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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1,263 Comments

  1. Green Lantern (((((0))))) on 11 April, 2012 at 00:02 said:

     

     

    I wouldn’t disagree with any of that.

  2. right off to bed. putting the goat in the garage.

     

     

    i am in the masons by the way. its magic.

  3. God Almighty ah thoat ah wis oan the rang BLOG, everybody coveren thur WURK,

     

    BTW is it all QUIET IN THE EAST cannae be a Thursday or you lot wed be a yur meeting’s.

     

     

    For the benefit of the Boolers what about Scorey,Pairs, and Trebles mind naebudy steals yur Yukes.

     

    Awerabest PJ

  4. ernie

     

     

    Would it make a difference that this was more than 20 years ago in light of Pope Benedict’s recent document?

  5. Green Oak Tree on

    How would that square with the 3 men that I’ve known in my lifetime who were practising Catholics but also members of the masons?

     

     

    The PP in all cases knew about their membership.

     

     

    /////////////////////////////////////

     

     

    Hamilton

     

    Were they allowed to take the sacraments..

  6. Art of War on 10 April, 2012 at 23:53 said:

     

    If Mauro Formica of Blackburn Rovers played for Rangers under the EBT scheme, do you think the SFA/SPL would wipe the slate clean? :-)

     

     

    ***

     

    Feel sorry for Formica at Blackburn – always thought he should be at the top of the table.

  7. FFM

     

     

    You could well be right. I did some research on this but it was many moons ago and primarily dealt with the influence of freemasonry within the Church as opposed to the structure and nature of the masons themselves.

  8. Green Lantern (((((0))))) on

    That’s it for the night Tims, off to bed after that goat curry.

     

    Yum Yum.

     

    HH and KTF.

  9. Fortunes Favour Mibbes on

    There’s about 30 police forces in the States that openly have masonic symbols on their badges.

     

     

    The chequered band on the hat is said to symbolise the Temple of Solomon, ie control of the mind. Most polis reach the level of the Blue order.

     

     

    It’s a lot more widespread than many realise. Don’t get me started on the Illuminati, the higher echelons of this shower.

     

     

    But I’d remind you all of Donald Findlays odd contributions to the preliminary hearing of the accused bombers, where a confused BBC reported referred to Findlay’s incomprehensible ramblings to the judge about Solomon.

  10. suttons volley on 10 April, 2012 at 23:55 said:

     

    thomthethim on 10 April, 2012 at 23:47 said:

     

     

    Thom they are not all like that, just brainwashed to give this stance when in colours.

     

     

    You shouldnt tar thousands of people with the same brush

     

     

    HH

     

     

    share on F’book or Twitter

     

     

     

    ******

     

     

    I ‘m sorry, but I don’t see the relevance in your response to what I posted.

  11. Nollaig a chara on

    Just saw Kenny Dalglish’s interview with Sky Sports there after the Blackburn game….LOL thats the way all media should be treated if they start asking stupid questions lol proper order

  12. Steinreignedsupreme on

    Fortunes Favour Mibbes on 10 April, 2012 at 23:59:

     

     

    Aye. It’s pretty lame stuff tight enough.

  13. Still on masons? I used to drink in the Stinkin… sorry Lincoln Inn in the leafy burgh of Knightswood (alarm bells should have rang wi that name). If you know Knightswood then you will know there were not a huge amount of watering holes to go to. There were two masons who drank in there, quite openly stated it and wore some of their `working’ gear on a regular basis as i think they met once a week.

     

     

    One was called George and he liked to tell us he was `high up’ in the SFA. The other was rather bizarrely named James Connolly. But George was the interesting one. Bitter George is what he was called out of earshot. He knew I was RC and a Tim but liked to join in my Sunday general knowledge quizzes. Once I had learned of his hobby I used to throw in some questions to get a reaction. You know the kind.

     

    It is only now that I remember that George used to regularly quote the names of referees who he had `happened’ to meet in the course of his business.

     

     

    I just wished i’d asked which business.

     

     

    HH

  14. CultsBhoy loves being 1st on

    Between the age of 14 and 18 I lived in a north east town having moved from Sunny Blantyre.

     

    In this town the local ice cream shop was owned by an Italian catholic… He was often spotted going to the Lodge…

  15. FFM

     

     

    Just like I said.

     

    Hidden in plain sight, google it, you will be astounded what you see.

     

     

    Deffo bed now, up early to do the grumpy bit….

  16. Fortunes Favour Mibbes on

    TET,

     

     

    Aye, looked at a lot over the past year. Had to give up as it is FAR too disturbing.

  17. Green Oak Tree on

    TheCelticOne on 11 April, 2012 at 00:26 said:

     

    HMRC do deal for/with Rangers

     

    /////////////////////////

     

    Source pls…

  18. TheCelticOne on 11 April, 2012 at 00:26 said:

     

     

     

    HMRC do deal for/with Rangers

     

    ======

     

    Zzzzzzzzzzzzzzzzzzzzzzzzzz

  19. The Masons operate worldwide.

     

    For the longest time,the variant in Scotland was ‘The Scotch Rite’,innocuous in comparison to ‘The Orange Order’ which seems to have gained predominance in Scotland. The O.O. is a beast of an entirely different stripe,whose core intention is the suppression of Catholicism and the Irish (Republicans,Nationalists; and the Irish immigrant community in Scotland),by any means necessary. And they mean it. RFC(ia) is an adjunct of The O.O.

     

    Their modern ethos is ultra-violent and they prey on the ill-educated. They have links to groups like The KKK and they are not averse to serious criminality to further their ends. A judicial enquiry is long overdue into their activities,but this is unlikely as they disseminate fear & use their ‘legitimate’ Masonic connections to stay intact and in place.

     

    They are utterly despicable,and anyone who supports RFC(ia) is buying into a fascist criminal organisation.

  20. Lol

     

     

    There was supposed to be a question mark after this

     

     

    This Tommy from Glasgow fella who spoke with CW said he has proof. He spoke with Alex Thompson today also after Alex tweeted this his claims were rubbish.

     

     

    Alex has since not mentioned it

     

     

    Worried this may be true

  21. Fortunes Favour Mibbes on 11 April, 2012 at 00:11 said:

     

    The chequered band on the hat is said to symbolise the Temple of Solomon, ie control of the mind.

     

     

    __

     

    This is the Sillitoe Tartan. Based on the tartan ribbons around the headgear of many of the Scottish regiments. or oh eh, didn’t I get the joke there. Oops sorry. Under mind control.

  22. TheCelticOne on 11 April, 2012 at 00:44 said:

     

     

    I’ve been listening to Tommy’s rants for years on Talksport, Scotty McClue and all the phone-ins. A great laugh but I wouldn’t take what he says as gospel.

  23. TheCelticOne

     

     

    Alex has largely dismissed it after consulting with HMRC, and the usual thems suspects have used this as another stick to beat Alex with, claiming it was the made-up work of a Celtic fan. There will be some kind of deal though. Thems don’t have the cash to pay in full, so the best (imo) we can hope for is a p/£ settlement that slowlanes them enough short and long-term.

     

     

    I have rationalosed the moral and hard-edged business side of this. They are bankrupt in all but name, and all I can think is that an SPL1 and 2 will be quickly railroaded through by the ten, and then 1 will get us, 2 will get them, as a pill for thems to swallow, back in the happy fold in a year’s time assuming promotion. That’s where my HMRC plan comes in to slowlane them for the next 5/10 years. Moreover, fire-sale in the summer, no Europe next year. And assuredly, no five-stars on the jerseys.

  24. Fortunes Favour Mibbes on

    greenmaestro

     

     

    That’s a very widespread tartan then? Mibbes you can offer a bit more to your argument? You think I’m a paranoid Tim? Good one.

  25. James Forrest is Neil Lennon! We are ALL Neil Lennon! on

    On HMRC and Der Hun:

     

     

    There is a brilliant scene in Cracker, season 3, where Fitz and Judith are arguing about the shopping. He is telling her how he paid for the groceries. She reminds him that said groceries consisted of bottles of whiskey and fags … his whiskey and fags. Oh and a few items for her, like celery or something.

     

     

    She tells him the credit card companies have just about had enough of them, and Fitz jokingly takes the cards out of his pocket and puts them in the nearest bin. She fishes them out, and turns to him, with a withering stare, and tells him straight “Do not tempt me Fitz … right now you are worth more to me dead than alive.”

     

     

    Those are truly terrifying words … worth more to me dead than alive. It would tempt many people into pondering remedies for removal ….

     

     

    What you have to ask yourself is this; what is the best HMRC can do here?

     

     

    You cannot argue, as the media has, that Rangers are a “test case” and then talk about HMRC accepting ten pence in the pound.

     

     

    Are HMRC chasing the big clubs of England, and companies throughout the land for EBT payments? Yes they are. Do they need a big win and a big result to put the fear of God into other organisations? God, yes.

     

     

    Are Rangers worth more to HMRC dead or alive? You tell me which will get the English clubs to open their cheque books?

     

     

    A cop-out? Or a corpse?

     

     

    Rangers, flayed, skinned and hung from a bracket will net HMRC more money than if that club was put on a bread and water diet of repayment for the next 100 years. They are worth more dead than alive.

     

     

    If I were a Rangers fan I would not be sleeping at night thinking about that.

  26. James

     

     

    Your analogy is gory and glorious in equal measure, but with that strung-up sectarian club goes any chance HMRC have of (re!)capturing their monies. Is that really the victory HMRC cherishes? You’re talking me round, as I can see how it would put off the next Portsmouth. Don’tpay your taxes and we will string you up. They have my vote with that campaign poster.

  27. James Forrest is Neil Lennon! We are ALL Neil Lennon! on 11 April, 2012 at 01:07 said:

     

    =============

     

    Enjoyed that analogy.

     

     

    I just get the feeling James that there is nobody brave enough around the death-bed to turn off the life support machine. Not Duff & Duffer, not the SFA or SPL. I even get the feeling that HMRC don’t want anything to to with the deed. I reckon it’s going to be down to a real mental case like Whytey to pull the plug and take all the grief that the peepul will give him.

     

     

    I wish he would hurry up and put them out of their misery. I think they’ve been conditioned enough to accept liquidation and that the authorities fear of mass civil disturbances as a result of their demise might be over estimated.