Administrators Press Conference 16.02.2012, 3.45 pm - Live on STV

[BlueMazza 0]

if Ticketus didn't pay the cash to us then how can be be due to pay it back? Tell them to do one and go after whoever they paid the cash to.

 

As for us not receiving the cash, that sounds like theft.

 

Apparently went through parent company or something. I think they mean Wavetower. It does all sound fairly Del Boy!

[54andcounting 0]

Three Cheers to BlueMazza....well done lass.

[BlueMazza 0]

I think the most worrying thing for fans is that Administration was the only option due to no PAYE tax/ni contributions for months. They said that accruing a further (rounded) £10 million tipped us over the edge. So where does that leave us with Whyte? What happened to it?

[craig 5,199]

Yeah BD, they said the ticketus money (24 million.... NOT "closer to 20 mill" as per CW) went through a parent company, no security on that amount.

 

Have to provide a report on the dealings of the directors.

 

Appointed by court, acting on behalf of court.

 

Personally I was impressed with both gentlemen and how quickly they seemed to have brought themselves up to speed.

 

They believe that they will be able to get the big tax case included in the administration process (not worded particularly well by me) - effectively they said that whilst they dont know either the outcome nor the quantum of the big tax case they CAN discuss it with HMRC in trying to pull it into the administration in the event that we have a liability to pay.

 

Impressed that they understand that we have a 140 yr history and tradition and that their first priority at the outset was to provide information the "millions of Rangers fans worldwide who want to know what the future holds for their club".

[craig 5,199]

I listened to it all and you couldnt hear the questions being put forth but they seemed forthright in their answers.

 

Have to concur with BD, BlueMazza THANK YOU for keeping everyone updated on what was being said. I dont think you missed much if anything at all (typical woman )

[Bears 0]

did they say CW is the main creditor?

[BlueMazza 0]

One thing, whilst I have less confidence in Craig Whyte, I feel I have more confidence the club can come out of this, with this team steering it,rather than Whyte running rough shod. For me, the history of the club IS IMPORTANT. I don't want a Phoenix club.

I thought they were balanced and responsive, especially considering some of the questions thrown at them.

[Juancornetto 1]

did they say CW is the main creditor?

 

They said it that would need to be investigated and confirmed. No definitive answer.

[BlueMazza 0]

did they say CW is the main creditor?

 

They didn't confirm anything really. They said something checking the validity of the security with Wavetower. The security centres on ibrox and Murray Park (our two assets I suppose). Once they can confirm it's valid then I suppose so.

So where does the Ticketus debt sit?

[craig 5,199]

did they say CW is the main creditor?

 

Aside from HMRC.... dependent on big tax case... (conjecture on my part).

 

They said that CW (or one of his companies) was the major secured creditor but that they would need to check on the validity of said security (I think this is what they said, was hard to hear what the questions were - they could have been asked if there was security over MP and Ibrox)

 

Sorry I couldnt be clearer Bears.