Administration thread

[novosleftboot 6,285]

Govou?

Finally?

[The Godfather 72,006]

South of France eh...

GET TO THA CHOPPA!!

[rupert thebear 7]

My head hurts now, thinking about all the possible scenarios.

But, assuming Whyte cant get the creditors to agree to a CVA.

The "phoenix" club approach is next, cant see the SFA agreeing he is a fit and proper person to run a club. So it will be someone else.

I think it is cheerio time for Whyte

[j1mgg 3,766]

Any actual news?

[TravelingWilBEARy 4,319]

This isn't very good.

[MrT 173]

I think we need to pin this topic as its going to be a 1000 pager lol.

[MikeBlue 136]

Not necessarily, re Airdrie United taking Clydebanks place.

But there is no guarantee we'd be accepted back into the league system.

Correct, but at this stage of the season with 2 Old Firm games to go the SPL will be under massive pressure to accept a new company. Remember the TV contract guarantees 4 OF games a season, they would be in breach and would have to pay the money back.

[TheLawMan 6,240]

Correct, but at this stage of the season with 2 Old Firm games to go the SPL will be under massive pressure to accept a new company. Remember the TV contract guarantees 4 OF games a season, they would be in breach and would have to pay the money back.

Im not 100% sure but i think the new contract doesnt start to August.

[PaulRFC1 115]

The fact he has left the country is worrying.

Who knows why tho and ill save judgement until we find out more.

[blueballss 2,971]

all the strees the man is under does anyone think it unreasonable he takes a holiday?

[caseyjones 3,009]

(a) if the Club has not suffered an insolvency event within 90 days of the Club's appeal in relation to the tax claim brought against the Club by HM Revenue & Customs (the "Tax Case") being finally determined, then The Rangers FC Group will either waive the debt that it has acquired or convert it into equity by way of an issue of new voting ordinary shares in the Club. The acquisition of the debt by The Rangers FC Group is described further at paragraph 2 below. However, The Rangers FC Group has separately undertaken to the Club that it will waive the debt that it has acquired and not exercise its option to convert it into equity as provided for in the Agreement

If we are in and out of administration before the result of the tax case is known, would we then need to have another 'insolvency event' to prevent this clause from kicking in?

[The Godfather 72,006]

all the strees the man is under does anyone think it unreasonable he takes a holiday?

If my name and face was plastered over the national rags with CHEAT, LIAR ect then maybe I'd catch a easyjet out of here.

[Misteral 2,932]

On Talksport they are saying the preferred creditors rule doesn't apply in Scottish football. Not sure if they mean the players or HMRC or what though.

[WeirFleckNRothen 1,789]

I'm absolutely devastated, but some how optimistic. That might be because I have no other alternative to hope.

I don't want to blame Craig Whyte and I hope that moving into administration is a tactical move, but I'm basing that on the little understanding that I have of a very complicated situation.

Right now, we are not on our knees. We are flat-out on our arses. We have been on our knees for three years or so and against all odds, a squad stripped-of-assets has delivered three-in-a-row. Now, on our arses, I expect the same effort and dedication. I understand and accept that a drop in success is inevitable, I'll accept that for one, five or ten years, however long it takes, for the benefit of this club.

We will be back. That, I guarentee. And when we are, despite Celtic Football Club being at the very bottom of our priorities, the conduct of their chief executive and the inappropriate attitude of their fans will be remembered. Through the emotion, pain and devastation, I will never forget Peter Lawell's words as we fell; "We don't need Rangers". I cannot fucking wait for our rise.

We are the people.

[BlueThunder 8,454]

If we are in and out of administration before the result of the tax case is known, would we then need to have another 'insolvency event' to prevent this clause from kicking in?

90 days either way or just after? That is a large chunk of time, and given we are already in admin I think the debt will not be waived.

I'm unsure what the debt referred to here is though. Is it referring to the original £18m bank debt that was 'paid off'? IE If we are not in admin/insolvent within 90 days of the tax case result then Craig Whyte assumes the debt otherwise it is Rangers?

[GeneralCartmanLee 313]

On Talksport they are saying the preferred creditors rule doesn't apply in Scottish football. Not sure if they mean the players or HMRC or what though.

Sports presenters are saying this....?

[PeterheadBear 1]

The fact he has left the country is worrying.

Who knows why tho and ill save judgement until we find out more.

I have my doubts that you'd make a judgement if Whyte walked up to you personally and said "Paul, I've totally shafted the club".

[JograBear 1,074]

I have my doubts that you'd make a judgement if Whyte walked up to you personally and said "Paul, I've totally shafted the club".

Grow up.

[PaulRFC1 115]

I have my doubts that you'd make a judgement if Whyte walked up to you personally and said "Paul, I've totally shafted the club".

Ok so what do we know.

Whyte has reportedly left to go to Monaco.

Why is this? nobody knows, so instead of jumping in and screaming he is a conman and a crook I have said I will wait until I find out more while admitting it is worrying.

Why would I make judgement on something which I dont know anything about? the fact he has went to Monaco is worrying like I said but until I know more about it then it would be stupid to make judgement.

Are you an idiot?

[Gillete 1,338]

Is it worthwhile getting loads to actually write to HMRC in London and beg for mercy ?

[Davidrfc1873 12]

Pretty sure his home is in Monaco and were being run by admins so doesn't matter where he is

[PeterheadBear 1]

Ok so what do we know.

Whyte has reportedly left to go to Monaco.

Why is this? nobody knows, so instead of jumping in and screaming he is a conman and a crook I have said I will wait until I find out more while admitting it is worrying.

Why would I make judgement on something which I dont know anything about? the fact he has went to Monaco is worrying like I said but until I know more about it then it would be stupid to make judgement.

Are you an idiot?

I think that any sensible person can evaluate the cumulative effects of Whyte's actions and make a pretty reasonable evaluation of what is going on here.

[Misteral 2,932]

Sports presenters are saying this....?

I'm sure it was but I was in the kitchen at the time and could have missed something. The subject of Rangers will be discussed again about 11.45am Uk time.

[Devlin 222]

Pretty sure his home is in Monaco and were being run by admins so doesn't matter where he is

Aye but don't stop silly facts like this from causing panic and hysteria!

[PaulRFC1 115]

Pretty sure his home is in Monaco and were being run by admins so doesn't matter where he is

That was my first thought.

He is based in Monaco and he is no longer a Chairman, its not as if he is cut off either because the administrator is a friend of his.