North Rd

Dundee Utd Director Thompson states : Dundee United chairman Stephen Thompson believes clubs would not vote a Rangers Newco into SPL as things stand at present. United chairman also says Scottish football can survive without Rangers and that he is in talks about a new deal for manager Peter Houston

You should show Leggo that , he's got him crucified today

asked for link! still waiting........

Listen to this crap: He has only JUST been allowed to start trading again i.e. moving funds by the SA Tax authority. He couldn't apply to be any part in Rangers takeover and that is why he HAS APPLIED to the SFA for 'proper person' status now that his business with SARS is over. He has stated UMPTEEN times since Feb 14th that he favours no side but would like to help Rangers (but that is up to the SFA). He is STILL worth megabucks. He has spoken AT LENGTH to Ally and told him that he has got to be careful BECAUSE of his business with SARS not to drag the Club into the grubber any more. If he can get clearance against his name in Scotland i.e. SFA, he will put money in, but not to Green by the looks of it!

Something stirred him up, and I still believe it was from the RFFF/Green meeting, maybe as GS says He thinks a CVA is now possible, he cant invest , so, why the alarm now, If he knew something on Green it would have came out in his statement which makes believe someone has passed info to him. ( or, im way off mark) lol

Could he? thought new SFA rules would bar him

What are FF followers saying about King's statement yesterday? me banned during the Miller bid lol, are they agreeing with King?

So has he gave up chasing Murray for it!

Christ just heard our tax bill has increased by 4m also

Timing smells then, just like a tbk move if you ask me

I don't honestly know either mate, but some big mouthed blagger has spouted what was said, why else would King come out with that statement now

Yesterday's meeting between the RFFF and Green lasted for over 3 hours and we were fed titbits what we needed to know. Going by Kings statement earlier, who divulged the rest of the meeting to him. Someone at that meeting has fed him everything about Greens plans and I could bet my mortgage on who.

Then again when has that man spoke anything truthfully.

Full moon? By Ronnie Esplin, Press Association Sport Rangers' controversial owner Craig Whyte has turned the tables on the Scottish Football Association by threatening to take them to court for defamation. Whyte had already been deemed unfit to hold an official position in the game by the SFA when he was handed fines totalling #200,000 by the ruling body in April for bringing the game into disrepute. At the same time the administration-hit Ibrox club were handed a 12-month transfer embargo - which was successfully appealed - and fined #160,000 after being found guilty of five charges relating to their financial affairs and the appointment of Whyte as chairman. The Motherwell-born businessman has refused to pay the fine, which he initially described as "a joke" and it was reported this week that the SFA's legal team were ready to pursue him through the courts for the money. However, when Whyte was asked by Press Association Sport for his reaction to the prospect of legal action being against him, he replied: "I will be going after them. I will be looking at legal options against the SFA. "They have a lot to answer for with their defamatory statements about me which formed the basis of their so-called investigation. "Scottish football's regulators are inept and have showed themselves up. But they have no jurisdiction over me." The SFA declined to comment. Whyte has agreed to sell his 85% shareholding in Rangers for #2 to Charles Green, who is leading the consortium in place to take control of the club. The former Sheffield United chief executive's group has pledged #8.5million for creditors who will be able to vote on a Company Voluntary Arrangement (CVA) next week. Should creditors reject the CVA, then Green would form a newco. Whyte is giving the CVA his full backing and is ready to walk into the sunset following his traumatic period as owner of Rangers, which began when he bought the club from Sir David Murray last year for #1. "I am 100% behind the CVA, I am very much in favour of it," he said. "I hope it goes through because it is the best way forward for the club and it will leave Rangers in an excellent situation. "My shares will form part of the consortium's shareholding and after that I will focus on other activities. "It has certainly been eventful year but I did what needed to be done, unpopular as it was. There was no alternative. It had to be done. "If it wasn't me it would have been someone else. "People will look back in a year or two with a different view. "People have conveniently forgotten the state Rangers were in at that time. "I should have taken the club into administration on completion of the deal. "But there was no way the situation would have been avoided unless someone came in and put in #100million and we have seen in recent weeks how difficult it is to get anyone to put money into a football club."

Why doesn't he show us his money then, WTF is he playing at, it's Murray he said he was going after, now this!

Lol please delete lol bloody Ipad

Dave King's press release: NO GREEN AND WHYTE AT IBROX I have continued to observe the lack of progress in the attempts to resolve the crisis at Ibrox. I hoped that a â??supportableâ? proposal would emerge from an individual or grouping that would meet the needs of the club. I see those needs comprising of four main components; 1. Any offer should demonstrate the capacity to not only acquire the club but to invest in the club going forward. 2. Any offer should be supported by the requisite business skills to ensure that the recent crisis is not repeated. 3. Any offer should recognise that the club cannot be run on purely business principles. The club has a â??soulâ?, a history, and a tradition going back 140 years. Our children and grandchildren are entitled to the same legacy that our fatherâ??s and grandfatherâ??s bequeathed to us. 4. Any offer should recognise that the fans are key stakeholders in the club, whether they are shareholders or not. In my view the CVA proposal that is being put forward for consideration by Duff & Phelps fails to demonstrate compliance with any of the above criteria. I accept the possibility that Duff and Phelps may know more than is contained in the CVA proposal, but if that is the case, why the lack of transparency? Duff & Phelps have earned enormous sums as administrators and have had sufficient time to ensure that full disclosure is made with any offer. One practical difficulty that Duff and Phelps has is that their prime responsibility is to those stakeholders that have a legal claim on the company. This excludes the many fans who are important stakeholders but not shareholders. This leads me to some specific concerns about the CVA proposal; 1. It is clear from the CVA proposal that Mr Green intends to repeat Mr Whyteâ??s strategy of using season ticket sales to fund the club. This would put fans back in the position of funding the club without owning it. 2. I made it clear to Duff and Phelps that I regard the Whyte acquisition of the shares from the Murray Group as being fraudulent and that myself and every other minority shareholder (all fan shareholders) have been prejudiced by this. The CVA gives no recognition to this difficulty and to what reparation will be made to those shareholders who have been abused by the terms of the sale to Mr Whyte. 3. I also advised Duff & Phelps that I was making a claim against the club for the full amount of my investment based on the deliberate non-disclosure by David Murray of transactions that he had committed to on behalf of the club that were both risky and to the sole advantage of the Murray Group. I have made that claim but Duff & Phelps have at this stage ignored my representations. 4. If it becomes necessary for me to prove my claim I intend to enlist the support of the other fans, like me, who are shareholders in order to ensure that we are all considered and represented. I further advised Duff & Phelps that any proceeds received in respect of my claim will be reinvested, in full, back into the club. I am sure that all other aggrieved investors (that are fans) will do likewise. This will ensure that a substantial portion of the funds used to acquire the club will still be available to invest in its future. 5. Mr Whyte gave me first right of refusal on his shares on the 29th September 2011. Andrew Ellis subsequently advised me that Mr Whyte had personally advised him about my first right of refusal but that Mr Ellis had a prior right to 24,9% of the shareholding from Mr Whyte. Based on my own history of dealings with Mr Whyte I have no reason to doubt Mr Ellisâ??s version. Either way, Mr Green cannot acquire the shares. It is not my intention, and I know Mr Ellis feels the same, to get in the way of a properly structured and a properly funded transaction that meets the needs of all stakeholders, including the fans. In my view, based on previous discussions with Mr Whyte, it is unlikely in the extreme that he would sell â??hisâ? shares to Mr Green for a nominal sum (even if he hadnâ??t committed them to me) unless he was obtaining some benefit or retaining some control behind the scenes. Duff & Phelps non-communicative approach to stakeholders causes me further concern in that regard. I am opposing the CVA and urge all loyal fans to do the same. We donâ??t want to be back in a similar situation next season. I also believe that all true Rangers fans should not buy any season tickets until full and frank disclosure has been provided by Duff & Phelps, Mr Green, and Mr Whyte, as to what is truly going on behind the scenes. Dave King Johannesburg 7th June 2012

Typical BBC crap, can't say anything positive about us and since we are feeling a bit reassured from RFFF meeting with Green, they dig for more negativity.

Alasdair Lamont ‏@BBCAlLamont Dave King also says he's making a claim against club for the full amount of his investment, based on "deliberate non-disclosure by David... Alasdair Lamont ‏@BBCAlLamont ...Murray of transactions that he had committed to on behalf of the club that were both risky and to the sole advantage of the Murray Group" Alasdair Lamont ‏@BBCAlLamont DK: "I also believe that all true Rangers fans should not buy any season tickets until full and frank disclosure... Alasdair Lamont ‏@BBCAlLamont ... has been provided by Duff & Phelps, Mr Green, and Mr Whyte, as to what is truly going on behind the scenes."

HMRC arrange for liquidators at Rangers if administrators fail to save club HM Revenue and Customs have arranged for liquidators to be appointed at Rangers should administrators fail to rescue the club. The tax authorities agreed the plan with current administrators Duff and Phelps, it was revealed on Thursday. Insolvency firm BDO have been lined up by HMRC should the current attempts to get the Ibrox club out of administration fail and they are put into liquidation. The move was made by HMRC in April after Duff and Phelps produced their proposals to remain in post, which those owed money had to vote on. On Thursday the administrators released the proposals approved by creditors, which originally asked them to rubber-stamp the appointment of Duff and Phelps as liquidators of Rangers should a proposed company voluntary arrangement (CVA) fail. The result of the creditors vote in April has also given the administrators power to "conclude a sale of the whole, or part of the business, property or assets of the company" without needings creditors permission, should the proposed CVA be successful. Now, should the CVA proposal funded by an £8.5m loan from the Sevco consortium led by Charles Green fail to receive the backing of creditors, the neutral insolvency firm would be called in. This would be in the case of the compulsory court-ordered winding up of the crisis-hit club, or if a creditors voluntary liquidation (CVL) took place as part of a 'newco' switch. According to documents released last week, in the event of the CVA failing, the consortium is "contractually obliged" to pay £5.5m for the "business and assets" of Rangers, which would be transferred to a completely different business entity, before the existing one is liquidated. The details of the newco deal are "confidential" and it is unclear whether the money to fund it would also take the form of a loan with interest. BDO and HMRC refused to comment on the agreement reached over the situation at the Glasgow club, which was plunged into administration on February 14 having failed to pay £14m in PAYE and VAT since Craig Whyte bought an 85% stake in the club in May 2011. http://local.stv.tv/...l-to-save-club/ I don't like the sound of this, also Dave King has been talking to the BBC. More to follow on why he wants us to oppose the CVA later. Quote Alasdair Lamont ‏@BBCAlLamont Dave King calls for Rangers fans to oppose Charles Green's CVA

HMRC have decided that in the event of the CVA not being accepted, they will be instructing BDO to carry out the liquidation - not Duff & Phelps. How that leaves Green's £5.5M deal for all assets is the unknown at the moment.

It says in the original email the proposal was "approved", does anyone know if this has any significance?

ok are you ready to make sense of this.............................. Our ref:PJC/PXH/SMS/LXNIRGF039/1 406841/03 ' 7 June 2012 Dear Sirs The Rangers Football Club Pc (In Administration) ("the Company") refer to my report and statement of proposals to creditors dated 5 April 2012. As you will be aware, a meeting of creditors was held by correspondence for the purposes of considering the Joint Administrators’ Proposals. Those proposals were approved with modifications as set out on Form 2.188 (Scot), a copy of which is attached, in accordance with Rule 2.35 of the Insolvency (Scotland) Rules 1986. Should you require any further information, please email ranqersduffandphelps.com . Yours faithfully For and on behalf of The. Rangers Football Club Plc Paul Clark Joint Administrator Enc. T he affairs, business and property of the Company are being managed by the Joint Administrators, Paul Clark and David Whitehouse. who act as agents of the Company and without personal liability. They are both licensed by the Insolvency Practitioners Association. 1 Duff & Phelps Ltd. +44 (0)20 7487 7240Duff & Phelps Ltd. Registered in Licensed Insolvency Practitioners acting as 43-45 Portman Squaree +44 (0)20 7487 72.99England. Company registration numberoffice holders act without personal liabili ty and London Wi H SLY wwmduffandpheIps.co.uk 05568550. Registered office: 32 unless otherwise stated are authorised by the United Kingdom Threadneedle Street. London EC2R 8AYInsolvency Practitioners Association Rule 2.35 The Insolvency Act 1986Form 2.18B(Scot) Notice of result of meeting of creditors Pursuant to Rule 2.35 of the Insolvency (Scotland) Rules 1986 Name of Company Company number The Rangers Football Club plc SC004276 (a) Insert full name(s)We (a) Paul John Clark and David John Whitehouse and address(es) of the Duff & Phelps Ltd. administrator(s) 43-45 Portman Square London W1 6LY (b) Insert relevant date Hereby report that a meeting of creditors was conducted by correspondence *De lete as applicable (pursuant to paragraph 58 of Schedule B1 to the Insolvency Act 1986 and Rule 2.28 (Scot) of the Insolvency Rules 1986) on 20 April 2012, at which: (d) Give details of the *1. Proposals I revised proposals were approved. modifications (if any) *2. Proposals I revised proposals were modified and approved. A copy of the modified proposals is attached: (d) A creditors’ committee *was was not formed. Signed Joint Administrator Dated 7 yUk/E. 201L *De lete as applicable A copy of the *original proposals / modified proposals I modified proposals is attached for those who did not receive such documents prior to the meeting. You do not have to give any contact information in the box opposite but if you do, it will help Companies House to contact you if there is a query on the form. The contact information that I Tel you give will be visible to searchers of the public record DX Number DX Exchange When you have completed and signed this form please send it to the Registrar of Companies at: Companies House receipt date barcode Companies House, 4th Floor, Edinburgh Quay 2,139 Fountainbridge, Edinburgh, EH3 9FF DX 235 Edinburgh I LP 4 Edinburgh-2 17.Joint Administrators’ Proposals 171The Joint Administrators propose the following: RESOLUTION (1) 171.1 That the Joint Administrators continue the Administration to deal with such outstanding matters in relation to the Company as the Joint Administrators consider necessary until such time as the Administration ceases to have effect- 17,1,2 That the Joint Administrators do all such other things and generally exercise all of their powers as contained in Schedule 1 of the Act, as they, in their sole and absolute discretion consider desirable or expedient in order to achieve the purpose of the Administration. 17.1.3 That the Joint Administrators can investigate and, if appropriate, pursue any claims the Company may have. 17.1.4 That the Joint Administrators can explore any and all options available to realise the assets of the Company without recourse to creditors. The Joint Administrators be authorised to conclude a sale of the whole, or part of the business, property and assets of the Company without having to obtain the sanction of the Company’s creditors at further creditors meetings, upon such terms as the Joint Administrators deem fit and they be authorised to liaise with all relevant parties, bodies or organisations which they deem relevant for achieving that purpose. 17.1.5 That the Joint Administrators seek to establish a creditors committee, and they be authorised to so establish a committee in such terms and on such basis as they deem fit without having to obtain any further sanction from the Company’s creditors at a further creditors meeting. RESOLUTION (2) 17.1.6 That the Joint Administrators may propose such CVA(s) or Scheme(s) of Arrangement as they deem appropriate and see fit, subject to the outcome of offers. 17.1.7 Upon approval of a CVA or Scheme of Arrangement to exit the Administration at such time as the Joint Administrators deem appropriate by making an application to the Court pursuant to paragraph 79 of Schedule 131 of the Act. 17.1 .8 That the Joint Administrators are authorised, subject to implementation of a CVA, to conclude a sale of the whole, or part of the business, property and assets of the Company, without having to obtain the sanction of the Company’s creditors at further creditors’ meetings, upon such terms as the Joint Administrators deem fit and they be authorised to liaise with all relevant parties, bodies or organisations which they deem relevant for achieving that purpose. 17.1.9 Any proposed Voluntary Arrangement or Scheme of Arrangement will be considered on its merits by HMRC Voluntary Arrangements Service. Acceptance of the Joint Administrator’s proposals by HMRC does not therefore imply acceptance of any Voluntary Arrangement proposals that may be put forward as a consequence. 17.1.10 That The Joint Administrators shall report to creditors no later than 3 months from the date of the meeting of creditors on the feasibility of a CVA or Scheme of Arrangement. UKMATTERS 21928413.1 RESOLUTION (3) 17.1 11 That the Joint Administrators, when it is anticipated that no better realisations will be made in the Administration than would be available in a winding up, take the necessary steps to Put the Company into either CVL or other compulsory liquidation as deemed appropriate by the Joint Administrators. In accordance with paragraph 83(7) of Schedule Bi to the Act and Rule 247 of the Rules, HMRC nominate Malcolm Cohen and James Bernard Stephen of BDO as joint liquidators of the Company and pursuant to Section 231 of the Act any act required or authorised under any enactment to done by the joint liquidators may be done by all or any one or more persons holding office as joint liquidators RESOLUTION (4) 17.1.12 That, without prejudice to or effect upon creditors rights to bring any challenge to the level of that remuneration shall they consider it appropriate to do so, the Joint Administrators’ remuneration be fixed by reference to the time properly incurred by them and their staff in attending matters during the Administration. 17.1.13 That the Joint Administrators statement of pre-Administration costs under Rule 2.25 of the Rules, where no Creditors’ Committee is established, be approved for payment in accordance with Rule 2.39C of the Rules. 171.14 That the Joint Administrators be authorised to draw their reasonably and properly incurred Category 2 Disbursements. UKMATTERS2192841 3.1

maybe moving the deadline again

Wonder if this has anything to do with the part about being in all competitions and they are willing to accept a Scottish Cup ban?