jimgers 565 Posted April 19, 2012 Share Posted April 19, 2012 This If the admins wanted liquidation, they could very easily just liquidated Rangers from the off and nobody could do anything about it.No need for any plots or conspiracies. They could just do it.This is just yet more manipulation to pressure the admins.True but they would not have made £2mil in the proccess. Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted April 19, 2012 Share Posted April 19, 2012 I would've thought a critical condition would be that Whyte transfers his shares to the successful bidder. D&P, despite dismissing his shareholding as irrelevant, can't guarantee that he'll transfer his shares to the successful bidder.The shareholding is largely irrelevant as the shares are more or less worthless ... it's the "floating charge" that continues to give Whyte a hold over Rangers. Frankly, unless that is circumvented I think liquidation may become the only show in town. Quote Link to post Share on other sites More sharing options...
Ben10 2,272 Posted April 19, 2012 Share Posted April 19, 2012 In all honesty lives are at stake here. Quote Link to post Share on other sites More sharing options...
delamonty 992 Posted April 19, 2012 Share Posted April 19, 2012 How did it get to this? With the savings on salaries and so on, was that not supposed to be enough to see us survive? Kennedy or someone must step up to the plate today you'd think? Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted April 19, 2012 Share Posted April 19, 2012 How did it get to this? With the savings on salaries and so on, was that not supposed to be enough to see us survive? Kennedy or someone must step up to the plate today you'd think?The salary reductions were a short-term measure designed to see the club through the sale process. Quote Link to post Share on other sites More sharing options...
2daludaludalu 390 Posted April 19, 2012 Share Posted April 19, 2012 ok, never had the need to watch porn Aye me neither. Don't know how I know that lol Quote Link to post Share on other sites More sharing options...
delamonty 992 Posted April 19, 2012 Share Posted April 19, 2012 The salary reductions were a short-term measure designed to see the club through the sale process.True mate. But we're not even in May yet.. Just seems surprising to me. I think for the first time, I am really starting to fear for our club. Quote Link to post Share on other sites More sharing options...
Edmiston Drive 3,846 Posted April 19, 2012 Share Posted April 19, 2012 Aye me neither. Don't know how I know that lolProbably overheard guys talking about him in the pub Quote Link to post Share on other sites More sharing options...
The Godfather 71,886 Posted April 19, 2012 Share Posted April 19, 2012 Aye me neither. Don't know how I know that lol Come on now... Quote Link to post Share on other sites More sharing options...
Polo 1,433 Posted April 19, 2012 Share Posted April 19, 2012 The shareholding is largely irrelevant as the shares are more or less worthless ... it's the "floating charge" that continues to give Whyte a hold over Rangers. Frankly, unless that is circumvented I think liquidation may become the only show in town.You’ve got that the wrong way round mate.The transfer of the shares is critical to us coming out with new owners under a CVA. The floating charge is worthless as Whyte hasn’t lent Rangers any money. It only covers any sums due by Rangers to Whyte. Quote Link to post Share on other sites More sharing options...
RFCstuart 317 Posted April 19, 2012 Share Posted April 19, 2012 I fucking hate Whyte How can he think he can get away with taking a loan out against the club before he owns us, leave the debt against the club and still expect to get £30 fucking million And i honestly can't comprehend liquidation. Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted April 19, 2012 Share Posted April 19, 2012 You’ve got that the wrong way round mate.The transfer of the shares is critical to us coming out with new owners under a CVA. The floating charge is worthless as Whyte hasn’t lent Rangers any money. It only covers any sums due by Rangers to Whyte.The shares are worthless ... they have no value. The "floating charge" is Whyte's bargaining chip. Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted April 19, 2012 Share Posted April 19, 2012 I fucking hate Whyte How can he think he can get away with taking a loan out against the club before he owns us, leave the debt against the club and still expect to get £30 fucking million And i honestly can't comprehend liquidation.The gamble on Whyte's part appears to be that someone will settle the Ticketus debt and give him a few million quid rather than see Rangers liquidated. Quote Link to post Share on other sites More sharing options...
Grant_1986 73 Posted April 19, 2012 Share Posted April 19, 2012 Whoever is part of liquidating us must surely understand that they will never be safe to walk the streets of Glasgow (probably even Scotland) again? We're not exactly just a normal company/football club, we took hundreds of thousands down to Manchester ffs, do they honestly think all these supporters will take their lies and stand back while they make a mockery of our football club? Craig Whyte, David Murray, Duff and Phelps, Ticketus etc etc etc............... Quote Link to post Share on other sites More sharing options...
Polo 1,433 Posted April 19, 2012 Share Posted April 19, 2012 The shares are worthless ... they have no value. The "floating charge" is Whyte's bargaining chip.That's just wrong. The ownership of The Rangers Football Club plc is absolutely critical to agreeing a CVA and emerging as the same company (i.e. not liquidating and starting as a newco). If the shares aren't transferred then no bidder is going to pay money into the CVA pot! If Whyte doesn't transfer the shares to someone putting money into the CVA pot then the only way forward would be for Whyte to fund the CVA or for us to enter liquidation.A floating charge secures the assets of a company in order that sums owed to the charge-holder can be satisfied by seizing and selling those assets if there's a default in repayment. If you don't owe the charge holder any money then it's worthless to them. Quote Link to post Share on other sites More sharing options...
Thermopylae 15,286 Posted April 19, 2012 Share Posted April 19, 2012 Whoever is part of liquidating us must surely understand that they will never be safe to walk the streets of Glasgow (probably even Scotland) again? We're not exactly just a normal company/football club, we took hundreds of thousands down to Manchester ffs, do they honestly think all these supporters will take their lies and stand back while they make a mockery of our football club? Craig Whyte, David Murray, Duff and Phelps, Ticketus etc etc etc............... You have to wonder sometimes if they are aware of that I mean we saw on the front steps at Ibrox whyte couldn't wait to scuttle back inside after reading out the statement so he's obviously not a physically brave man and yet he apparently seems to have no problem with stitching us up . Quote Link to post Share on other sites More sharing options...
RFC55 108,905 Posted April 19, 2012 Share Posted April 19, 2012 Those once again in this thread dismissing it as media bullshit really need to get their heads out their arses! What the fuck needs to happen for people to start believing we are in big trouble?Boss has warned us we had 500k in the bank end of March and I think its safe to assume we are hovering over the edge here! The daily record have been pretty bang on in all this! Quote Link to post Share on other sites More sharing options...
JM1872 3,708 Posted April 19, 2012 Share Posted April 19, 2012 Liquidation wouldn't surpise me Also wouldn't surprise me if that's been the plan the whole time, and the only way out No surrender and all that but I think time is short Quote Link to post Share on other sites More sharing options...
Gallows high 208 Posted April 19, 2012 Share Posted April 19, 2012 That's just wrong. The ownership of The Rangers Football Club plc is absolutely critical to agreeing a CVA and emerging as the same company (i.e. not liquidating and starting as a newco). If the shares aren't transferred then no bidder is going to pay money into the CVA pot! If Whyte doesn't transfer the shares to someone putting money into the CVA pot then the only way forward would be for Whyte to fund the CVA or for us to enter liquidation.A floating charge secures the assets of a company in order that sums owed to the charge-holder can be satisfied by seizing and selling those assets if there's a default in repayment. If you don't owe the charge holder any money then it's worthless to them.My understanding of the financial structure as well Quote Link to post Share on other sites More sharing options...
Thermopylae 15,286 Posted April 19, 2012 Share Posted April 19, 2012 Those once again in this thread dismissing it as media bullshit really need to get their heads out their arses! What the fuck needs to happen for people to start believing we are in big trouble?Boss has warned us we had 500k in the bank end of March and I think its safe to assume we are hovering over the edge here! The daily record have been pretty bang on in all this!TBH I think people are just dealing with it the best they can ... I don't think deep down anyone really believes liquidation can't happen Quote Link to post Share on other sites More sharing options...
Gillete 1,338 Posted April 19, 2012 Share Posted April 19, 2012 What's happened to that £3.5m being contested ?When does that happen and it's decided who gets it ? Quote Link to post Share on other sites More sharing options...
Sobatai 70 Posted April 19, 2012 Share Posted April 19, 2012 What's happened to that £3.5m being contested ?When does that happen and it's decided who gets it ?Hasn't that been subsumed into a wider action against Collyer Bristow? Quote Link to post Share on other sites More sharing options...
MosesMcNeil 1,664 Posted April 19, 2012 Author Share Posted April 19, 2012 TBH I think people are just dealing with it the best they can ... I don't think deep down anyone really believes liquidation can't happen It can - but, most importantly of all, we'll still be there in countless thousands to re-establish The Rangers.Upwards and onwards. Quote Link to post Share on other sites More sharing options...
sergio 1,199 Posted April 19, 2012 Share Posted April 19, 2012 KJ : Brian Kennedy will up his bid by 100%RK: Can you tell me what this means ? KJ: It means he will put in double what he did previously.Mensa Jackson at his best - again nothing new in this interview - The poker game draws to a close, Quote Link to post Share on other sites More sharing options...
Spacecowboy 92 Posted April 19, 2012 Share Posted April 19, 2012 Is liquidation not how Whyte will be guaranteed to make money? If so that may have been the plan all along? Kennedy said he wont let it happen, interesting few hours ahead. Apart from Celtic, who else gains from us being liquidated?no one gains from the most succesful club going, not even grey collarded skivers would benifit any in the long run, quite the opposite in fact.Just they are too short sighted to notice it ATM, and all slavering at the possibility, but as has been shown they should be careful what they wish for as it'll come back to bite them what ever way and what ever we are calling ourselves after the fact (if it does in fact happen, which i hope it doesnt) Quote Link to post Share on other sites More sharing options...
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