Blue Forever 179 Posted June 13, 2012 Share Posted June 13, 2012 http://www.heraldsco...rs-bid.17860526Herald Sport understands one of the previous bidders for the club intends to submit a new bid today, while another is considering their options but could also return with an offer that is higher than the price Green has arranged with the club's administrators. A third, new bidder also intends to make a bid, having previously carried out due diligence.All three groups believe the combination of higher purchase offers and the widespread belief among creditors that the £5.5m price undervalues the business and Ibrox, Murray Park and Albion car park, might be enough to pressure Duff & Phelps into backing out of their agreement with Green. The administrators insist that they have a binding contract with the Yorkshireman's consortium, but Herald Sport also understands Green has not yet raised all of the £5.5m, so may be unable to complete the purchase.Green and Paul Clark, of Duff & Phelps, are adamant nothing would prevent their deal being completed following the Company Voluntary Arrangement vote at tomorrow's creditors' meeting. HMRC have indicated they will vote against the CVA proposal, which then prompts Green's deal to buy the business and assets for £5.5m. A creditor can challenge this by claiming the assets are undervalued, but that can be difficult to prove.However, HMRC may apply pressure to Duff & Phelps to accept one of the new, higher offers, particularly if Green has not raised the full finance. Dave King, the Rangers director and the club's second highest shareholder, has also threatened to halt proceedings by seeking an injunction. "There is, in my view, no possibility Green will ever own the club," King said.Herald Sport also understands one of the investors in Green's consortium is Rafat Rizvi, a British citizen who was once on Interpol's wanted list after being accused of stealing assets from Indonesia's Bank Century two years ago, a charge which he denied. Herald Sport believes that Rizvi is investing £2m in Green's Sevco consortium, with Mike McDonald, the former Sheffield United chairman, investing a further £2m. A third investor had agreed to put in £4m, but pulled out last weekend.The Blue Knights, Bill Ng's Singapore consortium and a UK group all lodged bids before Duff & Phelps chose Green's offer. Quote Link to post Share on other sites More sharing options...
Ferdasyn 431 Posted June 13, 2012 Share Posted June 13, 2012 The plot thickens. Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted June 13, 2012 Share Posted June 13, 2012 A-ha, TBK's move begins Quote Link to post Share on other sites More sharing options...
islandblue 366 Posted June 13, 2012 Share Posted June 13, 2012 Part of TBK plan all along to wait for Liquuidation Quote Link to post Share on other sites More sharing options...
disgruntled_bear 157 Posted June 13, 2012 Share Posted June 13, 2012 .... And round 2 begins. Or is it 3,4,5,6.... I've lost count. Quote Link to post Share on other sites More sharing options...
MrT 173 Posted June 13, 2012 Share Posted June 13, 2012 I dont have a clue what is going on....I would love TBK to come to our rescue but I just cant see all this happening we are clutching at straws now. Quote Link to post Share on other sites More sharing options...
GeneralCartmanLee 313 Posted June 13, 2012 Share Posted June 13, 2012 What a load of shite, the empty vessels making noise again. Looking forward to the deal being signed and sealed tomorrow to put an end to this. Quote Link to post Share on other sites More sharing options...
GeneralCartmanLee 313 Posted June 13, 2012 Share Posted June 13, 2012 I dont have a clue what is going on....I would love TBK to come to our rescue but I just cant see all this happening we are clutching at straws now.The point of rescuing us is past,, tbk's refused to spend any of there vast fortunes to save us.....rangers fans my arse. Quote Link to post Share on other sites More sharing options...
WilliamMunny 3,275 Posted June 13, 2012 Share Posted June 13, 2012 I just want to get on with it now Quote Link to post Share on other sites More sharing options...
bazza010 393 Posted June 13, 2012 Share Posted June 13, 2012 duff and phelps already have a contract with green so bullshit! Quote Link to post Share on other sites More sharing options...
Edmiston Drive 3,846 Posted June 13, 2012 Share Posted June 13, 2012 tbk have no chance whatsoever..............after all we are banned now for 3 years from Europe and that QF money will not be there Quote Link to post Share on other sites More sharing options...
The Godfather 72,575 Posted June 13, 2012 Share Posted June 13, 2012 TBK were not interested in a newco Rangers unless they were telling fibs? Quote Link to post Share on other sites More sharing options...
Ferdasyn 431 Posted June 13, 2012 Share Posted June 13, 2012 TBK can piss off. Stop wasting everyone's time. Quote Link to post Share on other sites More sharing options...
54andcounting 627 Posted June 13, 2012 Share Posted June 13, 2012 Here we go again, another 48h!!! Quote Link to post Share on other sites More sharing options...
mafia32 93 Posted June 13, 2012 Share Posted June 13, 2012 everytime i see TBK mentioned i immediately expect to see gunslinger crop up, wheres he hiding?back on topic i just hope this sorry saga ends asap so we can get back to the football Quote Link to post Share on other sites More sharing options...
Turnberry18 3,204 Posted June 13, 2012 Share Posted June 13, 2012 everytime i see TBK mentioned i immediately expect to see gunslinger crop up, wheres he hiding?back on topic i just hope this sorry saga ends asap so we can get back to the footballHe's been banned as far as I know. I believe he upset some people. Quote Link to post Share on other sites More sharing options...
mafia32 93 Posted June 13, 2012 Share Posted June 13, 2012 cheers Turnberry i had wondered Quote Link to post Share on other sites More sharing options...
BlueMe 25,327 Posted June 13, 2012 Share Posted June 13, 2012 The point of rescuing us is past,, tbk's refused to spend any of there vast fortunes to save us.....rangers fans my arse.what's your view on SDM again?....rangers fan my arse. Quote Link to post Share on other sites More sharing options...
Frankie 505 Posted June 13, 2012 Share Posted June 13, 2012 I'm not so sure TBK will be making another bid but there does remain interest from others.The problem is the agreement may well be binding so it may come down to whether or not Green has the full £5.5million. As of yesterday he hadn't provided D&P with this cash.The rumoured involvement of Rafat Rizvi is rather worrying as well so it's up to Green to put our minds at ease tomorrow when he promised details of his investors. Quote Link to post Share on other sites More sharing options...
docspiderman 1,255 Posted June 13, 2012 Share Posted June 13, 2012 I guess TBK will want to use the money Green has lodged already and pretend it is their investment and promise they will pay the rest with european money 5 years down the line again.Time wasting shysters! Quote Link to post Share on other sites More sharing options...
ger50champ 300 Posted June 13, 2012 Share Posted June 13, 2012 Think we are all forgetting and D@P are in a position they wanted to be in and do not see any change even if a lottery winner came forward with 20mill for the pot .Im afraid it's non starter Quote Link to post Share on other sites More sharing options...
bilko89 507 Posted June 13, 2012 Share Posted June 13, 2012 Quote Link to post Share on other sites More sharing options...
ger50champ 300 Posted June 13, 2012 Share Posted June 13, 2012 He's been banned as far as I know. I believe he upset some people.A bear gets banned but the taigs get on here freely .says it all really Quote Link to post Share on other sites More sharing options...
Super1872 469 Posted June 13, 2012 Share Posted June 13, 2012 Ah, more nonsense. It seems it never ends. This entire article is pure conjecture Herald Sport understands seems to be a license for them to then make alot of unfounded claims and statements, as soon as i see a phrase like this or "a source said" my bulls**t detector goes into overdrive. Quote Link to post Share on other sites More sharing options...
North Rd 2,860 Posted June 13, 2012 Share Posted June 13, 2012 Paul Clark of Duff & Phelps, said: "We're disappointed but we've structured a deal with Charles Green so that if, for whatever reason, a CVA couldn't be concluded, we still had the fall back of a new company and an asset sale which would mean Rangers Football Club would survive and can continue."He also ruled out any late intervention by groups such as the Blue Knights, adding: "Even if they did, we've got a binding agreement."Clark believed that HMRC opposed the CVA because "they feel that because of the company's previous delinquency on its tax payments and their general concerns over EBTs, they felt the monies being offered to them were simply not enough".Rangers are also awaiting the result of "the big tax case" on alleged misuse of EBTs.Clark also detailed what he expected to happen next. "We assume, regardless of what the other creditors' views are, on Thursday, around late morning/ lunchtime, the CVA will be rejected and we think the meeting will now be a very short one," he said."What we'll be seeking to do as soon as possible following that rejection is to finalise and formalise the sale of the business and assets, effectively picking up everything that is currently residing in Rangers plc and moving it to a new company which will then become the corporate shell for the Rangers FC."The whole point is not to allow the football club to do anything other then exist. It's just to change the name over the door if you will."He expected it would take "six to 10 weeks" to liquidate the company and confirmed talks had taken place with the SFA and the SPL "about the implications of a newco". He added: "What we would hope is the SPL will look favourably on the newco's position. The precise terms of how that works I will probably leave to the SPL and Charles Green to comment on going forward."Asked if and when a newco could sign players, Clark said: "It's part of the discussion between what newco looks like and what it negotiates with the football authorities. I don't think it's an automatic ban. We've always said you can divorce the club from the corporate shell it sits in."The football club will be intact. That's what had the penalties and embargos imposed upon it therefore, I think Charles Green and the football club will need to look at the entity that was given the punishment and decide how that looks going forward."He had no information on when the big tax case would be decided. "I don't think it would have made any difference had we known about it or not," he said. "We would have known whether HMRC were nearer £20m or £100m in creditor claims but they've made it clear that had no influence on their decision." 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.