Bluedell

They must be screwed if we go into liquidation. Any newco would have no obligation over any previous company's agreement.

I believe that they are saying that they have an agreement to purchase something from us in the future and administration does not alter the contract that is in place. We don't owe them money which we can't give them. We owe them season tickets which, in theory, we can give them. I'm unsure as to the credibility of this argument and D&P would have taken legal advice on it. Given they didn't pay us, I'd have thought that there was a strong argument to tell them where to go.

Ticketus previously claimed that they were not a creditor. You would think that they would not be bothered about us going under as they could just claim the full amount on the security that Craig Whyte personally guaranteed.

Attempt to what? Murder or just threaten? I haven't been following it closely.

It seems to suggest that they are not as confident as they should be in getting the tickets from us. Whether the warning is in respect of the deal as it stands or whether it is in respect of any liquidation is unclear.

Templeton isn't involved with them anymore and the Assembly appear to have been on board right from the start as they used a quote from Andy kerr when it was first launched.

I disagree that it would be wiped out.

It will not be a new club, just a new company. The company did not exist from 1872-1899, but the club did. Do you not recognise what the club did in that time? Celtic moved from one company to another company seamlessly. If we did the same, are you really going to stop supporting us? Don't listen to Celtic misinformation. We will continue to be Rangers.

Generally not. However there is no requirement to pay them the full amount of their salary. For example a company may say that we will pay you in full for up to 5 sick days a year and after that you will only received statutioory sick pay. However I'd assume that our players would have something in their contracts that would result in them getting full pay, particulalry if the inability to work was caused by something happening in the normal course of their job.

Update - the players would be due the full amount of their remaining contract. However if the administrators said that there was not the cash to pay them then they would become creditors of the club along with HMRC et al.

The statutory redundancy payments would be relatively low. £430 for every year that they have played for us. I presume that the the adminsittrators are able to break the contracts and not pay the outstanding balance of the contract or else what would be the point? if that's the case then presumably they can get of the players with no real cost to the club.

When did they criticise it?

A proddy one or a catholic one?

FS, I suggest that you go back and ask whether he can confirm whether he is satisfied that there was no wrong doing by Mr Withey, which he should be able to do as it would not breach any client confidences by doing so. You may also wish to ask whether Withey is performing the role of Company Secretary as a private individual or as an employee of CB.

Agreed, and I don't feel particularly comfortable with the whole thing. However it depends on how it is done. It could be done fairly easily to ensure that the trustees acted properly.

I would think that the administrators are under an onbligation to cut costs where they can to: 1. make the club break even at least, something it is not currently doing (even if there is surplus cash around due to non-payment of billls), and 2. allow any surplus to be paid to creditors.

Is whyte willing to sell? Even if he is, does that help the creditors? It seems far too early not to be taking action due to the remote possibility that a buyer can be found who will sort out all the creditors. If there is enough money in the dodgy lawyers' account then why not come out of administration?

Most of the news isn't guesswork. The newspapers have been fairly accurate about the club over the past few months and it's wrong to dismiss everything as being based on rumours. However it is also true that the journalists are not finance people and do get some of their own analysis and answers to questions wrong, as was proven with Darryl King last night. The information given out by these guys should be listened to and assessed and should result in a far clearer view of what is happening. It shouldn't be all be taken at face-value but it also should not just be dismissed. I'd also suggest that some finance people are not always more informed or accurate if their analysis is carried out with less information than others have.

Definitely. There's a strong possibility that there's an agenda behind this. If so, then it's the same tactics that were used at the time of the problems with Lloyds. Get the fans stoked up by worrying them. That's not to say that the questions being raised aren't valid ones, but it'd be good to know the source and why they are being asked.

How quickly were there player losses in each of these other examples? Within 3 days? Nobody wants job losses but it's very unusual in an administration where there are so few losses within the first 2 weeks. Companies enter administration because costs are out of control. So far they have done little to rectify that. They appear to be slow in some other areas as well. There may be good explanations for all of this but it doesn't seem unreasonable to pose some questions.

That site has become another RTC.

His comments were interesting (and potentially worrying). If he is saying it without any agenda and they are still working to achieve Whyte's end game then we are in a lot of trouble. Their delay in cutting costs is certainly very unusual.

The police would ahve the final say, and it may be better for the club financially to sell the whole of the Broomloan to one set of fans.

Dunno. We did it before but the rules may have changed.

Yep. We should sell all the tickets on our own and keep poicing costs to a minimum. the downside may be that they do something similar in the future when we are about to win the league, but I guess I could live with that.