Ellis throws administration a legal curveball

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The very last thing anyone connected with Rangers wanted to read this morning is that Andrew Ellis, Craig Whyte’s former associate, is suing the Rangers owner for 24.9% of the club’s shares.  This puts a further legal impediment in the way of any potential transfer of shares or stadium assets from Whyte to a new party.  It remains to be seen if Ellis is in a position to legally enforce his claim however the veracity of his claim may be moot.

Prospective Rangers buyers do not have time to spend in court hearings and appeals before the start of the new season.  If a phoenix (or even a CVA) is to be put in place it is likely that those with a claim, any claim, will need to be satisfied.

This development comes a week after Whyte transferred the security over Ibrox he holds through Rangers FC Group Ltd to Liberty Corporate Ltd.

Legal issues over ownership of shares and assets aside, Rangers’ administrators still have to deal with creditors, in particular, HMRC, who will soon learn if their tax demand against the club has been upheld by the First Tier Tribunal, and Ticketus.  Duff and Phelps were denied the right to set aside the deal which Ticketus struck with Rangers to buy thousands of seasons tickets, leaving a path open for Ticketus to present a legal challenge to any deal which does not recognise their interests.

Chances of an early exit from administration appear to be diminishing by the day. Motherwell were in administration for four days short of two years between April 2002 and April 2004. If Rangers are not out of administration on the morning the new season kicks off they would start on minus 10 points.

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  1. roy croppie on 10 April, 2012 at 23:13 said:

     

     

    philvisreturns

     

     

    in the frozen wastelands of Airdrie we called it Wally.

     

    ————————————————–

     

    NAW! Wally is when at least two players take a turn to kick a ball against a wall. The intention is to hit it hard enough to make it difficult if not impossible for next player to achieve the aim ie. hitting the wall! If your opponent/s miss you get a `goal’. Used to play that till the Polis moved us on when it git too dark or someone had money for BaBru!

     

     

    HH

  2. surely its

     

     

    Wattie ?

     

     

    you throw a pound coin against a victorian red brick crystal palace toilet block and the winner is the closest to the £134 milion pound debt.

  3. JimmyQuinnsBits on

    Celtic Champs Elect on 10 April, 2012 at 23:03 said:

     

     

    CCE, I’m a fan of TET’s, and would never decry him. I’m also not fawning billy boys when I state an honest opinion on Ed. I also have a clue, lots of clues, about the subject.

     

     

    I have certain principles I won’t shift on. But I take people as I find them, and he seems like a decent bloke.

     

     

    Life is not black and white, or grey; Its all colours under the sun

     

     

    except black and white

     

     

    and grey

  4. setting free the bears on 10 April, 2012 at 23:17 said:

     

    I’m very fond of fawns,

     

     

    Is that fawning enough?

     

     

    Anybody know a good sauce for venison?

     

    >>><<<

     

    yes.

  5. leftclicktic

     

    I should have moved there too but stayed on to fight the good fight in enemy territory :))

     

    The Coatbridge Bhoys had it easy!

  6. suttons volley on

    Celtic champs elect (change yer user name btw!)

     

     

    Some of them are good guys on a day to day, one to one basis, but when they get together something disgusting and strange takes a hold of them

     

     

    it’s like watching a mogwai being fed after midnight!!

     

     

    HH

  7. Steinreignedsupreme on

    philvisreturns on 10 April, 2012 at 23:08:

     

    Steinreignedsupreme – Presumably because of the ruins in Dundyvan…

     

     

    “Only ruins I can remember there was the church. Unless you mean the Banks Club. (thumbsup)”

     

     

    The entire side of the street opposite the Shark’s Mouth was dilapidated before they landscaped it.

     

     

    jude2005 is Neil Lennon \o/ on 10 April, 2012 at 23:09:

     

     

    “Watch it. My first house was on Dundyvan Rd.”

     

     

    My brother lives there these days.

  8. Annie

     

     

    We called the big marbles bulls, I am guessing from bulls eyes.

     

     

    Your spelling might be that French game, I suppose it could be that too.

  9. Lennybhoy at 23.20

     

     

    When did you start working as a postman?

     

    Should that not be a job for the likes of myself?

     

     

    HH

  10. sftb

     

     

    I had venison a week or so ago as it happens, it was served with a very spicy raspberry sauce, a tad too hot, less heat would have been the biz.

     

     

    That is coming from someone who loves sausages and marmalade, delish…

  11. JimmyQuinnsBits on

    TET,

     

     

    Venison… plum and balsamic reduction… hmmmm

     

     

    oooh… hark at me, a numpty fae the schemes

  12. JQB

     

     

    Sorry I just can’t help myself I tried desperately not to put my digits to the keys!! Alas…….:-))

  13. Green Lantern (((((0))))) on

    TET. Those who support Rangers are not just fans of a football team and club.They take on the baggage that comes with that vile institution including a history of anti Catholic discrimination and an aggessive antipathy to all things Irish/Catholic and Celtic which continues to the present day.

     

    (Indeed in many ways the hatred is more intense now principally in my opinion because we will no longer sit at the back of the bus and are therefore in the “minds” of many of them uppity, don’t know our rightful place and are therefore threatening to the peepel whose place in the world and sense of entitlement are disappearing before their eyes.)

     

    Nevertheless those who give support and succour to such an institution do so in the full knowledge of all that this entails and are all equally blameworthy whether they are effing The Pope at the game or are among the so called “decent” of their species.

     

    I have put this to many Rangers supporting friends before but have never had a satisfactory answer, the usual response being that they grew up supporting them but disapprove of all the other stuff and can do nothing about it. Although with the advent of Neil Lennon attitudes have hardened even among the decent ones.

     

    My reply has always been and will continue to be:

     

    For evil to prevail it is only necessary for good men to do nothing.

     

    I have been a lifelong Celtic supporter since I was a wee boy going to the game with my da in the fifties, but I can say unequivocally that in the unlikely event that my club adopted sectarian or racist employment policies they would lose my support and I would campaign vehemently and tirelessly until such policies were overthrown.

     

    THAT is the difference between us and them,and why I give thanks that I am aTim and not a you know what.

  14. Jude 2005

     

    in a few watering holes myself with she who must be obeyed that week,anyway off to bed golf in the morning,as I said,retirement is stressfull

     

    H H

  15. Tenerife chat.

     

     

    if you want to try something different, local and authentic (ish) go stay at

     

     

    Hotel San Roque

     

     

    Garachico.

     

     

    North West tip of the island.

     

     

    capital until 1790 something, then a volcanic eruption buried the town.

     

     

    peaceful.

     

     

    hun free.

     

     

    kind of timmish in places , cos ive been going for 27 years (ish).

  16. roy croppie on 10 April, 2012 at 23:22 said:

     

     

    Art of War

     

    we def called it Wally in Rawyards.

     

    —————-

     

    Fair play. For a country the size of ours I’m amazed at the number of dialects. So why should I be surprised at whit the same kids games are called in different areas!

     

     

    I find the North-East patter the hardest to follow. Doric, if I’m not mistaken is the hardest? However, i do note that the whole east coast uses `ken’.

     

     

    HH

     

    dontaskmehowcsc

  17. Steinreignedsupreme on

    jude2005 is Neil Lennon \o/ on 10 April, 2012 at 23:29:

     

     

    “Fine place!! The tenaments??”

     

     

    Just north of the Clock Bar.

  18. BIG-CUP-WINNERS on

    Exiled Tim

     

    Earlier you posted: “Rangers FC IA are a sectarian club, they only changed their policy because they were forced to change by the football authorities, they pander to the bigot pound, they are rotten to the core, and imo, anyone who openly supports a sectarian club, knowing what the club stands for is as bad as the club itself.”

     

     

    That’s exactly right. No amount of clever words, platitudes, polish will hide that truth.

     

    RFC (IA) is a club after all and those who chose membership do so in the full knowledge of what that club represents.

     

     

    Hail Hail

  19. JQB

     

     

    I have to look far here for decent food, mostly it’s bland, not too kean to experiment, but there are some who do experiment, and they are a joy.

     

     

    Any fruit goes with meat imo, but again, I like drinking wine with curry :>)

     

    …………………………………..

     

     

    Green Lantern

     

     

    I can only go with what I know and have experianced.

     

    I agree with you 100%.

     

    I had a friend many years ago, a good man, smart as eggs, a delight to be in his company, but when he got with like minded huns, his Jekyl and Hyde came to the fore, the hate was pure and driven, such a shame, there goes that word again.

     

    HH

  20. Earlier this evening I posted the comment below on Alex Thomson’s Blog.

     

    As the subject is five days old, it is more or less dormant.

     

     

    After the Richmond revelations, I feel that my comment has a relevance.

     

     

    Feel free to ignore.

     

     

    thomthethim

     

    10 April 2012

     

    at 5:32 pm

     

    Alex,

     

    To date you are doing a great job.You have gone where every other media outlet has refused to go.

     

     

    More power to you.

     

     

    However, would a probe into the possible connection between the SFA, MSM, RFC, HBOS and the Scottish government…and Freemasonry be a step too far for Channel 4?

     

     

    In my opinion, not to go there will result in an unfinished story and render your previous efforts as practically pointless; as normal service will quickly resume in Scottish society.

     

     

    00Rate this

     

    Like or Dislike: 0  0

     

     

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  21. Rascar Capac on 10 April, 2012 at 23:22 said:

     

     

    A Clydebank man should know that the game was called ‘BOOLS’.

     

    Nane o’ yer BULLS nonsense.

     

    An old St. Pat’s Bhoy should also know that the correct name for BOULES is Pétanque.

     

     

    You can take the bhoy out of the Crazy Brazie, but………………..

  22. jude2005 is Neil Lennon \o/ on

    Stein

     

     

    North of the Clock?? Thats a bridge!! lol

     

     

    Ma mate and his pals out of the iron works used to paint for the bonds on the 12th. more Laffs

  23. Philvis :- Down this way we call that game pitchie or using it’s Sunday name Pitch n Toss, I actually played a game of it about a year ago when a crowd of us were waiting on a bus up to a poker tournament. It was almost like a cliché, a bunch of grown men throwing pound coins against the wall of a pub in the main street. After about 20 minutes I was up the grand total of a pound

     

     

    CCE :- If it’s me you are talking about and you don’t like my views then fair enough but to call me a Catholic hater is just plain wrong. I’m not going to reiterate all my previous posts but I would say that those from organisations I support or belong to would show this, my family history would show this, my two Granddaughters from a very good son in law show this. Don’t like me for my political views, fine. Don’t like me for my lack of religion, fine. Don’t like me for the team I support, fine. Call me a catholic hater, not fine, it’s a complete lie and I expect better from posters on this site.

  24. Green Oak Tree on

    Re Collum ….

     

     

    If as alleged by posters on here Collum is a practicing RC then he cant be a mason…..Can he???

  25. hamiltontim on 10 April, 2012 at 22:39 said:

     

    ‘ernie

     

     

    In what way? It’s the same as what rowz has just posted.’

     

     

     

    The huns would be contractualy entitled to the money. The SPL can’t decide to favour one creditor over another. The administrator/liquidator would sue the SPL.

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