Darthter 542 Posted April 11, 2012 Share Posted April 11, 2012 Thinking about this last night. Has Whyte not got a history of doing similar before??? He has effectively transferred the security/guarantee from the RFC group which owns the club, to another company with no official connection to the football club. Therefore in the event of liquidation, the club & parent company have no assets, so therefore cannot pay creditors ANYTHING. on the other hand.... I also believe that the guarantees given to Ticketus were probably from Liberty Corporate (which now holds the floating charge). Therefore if the admins rip up the deal and refuse to pay, Ticketus will go after Liberty Corporate to cash in on the guarantee.....which now has security over Ibrox, Murray park etc!!!! I may not have ANY of the above correct (not being financially minded), but it is kinda worrying.... 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted April 11, 2012 Share Posted April 11, 2012 Ma heeds just aboot ta burst. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted April 11, 2012 Author Share Posted April 11, 2012 Ma heeds just aboot ta burst. It's really not good thinking about this stuff when your trying to get to sleep.... 0 Quote Link to post Share on other sites More sharing options...
Juancornetto 1 Posted April 11, 2012 Share Posted April 11, 2012 He has basically done the same thing as he was banned from Directorship for 10 years ago, transferring of assets is seriously frowned upon by the FSA. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted April 11, 2012 Share Posted April 11, 2012 Group holds security over the assets of the club. Liberty hold security over Group's assets, which are the shares of Rangers. If Ticketus go after Liberty then they can only get cash from Group that they are owed and Group can only get cash from the club that they are owed. As Group are not owed anythying by the club, they have no call on their assets.....unless the club has given an additonal guarantee that nobody knows about. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted April 11, 2012 Author Share Posted April 11, 2012 Group holds security over the assets of the club. Liberty hold security over Group's assets, which are the shares of Rangers. If Ticketus go after Liberty then they can only get cash from Group that they are owed and Group can only get cash from the club that they are owed. As Group are not owed anythying by the club, they have no call on their assets.....unless the club has given an additonal guarantee that nobody knows about. Think I follow that.... Basically the transfer of the floating charge, does not have ANY impact on the clubs assets ie Ibrox/MP etc - these are still owned/secured by the club as opposed to the RFC Group. 0 Quote Link to post Share on other sites More sharing options...
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