judge said not enough info to...well judge

This reminds me of trying to untangle a really long rope / fishing line...if you don't get it undone quickly you are just as likely to make it worse creating more knots and make the job of untangling it harder or impossible...

I forcast lots of lawyers making a packet out of the job of trying though.....

[Lungo--Drom]

Well said, totally agree! :)

This quote is hidden because you are ignoring this member. Show Quote

Consider this, arseface, whether Rangers are at home or Celtic away: unless they're playing Hibs I couldn't GAF.

Remind me on what basis it matters to my business if the customers of one of my competitor's business **** off and you, my friend, may have finally realised that "the good of Scottish football" is not equal to "the good of Rangers". Ya thick Hun twat.

[green glory]

Chick Dung is a stupid wee f a n n y.

[snooky]

This quote is hidden because you are ignoring this member. Show Quote

Chick Dung is a stupid wee f a n n y.

He`s not so wee. He`s taller than you`d think.
You`re spot on with the rest of the description though.

[stokesmessiah]

http://www.bbc.co.uk/sport/0/football/18025377

Not seen this posted anywhere else.

Is it my imagination or did D&P not say there would be an announcement at noon today??

[1875godsgift]

This quote is hidden because you are ignoring this member. Show Quote

http://www.bbc.co.uk/sport/0/football/18025377

Not seen this posted anywhere else.

Is it my imagination or did D&P not say there would be an announcement at noon today??

Yip, I read that somewhere too.

Yet another deadline goes flying by!

[stokesmessiah]

SSN reporting that Rangers have taken a major step towards coming out of administration, can someone please tell me how?

[ian cruise]

This quote is hidden because you are ignoring this member. Show Quote

As I understand it, when they lost that court hearing (not sure if the contract was actually declared void) they became ordinary creditors of RFC - which is why they're included in D&P's list of creditors. The initial contract was between Ticketus and Rangers even though the money found itselt resting CW's account.

Youre probably right. So if Rangers do get the Collier Bristow money that must mean they accept the ticketus deal stands, they cant take the money and claim they dont need to pay it back surely? (The irony of that being what has put them into this position is not lost on me btw)

[jgl07]

This quote is hidden because you are ignoring this member. Show Quote

SSN reporting that Rangers have taken a major step towards coming out of administration, can someone please tell me how?

What with no buyer and no prospect of a CVA?

I suspect that is old news triggered by the nomination of Buffalo Bill Miller as preferred bidder last week. Maybe they haven't cottoned on to the fact that he has withdrawn?