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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Awe Naw
“I dont think there is any chance of a Newco …. NONE WHATSOEVER”
Why mi amigo? por cierto
Who’s going to change the League table first?
George Burley talking mince on Sky News…….jeeez!
RogueLeader says:
14 February, 2012 at 15:05
Is the Russian transfer window not still open?
HMRC may still recoup some of Her Maj’s money after all!
HH
/Bishop B
Paul67,
Great headline, and there was me thinking I had used up my year`s supply of laughter yesterday!
Is there any truth in the rumour that Hector failed a medical at Ibrox or was rejected by Rangers scouts who mistakenly assumed that he went to the wrong kind of school? :)
I have an appointment at Hampden this afternoon. I wonder if I`ll see any discarded goat carcasses outside the main door……
Does administration mean Umbro will shove an extra star on the Huns tops?
PENFOLD 1502
No reason to doubt it,because I know what my bid was.
Paul67 says:
14 February, 2012 at 14:59
‘ernie lynch, eh? These liabilities are debt. If Newco agrees to assume those liabilities they are assuming the debt!’
Yes but they won’t agree to take them, will they?
They’ll buy only those assets they need. That does not include assuming liability for the debt.
.
Paul67
Well Played Sir.. Take a Bow..
I Noticed one of Your Catchy Headlines about Rangers Financial Trouble Early 2005 been a Avid Reader ever Since ( God You can Stretch a Story ) Ha Ha..
Job Done Buddi..
001Bhoy
1 Celtic 26 21 2 3 53 16 +37 65
2 Rangers 26 19 4 3 51 15 +36 51 ———————MINUS 10 for Admin HAAHAHAHAHAHAHAHAHAHAHAHA
3 Motherwell 25 12 6 7 31 29 +2 42
4 Hearts 26 10 6 10 31 23 +8 36
5 St Johnstone 25 10 5 10 33 32 +1 35
6 Dundee Utd 25 7 9 9 38 39 -1 30
7 Aberdeen 26 7 9 10 27 30 -3 30
8 Kilmarnock 25 6 11 8 29 36 -7 29
9 St Mirren 26 6 10 10 25 36 -11 28
10 Inverness CT 25 7 5 13 30 41 -11 26
11 Hibernian 25 4 7 14 24 45 -21 19
12 Dunfermline 26 4 6 16 28 58 -30 18
Will Poundland now be re-named Hector’s House?
Rangers new sponsorship announced
Brian Donohoe MP
On BBC News 24 – HMRC’s Fault , that from an MP, guardians of our money – A socialist i know , but come on
….. HE thinks its game over now and start again as a new entity in Div 3..
Hurting Hurting Hurting
Por Cierto
http://www.celticquicknews.co.uk/?p=7799&cpage=15#comment-1292858
Hail Hail
Surely the manager will go and the rest of the football management team, and a youth coach will be appointed to run football matters in the interim period. por cierto.
Santa Claus, the Tooth Fairy, an old drunk and a Rangers’ fan are walkin down the street. They see a £10 note – Who do you think picks it up?
The old drunk of course – the other 3 don’t exist! ?
Author: Chris Alexander
You may have recently read my blog articles about the JJB Sports PLC’s Company Voluntary Arrangement (“CVA”) which was approved on 22 March. If you haven’t then you can read my most recent blog article here.
JJB persuaded its creditors and shareholders that it was better to lose 75% of what they were owed in a CVA rather than the predicted 99% in an administration. Oddbins were treading a similar path, advised by Deloitte. Its proposal meant creditors would recover 21p in the pound over 46 months but it has been reported that HMRC vetoed the CVA after 10 days of talks, meaning that only 68% of creditors were in favour, 7 percent below the required 75% threshold. HMRC is believed to have been owed in the region of £8 million but the predictions in the press are that the return from the administration will be only 5-7p in the pound at best.
Oddbins now joins Unwins and First Quench (Threshers and Wine Rack) as victims of the recession and the squeeze on margins brought about by competition from the supermarkets.
Mind you, it’s not all bad news for Deloitte, even though the CVA it drew up failed, it is due to be appointed on Oddbin’s subsequent Administration. With no pre-pack it will be a bumper few months of fees for the administrator. One of the first things the Administrator will want to investigate is why Oddbins is owed £17 million by a company controlled by former directors!
Hail Hail
share
And the best bit?
Celtic can win the league at Ibrox
Awe Naw
NewCo – No chance.
Why not?
NI fanbase give up the ghost?
£30mill T/O business should be a given?
What would that be worth to corporate loyalism?
SSN already showing the league table with the deduction. Now to have it redrafted with all the huns fixtures this season annulled.
Complete meltdown.
parcel=>
Over the years all Celtic supporters will have there idea of wo the greatest Celt was names like Bro Walfrid , Jock Stein, or Fergus McCann in years to come will we be adding the name of Craig Whyte ? H.H. ;- )
Snake Plissken says:
14 February, 2012 at 15:18
Well done that man – I was kind of meaning BBC / Celticfc.net, but good to see in black and white nonetheless!
When does the Russian transfer window close? At the end of this month?
What are the odds on MacGregor and/or Davis being sent to Siberia for £5m each?
MadMitch says:
14 February, 2012 at 15:10
Mort / ErnieL et al
‘The administrators have a pecking order of people owed money to the TFOD?’
It’s laid down by statute.
Forget the football creditors thing. That’s am FA rule. If you want to remain a member of the FA you have to pay football debts first. It doesn’t apply in Scotland.
So if we have Rangers and RangersNewCo can we have twofurrapound?
Madmitch
Newco is only spouted by those that are in ABSOLUTE denial about the powers of HMRC and UEFA
Hail Hail
Steinreignedsupreme@15.16
Their 5 stars are to be replaced with 4 stars and an asterix.
Anyone with a contact at The Herald/Evening Times??
Make sure that someone sneaks under wee Darrell King’s desk and removes his laces.
Man Size box of hankies also required.
I thought I heard Brian Donohoe MP say this was a tragedy for the UK as a whole! Breathtaking arrogance!
Good Riddance
http://www.youtube.com/watch?v=CnQ8N1KacJc&ob=av2e
Parcel =>
Being doing the ironing, have I missed anything?
I cant stand this nonsense about needing a strong Rangers. What was said during the 90s and 9iar? nothing! but now all of a sudden Scottish football is doomed! Davie Provan you are a fud
Parcel ==> por cierto
Rangers will only be able to come out of administration when their main creditors agree to it.
Their main creditor by a considerably distance are HMRC. The chances of HMRC agreeing to them coming out of administration are nil.
The Huns have pushed their luck too far with the tax athorities and they will pay the price for that.
Liquidation is a certainty. Whoops … there goes the history…
James Matthews @SkyScot Close
#Rangers fans in tears outside Ibrox @skynews
Oh dearie me…
Charles Patrick Tully says:
14 February, 2012 at 15:07
Time to watch their advertisers and sponsors, only a matter of time before they pull out.
http://thedrum.co.uk/news/2012/02/14/rangers-fc-administration-ad-agency-and-sponsor-tennents-comment-situation
~~~~~~~~~~~~~~~~~~~~~~~~~
Aye,and I noticed that the spokesman from Tennents referred to Rangers and Celtic.
Always a way to spot a hun,IMO,and I know I sound a bit ff-ish there.
It’s the Kilwinning mentality.
I console myself with the knowledge that he has referred to the-sorry,fellas-Old Firm as RC.
LITTLE VICTORIES….
Leeds where given a 10 point penalty for entering Admin, following dodgy goings on the FL then deducted them a further 15 points for not following the league rules for going into administration. Leeds are the same company as they always have been but with slight name tweeks and ownership.
http://en.wikipedia.org/wiki/Leeds_United_Football_Club_Limited