Stewart Regan today gave a welcome update on the SFA’s on-going investigation into Rangers. In response to Hugh Adam’s comments in today’s Daily Mail, Regan said:
“We are, however, aware of the most recent allegations made against Rangers FC today by a former director of the club. We shall investigate this matter thoroughly before making any further comment.”
SFA president, Campell Ogilvie, was general secretary and director of Rangers from 1978 until 2005. News broke about HMRC’s dispute over Rangers Employment Benefit Trust in 2010, you knew then, I knew then, the SFA knew then, but Ogilvie was subsequently elevated to the role of SFA president in 2011. He is still on the SFA board.
We have waited almost two years the hear the SFA would investigate this matter. Now, with all the old certainties crumbling down around them, they realise they must act.
Can I be the first to congratulate Dundee FC on winning the Scottish Cup in 2003.
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Posted this earlier.
An administrator is appointed to rescue a company and they have to work in the best interests of all creditors. This is usually achieved by way of a CVA being agreed by 75% of creditors. To my knowledge this hasn’t been done yet, nor has there been anything reported that this is likely to happen soon.
If they can’t get this agreed, the only way forward is liquidation and this has to happen as soon as possible so that any assets left in the company are not further depleted. Working capital will class as an asset and if there is no other option other than liquidation, an administrator cannot simply allow the money to run out before liquidation.
If the administrator knows or should know that liquidation is the only option, it has to happen very quickly. A delay which causes available funds to be depleted will constitute an offence, either fraudulent trading or wrongful trading. If proved, the administrator can be asked to contribute to the realised assets for creditors.
This is the important point. HMRC don’t really care where their money comes from, they just want paid what is due. Could they be playing a long game here? It’s taken so long for them to get their money, another year or so won’t make much difference so could they have acquiesced to Duff and Phelps being appointed administrators hoping that if they give them enough rope, they could hang themselves?
Might be a bit far fetched, but Duff and Phelps are quite a large organisation and could make quite a substantial contribution to assets is any wrong doing was proved. HMRC could just sit it out and wait until liquidation and then send in investigators to see if Duff and Phelps did everything in their power to get as much for all creditors. If not, they could sue them for some contribution.
Like I say, it might not be likely but just one scenario I have thought off.
Mort
weeminger on 2 March, 2012 at 13:48 said:
I suspect that decision has been made and the announcement will be made public once the players are at home and away from the media. Regarding the EBT’s.
There is a new Sunday tabloid which is desperate to make it’s mark and get readers.
This is the biggest story in Scottish football history and someone must know something.
There must be a player out there willing to spill the beans for 30 pieces of silver.
Somone skint who doesn’t have to worry about repercussions.
Step forward Colin Hendry.
What do you know???
LB
kitalba on 2 March, 2012 at 13:52 said
I’ll have a look and see if I can get them – just 1990 RFC or are you wanting MIH as well?
Awe Naw 13:45
Totally agree with you on this. McCoist and Smith probably felt genuinely honoured to carry Tommy’s coffin, but I know for a fact their act was not well received by some of their own, as you’d expect anyway. If they knew about their club’s underhand moves, which they surely did, it must have been unbearable for them, unless they have a heart of stone.
Yes, the silence from both when NL was going through hell, was either the height of ignorance or another act of panderism to the bigots.
hh
LiviBhoy on 2 March, 2012 at 14:00 said:
Was thinking about this myself, we could probably club together enough to get one of them to spill the beans…
Awe_Naw @ 13:56
Yep.
The eastern world, it is exploding
Violence flarin’, bullets loadin’
You’re old enough to kill, but not for votin’
You don’t believe in war, but what’s that gun you’re totin’
And even the Jordan River has bodies floatin’
But you tell me
Over and over and over again, my friend
Ah, you don’t believe
We’re on the eve
of destruction.
Don’t you understand what I’m tryin’ to say
Can’t you feel the fears I’m feelin’ today?
If the button is pushed, there’s no runnin’ away
There’ll be no one to save, with the world in a grave
[Take a look around ya boy, it’s bound to scare ya boy]
And you tell me
Over and over and over again, my friend
Ah, you don’t believe
We’re on the eve
of destruction.
Yeah, my blood’s so mad feels like coagulatin’
I’m sitting here just contemplatin’
I can’t twist the truth, it knows no regulation.
Handful of senators don’t pass legislation
And marches alone can’t bring integration
When human respect is disintegratin’
This whole crazy world is just too frustratin’
And you tell me
Over and over and over again, my friend
Ah, you don’t believe
We’re on the eve
of destruction.
Think of all the hate there is in Red China
Then take a look around to Selma, Alabama
You may leave here for 4 days in space
But when you return, it’s the same old place
The poundin’ of the drums, the pride and disgrace
You can bury your dead, but don’t leave a trace
Hate your next-door neighbor, but don’t forget to say grace
And, tell me over and over and over and over again, my friend
You don’t believe
We’re on the eve
Of destruction
Mm, no no, you don’t believe
We’re on the eve
of destruction.
Stand and Deliver – Adam And The HMRC (thumbsup)
Heroes & villains : beach boys
it’s all over now, baby blue : bob dylan
it’s too late : Carol King
PC67
I’ve just noticed the top right greets my login with “Howdy” ?!
Is this now “Cowboy Quick News” in tribute to Agent Whyte, who indeed has already ridden off into the sunset ?? :D
cheers boys.
for some reason i had Winchester club in my head, dont know why
Cont(r)act-Edwin Starr
I have heard that Papac exited Murray Park well before the rest of the players.
Could he have just chucked it?
Could he have been told and didn’t toe the line?
Could he just be injured?
LB
Some people are just visionary.
Rangers have been dubbed “the stupidest club in Europe” by France Football magazine. Senior correspondent Christophe Larcher condemned Rangers in a scathing attack on Strasbourg’s opponents in the UEFA Cup first round. He said, “Rangers have spent fortunes on second-rate players and they keep getting knocked out in the first round of European competition. For these reasons they deserve the title of the stupidest club in the continent. As if further proof was needed, they went out against Gothenburg in the European Cup qualifiers after a 3-0 thrashing in Sweden.”
Christophe Larcher (France Football) 3 September 1997
Ten Men Won The League
11 players out the door on Monday?
Why Monday? Surely the players will get paid for their work tomorrow, so why not sack them now and fulfill their duty to creditors?
Sack the Hoard.
FFB
You can hide the blog tool bar in your profile.
Re: Dumb & Duffer…..
The greater the mountain of evidence…
The louder I hear this voice in my head saying….
“Scotland IS the huns, the huns ARE Scotland!!!” mmm
I’ll believe it when I see it – CSC
Hail! Hail!
paul67, phil, RTC and neil lennon hunskelpers extordinaire.. take a bow
Well done Dundee. Worthy winners.
To paraphrase Gore Vidal:
Craig Whyte is the only genius with an IQ of 60.
‘GG
:) It doesn’t offend me!
Kitalba – just went on Cos House website, can get 1990 accounts no probs for a quid – email Paul67 for my email address and I’ll reply with accounts attached. I’ll pay the £1!! Look at this below, lovely!
THE RANGERS FOOTBALL CLUB P.L.C.
IBROX STADIUM
GLASGOW
G51 2XD
Company No. SC004276
Status: In Administration
Date of Incorporation: 27/05/1899
Country of Origin: United Kingdom
Company Type: Public Limited Company
Nature of Business (SIC):
93120 – Activities of sport clubs
Accounting Reference Date: 30/06
Last Accounts Made Up To: 30/06/2010 (GROUP)
Next Accounts Due: 31/12/2011 OVERDUE
We’ll miss you Glasgow Rangers and stories we will tell
Of how Celtic came from Heaven and you lot came from Hell
And when they pull down Ibrox and I think it’s going to come
It’s the taxman’s way of saying, you should have done your sums.
As brick by brick it crumbles and your iron gates crash down
Just think of our St Fergus and how he turned us ’round
When every brick has fallen and you see there’s nothing left
You’ll hear the taxman whisper, that’s the price you pay for theft
Marrakesh Express at 14:02:
Most likely the antipathy of many Orcs to Walter’s and Ally’s carrying of the coffin would have something to do with the demands of Orangeism: cf. ‘Qualifications of an Orangeman’ (before you ask: taken from here: …http://www.scotland.gov.uk/Publications/2005/01/20583/50701, which actually offers a useful potted history of the history of the Orange Order in Scotland) :
“He should strenuously oppose the fatal errors and doctrines of the Church of Rome, and scrupulously avoid countenancing (by his presence or otherwise) any act or ceremony of Popish Worship. He should by all lawful means resist the ascendancy of that Church, its encroachments and the extension of its power, ever abstaining from all uncharitable words, actions or sentiments towards Roman Catholics.”
So even the presence of these 3 legneds [sic] in St Mary’s would have caused a certain degree of frothing at the mouth amongst Rangers diehards.
FF
Fat sleekit ally is playing a blinder with the huns and his pals in the MSM are praying that he remembers them on the way down.
He has been in on the cheating for years him walt & murray when the s*** hits the fan( soon) his actions now are in the hope of mercy from the hun hoardes
who will be permaraged.
Fat ally and smith have known of the cheating for years DONT FORGET THIS FACTwhen telling orcs what really happend to the bigot dome.
HAIL HAIL
You got to be crazy, you gotta have a real need
You gotta sleep on your toes and when you’re on the street
You got to be able to pick out the easy meat with your eyes closed
And then moving in silently, down wind and out of sight
You gotta strike when the moment is right without thinking
And after a while, you can work on points for style
Like the club tie, and the firm handshake
A certain look in the eye and an easy smile
You have to be trusted by the people that you lie to
So that when they turn their backs on you
You’ll get the chance to put the knife in
You gotta keep one eye looking over your shoulder
You know, it’s going to get harder, and harder, and harder
As you get older
Yeah, and in the end you’ll pack up and fly down south
Hide your head in the sand
Just another sad old man
All alone and dying of cancer
And when you lose control, you’ll reap the harvest you have sown
And as the fear grows, the bad blood slows and turns to stone
And it’s too late to lose the weight you used to need to throw around
So have a good drown, as you go down all alone
Dragged down by the stone
Gotta admit that I’m a little bit confused
Sometimes it seems to me as if I’m just being used
Gotta stay awake, gotta try and shake off this creeping malaise
If I don’t stand my own ground, how can I find my way out of this maze
Deaf, dumb and blind, you just keep on pretending
That everyone’s expendable, and no one has a real friend
And it seems to you the thing to do would be to isolate the winner
Everything’s done under the sun
But you believe at heart everyone’s a killer
Who was born in a house full of pain
Who was trained not to spit in the fan
Who was told what to do by the man
Who was broken by trained personnel
Who was fitted with collar and chain
Who was given a pat on the back
Who was breaking away from the pack
Who was only a stranger at home
Who was ground down in the end
Who was found dead on the phone
Who was dragged down by the stone
Who was dragged down by the stone
You must leave now, take what you need, you think will last
But whatever you wish to keep, you better grab it fast
Yonder stands your orphan with his gun
Crying like a fire in the sun
Look out the Celts are comin’ through
And it’s all over now, Baby Blue
The highway is for gamblers, better use your sense
Take what you have gathered from coincidence
The empty-handed Whyte Knight from your streets
Is drawing crazy patterns on your sheets
This sky, too, is folding under you
And it’s all over now, Baby Blue
All your seasick sailors, they are rowing home
All your bluenose armies, are all going home
The Minty who just walked out your door
Has taken all his blankets from the floor
The carpet, too, is moving under you
And it’s all over now, Baby Blue
Leave your medals behind, something calls for you
Forget the dead you’ve left, they will not follow you
The vagabond who’s rapping at your door
Is standing in the clothes that you once wore
Strike another match, go start anew
And it’s all over now, Baby Blue
Brass In Pocket – The Pretenders (thumbsup)
looks like jelly and ice cream is on the menu again today
SSN now saying players are off home, to prepare for tomorrows match.What is going on ?
RANGERS stars have been warned the administrator will swing the axe unless they agree to take thumping 75 per cent wage cuts.
The Ibrox squad has been told that £4.5million must be wiped off the wage bill between now and the end of the season.
Manager Ally McCoist and PFA Scotland chief Fraser Wishart spoke to the players yesterday.
Three proposals were put forward:
If they all agree to take just a quarter of their wages, the club would avoid sacking players.
If they take a 50 per cent cut, eight players would go.
If they take a 30 per cent, 11 players would go.
The administrators have drawn up a list of players who will be axed which will come into play if the players can’t decide amongst themselves. Ashen-faced McCoist admitted he has sympathy for all the players and conceded that he might struggle to put a team out if the decision has to go back into the hands of the administrators.
There is certainly a will within the squad to take cuts and to help the club
A senior player
The Rangers players were unable to come to a collective decision last night and have been told they must make their minds up by today.
McCoist and his backroom staff have also volunteered to take cuts to aid the process and save jobs.
The players were willing to take 40 per cent cuts but were left gobsmacked when they were told it would take 75 per cent to save all the players.
A senior player told Express Sport: “A 75 per cent cut is a bit severe. I know for a fact some of the boys couldn’t afford to take such a cut, even if it is deferred, although even then there is no guarantee we will get our money
Doing this kept me amused whilst waiting for another new article to be posted.
Three wheels on my wagon,
And I’m still rolling along
The bloggers are chasing me
Arrows fly, right on by
But I’m singing a happy song
I’m singing a higgity, haggity, hoggety, high
Rangers, they never say die
A mile up the road there’s a hidden cave
And we can watch those bloggers
Go galloping by
SPOKEN: “Craigie, they’re catching up to us!”
“Get back in the wagon Ally!”
Two wheels on my wagon,
And I’m still rolling along
Them Bloggers are after me
Traynor and Spiers, are all in tears
But I’m singing a happy song
SPOKEN: “Duh, Craigie? Are you sure this is the right way?”
“Will you hush up? You and your rules!”
One wheel on my wagon,
And I’m still rolling along
Them bloggers after me
I’m all in flames, at the reins
But I’m singing a happy song
I’m singing a higgity, haggity hoggety, high
Rangers, they never say die
Right around that turn there’s a hidden cave
And we can watch those bloggers
Go galloping by
SPOKEN: “Craigie? Should I get the bag of beads and medals?”
“Ally, I know what I’m doing!”
No wheels on my wagon,
So I’m not rolling along
The bloggers captured me
They look mad, things look bad
But I’m singing a happy song
SPOKEN: “C’mon all you bloggers sing along with me!”
Higgity, haggity hoggety, high
Rangers, they never say die…
I will now leave the parodies to this who have proven themselves more adept than I.
I wrote to the Daily Record about the non-functioning link to Peter Lawwell’s rebuttal of the Rangers’ tickets story. Here’s the reply:
, the link on the Record Website to the Peter Lawwell letter was taken down as a result of a review of information relating to the original story. We are still in communication with Celtic over this issue and I am sure you will appreciate it would be wrong of me to go into detail about this whilst this continues. Aidan McGurran, Deputy Managing Editor.
Follow Follow reaction to todays news
http://i.imgur.com/J73ae.jpg
HH
hen1rik on 2 March, 2012 at 13:39 said:
Lads this is torture trying to keep up lol.
My own opinion would be to get UEFA involved because i do not trust this lot one bit.
share
it is obvious that you all scroll by my posts, as ive been saying this since this whole story broke .
jimtim
Chris McLaughlin @BBCchrismclaug
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FavoritedFavorite · Close Open Details #Rangers players told to go home and prepare for game tomorrow. Discussions ongoing.
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 2 March, 2012 at 14:15 said
Awe naw, i remove my musical cap and bow at your feet.
An absolute classic. Listened to the full album for the first time in ages last week.
PC67