CVA Statement & Link to Proposal

[ray 105]

Fuck me greens investment is a loan ? paid back over 8 years. Time for the fans to put their own bid in cash up front on the table, did we try that ?

[CanadianBacon 2,088]

Paying off our debt, with another debt.

Brilliant stuff there!

Reminds me a bit of a guy we once knew who used club money to buy a club

Hope this all gets sorted out though, and would much rather be paying around £1million back a year than all this hypothetical - who the fuck knows - value of debt we have hanging over us.

Sadly it is this man (Green) who was the only one to put up an amount of money (borrowed or not) which was acceptable to D&P. Mini and his crew had several chances to be the preferred bidder but didn't get anywhere near Green's amount.....borrowed, begged or stolen.

If Green's plan works, he saves us and in 2020 he walks away with a nice little earner in his back pocket - 'good luck' to him I say. (Shades of 'The Bunnett')

At the 11th hour, where were all these so-called millionaire Rangers fans?

[GeneralCartmanLee 313]

If accepted we come out of administration on the 12th July.....

[krissg910 110]

pretty clear that the only wy u will recieve any money is by accepting the cva.

so its all about whether hmrc and ticketus have a agenda against us for getting into debt or not.

imo it should be accepted, however who knows what they feel towards our club

[john meikle 3]

Fuck me greens investment is a loan ? paid back over 8 years. Time for the fans to put their own bid in cash up front on the table, did we try that ?

This is twistin my melon man..............

Somebody needs to straighten me out here. Greens investmen tis a loan, paid back by 2020 right?

Ticketus money was a loan, used to cover the bank loan, and paid back by a percentage of the seaon ticket sales.

What was up with that then? Couldn'y we have just payed them back instead of all the mentalness?

[Marco Negri's Beard 1,423]

Sadly it is this man (Green) who was the only one to put up an amount of money (borrowed or not) which was acceptable to D&P. Mini and his crew had several chances to be the preferred bidder but didn't get anywhere near Green's amount.....borrowed, begged or stolen.

If Green's plan works, he saves us and in 2020 he walks away with a nice little earner in his back pocket - 'good luck' to him I say. (Shades of 'The Bunnett')

At the 11th hour, where were all these so-called millionaire Rangers fans?

Exactly. Needs-must really

You can virtually hear the collective wanking in the STV offices as all their journos (Raman, Grant, Andy, the whole team!) tear it apart with their smug and sarcastic tweets

[JCDBigBear 10,864]

I can understand Green making it a loan. At least he may save the Club. Payback over 8 years isn't too bad and interest rates are low (depending on what rate is against the loan though) and we need to remember it isn't all his money. It is a consortium of investors and they will want a profit. If Whyte had done that the situation would have been different but that lying cretin didn't have the money to start with. I think the D & P claims and legal costs are ridiculous but these people always charge a fortune. I once worked for a reasonable sized company who had cash flow problems and the bank wouldn't lend any more money. The company went into administration then liquidation. When all the dust settled the final accounts showed the company was actually solvent when it closed, assets were significantly greater than liabilities, but after the accountants and lawyers were paid we all got 12 pence in the pound!!!

[stampyurie 203]

So in diddy terms what is the pence in the pound for the cva

[RICHY1775 32]

So the bottom line is that as long as the big tax case is in our favour all creditors will get 8.96 pence in the pound.

For example Bhutta's Newsagents who are owed £567 will receive £49.10.

Better than nothing I suppose.

Am I correct in saying then that if the big tax case returns with the worst case scenario of say £75m, Mr Bhutta would only receive £20.41 ?

Bit of a no brainer when it comes to the CVA vote, cause he knows he won't get a penny if the vote dosent go through and he knows he can count on us for future business accounts when this is all cleared up.

[krissg910 110]

This is twistin my melon man..............

Somebody needs to straighten me out here. Greens investmen tis a loan, paid back by 2020 right?

Ticketus money was a loan, used to cover the bank loan, and paid back by a percentage of the seaon ticket sales.

What was up with that then? Couldn'y we have just payed them back instead of all the mentalness?

green is not borrowing money against rangers to buy rangers.

he is using his own funds as a loan to help the club out its position. he is buying the club for £2 from c whyte im sure he doesnt need a loan for that.

what he is doing makes perfect sense when you are doing this for profit, not kindness, he is in this too make money not because he loves rangers(which is perfectly fine with me).

he may have borrowed the 8.5mil from somewhere but he has not used rangers to borrow it

[JCDBigBear 10,864]

This is twistin my melon man..............

Somebody needs to straighten me out here. Greens investmen tis a loan, paid back by 2020 right?

Ticketus money was a loan, used to cover the bank loan, and paid back by a percentage of the seaon ticket sales.

What was up with that then? Couldn'y we have just payed them back instead of all the mentalness?

Whyte borrowed £27m and the repayment terms to Ticketus meant paying back significant sums plus interest over a shorter period. Green is not borrowing the money as such, he is getting a group of investors to put in say £1m each for payback by 2020 plus interest. The interest rate will be the very interesting part.

[T_Cradle85 3]

Sadly it is this man (Green) who was the only one to put up an amount of money (borrowed or not) which was acceptable to D&P. Mini and his crew had several chances to be the preferred bidder but didn't get anywhere near Green's amount.....borrowed, begged or stolen.

If Green's plan works, he saves us and in 2020 he walks away with a nice little earner in his back pocket - 'good luck' to him I say. (Shades of 'The Bunnett')

At the 11th hour, where were all these so-called millionaire Rangers fans?

I know man.

I hate the idea that we are going to still be in debt, it's a loan, and someone is going to make money out of our bad situation. But hey, if it all works out, all legal, and we are safe and back on track then happy days all around.

Paint me sceptical of late though.

The man is doing some work to keep us going. That's the main thing.

[JCDBigBear 10,864]

So the bottom line is that as long as the big tax case is in our favour all creditors will get 8.96 pence in the pound.

For example Bhutta's Newsagents who are owed £567 will receive £49.10.

Better than nothing I suppose.

Am I correct in saying then that if the big tax case returns with the worst case scenario of say £75m, Mr Bhutta would only receive £20.41 ?

Bit of a no brainer when it comes to the CVA vote, cause he knows he won't get a penny if the vote dosent go through and he knows he can count on us for future business accounts when this is all cleared up.

I would like to see the small guys getting paid from any surplus left in the RFFF account. As someone else noted, the creditors list hasn't been altered despite some debts having been settled. For example, Glencairn Crystal were paid, so was the face painter. Was Dunfermline FC not paid by the RFFF? What about Dundee Utd, do they not get the money from the SPL directly from what Gers would have received and all other Scottish Club debts the same?

[john meikle 3]

Whyte borrowed £27m and the repayment terms to Ticketus meant paying back significant sums plus interest over a shorter period. Green is not borrowing the money as such, he is getting a group of investors to put in say £1m each for payback by 2020 plus interest. The interest rate will be the very interesting part.

Cheers for the answer mate

[Marco Negri's Beard 1,423]

I would like to see the small guys getting paid from any surplus left in the RFFF account. As someone else noted, the creditors list hasn't been altered despite some debts having been settled. For example, Glencairn Crystal were paid, so was the face painter. Was Dunfermline FC not paid by the RFFF? What about Dundee Utd, do they not get the money from the SPL directly from what Gers would have received and all other Scottish Club debts the same?

Said this at the time. Have to watch out for certain small creditors getting paid and then happening to not say anything more...A little concerning seeing people who have been paid still on the list

[Marco Negri's Beard 1,423]

I know man.

I hate the idea that we are going to still be in debt, it's a loan, and someone is going to make money out of our bad situation. But hey, if it all works out, all legal, and we are safe and back on track then happy days all around.

Paint me sceptical of late though.

The man is doing some work to keep us going. That's the main thing.

This is it. You'd love to be debt free but frankly, how many football clubs in the world are debt-free? Not to many I would think.

A successful CVA takes our tens of millions of pounds of debt down to 8.5m. That is a very successful outcome. We can but dream

[krissg910 110]

Said this at the time. Have to watch out for certain small creditors getting paid and then happening to not say anything more...A little concerning seeing people who have been paid still on the list

i think the admin will know who has been paid, the list wont have been altered as it would have ment altering all financials already produced by d&p so far, consuming too much time and delaying the proposal even longer.

atleast i hope this is the reason

[Marco Negri's Beard 1,423]

i think the admin will know who has been paid, the list wont have been altered as it would have ment altering all financials already produced by d&p so far, consuming too much time and delaying the proposal even longer.

atleast i hope this is the reason

Hmm, I dunno, I guess that could be the case. They are getting paid a shedload though, doesn't seem like it would be too difficult to do. Don't they have people working with them?

[krissg910 110]

So the bottom line is that as long as the big tax case is in our favour all creditors will get 8.96 pence in the pound.

For example Bhutta's Newsagents who are owed £567 will receive £49.10.

Better than nothing I suppose.

Am I correct in saying then that if the big tax case returns with the worst case scenario of say £75m, Mr Bhutta would only receive £20.41 ?

Bit of a no brainer when it comes to the CVA vote, cause he knows he won't get a penny if the vote dosent go through and he knows he can count on us for future business accounts when this is all cleared up.

seville calculator lmao.

it will be about 10p in the pound best case, and 5p worst case.

however cva is the only way creditors will get anything.

shame for smalls businesses but they dont even have a say on this proposal in reality. hmrc and ticketus make up 78%(rough calc) of the money owed

[sj1972 4]

Is this right, if the cva is accepted and the cool off period is ran then the official date rangers exit administration is 12th july

[Frankie 505]

Why aren't Close and Scottish Sport mentioned as secured creditors here?

[krissg910 110]

Hmm, I dunno, I guess that could be the case. They are getting paid a shedload though, doesn't seem like it would be too difficult to do. Don't they have people working with them?

yeah they have a staff of atleast 6. maybe more. and can call in as many ppl(inc specialist) that they need.

[FlippinEck 3,736]

Just how much of the £8.5Million are D+P taking? Surely thats a big hit?

[RICHY1775 32]

Why aren't Close and Scottish Sport mentioned as secured creditors here?

This isn't a creditors list!

It's a list of the assets and money that is coming or due into the club.

[stampyurie 203]

Just how much of the £8.5Million are D+P taking? Surely thats a big hit?

Last i seen something regardin there fees think there due 2.8mil at end off admin.