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How will an 'Incubator' CVA be easier than standalone CVA?


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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!

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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.

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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.

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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.

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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?

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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!

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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!!

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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.

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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

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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.

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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

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I know but what I meant was if the creditors stlll don't accept the CVA then that must be a possibility is all

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.

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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.

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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.

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I know but what I meant was if the creditors stlll don't accept the CVA then that must be a possibility is all

In this case the company is wound up, balance and assets (sold and) divided up then the creditors take what they're given

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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.

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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!

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