ex-montrosesaintee Posted February 10, 2012 Report Share Posted February 10, 2012 Murray sure as hell is the guy the Rangers fans should be angry with. Can't argue with that. Quote Link to comment Share on other sites More sharing options...
john1962 Posted February 13, 2012 Report Share Posted February 13, 2012 Administration http://news.stv.tv/scotland/west-central/297387-rangers-to-go-into-administration/ Quote Link to comment Share on other sites More sharing options...
Stamford Saintee Posted February 13, 2012 Report Share Posted February 13, 2012 Administration http://news.stv.tv/scotland/west-central/297387-rangers-to-go-into-administration/ Dreadful news! :laugh: :laugh: :laugh: :laugh: :laugh: Quote Link to comment Share on other sites More sharing options...
slf Posted February 13, 2012 Report Share Posted February 13, 2012 Administration http://news.stv.tv/scotland/west-central/297387-rangers-to-go-into-administration/ dundee are being approached to see how they got away with being admin kings and screwing there creditors. fecking joke of a club. Quote Link to comment Share on other sites More sharing options...
Dr Christmas Jones Posted February 13, 2012 Report Share Posted February 13, 2012 Meadowbank Thistle,Airdrieonians,Gretna,Rangers. Quote Link to comment Share on other sites More sharing options...
slf Posted February 13, 2012 Report Share Posted February 13, 2012 the bigger they are the harder they fall Quote Link to comment Share on other sites More sharing options...
slf Posted February 13, 2012 Report Share Posted February 13, 2012 Meadowbank Thistle,Airdrieonians,Gretna,Rangers. braw but don't forget clydebank. Quote Link to comment Share on other sites More sharing options...
MUMBO JUMBO Posted February 13, 2012 Report Share Posted February 13, 2012 Third Lanark [ who also ran out of money ] Quote Link to comment Share on other sites More sharing options...
garydavidson Posted February 13, 2012 Report Share Posted February 13, 2012 Motherwell also Can't wait to hear Rangers fans being interviewed and blaming Whyte and not Murray. Quote Link to comment Share on other sites More sharing options...
Broon Posted February 13, 2012 Report Share Posted February 13, 2012 I expect this is a desperate attempt to get the Inland Reveue to settle out of court. If the court rules Rangers owe £49 million and they go into Administration the Inland Revenue will get only a fraction of this. If Rangers are signalling their intent to go into Administration the Inland Revenue must be acutely aware they are not going to be getting paid the full amount and may be tempted to settle. That is of course is if the above is even possible at this stage. Quote Link to comment Share on other sites More sharing options...
MUMBO JUMBO Posted February 13, 2012 Report Share Posted February 13, 2012 There is a "football creditor" case at the High Court with a judgement due possibly this week. This case has HM Revenue and Customs as the pursuer. They are attempting to over rule the present standing to give "football related creditors " preferential status in an administration or liquidation. Their belief that all unsecured creditors such as small traders, "football related creditors" and HM Revenue have equal status. This action by HM Revenue was taken as a consequence of the Portsmouth administration whereby the Revenue were due £37million but only received £7million because of the preferential treatment to "football related creditors " I wonder if this anticipated Court judgement will have implications for Craig Whyte ? and the reason he acted today. Quote Link to comment Share on other sites More sharing options...
ancientsaint Posted February 13, 2012 Report Share Posted February 13, 2012 Third Lanark [ who also ran out of money ] Third Lanark Rangers sounds about right -Larkhalls finest ! Quote Link to comment Share on other sites More sharing options...
ODAB Posted February 13, 2012 Report Share Posted February 13, 2012 (edited) The inland revenue will not accept a cva or an agreement that gives them anything other than 100 percent of their money. Or certainly that has always been their stance in the past. Hence why if a club is going through difficulties they try and pay the tax man first. They have to be seen to be doing the right thing. However when you are dealing with a company the size of Rangers it may change their mind. Just read the post by Mumbo with regards to Portsmouth. Did the Inland revenue accept the CVA on these terms? They would surely have been amongst the biggest creditors and I thought that if the majority voted against a CVA then it wouldn't be accepted. Edited February 13, 2012 by ODAB Quote Link to comment Share on other sites More sharing options...
Doctorsaint Posted February 13, 2012 Report Share Posted February 13, 2012 Look like Rangers new that they were going to lose the case against HM Revenue only winner that will come out of this will be Craig Whyte himself i wounder how many Ger fans are sweating tonight this might be the first time saint might finish higher then the gers this season. Quote Link to comment Share on other sites More sharing options...
Guest Harry Curran's Love child Posted February 13, 2012 Report Share Posted February 13, 2012 Administration http://news.stv.tv/scotland/west-central/297387-rangers-to-go-into-administration/ Excellent Quote Link to comment Share on other sites More sharing options...
templeofsaints Posted February 13, 2012 Report Share Posted February 13, 2012 Oh dear. How Sad. Never mind Quote Link to comment Share on other sites More sharing options...
BroganGoals Posted February 13, 2012 Report Share Posted February 13, 2012 It will be interesting to see what Rangers assets are? If reports in the press are to be believed they don’t own Murray Park, they don’t own Ibrox and don’t own the next four season ticket revenue, or atleast a chunk of it. You would think that Ticketus would have some sort of security before entering into this agreement. If they don’t come out of administration before a certain date will they be relegated? I don’t think the SPL will want to delay and delay the fixtures for next season. Quote Link to comment Share on other sites More sharing options...
saintee69 Posted February 13, 2012 Report Share Posted February 13, 2012 There is no doubt Craig Whyte knew the situation he was getting into when he took over. If he has paid for the club through selling the season ticket rights for the next four seasons and cleared the bank debt, he can then let the club go into administration (therefore the HM revenue debt all but disappears), rebrand as Rangers AFC or whatever and run the gauntlet of hate from the Govan "faithful" for 4 seasons which will leave him a debt free club to sell. Not too bad a deal for a quid. Quote Link to comment Share on other sites More sharing options...
Jimmy Wallace Posted February 13, 2012 Report Share Posted February 13, 2012 (edited) It will be interesting to see what Rangers assets are? If reports in the press are to be believed they don’t own Murray Park, they don’t own Ibrox and don’t own the next four season ticket revenue, or atleast a chunk of it. You would think that Ticketus would have some sort of security before entering into this agreement. If they don’t come out of administration before a certain date will they be relegated? I don’t think the SPL will want to delay and delay the fixtures for next season. They do own Ibrox and Murray Park, but there are restrictions on what could be done with the land they are on, thus making them less saleable. Apparently Murray Park cannot be used for housing and the main stand at Ibrox is listed meaning you couldn't knock it down. This article explains it all: http://www.bbc.co.uk/sport/0/football/17018062 Edited February 13, 2012 by Jimmy Wallace Quote Link to comment Share on other sites More sharing options...
MrBored Posted February 13, 2012 Report Share Posted February 13, 2012 You would also imagine that the players are an asset as well...so in theory they should all be sold to raise as much funds for the creditors as possible. Won't happen, but it should. Quote Link to comment Share on other sites More sharing options...
Jimmy Wallace Posted February 13, 2012 Report Share Posted February 13, 2012 i wounder how many Ger fans are sweating tonight this might be the first time saint might finish higher then the gers this season. not many. Even in admin they'd be 16 points ahead of us! Quote Link to comment Share on other sites More sharing options...
Real Madrid Posted February 13, 2012 Report Share Posted February 13, 2012 Just read the post by Mumbo with regards to Portsmouth. Did the Inland revenue accept the CVA on these terms? They would surely have been amongst the biggest creditors and I thought that if the majority voted against a CVA then it wouldn't be accepted. Portsmouth were only able to get a CVA when the courts set the level of Portsmouth's debt to HMRC's debt at 24m. HMRC had argued that that debt was 37m and this dragged on in the courts for a while. Thus with the reduced debt 81.3% of Portsmouth's creditors voted for it and HMRC and a few others voted against but once your over the threshold of 76% (I think) then they had to accept the payment. Could this mean the debt due in Rangers case is not as high as 49M but high enough to cause them issues that they can solve with an insolvency event as they seem to call it these days. Quote Link to comment Share on other sites More sharing options...
MySpazz Posted February 13, 2012 Report Share Posted February 13, 2012 THIS IS GOOD NEWS FOR US.... If Rangers qualify for Europe next season, will they be allowed to play in European competition? That depends. If they come out of administration as the same entity, their license to compete in Uefa competitions would be issued by the Scottish Football Association, provided they had exited administration by the end of March. Quote Link to comment Share on other sites More sharing options...
Guest Harry Curran's Love child Posted February 13, 2012 Report Share Posted February 13, 2012 Is it a 10 point deduction for entering administration? Quote Link to comment Share on other sites More sharing options...
BroganGoals Posted February 13, 2012 Report Share Posted February 13, 2012 Its the players and other Ibrox staff you have to feel sorry for. There are bound to be members of staff who will lose their jobs. Worst day of my life was going into an administration meeting at a job I had. I was okay but others were not. Yet they signed a player on £5k to £7.5k per week, confirmed today!!! Quote Link to comment Share on other sites More sharing options...
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