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Are the SPL allowed to withhold funds from Company liquidators?

 

It appears from other posters that it is too late for the SPL to add this fine to the list of creditors of the old company, so it would appear that this whole witch hunt has been an exercise in futility.

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It appears from other posters that it is too late for the SPL to add this fine to the list of creditors of the old company, so it would appear that this whole witch hunt has been an exercise in futility.

 

The administrators had a deadline whereby all claims had to be registered. Not sure if the SPL registered a claim for an amount TBA.

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Was the debt not transferred to newco as part of Greens buy-out? If so, the the liquidators would have no claim to it.

 

When the old co entered into liquidation there was no longer any debts required to be paid. As part of the five-way agreement Charles agreed to pay off all domestic and foreign "football" debts. I guess he figured it would be easier if he mended some fences.

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On FF there and Traynor has not been invited (yet) to go on the show. Not sure who will be on to represent RFC against that pair of horrible liars and Rangers-haters.

 

*this* moment is why we got JT in, in the first place. He should *demand* to be on that show, or tell them that nobody from Rangers will appear - this is too good an opportunity.

 

With these two birds, in this case shitehawks, in one place, we need the biggest stone we have.

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When the old co entered into liquidation there was no longer any debts required to be paid. As part of the five-way agreement Charles agreed to pay off all domestic and foreign "football" debts. I guess he figured it would be easier if he mended some fences.

 

Debt due to the club, not by the club is what we are talking about. :)

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Is it just me or not?

 

Every time a story breaks some guys I know hit me with texts almost immediately - an action that they find pretty funny. But today it appears that they have no battery in their phone. Even when I sent them a little "just wondering if your breathing?" message there is still no response. No fun anymore (for them)

 

It has went awfully quiet eh?

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SPL Statement - Independent Commission The SPL Board appointed the Independent Commission to consider all aspects of the above matter and at no point provided any direction to the Commission on any aspect of the case.

 

The SPL Board notes that the Commission has upheld a number of complaints against Rangers OldCo and that Rangers OldCo has been found to have breached SPL and Scottish FA Rules over an 11-year period in relation to the non-disclosure of financial arrangements involving many of its Players.

 

The SPL Board are assured by the integrity of the process followed and thank The Rt Hon Lord Nimmo Smith and his colleagues, Nicholas Stewart QC and Charles Flint QC, for their time and effort.

 

The Board wishes to give the detail of the decision further consideration at its next meeting.

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Debt due to the club, not by the club is what we are talking about. :)

 

Sorry, it took me a bit of time to find this article. Here is the link so that you can read the whole thing

http://bleacherreport.com/articles/1300528-scottish-football-association-the-rangers-football-club-already-making-trouble

 

For the sake of our discussion I have copied this part ...

 

 

" Not strictly true. On May 18, The Rangers Football Club did not exist.

 

It was formed on May 29 (as Sevco Scotland) and did not buy the business and assets of Rangers Football Club until June 14.

 

So the SPL wrote to Rangers Football Club at a time when it was still a member of the SPL and clinging on to life by its fingertips.

 

 

Working on the assumption that Rangers Football Club would still be a member of the SPL this season, the SPL agreed that they would withhold prize money from Rangers Football Club and distribute it to its Scottish soccer creditors.

 

The SPL’s agreement, then, was with Rangers Football Club.

 

No such agreement was made with The Rangers Football Club, which is a different club, and has no right to the prize money won by Rangers FC last season."

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