Anyone wondering whether or not former football club, Rangers, will be able to agree a CVA with its creditors in the weeks ahead would do well to pay attention to joint administrator, David Whitehouse, of Duff and Phelps.
In his retort to Friday’s press conference by Paul Murray and Brian Kennedy, Whitehouse told Ewan Murray of the Guardian:
“HMRC have made it very clear that they don’t believe in the football creditor rule so it would be contrary to stated policy to accept what the Blue Knights are proposing. Brian Kennedy and his lawyers and advisers are aware of that.”
HMRC conditions for supporting a CVA require debtor companies to “treat all creditors within the same class equally”.
In this instance, HMRC is an unsecured creditor, they therefore require all unsecured creditors to be offered the same deal. Unfortunately for Rangers, the other football clubs they owe money to are also unsecured creditors.
Rangers are in the horns of a dilemma. Pay Hearts, Rapid Vienna, Arsenal, Celtic and others the circa 5p in every £1 they will offer HMRC, which would be unacceptable to domestic and European football authorities, not to mention the clubs, or pay football debts in full, which would ensure that no amount of lobbying last week from the First Minister would be sufficient to force HMRC into accepting a CVA.
It’s not clear why Mr Whitehouse was so open on the hurdles Mr Kennedy’s plan faced but was less forthcoming when Mr Green presented the same plan to the media yesterday. Perhaps he forgot.
You can buy a hard copy of the new issue of CQN Magazine via Magcloud here.
The graphic below is just for a flick through, to read the magazine go here to it’s dedicated site.
261 Comments- Pages:
- «
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- »
Hey lads
My old man is running a supporters bus to Norwich on 22 May. The bus leaves midnight from Castlemilk Sports Centre at midnight 21 – 22. The cost will be £30 for the bus and £15 for the tickets. Due to some cancellations there are six seats left. Anyone who fancies it can email my old man at the below address.
jimforrestcsa@yahoo.co.uk
NOPE,APOLOGIES TO ALL,ESPECIALLY i-PHONE USERS…..
Talk Celtic @TalkCeltic_
“@gkOnTheHuddle: You can watch coverage of the trophy presentation on Celtic TV (for free!) by following the link: http://www.celticfc.tv/presentation”
Link for the presentation…
PAUL67
Can you please delete that link?
Sorry.
This is funny…
Barton returned to Twitter following criticism from former Newcastle player and caretaker manager Shearer.
He posted: “Shearers still on my case… I know I f***** up Alan, thanks for stating the obvious.
“Whilst were both stating the obvious about each other, can I just say for the record what a great player u were. Well better me…
“But I have a better hair (which is not hard), wear well better shirts on TV and have a personality (something u lack).
“P.S. My final point, ur a s*** pundit/manager…
“I really don’t like that p****, in fact I honestly despise him… Goodnight.
“I’d take it off Hansen and @GaryLineker but not from that bell, same fella that stamped on Neil Lennon,then threatened FA if they banned him”
The 25-year-old, who served a term in prison in 2008 for common assault and affray during an incident outside a McDonald’s restaurant in Liverpool, returned to Twitter today in response to former England striker Lineker.
The Match of the Day presenter had tweeted: “Hear @Joey7Barton had a dig at Shearer. Is this an attempt, I wonder, to deflect from the obvious and deserved criticisms coming his way?”
In response, Barton tweeted: “@GaryLineker no deflections here mate. Think the fact about 100m people seen it will see to that. Just don’t like how he gets personal…”
The spat continued today after Lineker tweeted: “@joey7barton Still raging then? Still kicking out? And still, presumably, misunderstood? But only by yourself I suspect.”
Barton appeared to threaten Lineker in response, posting: “@GaryLineker do u wanna go there publicly “Mr Squeaky Clean” ? Think u should have a look in that vast closet of skeltons (sic) before u respond.
“@GaryLineker I know a lot about THAT side to u the people don’t and won’t bat an eye lid at exposing u. So mind ur manners Squeaky…
“@GaryLineker now back under your stone you odious little toad…”
Thought Sammi and Hoops were excellent yesterday. Sammi had a slight dip after getting gang assualted by half of their team but after a breather and a few flicks of his flowing locks was off and running again.
Far more modern/european way of playing with 1 out and out striker and 1 guy running from deep linking up. Sammi is made for that style and unplayable when he’s well up for it!
wonder if Joey Barton follows kyle lafferty on twitter,
now that would be a laugh.
Billy’s Bhoy
I noticed that as well in the last old firm game after Hooper made it 3-0.
“I’d take it off Hansen and @GaryLineker but not from that bell, same fella that stamped on Neil Lennon,then threatened FA if they banned him”
The man has a point.
Yesterday’s operatic YNWA ——- ?
So bad it competes with the Barry Manilow / Cilla Black murderation.
What they really needed at H/T was the wee dug off ‘Britain’s Got Talent’.
All these problems over Greyskull way has prompted me to compose some lyrics…
As he breezed along Edmiston Drive with an independent air
you could hear the Hunz declare
he must be a Billionaire
but it wisnae true, if only they knew
they’d surely have despaired
he just helped himself and fled to Monte Car-lo!!
With his googly eyes and his dodgy ties
he’s really stitched them up
now he’s sold Charles Green a pup
you just couldnae make it up
he conned Ticketus without a fuss
filled his swag bag with the cash
that’s all safely in his bank in Monte Car-lo!
Now all the hunz can do is wail and gnash and wait and see
If HM R & C, fail to act for you and me
but I think we know how this will go
they’re dead, we’ll shout yippee!
and raise a glass to Craigy Whyte in Monte Car-lo!!
I Thang you CSC
:-)
So it would appear that all managers from Rangers (IA) EBT period are now out of work.
Interesting………
LB
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS – Ha!
Good luck trying to get into my gated community. ;)
(thumbsup)
A SON OF DAN 1433
Joey Barton is right in what he says about Sheare-absolutely clueless as a pundit.
And as a manager.
And when he played for his “beloved” Newcastle United,many of their fans saw through him.The team,the club,only existed for him as far as he was concerned.
His reaction to the Neil Lennon charge suggests that the national team was the same in his eyes.
Lineker? Allegedly far from a saint,as his advice to his brother-in-law Will Carling suggests. People in glass houses shouldn’t take baths.
Barton? Smashing,committed player,but he needs a long course in a..ehole avoidance therapy.
Gary Lineker is Will Carling’s brother in law?
Maks sense tae me, and it maks sense tae Mo.
LiviBhoy on 14 May, 2012 at 14:49 said:
So it would appear that all managers from Rangers (IA) EBT period are now out of work.
Interesting………
How are the former players of rFC (IA) getting on?
Surely the record SPL goal scorer must be producing European Cup winning performances wherever he is?
Oh……….
What’s the odds on the Cat-in-the-Hat, replacing “Billy Buckets”?
I think the main reason for Sammi’s great form is a change in shampoo and conditioner… FACT
Don’t know if this has been mentioned already but has anyone seen theBBC Scotland SPL Page today.
What’s the bigger SPL story? The culmination of the season’s championship winning celebration or some journeyman SPL player retiring?
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
Agree. :0)
DBBIA 1453
Erm,not quite.
Lineker married Michelle Cockayne-aye,really-and Carling had a long relationship with her sister,which resulted in at least one child.
If memory serves,the pillar-of-the-establishment,media-luvvy,captain of England,etc,etc,disputed this.
He also disputed any liaison with Diana,Princess of Wales.
Poor guy,must have a doppelganger(insert own joke here)
I am always finding mobile phones on my taxi. I have always managed to get them back to their owner.
As a partner in a taxi firm, I have never had a lost phone handed into me from about 40% of our regular drivers.
The huns are dropping like a stone into a black , bottomless pit of quicklime while Celtic are soaring upwards to a bright new dawn. And the Scottish media?………… well they are in complete denial. Quelle surprise.
GOOGYBHOY 1506
I’d check their meters,haha!
A few weeks back,driving through a sidestreet in Swindon,I narrowly missed a mobile phone on the road-how many points would that have been on DEATH RACE 200,btw?
Anyway,I retrieved it,took it home,and went through the texts and eventually the owner called back on it.
He hadn’t even realised it was missing!
He was a British Gas engineer,and while the numbers,texts,etc were largely unimportant as he had his own phone,this one had all his company information on it.
But he lived in BRISTOL!
Not a problem-one of my drivers was heading over that way later that night,so meeting arranged and one very grateful fella!
Losing yer mobile nowadays is a real problem,because people store so much info on them but don’t back it up.
A few weeks ago I was wondering if Hooper could kick onto the next level like Henrik did after his first season. The King of kings was 27 when he hit his peak. Gary is only just turned 24. After his five goals yesterday I think the best is yet to come.
Has Sammi reached his peak yet? Just turned 27- we just might be seeing his best years ahead of him- in his ideal role just behind the main striker?
mobile stuff now backed onto laptop..
seems my dad phoned my number 10 minutes after I left Kerrydale suite and whoever found it took it to one of the staff at Celtic park..
dad picked it up this afternoon… internet was on it so could be a big bill next month….
hoooooooops….. o))
Guy has done his tank in at the Riverboat and needs to get a taxi back to Rutherglen at 4am. Guy goes up to the top of the rank and tells the guy he is skint but says he will hand in the money to the taxi office the next day. Taxi driver tells the guy to beat it so he has to walk it home.
The next week the guy wins big and has over 10K stuffed in his pockets . As he approaches the rank he notices the driver who kb’ed him the week before is sitting third in line. He goes to the first cabbie and asks how much to r’glen? driver says 20, guy says if you sleep with me tonight I’ll give you 2 hundred. The driver refuses in no uncertain terms. He goes to the second driver and repeats the offer and is given a similar response. He then jumps into the 3rd taxi and says Rutherglen mate. As the driver pulls out of the rank the boy gives the first two drivers a big thumbsup and a cheesy grin.
yorkbhoy on 14 May, 2012 at 14:58 said:
I think the main reason for Sammi’s great form is a change in shampoo and conditioner… FACT
Because he’s worth it!
The God Like Genius of Georgios Samaras and son of Zeus CSC
BMCUWP – which captain of ole England is disputin’ what?
Gary Lineker’s brother has the kind of business acumen the south side of Glasgow is cryin’ out for just now.
B/tim- it will have ole Dick’s number on it now, worth its weight in gold.
I couldn’t believe mark Wilson is only 27.
It is a real pity that he can not saty withouot serious injury.
He lived the dream though and has 4 championship medals to show his new team-mates. Might go back to Dundee Utd.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS on 14 May, 2012 at 15:15 said:
GOOGYBHOY 1506
That is my.view also. The contacts.and photos etc are priceless.
Have downloaded all mine to mitigate against loss.
I must admit to finding the phone of very beautiful women and had to check het pics toake sure.it was her. Honest.
She had El Hadj Diouff number. This was prior to him going to Ipox.
Just as well tempting.
Blantyretim
Hope you have not been steaming live stuff for hours…..or someone.else???/
Steaming= streaming
Or perhaps not
TOMOBLOG coming later on the man who
would own Rangers (with 20-odd other
blokes)
BT
Internet was left on eh?
that sounds more like an alibi being readied…
ha ha bhoys….