...a bit disco Posted September 5, 2014 Share Posted September 5, 2014 Appeal decision to come on Tuesday. Link to comment Share on other sites More sharing options...
Brandt Posted September 5, 2014 Share Posted September 5, 2014 I know i only asked about 10 mins ago but will this not cost Rangers in court fees? With an appeal adding more expense to them If so, any ballpark figure? Link to comment Share on other sites More sharing options...
Footballfirst Posted September 5, 2014 Share Posted September 5, 2014 A wee bit digging by our intrepid JKB detectives should uncover what this is. It might be that there was no contingency put in place for Ahmad's claim. Link to comment Share on other sites More sharing options...
Sooperstar Posted September 5, 2014 Share Posted September 5, 2014 If an appeal is granted they can draw the cash before anything decided, clearly their plan B. Stalling tactics. Really? That seems crazy to me, although I can see the other side of the argument too. Link to comment Share on other sites More sharing options...
2NaFish Posted September 5, 2014 Share Posted September 5, 2014 Remind me, didnt Ahmed go on one of the rangers forums and spread a little honesty at some point. Anyone remember what this wonderful, beautiful and hard done by individual was saying? Link to comment Share on other sites More sharing options...
davieholt Posted September 5, 2014 Share Posted September 5, 2014 The fact that Ahmed has had this decided in his favour will make the share issue even less likely to succeed now surely? Who would buy more equity in a club which has liabilities immediately due of up to ?2.1m when the the shares would only bring in 3.5m or so? Link to comment Share on other sites More sharing options...
Footballfirst Posted September 5, 2014 Share Posted September 5, 2014 (edited) The interesting thing for me about what was revealed is the cash in the bank figure of ?1.2M. Has the ST money been spent? What about the statement in the Share offer. "The Company had an unaudited cash balance of ?4.26 million as at 30 June 2014. Included in this unaudited cash balance is ?2.72 million relating to Rangers Retail Limited, which is not immediately available as working capital to the Group as a whole." Has Ashley taken the ?2.72M for his use with regard to him taking over Rangers Retail, or has he divvied up the money with TRFC? Edited September 5, 2014 by Footballfirst Link to comment Share on other sites More sharing options...
Never Let Them Forget Posted September 5, 2014 Share Posted September 5, 2014 Is it money or assets arrested?? Link to comment Share on other sites More sharing options...
Another Robbo Posted September 5, 2014 Share Posted September 5, 2014 Is it money or assets arrested?? money Link to comment Share on other sites More sharing options...
Footballfirst Posted September 5, 2014 Share Posted September 5, 2014 Remind me, didnt Ahmed go on one of the rangers forums and spread a little honesty at some point. Anyone remember what this wonderful, beautiful and hard done by individual was saying? He was known as "I Am Rangers" on the Rangers Media and was willing to put his pro Board (Green & Co) views and snippets of information into the public domain. I think it was one of the reasons he was emptied out. (He was probably willing to go with his pay off in bonuses and 1p shares) Link to comment Share on other sites More sharing options...
Jamboelite Posted September 5, 2014 Share Posted September 5, 2014 Tick tock...... Link to comment Share on other sites More sharing options...
Alva-Jambo Posted September 5, 2014 Share Posted September 5, 2014 Radio Scotland News just said his money had been ring fenced by the Judge. will need to listen to the Sports prog at 6.10. Link to comment Share on other sites More sharing options...
Don Dan Posted September 5, 2014 Share Posted September 5, 2014 The interesting thing for me about what was revealed is the cash in the bank figure of ?1.2M. Has the ST money been spent? What about the statement in the Share offer. "The Company had an unaudited cash balance of ?4.26 million as at 30 June 2014. Included in this unaudited cash balance is ?2.72 million relating to Rangers Retail Limited, which is not immediately available as working capital to the Group as a whole." Has Ashley taken the ?2.72M for his use with regard to him taking over Rangers Retail, or has he divvied up the money with TRFC? Are these statements about cash balances linked to the share offer and could this be seen as misleading potential investors? Even though they are existing share holders. Would the stock market not take a dim view of it and suspend any share trading or issues? Link to comment Share on other sites More sharing options...
Paolo Posted September 5, 2014 Share Posted September 5, 2014 (edited) Radio Scotland News just said his money had been ring fenced by the Judge. will need to listen to the Sports prog at 6.10. I suspect it will be, and it will remain that way, until Rangers win their appeal, at least (if they do). If they do win, I would be interested to know, if there is scope for a further appeal from Ahmed. Edited September 5, 2014 by Claudia Link to comment Share on other sites More sharing options...
Stuart Lyon Posted September 5, 2014 Share Posted September 5, 2014 Will Ahmed's costs be met by Rangers? Link to comment Share on other sites More sharing options...
Independence Posted September 5, 2014 Share Posted September 5, 2014 Rangers QC Alan Summers has asked for leave to appeal saying there has been an "error of law" #bbcsportscot Hardly an " error of law" Its simple arithmetic and Ahmed is entitled to his day in court and if he wins there needs to be money aside to pay him. Yes but they R the People so it must be an error of law. Link to comment Share on other sites More sharing options...
Footballfirst Posted September 5, 2014 Share Posted September 5, 2014 Are these statements about cash balances linked to the share offer and could this be seen as misleading potential investors? Even though they are existing share holders. Would the stock market not take a dim view of it and suspend any share trading or issues? The share offer numbers are from the end of year position (30/06/14) so are only a couple of months out of date. When Hearts launched their share offer in 2012, the financial information provided was from 20 months previous. I think there are enough caveats in the share offer doc that should see them ok legally, e.g. the unable to pay their bills comment. Link to comment Share on other sites More sharing options...
2NaFish Posted September 5, 2014 Share Posted September 5, 2014 He was known as "I Am Rangers" on the Rangers Media and was willing to put his pro Board (Green & Co) views and snippets of information into the public domain. I think it was one of the reasons he was emptied out. (He was probably willing to go with his pay off in bonuses and 1p shares) So his big mouth and online presence has precipitated, fingers crossed, rangers' demise? Lovely. I hardly ever bring scottish footballing institutions to their knees with my posts on JKB. He's some guy. Link to comment Share on other sites More sharing options...
Another Robbo Posted September 5, 2014 Share Posted September 5, 2014 Will Ahmed's costs be met by Rangers? they will probably form part of the expenses of the whole case. In that event expenses would follow success I.e. Go to the winner. Link to comment Share on other sites More sharing options...
leginten Posted September 5, 2014 Share Posted September 5, 2014 Will Ahmed's costs be met by Rangers? ?120,000 of the ?620,000 is for legal costs. Link to comment Share on other sites More sharing options...
Another Robbo Posted September 5, 2014 Share Posted September 5, 2014 ?120,000 of the ?620,000 is for legal costs. Only if he wins the whole case surely. Link to comment Share on other sites More sharing options...
Paolo Posted September 5, 2014 Share Posted September 5, 2014 they will probably form part of the expenses of the whole case. In that event expenses would follow success I.e. Go to the winner. That is not always the case. There has been times the winner has had to foot their own legal costs, making them worse off. Link to comment Share on other sites More sharing options...
Deevers Posted September 5, 2014 Share Posted September 5, 2014 No doubt other creditors will be piling in looking for their money now. The wheel is well and truely off the cart! Link to comment Share on other sites More sharing options...
Alva-Jambo Posted September 5, 2014 Share Posted September 5, 2014 Odds are he will win now, and get his legal costs . Link to comment Share on other sites More sharing options...
Dean Winchester Posted September 5, 2014 Share Posted September 5, 2014 (edited) http://www.bbc.co.uk...otland-29087653 After making the arrestment order, judge Lord Stewart said he had a great deal of sympathy with Rangers fans. He said: "This does not mean the club will be insolvent." So for someone who hasn't been following this very closely... When is it likely they will end up becoming insolvent? I assume they have loans due shortly? Edited September 5, 2014 by Dean Winchester Link to comment Share on other sites More sharing options...
Jamboelite Posted September 5, 2014 Share Posted September 5, 2014 Odds are he will win now, and get his legal costs . Nope that case hasnt been heard this case has nothing to do with his claim. Link to comment Share on other sites More sharing options...
Don Dan Posted September 5, 2014 Share Posted September 5, 2014 The share offer numbers are from the end of year position (30/06/14) so are only a couple of months out of date. When Hearts launched their share offer in 2012, the financial information provided was from 20 months previous. I think there are enough caveats in the share offer doc that should see them ok legally, e.g. the unable to pay their bills comment. Got you, thanks FF. Link to comment Share on other sites More sharing options...
Jambof3tornado Posted September 5, 2014 Share Posted September 5, 2014 Nope that case hasnt been heard this case has nothing to do with his claim. I thought thats exactly what this case was about? Link to comment Share on other sites More sharing options...
Alva-Jambo Posted September 5, 2014 Share Posted September 5, 2014 On Radio 4 just now.. The Trial Judge said Rangers have ?1.2 million in the Bank, and ring fencing the 620K would not mean Rangers would go into administration therefore he aceeded to the request. So now Rangers can only call on under 600K plus any other income stream. Its very tight. Link to comment Share on other sites More sharing options...
Back to 2005 Posted September 5, 2014 Share Posted September 5, 2014 How much would rangers monthly wage bill be? Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted September 5, 2014 Share Posted September 5, 2014 I'm almost on countdown mode for one of them to claim that Imran Ahmed is all part of a kafflik conspiracy to bring them down. Imran is Gaelic for Sean I would guess. Or at least thats what I'll be tweeting tonight. Link to comment Share on other sites More sharing options...
maroonlegions Posted September 5, 2014 Share Posted September 5, 2014 So ?600,000 is ring fenced and effectively out of reach for NEWCO, over half a million pounds doon the toilet, how the feck are they going to survive with the high running costs they have, very worrying times for Newco now. Link to comment Share on other sites More sharing options...
Eldar Hadzimehmedovic Posted September 5, 2014 Share Posted September 5, 2014 On Radio 4 just now.. The Trial Judge said Rangers have ?1.2 million in the Bank, and ring fencing the 620K would not mean Rangers would go into administration therefore he aceeded to the request. So now Rangers can only call on under 600K plus any other income stream. Its very tight. Barely enough to pay McCoist and McCulloch for the rest of the season. Link to comment Share on other sites More sharing options...
...a bit disco Posted September 5, 2014 Share Posted September 5, 2014 http://www.bbc.co.uk...otland-29087653 After making the arrestment order, judge Lord Stewart said he had a great deal of sympathy with Rangers fans. He said: "This does not mean the club will be insolvent." So for someone who hasn't been following this very closely... When is it likely they will end up becoming insolvent? I assume they have loans due shortly? To answer your questions, soon and past due. Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted September 5, 2014 Share Posted September 5, 2014 I love this thread!!! Yessssssssss Should have been shut down months ago according to way to many people on here. Link to comment Share on other sites More sharing options...
Footballfirst Posted September 5, 2014 Share Posted September 5, 2014 How much would rangers monthly wage bill be? I think the last figure I saw was ?7.2M (for the first team alone). That is ?600K a month, before you add in all the management, coaching and office staff. Link to comment Share on other sites More sharing options...
...a bit disco Posted September 5, 2014 Share Posted September 5, 2014 Imran is Gaelic for Sean I would guess. Or at least thats what I'll be tweeting tonight. Moslem Kaffliks eh? Amongst the worst of the worsest. Link to comment Share on other sites More sharing options...
hueyview Posted September 5, 2014 Share Posted September 5, 2014 This thread has become eerily similar to the Bible. Beginning with the Old Testament, Starting with the Genesis of Administration, with the fork tounged serpent in the garden (Guess who), the Exodus of the fans, Judges, and the (season) Books of King. ending with the waiting for the promised Messiah. The New Testament kicks of with the Gospel of Chuckie Green, and his twelve spivs, with their Letters to the SPFA. After being crucified in the papers, he returns miraculously to preach the good news. The spivs, with trousered season ticket money, scatter to all four corners of the directors box. This ends in Revelation, their potless. Link to comment Share on other sites More sharing options...
Back to 2005 Posted September 5, 2014 Share Posted September 5, 2014 I think the last figure I saw was ?7.2M (for the first team alone). That is ?600K a month, before you add in all the management, coaching and office staff. Thanks. Hard to see how they can get past the next pay day then. Link to comment Share on other sites More sharing options...
Footballfirst Posted September 5, 2014 Share Posted September 5, 2014 Rangers statement to AIM RNS Number : 0142R Rangers Int. Football Club PLC 05 September 2014 5 September 2014 Rangers International Football Club plc ("Rangers" the "Club" or the "Company") Statement re. Court Order The Company confirms that the Court of Session in Edinburgh has granted a request by Mr Ahmad for an order allowing him to arrest ?620,000 in a Rangers bank account or the accounts of others who may be due to pay sums to Rangers. He sought this order in connection with a claim against the Rangers Football Club Limited for alleged unpaid bonuses in the amount of ?500,000. The court granted permission to arrest ?620,000 to take account of the sum sued for and Mr Ahmad's legal expenses in connection with his claim. Leave to appeal this decision has been sought by Rangers and the court will deal with that request on Tuesday. This is a provisional procedural measure and the fact that this procedural ruling is in Mr Ahmad's favour it is in not an indication that the court accepts there is any merit in his claim. The court has not yet considered the merits of Mr Ahmad's claim. Mr Ahmad's claim is being robustly defended. The case proceeds to a full hearing on its merits commencing 11 November 2014. If the defence of this claim is successful the funds arrested will be released. Further announcements will be made on this matter in due course. Link to comment Share on other sites More sharing options...
swavkav Posted September 5, 2014 Share Posted September 5, 2014 Should have been shut down months ago according to way to many people on here. can't please everybody. Link to comment Share on other sites More sharing options...
hughesie27 Posted September 5, 2014 Share Posted September 5, 2014 Remember, Rangers are losing circa 700k every month. Tick tock. Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted September 5, 2014 Share Posted September 5, 2014 (edited) It's a good job Alasdair never brought in any more boys in the tail end of the last window. Edited September 5, 2014 by Mothy Link to comment Share on other sites More sharing options...
...a bit disco Posted September 5, 2014 Share Posted September 5, 2014 Funny how all their big announcements and notifications are made either late night or close of weekly business. Link to comment Share on other sites More sharing options...
Alva-Jambo Posted September 5, 2014 Share Posted September 5, 2014 lol! Rangers poe faced comment: Rangers statement to AIM RNS Number : 0142R Rangers Int. Football Club PLC 05 September 2014 5 September 2014 Rangers International Football Club plc ("Rangers" the "Club" or the "Company") Statement re. Court Order The Company confirms that the Court of Session in Edinburgh has granted a request by Mr Ahmad for an order allowing him to arrest ?620,000 in a Rangers bank account or the accounts of others who may be due to pay sums to Rangers. He sought this order in connection with a claim against the Rangers Football Club Limited for alleged unpaid bonuses in the amount of ?500,000. The court granted permission to arrest ?620,000 to take account of the sum sued for and Mr Ahmad's legal expenses in connection with his claim. Leave to appeal this decision has been sought by Rangers and the court will deal with that request on Tuesday. This is a provisional procedural measure and the fact that this procedural ruling is in Mr Ahmad's favour it is in not an indication that the court accepts there is any merit in his claim. The court has not yet considered the merits of Mr Ahmad's claim. Mr Ahmad's claim is being robustly defended. The case proceeds to a full hearing on its merits commencing 11 November 2014. If the defence of this claim is successful the funds arrested will be released. Further announcements will be made on this matter in due course. LOL notice they sound as if they had equal legal jurisdiction as the court does. They have no such right. Sevco goodnight. Link to comment Share on other sites More sharing options...
Mr Sifter Posted September 5, 2014 Share Posted September 5, 2014 Rangers statement to AIM RNS Number : 0142R Rangers Int. Football Club PLC 05 September 2014 5 September 2014 Rangers International Football Club plc ("Rangers" the "Club" or the "Company") Statement re. Court Order The Company confirms that the Court of Session in Edinburgh has granted a request by Mr Ahmad for an order allowing him to arrest ?620,000 in a Rangers bank account or the accounts of others who may be due to pay sums to Rangers. He sought this order in connection with a claim against the Rangers Football Club Limited for alleged unpaid bonuses in the amount of ?500,000. The court granted permission to arrest ?620,000 to take account of the sum sued for and Mr Ahmad's legal expenses in connection with his claim. Leave to appeal this decision has been sought by Rangers and the court will deal with that request on Tuesday. This is a provisional procedural measure and the fact that this procedural ruling is in Mr Ahmad's favour it is in not an indication that the court accepts there is any merit in his claim. The court has not yet considered the merits of Mr Ahmad's claim. Mr Ahmad's claim is being robustly defended. The case proceeds to a full hearing on its merits commencing 11 November 2014. If the defence of this claim is successful the funds arrested will be released. Further announcements will be made on this matter in due course. Rangers can claim to robustly defend this case all they want...but doesn't the handwritten letter from Chuck Green blow any defence out of the water? I'm thinkin it's a gimme that Imran will win naw? Link to comment Share on other sites More sharing options...
The Mighty Thor Posted September 5, 2014 Share Posted September 5, 2014 Go away for a few days and the wheels come right off the bogey. Never mind they've got a decent payday from tomorrows game.... Link to comment Share on other sites More sharing options...
livingstonjambo Posted September 5, 2014 Share Posted September 5, 2014 Remember, Rangers are losing circa 700k every month. Tick tock. Yep and they only have one home game against Inverness in the League Cup prior to the next payroll day. Cant see all staff being paid this month Link to comment Share on other sites More sharing options...
Don Dan Posted September 5, 2014 Share Posted September 5, 2014 (edited) Tom English says King needs to step forward now. Tom he can't as he is a convicted criminal and according to the SPFL it's not allowed. Next week might be a different scenario however when the SPFL rejig the rules. Edited September 5, 2014 by Dannie Boy Link to comment Share on other sites More sharing options...
theshed Posted September 5, 2014 Share Posted September 5, 2014 From reading this the last hour even if this guy lost his case today with just over a million in the bank isn't enough to keep them going is it??? Link to comment Share on other sites More sharing options...
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