Bluedell 5,350 Posted March 13, 2012 Share Posted March 13, 2012 Does anyone know what the bidders (including the Blue Knights) will be buying? 1. Is it Craig whyte's shares? Can the administrators sell them? 2. Is it everyone's shares? Can the administrators sell my shares? 3. is it just the trade and assets of the club? Will it be a newco? 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted March 13, 2012 Share Posted March 13, 2012 You've got as much clue as I have. Or anyone has, I'd say. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted March 13, 2012 Share Posted March 13, 2012 What have the Romans ever done for us , oh matron my head 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,350 Posted March 13, 2012 Author Share Posted March 13, 2012 (edited) But Neil Patey of Ernst & Young is convinced that Whyte will only become â??irrelevantâ? if he agrees to do so. And he believes that any share issue of the kind proposed by Murray could only proceed with the consent of the present shareholders, Whyte included. â??Everybody, except Craig Whyte himself, appears to be assuming that when the club is sold, Whyte will no longer be a factor,â? Patey said yesterday. â??I canâ??t see why this should be the case. â??Iâ??ve discussed this issue with several colleagues who work in the same field, and they are of the same opinion. If Whyte refuses to sell his shares and says â??I still want to be involved with Rangersâ??, itâ??s not clear to me how the administrators or any possible new owners could deal with that. â??The administrators cannot sell a companyâ??s shares. Craig Whyte still owns his shares. And any new share issueâ? â?? which could dilute Whyteâ??s holding â?? â??has to be made with the agreement of the existing shareholders.â? Looks to me as if it may be a newco, although there are conflicting opinions. Edited March 13, 2012 by Bluedell 0 Quote Link to post Share on other sites More sharing options...
laudrup11 0 Posted March 13, 2012 Share Posted March 13, 2012 (edited) Rangers’ Administrators Have Applied to the Court of Session to be Appointed Administrators of Rangers If they are successful in this is it not the case Whyte no longer has a say? http://wck2.companieshouse.gov.uk/a97762db430f97bbaebf438f12cf73bf/wcprodorder?ft=1 Edited March 13, 2012 by laudrup11 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted March 13, 2012 Share Posted March 13, 2012 Whyte bought the club for 1 quid, right ? And there were covenants placed on the sale. Non-compliance with the covenants resulted in what ?? Anyone know. Whyte may be the shareholder but was it not you, BD, that suggested that purchasing the club with the fans money (the forward selling of ST's) was illegal ? If so then he could be forced to sell, no ? 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted March 13, 2012 Share Posted March 13, 2012 Rangers’ Administrators Have Applied to the Court of Session to be Appointed Administrators of Rangers If they are successful in this is it not the case Whyte no longer has a say? Not in the running of things.... but he still is the OWNER given his shareholding. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,350 Posted March 13, 2012 Author Share Posted March 13, 2012 Rangers’ Administrators Have Applied to the Court of Session to be Appointed Administrators of Rangers If they are successful in this is it not the case Whyte no longer has a say? I believe it means that he can't replace them with other adminiostroros but not sure that it means anything else. 0 Quote Link to post Share on other sites More sharing options...
laudrup11 0 Posted March 13, 2012 Share Posted March 13, 2012 I believe it means that he can't replace them with other adminiostroros but not sure that it means anything else. Cheers BD wasn't sure on exact implications of this just thought with taking that action and talk of seizing his shares this would go some way to ensuring a quick or a smoother sale of club 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,350 Posted March 13, 2012 Author Share Posted March 13, 2012 Whyte bought the club for 1 quid, right ? And there were covenants placed on the sale. Non-compliance with the covenants resulted in what ?? Anyone know. Whyte may be the shareholder but was it not you, BD, that suggested that purchasing the club with the fans money (the forward selling of ST's) was illegal ? If so then he could be forced to sell, no ? I'm not sure of the legality, Craig. I suggested it was fraudulent, I believe, but that may not mean illegal. Even if it was illegal, and the seller does not want the shares back, I'm not sure that they can just be sold off. Basically, I don't have a scooby. 0 Quote Link to post Share on other sites More sharing options...
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