Football debts and non-football debts are often dealt with differently by club administrators. Un-secured creditors generally have to wait in line but a football club has a different mechanism to regain lost income.
Rangers FC PLC (in administration), as the excellent Paul McConville informed us the club should legally now be referred to, owe money to Dundee United for the recent Scottish Cup game, Hearts for the transfer of Lee Wallace and Dunfermline for tickets for last Saturday’s league game. All three clubs have recourse to the SPL and SFA if the administrator hangs them out to dry, but they will not be the most pressing concerns for Rangers FC PLC (in administration).
Inverness Caledonian Thistle are due money for tickets provided to Rangers FC PLC (in administration) for their match at Inverness later this month. Rangers FC PLC (in administration) have sold tickets for this match and will, presumably, continue to do so, however, the administrator will have to decide on a course of action:
Pay Inverness or withhold the money for other purposes and ask the club to admit their fans without payment.
In this instance, other purposes would be: payment of their administration fees, payment of other creditors, payment of footballers to face Inverness.
How Rangers FC PLC (in administration) deal with Inverness will be an early concern, but our old friends Rapid Vienna, who are due the final payment of the Nikica Jelavic transfer, will complicate matters further down the line. Their recourse will be to Fifa, who ensure transfer fees are paid, without reference to administration or even a prepack liquidation.
The concerns Celtic Quick News first raised in October about a prepack fait accompli being offered to the SPL now feels less threatening.
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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voguepunter: 15 February, 2012 at 14:21
I think you may be referring to Leggat’s classic: “Whyte is a poker player from the top drawer.” quote.
Old Jakey always gets it right…
philvisreturns says:
15 February, 2012 at 13:06
I never missed a lecture from Prof Devine as an undergraduate – I remember meeting him at a Celtic Rangers final at Hampden – he just smiled and nodded knowingly- didn’t improve my grades as I hoped it might though :-)
I’ve been to a few evening Lectures of his (with my Brother who is a History Teacher) to hear his views on Irish / Scottish matters – he is a true intellectual force – just the kind of commentator that the BBC biased media are terrified of..he is BS-proof , with world reputation behind him. I tend to take more notice of his views that say…Chick Young, Graeme Speirs, Jim Traynor etc..ha!
BadaBing – ESTA Form, i’m pretty sure you can complete it online:
https://esta.cbp.dhs.gov
slainte
tony
Rangers FC PLC (in administration) has a nice ring to it.
For whom the bell tolls?
Does anyone know any bars in Monaco showing the Rangers FC PLC ( In Administration) game on Sat? My mate Craig’s staying over there for a bit….trying to help him out he’s a bit of a hero amongest the bhoys
I was over in Ireland a while back and had the privilege of meeting a former chaplain to H-Block. He told many interesting stories but the one which sticks in my mind was the following:
He described how when new Republican prisoners arrived, they would be given a day to get ‘acclimatized’, then they would be visited by a senior prisoner. They would be asked what qualifications they had from school. They would be ordered to take a certain amount of subjects on the prison education programme. It wasnt a ‘request.’
Loyalists spent their time…. pumpin iron! (No there wasnt a loyalist called iron.)
I think of that every time I hear the ‘Catholic schools are to blame’, argument. They unwittingly point their finger at a ‘truth’ in all of this. The real difference. The DESIRE to become more educated, thoughtful, reasoned, moral and aware and even principled. That is one of the deeper reasons behind what is presently happening.
tom the leeds tim
can’t confirm but why would he leave any money behind ?
TheOriginalSadiesBhoy says:
15 February, 2012 at 10:30
Thanks for that – I hear Kirsty this morning and her baulk at the suggestion from Speirs that rangers should be relegated – my first thought was – “oh so she is a hun as well” ….. then I corrected myself and thought no dont be daft they are not all like that.
Then I read your comment ……………….gut instincts and all that.
cheers
share
Changing topic for a moment, our B team for today is a pretty formidable line up:
Celtic Dev XI to face Huddersfield (4-4-2) Zaluska; Cha, Fraser, Blackman, Izaguirre; Commons, Ki, Juarez, McCourt; Ibrahim, Rasmussen
HH
Huns have set up a petition begging the PM to bail them out
see here
http://epetitions.direct.gov.uk/petitions/29635
Embarrassing
I’m no financial whizzkid so bear with me…
Given that Administrators need to get 75% of creditors by value to agree to compromise…does that explain why Whyte has been withholding HMRC tax money since he came in? Is he keen to see the £49 rise to £75m in the hope that they will not compromise and therefore bursts the possibility of Administrators reaching their 75% (by value)?
Therfore leading to a quick route to Liquidation and thereafter sale..personal gain as preferred crditor..penny dropping…I think?
Where is the Celtic PLC statement? :-(
SSN Latest news from Hunsvile (I meant to spell it that way)Cousins signing might not happen not registared Hearts Dundee Unt Pars might not get their money.These numpties are good at history but not news more interested in cricket
South of Tunis
Interesting rule of the road in Palermo. When a queue of traffic is going through a green traffic light and someone does something dumb that holds them up for let’s say 10 seconds. When the light goes red, cars can keep going through the red light for those lost 10 seconds.
My dear,dear,dear,friend.. Tully57… Luv the I.D. pal!!
Thanks fur the Nod, Palomine.. Ye are sae Kind.
Ye hiv goat.. Ally , taped, awe right..
He is oota his Element.. in his present Capacity of a Guy who is
Charged wi’ Being ..In Charge..o.. well.. Anything!
As Ma sainted Aunt, Mat.. used tae say..
” He couldnae run a Menage!”
Ah never did quite follow whit she meant, by that..
But.,.
An am Sure that Musta hiv She Hid .. Coisty ,in Mind ,when she said THAT!
Kojo
yer pal.. who l agrees wi everthing that Ye Jist Wrote!
Steinreignedsupreme – Want a laugh? Ask Google what the worlds definition of “p**h stained alky” is……
The Idiot at 14:43
Just 99,216 more signatures before the e-petition could be debated in the House of Commons.
Mort
oglach says:
15 February, 2012 at 14:44
Where is the Celtic PLC statement? :-(
——————————————
It’s too early for that. If DD and PL have any sense they’ll wait until R*ngers have hanged themselves, and the extent of their cheating is revealed, then they’ll make their statement, petitioning for the record-books to be altered.
Dynamo Govan: “0 titles and hoping”
The Idiot says:
15 February, 2012 at 14:43
I’m thinking of this as an ePetition. Anyone support this?
Rangers Football Club are one of the biggest sporting insitutions in Britain in terms of the amount of money they have stolen from the public purse.
There is a need for a swift resolution to the tax case with HMRC so that we can all be shot of them once and for all.
Will the Prime Minister act appropriately when it comes to Rangers FC and point out to their supporters that if the club had paid their taxes there would have been enough extra money in the kitty to ensure a poppy appeal wasn’t required for years come.
Ladbrokes Tweet. They are paying out on us winning the League.
Battered Bunnet : well said.
With all that’s happening at their club,their main obsession is to up the sectarianism & bigotry,along with incitement to violence which I fully expect them to unleash this weekend.
They also have the horrible effect of giving me truly heinous thoughts towards The Unclean.
jock steins celtic says:
15 February, 2012 at 14:42
tom the leeds tim
can’t confirm but why would he leave any money behind ?
It wasn’t my question mate, it was Paul Mac on RTC asking more esteemed posters than myself.
I don’t think he would leave any money behind myself – monorails are notoriously expensive to build.
LyleLanleyCSC
South of Tunis/Silver City,
Ive mentioned on here before my “enjoyment” at driving in Sicily (mainly confined to the Catania airport – Siracusa/Augusta return journey).
Until the last year or so that was without doubt the most hair raising driving experience i’d ever faced.
However have to admit that in the time since I have now experienced 2 journeys worse, 1 in Indonesia and 1 in Vietnam. The Indonesian one being the worse of the 2!
Single lane road, us in jeep with 2 mopeds/scooters inside us, (the inside one of those carrying what i would imagine was a full family ie dad mum and 2 kids!!), a lorry overtaking us and a motorbike overtaking the lorry……all the while coming towards us a similar combination of vehicles……all on a 2 lane road!!!
That happened on several occasions during the 3 hr journey that was without doubt the most scared I have ever been in a vehicle. I honestly closed my eyes and prayed on at least 3 occasions convinced that I would be at the very least hospitalised if not on my way (hopefully) to the pearly gates……
I have since told our agent that he can go on his own to visit that particular customer!
HAIL! HAIL!
Token
Silver City 14.45 ‘Palermo rules of the road’
Brilliant. Could we apply that kind of logic re lost revenue due to huns cheating?
They are definitely at a red light right now!
El Mad
As much as I loathe getting away from talking about ex-Rangers I need a wee bit of help.
At a birthday bash this wknd. Staying in a village called KIRKMICHAEL???? near Pitlochry.
Could anyone point me in the direction of a pub that will be showing the game on Sunday?
I don’t care if it resembles the ‘slaughtered lamb’ frm an American Werewolf in London, as long as it’s showing the famous Glasgow Celtic and serves bevvy i’m h.a.p.p.y.
brimmer
Lads to help with the celebrations (hopefully) I have been told that connections expect Another Jewel to be placed in the 3.35 at Fairyhouse
Currently 33/1
Lets hope its placed (but not last)
Biscuit Tin Beats Succulent Lamb any Day CSC
CultsBhoy loves being 1st 15 February, 2012 at 14:44:
It’s 75% of non secured/prefered creditors that’s involved in the vote.
The secured/prefered creditors will have already filled their boots. HMRC would only need 25% of the non secured/prefered debt to veto any CVA.
They will have closer to 90%.
Ah draw Ma Readers Attention tae This report in the
News Now Celtic section..written by Mr. Hay.
It really brings oot the Stark and Serious REALITY of
Whit.. .. The Entrance into Administration .. by a Club..
Diz .. and the ensuin’ Calamitous Financial Effects it Brings doon oan a Club and the LIVES… o’ it’s Employees..
Yes, Virginia..
Tae Enter inta The Maw o’ Adminstration.. is Jist Nae
Picnic… Tae They wha Dare.
Kojo.
Who nevertheless..
Is Still Laughin’!
Had a crazy thought there that Rangers might actually try to buy Hearts and rename them given Romanov wants to sell, could take the name and leave Romanov with the stadium to sell and probably get it for the same price Whyte paid for Rangers. But then I realised they’re £30m-odd in debt as well.
Why is Whyte not been arrested? sureley there must be some criminal activity
in all of this,wil the police be involved at all in any of this not forgetting Murray et al
or do they all walk away scot free,with pockets stashed with taxpayers money
“Whyte is a poker player from the top drawer.”
I wish he’d come to my flat when I have the lads round then.
I’d make a few bob from him alright…… …..Oh hang on.
‘Money up front before yer chips Whytey my son’!
(cue tumbleweed)
‘Bye then Whytey’!
brimmer
tom the leeds tim
I was just answering in general terms. My feeling, just a feeling mind, is that the Administrators will find the coffers empty and there will simply be no money to continue.
All the carpets in Ibrox have mysteriously disappeared.
No tacks, see.
http://www.youtube.com/watch?v=3CdKuLRmg8k
HMRC’s top man takes charge … and Rangers get what they deserve ….
Clyde News leading with Government ready to step in to save Rangers.
Story being the Sports Minister having a meeting today and seeking assurances on jobs.
This is the start of the political sideshow and it’s the rhetoric of the pre-pack – save jobs.
Game on.
brimmer says:
15 February, 2012 at 14:57
As much as I loathe getting away from talking about ex-Rangers I need a wee bit of help.
At a birthday bash this wknd. Staying in a village called KIRKMICHAEL
**************
If memory serves me mate, only one pub and a very small private hotel in Kirkmichael.
Good luck.
Pleeeeeeeeeeease tell me it’s true that SSN are reporting that Cousin has signed for the huns but won’t be registered to play in the SPL so can only play in the errmm……… cups.
Lochgoilhead bhoy
Take out the cheap shots and emotion and I am sure that you would get your 100,000 folk.
We need to make the folk who do hold power and are obsessed by popularity…..MSP /MPs
Realise that the majority are not as the media would have them think……worried about 200 jobs at ibrox….
The majority are disgusted with what apprears to be blatant attempts to defraud the HMRC on an unprecedented scale.
Any attempts not to maximise the penalties on those involved in the sustained attempts to do this by ALL involved in running this institution which as long held itself above the law must be dealt with in the strongest possible manner to set a clear moral compass.