Rangers Rumours Archive March 04 2012

 

Use our rumours form to send us rangers transfer rumours.


04 Mar 2012 21:41:50
Hi folks! I'm close to one of our best players! All tho he is out injured, he is really in the dark about what's happening tomorow, but the way he was talking its not looking good. I can't believe my team, I've supported all my days, the team my dad and his dad and his dad, the team that's been a big part in all our lives, is about to be closed down! But I do believe that we will be back and be back to our winning ways in the next few years! I really hope so!
WATP
Big Blue

Believable21 Unbelievable11

You will not be back, it will be a new club.

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What are you doing ? Holding his poster? That close? Another pipe dreamer
PaulRFC

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Keep the faith, we're not dead and buried yet.

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"closing down.....but back to winning ways".
what feckin planet are you on.

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I heard liquidation is no certainty. Hope rangers survive

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Who is this player..Never knew that they had a good player haha

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04 Mar 2012 21:10:04
Bluenoses,

Does anyone have any ideas who the potential parties interested in buying us are. Apart from paul murray. Hopefully it all gets sorted out fairly quick so we can end this poor chapter in our history.

Sergi80

Believable21 Unbelievable19

I've heard Brian Kennedy ( sales sharks ). Doesn't want to b part of a consortium, has a wealth of just under 4billion, so let's hope so, ls

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It looks as if this poor chapter could be the end of our great history. It looks like Craig Whyte has been in for this from the start. As a rangers fan; nonetheless a football fan, I have never seen such a level of deception from someone in such a high position within a club. In my opinion, I would not be surprised if our once great club is liquidated on March 16. There will be no buyer, who in there right mind would, the admins know this and after all they are Whyte's men, our club means nothing to these men. If Paul Murray was serious he'd have saved us from Whyte while David Murray was trying to get himself out of the firing line. DMK, David Murray Knew bears and as fans who pay our money with good faith expecting everyone else at our club to have the same values, we have been mightily conned.

Eds, realistically on current evidence, what do you think the future holds for our club?

Cheers BBB {Ed001's Note - I still think a solution will be found, once most of the playing staff is gone, or have accepted reduced wages, the club will be back on an even keel. Yes it will mean a bunch of kids in the first team, yes the team will struggle for a while, but at least there will be a club there. Then it is a case of reaching a CVA with the creditors, that is the main difficulty ahead, until that is done the club cannot come out of administration.}

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I don't think there's anyone other than blue knights and they don't have wherewithal. They linked Brian Kennedy and he quickly unlinked himself.... BLue knights want a rights issue, we the fans pay the money and PM and DK sit on the board with the big salaries and kudos.

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The situation is one of the worst business situations ever. No one will want us. My head isn't in the sand. There's nobody expressing an interest. Daily record said several interested parties with blue knights looking favourite. If that's the case the other interested parties must be really skintight fans.

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Tesco, Sainburys, Asda and Morrisons.

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Brian kennedy is not worth 4 billion. he is only worth 300 million. one website has a spelling mistake saying he worth 3.25bn but i can asure you he is not a billionaire. besides i heard he wouldn't be interested in owning rangers unless he was part of a consortium.

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DFS want us, theres a sale on! lol
Is Brian Kennedy really worth 4Billion?
I couldn't find anything on him, keeps coming up some singer!

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Only worth 300 million? Poor chap. If you think a sugar daddy is gonna ride in and save us then wake up. What we'll get if we are extremely lucky is a wealthy clever business man with a soft spot for rangers who can run a tight self sufficient club. Which should be possible with rangers crowds and merchandising etc. By the way does anyone actually know if craig whyte has a wealth of any significance? Was all that 800 million the record quoted a year ago bull s**t?

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Not many people will be intersted in the club just now the million pounds a month loss the ticketus fiasco the wee tax case the big tax case outstanding debts and running costs the sfa investigation into alleged double contracts the possible position of no european football the whole fiasco could work out well over 100 million pounds to be on an even keel this would not include new running costs and the work needing done in the staduim the situation is very bleak rangers could be in admin to august at best depending if things go well the club has been run into the ground

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I know for a fact that a German consortium are definitely interested they will not move though until HMRC ruling is revealed

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Only people interested in sorting out this mess are supporters only not enough

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What I dont understand is why anyone with any sense would come in and buy rangers now when they dont know what their getting. How many players are left, and therefor how many will you have to buy, who is the main creditor, who are all the liabilities owed to, how much do we owe HMRC? This is all usually made clear by administrators to entice a buyer, so setting a 16th march deadline without this information makes no sense.

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There is also the legal moves being considered by other clubs in the spl and 1st division if the contract situation is proved they plan on suing for monies lost because all your successes in the period that this has been going on will be wiped from the record and redistributed to the rightful teams all teams each season will move up one place officially and all will want compensated there are 5 clubs already planning this in a joint lawsuit but more have been invited to join and all clubs have a duty to thier fans shareholders and fiscal prudence to make the most of any revenue stream so they all will join

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The guy fae sale sharks is worth just under 4 billion google it

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I read he was a mega billionaire. Don't think its true though. He'd be just behind abramovic in rich lists. And he ain't. Unfortunately for him.

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04 Mar 2012 20:42:50
This is fact!!
The players have accepted they're cuts but it's not enough,
U do the Maths, a 75% wage reduction will save 1million (don't think so)....
Trust me it's just a bluff to get someone to put a bid in for us quicker so we can get our accounts in for 31st ....
And mr whyte has been the fall guy for lloyds bank.
Funny that we've heard nothing bout them.., Ls x

Believable13 Unbelievable21

Lloyds were just doing their jobs. now we see the larger picture im just surprisd they took so long

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You cant bluff with no cards mate.

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Why would you hear from lloyds? money paid,job done. get ready for a real shock in the sackings

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Lloyds new wer the funds came from.. We hav all the cards.. We hav a massive club with a massive history about to b sold for peanuts,,, thought the revenue was meant to be concluded end of feb beginning of march? That means they can't prove we've done anything wrong..

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Deluded until the end, what cards do you hold? Just the jokers. What part of "you are skint and out the game" do you not understand. Savings of £1m a month, big tax case and the consensus is it will be lost, various inquiries, X director spills the beans about the EBT etc etc. Instead of "we are the people" syndrome wake up to reality. Watched your game v Hearts via the computer, happened to be Rangers (In administration) TV and even the commentator is in denial as a tackle from a Hearts player was "as late as a Hearts pay cheque" when you guys will be liquidated you have a cheek to talk about another clubs circumstances.

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There is nobody will think about buying our Gers till HMRC is settled. Why is it taking so long to make a decision ? The Clubs history is riding on a positive result.

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Nothing just now is "fact" until it happens and the administrators announce it.

How can there be any big surprise in the redundancies when everyone is in the pot. Including... Ally.

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At that level of business im pretty sure people can do maths! You cannot bluff someone who is a billionaire into buying a football club, it will be well planned and the maths will certainly have been done!

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Can't blame the bank for this mess. They lend money based on the customer's submittal. SDM put Rangers into this debt. CW paid the loan off but not with his own money. SDM is letting CW be the whipping boy but CW is no angel either

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Lloyds did nothing wrong. You can't expect a national bank to change things for a football club. We borrowed money just like any other company and they wanted it back as they would from any other company. This idea that they should have given us an easy ride is absurd.

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04 Mar 2012 20:32:26
Tomorrow as many of the papers have prediced is likely to be D Day for a lot of the first team and the back room staff.

Believable17 Unbelievable15

Every day last week the daily rebel predicted redundancies

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Do you think there is any chance at all that its not going to happen ?

The only error from the press will be timing.

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Was speaking to a chartered accountant friend 2day who says he & many fellow Rangers-supporting CA's would dearly love to see Rangers books.Much what's being said doesn't make sense but would need to see the books to confirm.
There doesn't seem to be any great overspend (certainly in wages with a guesstimate bill of around£1.5m /month) when we've allegedly got an income (no Europe) of £36m (£3m per month in other words). where's the rest of this cash going ? cant say without a look at the books

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Rates,gas,electricity,transport costs,maintainance,police, stewards is that enough for your c/a friends without looking at the books? chancer.

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Papers only speculating on the inevitable. They cant drag it on forever. It's time to get it all out in the open and face the consequences no matter how painful. This will let everyone move forward one way or another

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04 Mar 2012 16:15:04
Ally couldn't have personally benefitted from the dual-contract scenario , could he?

Paddy Malarkey

Believable28 Unbelievable23

The sfa are going rangers going on what mr adams said hope it is not true

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Anyone with £1,000,000 salary could avoid tax bill of £450,000 - who would not

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Why not get rid of the backroom staff and a ppoint an experienced player as player manager until the end of the season.

Also when portsmouth went into administration they were allowed an emergency transfer window to generate some funds, why not ask for that.

its probably only papering over the cracks but it may allow the team to go on a bit longer

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Aye, he gets double the amount of pies.

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It's okay having another transfer window as an emergency but other teams have their budgets. What would happen if an offer fro Davis/McGregor came for £500k ?
They would probably have to accept it as it's money team could do with.

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Re emergency transfer window. Different rules apply when club is in administration. eg Football debts are protected. If this was the case here Dumfermline, Dundee Utd etc would get all thats owed eventually. HMRC are contesting this rule as they (on our behalf) therefore get substantially less.

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I don't think there's been a club put into Asministration where the manager and his coaching staff have not been released.

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Re two posts above- I'm not sure if there is a football creditor rule in Scotland. I thought there was until a couple of weeks ago when that guy with big teeth (Brain Swanson?) said it on SSN that there is not one in Scotland. However I am not certain, so if anyone knows i'm wrong please say :-)

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04 Mar 2012 16:06:52
Was at the game yesterday and our supporters club have sent their allocation for the Dundee Utd game back.

Gers1986

Believable42 Unbelievable16

Why ? .

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Probably be finished as a club by the time that game comes around anyway

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Why would any of our fans do this this could end up for tit for tat and would not benefit anybody in the spl

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There is a feeling amongst a lot of the supporters that the way in which Thompson and Dundee Utd have behaved towards our club is out of order.

Gers1986

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I know it could end up tit for tat but we have got to stand up for ourselves because as super ally told us their is so many having a kick at us when we are down

gers1986

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This just shows the truce character of Rangers supporters. The more this administration process continues, the truth comes out. Boycotting away games, sectarian singing, not filling Ibrox when the club needs as much money as it can get.

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This is terrible we must follow the team away as well this would really put us in a bad light

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Well done gers1986

We have done the same. Still heading up to welcome the team into the stadium, then gawn ti get pashed!

Dundee utd have behaved in a poor fashion for 3/5 years now towards Rangers. Probably since snr thompson died tbh. His son is a c0ck!

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Why ? As much as thomson at dundee celtic irritates all bears we NEED all the SUPPORT we can get, the boys on the park need us all to be there. Get yer tickets back!

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Rangers need all the friends they can get especially if they want any NewCo fast tracked back to the top flight.
Seems some fans prefer maintaining petty squables in the here and now to the mid and long term interests of the club. DU are not the cause of this mess but they could be obstacle to resurrection.

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You are not a true rangers fan if you boycot away games get behind the team this really annoys me angry bear

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The Dundee united chairman is part of the spl board that will decide any newco membership to the spl.

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Do you think if Rangers went bust they the newco should be fast tracked in to the SPL, i say let them re start in the 3rd (if they are admitted to it) and let us reform Scottish football for the better

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A love my club as well but what do you suggest we do sit back and keep taking hit after hit. It should come as no surprise I suppose but I am still shocked at the pure hatred that some people have for our club. Just feel we have to do something negative or not.

Gers1986

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A kick at us listen its the clubs fault and no one elses its nothing to do with dundee utd or any other club people like you give our great club a bad name i will be attending away games and urge fellow bears to attend shocking post support the team some rangers fan you are

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D.U have been having a kick. Attending tanadice would only put money in their pocket, after charging us twice for posponed fixture why should we help them financialy when they having a go at us, Let them feel the pinch, I beleive Rangers fans are attending a dumfermline game in stead to help their financial situ, fans at away fixture at present would not make much difference as it ibrox we have to fill now till end of season

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Waken up mate hatred by g-d would they hate us more this is nothing to to with utd get real

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Aye mate just walk away not true gers fan get behind the team we need you

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Angry bear, reasons for boycotting, harged twice for same game and, having kicks at us, support for team not required as 2 full houses at ibrox and didnt perform, why put money in their pocket when they kicking us, Beleive fans going to dumfermline to help their finances as they also came out with support for us, its ibrox we need to fill every week

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True nothing to do with them, they should keep their mouth shut

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Why all this negativity regarding liquidation, New Co etc. Glasgow Rangers will not go down the tubes, mark my words.

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I dont like thompson or houston for various reason as mentioned and because of the david goodwillie fiasco. i will follow the team to dundee and i will tell thompson what i think of him!

watp

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If Rangera supporters have an issue with Dundee Utd double charging them, why didn't they boycott a previous game. Now is not the time to do this.

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Agree with you gers 1986, I'll not be going to Utd game either and I don't consider that to make me any less of a bluenose than the bears that chose to go to the game.

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Unreal imagine the cheek of Dundee utd,looking for you to pay your debts and god forbid selling one of their players for more than you offered, As for wee Ally ,no one is kicking you all this is Rangers own doing.Wee Ally is trying to save his job by deflecting blame. no class no dignity,just pay your dues

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There is a head in the sand attitude here. Rangers are almost certainly going to go into liquidation and be relegated or face heavy penalties. This season is over and fans need to unite and start coming up with some positive initiatives, for example, if you the club to exist to the end of the season, ask if you can have an emergency transfer window. There must be some initiatives by the fans, forget the rangers trust, group, the whole fanbase needs to unite and start having positive dialect with the administrators.

This we don't do or we don't protest will do no good. The old values and attitudes have failed. Its time for the young fans of the future to show the old guard how to try and save the club.

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On what basis are you convinced Rangers to be liquidated, so many negative comments, we will have to wait and see. Cometh the hour Rangers men will come to the fore.
Stu

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Utd only accepted the best deal for Goodie, Rangers couldnt match it and where do you think the money would have come from to actually PAY the transfer fee if you matched or bettered Blackburns bid, also it wasnt just Rangers fans that were out of pocket after that game utd fans were too

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Stu - there are very compleiing reasons as to why Rangers will be liquidated.

Rangers have a current known debt of £15m detailed by the administrators, there is a very strong likliehood that Rangers will lose the Big Tax Case (£49m+), there is around £40m - £45m to pay Ticketus over the next 3 seasons, Whyte's floating charge of £18m over the club, there will be no European money next season. By liquidating the club all this debt disappears, which make Rangers a far more viable proposition to an investor (albeit there would be no European football for 3 seasons and Whyte's floating charge would have to be dealt with).

Seperate to this, Rangers may run out of cash before the end of this season. If this happens the administrators have to then declare the club insolvent and have no other option that to liquidate the club. The administrators must pay all bills incurred by the club after the date of administration, these bills cannot be ringfenced like the debt upto the date of administration can.

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I think the hour has cometh and goneth.

If and its a huge if, the club is not liquidated, its going to have minimal income for 4 seasons due to Whyte selling out to ticketus.

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My head is not buried in the sand. Most of what you have posted is correct.

We still have not the big tax case, (innocent until proven guilty)if we do there are lots of clubs down south will be brought to task.

I just think there will be more twists & turns to come, there are potential interest out there.
That's try to be positive as we all have GLASGOW RANGERS at heart.

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Some people on this site have the brains of an easter egg.True Rangers supporters should boycott all away games in future.Why should Rangers supporters listen to the hatred and bile from so called football fans who continually tell us how well Scottish football would be without us.All supporters who regularly travel to away games should put any ticket monies into a bank account,this money can then be given to Rangers our club if and when we have new owners.Let the parasites who inhabit the SPL survive on thier own gate money,remember as well no Rangers no TV deal.So waken up gers fans ,stop supporting our enemies.

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Ally McCoist is coming up with soundbites and everyone is taken in by them and repeating what he says. "we don't do walking away", "people having a wee kick" and then suddenly it is on all the websites. Clubs like Dundee Utd only want what is owed to them (they are a business as well and there players need paid too). Can't keep blaming other clubs and scottish football in general. No one ran up the debt but Rangers Football Club! Time to accept responsibility as a club.

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What's the problem with Utd apart from being peed off over monies due and not seeling a player below the value your team wanted to pay. lets face it theyd never have got the money for that little bam anyway as things turned out. get a grip. Look in the mirror

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I think most fans of most clubs feel sorry for true rangers football fans who have done nothing to bring about the current problems. But most fans of most clubs are not interest at the sectarian nonsense at Celtic, Rangers and quite a few other grounds on a smaller scale. The young Rangers fans need to organise and try and find ways to help their club. Trying to hurt other clubs whilst watching your club die, is not really helping anyone.

The old guard have failed, they have brough not one single thing to the table since these problems started years ago. Time for the young Rangers fans interested in football to try and rescue the club,how, i do not know, but dialogue would be a start.

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If we ripped off utd, then they ripped off our fans first by charging them first. I agree with the post 3 up, why oh why do Rangers fans want to give money to away teams when our own club need money now, or they may die.

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So you all want the team playing away in front no rangers fans get a grip give the team the support this is stupid

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Il be going to cheer the team on

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Guys, get to the Dunfermline game instead On the 24th, those guys were very gentlemanly about the whole situation surrounding us, where as Dumpdee utd are acting like complete tools.. As for the team they can't perform with a full house at ibrox I'm sure it'll be the same with a small away crowd. So go on be a mug an give utd your money.

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What is wrong with Rangers fans?
You have been hoodwinked over and over.
You claim A McCoist is a great manager.You seem to forget this mess was started by Murray and finished with Whyte. You seem to forget you were 13 points clear. Mr McCoist is a not a good manager he was and is a true blue who played his heart out for his team, but that has not made him capable of managing a team,remember he had the same team that won loads under Walter and he did MANAGE to turn them into a team of losers.

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04 Mar 2012 15:09:03
Rumours intensifying that Rangers did not hand over the money raised from the poppy appeal on replica shirts.

Anyone know or heard anything about this?

Believable39 Unbelievable34

Intensifying does that mean your pal told you, and then someone else said it?

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What. this can not be correct?

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Intensifying in that the number of people saying it is increasing. There is no need to be rude.

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Surely this is total nonsense? I cannot believe this one at all.

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If this is the case,this is the act of a scumbag.what goes around comes around.i am ashamed.this is like grave robbing.

lest we forget.

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All you clowns do is give the papers more s**t to print , give it a rest will you please.

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IF this is true, then its the Milly Dowler moment, no support from any quarter we go the way of News of the World

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If this was true. Would have been in the papers

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Clowns . What is that all about?

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Would really find this one hard to believe and incidentally not a Celtic fan but RIP Paul McBride.

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Don't think papers would print something this sensitive until there is proof.

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Why are so many people kicking this Great Club when it is down with all this scaremongering, I don't believe this for one minute.

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I am a Celtic fan,have heard this rumour and cant believe its true,(hope not anyway) To one of the few Rangers fans showing show class thanks to the bear who posted re Paul McBride(he represented Rangers players as well and according to all accounts was a pretty decent guy)

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Sorry to be a spoilsport but I am the person that added in the wee comment RIP P.McBride but I am not a Rangers fan and the Celtic fan is correct, Mr McBride represented many of the players and fans and also made an offer to help any Rangers Trusts that wanted advice on getting rid of Craig Whyte.

Diamond Geezer

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Think Whyte must have had his hand down the back of every chair and sofa at ibrox. Wouldn't put this past him!

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As a Celtic fan I do not believe for one minute that this is true. People just trying to make things even worse for Rangers. Truth will be out soon and then everyone will know the true extent of the debt and who the genuine creditors are.

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I'm a Celtic fan and this is a vile bad rumour. This is exactly why the Administrators need to publish the bona fide list of creditors and values to put Ann end to wicked speculations. Rest in peace Paul McBride a good Scotsman.

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I find this very hard to believe. The gutter press would have been all over it if there was any hint of truth. I'm sure it would also be illegal as all charities require an approved license. (collecting money under false pretences)

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04 Mar 2012 14:17:20
do you think somebody or consortium will step in and save the club, things are starting to spirall out of control, why is David Murray not coming out and saying anything about the club.

Believable18 Unbelievable24

David murray got us into this mess

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Murray kept rangers alive long enough stop looking for more handouts

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Why would Murray say anything. He sold the club and has no involvement.

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He needs to tell us the 'due diligance' required before he sold to Whyte. Was there any?

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I reckon Murray is still involved somehow, I think Whyte is just Murrays puppet.

CC

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Murray is the mafia don. His tentacles spread to placed men in the media, the SFA, other clubs, politicians, the police, everywhere.....no one has asked how he managed to get so much money from BOS for MIH and Rangers. Lloyds couldn't believe the BOS accounts. We know the rangers tax is £49m but how much is Murray defending the MIH tax for?

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CC you dont happen to know who shot JFK

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Original poster here, I just think he owes the supporters an answer, why did he sell the club to this guy, surely David Murray doesnt get away scot free in this Disaster.

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Silence is golden these people just think the fans are numbers sorry state we are in

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I think the investigation will show why Muray allowed Whyte into Rangers when he obviously had form for dodgy dealings so Murray will probably be accountable then.
Regards a consortium.Unless they have about £100m the administrators will say no.

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Murray new all along what Whyte was going to do. I know a financial associate who dealt with Whyte and he has done this many times with different companies. Murray will have known all along that he was a huge risk for Rangers with his past history. That's why Murray is keeping quiet. Murray would have known about the Ticateous deal Whyte made before the purchase of the club. After all it was Murray who had to physically sign the ownership of the club to Whyte so he would have known all the conditions of the sale.
Ally McCoist is not the man for Rangers either. I wanted him to do well but he has not got the tactical credentials. The whole coaching setup needs to be look at players are going backwards. Long before the administration.

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Total shambles from the top to bottom disgrace

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I don't know who shot JFK but I do know that Whyte bought RFC for £1 and to me there is something bigger/sneaky going on that we don't know about in order to save our club and get HMRC off our backs.

CC

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Things are not spiralling out of control, there is ZERO control, it is called administration. The administrators are acting on behalf of the creditors not RFC.

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I remember a few years back when Murray left Ibrox and put a chairman in that there was a rumour he had to focus on his business as it was losing hundreds of millions. The rumour was also he called us fans ungrateful bas***ds. He couldn't dump rangers then due to the huge debt £70m and the huge tax issues. But is this his way of getting back at us?

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Cc I agree

I think Murray knew exactly what whytes intentions were and helped arrange getting the ticketus

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Agreed, I think it's Murray getting back at us, eventually after finally dumping the club. I think his close servant Bain was in on it too. That's why Murray paid him £400k from Murray group when the sale went through .

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That's it then , glad its sorted... Evil genius David Murray. Life dealt him tough cards, Bruised ego... Gets his revenge on working class fans....

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04 Mar 2012 13:56:39
Just a thought... If rangers were to be liquidated then the powers in charge would know this in advance of it being announced. Could they change the name of rangers as it stands to let's say Glasgow Rsngers, then use the name rangers as it currently is to start a newco, thus stopping all this "what would we call a newco" debate? Gerry the Ger

Believable10 Unbelievable16

The tims have been all over this for weeks and have registered loads of names with rangers in it,be hard to pick a name now

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Im a true blue for many a year now and also heard about the other mob taking up all the names.I looked into this and managed to get glasgow rangers club football limited registered in my name,if a new club has to be formed ,they can use this if they so wished.
jaasblue

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It doesn't matter what we're called we still lose our history and our traditions and all that goes with liquidation. We still have to clarify that we even have the resources to start a new company given that Whyte will own our stadium, our training ground and the registrations for our players that we can sell for money. We might as well call ourselves Tesco.F.C for all it matters now. thank you very much Mr. Murray!

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Look ano it is bad 2 lose history but wen rangers2012 etc wins the league we can get it ryt up the manky mob for a full year. its not about the past its about the future and wats best

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If th ecompant is liquidated and removed from the company's list they can use the name it's already got again as it wont be in use.

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If your company has gone into liquidation It is possible to reuse what is otherwise a prohibited name if your successor company's name falls within or is made to fall within one of the three exceptions to Sections 216 and 217 of The Insolvency Act 1986



The three exceptions to the general rule that a successor phoenix company cannot re-use the original registered name or trading name of a predecessor insolvent company are set out at Rules 4.226 to 4.230 of The Insolvency Rules 1986. Those Insolvency Rules address what are known as "the three excepted cases".





1. Rule 4.228 of the Insolvency Rules 1986 - The first exception that will allow your company to reuse the name of an insolvent company that is otherwise a prohibited name



This is possibly the most important exception to reusing a company name in a phoenix company.Where a Company (the successor company) acquires the whole, or substantially the whole, of the business of an insolvent company, under arrangements made by an insolvency practitioner acting as its liquidator, administrator or administrative receiver, or a supervisor of a voluntary arrangement, the successor company may for the purposes of section 216 give notices under this Rule to the insolvent company's creditors.

The notice procedure to advise third parties that the old company registered name or trading name is to be reused by a successor phoenix company is very strict. Notices must be on a special form known as Form 4.73 and that Form 4.73 must be be sent to:

- The London Gazette within a set time period of 28 days within the completion of the purchase of the name and assets from the liquidator of the predecessor company and

- Every creditor of the previous insolvent company.

By following this procedure directors of the successor phoenix liability avoid the various penalties for using a prohibited company name - imprisonment, fine and personal liability for all of the debts of the successor company.

In other words if you do not follow the Rule 4.228 procedure to the letter then it is just the same as if your phoenix company was trading without the benefit of limited liability.





2. Rule 4.229 of the Insolvency Rules 1986, states - The second exception that will allow your company to reuse a name of an insolvent company that is otherwise a prohibited name



This second exception involves the directors of the successor phoenix applying to Court for permision (or "leave" as the Court calls it) to reuse the name of the insolvent company. The application to Court must be made not later than 7 days from the date on which the company went into liquidation, and leave must be granted by the Court not later than 6 weeks from that date.

This begs the question as to whether the Court gives permission to reuse the name of the insolvent company name in every case. Several Court reports demonstrate that the Court looks at the matter seriously. Before the Court will give leave the Court looks to see if:

- The successor company is well capitalised or not

- Has adequate bank or other working capital

- Has a competent financial team.

So if you start a phoenix company on a financial shoestring you will not get permission from the Court to reuse the old insolvent company's registered or trading names in a successor phoenix company.

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04 Mar 2012 13:53:32
Davis,McGregor and lafferty out next week as administrators struggle to find sources to reduce the wage bill.Whittaker and naismith will go as soon as fit as their wages are being paid by insurance.Rangers cant wait till the window as the admin team think without these cuts theres no chance of being in buisness for April's wage bill.I did not believe it but it's the administration rules,they must do whatever is possible to keep the company alive.

Believable28 Unbelievable31

Naismith will not be fit until the start of next season, by which point we will be out of admin.

GovanFR

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No they wont they have a sell on fee

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Surely if injured players wages were paid by insurance company, best plan would be to fake injuries to all our big earners. Don't think it works that way

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So to help with the problems caused by double dealing and shady contracts you suggest lying to an insurance company. Ah the lunatics have taken over the asylum

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It does not matter if they have a sell n fee. You can sell them now. Transfer window still open in some places and dispensation can be sought to let them go to other clubs outside window. Portsmouth let two go sat week to Birmingham.

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We can't sell players till the summer, we can only terminate players / staff contracts not sure what the bear talking about Birmingham n Pompey Liam Lawrence signed on loan at Cardiff pending city offering him one in the summer ...

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We will not release players that have a sellvon value, more likely your broadfoot, papac, Alexander, mcculloch, etc etc that will go

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Listen, the Admin guys are not working for nothing! they are taking their fees from the club funds, and the longer it takes to find all the missing money the more they take in fees, and no matter how much money is raised through sell out home games & buckets outside the ground and handed in guess who gets paid first as they are not creditors!! So here is the bottom line, they have to sell the club/company as a break even business, and to save money they must try to sell assets, no matter the state of fitness, if there is no sell on value then termination of contarcts is the easiest and cheepest way of asset disposal. They are under NO legal obligation to keep the club/company alive, they have a legal obligation to ensure that creditors are paid either in full or by a reduced means that everyone agrees to and as we know that is not going to happen. Ergo 16 March 2012 will enter history as the day when the mighty Glasgow Rangers defaulted on debts and then watch Scottish Football implode

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I'm a st Johnstone fan and it humours me to keep reading "they couldn't live without us" from both sides of the old firm. We don't have any debt, don't owe any money, and don't even operate with an overdraft. More clubs (even out with Scotland) should take a leaf out of Geoff/Steven browns book and just run their clubs properly. We manage without relying on the old firm, I'm sure the rest of the league will too, give it a season and I'm sure it will be a case of rangers who?

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04 Mar 2012 13:53:04
Admin set date 0f 16th march for any buyers to show there hand !
Cant see it tho with tax case still hanging over us .

Believable26 Unbelievable3

17 expressions of interest. Bigger lies than Whyte,

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Expression of interest is what it says. I am interested and would offer £2 for all Craig S##te's shares. The good news is the adminstrators must have a handle on the accounts and how much debt there is. In two weeks we will know how bad things are.

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04 Mar 2012 12:34:07
Was at game yesterday, I know the players have other things on there minds so I don't blame them for sub standard perfomances, surely now results on the pitch are secondary to the survival of our STILL great club. I am a bit afraid that liquidation could be looming large on the horizon, I hope I am wrong but worrying times.

Gus

Believable31 Unbelievable8

Be very afraid. Who would be willing to invest around £100m into a club before they can even start on building a squad. Liquidation is a certainty.

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Administrators say liquidation will not happen. Why don't you believe them?

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Rangers are too big to fail.
Follow Follow.....
Good Rangers men at the banks in Glasgow and Edinburgh will step in and bankroll us once more.....you'll see....at the 12th hour.
Royal Bank of Scotland or Bank of Scotland.

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Oh my God.the banks will save you? are you mad?you are a toxic mess,in a league that does not generate money and you are losing money EVERY DAY.

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Liquidation is nigh on a certainty in my opinion, no one in their right mind is going to offer a £1 for these shares with so many unknown debt variables by March 16 th. None of the outstanding issues will be resolved by this date and it is the cut off date for interested buyers.

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Sometimes my fellow bears really can be total person heids. it WAS the Administrators talking about re entry rules to SPL..... So that's duff and phelps breaching liquidation verbally!

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I like celic more than craig whyte and i HATE celic. its all his fault what a w*nk. graeme

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Enron was too big to fail.
They constantly cheated also.
It's Liquidation.
Listen to the pennies dropping.

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Get real no bank is going to touch us the mess we are in my god fellow gers wake up

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04 Mar 2012 11:26:23
Aston Villa and Sunderland are waiting to move for Rangers captain Steven Davis, if the midfielder is made redundant. (Sunday Times)

Believable32 Unbelievable20

H e won't be redundant. He's got saleable value meaning he could be sold off when transfer window re-opens

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He won't be. He has a selling value. He would go in the next transfer window.

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Rangers fans I have some questions for you.

1. Why did DM sell a club with 50 million turnover for £1

2. Why didn't Craig whyte sell some of your top assets to ensure you could carry on to the summer.

3. Why did he run up all these debts.

4. Why did he place you into administration before the outcome of the big tax case.

5. Why did your groups trusts and fans do nothing when this has been coming for over 2 years.

I really do not think that a high number of fans have grasped the seriousness of the situation, with Liquidation looking more likely by the day.

The administrators should have cancelled the top players contracts from day one. They are there to protect the creditors (CW). Instead they even tried to sign a player, bizarre!

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Oh yeah that's totally understandable, Davis is best midfielder in Scotland in my opinion, there's bound to be a lot of clubs interested, he could walk into this current Arsenal team and do a decent job, I agree with last two posts tho, Davis is worth at least 5 million therefore it would be stupid for the administrators to get rid of him for nothing.

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Papers reporting Rangers out of European football next year as Administrators state they will still be in Administration by 31st March with no Audited accounts. So Motherwell getEuropa league slot.

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No Euro football next year even if we make second place. No euro money.
No euro TV money. No players.
Everyone planning for after Liquidation in newspapers.
We're being obviously told its coming.
That's why Davis will leave. The club won't be here come next transfer window.
Whyte's Creditors Duff and Phelps creaming it in also.

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Pains me to say it but last poster saying Motherwell will Europa League spot ---- try champions league spot....

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Aston villa and sunderland are looking at signing steven davis if rangers go into liquidation because then his contract will be void!

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Why are Administrators managing us into oblivion? Same as Whyte? Is it a conspiracy? With SDM also and treasury and HMRC to shut down Rangers for good?

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Wait a minute, Davis could walk into the current arsenal team?
Whens your next gig mate, that was a good one, i might come along.

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Haha best midfielder in Scotland. Next joke. He isn't worth 2 million never mind 5 million. The administrators won't be thinking about a sell on value especially as they can't sell him right now unless its abroad somewhere, they'll be thinking about how much he's earning and if he won't take a cut he'll be out the door. simples

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Conspiracy to shut Rankers down for good! You having a laugh. If you'd pay'd your taxes you wouldn't be in this mess.

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DM sold the club as it was spending more than it was making AND it had an $18 million debt.

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He didn't sell the players because there were no offers.

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White didn't voluntarily put Rangers into administration, HMRC were going to do it on their terms if he didn't. He wanted a 14 day period to agree a CVA but HMRC stepped in, so his hand was forced. facts are, we would have been in admin anyway.

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These administrators could look at the big picture instead of short termism. Ibrox staff don't know what's going on, redundancies tomorrow? Finding out via rag sports hacks is not on. Also giving employees 3 options over their colleagues is unacceptable and particularly nasty. A real mind f**k. Is that what they do when Ally and the boys bring in the PFA union?

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But not because of the big tax case, just whyte running up debts everywhere because he wanted administration.

The facts are RFC had debts under control with Lloyds at the helm, unfortunately Whyte is using RFC for a fast buck and he looks like he will get away with it, he holds all the cards

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Let me explain the position of the administrator and why it is inevitable the highet paid players must be made redundant regardless of their future worth.
They cannot borrow money to pay wages, they cannot afford to pay high wages and their remit is to save RFC now from liquidation. If they keep the highet paid players then liquidation is assured and the players walk free anyway.
An adminitrators priority is now and not in 3 months time, RFC must make 1 million pounds a month cuts in wages now or there will be no RFC in 3 months time to sell the high paid players on contracts.

Tragic waste but these things happen all the time in these circumstances.

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The facts are RFC had debts under control with Lloyds at the helm.

If this was the case then why did SDM sell to a cowboy ?
Did he need the 18 million for his ailing property empire ?

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Ok so why need Ally on a million a year to manage a team of 30k footballers then?

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At the moment Ally is the only spokesperson for RFC that the fans can relate to, if you pay him off too soon then the fans may stop going and the cash crisis worsens.

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Pay your taxes hmrc there a joke had my business hgv haulage 38 years and they liquidate me in december 11 for 17,000 didnt give me time to sell my house home report 330,000 or raise cash all their interested in is raising fuel prices against us hauliers by the way ive followed gers since 1955 and have seat in gf2 dougie

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DM had been trying to get out for years, Lloyds took over the running of the club because DM had made a mess of the finances. I expect DM wanted out before the tax case was settled.

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If SDM wanted out before the tax case then why was he telling us RFC would win it and why in the name of the wee man did CW buy RFC knowing the facts about the finances and the tax case ?

Then CW increases the players wage bill by 500k per month ffs !

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Surely everyone must agree CW wanted administration. He did not pay taxes from the day he took over. He did not even use his money to buy the club. Any one of you could have bought the club with 4 years season ticket money.

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Davis the best midfielder in scotland, what planet are you on. the guy is so inconsistent and never performs in big games. i for one wouldn't miss him if he were to leave.

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All you "so called" Rangers fans on here slating Davis, I said in my opinion he would walk into the Arsenal team, he would do a job, if yous say yous are Rangers fans get behind the team instead of coming on forums and slating the team. It's whyte and Murrays fault were in this mess, not the players.

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Its not a case of slating the team. its giving a realistic and honest opinion. if you think davis is good enough for arsenal thats fine but 99.9% of my fellow bluenoses would disagree!

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How did CW increase the players wage bill by 500k?

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04 Mar 2012 00:49:53
Anyone else heard that Rangers owe Glasgow city council £2.5m?

Believable60 Unbelievable26

Is this true ed you heard anything? {Ed001's Note - I haven't heard that. There are a list of creditors though, I would have thought it would be common knowledge if true, hard to tell mind, these administrators seem to be uncovering more bad news by the day.}

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I heard they owe council tax on Murray park and Ibrox and car park! But I thought it was maxd @ £1m.

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I've heard this also, but the value seems to be unknown....Whyte wasn't paying HMRC tax, so it's probable hr wasn't paying the council tax etc.

Too many folks are owed big money in very tight times....getting a CVA organised won't be easy at all!

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Murray park isn't even within Glasgow city councils boundaries

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Murray Park does not have to be in Glasgow City Council boundaries for him to low business rates on it.

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If Rangers owed Glasgow City Council money then for sure it WOULD be common knowledge. Lol

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They owe everybody minty murry should help out

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What about the electricity bills for Ibrox and Murray Park?
What about gas bills for both Inrox and Murray Park? Winter is particularly expensive and hot showers for squad and youth and trainers cost every day.
what about bt bills? Phones and computers broadband?
Fuel for company cars?
Administration quoted at £184k so far for standard 40hr 5 day week. But these guys r putting in 12hrs 7 days a week, working sat and sun.
Is there a published list of known creditors and values?

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Yes we should put £1 coin meters in the visiting teams locker room showers at Ibrox if they want a hot shower. Serves them right if they beat us at Ibrox anyway.

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Heard Whtye owes plenty to GDC in fines cos he never returned library books ( paying it up a£1 a week).....DH

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04 Mar 2012 00:45:56
so it seems whyte holds the registration for the three biggest earners at ibrox.transfered when they signed new deals.lafferty off mon/tues.more shockers in next weeks papers

Believable27 Unbelievable12

Surely this can't be true. The consequences of this arrangement are so well known to clubs no team would take the risk. Even if Whyte wasn't aware of the implications surely Gordon Smith's knowledge of football contracts would have ensured it wouldn't happen

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That if true and Ticketus balance was part of switcheroo to save assets for new rangers..... But admin can grab everything from Rangers Group and blow it now!

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No one is safe really admin wont favour they have a job to do

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Please let this be true hes a total knob i would love to see laugherty out of ibrox.

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Hey craig whytes ex wife knows how much hes worth as shes getting a slice of the wonga from doing a whitey..

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