News that a new company, “Glasgow Rangers Limited”, has been registered today with an address matching a waste management company in Buckinghamshire, has delicious irony but in itself means little. After Rangers owner, Craig Whyte, laid out all sorts of medium-term scenarios for the club in media interviews last week a land-rush for fresh rangers intellectual property, including a company name, should be expected.
If those with secured property rights over Ibrox are busy forming a new company, they are unlikely to be the only ones.
Still, waste management. It’s perfectly scripted.
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SFFS
Yes I do but administration will not be the end of them. Even if they are insolvent the establishment will find a way of protecting them (probably with little resistance from Celtic).
Would dearly love to see them start again at the bottom but it will not happen.
……………………………………………………….
Seven Fishes Four Steaks says:
25 October, 2011 at 19:12
aldersyde avenue,
Do you not think/believe Rangers will go into administration?
SFFS
Weeminger:
Saw your Q? on the RTC blog – check 10 down on list.
Jordan Nominees
jeez … they STILL believe someone is waiting out there in the wings to ride into the rescue when it all goes south
Oh this is gonna hurt them peepel when the Big Bang comes !!
TET,
dont see where he can go.
But I did say a while ago, finding the smaller tax case sealed the deal, if he can liquidate against the small case then the bigger case disappears as they are no longer trading.
But if the taxman is indeed moving off the creditors list, then regardless of his machinations he will still be responsible for the big case as they will go after all the creditor companies to recover all profit made from the liquidation.
Houl yer wheest.
Bugger! Just when I thought I was starting to get a handle on things.
One of the most interesting things from the documentary last week was Aliatair Johnstone saying he received a call from Lloyds insisting the independent committee took the deal. That opens the scenario where the £18 million was paid – but not necessarily by CW?
My team v Hibs for what its worth
ZALUSKA
MATTHEWS DAN ROGNE EL HAJ
WILSON
MCCOURT WANYAMA KI LEDLEY
STOKES
4141 – The way to go
Canamalar. They have already been given the big bill. It won’t disappear. In admin a decision will have to be taken whether to continue with the ftt. But the bill is there and won’t go away.
let’s all laugh at rangers ha ha ha ha
Until we meet again…
Keep the Faith!
Hail Hail!
canamalar
What THM said is corect, the park and the training ground will have to go, if as you said the tax man is using this as a test case, he won’t walk away, or do a deal.
pintaguinness says:
25 October, 2011 at 19:34
El Haj at left back? Are you sure that’s what you want?
A relatively sane hun (Colin I think) was on Snyde earlier on. He let himself down though with his belief that we want them to go into admin just so that we can win the league. He doesn’t get it. If they do go belly up and we win the SPL then an 11 point advantage over Rankers would only be seen as an acceptable outcome to me.
Lloyds had two options.
1 – Stick with the current owners with no payment in sight and constantly being blamed for any and all rangers problems.
2 – Take the new owners who would pay the lot if they avoided the large tax case.
A no-brainer for Lloyds.
THM,
if the company is insolvent and liquidated they no longer exist, the taxman has no one to go after, however they do have a say whether to allow administration/liquidation.
Lurgan 53
could the 18 squigglies be guaranteed by somebody else with a cash surplus
18+snow whytes helpers =
jockcfc says:
25 October, 2011 at 19:38
hahahahahahahahahahhahahahahahahaha
Canamalar.
The bill is already there. Hmrc is a creditor. After secured and preferential creditors are paid off (whyte), hmrc as a creditor will be paid out of the proceeds of admin, receivership, liquidation. They can’t escape the big bill.
Rieperman says:
25 October, 2011 at 19:40
think he means el kaddouri
Respected poster on RTC, Paulie Walnuts (bada bing!), saying that Huns have serious “football-industry” debts and that action is expected to be taken this week.
It’s not the mysterious Jelavic transfer, apparently… Lee Wallace?
THM<
as I said earlier, the taxman is also trying to get rid of the creditor status, as no credit facility has ever been agreed.
donegalbhoy67 says:
25 October, 2011 at 19:52
Aye, I would hope so!
Somebody just let the side down badly on clyde there….or was it stage managed?
Seven Fishes Four Steaks
Yesterday you asked question how Anas Sharbini was doing?
Midfielder is playing for Hajduk Split in Croatia. This season he scored 4 goals and made 7 assists in 11 games. In previous season 2010/11 he scored 5 goals and made 10 assisits in 20 games. Hajduk are seventh in the table now.
Sorry, Hajduk are second in the table, not seventh.
Tom on clyde there was class he’s been on before but not sure if it was clyde or real the guy knows his stuff..
I was listening on the iphone but could hear the sound going lower lol i knew they were going to cut him off..
Well said tom if your lurking they don’t allow people to continue if you know yer stuff or you roast huns, i should know they cut me off last year m8 when i said rangers fans can’t roast anyone about respecting british after all they spat and they were sick all over war memorial’s in manchester beeb hello oops cut off.
Zbyzsek
“Sorry, Hajduk are second in the table, not seventh. ”
Let’s not Split hairs
I’ll get my own coat :-)
On another note.
Carlos Tevez fined four weeks’ wages and suspended for two weeks (deemed to have already been served). Warned about future conduct
RIEPER
Sorry, in my attempt to get folk talking about fitba again made a slip El Haj !!! My Goad!! It’s all getting to me.
This whole Rangers thing is covering over the fact that we are not very good and it does not look like getting better
We need to buy experience in January – Dont buy to sell buy to win!
Just watching Aldershot/Man Utd. Aldershot chairman looks like he is sitting next to his internet bride…
Canamalar.
I don’t know if what you are getting at is that hmrc is fighting the football creditor status in England. If so it doesn’t apply in Scotland.
Anyway, the big bill is there, it won’t disappear. The only way it won’t get paid is if the money raised in liquidation or prepack doesn’t allow it to be paid. In which case they have more problems to contend with.
==============zaluska===================
matthews===mulgrew=====rogne====m.wilson===
===========kayal====wanyama=============
ledley===========mccourt===========commons
===============stokes===================
4-5-1 for tomorow give wee james a rest
if we are not doing to well bing on hooper for wanyama to go 4-4-2
if wilson is not doing well bring on el kaddouri or cha du ri
Neil canamalar Lennon hunskelper extrordinaire says:
25 October, 2011 at 18:54
Nobody but nobody was bothering about the issue of overdue tax payable, only bloggers with time on our hands and wit in our heads.
The number of times I threw this one out there, either when it was the potential big bill before it became anything solid and then the wee bill, no one nibbled. Had Rangers paid it before the SO’s called, even if after 31 March, no one would have known. It was only the subsequent non payment that fired up interest again, prompting my letter to UEFA and St Leo’s to the SFA and a few more attempts to draw attention to the issue.
I think it just went under everyone’s radar.
http://celticunderground.net/index.php?option=com_content&view=category&id=47&Itemid=83
canamalar
HMRC want to be a secured creditor, they want the law changed to their advantage.
Presently, once the secured creditors get paid, he has to wait in the Q to be divied up like the rest of the unsecured creditors, and once the whyte knight gets his payout, the rest will want theirs, hence the players will be sold, and then the ground will sold, and if that still isn’t enough, the training ground will be sold, and anything else that can be sold will be sold.
Unless some rich Saudi prince comes along :>)
canamalar – I posted the other day about the interesting case of Plymouth Argyle. In that case HMRC were owed 300k of a total debt of 18m, they therefore represented around 1.6% of total debt.
After administration was announced HMRC immediately applied to the high court for a winding up petition. HMRC sought to ensure the liquidated assets were shared in accordance with the debt burden by removing the preferred creditors status of other parties, which is jsut about every other footballing party under football governance rules (other clubs, players etc. are all preferred creditors). The petition was denied.
In the case of rangers, assuming they lose the large tax case, HMRC will be owed 50m of a total debt of around 80m, one creditor representing about 63% of the total debt.
Should they apply for a winding up petition, would the high court deny it this time?
SFTB
Ha, well done.
Neil canamalar Lennon hunskelper extrordinaire says: Correct Link
Twitter – retweet.
@celticrumours rangers have approached price waterhouse about how to go into administration they have 260k in bank and wage budget of 3mil
Árd Macha
ASonOfDan says:
25 October, 2011 at 20:01
I know, just saw them both nipping back from the Gents !