North Rd

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

... says who exactly?

 

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!

I thought that as well, but the way he's carried on he must think he can get around that.

 

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

And he's shit himself, I honestly believe he thought and wanted us to go to the wall and he would ride in and pick up the pieces.

 

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?

he's claiming it from the buyers I thought.

 

perhaps I misread.

 

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!

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?

Seems D & P's results of proposals to creditors document is pretty humdrum stuff.

RT @BBCAlLamont: Duff & Phelps issue revised and approved proposals to Rangers' creditors. Awaiting analysis of said proposals.

Sorry Disagree, His name should be wiped after selling to Whyte.. Duped! my ass