To good to be true if this comes to Fruition?

[californiadreamin52 339]

RANGERS’ administrators want to force Craig Whyte to hand back his shares for free.

Duff and Phelps fear they won’t find a buyer unless the shamed owner severs all ties with the club.

They will urge him to deliver on his promise to act in Rangers’ best interests by walking away for good.

The Record understands that administrators believe Whyte has no power to break up the club’s assets and keep Ibrox, Murray Park and the Albion Car Park for himself.

They are convinced he has not invested a penny of his own cash, aside from the £1 he used to secure Sir David Murray’s majority shareholding.

And they believe the ­Ticketus deal – from which Whyte raised £24.4million against future season ticket sales to wipe out an overdraft with Lloyds Banking Group – can be declared legally null and void.

That would blow away any hold Whyte has over the club because he used the Ticketus money to fund his takeover.

Duff and Phelps are ­determined to make him give in as quickly as possible to help them smooth the way for a new takeover.

Whyte plunged Rangers into crisis when he failed to pay around £15million in PAYE tax and VAT.

Former director Paul Murray and his Blue Knights ­consortium are believed to be in pole position to rescue the club and have been locked in talks with Duff and Phelps.

But a takeover could be made a great deal more costly if the accountants carry through with their proposals to shed 11 players.

That would add millions to the cost of rebuilding the squad and making Rangers strong enough to compete.

Former Rangers manager Walter Smith warned Whyte a year ago that around £25million would have to be spent on the squad before the start of this season.

He believed that would be vital to give his successor Ally McCoist a realistic chance of beating Celtic to win a fourth successive SPL title and making an impact in Europe.

But Whyte failed to come up with the goods and shedding players would leave Rangers in an even weaker position.

It is likely that Murray, or any other buyer, would prefer to cover the cost of wage ­deferrals and keep the current squad together than finance the rebuilding which will be necessary if numbers are further reduced.

Yesterday, Duff and Phelps secured a court order to seize £3.6million from Whyte’s lawyers.

Money from the Ticketus, deal was transferred to law firm Collyer Bristow before Whyte’s takeover.

Duff and Phelps have confirmed that, apart from the £18million used to pay off Lloyds, they could not find the rest of money.

Co-administrator Paul Clark said they believed it to be held in a lawyer’s account related to Rangers’ parent company.

Collyer Bristow handled the finances during the purchase of Sir David Murray’s shares.

It also emerged yesterday that Collyer Bristow could face bankruptcy if a ruling forces them to pay out millions of pounds.

They face an action at the High Court in London brought by 500 investors in an alleged sham investment scheme.

http://www.<No links to this website>/2012/03/03/rangers-in-crisis-administrators-want-craig-whyte-to-give-up-shares-for-free-86908-23772926/

[NorthernLights 2,526]

Unless there was anything in the contract saying "you have to sort this out" then I fear we are fighting a losing battle.

[GOAT 30,449]

If this is true, now is the time for fan the 51% ownership scheme to come into force and give Paul Murray and his mates the other 49% to invest if it's what they want.

[MCLACHLAN1 49]

Craig Whyte has pretty much failed on every single promise he has made and has told lie after lie since getting ownership.

Surely there must be some repercussions to breaking promises that he made?

[Chef 436]

Yet some still wanna portray them as dodgy and in on this, bheggars belief

[Johnstone Burgh 1,658]

Whytes fanboys won't like this

[caseyjones 3,009]

If this is true, now is the time for fan the 51% ownership scheme to come into force and give Paul Murray and his mates the other 49% to invest if it's what they want.

There are supposedly six interested parties with Paul Murray's group being one of them. Until such time that any details are given about any group, there's nowt that can be done.

[theySTILLKNOW 80]

I don't know if it's possible,but I would love to see every season ticket holder in a joint action take whyte to court for the £18 million.

He was meant to pay Lloyds with his own money,the fans money was to see us through the season,same as every other year.

[Eastcoast Al 1]

It could lead to long running legal battles and appeals that leave us no further forward until they are settled if this is turns out be be true.

[outlaw69uk 123]

If this is true, now is the time for fan the 51% ownership scheme to come into force and give Paul Murray and his mates the other 49% to invest if it's what they want.

Murray should be nowhere near us, he was part of the original problem. The only name that has been mentioned that is bearable at the moment for me is Kennedy. I want a fresh start.

I disagree with fan ownership, especially ours at the moment, but, I do think that better interaction and input from fans would be better.

Something that bugs me, is, we have three "main" fan groups?? Anyone thats watched Airheads also remembers the line " How can you pluralise the Lone Ranger??" which is what we have. We should have a Fan Group, simple as that, representing all fans, and, it "should" be the trust, as per most other clubs in the land, but, the current one doesnt cut the mustard. If we could reform that, with (as an example) the likes of a figurehead chair, such as a Gough type, then, have the "board" made up of say, 2 admin from all the forums, and, heads of RSCs, that would be a trust that genuinely represented the support, and, one everyone could get behind. I think

[GeneralCartmanLee 313]

Murray should be nowhere near us, he was part of the original problem. The only name that has been mentioned that is bearable at the moment for me is Kennedy. I want a fresh start.

I disagree with fan ownership, especially ours at the moment, but, I do think that better interaction and input from fans would be better.

Something that bugs me, is, we have three "main" fan groups?? Anyone thats watched Airheads also remembers the line " How can you pluralise the Lone Ranger??" which is what we have. We should have a Fan Group, simple as that, representing all fans, and, it "should" be the trust, as per most other clubs in the land, but, the current one doesnt cut the mustard. If we could reform that, with (as an example) the likes of a figurehead chair, such as a Gough type, then, have the "board" made up of say, 2 admin from all the forums, and, heads of RSCs, that would be a trust that genuinely represented the support, and, one everyone could get behind. I think

When will you guys learn that your wee groups don't actually matter in all this.....

[mafia32 93]

When will you guys learn that your wee groups don't actually matter in all this.....

All that matters is that the club survives!!

[GeneralCartmanLee 313]

All that matters is that the club survives!!

Indeed mate

[Edmiston Drive 3,846]

Craig Whyte has pretty much failed on every single promise he has made and has told lie after lie since getting ownership.

Surely there must be some repercussions to breaking promises that he made?

Yes he will go to the bad fire.

[mafia32 93]

All these supporters groups mean nothing to me, all that matters is the club i have supported since i was old enough to make the choice

[outlaw69uk 123]

When will you guys learn that your wee groups don't actually matter in all this.....

Thought I would stop ignoring you to see if you had gone and got an education, apparently not.

This may be the most ignorant, idiotic pathetic post I have seen from you. Quite clearly you lost the ability to READ as well.

The OP is regarding fan ownership, I QUITE CLEARLY SAID we DONT NEED MULTIPLE GROUPS WE NEED ONE

So, completely irrelevant, pointless, off topic post by you. well done. Muppet

[GeneralCartmanLee 313]

Thought I would stop ignoring you to see if you had gone and got an education, apparently not.

This may be the most ignorant, idiotic pathetic post I have seen from you. Quite clearly you lost the ability to READ as well.

The OP is regarding fan ownership, I QUITE CLEARLY SAID we DONT NEED MULTIPLE GROUPS WE NEED ONE

So, completely irrelevant, pointless, off topic post by you. well done. Muppet

Good to see you doing a complete 180 and agreeing with me then .....let's hope it continues and you don't need to ignore me again after losing an argument

[FUDGIE52 9]

Yes he will go to the bad fire.

And have pineapples stuffed up his arse for all enternity.

[outlaw69uk 123]

All these supporters groups mean nothing to me, all that matters is the club i have supported since i was old enough to make the choice

Why should we have multiple groups? Have you seen the Man Utd Supporters Trust? Hundreds of thousands of members, legit. Thats all we need, ONE, representing the support. People can go on about fan ownership, but, while there is an Assembley, and RST, an RSA, it wont happen. One combined entity, under one name, gives people a shot at effecting change, lots of little ones dont matter and wont achieve anything. Simple fact.

[Bakbear 3,586]

Am I the only one who doesn't see how any resolution can be reached before the "big tax case" is settled?

Craig Whyte did not go down this road for shits and giggles, he went down this road because had we lost the BTC then he would have been personally screwed and Rangers would have been generally screwed.

The latter still applies,

Why would anyone in their right mind rescue the club at this stage without knowing the outcome of the potential 75 MILLION POUND liability that has been hanging over us for the last 2 years or so????

By all means lets do everything we can to keep the club afloat until the BTC has been settled but there is absolutely no point in coming out of administration only to allow HMRC to be the preferred creditor should it go against us???? Or am I missing something?

CW is a despicable human being that took an insane gamble with the history of our club and got it badly wrong and I despise what he has done to our club but now that we have got here, we are completely at the mercy of the resolution of the BTC

[outlaw69uk 123]

Good to see you doing a complete 180 and agreeing with me then .....let's hope it continues and you don't need to ignore me again after losing an argument

Sorry to burst your little bubble, but, in your eyes, everyone loses an argument with you, but, I tend to prefer debate, which is why someone like Bluepeter9, whos opinions I disagree with almost wholeheartedly, and I can still have a decent debate and find some common ground at times. Unlike you, he actually has a belief system, and a point. You simply post inane, pointless snide remarks that have no meaning or substance, such as the one that you posted here that got the initial reply. As I said, clearly you hadnt read it, and, simply saw my name and thought you would post a snide remark, which, as always, was about a million miles wide of the mark.

Would be delighted to know which ficticious argument I lost, definately of interest. I "ignored" you, because you generally have nothing to add, and, detract from all conversations by going off topic with your snideness. As an example, you still havent addressed the points raised in this one. You are as bad as Deedle, who is also massively tiresome and uses the same validation method as you, which is, "because i said so"

[outlaw69uk 123]

Am I the only one who doesn't see how any resolution can be reached before the "big tax case" is settled?

Craig Whyte did not go down this road for shits and giggles, he went down this road because had we lost the BTC then he would have been personally screwed and Rangers would have been generally screwed.

The latter still applies,

Why would anyone in their right mind rescue the club at this stage without knowing the outcome of the potential 75 MILLION POUND liability that has been hanging over us for the last 2 years or so????

By all means lets do everything we can to keep the club afloat until the BTC has been settled but there is absolutely no point in coming out of administration only to allow HMRC to be the preferred creditor should it go against us???? Or am I missing something?

CW is a despicable human being that took an insane gamble with the history of our club and got it badly wrong and I despise what he has done to our club but now that we have got here, we are completely at the mercy of the resolution of the BTC

A resolution can be reached mate, its a case of the HMRC and the administrators agreeing a "rate" to payback, which will apply when the outcome is known. As an example, they agree to settle at 10p in the pound. £50 million judgement for HMRC means we would agree to payback £5 million. (just an example, I have no idea what it would be). When we get to that stage, the way forward will be clearer.

[GeneralCartmanLee 313]

Yet you seem to want to get in argument with me now.....

Maybe you should do walking away (again)

[gunslinger 270]

RANGERS’ administrators want to force Craig Whyte to hand back his shares for free.

Duff and Phelps fear they won’t find a buyer unless the shamed owner severs all ties with the club.

They will urge him to deliver on his promise to act in Rangers’ best interests by walking away for good.

The Record understands that administrators believe Whyte has no power to break up the club’s assets and keep Ibrox, Murray Park and the Albion Car Park for himself.

They are convinced he has not invested a penny of his own cash, aside from the £1 he used to secure Sir David Murray’s majority shareholding.

And they believe the ­Ticketus deal – from which Whyte raised £24.4million against future season ticket sales to wipe out an overdraft with Lloyds Banking Group – can be declared legally null and void.

That would blow away any hold Whyte has over the club because he used the Ticketus money to fund his takeover.

Duff and Phelps are ­determined to make him give in as quickly as possible to help them smooth the way for a new takeover.

Whyte plunged Rangers into crisis when he failed to pay around £15million in PAYE tax and VAT.

Former director Paul Murray and his Blue Knights ­consortium are believed to be in pole position to rescue the club and have been locked in talks with Duff and Phelps.

But a takeover could be made a great deal more costly if the accountants carry through with their proposals to shed 11 players.

That would add millions to the cost of rebuilding the squad and making Rangers strong enough to compete.

Former Rangers manager Walter Smith warned Whyte a year ago that around £25million would have to be spent on the squad before the start of this season.

He believed that would be vital to give his successor Ally McCoist a realistic chance of beating Celtic to win a fourth successive SPL title and making an impact in Europe.

But Whyte failed to come up with the goods and shedding players would leave Rangers in an even weaker position.

It is likely that Murray, or any other buyer, would prefer to cover the cost of wage ­deferrals and keep the current squad together than finance the rebuilding which will be necessary if numbers are further reduced.

Yesterday, Duff and Phelps secured a court order to seize £3.6million from Whyte’s lawyers.

Money from the Ticketus, deal was transferred to law firm Collyer Bristow before Whyte’s takeover.

Duff and Phelps have confirmed that, apart from the £18million used to pay off Lloyds, they could not find the rest of money.

Co-administrator Paul Clark said they believed it to be held in a lawyer’s account related to Rangers’ parent company.

Collyer Bristow handled the finances during the purchase of Sir David Murray’s shares.

It also emerged yesterday that Collyer Bristow could face bankruptcy if a ruling forces them to pay out millions of pounds.

They face an action at the High Court in London brought by 500 investors in an alleged sham investment scheme.

http://www.<No links to this website>/2012/03/03/rangers-in-crisis-administrators-want-craig-whyte-to-give-up-shares-for-free-86908-23772926/

the answer is it depends if the source is the blue knights or the administrators.

[bearsinbath 95]

RANGERS’ administrators want to force Craig Whyte to hand back his shares for free.

Duff and Phelps fear they won’t find a buyer unless the shamed owner severs all ties with the club.

They will urge him to deliver on his promise to act in Rangers’ best interests by walking away for good.

The Record understands that administrators believe Whyte has no power to break up the club’s assets and keep Ibrox, Murray Park and the Albion Car Park for himself.

They are convinced he has not invested a penny of his own cash, aside from the £1 he used to secure Sir David Murray’s majority shareholding.

And they believe the ­Ticketus deal – from which Whyte raised £24.4million against future season ticket sales to wipe out an overdraft with Lloyds Banking Group – can be declared legally null and void.

That would blow away any hold Whyte has over the club because he used the Ticketus money to fund his takeover.

Duff and Phelps are ­determined to make him give in as quickly as possible to help them smooth the way for a new takeover.

Whyte plunged Rangers into crisis when he failed to pay around £15million in PAYE tax and VAT.

Former director Paul Murray and his Blue Knights ­;consortium are believed to be in pole position to rescue the club and have been locked in talks with Duff and Phelps.

But a takeover could be made a great deal more costly if the accountants carry through with their proposals to shed 11 players.

That would add millions to the cost of rebuilding the squad and making Rangers strong enough to compete.

Former Rangers manager Walter Smith warned Whyte a year ago that around £25million would have to be spent on the squad before the start of this season.

He believed that would be vital to give his successor Ally McCoist a realistic chance of beating Celtic to win a fourth successive SPL title and making an impact in Europe.

But Whyte failed to come up with the goods and shedding players would leave Rangers in an even weaker position.

It is likely that Murray, or any other buyer, would prefer to cover the cost of wage ­deferrals and keep the current squad together than finance the rebuilding which will be necessary if numbers are further reduced.

Yesterday, Duff and Phelps secured a court order to seize £3.6million from Whyte’s lawyers.

Money from the Ticketus, deal was transferred to law firm Collyer Bristow before Whyte’s takeover.

Duff and Phelps have confirmed that, apart from the £18million used to pay off Lloyds, they could not find the rest of money.

Co-administrator Paul Clark said they believed it to be held in a lawyer’s account related to Rangers’ parent company.

Collyer Bristow handled the finances during the purchase of Sir David Murray’s shares.

It also emerged yesterday that Collyer Bristow could face bankruptcy if a ruling forces them to pay out millions of pounds.

They face an action at the High Court in London brought by 500 investors in an alleged sham investment scheme.

http://www.<No links to this website>/2012/03/03/rangers-in-crisis-administrators-want-craig-whyte-to-give-up-shares-for-free-86908-23772926/

Whats this ­ stuff?