Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

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It's the Registers of Scotland not the Land Registry! Looks like that security has been discharged but that is no guarantee there aren't others. Was that the security for the £5 Million.

There were 3 assets secured against the £5m loan, IIRC . The one shown is for the training ground. The others were the car park and.....? .....the intellectual property? (not at work so can't check)

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[Ozyhibby]

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There were 3 assets secured against the £5m loan, IIRC . The one shown is for the training ground. The others were the car park and.....? .....the intellectual property? (not at work so can't check)

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Edmiston House.
IP ownership was passed to SD but returns to Rangers retail when loan paid back.


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[CropleyWasGod]

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Edmiston House.
IP ownership was passed to SD but returns to Rangers retail when loan paid back.


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Cheers.

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[greenginger]

Looking more carefully at the document posted ,

It is dated 8/1/2016, and is an " Application for the discharge of a security "

The notes on the document state " until completed an application to register is subject to rejection. "

There are no lodgements on the Companies House web site altering Rangers Retail share ownership or the TRFC securities.

[greenginger]

https://johnjamessite.wordpress.com/.../11/wifi-woes/

Don't know if this was the source of last weeks arrestment rumours , but somebody's got them up in court tomorrow.

[Ozyhibby]

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https://johnjamessite.wordpress.com/.../11/wifi-woes/

Don't know if this was the source of last weeks arrestment rumours , but somebody's got them up in court tomorrow.

Tomorrow is the day the SD v RIFC contempt case is back in court in London as well.


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[brog]

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https://johnjamessite.wordpress.com/.../11/wifi-woes/

Don't know if this was the source of last weeks arrestment rumours , but somebody's got them up in court tomorrow.

p

I think it was this one. The ITK pundits mentioned both this & MA. Another skirmish before the war!

[CropleyWasGod]

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Looking more carefully at the document posted ,

It is dated 8/1/2016, and is an " Application for the discharge of a security "

The notes on the document state " until completed an application to register is subject to rejection. "

There are no lodgements on the Companies House web site altering Rangers Retail share ownership or the TRFC securities.

CH won't show anything until the charges have been "satisfied", ie discharged. The share ownership change probably won't appear until the next Annual Return.

[greenginger]

https://twitter.com/jamesdoleman?lang=en


James Doleman covering Sevco's home fixture today .

[Ozyhibby]

Counsel for Rangers tells court no prospect of insolvency, agrees with judge that there is no firm plan for share issue but is expected


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[Ozyhibby]

802 works are asking court to ringfence money at Rangers due to concerns they will become insolvent legal dispute over Ibrix WiFi settled


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[Ozyhibby]

Counsel for Rangers says financial position has improved and lenders are in place; no danger of insolvency


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[Ozyhibby]

Court now reviewing various docs on financial position of club.


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[Ozyhibby]

The total 810 works are asking to be ringfenced is £300, 000


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[Smartie]

This business in Glasgow could actually be very interesting today, more interesting than a lot of these silly wee spats in court.

I find it hard to make my mind up what I think about the reality of the financial situation at Ibrox. The Scottish media and Rangers would have us believe that "all is barry" yet the internet is full of bampots telling us they are in deep trouble and facing imminent danger (yet they never seem to topple over the edge).

Am I right in thinking a court is currently debating the short term danger that the club face?

It should be very interesting to see what evidence is put forward and the decision that is taken in the face of that evidence.

[Ozyhibby]

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This business in Glasgow could actually be very interesting today, more interesting than a lot of these silly wee spats in court.

I find it hard to make my mind up what I think about the reality of the financial situation at Ibrox. The Scottish media and Rangers would have us believe that "all is barry" yet the internet is full of bampots telling us they are in deep trouble and facing imminent danger (yet they never seem to topple over the edge).

Am I right in thinking a court is currently debating the short term danger that the club face?

It should be very interesting to see what evidence is put forward and the decision that is taken in the face of that evidence.

It also appears that the judge has also ruled Sevco have to pay £300k. Even if it's not ring fenced that's a result.


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[Brunswickbill]

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Tomorrow is the day the SD v RIFC contempt case is back in court in London as well.


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Chancery Div Royal Courts of Justice

COURT 31
Before MR JUSTICE PETER SMITH
Tuesday, 12 January 2016
At half past 10
INTERIM HEARINGS LIST
HC-2015-002185 Sports Direct International Plc v Rangers International Football Club Plc

[Ozyhibby]

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Chancery Div Royal Courts of Justice

COURT 31
Before MR JUSTICE PETER SMITH
Tuesday, 12 January 2016
At half past 10
INTERIM HEARINGS LIST
HC-2015-002185 Sports Direct International Plc v Rangers International Football Club Plc

James Doleman says its just the judgement getting handed down and he should get a copy later today.


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[PatHead]

Wonder how many other folk are waiting on being paid?

[Bostonhibby]

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Wonder how many other folk are waiting on being paid?

Their money will just be resting in the the rangers account. All big teams do it.

[Ozyhibby]

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Wonder how many other folk are waiting on being paid?

This is how it all starts. Small legal skirmishes, fans dismiss it as the other companies fault etc. Remember when Martin Bain got his redundancy pay off ring fenced before the old Rangers went bust? Seems to be following same pattern.


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[Ozyhibby]

http://www.philmacgiollabhain.ie/in-the-loop/

Phil claiming the scoop on this wifi case.


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[Geo_1875]

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This is how it all starts. Small legal skirmishes, fans dismiss it as the other companies fault etc. Remember when Martin Bain got his redundancy pay off ring fenced before the old Rangers went bust? Seems to be following same pattern.


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Very few companies will go to the expense of court action like this unless there are serious concerns over the solvency of a debtor.

However, don't be surprised if the judge refuses to find against The Rangers.

[Ozyhibby]

Breaking: Counsel for RFC tells Glasgow Sheriff Court that £5m loan to Sports Direct has been repaid.


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[Kato]

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Breaking: Counsel for RFC tells Glasgow Sheriff Court that £5m loan to Sports Direct has been repaid.

So that's them paid £10m for that debt?

Hope pinches of salt were being handed around the court.

[Ozyhibby]

Meanwhile in London, no judgment today in case of Sports Direct v Dave King and RFC. Listed hearing just for "case management."


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[brog]

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http://www.philmacgiollabhain.ie/in-the-loop/

Phil claiming the scoop on this wifi case.


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Help please Oz, I'm confused. Coincidental to my recent post the main part of the article is about Lewis MacLeod but that story, based on the comments, seems to be from Dec 2014. Meanwhile the story about the WIFI seems to be up to date! Interesting about the offshore aspect of the WIFI also!

[Ozyhibby]

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Help please Oz, I'm confused. Coincidental to my recent post the main part of the article is about Lewis MacLeod but that story, based on the comments, seems to be from Dec 2014. Meanwhile the story about the WIFI seems to be up to date! Interesting about the offshore aspect of the WIFI also!

Not sure myself. The wifi has not been working for about a year now so it could be the company cut them off when the stopped paying. Maybe it's taken a year to get to this stage? Could also be that Phil got lucky with his numbers.


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[brog]

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Not sure myself. The wifi has not been working for about a year now so it could be the company cut them off when the stopped paying. Maybe it's taken a year to get to this stage? Could also be that Phil got lucky with his numbers.


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Yep, I suddenly realised the whole article could be from a year ago. This is almost like watching the Yam house of cards collapse again!

[Ozyhibby]

Hearing in case of 810 v Rangers FC adjourns. now waiting Sherriff telling us when he will decide on proposed £300,000 arrestment warrant.


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