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Scottish Fitba Thread (Part 20) |
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#51 |
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Quote:
the tax thing was with the old company, the club is owned by a new company, so they are unrelated, in that sense, HMRC cant touch the new company or Rangers.
Now, the SFA could say you must pay back ALL debt owed to ALL creditors or no licence, now that would mean the end for Rangers, and its history. It really would then be over. Edit: How can any organisation decide to sell off bits and in doing so put HMRC "out of reach" |
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#52 |
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Quote:
the tax thing was with the old company, the club is owned by a new company, so they are unrelated, in that sense, HMRC cant touch the new company or Rangers.
Now, the SFA could say you must pay back ALL debt owed to ALL creditors or no licence, now that would mean the end for Rangers, and its history. It really would then be over. If Green accepts this then they will receive the OldCo's membership and history. I think the transfer embargo is the more pressing concern for Green just now. |
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#53 |
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So, who decides which of the potential liabilites passes to NewCo (who have a potential income, plus a football ground etc) and which stay with OldCo (who appear to have no ascernable assets)? Presumably D&P arranged the sale of OldCo assets to NewCo, and decided what was in or out.
Edit: How can any organisation decide to sell off bits and in doing so put HMRC "out of reach" Now, how selling off the companies assets (namely the club and properties) to a new company, while leaving the old company with whats left (basically debts) is getting anything in return for the investors is anyone's guess. they could have sold the stadium alone for many times the price they got for all the assets combined, im guessing the decision was about saving jobs. As to what liabilities pass over, legally, no liabilities pass over at all. however the SFA have decided to make Rangers accept liability for all money the previous company owed to scottish clubs in order to get a licence. Effectively they are being blackmailed, not sure how legal it is, or what other sanctions Rangers would face if they went to the courts. But its late in the day, the season kicks off shortly, it would be a total nightmare if rangers went to court over this, the whole season could be delayed for everyone. |
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#54 |
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Join Date: May 2012
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they have already been relegated three divisions, fined 160k, half their team have been allowed to move to other clubs free of charge, now they are to either stop playing football altogether or accept a ban on buying players for a year, ohh, and there are hoards of foaming at the mouth opposition hoping to have their previous wins stripped away into their own trophy cabinets.
a tad harsh dont you think? I think some people need to step back, calm down and look at this calmly and with some sort of objectivity. Looks like a which hunt to me, nothing more, nothing less. |
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#55 |
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You said it mate. These people have more hatred for Rangers than love for their own clubs, yet they try to tar Rangers as "Scotland's shame". What a sad little world they live in
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#56 |
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Quote:
If they want to keep the history.....
Neil Doncaster live on Sportsound, confirms EBT investigation is continuing and has to be completed. |
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#57 |
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Administrators were appointed to oversee the companies financial going on, supposedly this is supposed to protect its investors and creditors.
Now, how selling off the companies assets (namely the club and properties) to a new company, while leaving the old company with whats left (basically debts) is getting anything in return for the investors is anyone's guess. they could have sold the stadium alone for many times the price they got for all the assets combined, im guessing the decision was about saving jobs. As to what liabilities pass over, legally, no liabilities pass over at all. however the SFA have decided to make Rangers accept liability for all money the previous company owed to scottish clubs in order to get a licence. Effectively they are being blackmailed, not sure how legal it is, or what other sanctions Rangers would face if they went to the courts. But its late in the day, the season kicks off shortly, it would be a total nightmare if rangers went to court over this, the whole season could be delayed for everyone. Either it keeps the history and sanctions that go with it or Green starts a new club and takes it from there - debt free and no sanctions (or players) |
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#58 |
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The History remains, theprevious trading co will be liquidated and all assets moved to new trading co." Newco" if its too much for you to understand. The football club remains
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#59 |
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If the situation was reversed, do you not think that Rangers fans would behave in the same way if it was Celtic? Off course they would, and I wouldn't expect them not to.
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#60 |
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The History remains, theprevious trading co will be liquidated and all assets moved to new trading co." Newco" if its too much for you to understand. The football club remains
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#61 |
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If all assets transferred why have they to apply as a seperate entity to the SPL?
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#62 |
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It was to transfer the share which can only be done with SPL approval which they never got.
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#63 |
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Transfer from who to who, if it's the same club?
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#64 |
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Rangers can't go to court though.
Either it keeps the history and sanctions that go with it or Green starts a new club and takes it from there - debt free and no sanctions (or players) I "think" Rangers took opposed the transfer ban, and i thought a court ruled the SFA to look at the punishment again, i though Rangers had a choice of accepting the ban, or demanding another pinishment. As i said, not 100% on it though. |
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#65 |
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STV understands that Sevco Scotland have no option but to accept the 12 month transfer embargo or they will not be able to transfer membership.
They also can't apply for new membership as they don't meet the criteria. |
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#66 |
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The one that was ruled illegal?? Sporting integrity my arse ...
In effect it's the SFA's way of keeping FIFA off it's back. |
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#67 |
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i think it can go to court though, I'm not 100% on it though.
I "think" Rangers took opposed the transfer ban, and i thought a court ruled the SFA to look at the punishment again, i though Rangers had a choice of accepting the ban, or demanding another pinishment. As i said, not 100% on it though. So Green can either accept it or not. BTW the embargo will still allow SevCo Scotland to sign under 18 players - give the conveyer belt a chance to flourish in Div.3 |
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#68 |
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It can't go to court as it appears to be a condition of the SFA membership transfer.
Ah well. |
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#69 |
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It's not illegal as it's now a condition of the transfer of membership.
In effect it's the SFA's way of keeping FIFA off it's back. |
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#70 |
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SFA Statement:
“Scottish football’s recovery process begins today. The Board of the Scottish FA endorses the decisions made by the respective members of the Scottish Premier League and Scottish Football League to accommodate Rangers FC Newco into the Irn Bru Division Three.. “The Scottish FA Board are also wholly committed to Stewart Regan driving this process forward. Since being appointed Chief Executive, he has led us through an unprecedented modernisation of the Scottish FA.. “He has our full support to continue the excellent work undertaken so far in accomplishing the key objectives of our strategic plan, Scotland United: A 2020 Vision. This will remain the Board’s priority as we move forward.. “The new season begins in less than two weeks and it is incumbent on the Scottish FA to conclude all outstanding issues relating to Rangers FC. To that end, we aim to meet with the club this week with the intention of achieving a satisfactory outcome for all parties so that we can focus on football in time for the new campaign.” One thing I do think is hypocritical of the SFA with the membership issue is that on the one hand it wants Green to accept the outcome of the SPL Dual Contracts investigation, yet the man who was Company Secretary during the investigation period is still in his job as SFA President. |
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#71 |
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So the SFA are now making it up as they go along to punish Rangers - who would have funk that eh??
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#72 |
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Seems that the SFA think Regan is doing a grand job as this has just appeared today ... Quote:
Statement from Scottish FA Board Words fail me ... this has to be one of the sickest jokes ever.“Scottish football’s recovery process begins today. The Board of the Scottish FA endorses the decisions made by the respective members of the Scottish Premier League and Scottish Football League to accommodate Rangers FC Newco into the Irn Bru Division Three. “The Scottish FA Board are also wholly committed to Stewart Regan driving this process forward. Since being appointed Chief Executive, he has led us through an unprecedented modernisation of the Scottish FA. “He has our full support to continue the excellent work undertaken so far in accomplishing the key objectives of our strategic plan, Scotland United: A 2020 Vision. This will remain the Board’s priority as we move forward.
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#73 |
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Ah, just like the debts arent legally payable, but the SFA are making it a condition of getting a licence.
Ah well. If this is what has happened, is it legal? In my opinion it didn't ought to be. |
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#74 |
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It's one thing for the SFA to put conditions on a NewCo, as that is a contractual relationship between two parties. What I cannot comprehend is the idea that D&P can sell off some of OldCo's assets at a knock down price (if that is what they did) to put them out of reach of OldCo's known creditors, and potential creditors (inc HMRC).
If this is what has happened, is it legal? In my opinion it didn't ought to be. |
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#75 |
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Seems that the SFA think Regan is doing a grand job as this has just appeared today ...
Words fail me ... this has to be one of the sickest jokes ever. ![]() |
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