krissg910 110 Posted May 21, 2012 Share Posted May 21, 2012 the haven't delayed anything. in an interview last week they stated the letters would be getting sent out next friday(25th may).cant remember the article to post a link but i am 100% certain on this Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 21, 2012 Share Posted May 21, 2012 You really like to spread FUD dont you....I did say yet. to be fair its more likely there will just be an uproar when people see the offer in reality not d&p speak. Quote Link to post Share on other sites More sharing options...
ray 105 Posted May 21, 2012 Share Posted May 21, 2012 so we know some of that was a lie. but was it all?I think green is another boiler room stoker. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 21, 2012 Share Posted May 21, 2012 £8.5 million - D&P = £6million?That will never be accepted my HMRC & Ticketus They'll probably get about £2million each, taking away the catering etc. Are those figures correct?not quite what we were led to believe is it. by the time the spl withhold prize money for hearts it won't be far off tbk offer. Quote Link to post Share on other sites More sharing options...
LeeWallaceRFC 3,920 Posted May 21, 2012 Share Posted May 21, 2012 not quite what we were led to believe is it. by the time the spl withhold prize money for hearts it won't be far off tbk offer.And people think it will be accepted? Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 21, 2012 Share Posted May 21, 2012 I think green is another boiler room stoker. hard not to come to that conclusion. Quote Link to post Share on other sites More sharing options...
bazza010 391 Posted May 21, 2012 Share Posted May 21, 2012 newco it is then!.... Quote Link to post Share on other sites More sharing options...
krissg910 110 Posted May 21, 2012 Share Posted May 21, 2012 the article also forgets to mention the 3.5mil owed to rangers that green said will go into the cva.i doubt we owe d&p 6mil as that was the estimated bill if they were still in charge in august. 3mill would be my guess. which should leave 5.5 + 3.5 in the cva pot.if im correct then 9mil has a very good chance of getting accepted. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 21, 2012 Share Posted May 21, 2012 And people think it will be accepted? oh I still think its doable. if only I though green wants a cva. Quote Link to post Share on other sites More sharing options...
ray 105 Posted May 21, 2012 Share Posted May 21, 2012 hard not to come to that conclusion. Is there any other possible conclusion to come to, my bet is we will still be in admin at the start of the season, no bad thing considering the alternatives on offer. Quote Link to post Share on other sites More sharing options...
Broxi 11,433 Posted May 21, 2012 Share Posted May 21, 2012 And people think it will be accepted? It's either that or nothing. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 21, 2012 Share Posted May 21, 2012 the article also forgets to mention the 3.5mil owed to rangers that green said will go into the cva.i doubt we owe d&p 6mil as that was the estimated bill if they were still in charge in august. 3mill would be my guess. which should leave 5.5 + 3.5 in the cva pot.if im correct then 9mil has a very good chance of getting accepted.take a million off the money we are owed as that will be withheld by the spl to pay hearts etc. Quote Link to post Share on other sites More sharing options...
LeeWallaceRFC 3,920 Posted May 21, 2012 Share Posted May 21, 2012 the article also forgets to mention the 3.5mil owed to rangers that green said will go into the cva.i doubt we owe d&p 6mil as that was the estimated bill if they were still in charge in august. 3mill would be my guess. which should leave 5.5 + 3.5 in the cva pot.if im correct then 9mil has a very good chance of getting accepted.No, I said:£8.5million - D&P = £6million i.e. They're owed around £2.5million if not more by the time they're done. Quote Link to post Share on other sites More sharing options...
adam2102 567 Posted May 21, 2012 Share Posted May 21, 2012 CVA delayed?BETTER DRINK MY OWN PISS Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 21, 2012 Share Posted May 21, 2012 "Mr Whyte’s position as floating charge holder over the club could also result in him staking a claim to part of the money as a secured creditor,"The very thing i raised the other day. you also said the cva was worth 15 million. Quote Link to post Share on other sites More sharing options...
LeeWallaceRFC 3,920 Posted May 21, 2012 Share Posted May 21, 2012 It's either that or nothing.They'd prefer nothing.They want to make an example of us (HMRC) & said that they will accept nothing less than 20% of what they believe they're owed, what that is ... your guess is as good as mine. £50million? 70million? £140million? Who knows. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 21, 2012 Share Posted May 21, 2012 Is there any other possible conclusion to come to, my bet is we will still be in admin at the start of the season, no bad thing considering the alternatives on offer.I spoke to someone who knows a smillie well and I said d day for a cva is close or even passed. his response was only too avoid a ten point deduction for next season. there is no cut off point in reality. Quote Link to post Share on other sites More sharing options...
krissg910 110 Posted May 21, 2012 Share Posted May 21, 2012 take a million off the money we are owed as that will be withheld by the spl to pay hearts etc.8mil after d&p are paid is the best offer the creditors are ever likely to get, so if it doesnt get accepted there was never going to be any other way than a newco route. Quote Link to post Share on other sites More sharing options...
caseyjones 3,009 Posted May 21, 2012 Author Share Posted May 21, 2012 the haven't delayed anything. in an interview last week they stated the letters would be getting sent out next friday(25th may).cant remember the article to post a link but i am 100% certain on this Administrator David Whitehouse said: "Yesterday we accepted an unconditional offer for sale of club to consortium fronted by Charles Green.It's a binding contract, not preferred bidder status. "This consortium will pay £8.5 million to creditor pool on agreement of the CVA.That sum will be supplemented with the proceeds of litigtauon and the second is the received fees due for the sale of Nikica Jelavic.In total that's the contribution put forward to creditors.By some considerable margin that's the best deal we can put to creditors. "The CVA will go out on 21st of May. The headline detail has been discussed with major creditors and it's been agreed to move to a creditors meeting.There is a backdrop strategy that in the unlikely event  that it's not accepted we will go to a newco situation akin to the Bill Miller strategy.We have clarity in terms of a timetable to CVA, how it's funded and then a strategy in the event the CVA is not accepted."From the May 13 press conference. Quote Link to post Share on other sites More sharing options...
theiconicman 2,947 Posted May 21, 2012 Share Posted May 21, 2012 Well the absolute worse case of liquidation is raising £4m from Murray Park/ Ibrox, nothing else has value as the players contracts are terminated.From this £4m you still need to remove D&P fees as well as secured creditors, so liquidation pays zilch to unsecured creditors. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted May 21, 2012 Share Posted May 21, 2012 8mil after d&p are paid is the best offer the creditors are ever likely to get, so if it doesnt get accepted there was never going to be any other way than a newco route.not necessarily true. some people are better at negotiating than others. your not dealing with a computer. I still say tbk would have got a cva and as such so should green. Quote Link to post Share on other sites More sharing options...
chris182 6,186 Posted May 21, 2012 Share Posted May 21, 2012 Bloody hell the world is gonnae end Get a grip Quote Link to post Share on other sites More sharing options...
krissg910 110 Posted May 21, 2012 Share Posted May 21, 2012 From the May 13 press conference.yeah i know this day was mooted but last thurs/fri they said it would be around fr 25th they were sent out. no like d&p to be behind on deadlines anyway is it Quote Link to post Share on other sites More sharing options...
caseyjones 3,009 Posted May 21, 2012 Author Share Posted May 21, 2012 the article also forgets to mention the 3.5mil owed to rangers that green said will go into the cva.i doubt we owe d&p 6mil as that was the estimated bill if they were still in charge in august. 3mill would be my guess. which should leave 5.5 + 3.5 in the cva pot.if im correct then 9mil has a very good chance of getting accepted.There is a court case to determine where that £3.5m will end up. You also failed to deduct the amounts for all the secured creditors. Quote Link to post Share on other sites More sharing options...
krissg910 110 Posted May 21, 2012 Share Posted May 21, 2012 There is a court case to determine where that £3.5m will end up. You also failed to deduct the amounts for all the secured creditors.not the 3.5 from colly/bristow. the money we are still owed by other teams and prize money etc Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.