This "loan" from Green to fund club through CVA

[Tannochsidebear 2,320]

There has been a lot of talk, mostly negative, about the fact that the funding of the club by Green through the CVA is being done through a loan agreement with certain repayment criteria and interest.

 

Many have jumped on it and wrongly tried to declare that this means he is not really putting any money in, just lending us it until we can pay it back some way down the line.

 

Lets nail this right now.

 

In order to get a CVA agreed, Green had to pump the cash in to fund the CVA and to fund the club from June 1 when the club's cash under admin ran out. It is not certain yet if the CVA will be agreed, as that is up to the Creditors and while it is looking good, nothing concrete can be relied upon at this stage.

 

What were his options to put this money into the club in reality?

 

1. He does it the way he has done, a loan which would be repayable if the CVA fails and the club is liquidated. If the CVA is approved the loan turns into Capital via shares, and the club exits administration. The loan will not be repaid if the CVA is successful. I can absolutely say that for certain. This is the quickest and best way of getting the money in and the deal done. He is not allowed to officially say this will happen as that would constitute an offer and would be the same as option 2 below.

 

2. He puts the money in as Capital. Under the rules of this as has been explained to me, he would have to then make an offer for every share available (the 15% not already owned by him). This is very time consuming and costly.

 

 

Obviously these things are very complicated and well over the heads of most of us, and it is not helped by some who actually know what the deal is and are deliberately stoking up the opposite view to create mischief to follow their own petty agendas. We are having enough trouble with our enemies without some of our own support being obstructive and divisive.

 

What is the only important issue around just now is that the CVA is approved next week. We have already seen a barrage of negative stories trying to derail this process from achieving a successful outcome, and some of these stories have come from so-called Rangers fans who seem to now want us to be liquidated in order that there favoured party can gain control.

 

Firstly we had Green has no money. He has proven he has.

Next it was Green's camp is deserting him, nobody has walked away that was already declared as being in.

Remember Kennedy saying that if his team were not in by 12 noon the next day a CVA would be impossible? Thats funny because Green came in later than that and still managed to get a CVA out to creditors.

We have had accusations of David Low being involved. He is not.

We heard accusations that King was suing the club a couple of weeks ago, but he has yet to file papers. He has yet to provide D&P with ANY evidence. His statement yesterday was another attempt to derail the CVA.

 

There is oh so very much more that I cannot put down that has been done to try to disrupt the process from so-called Rangers fans and they really should now give it up and let the club get on with it.

 

By all means we have to keep asking the questions of Green and his consortium, and the RFFF are doing a great job (statements apart!) at pushing Green in every direction to ensure this is getting done properly and with the best intentions. There are still a lot of valid questions we need answered, and the more time we spend trying to get answers to ridiculous accusations that are made up to suit a certain agenda is taking valuable time away from the important issues.

[GovanAllan 0]

I take it this was discussed at the meeting TB?

 

And thanks again all we want are the plain facts nothing more nothing less.

[Frankie 8,182]

Thanks for the update mate - much appreciated!

[CumbernauldGers 0]

Thanks for the update mate. as i said on the day of the meeting it would be best to wait for further info to come out rather than jump on the anti-Green bandwagon.

 

All seems good so far, still early days but seems good.

[North Rd 0]

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

[GovanAllan 0]

Your post has been nicked TB and up on FF, getting a good response think the TBK brigade are a bit stumped with it.

[stewarty 1,877]

Its certainly going to be a big week. If the CVA is approved, Green has promised to reveal more about his backers and some of the finer detail and proof that his takeover stacks up. If the CVA fails, we move toward a newco. Who would bet against the FTT announcing its findings too?

[BlueMazza 0]

Well put, thanks for that

[Tannochsidebear 2,320]

My OP has nothing to do with the meeting between Green and the RFFF. It is pretty much all information that is out there, and proper reading between the lines. I was actually going to write it a week ago when the issue of the "loan" first came up, but I went on holiday and only came back on Tuesday, so it is not influenced by the meeting on Wednesday at all, more a frustration at the way others are working the agenda.

[kuznetsov 0]

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

 

As have some of our fans. I still think liquidation is a certainty and has been planned all along.