chilledbear 16 Posted June 27, 2012 Share Posted June 27, 2012 Rangers’ takeover consortium has hived off Ibrox and Murray Park to a separate new company. Sevco Scotland Limited has applied to the Registers of Scotland for the title deeds for the stadium and the training ground Murray Park, as well as the Albion car park, to be disposed to it. The company, whose sole director is Charles Green, is separate from the 'newco' that was due to receive the club’s assets as previously identified by administrators Duff and Phelps. According to proposals sent out to creditors owed £124m by the club, the new business entity that would hold the assets of the club was Sevco 5088 Limited, established by London law firm Field Fisher Waterhouse, which is advising Mr Green’s consortium on the takeover. Sevco Scotland Limited, which was incorporated on May 29, made applications to transfer the title deeds of the property on June 15, the day after Mr Green held a media conference at Ibrox with the consortium’s 'financial adviser', Imran Ahmad, where he announced the purchase of the club’s assets had gone ahead. The asset sale to a newco came after the proposed company voluntary arrangement (CVA) offer to creditors, funded by an £8.5m loan from Sevco, was rejected by HM Revenue and Customs (HMRC). According to the title deeds lodge with the Registry of Scotland, the floating charge transferred to previous owner Craig Whyte is still outstanding over the Murray Park training ground in Auchenhowie Road, Milngavie. The standard security to the Scottish Sports Council over the facility, created in 2002, is also still active according to the registry. Under the purchase of the club’s assets outlined by Duff and Phelps, Green’s consortium wear to put £5.5m into Rangers FC plc, before the property and other assets were transferred to the newco, Sevco 5088. The relationship between the two Sevco companies is currently unclear, while Mr Green is also listed as the sole director of another business entity called RFC 2012 Limited, which was incorporated last Thursday, June 21. http://local.stv.tv/glasgow/108240-rangers-crisis-ibrox-and-murray-park-hived-off-to-separate-newco/ 0 Quote Link to post Share on other sites More sharing options...
Max Rebo's Big Blue Nose 0 Posted June 27, 2012 Share Posted June 27, 2012 Everyday a new skeleton emerges from the cupboard... What a fleckin mess. 0 Quote Link to post Share on other sites More sharing options...
foggy dewhurst 0 Posted June 27, 2012 Share Posted June 27, 2012 this to my reading means that green owns ibrox and murray park could it be that if he sells the football side he will be in a position to then rent out the park and training ground as a private landlord meaning he could sell up when the notion takes him leaving the owners of the football side high and dry . 0 Quote Link to post Share on other sites More sharing options...
Blue Moon 1,118 Posted June 27, 2012 Share Posted June 27, 2012 The fans are entitled to know what is going on. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 27, 2012 Share Posted June 27, 2012 he can sign a deal for rangers to lease the lot for 100 years then just give the football side to the fans. I think we will need to hope ibrox is returned to us under the procceds of crime act. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted June 27, 2012 Share Posted June 27, 2012 One word - unacceptable. 0 Quote Link to post Share on other sites More sharing options...
stewarty 1,878 Posted June 27, 2012 Share Posted June 27, 2012 What the f*** is going on? Wont anyone tell us? 0 Quote Link to post Share on other sites More sharing options...
way2go 0 Posted June 27, 2012 Share Posted June 27, 2012 A difficult man to gauge is green.Something is going on but I just don't know what yet. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,457 Posted June 27, 2012 Share Posted June 27, 2012 Rangers’ takeover consortium has hived off Ibrox and Murray Park to a separate new company. Sevco Scotland Limited has applied to the Registers of Scotland for the title deeds for the stadium and the training ground Murray Park, as well as the Albion car park, to be disposed to it. The company, whose sole director is Charles Green, is separate from the 'newco' that was due to receive the club’s assets as previously identified by administrators Duff and Phelps. According to proposals sent out to creditors owed £124m by the club, the new business entity that would hold the assets of the club was Sevco 5088 Limited, established by London law firm Field Fisher Waterhouse, which is advising Mr Green’s consortium on the takeover. Sevco Scotland Limited, which was incorporated on May 29, made applications to transfer the title deeds of the property on June 15, the day after Mr Green held a media conference at Ibrox with the consortium’s 'financial adviser', Imran Ahmad, where he announced the purchase of the club’s assets had gone ahead. The asset sale to a newco came after the proposed company voluntary arrangement (CVA) offer to creditors, funded by an £8.5m loan from Sevco, was rejected by HM Revenue and Customs (HMRC). According to the title deeds lodge with the Registry of Scotland, the floating charge transferred to previous owner Craig Whyte is still outstanding over the Murray Park training ground in Auchenhowie Road, Milngavie. The standard security to the Scottish Sports Council over the facility, created in 2002, is also still active according to the registry. Under the purchase of the club’s assets outlined by Duff and Phelps, Green’s consortium wear to put £5.5m into Rangers FC plc, before the property and other assets were transferred to the newco, Sevco 5088. The relationship between the two Sevco companies is currently unclear, while Mr Green is also listed as the sole director of another business entity called RFC 2012 Limited, which was incorporated last Thursday, June 21. http://local.stv.tv/glasgow/108240-rangers-crisis-ibrox-and-murray-park-hived-off-to-separate-newco/ Is this the reason thaat the players are all leaving?,they did say they would if CW was still involved 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted June 27, 2012 Author Share Posted June 27, 2012 Is this the reason thaat the players are all leaving?,they did say they would if CW was still involved Well one of them should say so. 0 Quote Link to post Share on other sites More sharing options...
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