der Berliner 3,239 Posted September 1, 2013 Share Posted September 1, 2013 It is blackmail pure and simple ... and not just here. Now that it is out, any shareholder of the oldco could e.g. take this to UEFA and make it clear what forces pushed oldco into admin and how the "club" was treated thereafter by great mother SFA ... 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,254 Posted September 1, 2013 Share Posted September 1, 2013 It is blackmail pure and simple ... and not just here. Now that it is out, any shareholder of the oldco could e.g. take this to UEFA and make it clear what forces pushed oldco into admin and how the "club" was treated thereafter by great mother SFA ... I'm still amazed that they could withhold the oldco prize money for season 2011-12. I'd have thought BDO would have been legally obliged to get that for the oldco creditors. I wouldn't have thought it would have been for negotiations with the newco 0 Quote Link to post Share on other sites More sharing options...
Juancornetto 1 Posted September 1, 2013 Share Posted September 1, 2013 My reading of this document is that it represents the agreement which Green & Co DID eventually sign up to. It's obviously not the notorious 5-way agreement which would have seen Rangers concede titles in order to retain SPL status. Now THAT's the document I'd like to see... did such a document ever exist then ? The infamous "First Draught"....I'm sure it did exist and was much more draconian than the draught that has surfaced. Charles Green balked at it and he would have accepted pretty much anything to get his investment turning over money again. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted September 1, 2013 Share Posted September 1, 2013 super ally baulked at it. green would have accepted anything to start making cash. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,239 Posted September 1, 2013 Share Posted September 1, 2013 I'm still amazed that they could withhold the oldco prize money for season 2011-12. I'd have thought BDO would have been legally obliged to get that for the oldco creditors. I wouldn't have thought it would have been for negotiations with the newco Yep. As has been said, any decent enough lawyer should be able to rip the SFA and SPL a new one over this ... and you wonder if the club itself can't do it, whether anyone else with some interest (oldco shareholder being deprived of his "share" in the price money) can? (The Yahoos would sure find some enthusiastics who would do that job for them, should it have come to pass.) 0 Quote Link to post Share on other sites More sharing options...
Calgacus 8 Posted September 1, 2013 Share Posted September 1, 2013 I'm still amazed that they could withhold the oldco prize money for season 2011-12. I'd have thought BDO would have been legally obliged to get that for the oldco creditors. I wouldn't have thought it would have been for negotiations with the newco Duff and Phelps gave the right to c;aim the prize money to Green Co, who then were forced to surrender it in the negotiations. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,254 Posted September 1, 2013 Share Posted September 1, 2013 Duff and Phelps gave the right to c;aim the prize money to Green Co, who then were forced to surrender it in the negotiations. and did D&P have the right to do this? I'm sure the Insolvency Service may think otherwise 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted September 1, 2013 Share Posted September 1, 2013 I'm still amazed that they could withhold the oldco prize money for season 2011-12. I'd have thought BDO would have been legally obliged to get that for the oldco creditors. I wouldn't have thought it would have been for negotiations with the newco BDO have already reported on the matter, there is nothing they can do about it. Thing to remember is it was to form part of Green & Co's offer, effectively D&P, Green & Co tried to f*&k over the creditors and Green & Co got f*&ked over by the SPL/SFA. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,254 Posted September 1, 2013 Share Posted September 1, 2013 BDO have already reported on the matter, there is nothing they can do about it. Thing to remember is it was to form part of Green & Co's offer, effectively D&P, Green & Co tried to f*&k over the creditors and Green & Co got f*&ked over by the SPL/SFA. as I said earlier the Insolvency Service may think otherwise. That money most certainly didn't belong to the SPL 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted September 1, 2013 Share Posted September 1, 2013 as I said earlier the Insolvency Service may think otherwise. That money most certainly didn't belong to the SPL BDO have looked into the matter and there is absolutely nothing they can do about it. Whilst it may well have been an immoral act it was not illegal, however hard that is to swallow. 0 Quote Link to post Share on other sites More sharing options...
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