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CQN Magazine L-I-Q-U-I-D-A-T-I-O-N issue out now!

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We have another great issue of CQN Magazine for you, free of charge to read online – there’s not even any tax to pay!  Hard copies will be available soon. Click here to go to the magazine site for a proper read. The graphic below is only there to allow you to flick through it.

The magazine is packed full of fantastic articles from Celtic supporters from near and far.  We have coverage of our title winning season, tales of supporting the team from disparate locations as well as some great recollections and tales of following Celtic in years gone by.

Slovenian football journalist fan Blaz Mocnik speaks of his delight at learning he wasn’t the only Celtic fan in his village, the infectious enthusiasm of the Good Child Foundation has brought the club to a new followers, and there is a great reference article on money in the SPL.

As always, tons of work went into pulling the magazine together. Many thanks to James, David, Thom and all the readers who submitted an article (some of which have slipped to the next issue).

We like to give each magazine a title, this one, with a special dedication to Pablo, is the L-I-Q-U-I-D-A-T-I-O-N issue!  Enjoy.

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  1. Just to clarify.

     

     

    Any attempt to shaft Ticketus will end up in court.

     

    Any attempt to shaft Whyte will end up in court.

     

    rangers in court October against Collyer Bristow.

     

    Ellis taking Whyte to court for 25% stake in rangers.

     

    Hector is definitely going to court to get his money from rangers.

     

     

    Football wise,

     

     

    rangers face two contract investigation.

     

     

    They will be banned from Europe for 3 years possibly 4, as UEFA may deem the late submission of accounts and Newco as two seperate events.

     

     

    They face a 12 month transfer embargo.

     

     

    They face possible SPL sanctions next season.

  2. Are they dead yet? Will we have to suffer a Newco in the SPL? Why can’t they just die and let me get back to doing some work? Typical Huns not worried about the greater good.

  3. Lol, I missed this bit at the end. (copied from kds)

     

     

    Interestingly the BBC stream stayed online there for few mins after presser

     

     

    Reporter standing outside Ibrox prepping for BBC News interview

     

     

    He asks his people, “What did all that mean then?” before being ready to answer news channel questions

     

     

    One of his team responds – “It’s bye-bye Rangers 1872, that’s finished. HMRC get nothing.”

     

     

    Exact quote that – flatly contradicting what they’d all just been told by Duff and Duffer

     

     

    Then someone at Beeb realised they were broadcasting their off-camera chatter to the internet and pulled plug.

  4. Somebody yesterday posted a link to the Sheffield Wednesday’s site and they had plenty of info re. The Tennessee Born Billionaire with off-the-radar wealth. It was illuminating.

     

    I’ll say it again,Bill Miller is to Craig Whyte as Don Corleone is to Snow Whyte.

     

    Der hun will go mental as the implications of this asset-stripping vulture capitalist ‘riding to the rescue’ sink in.

     

    What,in the name of god,are Duff & Duffer playing at? Not that I really give a toss…but this is the weirdest administration you could imagine.

  5. The Honest Mistake loves being first on

    THE EXILED TIM on 3 May, 2012 at 12:35 said:

     

     

    Rules?

     

    There’s three sets of rules. One for rangers (the old firm), one for everybody else including Celtic and another set for Neil Lennon.

     

    Lets see what the SFA and SPL say this afternoon. I’m betting Scottish football is finished.

  6. DontPatmadug @ 12:34,

     

    ”@alextomo – waiting for D&P finest to come on at Ibrox and talk to media – inc me”

     

    Lets see

     

    Mr Miller is buying the assets of RFC 1873, but it’s not an asset sale.

     

     

    Mr Miler is continuing negotiations with the SPL/SFA to ensure his conditions of no sanctions can be facilitated, but it’s an unconditional bid.

     

     

    RFC 1873 will not be liquidated or “wound-up” but has no chance of securing a CVA.

     

     

    Don’t think they will be answering any of AT’s questions?

  7. The Pantaloon Duck on

    StevieS on 3 May, 2012 at 12:35 said:

     

     

    Could take days, could take years. Probably the latter. This will not be a “normal” liquidation…

  8. jude2005 is Neil Lennon \o/ on

    What a bootifool day to sipp some li£uidation!!

     

     

    HaiL HaiL

  9. traditionalist88 on

    Algarvian

     

     

    Someone has to get that on FF and RM etc.

     

     

    Wonder if that will be the official BBC line :D

     

     

    Bye Bye Rangers 1872..

     

     

    HH

  10. Murdo McLeod on Talkcrap saying the SFA sanctions are ridiculous and should be overturned and they should be kept in SPL.

  11. South Of Tunis on

    Went to the bank with my little check book

     

     

    The cashier he gave me the strangest look

     

     

    He said you ain’t got no money cause your overdrawn

     

     

    Your man took it all and he’s done gone

     

     

    The Judds – Have Mercy .

     

     

    One day nearer moral decision day for –

     

     

    Celtic supporters.

     

     

    The Celtic Board .

     

     

    Supporters of other Scottish clubs .

     

     

    The Boards of other Scottish clubs..

     

     

    You gonna support a decision to allow Newco Hun to play in the SPL ?

  12. jude2005 is Neil Lennon \o/ on

    Now that Neil Lennon (MOTY) has apoligised for his spat with the ref. Can Neil expect the same from Murray & Brines who conspired to send our manager off at Ibroke?? I wont hold my breath and neether should Neil!!

  13. You can fool a bare all of the time…

     

     

    “We are delighted to announce that today we have received an unconditional bid for the business and assets of Rangers Football Club plc from Mr Bill Miller which has been accepted and he is now the preferred bidder. Mr Miller now proposes to complete his transaction by the end of the season.

     

     

    “After many weeks of negotiation and deliberation we believe that the structure of the bid from Mr Miller provides not only the most deliverable outcome but preserves the history of the club. Rangers Football Club will continue as the football club it has been for 140 years.

     

     

    “Furthermore, Mr Miller and his team have sought clarity in relation to potential footballing sanctions and the place of Rangers Football Club plc within the Scottish Premier League. Significant progress has been made and discussions will continue throughout the period which Mr Miller now enjoys as preferred bidder.

     

     

    “Very importantly, the bid also avoids the need for liquidation. All too often the term liquidation has been bandied about during the process without a clear understanding of what it actually means.

     

     

    “Liquidation means selling off the assets of a business individually to raise cash and therefore bringing about the closure or winding up of that business. This has never been on the table from any party in any form. There is no liquidation involved in this strategy and we cannot stress that strongly enough.

     

     

    “As we stated at the outset, one of the prime objectives of the administration was to achieve a CVA which would deliver a return to creditors. Mr Miller’s bid meets this criteria.

     

     

    “In recent weeks there has been much debate about Rangers exiting from administration through a stand-alone CVA. However, the barriers to a proposed stand-alone CVA are now too high.

     

     

    “These barriers include, in particular, the absence of any bidder proposing unconditionally sufficient funds to enable a stand-alone CVA to take place.

     

     

    “Crucially a stand-alone CVA would take so long now to effect, the club could not survive in administration.

     

     

    As a consequence, no party has been able to submit an unconditional bid in a stand-alone CVA scenario.

     

     

    “We confirm that discussions with the two final bidding parties for the club included the possibility, as part of the proposals, the formation of a new company in addition to the preservation of the Rangers Football Club plc.

     

     

    “Mr Miller’s proposal involves the use of a specially created newco in addition to the retention of the Rangers Football Club plc. The business and assets he proposes to purchase will be sheltered in a newco and returned to the plc once the plc has been ‘cleaned up’.

     

     

    “He sees this route as a necessity rather than a choice and in our view this is an entirely workable strategy. Indeed to ensure the continuing operation of the club beyond the end of May it is in our view a very compelling strategy.

     

     

    “For the avoidance of any doubt as administrators we can only accept ultimately an unconditional bid – and Mr Miller’s proposal is the only unconditional bid we have received.

     

     

    “The bid submitted by Mr Miller is substantially greater than any other proposal and provides the best return to creditors, a fundamental part of our duties as administrators. Importantly, the structure provides a stable platform through which new investment can be deployed to ensure that the Club thrives again in the future.

     

     

    “The bid from Mr Miller creates the most suitable framework to deal with the issue of the majority shareholding in Rangers Football Club plc.

     

     

    “Mr Miller will be making his own statement in due course and we can confirm that it is envisaged that the sale of the club will be completed by the end of the current season.

     

     

    “We hope fans will now support and appreciate the commitment made by Mr Miller. His approach has been consistent throughout the process and on two occasions he has stepped back from the fray to enable other parties to submit an unconditional bid.”

  14. There is no football creditors rule in Scotland as I understand it – so the debts are just debts. Unsecured creditors are on an equal footing whether they are football clubs or any other type of business.

     

     

    Let’s assume Miller does buy the club. What is he actually buying? In order to own Rangers FC PLC (in administraion) he has to buy at least some of Craig Whyte’s 85% of the shares. And to do so he must either give Whyte money or Whyte gives him the shares for nothing.

     

     

    He can set up a new co in a couple of hours, or buy one off the shelf and change its name to New Rangers Ltd. That company could then bid to buy the assets from Rangers FC PLC (in administraion). And in that case the money goes to the club.

     

     

    If the club has some money it can make an offer to the creditors – a few pence in the pound. If the creditors accept, fine. If they don’t, as we all know would happen, the club would be liquidated.

  15. Kilbowie Kelt on

    The Falcon on 3 May, 2012 at 12:20 said:

     

     

    Fife Today…

     

     

    A week of hate, abuse & threats

     

    Published on Thursday 3 May 2012 11:59

     

    UP until last week, a day in the life of Eric Drysdale did not involve receiving advice on his personal safety from counter terrorism officers.

     

    But all that changed the moment the Raith Rovers director became embroiled in the crazy world of the Old Firm.

     

    _____________________________________

     

    I am going to assume that by ‘ crazy world of the Old Firm’ they mean Celtic & Rangers.

     

    What part of this fiasco has anything to do with Celtic ?

     

    This story EXCLUSIVELY involves Rangers FC ( I-A )

     

     

    How dare they involve Celtic in this squalid story ?

  16. Can Windy pull out or is his bid bidding.Are Whyte’s shares worth nothing now.Are these barstewards going to get off scott free

  17. SFA Statement

     

     

    Scottish FA spokesperson: “We have received formal notification from the Rangers FC administrators, Duff and Phelps, confirming that preferred bidder status has been granted to Bill Miller.

     

     

    “It is our intention to enter into detailed discussions with Mr Miller to clarify his position and to establish his strategy to ensure a sustainable future for the club.

     

     

    “We will make further comment when that process has been completed.”

  18. SPL statement

     

     

    The Scottish Premier League (SPL) notes that preferred bidder status has been granted to Bill Miller.

     

     

    The SPL will now continue discussions with Mr Miller and his team.

     

     

    No further comment will be made at this time.

     

     

    So they’ve already been talking to him. Explains Doncaster’s ranting on Monday night

  19. ArranmoreBhoyLXV11 on

    It says more about people that they WANT to be involved and associated with Rankers..

     

     

    Methinks Miller has yet to do due diligence ..

     

     

    This show will run and run..

     

     

    Ignore the messianic spin fholks..

     

     

    Moreover we’ve a game tonight , and houstons side did not half lie down..

     

     

    HH

     

     

    ignoringthespinCSC

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