Concerns

[Brianb 0]

HMRC are already pissed with Rangers. With this approach by Bill Miller do you think they will just accept a CVA?

 

They want to make an example of us so they can go after the bigger clubs down south.

 

If they accept this approach from us then they have no chance of getting anything from other clubs.

 

This approach will ensure they block a CVA. I reckon the would have done so anyway given the above points.

[GovanAllan 0]

Well since we need to follow the Uefa rulebook it is probably important to know the ins and outs of it. Just saying.

So it's 3years with no Euro football if we newco, I'm shaking in my boots we need to get this we must have Euro money or we're doomed crap out of the way. Once and for all we must live within our means without Euro money end of story no ifs no buts. We need to get working within the UEFA spending policy anyway so what better way to do.

 

I mean look at the Mhanks across the city no Euro money they've managed and I'm sure they will meet the new rules on spending won't they, oh wait they won't well what do you know a club spending out with its means surely sanctions must follow.

[caseyjones 0]

Why???

 

Via the BK's bid, the creditors could take the view that they would receive more cash by selling the assets ie. forced liquidation.

With Mr Miller's bid, the current company has no assets, but £11m sitting in the bank for the creditors. If they force liquidation, they will still only get a cut of £11m - so nothing to gain.

 

The 'normal' creditors won't be sharing anything like £11m, unless we are due damages from Collyer Bristow. They'll be fortunate to receive anything whatsoever.

[Darthter 542]

HMRC are already pissed with Rangers. With this approach by Bill Miller do you think they will just accept a CVA?

 

They want to make an example of us so they can go after the bigger clubs down south.

 

If they accept this approach from us then they have no chance of getting anything from other clubs.

 

This approach will ensure they block a CVA. I reckon the would have done so anyway given the above points.

 

My understanding is that HMRC are pissed @ Whyte. Reports over the past weeks/months indicate that HMRC will play ball with Rangers, providing that Whyte isn't running the show.

 

Under Miller's plan, HMRC will receive some payment.....which is better than nothing. How would HMRC explain it if they refused a multi-million pound payout, and ended up with next to nothing - the Treasury wouldn't be too chuffed @ that. That is the possibly reality of the BK's bid. If the CVA failed, RFC would be liquidated, with Ibrox, MP etc being sold to anyone who makes an offer.

[caseyjones 0]

So it's 3years with no Euro football if we newco, I'm shaking in my boots we need to get this we must have Euro money or we're doomed crap out of the way. Once and for all we must live within our means without Euro money end of story no ifs no buts. We need to get working within the UEFA spending policy anyway so what better way to do.

 

I mean look at the Mhanks across the city no Euro money they've managed and I'm sure they will meet the new rules on spending won't they, oh wait they won't well what do you know a club spending out with its means surely sanctions must follow.

 

I can see a plethora of clubs withdrawing from European competition to get themselves used to living within their means.

[Darthter 542]

The 'normal' creditors won't be sharing anything like £11m, unless we are due damages from Collyer Bristow. They'll be fortunate to receive anything whatsoever.

 

They WILL get their share....how much that share will equate to is another matter. The kinda flip side of that is, how much of a say will the "normal" creditors get is agreeing the CVA??? The decision will mostly be down to HMRC & Ticketus will it not??

[caseyjones 0]

They WILL get their share....how much that share will equate to is another matter. The kinda flip side of that is, how much of a say will the "normal" creditors get is agreeing the CVA??? The decision will mostly be down to HMRC & Ticketus will it not??

 

You're talking about HMRC being offered a multi-million quid settlement. Just where are you getting these figures from?

[Brianb 0]

No there have been no such reports. Unless you are talking about from the media who told us CW was a billionaire. The same media that told us that TBK would easily achieve a CVA.

 

When will you realise that you cannot trust the media?

 

If HMRC play ball then they will have to with every other club. If they were going to play ball they would have done so by now.

[GovanAllan 0]

I can see a plethora of clubs withdrawing from European competition to get themselves used to living within their means.

 

Missing the point CJ we made nothing this year and I seriously doubt with the spending cuts that we would get anywhere for the next couple of years. So a 3 year ban is nothing much to worry about for us totally different if you have a club who rely on this money as we showed this year and that has to stop. So going cold turkey for 3 years to get the house in order is not the worst thing in the world.

[GovanAllan 0]

Taking away the newco/liquidation aspects, the biggest concern for me is funding.

 

We're led to believe he has around $25million liquidity in hand due to selling various share interests he has. Fair enough, that will buy the club but where is the money for the club going forward?

 

Also, who is going to provide the usual overdraft facility and how does he expect us to be competitive in the likely event of 3+ years without European football.

You spend what you make its that simple it's going to be bloody hard but it has to be done better to get ahead of the rest on this.