Gaz52 11,837 Posted April 5, 2012 Share Posted April 5, 2012 breaking news...... Quote Link to post Share on other sites More sharing options...
Yata 161 Posted April 5, 2012 Share Posted April 5, 2012 The sky has broke Quote Link to post Share on other sites More sharing options...
fyfe 19 Posted April 5, 2012 Share Posted April 5, 2012 the administrator statement:Administrators' StatementThu, Apr 5, 2012Duff & Phelps, the administrators of Rangers Football Club, issued the following statement today:David Whitehouse, joint administrator, said: "Following the outcome of the bidding process, I can confirm today that we will be considering further three of the four bids submitted yesterday."We have had a number of discussions with the interested parties today and have stressed the benefits to them of engaging openly with the Club's fanbase."We can now see light at the end of the tunnel whereby the Club can exit from administration and focus upon success on the pitch. While we cannot be precise on timescale, exit from administration does look achievable by the end of the season. We also hope to announce next week acceptance of one bid, which would then be subject to a period of due diligence and exclusivity."Most importantly, following the bidding process, we believe that the most likely exit from administration will be the successful implementation of a CVA."Much has been speculated over recent weeks about the form of exit which the Club will take from administration. This is an extremely complicated case, not least because of the requirements to meet insolvency legislation, the rules of the various football authorities and the contractual requirements of key business partners of the Club. It is, however, appropriate that we once again set out our position in relation to the manner in which we are seeking to achieve an exit from administration."The first objective of administration is to achieve the survival of the company as a going concern. In relation to the football Club this can only be achieved via the exit from administration through a CVA. A CVA is a process by which creditors are presented with a proposal to deal with the legacy debts of the company. Creditors in turn vote upon those proposals and therefore there is a requirement for a CVA to meet the commercial needs of creditors. It is, therefore, essential that any CVA proposal is commercially acceptable to the general body of creditors. The ability of the company to exit through a CVA process is, therefore, dependent in part, on the level of offers submitted for the business and is in the gift of the potential purchasers to deliver. As stated, we believe this can be achieved."We would stress, however, that if a CVA could not be achieved, bidders have discussed with us the next best alternative being the sale of the business to a new legal entity which would continue to trade as Rangers Football Club."While such an arrangement is not desirable in so far as it would change the corporate entity, i.e, the registration number of the limited company, and would leave the Club facing European and domestic football penalties, it nevertheless could provide a platform to enable new and substantial investment into the Club to be made, which would in turn achieve the long term stability and viability of the business. As administrators, we would be in breach of our statutory duties if we rejected out of hand any legitimate proposal that asserted to secure the future of the Club."This solution is not our primary objective nor our preferred option, however we would ask fans to understand that delivery of a CVA can only be achieved if purchasers are prepared to offer enough to provide a return to creditors at a commercially acceptable level. We do, however, believe this can be achieved."Our focus continues to be achieving the best solution for the Club, its supporters and its creditors and we continue to believe this will be deliverable. We would expect to complete our negotiations in relation to the current round of bids, with the various stakeholders, including the major creditor groups over the next few days and we would hope that an announcement will be made during the course of next week with regard to the future ownership of the Club."We are aware that some fans wish to stage a protest at the match on Saturday against any form of liquidation. We understand their deep concern on this issue but the bidding process is at a critical and sensitive stage and, as administrators, we cannot support action - even though we favour a CVA - that may be interpreted as ultimately detrimental to the Club's prospects of emerging from the administration process successfully."The last few weeks have been extremely turbulent and a difficult time for the football club and I would like to thank the fans, the players and all of the staff at the Club for their tremendous continued support throughout this period." Quote Link to post Share on other sites More sharing options...
Johnny Dangerously 7,562 Posted April 5, 2012 Share Posted April 5, 2012 All fuckin' bad no doubt. Quote Link to post Share on other sites More sharing options...
Blue corn flakes 1,282 Posted April 5, 2012 Share Posted April 5, 2012 All fuckin' bad no doubt.good news Quote Link to post Share on other sites More sharing options...
fyfe 19 Posted April 5, 2012 Share Posted April 5, 2012 wonder which bid's been thrown out already? Quote Link to post Share on other sites More sharing options...
will_1974 204 Posted April 5, 2012 Share Posted April 5, 2012 Good news keep the faith Quote Link to post Share on other sites More sharing options...
ayrshireger 523 Posted April 5, 2012 Share Posted April 5, 2012 All fuckin' bad no doubt.Good news. Jim White is loving it!! Quote Link to post Share on other sites More sharing options...
Johnny Dangerously 7,562 Posted April 5, 2012 Share Posted April 5, 2012 good news Seriously? keep me informed Quote Link to post Share on other sites More sharing options...
Blue corn flakes 1,282 Posted April 5, 2012 Share Posted April 5, 2012 wonder which bid's been thrown out already?My money is on the germans Quote Link to post Share on other sites More sharing options...
Ferdasyn 431 Posted April 5, 2012 Share Posted April 5, 2012 I'm so fucking confused Quote Link to post Share on other sites More sharing options...
RossS1873 1,633 Posted April 5, 2012 Share Posted April 5, 2012 D&P asking not to protest against liquidation. Also saying that liquidation is the most unlikely form of exit from administration. If all goes well, we should be out of administration by the end of the season. Well, fingers crossed Quote Link to post Share on other sites More sharing options...
slapneillennon 6 Posted April 5, 2012 Share Posted April 5, 2012 Hahahahaha!I fucking love Jim White's wee smug coupon reading out positive news about us on Sky Sports News. The guy fucking hates Timmy...and Timmy hates him. Quote Link to post Share on other sites More sharing options...
King Jela 20,017 Posted April 5, 2012 Share Posted April 5, 2012 Did anybody else hear that ? It sounds like a............TIMPLOSION!!! :D :crabflute: Quote Link to post Share on other sites More sharing options...
Blue corn flakes 1,282 Posted April 5, 2012 Share Posted April 5, 2012 Seriously? keep me informed Looks seriously like there will be no liquidation and out of admin before end of season.get it right round yous timmy bastards looking in. And special get it round you to phil the murderer Quote Link to post Share on other sites More sharing options...
Smile 26,592 Posted April 5, 2012 Share Posted April 5, 2012 Sounds good. Quote Link to post Share on other sites More sharing options...
bluenose_72 198 Posted April 5, 2012 Share Posted April 5, 2012 Interesting to see which bid has been ditched already. Quote Link to post Share on other sites More sharing options...
kdoggrfc1 44 Posted April 5, 2012 Share Posted April 5, 2012 love it when jim trys not to be bias but a smile always pokes through Quote Link to post Share on other sites More sharing options...
Gaz52 11,837 Posted April 5, 2012 Author Share Posted April 5, 2012 http://www.youtube.com/watch?v=A3b9gOtQoq4 Quote Link to post Share on other sites More sharing options...
Rangers#1 5,446 Posted April 5, 2012 Share Posted April 5, 2012 We can now see light at the end of the tunnel whereby the Club can exit from administration and focus upon success on the pitch. While we cannot be precise on timescale, exit from administration does look achievable by the end of the season. We also hope to announce next week acceptance of one bid, which would then be subject to a period of due diligence and exclusivity.Most importantly, following the bidding process, we believe that the most likely exit from administration will be the successful implementation of a CVA.Some positive news at last Quote Link to post Share on other sites More sharing options...
broxibear87 129 Posted April 5, 2012 Share Posted April 5, 2012 Interesting to see which bid has been ditched already.From what I've seen on Twitter (I know) it seems to be the German bid that's been ditched. Quote Link to post Share on other sites More sharing options...
Blue corn flakes 1,282 Posted April 5, 2012 Share Posted April 5, 2012 Aluko coming on next and hearing about his future at the club. Quote Link to post Share on other sites More sharing options...
Columbo 588 Posted April 5, 2012 Share Posted April 5, 2012 Good news despite the figures mentioned earlier the Administrators are confident of a CVA been agreed Quote Link to post Share on other sites More sharing options...
gersandy 594 Posted April 5, 2012 Share Posted April 5, 2012 £134 million! Fuck sake! Quote Link to post Share on other sites More sharing options...
ClintonGrey 365 Posted April 5, 2012 Share Posted April 5, 2012 The good news is that they have ruled out a form of liquidation that will see us officially lose our history. Quote Link to post Share on other sites More sharing options...
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