Sicknote 26 Posted March 23, 2012 Share Posted March 23, 2012 A point of order (I accept this seems minor, but it isn't really). Decisions by the Administrators don't need to be be for the benefit of all the creditors - they need to be for the benefit of the creditors as a whole. There is a big difference. Increasing the creditor debt by £30M will make 'a big difference' to the creditors 'as a whole'. Quote Link to post Share on other sites More sharing options...
Sicknote 26 Posted March 23, 2012 Share Posted March 23, 2012 Financial assistance might provide the knockout blow. Can Ticketus take that risk, or will they deal?And liquidation will not give them a better return. No chance.No chance? You sound very sure. If a potential new owner is only bringing £10M for the CVA, surely liquidating the assets would provide a bigger return. Quote Link to post Share on other sites More sharing options...
thebooler 4,509 Posted March 23, 2012 Share Posted March 23, 2012 A very interesting statement. I wonder. Perhaps ... and I'm just speculating here ... Ticketus has seen its best chance of coming away with any return is to chase after the club rather than Whyte. But now a judge has more or less demolished their stance that they own Rangers' assets, it becomes clear that they have little real prospect of recouping their dosh other than by shifting their focus to the entity they made the agreement with. Which is to say Wavetower, now known as Rangers FC Group.....................which Craig Whyte may put into liquidation when the times right so they will never get their money back?Just a thought. Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted March 23, 2012 Share Posted March 23, 2012 Increasing the creditor debt by £30M will make 'a big difference' to the creditors 'as a whole'.... but outweighed by more attractive terms offered by purchasers where 60% of future income doesn't go to Ticketus. Quote Link to post Share on other sites More sharing options...
Brian Fantana 28,894 Posted March 23, 2012 Share Posted March 23, 2012 I'll wait until they have consulted with the RM Philadelphia lawyers before I slap any backs. Quote Link to post Share on other sites More sharing options...
Sicknote 26 Posted March 23, 2012 Share Posted March 23, 2012 ... but outweighed by more attractive terms offered by purchasers where 60% of future income doesn't go to Ticketus.Don't they have to find a balance between the creditors and the company. This seems very weighted in favour of the company. Quote Link to post Share on other sites More sharing options...
WVB 2,560 Posted March 23, 2012 Share Posted March 23, 2012 ....................which Craig Whyte may put into liquidation when the times right so they will never get their money back?Just a thought.The mans a genius. Sometimes I think we dont deserve him, the abuse he takes on here. Quote Link to post Share on other sites More sharing options...
GrumpyRyan 8 Posted March 23, 2012 Share Posted March 23, 2012 Why are some intent on pishing on good possibilities news from today! Moaning about something benefiting the club and not creditors FFS Quote Link to post Share on other sites More sharing options...
sergio 1,199 Posted March 23, 2012 Share Posted March 23, 2012 Rangers' administrators and Ticketus have both welcomed a ruling on the status of their contract following a court case that revealed the Ibrox club received two payments totalling more than £30million during Craig Whyte's stewardship.A judge at the Court of Session in Edinburgh would not give directions on administrators' request to tear up the contract because Duff and Phelps held back information on bids so as not to undermine the process.Administrators welcomed indications they would have the right to refuse to honour the deal if it was in the best interest of creditors. But Ticketus questioned whether that scenario could arise given the "strength" of the bid from Paul Murray's Blue Knights consortium, for which they are providing initial financial backing.The judge's written ruling clarified the exact nature of the deals between Ticketus and Rangers chairman Whyte. Documents showed that Whyte received more than £20million plus VAT in May last year as previously stated, for season tickets over three years.Rangers then sold tickets from another season - 2014-15 - receiving more than £5million on or about September 21. With VAT added, the total payments Rangers received under Whyte were £30.5million.Having sold season books from the current campaign, Ticketus now own the rights to tickets worth £27million over the next three years, the company have confirmed. The only other publicly confirmed bidder of the four interested parties, Brian Kennedy, is considering the implications of the complex ruling.Administrators had initially argued that the deal could put off potential investors as they look to sell the club, which went into administration last month over the non-payment of around £9million in PAYE and VAT following Whyte's takeover.Lord Hodge declined to give Ticketus preferential treatment saying their rights "were purely contractual rights and were not trust rights which would prevail over ordinary creditors in an insolvency". Duff and Phelps described that as a "significant step towards clarifying the future" of the club.In a statement, joint-administrator Paul Clark said: "Lord Hodge has made it clear that the Ticketus arrangements do not mean Ticketus has property or real rights over seats at the stadium or, indeed, the proceeds from the sale of future season tickets."It is clear from the judgement that, as administrators, we have the statutory right and powers to have the company (the club) refuse to honour the Ticketus arrangements if such a decision would be in the interests of creditors generally."30.5m Rangers received under Whyte were £30.5million.This report smells of tarrier shit to me ... 24.4 Million was not received by Rangers, as it did not enter the Clubs AccountsThere is no evidence that "ANY" Money came in to Rangers Accounts from Ticketus. Quote Link to post Share on other sites More sharing options...
54andcounting 627 Posted March 23, 2012 Share Posted March 23, 2012 Rangers received under Whyte were £30.5million.This report smells of tarrier shit to me ... 24.4 Million was not received by Rangers, as it did not enter the Clubs AccountsThere is no evidence that "ANY" Money came in to Rangers Accounts from Ticketus. I thought it was a strange report, but is on ITV web site; http://www.itv.com/sport/football/news/administrators-welcome-court-ruling-65331/? Quote Link to post Share on other sites More sharing options...
Al fae Kirky 2 Posted March 23, 2012 Share Posted March 23, 2012 It was a sarcastic comment aimed at the know alls who know fuck all.It wasn't aimed at yourself.Please enlighten us oh great lord!... Quote Link to post Share on other sites More sharing options...
Sicknote 26 Posted March 23, 2012 Share Posted March 23, 2012 Why are some intent on pishing on good possibilities news from today! Moaning about something benefiting the club and not creditors FFS It's called debate. Some of us want to know what's going on. Accepting the positive spin is a big part of why we are in this mess. We as a support should be active in getting to the truth and influencing the future. Today was very much a mixed result, that should not be lost in the postive PR job being done by the club/D&F. Quote Link to post Share on other sites More sharing options...
papaguy51 912 Posted March 24, 2012 Share Posted March 24, 2012 You got my PM then? I'll have a wee look mate.I'm mostly on here via the Mobile site now due to work and the bird, so PMs don't alert in the same way. Quote Link to post Share on other sites More sharing options...
WVB 2,560 Posted March 24, 2012 Share Posted March 24, 2012 I'll have a wee look mate.I'm mostly on here via the Mobile site now due to work and the bird, so PMs don't alert in the same way.Thats ok, I never really sent one. Quote Link to post Share on other sites More sharing options...
bluepeter 5,627 Posted March 24, 2012 Share Posted March 24, 2012 I'll have a wee look mate.I'm mostly on here via the Mobile site now due to work and the bird, so PMs don't alert in the same way.Big whooosh there mate! Quote Link to post Share on other sites More sharing options...
ger50champ 300 Posted March 24, 2012 Share Posted March 24, 2012 It was a sarcastic comment aimed at the know alls who know fuck all.It wasn't aimed at yourself.bit like you?? you mean Quote Link to post Share on other sites More sharing options...
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