54andcounting 627 Posted June 14, 2012 Share Posted June 14, 2012 Chris McLaughlin,BBC Sport"Administrators Duff & Phelp say administration will last another 8-10 weeks. #Rangers" Eh!!!! Quote Link to post Share on other sites More sharing options...
j1mgg 3,766 Posted June 14, 2012 Share Posted June 14, 2012 I dont know who they are expecting to pay for that if there is now money. Quote Link to post Share on other sites More sharing options...
Pontius Pilate 21 Posted June 14, 2012 Share Posted June 14, 2012 If the assets were sold to Green today, then the oldco being in administration is pretty much irrelevant. Quote Link to post Share on other sites More sharing options...
54andcounting 627 Posted June 14, 2012 Author Share Posted June 14, 2012 If the assets were sold to Green today, then the oldco being in administration is pretty much irrelevant.But it has been liquidated, so can't be in administration. Quote Link to post Share on other sites More sharing options...
Pontius Pilate 21 Posted June 14, 2012 Share Posted June 14, 2012 It hasn't been liquidated yet. Quote Link to post Share on other sites More sharing options...
pansypotterthedirtyrotter 7 Posted June 14, 2012 Share Posted June 14, 2012 But it has been liquidated, so can't be in administration. Not yet it hasn't Quote Link to post Share on other sites More sharing options...
Blue and True 311 Posted June 14, 2012 Share Posted June 14, 2012 I assume they mean the oldcoThe football club has been (or will be shortly) transferred to the new co.I hope Quote Link to post Share on other sites More sharing options...
FUDGIE52 9 Posted June 14, 2012 Share Posted June 14, 2012 Obviously there will be alot of legal work still to be done, and I also think the BDO will now come in and assist in setting up the newco. Lets hope both the admin and the BDO make sure that what has happened can never happen again, that the Green consortium are the right people for us, things have to be done right from now on. Quote Link to post Share on other sites More sharing options...
Douglas Cameron 179 Posted June 14, 2012 Share Posted June 14, 2012 The newco is nothing to do with BDO. They come in and will be chasing the legal actions that have already been started. They will also be going after owners/directors personally. Wrongful trading etc... They have a lot of powers and if I was a former director I would be very very worried. They essentially try to get the creditors of oldco any more money possible. They will be the ones who fully expose the criminality that has occurred. By the time they are finished a revisionist opinion will form and it will be accepted generally in Scotland that we have been badly wronged by the corporate misgovenance of previous owners/boards. Quote Link to post Share on other sites More sharing options...
IainB 599 Posted June 14, 2012 Share Posted June 14, 2012 Newco 'The Rangers Football Club' will be set up this afternoon apparently. Administrators will be there for the final winding up of Rangers Football Club PLC. One other thing just hit me Murray no longer has any shares in our club a nice side effect of going the newco route not that it was ever my preferance. Quote Link to post Share on other sites More sharing options...
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