SkylineBlue 23,372 Posted June 13, 2012 Share Posted June 13, 2012 If a business is liquidated, are its assets not sold to pay creditors? I was pretty confident that this was the case with businesses. I may be wrong. If so, surely there is no guarantees we will keep ibrox etc. Quote Link to post Share on other sites More sharing options...
8watp8 254 Posted June 13, 2012 Share Posted June 13, 2012 i would have thought that too but if that was the case then hmrc would demand rangers sell their assets (of a reported over 100 million) to pay them. however i dont think it can be done, dont know why but we will be keeping our assets and company. our club and history live on just the company goes under Quote Link to post Share on other sites More sharing options...
Clemdog 39,389 Posted June 13, 2012 Share Posted June 13, 2012 They are, are they not?Charles Green is buying them. Quote Link to post Share on other sites More sharing options...
adam2102 577 Posted June 13, 2012 Share Posted June 13, 2012 the assets are being sold for 5.5million to a newco owned by charles green. only are players/stadia sold when there is no buyer - or at least thats how i read it Quote Link to post Share on other sites More sharing options...
SkylineBlue 23,372 Posted June 13, 2012 Author Share Posted June 13, 2012 I was aware that green is attempting to buy them for 5.5 mil. But to me it doesn't make sense. Surely all creditors would be paid off through repossession before someone (who is owed nothing) could buy them. I just don't see how HMRC are getting nothing but are allowing 5.5 mil, which could go to them, to be bought by green unchallenged. Quote Link to post Share on other sites More sharing options...
ray 105 Posted June 13, 2012 Share Posted June 13, 2012 I was aware that green is attempting to buy them for 5.5 mil. But to me it doesn't make sense. Surely all creditors would be paid off through repossession before someone (who is owed nothing) could buy them. I just don't see how HMRC are getting nothing but are allowing 5.5 mil, which could go to them, to be bought by green unchallenged.hmrc are unsecured whytey isn't Quote Link to post Share on other sites More sharing options...
GLASGOWRFC 101 Posted June 13, 2012 Share Posted June 13, 2012 When i read the thread title i though you had acne or summat! Quote Link to post Share on other sites More sharing options...
ForeverBlue_Since91 2,895 Posted June 13, 2012 Share Posted June 13, 2012 If a business is liquidated, are its assets not sold to pay creditors? I was pretty confident that this was the case with businesses. I may be wrong. If so, surely there is no guarantees we will keep ibrox etc.Thats what Charles Green is buying. Quote Link to post Share on other sites More sharing options...
Rfc#1. 1,877 Posted June 13, 2012 Share Posted June 13, 2012 Yeah an if it was repossessed do u think someone's goin to give 100 mill for ibrox an training facility. Greens buying it for 5.5 mill cos he's the only show in town. It's a done deal as far as am led to believe. Quote Link to post Share on other sites More sharing options...
SkylineBlue 23,372 Posted June 13, 2012 Author Share Posted June 13, 2012 When i read the thread title i though you had acne or summat! Haha Belter!Im just not confident that it's as straight forward as this. It seems too simple. Hopefully I'm wrong. Quote Link to post Share on other sites More sharing options...
Bluepeter9 5,167 Posted June 13, 2012 Share Posted June 13, 2012 assets need to be sold for a fair value - at the moment if someone came in and offered say 6m for ibrox and 2 mil for achenhowie then green is fked - that's why the need for speed ! but who is prepared to anti up more than 5.5 m !!? Quote Link to post Share on other sites More sharing options...
thebooler 4,509 Posted June 13, 2012 Share Posted June 13, 2012 assets need to be sold for a fair value - at the moment if someone came in and offered say 6m for ibrox and 2 mil for achenhowie then green is fked - that's why the need for speed ! but who is prepared to anti up more than 5.5 m !!?Can you clarify this mate?Whoever buys Ibrox, Auchenhowie, and the Albion (ie Rangers FC) does this mean they own the lot debt free?I think we may see a couple more bids being made if this is the case. Quote Link to post Share on other sites More sharing options...
ray 105 Posted June 13, 2012 Share Posted June 13, 2012 Joint-administrator Paul Clark says they would not be obliged to consider, or accept, any larger bids for Rangers from other interested parties at this stage, and he told Rangers' official website: "No, we wouldn't. It is a done deal, it's a contractual arrangement."He added: "We had a two-stage arrangement with Charles Green. There was the CVA in place. If for whatever reason that CVA couldn't be concluded, then the sale of the business and assets agreement would be concluded so it's a done deal." Quote Link to post Share on other sites More sharing options...
Calgacus 88 Posted June 13, 2012 Share Posted June 13, 2012 It's the Limited Company that is being liquidated, not the business. The business which includes the assets like Ibrox, the Car Park and the Training Ground that is being sold to Green. The business will continue under a new company. Happens all the time in the real world. Quote Link to post Share on other sites More sharing options...
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