Jump to content

Welcome to RangersMedia!

Sign In or Register to gain full access to our forums. By registering with us, you'll be able to discuss, share and private message with other members of our community.


What's green upto now?


  • Please log in to reply
39 replies to this topic

#1 blanco79

blanco79

    Jorg Albertz

  • Loyal Bluenose
  • PipPipPipPipPip
  • 163 posts
  • Gender:Male
  • Location:glasgow

Posted 27 June 2012 - 02:36 PM

assets sold again


Rangers crisis: Ibrox and Murray Park hived off to 'separate' newco
By Mike Farrell 27 June 2012 16:06 BST

Rangers: Deeds to Ibrox and Murray Park will be held by Sevco Scotland Limited.© HEMEDIA / SWNS Group












Rangersí takeover consortium has hived off Ibrox and Murray Park to a separate new company.

Sevco Scotland Limited has applied to the Registers of Scotland for the title deeds for the stadium and the training ground Murray Park, as well as the Albion car park, to be disposed to it.

The company, whose sole director is Charles Green, is separate from the 'newco' that was due to receive the clubís assets as previously identified by administrators Duff and Phelps.

According to proposals sent out to creditors owed £124m by the club, the new business entity that would hold the assets of the club was Sevco 5088 Limited, established by London law firm Field Fisher Waterhouse, which is advising Mr Greenís consortium on the takeover.

Sevco Scotland Limited, which was incorporated on May 29, made applications to transfer the title deeds of the property on June 15, the day after Mr Green held a media conference at Ibrox with the consortiumís 'financial adviser', Imran Ahmad, where he announced the purchase of the clubís assets had gone ahead.

The asset sale to a newco came after the proposed company voluntary arrangement (CVA) offer to creditors, funded by an £8.5m loan from Sevco, was rejected by HM Revenue and Customs (HMRC).

According to the title deeds lodge with the Registry of Scotland, the floating charge transferred to previous owner Craig Whyte is still outstanding over the Murray Park training ground in Auchenhowie Road, Milngavie. The standard security to the Scottish Sports Council over the facility, created in 2002, is also still active according to the registry.

Under the purchase of the clubís assets outlined by Duff and Phelps, Greenís consortium wear to put £5.5m into Rangers FC plc, before the property and other assets were transferred to the newco, Sevco 5088.

The relationship between the two Sevco companies is currently unclear, while Mr Green is also listed as the sole director of another business entity called RFC 2012 Limited, which was incorporated last Thursday, June 21.
advertisement


Edited by blanco79, 27 June 2012 - 02:37 PM.


#2 Number12

Number12

    David Cooper Templeton

  • Banned
  • PipPipPip
  • 30 posts
  • Gender:Male
  • Location:Govan

Posted 27 June 2012 - 02:38 PM

No idea.  :angry:

#3 gerbilly

gerbilly

    Stuart McCall

  • Loyal Bluenose
  • PipPipPipPipPipPipPip
  • 202 posts
  • Gender:Male
  • Location:Hamilton

Posted 27 June 2012 - 02:39 PM

like whyte making money out of our troubles.

#4 JimmyCR1

JimmyCR1

    MRC-Row J-Seat 84

  • True Blue
  • 7,712 posts
  • Gender:Male
  • Location:Glasgow

Posted 27 June 2012 - 02:39 PM

If he's doing these things we should know about it

#5 CoatbridgeBear

CoatbridgeBear

    Richard Gough

  • True Blue
  • 2,884 posts
  • Gender:Male
  • Location:Coatbridge

Posted 27 June 2012 - 02:40 PM

Sick of story after fucking story!

#6 Mr Brightside

Mr Brightside

    Rejoice!! The shifties are back

  • True Blue
  • 24,603 posts
  • Gender:Male
  • Location:Oblivion

Posted 27 June 2012 - 02:40 PM

I've no idea either but the financial and business experts who inhabit Twitter will put us right soon

#7 gerbilly

gerbilly

    Stuart McCall

  • Loyal Bluenose
  • PipPipPipPipPipPipPip
  • 202 posts
  • Gender:Male
  • Location:Hamilton

Posted 27 June 2012 - 02:42 PM

View Postswally, on 27 June 2012 - 02:40 PM, said:

I've no idea either but the financial and business experts who inhabit Twitter will put us right soon


still supporting green?

#8 The Godfather

The Godfather

    Scotland Has Spoken...Rule Britannia

  • True Blue
  • 44,651 posts
  • Gender:Male
  • Location:Glasgow

Posted 27 June 2012 - 02:42 PM

Boss was on the case earlier with the RFC 2012 Limited thing, hopefully he has done more digging.

#9 trueblueal

trueblueal

    Laudrups lovechild

  • True Blue
  • 1,596 posts
  • Gender:Male
  • Location:North Lanarkshire

Posted 27 June 2012 - 02:43 PM

Why would Green move the assets? Is he about to put Sevco into admin?

#10 KAT_1690

KAT_1690

    Moses McNeil

  • Banned
  • Pip
  • 8 posts
  • Gender:Male
  • Location:Easterhouse

Posted 27 June 2012 - 02:43 PM

This does not look good at all. I started a thread earlier but it seems to be stuck in moderation, I guess because I am new to the forum,but for the love of God get this man out of our club.  

I reiterate that we need to start from the bottom and work back to being great because we are as things stand fucked.

#11 The Godfather

The Godfather

    Scotland Has Spoken...Rule Britannia

  • True Blue
  • 44,651 posts
  • Gender:Male
  • Location:Glasgow

Posted 27 June 2012 - 02:44 PM

View Posttrueblueal, on 27 June 2012 - 02:43 PM, said:

Why would Green move the assets? Is he about to put Sevco into admin?
If there is no money coming in then that would be the case would it not?

#12 Thermopylae

Thermopylae

    Bill Struth

  • True Blue
  • 67,008 posts
  • Gender:Male
  • Location:Glasgow

Posted 27 June 2012 - 02:45 PM

TBH if green is thinking of ripping us off I would urge him not to bother because everyone has just about had enough and some day soon someone is going to be very very sorry for crossing us

#13 GLASGOWRFC

GLASGOWRFC

    Andy Goram

  • True Blue
  • 1,603 posts
  • Gender:Male
  • Location:Glasgow

Posted 27 June 2012 - 02:47 PM

View Posttrueblueal, on 27 June 2012 - 02:43 PM, said:

Why would Green move the assets? Is he about to put Sevco into admin?
If you read all of that article it says Green has applied for the deeds to Murray park as Whyte still has a floating charge on it.

#14 robertkay

robertkay

    Ian Durrant

  • True Blue
  • PipPipPipPipPipPipPipPipPip
  • 621 posts
  • Gender:Male
  • Location:Barrmill

Posted 27 June 2012 - 02:48 PM

What I don't understand is, if he is going to sell the assets could he not just do it with the original takeover company (the old newco) as the owner.

Or does he gain more to move it then sell it, or whatever he's doing :(

Surely, knowing that some angry bears are going to be at the door at 7pm, he would issue some kind of statement - unless of course, he doesn't give a shit

#15 trueblueal

trueblueal

    Laudrups lovechild

  • True Blue
  • 1,596 posts
  • Gender:Male
  • Location:North Lanarkshire

Posted 27 June 2012 - 02:48 PM

I read it and didn't understand it. Why would he have to set up a new company to do that?

#16 Mr Brightside

Mr Brightside

    Rejoice!! The shifties are back

  • True Blue
  • 24,603 posts
  • Gender:Male
  • Location:Oblivion

Posted 27 June 2012 - 02:50 PM

View Postgerbilly, on 27 June 2012 - 02:42 PM, said:

still supporting green?


I've never "supported" Green

I've always said the stark choice is between him and Persimmon/Wimpey and that has always been the case until the Bheast put a bid in.

So its now Green, Persimmon/Wimpey or the Bheast? Nobody else has bid, Bomber hasn't produced an alternative and his links to the Bheast are worrying.

Green maybe now looking at the Persimmon/Wimpey option due to the grief and lack of backing he's had.

Which was always going to be the game of brinkmanship his detractors were playing.

These are facts - not twitter rumours.

#17 gerbilly

gerbilly

    Stuart McCall

  • Loyal Bluenose
  • PipPipPipPipPipPipPip
  • 202 posts
  • Gender:Male
  • Location:Hamilton

Posted 27 June 2012 - 02:51 PM

View Postswally, on 27 June 2012 - 02:50 PM, said:

I've never "supported" Green

I've always said the stark choice is between him and Persimmon/Wimpey and that has always been the case until the Bheast put a bid in.

So its now Green, Persimmon/Wimpey or the Bheast? Nobody else has bid, Bomber hasn't produced an alternative and his links to the Bheast are worrying.

Green maybe now looking at the Persimmon/Wimpey option due to the grief and lack of backing he's had.

Which was always going to be the game of brinkmanship his detractors were playing.

These are facts - not twitter rumours.


keep living in denial.

#18 The Godfather

The Godfather

    Scotland Has Spoken...Rule Britannia

  • True Blue
  • 44,651 posts
  • Gender:Male
  • Location:Glasgow

Posted 27 June 2012 - 02:52 PM

View Postgerbilly, on 27 June 2012 - 02:51 PM, said:

keep living in denial.
Stop trying to point score ffs.

He like the rest of us is worried about the club, itís not a popularity contest.

#19 Mr Brightside

Mr Brightside

    Rejoice!! The shifties are back

  • True Blue
  • 24,603 posts
  • Gender:Male
  • Location:Oblivion

Posted 27 June 2012 - 02:52 PM

View Postgerbilly, on 27 June 2012 - 02:51 PM, said:

keep living in denial.

I look forward to one post where you can show me 'supporting Green'


tic toc

#20 blanco79

blanco79

    Jorg Albertz

  • Loyal Bluenose
  • PipPipPipPipPip
  • 163 posts
  • Gender:Male
  • Location:glasgow

Posted 27 June 2012 - 02:54 PM

View Posttrueblueal, on 27 June 2012 - 02:48 PM, said:

I read it and didn't understand it. Why would he have to set up a new company to do that?


Maybe he's planning to sell the club and keep all the assets to himself and rent them back for say £2-£3m per season.
It's not beyond the realms of fantasy and he saves himself the hassle of running a football club at the same time.