Generic Sevco / Rangers meltdown thread

[greenginger]

Mike Ashley is the sole director of Mash holdings Ltd. Maybe thinks there's no need to have headed paper.

[Spike Mandela]

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Mike Ashley is the sole director of Mash holdings Ltd. Maybe thinks there's no need to have headed paper.

Maybe he's hoping to put the Rangers crest on it?

[CropleyWasGod]

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Mike Ashley is the sole director of Mash holdings Ltd. Maybe thinks there's no need to have headed paper.

Official communications still need certain information.

https://www.gov.uk/running-a-limited...ional-material

In that light, those letters wouldn't get much serious attention.

[Treadstone]

I've had a wee look at Betfair and it'll take £156 to squeeze the market depth on Hibs to win the championship. Nothing sets bum squeaking more than a price colllapse on the team most likely to profit from a Sevco misfortune.

[greenginger]

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Official communications still need certain information.

https://www.gov.uk/running-a-limited...ional-material

In that light, those letters wouldn't get much serious attention.

The letter has the Company name and registered address but not the company registration number. The letter we see may have come with a covering letter with all the info.

The signature is at least a good copy of Mike Ashley's scrawly signature on his accounts , if not the real thing.

[Weststandwanab]

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I've had a wee look at Betfair and it'll take £156 to squeeze the market depth on Hibs to win the championship. Nothing sets bum squeaking more than a price colllapse on the team most likely to profit from a Sevco misfortune.

To those of us who either do not bet, or like me put £1 on at the stadium on Riordan/Fletcher/Cummings to score the first goal, what does that actually mean ?

[Treadstone]

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To those of us who either do not bet, or like me put £1 on at the stadium on Riordan/Fletcher/Cummings to score the first goal, what does that actually mean ?

Currently there is the availability to bet £113 at 7.2 (just over 6/1). When that £113 goes the next price moves up the ladder ( currently only £13 available at just over 5s) and so on.

Usually ante post markets give a good guide to form/fitness/intentions for horses. People close to stables or info can make a few quid with little or no risk.

[AndyM_1875]

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I'd accept a 15 point deduction, on the proviso that Dave King, john Greig and Walter Smith stand on the steps of Ibrox and solemnly declare:

'This is a new club, formed in 2012. The stars on the shirt are a fraud. They refer to the old Rangers, and that one is dead.'

Balls to that. Same club = MINUS 25.

[Weststandwanab]

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Currently there is the availability to bet £113 at 7.2 (just over 6/1). When that £113 goes the next price moves up the ladder ( currently only £13 available at just over 5s) and so on.

Usually ante post markets give a good guide to form/fitness/intentions for horses. People close to stables or info can make a few quid with little or no risk.

Thank you.

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Balls to that. Same club = MINUS 25.

Now if this comes to pass it will be a dilemma for your average Sevconian.

If they are the same club (Keep all the badges) 25 points but if they want to take 15 points they will have to admit they are only 3 years old and surrender the badges.

Excuse the No Surrender pun.

[MrSmith]

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Now if this comes to pass it will be a dilemma for your average Sevconian.

If they are the same club (Keep all the badges) 25 points but if they want to take 15 points they will have to admit they are only 3 years old and surrender the badges.

Excuse the No Surrender pun.

Win Win? ;) brill!

[Smartie]

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I'd accept a 15 point deduction, on the proviso that Dave King, john Greig and Walter Smith stand on the steps of Ibrox and solemnly declare:

'This is a new club, formed in 2012. The stars on the shirt are a fraud. They refer to the old Rangers, and that one is dead.'

I'm with you on this only I'd go a wee bit further.

After making your statement I'd like to see them lead a selection of good Rangers men (including but not limited to Ally McCoist, Mark Hateley, Richard Gough, Andy Cameron, Noel Edmonds, Maggie Thatcher, Adolf Hitler and Fred West) in a big performance of the dance from Michael Jackson's Thriller.

[Brunswickbill]

Rule E5 of SPFL

Where a Club, whether owned and operated by the same or a different Member, suffers or is subject to an Insolvency Event which results in a deduction of points in terms of these Rules and within 5 years of the date of such Insolvency Event suffers or is subject to a further Insolvency Event which is not part of the same Insolvency Process as the Insolvency Event then suffered, the points deduction applicable in terms of Rules E1 in respect of that second or further Insolvency Event, shall be 25 points with the 15 points in Rules E2 and E3 being 25 Points.

Looks to me that the debate over old or new club doen't come into it. -25 points.

[AndyM_1875]

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Now if this comes to pass it will be a dilemma for your average Sevconian.

If they are the same club (Keep all the badges) 25 points but if they want to take 15 points they will have to admit they are only 3 years old and surrender the badges.

Excuse the No Surrender pun.

Administration would have Rangers second bottom and on 8 points...

[hibbytam]

How would a second admin work? Is it simply a case of the bank balance hitting 0, with no overdraft?
Ashley £5M loan aside, who else would they owe money to? Surely anyone working with them would demand payments up front.
If it's just mike, does he have final say over any post admin agreements?

[PatHead]

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Thank you.



Now if this comes to pass it will be a dilemma for your average Sevconian.

If they are the same club (Keep all the badges) 25 points but if they want to take 15 points they will have to admit they are only 3 years old and surrender the badges.

Excuse the No Surrender pun.

Cmon the multi quotes!

Not seen many posts lately.

[Jim44]

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How would a second admin work? Is it simply a case of the bank balance hitting 0, with no overdraft?
Ashley £5M loan aside, who else would they owe money to? Surely anyone working with them would demand payments up front.
If it's just mike, does he have final say over any post admin agreements?

I wouldn't bank on that assumption. I bet there are lots of companies dealing with Sevco on a normal basis despite their previous record. Look at the situation with Heriot Watt and the Jambos. They were falling over themselves to let the Jambos continue to use the training facilities even after being shafted rotten for thousands of pounds. I think I've got that right.

[PatHead]

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Thank you.



Now if this comes to pass it will be a dilemma for your average Sevconian.

If they are the same club (Keep all the badges) 25 points but if they want to take 15 points they will have to admit they are only 3 years old and surrender the badges.

Excuse the No Surrender pun.

BTW rules changed they will get 25 points irrespective of old or new club.

[CropleyWasGod]

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Thank you.



Now if this comes to pass it will be a dilemma for your average Sevconian.

If they are the same club (Keep all the badges) 25 points but if they want to take 15 points they will have to admit they are only 3 years old and surrender the badges.

Excuse the No Surrender pun.

There's no argument IMO. It's 25 points. The rules are clear.

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[southern hibby]

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I wouldn't bank on that assumption. I bet there are lots of companies dealing with Sevco on a normal basis despite their previous record. Look at the situation with Heriot Watt and the Jambos. They were falling over themselves to let the Jambos continue to use the training facilities even after being shafted rotten for thousands of pounds. I think I've got that right.

Not sure how true this is but heard that HWU has been promised a substantial amount of money to get their sports area redeveloped and up to a set standard because of community use which includes them using the place that's why they are happy to let them re-use the facilities.

Not saying any of this is true but you never know.

GGTTH

[greenginger]

And to add to the Sevco news ......



http://www.scotland-judiciary.org.uk...ngs-and-others

Big Tax Case decisions announced tomorrow.

[bingo70]

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And to add to the Sevco news ......



http://www.scotland-judiciary.org.uk...ngs-and-others

Big Tax Case decisions announced tomorrow.

Will that have any impact on the new rangers?

[CropleyWasGod]

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Will that have any impact on the new rangers?

Not directly.

It may have an impact on the dividend to creditors, of whom King is one. In that light, it would affect the amount that he could invest in the club.

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[CropleyWasGod]

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How would a second admin work? Is it simply a case of the bank balance hitting 0, with no overdraft?
Ashley £5M loan aside, who else would they owe money to? Surely anyone working with them would demand payments up front.
If it's just mike, does he have final say over any post admin agreements?

If they have been living hand to mouth for a while, which most companies who have problems do, it's likely that the creditors list will be pretty big. Not sure if it will be as big as the last time, though.

As for any administration, MASH is a secured creditor, so wouldn't have any say in a CVA. It would be down to the ordinary creditors to decide on that. As ever, HMRC would be a major player.

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[greenginger]

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Not directly.

It may have an impact on the dividend to creditors, of whom King is one. In that light, it would affect the amount that he could invest in the club.

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I thought King had his claim as a creditor rejected by BDO a couple of weeks ago.

Probably when you were swanning about on your hols.

[Jack]

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Not directly.

It may have an impact on the dividend to creditors, of whom King is one. In that light, it would affect the amount that he could invest in the club.

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Not if the Herald is to be believed ...

RANGERS chairman Dave King has had a claim for millions from the £18 million club oldco creditors pot thrown out by liquidators.

http://m.heraldscotland.com/news/13716072.Rangers_chairman_has_multi_million_claim_ on___18m_oldco_creditors_pot_rejected/

[greenginger]

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Not if the Herald is to be believed ...

RANGERS chairman Dave King has had a claim for millions from the £18 million club oldco creditors pot thrown out by liquidators.

http://m.heraldscotland.com/news/137..._pot_rejected/

Even blue-nose media say it was rejected.

http://forum.rangersmedia.co.uk/inde...owtopic=287528

[CropleyWasGod]

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I thought King had his claim as a creditor rejected by BDO a couple of weeks ago.

Probably when you were swanning about on your hols.

Ah i forgot that.

Chinese telly reported that Socialist hero Dave "Fidel " King was winning the class war against the running dogs of imperialism.

Okay....scratch my earlier reply. Don't think it will make any difference to the current company.



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[jacomo]

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Even blue-nose media say it was rejected.

http://forum.rangersmedia.co.uk/inde...owtopic=287528

Ah, shame.

[Weststandwanab]

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Administration would have Rangers second bottom and on 8 points...

Indeed but they may try and wait until they are further ahead before accepting the 25 points assuming they last that long.

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Cmon the multi quotes!

Not seen many posts lately.

Complain when I do and then complain when I don't, what does that remind you of ?

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BTW rules changed they will get 25 points irrespective of old or new club.

Yes, sorry I forgot about that change.

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There's no argument IMO. It's 25 points. The rules are clear.

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Yes, you are correct.

[Ozyhibby]

@alextomo: The ever-helpful HMRC have written : "Good evening Alex, the Rangers judgment is out tomorrow."

Would HMRC know the result by now? Could their willingness to notify journo's be an indication they got a positive result?


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