Rangers FC lodge papers to go into administration

Blatter

Just heard that Rangers have been given until 3.30pm today to appoint their own administrators or else the court will make the appointment, hardly enough time is it?

bobbysands81

Tweet from BBC that Timmy was reporting a few months ago...

Douglas Fraser @BBCDouglsFraser

I'm told this is not just about the back tax to 2001. It's more to do with unpaid tax since last May when Craig Whyte took over

Pompey Magnus

bobbysands81 wrote: »

Tweet from BBC that Timmy was reporting a few months ago...

Douglas Fraser @BBCDouglsFraser

I'm told this is not just about the back tax to 2001. It's more to do with unpaid tax since last May when Craig Whyte took over

So for all the condemnation of Murray and support of Whyte it will actually be Whyte's actions which will see an Administrator move in. Can someone explain how this guy still has defenders?

bobbysands81

Pompey Magnus wrote: »

So HMRC's action relates to PAYE and National Insurance bill it seems, am I right in saying this is from Craig Whyte's period in charge or have I misheard?

Correct.

Bang goes the theory that the entire mess was David Murray's.

Dempsey

Blatter wrote: »

Just heard that Rangers have been given until 3.30pm today to appoint their own administrators or else the court will make the appointment, hardly enough time is it?

Craig Whyte has wound up alot of companies! He has administrators on speed dial.

Jelle1880

Dempsey wrote: »

Craig Whyte has wound up alot of companies! He has administrators on speed dial.

Actually he does, Duff and Phelps I've heard who were already with him when he took over.

bobbysands81

Pompey Magnus wrote: »

So for all the condemnation of Murray and support of Whyte it will actually be Whyte's actions which will see an Administrator move in. Can someone explain how this guy still has defenders?

Quite simple really... because Timmy was tellin' 'em the they refused to believe.

It's taken a while for the penny (arcade) to drop but at last it is.

The irony is Rangers really are Royally f**ked.

bobbysands81

Seemingly unbelievable stuff going on in court where there's actually a race between the owner of Rangers and HMRC to see who can put them into Administration.

Surreal stuff and not a nice time to be a Rangers fan.

Dempsey

Unless HMRC have a 2nd ace up their sleeve, Whyte will beat them to the appointment of Administrators imo

bobbysands81

Dempsey wrote: »

Unless HMRC have a 2nd ace up their sleeve, Whyte will beat them to the appointment of Administrators imo

No idea if this is true but...

"according to the insolvency act of 86 once an intent is lodged with the court a company cannot go into administration untill the period has expired which is 5 days."

Teh Huddleborad has two fellas in court giving up to the second info, I'm trying to catch up on the thread.

bobbysands81

Dempsey wrote: »

Unless HMRC have a 2nd ace up their sleeve, Whyte will beat them to the appointment of Administrators imo

Looks like HMRC have agreed to Whyte appointing administrators:


From inside the court -

Agreement reached. [Rangers] to appoint before half three with consent of Hmrc. If not done by then Hmrc will put in their guy. Duff and phelps for the [Rangers]

bobbysands81

Cara Sulieman @carasulieman

HMRC initially objected to Duff & Phelps - said there were concerns of "public perception" if they were appointed.

fionnsda

Jelle1880

fionnsda wrote: »

Not that soon, I know this is a small victory for Rangers but let's not get carried away :cool:

fionnsda

was thinking of ice cream and jelly sort of party!:D

bobbysands81

Jelle1880 wrote: »

Not that soon, I know this is a small victory for Rangers but let's not get carried away :cool:

So you think that getting to appoint your own ADMINISTRATORS is a small victory for Rangers?!

Brilliant!

By the way... if I was you guys I'd actually want HMRC's administrators because all Whyte is going to be interested in is Whyte, not the future of Rangers FC.

Jelle1880

bobbysands81 wrote: »

So you think that getting to appoint your own ADMINISTRATORS is a small victory for Rangers?!

Brilliant!

By the way... if I was you guys I'd actually want HMRC's administrators because all Whyte is going to be interested in is Whyte, not the future of Rangers FC.

You don't do humor, do you ?

Administration was always going to happen, the fact we can appoint our own is better than having to appoint HMRC's.

KeithAFC

Best out come if it happens. Who cares about a points deduction.

_blank_

KeithAFC wrote: »

Best out come if it happens. Who cares about a points deduction.

Exactly, Rangers will still come second in the league.

The points deduction means nothing, absolutely nothing.

Dempsey

I think Rangers FC would have been better off with Lord Menzies appointing the administrator. Make no mistake about it, Duff & Phelps are there to serve Whyte's interests first and foremost, not Rangers FC.

joseph brand

http://www.dailyrecord.co.uk/football/spl/2012/02/14/graeme-souness-i-fear-rangers-fc-will-cease-to-exist-in-their-current-form-86908-23748599/

They owe £75 million? Yikes.

So what's gonna happen? They will have to sell their best players, get deducted 10 points and change their name?

Dempsey

Des wrote: »

Exactly, Rangers will still come second in the league.

The points deduction means nothing, absolutely nothing.

It means there are deducted 10 points :rolleyes:

It becomes easier for Motherwell & Hearts to catch them if some players are offloaded.

KeithAFC

Des wrote: »

Exactly, Rangers will still come second in the league.

The points deduction means nothing, absolutely nothing.

All it does is end the title race this early ha. Sky will not be happy.

KeithAFC

Dempsey wrote: »

It means there are deducted 10 points :rolleyes:

It becomes easier for Motherwell & Hearts to catch them if some players are offloaded.

So what. If the club survives, Rangers will just catch up with them quickly anyway.

fionnsda

Douglas Fraser @BBCDouglsFraser Reply Retweet Favorite · Open
I hear from a lawyer working in the Court of Session building that Duff and Phelps have now been appointed administrators of #Rangers FC.

Thrill

Sky News Newsdesk @SkyNewsBreak

• Reply
• Retweet
• Favorite
• · Open

Rangers Football Club confirms it has appointed administrators Duff & Phelps

Beefy78

Dempsey wrote: »

It means there are deducted 10 points :rolleyes:

It becomes easier for Motherwell & Hearts to catch them if some players are offloaded.

They can't offload players outside of the transfer window and the players can't be made redundant as their contracts are protected.

StephenHendry

KeithAFC wrote: »

All it does is end the title race this early ha. Sky will not be happy.

exactly the title race is effectively. with a ten point deduction, it will be give motherwell and hearts a chance for 2nd. hearts are having their own financial difficulties as well.

Dempsey

Beefy78 wrote: »

They can't offload players outside of the transfer window and the players can't be made redundant as their contracts are protected.

When in administration, you can get special permission to sell players outside the transfer window

Thrill

That 10 points deduction, Is that every year or just the initial year?