None of you will be surprised at today’s opinion from the Court of Session in Edinburgh that Rangers’ deal with Ticketus cannot be set aside, despite some absolutely pitiful reporting to the contrary. It’s fine to get things wrong every now and then, we all get Duff information on occasion, but please….
It’s worth recording, Ticketus may only have paid £20m + vat but the tickets they own are worth in the region of £40m. High risk investments require a high return.
Rangers’ administrators argued that the deal inhibited their ability to rescue the company but the heroic Blue Knights submitted a bid accommodating Ticketus, undermining the administrators’ argument. If only the Blue Knights were in a position to strike a deal with Craig Whyte they could be regarded as helping the situation instead of being hapless fools.
Next up is HMRC, who have not capitulated and agreed to accept a few pennies in the pound. They have not agreed to accept anything less than all monies owed. Soon after that we will hear that no court has been able to set aside Craig Whyte’s security over Ibrox. The most underappreciated man no longer in Scotland remains the only person with a reasonable chance of phoenix-ing Rangers.
The first 26,000 (approx.) tickets sold to each Rangers game for the next three years are owned by Ticketus. In the event a phoenix occurs, Rangers will have to revert back to budgets from their glory days of the 1950s – we will soon be told this is a great omen.
If you are going to Ibrox on Sunday, take care and enjoy your visit. Take photographs of the occasion and send them in, we’ll perhaps use them on a future edition of CQN Magazine. It may prove to be the end of an era.
If you’ve not read the article below, about one of Jinky’s great performances, do so now.
Issue 7 of CQN Magazine is out now! Go to the dedicated magazine site here to read it properly (which you’ll not be able to do below).
Thanks to everyone who has bought a hard copies of the magazine, it looks like the sold out sign will go up again. Order your copy for delivery by clicking on the link below for news and views from Celtic supporters.
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Court cases very soon
so what did Duff and Duffer want to get out from the court case about Ticketus, and how will they play the judgement
brilliant, Lord Hodge couldnt make a ruling as there wasnt enough info about the bids, HA HA HA!! so the bids are total pash then? :)
Has one of the big known unknowns now become a known known or is it an unknown known? I don’t know.
Duff and Duffer and Bluffer.. are
Jist … Actin like .. Ah wid Expect they wid..
They hiv jist suffered a Defeat..and they wullnae admit it.
Par, fur the course.. really.
Kojo
Still Laughin’
Hey, what’s wrong with us Tims?
Don’t we all realise that on FollowFollow the Ticketus decision is being touted as a GOOD thing?
You see, they are now ‘just’ a normal creditor, NOT a major creditor (‘cos £24 million isn’t a major amount of mojey, kids!) and they will accept 10p in the pound through a CVA just like EVERY other creditor including HMRC!
Awesome, kids! Go Gers!
Tomorrow: why smoking, alcohol and asbestos are actually BENEFICIAL to your health!
Talking of tickets………..need at least one for Sunday , any help welcome!!
Only the Laptop Loyal could make the Ticketus verdict as a positive for rangers. They are deemed a creditor but according to STV the administer can just forget them.
jmccormick on 23 March, 2012 at 18:08 said:
Talking of tickets………..need at least one for Sunday , any help welcome!!
scroll back someone was offering two….can’t remember who though sorry!!
Kojo, thanks :-)
My take was D&P wanted the deal ripped up, they left court with the deal still in place and it’s up to them (or the new owner) to break the deal.
Others are saying it’s good news, if the Admin break the deal, then Ticketus become creditors just like the rest.
Maybe I’m better off having a drink, that might make it clearer…..:-)
If any other club in the world had cheated and were put into administration they would be a laughing stock in the media.
If any other club couldn’t even get their own appointed administrator to cut staffing costs and overheads without a drama questions would be asked in the media.
If any other business went to court to break a legally binding contract they would be called crooks.
The administrators are acting like Huns, why are they bothered about the Huns future? Their job is to secure as much as possible for current creditors.
Mark Dingwall is a rocket..
This puts a take over bid in question. They would be buying into a venture with £15m owing the tax man .£6 m a year to Ticketus and a £10m gap in their finances per annum.
They would also have the FTT result hovering.
Tick tock to liquidation. Newco will struggle to make it for next season in any league.
The longer they leave it the sands of time increase.
Diff and Duffer are playing a blunder……oops spell check….naw leave it..
Monoprotic
Polyprotic
Citric
Malic
I dont know, http://www.youtube.com/watch?feature=player_embedded&v=9HmJQyS8QVw
How cool is this A marshall amp fridge!
Marshall fridge
TET – Buenas tardes amigo, had my first round of the year yesterday; a very surprising 79 blows:) kept the left bat straight and swung at 75% most of the time, great advice and thanks again. I’m looking forward to the new season with much optimism. Sunday will bring a special brand of hunthuggery, i hope our bhoys are up for it. This is sneaky sallys last hurrah and he has only one tactic for us. Win the midfield Celtic then win the match, as opined by birthday bhoy Bertie:)
slainte
tony
George @drummogo Reply Retweet Favorite · Open
I have two spare tickets for the Broamloan stand for Sunday selling face value £42 each 07768575751 #HH
I`ll take them , !!
Song for Sunday
Here is a little song I wrote
You might want to sing it note for note
Don’t worry be happy
In every life we have some trouble
When you worry you make it double
Don’t worry, be happy……
Ain’t got no place to lay your head
Somebody came and took your bed
Don’t worry, be happy
The land lord say your rent is late
He may have to litigate
Don’t worry, be happy
Lood at me I am happy
Don’t worry, be happy
Here I give you my phone number
When you worry call me
I make you happy
Don’t worry, be happy
Ain’t got no cash, ain’t got no style
Ain’t got not girl to make you smile
But don’t worry be happy
Cause when you worry
Your face will frown
And that will bring everybody down
So don’t worry, be happy (now)…..
There is this little song I wrote
I hope you learn it note for note
Like good little children
Don’t worry, be happy
Listen to what I say
In your life expect some trouble
But when you worry
You make it double
Don’t worry, be happy……
Don’t worry don’t do it, be happy
Put a smile onyour face
Don’t bring everybody down like this
Don’t worry, it will soon past
Whatever it is
Don’t worry, be happy
Just phoned the bank and informed them that I recognise them as a creditor but I am choosing to ignore our agreement about my loan.
I can expect the Sherrif Officers to pay me a visit apparently… :(
Correct me if I’m wrong here but why are the Huns depending on Paul Murray, thought he doesn’t pass fit & proper ?
stv showing every goal angers have scored against us in the last 50 years.
bhoys time to step up and put the dagger through the heart.
The Administrators must be loveing this another week has past and they have there fee.The weeks roll on and the administrators coffers get fuller and fuller and Rangers are no nearer being rescued tonight than the day they went into tadministration.Liquidation still appears to be the most likely outcome.
Jug McCluggoch “the players who have played a
a few O F games will help the players who have only
played one or two on their O F debuts ??????????????
I’m lost as well.
gordybhoy64 on 23 March, 2012 at 15:18
have you tried http://iceltic.net/
its by Seamus, a fine Celtic man
contact him via twitter
@iceltic
I don’t want them liquidated.
I want The Blue Meanies to take them over.
Encumbered by debt,
and having to borrow even more money to be able to afford the purchase price.
The Blue Meanies don’t have deep enough pockets.
Have them stripped of their tainted titles for contractural irregularities between the Players , the club and the SFA.
Liquidation is what Craig Whyte wants.
No debt , more profit for him.
TT
jmccormick
They’re sold :-(
Administrator’s lose the case against Ticketbus.
Administrator’s this is great news for ra berrs.
Duff and Duffer the answer to every denial berrs prayers!!
No matter what happens it’s good news…
Let see them spin it when we gub them on Sunday..
C’mon Celts let’s get this done..
No Mercy..
SP
miki67
how come you cant comment on the gers one?
hamiltontim on 23 March, 2012 at 18:24 said:
jmccormick
They’re sold :-(
Thanks , I know now. I am off out on coaching duties, re arranged Sundays game cos of Ipox game, I am taking a chance but can be texted on 07768 703167 if anyone can help , will drive tomorrow to collect and pay.
Hail! Hail!
Paul67
Just in from work to find my Cqn magazine waiting for me, just a had a quick look after my tea and it looks good.
Read earlier that ticketus had won their case but driving home the radio states the administrators are happy with the decision as they can literally tear up the deal. Anybody know what the real story is as I,m none the wiser (nothing new there)
What song do we think Willie will do on his Fisherprice keyboard next week?
starry plough
Spot on. Essentially whatever decision Paddy Hodge dished out was always going to be good news as far as Dim and Dimmer were concerned.
You have to wonder who those jokers are actually acting on behalf of as opposed to who they are meant to be acting on behalf of.
And their dosh keeps on coming.
!!Bada Bing!! Kano 1000 on 23 March, 2012 at 17:39 said:
Auldheid- No need to shout :}
—————————
I know, but every second day somebody comes on and asks that question. I appreciate the quick moving nature of the blog means answers are missed but it just keeps on being asked.
Auld Neil Lennon heid on 23 March, 2012 at 18:36 said:
What was the question? :O)
Auldheid-But i heard…………..:} HH.
VP-Scroll back fur yersel :}
Paul,
Patrick Hodge’s concluding paragraph is as follows:
“[63] I conclude that the legal nature of the rights which Ticketus has in the Ibrox stadium, the season tickets for that stadium and the proceeds of future sales of the season tickets are purely personal contractual rights. ”
Ticketus have bought season tickets from RFC and have appointed the club as their agents to collect payment for those tickets. It is not possible to have a contract with a stadium. If Rangers (IA) is sold as a going concern, the contract is a valid one. If Rangers (IA) are liquidated, its contractual obligations are only fulfilled to the extent of a percentage paid out to all of the unsecured creditors.
Craig Whyte may have given Ticketus personal guarantees based on his position as holder of a floating charge. For example, he may have agreed(contracted) to pay Ticketus £24M on crystallisation of the floating charge. Again, this is only a personal contract and is risky in that assents attached by the charge may not realise this sum.
HH
Monaghan
GourockEmeraldBhoy on 23 March, 2012 at 18:30 said:
Cutting through the crap, Ticketus are out £24M and will want it back, one way or another. They have actually paid more for Rangers than CW has and the idea they will be left empty handed is absurd.
Litigation with a possible embargo on selling tickets until they get paid is one likely outcome.