Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

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So confusing.......

If that was successful - would The Rangers get the benefit?

No. It would go to the creditors (including you and I) and the lawyers etc involved.

It might have the side effect of fuelling the myth that the liquidation should never have happened. But if that winds up the hordes, so be it.

[greenginger]

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No. It would go to the creditors (including you and I) and the lawyers etc involved.

It might have the side effect of fuelling the myth that the liquidation should never have happened. But if that winds up the hordes, so be it.

Why would it be Duff and Phelps fault that there was no offers for Rangers Football Club that the creditors , mainly HMRC, would accept ?

[oldbutdim]

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No. It would go to the creditors (including you and I) and the lawyers etc involved.

It might have the side effect of fuelling the myth that the liquidation should never have happened. But if that winds up the hordes, so be it.

Thanks.
Sounds a decent outcome if it comes to pass.

[CropleyWasGod]

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Why would it be Duff and Phelps fault that there was no offers for Rangers Football Club that the creditors , mainly HMRC, would accept ?

It's the add-on to the CVA that is the issue. That is what is they are being sued for just now. That they could have got more for the creditors than they did.

Other than that, like I say it's a myth that the insolvency or the liquidation should never have happened.

[Hibernia&Alba]

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Rangers are an old club. Sevco are a new one. Everybody knows that. Sevco fans just can't hack it though.

But they were allowed to keep their history and trophies, which still rankles. They should have been told by UEFA and the SFA, "right you *****, this is day one for your new club; get on with it".

[Caversham Green]

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Does anyone actually believe rangers are a new club or is it just for the banter 😂

If they were the same club they would have suffered a nine point penalty in the season when the insolvency event occurred and remained in the top flight for the following season. That's all the rules realistically allowed for. They might well have achieved the 55th title they wrongly claim to have done now. What happened is that the new club were given favourable treatment because of the financial clout they carried into the game. The club that won the premiership this season is the club that replaced Rangers or TCTRR to save future typing.

[Eyrie]

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But they were allowed to keep their history and trophies, which still rankles. They should have been told by UEFA and the SFA, "right you *****, this is day one for your new club; get on with it".

Long time ago now, but I thought that Sevco bought all that from the liquidators.

For one pound. Our noxious neighbours missed a trick there.

[HoboHarry]

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Long time ago now, but I thought that Sevco bought all that from the liquidators.

For one pound. Our noxious neighbours missed a trick there.

It was more important for them to put that pound towards a periscope so they could see the castle.....

[Hibernia&Alba]

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Long time ago now, but I thought that Sevco bought all that from the liquidators.

For one pound. Our noxious neighbours missed a trick there.

They bought over a hundred trophies for a pound. Hibs have missed a trick here.

[CropleyWasGod]

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They bought over a hundred trophies for a pound. Hibs have missed a trick here.

IIRC, £5 was allocated to "intangibles" (they might have used another word). That included the badges, the "brand", something else, a couple of things that they didn't have the right to sell (SPL share and SFA membership, which had to be returned). There may also have been a songbook or 2 in there.

[ancient hibee]

Three boxes of flutes?

[Killiehibbie]

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Liquidation did happen.

And we should never let them and their pals in the media forget it.

[EI255]

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She's just a 90 minute bigot.

With Rangers fans, its way, way worse than that.

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[Eyrie]

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IIRC, £5 was allocated to "intangibles" (they might have used another word). That included the badges, the "brand", something else, a couple of things that they didn't have the right to sell (SPL share and SFA membership, which had to be returned). There may also have been a songbook or 2 in there.

Gotcha.

Could you imagine how much the liquidator could have got for the badges, the "brand", something else and a couple of things that they didn't have the right to sell if he hadn't insisted that the buyer had to take the songbook as well?

[Billy Whizz]

https://www.rangers.co.uk/article/ra...eSYaCk7tcPghwA

Begging bowl out again

[HoboHarry]

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https://www.rangers.co.uk/article/ra...eSYaCk7tcPghwA

Begging bowl out again

Wonder if the dafties have learned how much in damages they have to pay Mike Ashley and need the cash?

[Kato]

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She's just a 90 minute bigot.

She spreads that 90 minutes through the week to as and when she wants to say racist stuff.

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[007]

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https://www.rangers.co.uk/article/ra...eSYaCk7tcPghwA

Begging bowl out again

How does that work again? They'll be getting shares in the 10 year old company which, according them, is totally separate from the club that continued after the previous company went bust. So they won't actually be buying into the entity which has won any of the trophies.

[greenginger]

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How does that work again? They'll be getting shares in the 10 year old company which, according them, is totally separate from the club that continued after the previous company went bust. So they won't actually be buying into the entity which has won any of the trophies.

Except, there was no previous separation of club and company, so the company that went bust in 2012 was the football club that won 54 titles.

Suppose one advantage for the new club is they can’t be blamed for the carnage in Manchester, Barcelona etc.

[HoboHarry]

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Except, there was no previous separation of club and company, so the company that went bust in 2012 was the football club that won 54 titles.

Suppose one advantage for the new club is they can’t be blamed for the carnage in Manchester, Barcelona etc.

In their feeble minds they bear no responsibility for the damage in George Square a couple of weeks ago either....

[Hibs Class]

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https://www.rangers.co.uk/article/ra...eSYaCk7tcPghwA

Begging bowl out again

Have they by any chance mentioned 55 titles and that they are around 150 years old?

[HoboHarry]

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Have they by any chance mentioned 55 titles and that they are around 150 years old?

There'll be a lot of tv's being passed out of windows to try and raise money to buy in to that scheme.....

[Bostonhibby]

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There'll be a lot of tv's being passed out of windows to try and raise money to buy in to that scheme.....

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[007]

https://www.heraldscotland.com/news/...-another-team/

The Glasgow Blues 😀

[ahibby]

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https://www.heraldscotland.com/news/...-another-team/

The Glasgow Blues 😀

To the tune if Rule Britania

Liii quidation
The Rangers cant be saved
The Rangers never never never
Can be saved

[AliboyFC]

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To the tune if Rule Britania

Liii quidation
The Rangers cant be saved
The Rangers never never never
Can be saved

We should song that to rangers fans when we get back in grounds.

[CropleyWasGod]

A summary of where we are up to in Season 10


https://www.creditstrategy.co.uk/turnaround-restructuring-insolvency-news/turnaround-restructuring-and-insolvency-news/bdo-suit-against-former-rangersrsquo-administrators-what-wersquove-learnt

[CropleyWasGod]

A bit of a blow to the liquidators and the creditors.

http://https://www.thenational.scot/...ation/?ref=rss

Only awarded £3.4m in their case against D&P, rather than the £47m they were seeking.

However, it does confirm that D&P didn't do their job properly.

It remains to be seen whether BDO will appeal.

[HoboHarry]

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A bit of a blow to the liquidators and the creditors.

http://https://www.thenational.scot/...ation/?ref=rss

Only awarded £3.4m in their case against D&P, rather than the £47m they were seeking.

However, it does confirm that D&P didn't do their job properly.

It remains to be seen whether BDO will appeal.

The Govan dafties will think the money will be available for transfers in January lol.......

[Mick O'Rourke]

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To the tune if Rule Britania

Liii quidation
The Rangers cant be saved
The Rangers never never never
Can be saved

Tell all the huns you know
That the rAngers are died and no more
The club could not pay, so the huns walked away
So old rangers is deed and no more