Scott-RFC 308 Posted May 3, 2012 Share Posted May 3, 2012 I am loyal to a club not a companyIf Bill Miller can get us starting next season in the SPL with no deductions ill be amazed and satisfied. Quote Link to post Share on other sites More sharing options...
Straight-Edge-Loyal 6,696 Posted May 3, 2012 Share Posted May 3, 2012 I would imagine that if the CVA can't be agreed then there will be a massive threat of just saying fuck it liquidate the old company and just leave everyone in the lurch from it while if we had just the one company we couldn't do that. Quote Link to post Share on other sites More sharing options...
Polo 1,435 Posted May 3, 2012 Share Posted May 3, 2012 I doubt it will happen like that. Who would pay the administrators for months and even years?! I think it's more likely that the oldco will be liquidated if nothing is worked out relatively quickly regarding a CVA.I think the creditors would be keen to find out if the £25m claim against Collyer Bristow etc. is successful before calling it a day! Quote Link to post Share on other sites More sharing options...
ogbg 20 Posted May 3, 2012 Share Posted May 3, 2012 Is being able to transfer our history into the Newco dependent on the old not being liquidated i.e. a CVA being achieved?Leeds liquidated their oldco and kept their history. Quote Link to post Share on other sites More sharing options...
The Dude 20,026 Posted May 3, 2012 Share Posted May 3, 2012 Leeds liquidated their oldco and kept their history.as did EVERY Club who underwent a Newco. Quote Link to post Share on other sites More sharing options...
Scott-RFC 308 Posted May 3, 2012 Share Posted May 3, 2012 Leeds liquidated their oldco and kept their history.I believe that will probably happen here as well.If its the middle of next season and there is a team out on the field, I dont think there will be the same loyaly to the old company. The loyalty will be to the club. Quote Link to post Share on other sites More sharing options...
al-ger 0 Posted May 3, 2012 Share Posted May 3, 2012 Don't bank on the "oldco" ever re-merging. It's obviously impossible to say as nobody really knows the ins and outs but depending on many things, not least of all the tax case/ticketus it may be in the best interests of the creditors to wind the current company up and distribute what funds / assets are available.I would assume D&P would be retained in some capacity as already stated, they would not however be putting a full team, full time into dealings for a further x years. Quote Link to post Share on other sites More sharing options...
ogbg 20 Posted May 3, 2012 Share Posted May 3, 2012 I would imagine that if the CVA can't be agreed then there will be a massive threat of just saying fuck it liquidate the old company and just leave everyone in the lurch from it while if we had just the one company we couldn't do that.Leave who in the lurch? The creditors? Quote Link to post Share on other sites More sharing options...
Straight-Edge-Loyal 6,696 Posted May 3, 2012 Share Posted May 3, 2012 Leave who in the lurch? The creditors?Yeah anyone we owe money to. I can't stress enough how much I don't want to happen but if it can't be agreed with all the assets in a new company that must be a very real possibleity. Quote Link to post Share on other sites More sharing options...
Anchorman 85 Posted May 3, 2012 Author Share Posted May 3, 2012 as did EVERY Club who underwent a Newco.Dude, I'm not doubting for a minute thats the case. The thing that's nagging in my head is if it was this easy to leave the 'toxic' bit behind and start again, walk in to the Newco with our history intact in a suitcase taken from the old, what have we been doing for months? Am I missing something? Was it only the fear of sanctions? I'm happy to be told the obvious bit I'm missing and that I'm being a twat! Quote Link to post Share on other sites More sharing options...
The_Muher 0 Posted May 3, 2012 Share Posted May 3, 2012 Our history is fine regardless. What part of is hard for people to comprehend? Show me a club which has 'lost its history'. Just one.I'm sick of going on about this to ,quite frankly, cunts!No one will ever take away my memories from growing up, or the trophies I witnessed us win.Any fud in any doubt, ask yourself these questions.1. What team have you watched all your life?2. What badge and strip did they wear on the park?3. When they wear that same badge and strip next season, what team are they?If answering those questions you come to the conclusion they're not your club, don't let the door hit you on the way out!! Quote Link to post Share on other sites More sharing options...
The Dude 20,026 Posted May 3, 2012 Share Posted May 3, 2012 Dude, I'm not doubting for a minute thats the case. The thing that's nagging in my head is if it was this easy to leave the 'toxic' bit behind and start again, walk in to the Newco with our history intact in a suitcase taken from the old, what have we been doing for months? Am I missing something? Was it only the fear of sanctions? I'm happy to be told the obvious bit I'm missing and that I'm being a twat!We've been in admin less than 3 months. Most admins take 9+ months. WE've had it easy. Very fucking easy infact. The ideal should always be exit via CVA. Repay creditors (if only partially) and emerge stronger. Due to a number of reasons a CVA is no longer in reach. So its Newco or die. Quote Link to post Share on other sites More sharing options...
TheFarmer 260 Posted May 3, 2012 Share Posted May 3, 2012 We've been in admin less than 3 months. Most admins take 9+ months. WE've had it easy. Very fucking easy infact. The ideal should always be exit via CVA. Repay creditors (if only partially) and emerge stronger. Due to a number of reasons a CVA is no longer in reach. So its Newco or die.Millers bid involves a CVA and a newco Quote Link to post Share on other sites More sharing options...
TheFarmer 260 Posted May 3, 2012 Share Posted May 3, 2012 I'm sick of going on about this to ,quite frankly, cunts!No one will ever take away my memories from growing up, or the trophies I witnessed us win.Any fud in any doubt, ask yourself these questions.1. What team have you watched all your life?2. What badge and strip did they wear on the park?3. When they wear that same badge and strip next season, what team are they?If answering those questions you come to the conclusion they're not your club, don't let the door hit you on the way out!!Anyone who stops following 'The Rangers FC' playing at Ibrox and training at Auchenhowie under Bill Miller, were never real fans in my eyes.The only difference will be the club will be moved from the company that was set up in 1899 to a new company, with the option to move back to the old company sometime in the future.Do you think Leeds United fans are worried about their club being moved to a new company in 2007, hardly would be my guess. Quote Link to post Share on other sites More sharing options...
ogbg 20 Posted May 3, 2012 Share Posted May 3, 2012 Yeah anyone we owe money to. I can't stress enough how much I don't want to happen but if it can't be agreed with all the assets in a new company that must be a very real possibleity.The administrators picked his bid precisely because it offered a better deal for the creditors. That's their remit Quote Link to post Share on other sites More sharing options...
FlippinEck 3,736 Posted May 3, 2012 Share Posted May 3, 2012 Will we still be paying the administrators over the months until the other cases are taken care of or will Miller be taking over the battles from now on? Quote Link to post Share on other sites More sharing options...
The Dude 20,026 Posted May 3, 2012 Share Posted May 3, 2012 Millers bid involves a CVA and a newcoIt does, however it isn't reliant on a CVA being agreed. If it cant then the creditors will take what they are given and the oldco will be wound up. Quote Link to post Share on other sites More sharing options...
Straight-Edge-Loyal 6,696 Posted May 3, 2012 Share Posted May 3, 2012 The administrators picked his bid precisely because it offered a better deal for the creditors. That's their remitI know but what I meant was if the creditors stlll don't accept the CVA then that must be a possibility is all Quote Link to post Share on other sites More sharing options...
ogbg 20 Posted May 3, 2012 Share Posted May 3, 2012 I know but what I meant was if the creditors stlll don't accept the CVA then that must be a possibility is allIf they don't accept a CVA then the oldco will be liquidated and they'll get the £11m split between them, which is more than TBK were offering in their CVA. Quote Link to post Share on other sites More sharing options...
Straight-Edge-Loyal 6,696 Posted May 3, 2012 Share Posted May 3, 2012 If they don't accept a CVA then the oldco will be liquidated and they'll get the £11m split between them, which is more than TBK were offering in their CVA.I thought that 11 million was for the CVA and if wasn't agreed then it would be taking out and back to Miller thanks for clearing that up for me.I'm just glad there finally seems an end to this one way or another. Quote Link to post Share on other sites More sharing options...
DaRangerz 4 Posted May 3, 2012 Share Posted May 3, 2012 Do you think it is just as easy as transferring the stadium, Murray Park and players to a newco? Yet leave behind the bits we don't want!?I can see this turning into a disaster. Also, Whyte who has made a living out of such things didn't see this coming? Come on guys.At best I see us renting Ibrox, which will cost us an fortune. Quote Link to post Share on other sites More sharing options...
al-ger 0 Posted May 3, 2012 Share Posted May 3, 2012 I know but what I meant was if the creditors stlll don't accept the CVA then that must be a possibility is allIn this case the company is wound up, balance and assets (sold and) divided up then the creditors take what they're given Quote Link to post Share on other sites More sharing options...
Straight-Edge-Loyal 6,696 Posted May 3, 2012 Share Posted May 3, 2012 In this case the company is wound up, balance and assets (sold and) divided up then the creditors take what they're givenSeems like the 11 million will be divided instead. Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted May 3, 2012 Share Posted May 3, 2012 There was no realistic prospect of doing a CVA with the agreement of Ticketus and Whyte - their interests were mutually exclusive. This was clear from an early stage and TBK wasted a ridiculous amount of time trying to do a deal with Ticketus.Miller's deal does not depend on a CVA, Ticketus or Whyte per se, although the merging of oldco and newco in the future does and he maybe has a 50:50 chance of achieving that.There was one unconditional bid on the table. TBK only have their selves to blame today.One word of caution - Miller's PB status does not yet guarantee he will be our next owner - many a slip twixt cup and lip. Quote Link to post Share on other sites More sharing options...
Anchorman 85 Posted May 3, 2012 Author Share Posted May 3, 2012 I'm sick of going on about this to ,quite frankly, cunts!No one will ever take away my memories from growing up, or the trophies I witnessed us win.Any fud in any doubt, ask yourself these questions.1. What team have you watched all your life?2. What badge and strip did they wear on the park?3. When they wear that same badge and strip next season, what team are they?If answering those questions you come to the conclusion they're not your club, don't let the door hit you on the way out!!Listen pal, who is that fuckin post aimed at??? I am the OP and I've no fuckin intention of turning my back on the Club and I don't see too many others on this thread saying it either. The OP is curiousity about what today's statement means - END OF!! If you want to make the 'cunt' allegation at me lets find another forum for sorting that out ya fuckin twat! Quote Link to post Share on other sites More sharing options...
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