Mondraker
Well-Known Member
This is so comical. I remember anytime someone credible appeared, Burt and Ernie produced an American trucker as the preferred bid or an unknown Singaporean...each and every time.
Almost like it's writing itself in front of my face.How's the book coming along
Actually ... this could be quite important imo.
From what I can see, the old entity that is currently still in the process of being liquidated owes about £51m.
IF BDO could successfully win such an amount (£56m+) then ...
the original entity would no longer be in debt
it could be cisted (stopped) from liquidation
it could be bought up by somebody at some value reflecting its historical nature and (probably) goodwill
it could then be brought back into the Rangers fold.
Pretty well finishing the Rangers-haters sevco howls.
Yes, it probably would.But would this expose us to liability for any future legal challenges relating to old co matters?
Yes, it probably would.
But I'm struggling to think of anything that hasn't already been dealt with through the courts already.
If Duff and Duffer had broken up the club and sold it piecemeal, we could if we were lucky be left with no training ground and renting Ibrox the trademarks could have been owned by someone else who would have coined it in. Yes they could have got more money for creditors but there is a good chance we would not have a club to support certainly not one we would recognise. So while BDO might ( doubt it) win this case we should be glad they were not the administrator.
Not sure how it went from No Bias to Mischievous Prosecutions but hopefully time will tell AllRangers given ‘short shrift’ by Nicola Sturgeon due to fears of bias, court hears
The First Minister didn’t want the Scottish Government to intervene when the club was placed in administration it has been claimed
Rangers F.C
Nicola Sturgeon gave “short shrift" to a plea from financial experts to help Rangers during attempts to secure the club’s financial future, a court has heard.
David Whitehouse, 55, told the Court of Session today the First Minister didn’t want the Scottish Governmen t to intervene when the club was placed in administration in 2012.
The former administrator told lawyer Kenny McBrearty QC he and his colleagues approached Ms Sturgeon, before she became First Minister of Scotland.
He said Ms Sturgeon ruled out giving help to Rangers because of concerns about bias.
Mr Whitehouse said: “We got short shrift when we approached her. She said ‘we can’t be seen to be biased.’”
The managing director of financial services firm, Duff and Phelps, gave evidence for the second day at the court.
Rangers given ‘short shrift’ by Nicola Sturgeon due to fears of bias, court hears
The First Minister didn’t want the Scottish Government to intervene when the club was placed in administration it has been claimed
Rangers F.C
Nicola Sturgeon gave “short shrift" to a plea from financial experts to help Rangers during attempts to secure the club’s financial future, a court has heard.
David Whitehouse, 55, told the Court of Session today the First Minister didn’t want the Scottish Governmen t to intervene when the club was placed in administration in 2012.
The former administrator told lawyer Kenny McBrearty QC he and his colleagues approached Ms Sturgeon, before she became First Minister of Scotland.
He said Ms Sturgeon ruled out giving help to Rangers because of concerns about bias.
Mr Whitehouse said: “We got short shrift when we approached her. She said ‘we can’t be seen to be biased.’”
The managing director of financial services firm, Duff and Phelps, gave evidence for the second day at the court.
Actually ... this could be quite important imo.
From what I can see, the old entity that is currently still in the process of being liquidated owes about £51m.
IF BDO could successfully win such an amount (£56m+) then ...
the original entity would no longer be in debt
it could be cisted (stopped) from liquidation
it could be bought up by somebody at some value reflecting its historical nature and (probably) goodwill
it could then be brought back into the Rangers fold.
Pretty well finishing the Rangers-haters sevco howls.
Last I read the HMRC debt alone was at circa £64m - though they were still in the process of trying to negotiate this downwards. Link to last Creditors Report attached.I don’t think the debts owed by oldco are currently as much as £51million.
Even if BDO win £56million, I believe their fees for the liquidation have still to be taken into account.
Dave King spoke before about bringing Oldco & Newco together but I doubt it’ll happen.
Was it not Salmond that was FM at the time? I can’t stand Sturgeon but it wasn’t her it was Salmond I’m sureShe doesn't care about showing bias now does she. ? Anything negative story about Rangers and she throws petrol onto the fire.
Actually ... this could be quite important imo.
From what I can see, the old entity that is currently still in the process of being liquidated owes about £51m.
IF BDO could successfully win such an amount (£56m+) then ...
the original entity would no longer be in debt
it could be cisted (stopped) from liquidation
it could be bought up by somebody at some value reflecting its historical nature and (probably) goodwill
it could then be brought back into the Rangers fold.
Pretty well finishing the Rangers-haters sevco howls.
Yes . But let’s assume though that BDO were appointed would there have been improvements in the liabilities and a cleaner exit via someone who actually loved the club taking ownership at that point ?Looking at it in stark business terms it is hard to dispute the points that BDO is raising. However if they had been appointed and dealt with the administration in the same way that they are now claiming Duff & Phelps should have done, I genuinely dread to think what would have happened to Rangers. What took place after administration was bad, but looking at what BDO is saying they would have done is indeed very scary.
Yes . But let’s assume though that BDO were appointed would there have been improvements in the liabilities and a cleaner exit via someone who actually loved the club taking ownership at that point ?
I feel there were many people watching and waiting and there actions could have been different ?
Its being pedantic but BDO are not saying that's what they would have done had they been Administrators. What they are saying is that, had D & P done that, Creditors would have been better off. The difference may be subtle but its important. BDO are suing D & P stating they could have taken a different line and that would have benefited Creditors more, or even saved the holding company. That is their role in investigating the entry into Liquidation of the holding company. The role of the Administrators is different, with their primary role being to try and keep the company operating as a going concern as their first objective. That's my understanding anyway.From what has come out of the hearing, BDO is claiming that they would have got rid of all of the club's assets on a piecemeal basis. Given that they have made that claim in a court of law it has to be accepted that that is what they would have done. It might be a moot point but if BDO had followed through on that plan we would not have got the club back.
Yet it seems no one will be poor after all of this except you and me the tax payer.The amount of public money squandered on apologising and paying off the crooks, along with the public money sqaundered by HMRC in their pursuit of Rangers must be vastly greater than the inital sum that the club owed surely?
The amount of public money squandered on apologising and paying off the crooks, along with the public money sqaundered by HMRC in their pursuit of Rangers must be vastly greater than the inital sum that the club owed surely?
The claim by Wolffe lessons have been learned is laughable. Only a matter of weeks ago the club took legal action against individuals in the Scottish Govt, and in the media over how irresponsibly they behaved over fake social media videos. In particular accusations made by the then Justice Minister, Humza Yousless, had no thought for the consequences caused to others. When made aware of legal action taken against him the fud went on rant about being right, and no apology was needed. Lessons been learned, Yousless and his mob are too stupid for that.
In my eyes they never achieved a ‘quadruple treble’ there winning goal against us in the league cup final should have been ruled out for the clearest offside you’ll ever see with at least 3 players offside and the Scottish cup 19/20 that they ‘won’ against hearts was a sham because of the ability to buy players before it not to mention the sheer corruption aside and then there is the league title that was handed to them over a zoom call so at best it’s a tainted ‘double treble’.I'd certainly guess so, but the damage inflicted on our club, the fans morale, and the damage to the Rangers brand and reputation rendered us almost completely powerless and left celtc free to getting 8.75 in a row, a quadruple treble and a few humiliating defeats over us.
For a few years they would have considered it public money well spent though ultimately their failure to get 10* in a row now renders it all almost completely meaningless.
In my eyes they never achieved a ‘quadruple treble’ there winning goal against us in the league cup final should have been ruled out for the clearest offside you’ll ever see with at least 3 players offside and the Scottish cup 19/20 that they ‘won’ against hearts was a sham because of the ability to buy players before it not to mention the sheer corruption aside and then there is the league title that was handed to them to over a zoom call so at best it’s a tainted ‘double treble’.
Yeah unfortunately so.I don't disagree but the record books will show different.
CrapRangers given ‘short shrift’ by Nicola Sturgeon due to fears of bias, court hears
The First Minister didn’t want the Scottish Government to intervene when the club was placed in administration it has been claimed
Rangers F.C
Nicola Sturgeon gave “short shrift" to a plea from financial experts to help Rangers during attempts to secure the club’s financial future, a court has heard.
David Whitehouse, 55, told the Court of Session today the First Minister didn’t want the Scottish Governmen t to intervene when the club was placed in administration in 2012.
The former administrator told lawyer Kenny McBrearty QC he and his colleagues approached Ms Sturgeon, before she became First Minister of Scotland.
He said Ms Sturgeon ruled out giving help to Rangers because of concerns about bias.
Mr Whitehouse said: “We got short shrift when we approached her. She said ‘we can’t be seen to be biased.’”
The managing director of financial services firm, Duff and Phelps, gave evidence for the second day at the court.