Bolton sale an assets to newco job - oldco to be liquidated

No demotion?,
No fine well above the league rules?,
No confiscation of prize money?
No confiscation of transfer monies?,
No confirms with RIP in media?
No radio shows allowing rivals to gloat?,
No pure out and out hatred from league chairmen?,
No failure of the English FA and EFL towards one of its oldest member clubs?

Funny that, but in Scotland it's The Rangers FC and its supporters who are made to be the bad yins?

Scotlands most successful football team was floundering because of charlatans and money greedy vultures but near the whole of non Rangers supporters, league club chairmen, print, radio and Tv media,football pundits and majority of politicians danced with glee?

Scotlands shame at the time!
 
tm91 said:
From a footballing perspective yep. Also important if the intellectual property/branding is also passed along with the physical assets of course. The thing a lot of people who sprout the 'Sevco' stuff don't get (assuming that they're not just being deliberately obtuse, which is admittedly a big assumption) is that the whole point of doing things this way *is* to keep the business alive as a going concern. If it didn't achieve this you'd be as well setting up a phoenix club or starting again from scratch.

I've had to correct a few English folks about this recently. Amazing how misunderstood this is even after years.
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The entity of the 'club' is almost certainly the goodwill. Whoever bought that owns the club.
 
I see they signed 9 players yesterday.

What happened to the transfer ban? :rolleyes:
 
"You're not Bolton anymore...."

Said no one ever

Huge support and sympathy for Bolton, as it should be. Where was it for us?
 
Have they applied to join the league yet after being thrown out? Did they get fined heavily for being in debt? Have they had all their transfer, tv, and prize money withheld to share among the other teams?
Have the others teams setup up boycotts of their clubs unless they kill Bolton?
 
grandmaster_gaz said:
I see.. Reason I ask is a Tim was claiming the circumstances aren't the same as ours cos we were liquidated
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He falls at the first hurdle then because our oldco hasn't been liquidated. It is 'In Liquidation' still. Presumably the Bolton oldco will, in time, move from 'In Administration' (where it currently sits) to 'In Liquidation' as well. Given the assets have been transferred there is no reason for it not to although, theoretically, I suppose they could shift the assets back again (as we discussed for Rangers at the time).

I'm kinda holding my fire on that one as well though - just until it is confirmed with certainty that the oldco has moved into liquidation.
 
Valley Bluenose said:
He falls at the first hurdle then because our oldco hasn't been liquidated. It is 'In Liquidation' still. Presumably the Bolton oldco will, in time, move from 'In Administration' (where it currently sits) to 'In Liquidation' as well. Given the assets have been transferred there is no reason for it not to although, theoretically, I suppose they could shift the assets back again (as we discussed for Rangers at the time).

I'm kinda holding my fire on that one as well though - just until it is confirmed with certainty that the oldco has moved into liquidation.
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Administrators proposals doc on Companies House site (linked to in the OP I think...) explain the Oldco is to be handed to the liquidators in due course. Just as in our case in October 2012.
 
It will be fascinating to see how this is reported in England compared to how exactly the same was reported and received in Scotland.

I await some plastic wanna oirish “person” showing me how because it was a scottish court if session its a different thing.
 
A wider point regarding this comparison, is that bears shouldn't hold back in pulling up other bears, or anyone for that matter, who go along with this liquidation/ "came back from being liquidated" narrative.

It is a creation of media spin and misreporting, totally inconsistent with how other clubs who've gone through a similar process are reported. Bolton just the latest example.
 
Tommyhlrsc said:
No demotion?,
No fine well above the league rules?,
No confiscation of prize money?
No confiscation of transfer monies?,
No confirms with RIP in media?
No radio shows allowing rivals to gloat?,
No pure out and out hatred from league chairmen?,
No failure of the English FA and EFL towards one of its oldest member clubs?

Funny that, but in Scotland it's The Rangers FC and its supporters who are made to be the bad yins?

Scotlands most successful football team was floundering because of charlatans and money greedy vultures but near the whole of non Rangers supporters, league club chairmen, print, radio and Tv media,football pundits and majority of politicians danced with glee?

Scotlands shame at the time!
Click to expand...


The difference is summed up as Hatred and Jealously.
 
we are ,always were and always will be Rangers , the diseased minds of the wrong uns will never change that .
 
GarlicBreadco FC
VacantWindingEyelashpitviper-size_restricted.gif
 
mccoist__355 said:
A wider point regarding this comparison, is that bears shouldn't hold back in pulling up other bears, or anyone for that matter, who go along with this liquidation/ "came back from being liquidated" narrative.

It is a creation of media spin and misreporting, totally inconsistent with how other clubs who've gone through a similar process are reported. Bolton just the latest example.
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David Edgar on daily update yesterday. Rangers are "an organisation that has had a liquidation event".

Find me a single Bolton Wanderers fan - same with Leeds, Bournemouth, Coventry examples - who will look back at the events of 2019 and say their club went through a "liquidation event".

With bears - intelligent, staunch bears - you hear it quite often. Thank you scottish media.
 
Tommyhlrsc said:
No demotion?,
No fine well above the league rules?,
No confiscation of prize money?
No confiscation of transfer monies?,
No confirms with RIP in media?
No radio shows allowing rivals to gloat?,
No pure out and out hatred from league chairmen?,
No failure of the English FA and EFL towards one of its oldest member clubs?

Funny that, but in Scotland it's The Rangers FC and its supporters who are made to be the bad yins?

Scotlands most successful football team was floundering because of charlatans and money greedy vultures but near the whole of non Rangers supporters, league club chairmen, print, radio and Tv media,football pundits and majority of politicians danced with glee?

Scotlands shame at the time!
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They tried to kill us and they failed.
 
grandmaster_gaz said:
I see.. Reason I ask is a Tim was claiming the circumstances aren't the same as ours cos we were liquidated
Click to expand...

You can't liquidate a football club (though it could cease to function as a football club, which we obviously haven't done). You can liquidate the limited company that operated the football club. Our old company is in liquidation and a new company (newco) operates the football club now.
 
Obviously we could have done the same as Bolton but the governing bodies/other clubs (no doubt influenced by one club in particular) prevented us from transferring the football licence to the new company.

And, as we know, thereafter imposed a ridiculous number of sanctions on us including an unlawful transfer embargo.

Only in this pathetic country would they try and destroy a great and iconic sporting institution.

They failed.
 
watch said:
Obviously we could have done the same as Bolton but the governing bodies/other clubs (no doubt influenced by one club in particular) prevented us from transferring the football licence to the new company.

And, as we know, thereafter imposed a ridiculous number of sanctions on us including an unlawful transfer embargo.

Only in this pathetic country would they try and destroy a great and iconic sporting institution.

They failed.
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Just to spell things out, the vote which went against us was about control of what was called the SPL 'share'. We then went into a different league, the SFL. Separately, control of the SFA membership was transferred to the new company, so we have the same SFA membership we've always had.
 
JayDee said:
You can't liquidate a football club (though it could cease to function as a football club, which we obviously haven't done). You can liquidate the limited company that operated the football club. Our old company is in liquidation and a new company (newco) operates the football club now.
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You can't separate a football club from it's legal entity, despite the clear distinction. If X company operating an FC enters liquidation, so does the FC.

In our case, we didn't. In October 2012 we were 3 months into a new season. Others have though and I wouldn't be shy with using the term in those examples.
 
mccoist__355 said:
You can't separate a football club from it's legal entity, despite the clear distinction. If X company operating an FC enters liquidation, so does the FC.

In our case, we didn't. In October 2012 we were 3 months into a new season. Others have though and I wouldn't be shy with using the term in those examples.
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Well that is not the view of several judges including Lionel Persier in the latest trial with SDI. The view was endorsed by Nimmo and 2 QCs (one an expert in corporate Law), 2 sets of liquidators who have legal reps, HMRC who are legally competent in corporate law and finally the Supreme Court. The language is consistent and references the club distinctively from the company. You can of course chose to believe BBC journalists who hate Rangers and the usual assortment of bigoted bloggers.
 
mccoist__355 said:
You can't separate a football club from it's legal entity, despite the clear distinction. If X company operating an FC enters liquidation, so does the FC.

In our case, we didn't. In October 2012 we were 3 months into a new season. Others have though and I wouldn't be shy with using the term in those examples.
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You cannot liquidate the football club itself. You can liquidate a limited company. If you liquidate the operating company and the football club goes too, so be it. As you say, our football club didn't cease. From what I've read here, Bolton seem to be doing something fairly similar to us in that their football club will be operated by a new company.
 
RfcIbrox said:
Well that is not the view of several judges including Lionel Persier in the latest trial with SDI. The view was endorsed by Nimmo and 2 QCs (one an expert in corporate Law), 2 sets of liquidators who have legal reps, HMRC who are legally competent in corporate law and finally the Supreme Court. The language is consistent and references the club distinctively from the company. You can of course chose to believe BBC journalists who hate Rangers and the usual assortment of bigoted bloggers.
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I actually said there was "a clear distinction" between the club and company! Just meant - up to the point at which a sale or transfer to a different company/legal form takes place - the company is an aspect of the football club.

If you take the separation point too far, you go down the road of saying the club doesn't pay tax, the club doesn't pay wages, the club doesn't own the stadium etc. The company is part of the football club as long the former "owns and operates", as the SPFL rulebook says, the latter.
 
mccoist__355 said:
I actually said there was "a clear distinction" between the club and company! Just meant - up to the point at which a sale or transfer to a different company/legal form takes place - the company is an aspect of the football club.

If you take the separation point too far, you go down the road of saying the club doesn't pay tax, the club doesn't pay wages, the club doesn't own the stadium etc. The company is part of the football club as long the former "owns and operates", as the SPFL rulebook says, the latter.
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Ah yes I see your point. Thanks for the further clarification. Although I think Celtic for example have actually split their ‘club assets’ over 3 separate companies. Happy also to be corrected in that.

The key thing Rangers did (and tin hat on you have to give Green some credit, although he was motivated by greed and personal interest) was that he successfully transferred SFA membership and assets to another company before the old company was liquidated (in fact it is still going through the process and there is even a technical process to reverse that if King chose to).
 
I'm sure the BBC will show the League One table with Bolton Wanderers 2019 included or is it only BBC Scotland who resort to this behaviour?
 
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