500k deposit

[Redwhiteandblue 3,330]

That is nonsense. It costs a lot of money to put together a bid.

TBK expected Ticketus to pay a share of the £500k but Ticketus refused. Then TBK agreed that they would pay it all themselves but then discovered that Ticketus were in discussion with Bill Ng. The Singaporean bid was more likely to succeed than TBK so the latter withdrew (at least for the time being). If TBK handed over £0.5m to D & P and then lost out to Bill Ng, they don't get the cash back. It goes to D & P and is used to pay the admin costs, or some of them.

it doesnt matter what the £0.5m goes to, at the end of the day, its money that has to be paid if you want to buy the club. Tbk obviously dont have enough money to take control of the club so we're better off without them.

[gunslinger 270]

That is incorrect.

The Singaporean bid was likely to gazump the TBK bid and if TBK had handed over £500k it would be gone. Ticketus didn't want to pay a share of the £500k with TBK because Ticketus were hoping to do a better deal with Bill Ng behind the backs of TBK.

that's not necessarily right either.

[Edmiston Drive 3,846]

just like the rfff money it ends up with d & p no matter how you allocate it.

Please give it a rest, once again you style your reply to make it look as if the administrators are up to something.

[Redwhiteandblue 3,330]

but would you pay half a mil to do it even though you don't believe you will own the club at the end of it.

for me only a moron would give d & p this money right now.

if you genuinely thought you could buy the club then you would pay the £0.5m. How would that make you a moron? Only a moron would pay it if they thought they couldnt follow their bid through to the end.

[Jockney69 48]

no your right I was rounding up.

Cheers for clarity

Trying to keep track of this whole issue is pretty crazy.

Hang in there everyone

[Edmiston Drive 3,846]

That is nonsense. It costs a lot of money to put together a bid.

TBK expected Ticketus to pay a share of the £500k but Ticketus refused. Then TBK agreed that they would pay it all themselves but then discovered that Ticketus were in discussion with Bill Ng. The Singaporean bid was more likely to succeed than TBK so the latter withdrew (at least for the time being). If TBK handed over £0.5m to D & P and then lost out to Bill Ng, they don't get the cash back. It goes to D & P and is used to pay the admin costs, or some of them.

Re your opening as to "expected" do you have the facts on this, was it not that mini asked for them to pay the 500k? And re paying admin costs these cost are the running of the club, I recall the administrators mentioning this when they told everyone about the non refundable investment. The other side of the coin that you failed to mention is that this investment would be deducted from their offer.

I chose the word investment as that is an appropriate call on the situation.

[gunslinger 270]

Please give it a rest, once again you style your reply to make it look as if the administrators are up to something.

not at all but if you pay of a creditor for d & p it just leaves cash for d & p.

any money going into rangers goes the them first as we exit admin.

[Edmiston Drive 3,846]

not at all but if you pay of a creditor for d & p it just leaves cash for d & p.

any money going into rangers goes the them first as we exit admin.

God almighty, you said you went to uni, which one and what did you take? That is serious accusations that you are hinting at, as in saying the money goes to them as if they will not do anything with it but keep it back for their fees.

[RWM1216 20]

God almighty, you said you went to uni, which one and what did you take? That is serious accusations that you are hinting at, as in saying the money goes to them as if they will not do anything with it but keep it back for their fees.

Gunslinger has a point - when the bid is accepted, I am led to believe D&P are paid first, then the secured creditor and lastly the unsecured creditors are given a pence in the pound settlement from the remainder.

[JCDBigBear 10,825]

Re your opening as to "expected" do you have the facts on this, was it not that mini asked for them to pay the 500k? And re paying admin costs these cost are the running of the club, I recall the administrators mentioning this when they told everyone about the non refundable investment. The other side of the coin that you failed to mention is that this investment would be deducted from their offer.

I chose the word investment as that is an appropriate call on the situation.

Perhaps I got the sharing of the deposit wrong. It still stands that Ticketus were talking to Bill Ng about a deal behind TBK backs. If that deal was agreed and TBK had paid the £500k and then lost out to Bill Ng, TBK do not get back the money. Only the winning bidder would get the £500k deducted from the winning price.

[JCDBigBear 10,825]

it doesnt matter what the £0.5m goes to, at the end of the day, its money that has to be paid if you want to buy the club. Tbk obviously dont have enough money to take control of the club so we're better off without them.

D & P thought they had sufficient otherwise they wouldn't have been talking about giving TBK preferred bidder status. It matters to the people putting in £500k where the money goes. It only goes towards buying the club IF you are the successful bidder. If you have paid the money and lose out on the bidding you do not get the money back.

[corkinator 611]

That is nonsense. It costs a lot of money to put together a bid.

TBK expected Ticketus to pay a share of the £500k but Ticketus refused. Then TBK agreed that they would pay it all themselves but then discovered that Ticketus were in discussion with Bill Ng. The Singaporean bid was more likely to succeed than TBK so the latter withdrew (at least for the time being). If TBK handed over £0.5m to D & P and then lost out to Bill Ng, they don't get the cash back. It goes to D & P and is used to pay the admin costs, or some of them.

A fuckin hate ticketus, jumping from dog to dog like an excited flea thinking it owns each dog is sucking blood from. Bastards.

[JCDBigBear 10,825]

A fuckin hate ticketus, jumping from dog to dog like an excited flea thinking it owns each dog is sucking blood from. Bastards.

Mate, it's Whyte you should hate. Ticketus are only guilty of having been duped by that conman. Ticketus will lose a lot of money because of their deal with Whyte.

[MosesMcNeil 1,664]

Mate, it's Whyte you should hate. Ticketus are only guilty of having been duped by that conman. Ticketus will lose a lot of money because of their deal with Whyte.

Hell mend Ticketus then. I find the very idea that Ticketus were also 'duped' by Whyte to be too fantastic to believe. They did, after all, hand over the monies before Whyte used the funds to buy the club.

Are we expected to believe they didn't know of the plan for their millions?

[Cadman 342]

from what i gather TBK were the preferred bidders through having the various fan's associations on-side - which D&P seen as being a benificial factor in the future wellbeing of the club. That TBK were unwilling to put up 500k of the consortiums own money (outwith Ticketus) possibly shows a huge lack of confidence in the bid they have on the table and where future finance is going to come from because Ticketus would only allow themselves to be milked for so long before saying they've had enough. When that happens where do we do we go from there - probably back to where we are just now.

[Edmiston Drive 3,846]

Gunslinger has a point - when the bid is accepted, I am led to believe D&P are paid first, then the secured creditor and lastly the unsecured creditors are given a pence in the pound settlement from the remainder.

The administrators will inform the creditors as to their fees for them to rubber stamp their fees. They will give them a full breakdown as to the total fees. Creditors can question these. Plus what is the big hassle over people getting paid for doing a job?

GS along with one or two others accuse or put heir points in such a way as to make posters think that they are up to something. This is laughable if not a serious thing for them to say.

[Edmiston Drive 3,846]

Perhaps I got the sharing of the deposit wrong. It still stands that Ticketus were talking to Bill Ng about a deal behind TBK backs. If that deal was agreed and TBK had paid the £500k and then lost out to Bill Ng, TBK do not get back the money. Only the winning bidder would get the £500k deducted from the winning price.

Indeed re your summary as to the 500k , but this is part and parcel of administrators seeking to get someone to show their commitment. They did state that this gives them 2 weeks to get involved with the creditors and try to get them onside as to their offer, they also made it clear until the deal is signed off they the administrators have to look at any bids made at any time up until they go to legals.

Everyone involved in bidding would have had experience of dealing with administrators judging by the backgrounds, most certainly mini for sure. And the ludicrous suggestions made by posters that the administrators will pocket the 500k .

In the overall scheme of things at this stage the bidders must know where they stand as regards their bids by the various meetings (yes the administrators would have been having meetings).

Also the news tonight re the administrators looking for damages against the law firm that carried out the work on behalf of whyte for the sum of £25m , should not be a surprise as they made it clear that a number of weeks ago that they notified the courts as to bringing this to the courts.

Yet we get told they have been doing nothing! and also what we get is that they are definitely working with whyte as this is a further delay. Winning this case or getting a substantial award will help settle the over debts, that everyone has been saying that we should pay our debts. They ahve followed leagl advice based on the information given to our leagl advisers . Unless they are also in Cahoots with D&P and whyte

[gunslinger 270]

nothing unusual or wrong about d & p getting paid first. happy to confirm that.