Liquidation is the best option now.

[krissg910 110]

Rash statements?????

D&P, the company assigned to save the club, have mentioned the 'L' word publically.

and?

as an adminastrator the l word is part and parcel of every day business.

for them not to mention it would be very silly.

however just because it is mentioned does not mean it will come to pass. there is a long way to go before liquidation becomes the only viable option.

like i said it could happen but i would say that at the moment theres only a 10-20% chance of some sort of liquidation.

[gersandy 594]

because they are doing their job. How incompetent do you think they are? Their job is to come to the best deal for the creditors

Love your name by the way.

If they are mentioning it, it MUST be a viable option then.

[gersandy 594]

Who wants to come in and out of administration for the next 10 years?

[Marco Negri's Beard 1,423]

Love your name by the way.

If they are mentioning it, it MUST be a viable option then.

Christ, where have you been. Of course it's a viable option, but certainly one that the majority don't want. Big difference between having a 'viable option' and it being the only option.

Still plenty of room for a CVA, people shiteing themselves about OTT figures doesn't change anything

[Marco Negri's Beard 1,423]

Absolutely hilarious OP.

Sorry gersandy, and I know the figures being thrown about on radio and tv this afternoon are frightening, but the facts as we know them from todays report point to the entirely opposite from liquidation.

I dont support one bid over another as long as none of the bidders wish to go down the liquidation route, but take the BK bid as one example.

Their itiktus means that Ticketus claim against the club for £27M disappears. Add into that the debentures debt of £7.7M which is strictly debt from an accounting POV but will never be required to be repaid. Add as well the £3.3M owed to other clubs as we are owed in more than that from other clubs, so these offset in our favour. Take that £38M from the "OFFICIAL" debt of £55M (note that, £55M, not any other figure you see or read about), and you have an active debt of around £18M.

The BTC is not yet completed, and both our lawyers and the lawyers for the Murray Group still believe this will be won. We will see, but in any event it is most unlikely (next to impossible actually) for us to be hit with the full £93M in tax, fines and penalties from HMRC. Also, HMRC have already stated (privately) they will be happy with a long-term payment plan for any debt arising.

Sorry just had to quote this again. Should be on every page. Take note gersandy

[Marco Negri's Beard 1,423]

Who wants to come in and out of administration for the next 10 years?

Who wants to be liquidated?

[BigAndyM 9]

Who wants to come in and out of administration for the next 10 years?

Who wants to pay that price for the club?

[Brubear 2,922]

Am i missing something here, Walter Smith came out and said last Friday when he left 9 months ago all debt was cleared and Rangers were in their best financial state for 70-80 years.

Where do these figures come from?

I didn't hear that quote, however, if it was said it wasn't that far from the mark. As of this time last year we had operating creditors which were offset by oprating debtors and cash in the bank and our only real debt was £18m bank loan, however, we had an agreement to pay that off over 18 years. That meant excluding the tax cases we were actually financially OK. Problem was we had the tax cases and that made the bank nervous and SDM wanted out. Whyte offered a deal which got the bank paid off and transfer of potential tax liablilty from SDM to him, this was too good for SDM and the bank to turn down. Unfortuantely like most things in life if it sounds too good to be true it probably is, and the club are left picking up the pieces.

[Madina 3,821]

It's not looking good, again

[tartansmokie 36]

Absolute ballocks. Liquidation is not the best option. Not while there is still a good chance of getting a CVA with the creditors.

[gersandy 594]

Christ, where have you been. Of course it's a viable option, but certainly one that the majority don't want. Big difference between having a 'viable option' and it being the only option.

Still plenty of room for a CVA, people shiteing themselves about OTT figures doesn't change anything

We'll some of the numptys blasting this thread out of the water should get their heads out of their arses and realise that, as bad as it seems, liquidation is now being discussed and is a real possability.

[Marco Negri's Beard 1,423]

We'll some of the numptys blasting this thread out of the water should get their heads out of their arses and realise that, as bad as it seems, liquidation is now being discussed and is a real possability.

Liquidation has been discussed for weeks if not months. People's heads are firmly on their shoulders. Everyone is aware that liquidation is a possibility, few see it as preferable. How could you think people aren't even considering the idea that liquidation is possible when we are having a card display fighting against it on Saturday?

People are blasting this thread out of the water because you have clearly shat it at overly-inflated figures. Again, I refer you to the post that I have quoted (by TannochsideBear) just further up this page.

[Sobatai 70]

Rash statements?????

D&P, the company assigned to save the club, have mentioned the 'L' word publically.

They are required to by law ... they must outline all scenarios to the creditors.

[delparlane 5,662]

God almighty am I geting tired of this ridiculous rollercoaster ride - one day reason for hope, the next the sky is falling. I honestly have no idea what to believe anymore.

[TheCutch 4,340]

Calm down FFS!!

Let's see what happens when we get a preferred bidder.

[WVB 2,560]

[ronniemca 479]

don't know if liquidation is the best option or not.but i think, as dave king said, its absolutely unavoidable. so we'll just have to make the best of it i'm afraid

[scottyc06 6,915]

Aye ok. Maybe i started a shitty thread. But i know its what every gers fan is thinking about.

The extent of our debt is disasterous!

We've had 2 utter scumbags for owners, (murray and white). How do we know the next man is going to be any better? Lets not forget alot of you on here were slating Paul Murray 6 months ago, now hes a "blue knight". Its a farce.

One man cant make all the decisions at ibrox now. It has to be done by the fans, as one entity.

We'll see what happens in the next few weeks though.

2 utter scumbags? Did you call DM a scumbag when we were winning 9IAR?

Also you talk about Paul Murray being branded a blue knight as being a farce, then go on to say that "one man can't make all the decisions" pretty sure Murray is part of a consortium.. You then say it has to be done by the fans, again Paul Murrays bid includes a fan buy in! So it's a farce, yet covers everything you want?

Really don't understand your train of thought here!

The amount of debt being thrown about is a worst case scenario! And tbh, the figure is not that much more than we have known about for a while!

Liquidation has always been a possibility however a cva is the most likely outcome!

[TheMotor 2,208]

Christ, there are a few posters in here that must be in need of a nappy change right now.

[scottyc06 6,915]

don't know if liquidation is the best option or not.but i think, as dave king said, its absolutely unavoidable. so we'll just have to make the best of it i'm afraid

If it's not the best option then how is it "absolutely unavoidable" when D&P are their to choose the best option?

[LegendofCoop 17,315]

This is different to any other day since Feb 14th because???

[OlegKuznetsov 10,816]

Jesus! What a shit thread.

This is pretty much exactly what we expected.

Tims and the media sensationalising already published information.

[Davie2909 21]

GTF with this liquidation nonsense! How the hell can we possibly be losing £2mill per month?

[scottyc06 6,915]

This is different to any other day since Feb 14th because???

Exactly! I fail to see where the whole shock comes from! If anything today has been a positive, we are now down to our final 3 bids and by next week we will know the preferred bid and be well on our way to coming out of administration!

[gunslinger 270]

we have at least 2 bids that don't want liquidation. so its not necessary.

the players have deliberately derided their value in their new contracts so liquidation gains creditors little.