Generic Sevco / Rangers meltdown thread

[Bostonhibby]

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From the BBC updates page



In the away end again. Ally must not have time to get the gazebo up today

[IMG=http://news.bbcimg.co.uk/media/images/81442000/jpg/_81442733_7f36c647-73ac-4c75-826b-950e8705b1e4.jpg]

Bonkers when you consider how he deliberately left his resignation to the moment he did so he could squeeze maximum cash out of them for doing nothing before doing walking away.

Oh, and he is largely responsible for the team they currently have. We should be thankful for that

[CropleyWasGod]

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IF Dave king repays Ashley's loan of 10mill does MA still hold 80% of merchandising or is that just terms on the duration of that loan deal?

The merchandising deal is separate to the loan deal.

[DarrenSQH]

Thats the meeting over in 10 mins. They will publish the rsults later. I would be shocked if its anything other than going along with King.

[Matty_Jack04]

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The merchandising deal is separate to the loan deal.

Thanks CWG

[Iain G]

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Thats the meeting over in 10 mins. They will publish the rsults later. I would be shocked if its anything other than going along with King.

Fingers crossed! Fireworks about to begin as Ashley starts flexing his muscles?

[Ryan69]

Nice too see Sally taking his gardening duties seriously....I'd of thought however there may of been a better time to cut the grass.

[lord bunberry]

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I would'nt have thought that would make any difference. It would be easy to get a couple of stooges to set up a Phoenix company , then the real operators to move in unhindered.

Are the rules that black and white?the scenario you suggest clearly isn't what happened in this instance.

[CropleyWasGod]

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Are the rules that black and white?the scenario you suggest clearly isn't what happened in this instance.

In my understanding of the phrase, what happened in Rangers' case is not a Phoenix situation. That would have been the case had Craig Whyte set up a new company to buy the assets of the old company.

[CropleyWasGod]

The Record reporting 85% in favour of the resolutions.

[grunt]

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The Record reporting 85% in favour of the resolutions.

Apparently the Easdales abstained - their 20% was expected to go against DK.
If this number is correct, then DK was right in saying that it was a landslide victory.

[lord bunberry]

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In my understanding of the phrase, what happened in Rangers' case is not a Phoenix situation. That would have been the case had Craig Whyte set up a new company to buy the assets of the old company.

That was my take on it as well. I presume these laws were brought in to prevent companies fraudulently shedding debt and continuing on their merry way under the same owners. Both Murray and King wouldn't fall into this category

[greenginger]

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That was my take on it as well. I presume these laws were brought in to prevent companies fraudulently shedding debt and continuing on their merry way under the same owners. Both Murray and King wouldn't fall into this category

Yeah, but how do you prove a stooge is not a stooge, or is a stooge as the case may be.

I think the laws were drafted to suit normal business environments not the world of football

[CropleyWasGod]

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Apparently the Easdales abstained - their 20% was expected to go against DK.
If this number is correct, then DK was right in saying that it was a landslide victory.

Dont see how the numbers work then.

If 85% are in favour. ...and 20% abstained. ...

Hunonomics.

[greenginger]

http://www.londonstockexchange.com/e.../12273128.html



Official Sevco voting results.

Big Mike tanked.

[Andy74]

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Dont see how the numbers work then.

If 85% are in favour. ...and 20% abstained. ...

Hunonomics.

Could have been 85% of those who voted.

[AndyM_1875]

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http://www.londonstockexchange.com/e.../12273128.html



Official Sevco voting results.

Big Mike tanked.

That's fairly emphatic!

[SteveHFC]

Are they in administration yet?

[CropleyWasGod]

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Could have been 85% of those who voted.

Yeah, that's what it was.

[MrSmith]

Bad move! I don't think the know what they have done. I guess there is still time if DK fails the fit and proper test?? But right now, NewCo fans have opened the hell gates ...

[Hermit Crab]

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http://www.londonstockexchange.com/e.../12273128.html



Official Sevco voting results.

Big Mike tanked.

Does that mean big Mike can/will recall the loan players and ask for his loans back immediately??

[marti1875]

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Does that mean big Mike can/will recall the loan players and ask for his loans back immediately??

That's the big question as no-one knows what he will do next as he seems one to keep very quiet and then just make a move.

If his 2 men on the board get booted when the conditions of the loans he gave the club were that he has to have 2 of his men on the board for the duration of the loans then that's where it could get nasty....or good and entertaining for the likes of us......so best just to sit back and enjoy the show and see what happens next!

I think MA knew fine the vote was lost anyway so it won't have come as any surprise so he's probably well prepared for all scenarios taking place in the very near future.

[greenginger]

http://www.londonstockexchange.com/e.../12273215.html

Its a three man board now. Murray and Gilligan have added Park to the party.

[jacomo]

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http://www.londonstockexchange.com/e.../12273215.html

Its a three man board now. Murray and Gilligan have added Park to the party.

With the King on speaker phone, no doubt.

Well done Der Hun, you've launched the two guys trusted by your billionaire investor, large creditor and controller of the merchandising operation. What could possibly go wrong?

[Hermit Crab]

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With the King on speaker phone, no doubt.

Well done Der Hun, you've launched the two guys trusted by your billionaire investor, large creditor and controller of the merchandising operation. What could possibly go wrong?

They will come out smelling of roses like hearts did. You watch. Just a hunch. Corruption, sfa ***** bags etc

[CB_NO3]

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They will come out smelling of roses like hearts did. You watch. Just a hunch. Corruption, sfa ***** bags etc

Not so sure. Hearts were playing with a new small naive country who panicked when the British MPs got involved. Ashley is no mug and has an ego on him the size of his gut.

[Hermit Crab]

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Not so sure. Hearts were playing with a new small naive country who panicked when the British MPs got involved. Ashley is no mug and has an ego on him the size of his gut.

Popcorns in the micro getting ready for this.

[andrew70]

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They will come out smelling of roses like hearts did. You watch. Just a hunch. Corruption, sfa ***** bags etc

Hearts have done well this season. They will, though, struggle next year - on the pitch at least.

Off the pitch I don't buy into the idea that everything is 'rosy' and I certainly don't believe they will be fan owned in five years time.

Once a club suffers administration/liquidation it is very hard to move on properly from that. It will catch up with Hearts like it has done with Rangers, Dunfermline, Airdrie, Leeds, Portsmouth etc.

[greenginger]

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With the King on speaker phone, no doubt.

Well done Der Hun, you've launched the two guys trusted by your billionaire investor, large creditor and controller of the merchandising operation. What could possibly go wrong?

How long did it take to get Park in the door ?

Could that be evidence for King and Park being part of a " concert party " resulting in them having to make an offer for all Rangers shares at the highest closing price in the last 12 months.

I dare say Ashley would love to get his share money back with interest and all the juicy deals in tact.

[PeeKay]

Am I reading the result of the votes correctly? Were only 66% of eligible votes actually cast (column headed "% of ISC voted")?

[Glorious St Pat]

How will King get past the 'fit and proper' test when the SFA rule (10.2) States that any individual May not be fit if:
Convicted in the last 10 years.
An offence liable to imprisonment (2yrs) or more.
Corruption of fraud.

King's SA fines in 2013 were over £700,000 or to accept a 4 year jail sentence. He is also to pay back £44m in back taxes.