Craig Whyte’s representatives have seen more court time than Andy Murray in recent months and were able to make the most of home territory at the Court of Session in Edinburgh today by gaining permission to appoint their own administrators, Duff and Phelps.
Scottish Premier League tables across the world will now be updated to reflect the new position which gives Celtic, who scrupulously pay all debts, a 14 point lead at the top of the table.
The hours and days ahead will be worrying times for the many employees of Rangers, not all of whom are on superstar wages, who await to hear if they still have jobs. Worrying times also for suppliers to Rangers, including Glasgow City Council, Strathclyde Police and the many small traders, who will be asked to provide services if Saturday’s game at Ibrox goes ahead.
One final push (this week) for the Vanessa Riddle Appeal. We have a Celtic top signed by the first team squad available to auction on eBay. You can bid on the auction and help send Vanessa for the treatment she needs by clicking here. Thanks to Penfold for the donation and to Taggsybhoy for organising (yet again).
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And the fat lady steps up to the microphone…
So Ranjurs have signed Duff? Wow! Who is this guy Phelps though, what position does he play?
IanBhoy929 at 14:51
This is bad news for HMRC, they would have had more control if they had been able to appoint there own
administrator.
No they wouldn’t. It doesn’t matter who appoints the administrator as the administrator has to look after the interests of all creditors. Only by the appointment of a receiver can any particular creditor have control and HMRC would not be entitled to appoint a receiver.
Makes no difference who the administrator is regardless of what spin the LL may wish to put on it.
Mort
Afternoon bhoys,a hun free Valentine day in the mountains.
Killie are 8/1 btw.
IanBhoy929
This is bad news for HMRC, they would have had more control if they had been able to appoint there own
administrator
HMRC consented to this move remember
There is far,far more to come from them
The Bunnet must be laughing his head off in Bermuda, Canada, Croy or wherever he may be.
God bless Fergus wherever you are.
Let him furl the championship flag at the beginning of the next season.
Thats it official then. Never thought I would see this day. Truly momentous.
It really doesnt matter if they live or die (preferably) but the good ship Dignity will be forever tainted with Administration and the tainted trophies.
Deo Gratias.
Many thanks to Paul 67, Phil Mc younowwho amd Rangerstaxcase for mission accomplished.
Maybe I’m thick, but if hun are wound up and HMRC as an unsecured creditorget nout how come they can’t force sale of ibroke to pay towards what they are owed,Me know understand.
KINGLuBO
The administrator they’ve appointed is a guy who walked through the doors with CW when he ” bought” them .
Skullduggery afoot by the wee shyster?
What happened to SDM statement?
Cue Minty ???
Court gives Rangers until afternoon to appoint an administrator
• The Court of Session gives Rangers until 3.30pm
• Club has failed to conclude negotiations with HMRC
Ewan Murray
guardian.co.uk, Tuesday 14 February 2012 14.27 GMT
The Court of Session has given poor Rangers until 3.30pm to appoint an administrator, or a challenge by Her Majesty’s Revenue and Customs to do exactly that at Ibrox will be ruled upon.
In stating they are “confident” of meeting the deadline, Rangers will incur an immediate 10-point penalty from the Scottish Premier League.
When signalling their intention to move into administration on Monday, Rangers named Duff and Phelps as the firm set to assist with that. A partner in that London-based company, David Grier, was photographed alongside the Rangers owner Craig Whyte in the Rangers directors box before a match on 10 May last year.
HMRC had challenged Rangers’ plans in court by quoting articles from the 1986 Insolvency Act stating that five days’ written notice must be given before administrators are appointed. HMRC – who have been involved in a tax tribunal with Rangers worth tens of millions of pounds – wanted the court to appoint the administrator.
A statement from Duff and Phelps on Tuesday morning said: “Duff and Phelps has been engaged by the directors of the Rangers Football Club plc [RFC] to assist its negotiations with HMRC, and possible restructuring options.
“As a result the inability of RFC to conclude negotiations with HMRC the board of directors have filed a notice of intention to appoint administrators.
“The purpose of this notice is to provide a moratorium against potential creditor actions. Meetings are due to take place with HMRC in relation to the tax position of the company. Management remain hopeful that with the assistance of HMRC a consensual and solvent solution can be found. In the meantime RFC is continuing to trade as usual.”
Lizzie been on the phone has she? Thems couldnae run a bath never mind this admin malarky!!!
Amid all the gloating, can I appeal to the human being within each and every one of you to take a moment to think about poor wee Sone Aluko.
Right, that’ll do…….back to the gloating!!
So HMRC took this wee petition to courts, Rangers appealed and were alowed to appoint their own administrator (big whoop) but now Rangers have to pay HMRC’s legal expenses.
The gift that just keeps giving.
Mort
IanBhoy929
KTF mate today wasn’t even the tax case..
Like quite a few on here I’ve not posted in ages but had to say well done to Paul67 and everyone else for keeping well informed of what was going to happen/is happening today. Yesterday when I turned to the blue boy in the office and told him, his face went in his hands, looked at me and said “I always thought we were too big for this to happen.” No matter how many times I tried to explain how bad it was not one of them would listen. “Ach, we’ll be fine” was always the reply.
Thanks to everyone on here and the rangerstaxcase for all your hard work and helping me look well educated.
carasulieman Cara Sulieman
Wasn’t said in court how much these expenses are. #Rangers
2 minutes ago » carasulieman Cara Sulieman
Lord Menzies also ordered #Rangers to pay HMRC’s expenses. The club didn’t oppose this.
3 minutes ago » carasulieman Cara Sulieman
#Rangers are in administration.
MBB to pay HMRC court costs
8 wins bhoys and the league is ours! :D
From BBC Scotland website:
“Robert Marshall who runs a well-known Rangers bar near Ibrox, the Louden Tavern, remained optimistic.”
Near Ibrox?! Yet more evidence that the mainstream media are not to be trusted.
And neither are the hand-wringing politicians of every persuasion who ignore completely the issue of tax avoidance and whimper on about “a sad day for Scotland” and the like.
We arra peeple ….but we can’t run a sports club ….so can someone help us administer it please.
Couldn’t be happier!
Beep…beep…beep…beeep…beeeep….
Beeeeeeeeeeeeeeeeeeeeeeeee.
ajaxbhoy, cheers.
ernie lynch, eh? These liabilities are debt. If Newco agrees to assume those liabilities they are assuming the debt!
geebee1978, no probs.
BrotherAidanIwisnaelate, you’re very welcome.
HazeyJamie, many thanks.
KINGLUBO at 14:55
If liquidated, all assets will have to be realised so yes, the ground will have to be sold.
Mort
Paul 67
On Talksport they had an administrator expert to explain the latest HMRC move, he said it didn’t really matter who got to be appointed the administrator as the company the Huns want are very reputable, he said it was probably just posturing by the HMRC to show how serious they are. What got me worried is what the expert said next that the most likely outcome of all this would be that the Huns will probably strike a deal with the SPL to be allowed to transfer their shares like Leeds United did for exchange a further 15 points deduction, this doesn’t sound good. If you got time Paul67 could you please explain this ploy and it’s advantages for the Huns and is it possible for them to do it and get out of debt?
Thanks
Ha Ha Ha Ha Ha
Wasn’t said in court how much these expenses are. #Rangers
less than a minute ago
Lord Menzies also ordered #Rangers to pay HMRC’s expenses. The club didn’t oppose this.
1 minute ago
#Rangers are in administration
I think Hector did this to force their hand I am not an expert but as Paul says this has got a long way to run.I for one is enjoying it and would prefer a long drawn out death.Lie down and grunt ya Huns
Whyte seems to have got what he was gambling on getting. Administration before the big tax bill arrived. The season ticket money is his—-that and the cost of a Newco
Rangers owe him money . Rangers owe HMRC . Rangers are in deep doo doo.
No to Newco
Who were the goalscorers in the 3 wins & a draw?
very witty…………..
http://www.gumtree.com/p/for-sale/marble-staircase-for-sale/96487513
Thanks for the info lads, feel a bit better now.
Hail Hail
What a Glorious Day but its just dipped to minus 10 outside mid afternoon.
Vanessa auction update……current highest bid is £820 which, if genuine, is astonishing………….
Hail Hail
Guys, advice
please
how do
you
type,
eat ice
cream
and jelly
and continue lateral
movement
wall to
wall
yaaaaaaasssssssssssssssssssssssss!!!!!!!!
Rangers appoint duff and phelps as administrators
could this be jim phelps
really will be a mission impossible
may67 says:
14 February, 2012 at 14:57
There is another Louden ( I know one is bad enough) near Ibrox at Kinning Park.
The Narrowbhoat Tim says:
14 February, 2012 at 14:59
Stop listening to talksport
Hail Hail
Cheerio 4 in a row!