If Oldco could be rescued...Ashley??

Don’t follow the logic on this one at all.

The Fat C*nts deal is indeed with RIFC (newco). That’s because it’s RIFC that run the Club.

In the unlikely event that the oldco was somehow resurrected and RIFC bought it from the Liquidators it would be absorbed into RIFC but the Club would still be run by RIFC and the deal would still remain with the Fat C*nt.

Unless I’m missing some cunning plan.
 
The problem that has already been mentioned re the oldco is who owns the majority of the shares? Whyte? Green?

We’ve also got the situation where we have a board that have pumped in £10s of millions into RIFC that I doubt they’d be happy just to cast away.

The only logical step assuming there’s no dealings with whyte or big Yorkshire hands would be to merge the oldco and newco, unfortunately that wouldn’t get rid of the fat man.
 
The only way that the oldco can be resurrected is a merger, otherwise we would be booted out of Europe for not being able to meet requirements.

In that case both companies liabilities would need to be met, which includes the Ashley shitshow

If I am incorrect please correct me
 
Oldco have no assets it's a name a shell. These assets were sold to the newco. Now if oldco could be rescued they would be entitled to any compo that would be handed out to the oldco creditors.
 
Valley Bluenose said:
Don’t follow the logic on this one at all.

The Fat C*nts deal is indeed with RIFC (newco). That’s because it’s RIFC that run the Club.

In the unlikely event that the oldco was somehow resurrected and RIFC bought it from the Liquidators it would be absorbed into RIFC but the Club would still be run by RIFC and the deal would still remain with the Fat C*nt.

Unless I’m missing some cunning plan.
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King, as main creditor to the newco, could conceivably buy oldco, pre-pack newco and transfer all assets back. It would shed us of all existing contractual ties.

As has been pointed out on the main thread, however, it would also have some pretty horrendous drawbacks:

Points deduction for administration.
No European football next season regardless of league position
It would rely on the players voluntarily TUPE-ing over (would Alfie, for example, TUPE or take the big pay bump to a better league on a free? we all know the answer to that)


Basically, it could be done but the benefit in getting rid of Ashley would be so far outweighed by the negatives that it is not even close to being something worth more than a single second's thought.
 
Northampton_Loyalist said:
King, as main creditor to the newco, could conceivably buy oldco, pre-pack newco and transfer all assets back. It would shed us of all existing contractual ties.

As has been pointed out on the main thread, however, it would also have some pretty horrendous drawbacks:

Points deduction for administration.
No European football next season regardless of league position
It would rely on the players voluntarily TUPE-ing over (would Alfie, for example, TUPE or take the big pay bump to a better league on a free? we all know the answer to that)


Basically, it could be done but the benefit in getting rid of Ashley would be so far outweighed by the negatives that it is not even close to being something worth more than a single second's thought.
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You are 100% correct here!
 
Northampton_Loyalist said:
King, as main creditor to the newco, could conceivably buy oldco, pre-pack newco and transfer all assets back. It would shed us of all existing contractual ties.

As has been pointed out on the main thread, however, it would also have some pretty horrendous drawbacks:

Points deduction for administration.
No European football next season regardless of league position
It would rely on the players voluntarily TUPE-ing over (would Alfie, for example, TUPE or take the big pay bump to a better league on a free? we all know the answer to that)


Basically, it could be done but the benefit in getting rid of Ashley would be so far outweighed by the negatives that it is not even close to being something worth more than a single second's thought.
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To summarise - it’s no happening.;)
 
i dont think it works like, what would stop Rangers from registering a new holding company and transfering the assets over and leaving the deal behind?
 
The oldco exiting liquidation means nothing. It won't happen anyway but it means nothing.

The new company owns the club now and owns the footballing license, the player registrations and the contracts.

The oldco owns nothing.
 
Northampton_Loyalist said:
King, as main creditor to the newco, could conceivably buy oldco, pre-pack newco and transfer all assets back. It would shed us of all existing contractual ties.

As has been pointed out on the main thread, however, it would also have some pretty horrendous drawbacks:

Points deduction for administration.
No European football next season regardless of league position
It would rely on the players voluntarily TUPE-ing over (would Alfie, for example, TUPE or take the big pay bump to a better league on a free? we all know the answer to that)


Basically, it could be done but the benefit in getting rid of Ashley would be so far outweighed by the negatives that it is not even close to being something worth more than a single second's thought.
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Not true at all mate, it wouldn’t be an administration job.
 
chilebear said:
Not true at all mate, it wouldn’t be an administration job.
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As far as I am aware, in order for him to legitimately wipe out the contracts, the club would need to go into administration and be pre-packed across. If it was simply 'sold' from new to old-co, the contracts would, by legal necessity, have to follow. If this was not the case, there would have been absolutely nothing stopping King simply setting up another company and handing the good bits to the new and leaving the old behind. I would suggest this would have happened a year ago if it were legal. Can you explain why that is wrong please? Always interested in learning!
 
Crispy Bacon said:
This isn’t going to happen people need to stop fantasizing about it.
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Yes I agree it’s a pipe dream think the oldco is coming back and we can just tear up the Ashley contracts and carry on.
What I do want to come of this though is a full public enquiry as to why this happened to us and who has been responsible. There was a concentrated effort to kill us from people in banks, Hmrc and the media and I want to know why and have those responsible to be accountable for the carve up. I’m maybe being paranoid but I can’t shake the thought that a certain ex scum chairman with significant political influence was the main instigator of it all.
 
I know there's a lot of smart cookies on here, and I mean that in a respectful way (I'm hopeless at legal stuff btw) but I hope that King has people who can somehow find a loophole of sorts where this could mean Ashley is out on his blubberly fat arse.
 
Perhaps if it meant starting from scratch again then the colts side could be run by oldco and entered into 3rd division?
 
If oldco is rescued it will be by the newco who will then merge to become one. Won’t let us escape Ashley, I actually am beginning to think we’d have a better chance of getting out of a contract with the Devil than we will from Ashley.
 
Gramps1 said:
One things for sure King will look at every inch of this to see if anything can be done to get shot of the fat lady's front bottom.
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I think King will have knew this from day 1. He is playing the tune and they are all dancing to it. Why would he have floated the idea years ago about going back to oldco
 
If there was such a loophole, and I don't believe there is, then players would be able to rip up their contracts with us if they so wished using the same loophole, leaving us essentially asset-less.

We need to find another way of ditching Ashley and SD.
 
Whitburnbear said:
Presumably his deals would be dead.?? They are with Newco.

This really could be huge, no?
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This financially now is not possible. The oldco will be liquidated. You can take that to the bank. I’ve read the report from BDO. If you exclude HMRC, the oldco currently owes £63m to creditors. If you include the suggested £20m for HMRC, this takes it to £83m.

I repeat, the oldco will be liquidated.
 
Greggy75 said:
I would love for someone to find a loophole that paps him out on his arse
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That's the point so many loopholes appear to be overlooked,the sooner this is done with the better,hopefully with some justice for our Club,he should be owing Rangers money.
 
Northampton_Loyalist said:
100% not happening. Ashley will be expelled, but not by those means.


I have a real hope that we can somehow halt the liquidation and bring oldco back into the fold, perhaps use it as a hospitality vehicle or something, just purely out of sentimentality.
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Do you know who owns oldco now? Or when the settlements are finalised is there an opportunity to buy the company or company name?
 
Crispy Bacon said:
This isn’t going to happen people need to stop fantasizing about it.
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Not having a go at you but why not dream, they keep tellings us we are dead, but the men in charge of Rangers just now, and the real best fan's on earth, the Rangers fan's, saved our magnificent club. Anything is possible even if it's just to noise the rest of the shite right up scotland
 
Valley Bluenose said:
Don’t follow the logic on this one at all.

The Fat C*nts deal is indeed with RIFC (newco). That’s because it’s RIFC that run the Club.

In the unlikely event that the oldco was somehow resurrected and RIFC bought it from the Liquidators it would be absorbed into RIFC but the Club would still be run by RIFC and the deal would still remain with the Fat C*nt.

Unless I’m missing some cunning plan.
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RIFC transfer all assets to Oldco...Newco is then mothballed and ceases trading. Was the thinking!
 
The Ranger said:
Not having a go at you but why not dream, they keep tellings us we are dead, but the men in charge of Rangers just now, and the real best fan's on earth, the Rangers fan's, saved our magnificent club. Anything is possible even if it's just to noise the rest of the shite right up scotland
Click to expand...
Dream all you want, it ain’t happening.
 
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