Super Cooper 0 Posted June 13, 2013 Share Posted June 13, 2013 We were sent to Div 3 for being liquidated. Has the oldco even been liquidated yet? 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,306 Posted June 13, 2013 Share Posted June 13, 2013 We were sent to Div 3 for being liquidated. Rangers FC weren't liquidated. The oldco's assets (including the club,stadium & MP) were sold to Charles Green's newco after the CVA got rejected. The oldco is an empty corporate shell in the process of being liquidated which will take years. Hertz are in a similar situation. The parent company UBIG (which is bankrupt) owns the assets i.e. Hertz & the stadium. These assets will need to be sold to a newco (if anyone wishes to buy them) 0 Quote Link to post Share on other sites More sharing options...
Blue Moon 1,121 Posted June 13, 2013 Share Posted June 13, 2013 Rangers FC weren't liquidated. The oldco's assets (including the club,stadium & MP) were sold to Charles Green's newco after the CVA got rejected. The oldco is an empty corporate shell in the process of being liquidated which will take years.Hertz are in a similar situation. The parent company UBIG (which is bankrupt) owns the assets i.e. Hertz & the stadium. These assets will need to be sold to a newco (if anyone wishes to buy them) According to the football authorities, the situation with Hearts is not clear cut. I am sure someone on here backed up that view. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,306 Posted June 13, 2013 Share Posted June 13, 2013 According to the football authorities, the situation with Hearts is not clear cut. I am sure someone on here backed up that view. Not clear cut? looks very clear to me. Parent company UBIG is bankrupt. SFL3 for hertz 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted June 13, 2013 Share Posted June 13, 2013 Not clear cut? looks very clear to me. Parent company UBIG is bankrupt. SFL3 for hertz I can't see that happening Rab. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,306 Posted June 13, 2013 Share Posted June 13, 2013 I can't see that happening Rab. Why not? same scenario to us last year IMO 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted June 13, 2013 Share Posted June 13, 2013 Why not? same scenario to us last year IMO Hearts are not and never have been a threat to Celtics dominance. We are the one they wanted. I have a feeling Hearts will get a helping hand from somewhere. 0 Quote Link to post Share on other sites More sharing options...
amms 0 Posted June 13, 2013 Share Posted June 13, 2013 According to the football authorities, the situation with Hearts is not clear cut. I am sure someone on here backed up that view. It's true though. As of today Hearts are not in administration as such there isn't anything that can be done to them. Whilst UBIG are that's in Lithuania, Hearts are registered in Scotland and until they officially go into administration here they haven't broken any rules. It does look like it'll just be a matter of time though. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted June 14, 2013 Share Posted June 14, 2013 If their parent company UBIG is bust then they'll need a new parent company i.e. newco. Why then aren't they being sent to SFL3 (or whatever the bottom tier will soon be called) like we were ? why is no one from Rangers asking such questions ? They aren't being sent to SFL3 because they haven't even had an insolvency event yet. They aren't even in administration - we were sent to SFL3 because we had a failed CVA and newco was the only option - even if that is what WILL happen to them, as it hasn't happened YET the SPL cant really expel them. Will be interesting to see what happens when they DO have that insolvency event though. 0 Quote Link to post Share on other sites More sharing options...
Gribz 743 Posted June 14, 2013 Share Posted June 14, 2013 Will be interesting to see what happens when they DO have that insolvency event though. Agreed. I am not sure what they are waiting for TBH as a miracle buyer or bailout doesnt look forth coming. They should be preparing for long term. No OF Derbies, no Edinburgh derbies and no Dundee derbies...how are the SPL going to sell a TV package to SKY? Old skicky balls in the cup draws is likely! 0 Quote Link to post Share on other sites More sharing options...
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