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The decision


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Also, Iam quite sure that BDO will not accept that the fine is to be added to the list of Creditors as it is too late to be added, so therefore it will not be paid, even at whatever rate is eventually agreed p in the £ with creditors.

 

I await the SPL now trying to pass this debt on under the 5 way agreement to the current Rangers board. They are in desparate need of the cash as this case has cost them about £500K. Nice work for celtics lawyers and LNS.

 

Are you sure that it is too late to be added ? What is the time limit for making claim against an insolvent company ?

 

In Bermuda you can actually make claim up to 10 years after the insolvency event I think - not that you would get paid....

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Are you sure that it is too late to be added ? What is the time limit for making claim against an insolvent company ?

 

In Bermuda you can actually make claim up to 10 years after the insolvency event I think - not that you would get paid....

 

I am only going with what I have heard. BDO had already intimated, off the record like, that if a fine was imposed on oldco they would refuse to add it to the creditors list. They must have some legal way of doing this or it may just be bluster, but all the same it would be fantastic to find out that the SPL's fine for this shambles was never realised.

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I would think that by registering the decision against the 'oldco', the SPL - in the event that BDO come after the SPL for illegally witholding last year's prize money - can offset the 250k from any judgement BDO may get against them. A hollow victory indeed, but justification for going forward with this farce was required.

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I would think that by registering the decision against the 'oldco', the SPL - in the event that BDO come after the SPL for illegally witholding last year's prize money - can offset the 250k from any judgement BDO may get against them. A hollow victory indeed, but justification for going forward with this farce was required.

 

Are the SPL allowed to withhold funds from Company liquidators?

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