The Rangers soap opera goes on and on.

[Paolo]

Yes. He is. Either way, one of them will take up their 'right'

[jamboz]

It's the usual level of DR churnalism. They write what their demongraphic want to hear, not what the actual state of play is etc.

 

FTFY

[Zico]

 

 

A put option is a contract to sell at a given price and date, surely a call option for Ashley if he's hoping the price will rise?

He's selling the put, hoping the price will rise above strike.

[Horatio Caine]

Ooh... I wonder what `action` the fans have in mind?

[2NaFish]

If only the fans had bought the club when it was available for a song rather than congratulating the series of white knights/conmen who bought the club they would be in the position where they have **** all control and lots of complaints. But they didnt.

[Footballfirst]

More comedy gold from UoF with another statement calling for Easdale's removal.

 

Easdale already had personal and proxy voting rights of over 25% before the share offer. Indeed his voting rights actually fell from 26.42% to 26.15% following the offer, so it is not a newly acquired position as implied by UOF.

[Hagar the Horrible]

 

 

 

Easdale already had personal and proxy voting rights of over 25% before the share offer. Indeed his voting rights actually fell from 26.42% to 26.15% following the offer, so it is not a newly acquired position as implied by UOF.

That's it this wig merely took up the offer to maintain his share equity! what is not certain is was in fresh investment or did he convert part of his loan into shares? this matters because either they still owe him ?500k or if he converted it then they raised less. if its the former he might still grant some grace or forgiveness over it. But it looks certain the Letham loan still has not been paid back, so one can only assume they still need the working capital more than the car park and the side hoose?

 

If the accounts are delayed then the agm is delayed then the money must run out before any fresh investment can see them to the end of the season?????

[Rods]

Monday will be a big indicator of the fans will so to speak.

[Hagar the Horrible]

not many walk ups sold, and the club deck closed, which was open for our game, I recon no more than 31k will be the official attendance, take away hibs fans that leaves about 7k of walk ups. by their own admission it takes 32k just to pay for the cost of the game. they are going to start to lose money putting on games at this rate and with an already depleting bank balance, the fans have a starve them out policy which is good but they need a plan of what to do next? sugar daddy issues aside it their club they need to claim it back. but they wont

[maroonlegions]

Every time there is a chance of them not having enough finances to see them out season ect, they somehow manage to scrape through, frustrating and never ending it appears. lol.

[indianajones]

Every time there is a chance of them not having enough finances to see them out season ect, they somehow manage to scrape through, frustrating and never ending it appears. lol.

 

How it feels to be a Hibs fan! Although we have the merit of saving our club.

[maroonlegions]

How it feels to be a Hibs fan! Although we have the merit of saving our club.

 

True, mind you the never ending torcher being felt by the newco fans of constantly being paranoid as feck about when and if their club goes t*** up is pleasing. lol.

Edited September 26, 2014 by maroonlegions

[indianajones]

True, mind you the never ending torcher being felt by the newco fans of constantly being paranoid as feck about when and if their club goes t*** up is pleasing. lol.

 

Yeah its amazing. It should definitely happen as well.

 

An early Christmas present perhaps!

[MR INCREDIBLE]

True, mind you the never ending torcher being felt by the newco fans of constantly being paranoid as feck about when and if their club goes t*** up is pleasing. lol.

Remember their club did go t*** up it is now a different club.

[Turkishcap]

Getting to stage now where I think they will just meander on and somehow get by.

[maroonlegions]

Remember their club did go t*** up it is now a different club.

 

Old Rangers were liquidated were they not, to me thats a t*** up and now it could be t*** up again.lol.

[maroonlegions]

Yeah its amazing. It should definitely happen as well.

 

An early Christmas present perhaps!

 

ha ha, hopefully.

[Boof]

Chancery Court, eh?

 

Seems an appropriate place for ol' Whytey.

[Diadora Van Basten]

Remember Ticketus getting shafted by Whyte before Rfc went into liquidation ?..

 

There at Chancery Court for an Interim Hearing on Monday. Ticketus v Whyte

 

I have always thought their was more to come from Ticketus.

 

To give an unsecured 20 million loan to a company like Rangers/whyte seems bizarre.

 

They also seemed to accept there loss too quietly.

Edited September 27, 2014 by Sandi

[The Gasman]

Remember Ticketus getting shafted by Whyte before Rfc went into liquidation ?..

 

There at Chancery Court for an Interim Hearing on Monday. Ticketus v Whyte

 

 

Is this likely to resolve any of the question marks over ownership of the assets (Ibrox, Murray Park, etc) or is it completely separate from that..?

[Footballfirst]

Is this likely to resolve any of the question marks over ownership of the assets (Ibrox, Murray Park, etc) or is it completely separate from that..?

 

The ownership of assets won't be settled until such time as Worthington PLC (who bought out Craig Whyte's interest via Law Capital) decide whether or not to take action against RIFC/TRFC.

 

Ticketus' claim is a straight action against Whyte and co. for deception re the purchase of future ST sales.

Edited September 27, 2014 by Footballfirst

[The Gasman]

 

The ownership of assets won't be settled until such time as Worthington PLC (who bought out Craig Whyte's interest via Law Capital) decide whether or not to take action against RIFC/TRFC.

 

Ticketus' claim is a straight action against Whyte and co. for deception re the purchase of future ST sales.

 

Thanks FF, I couldn't remember if they had claimed they had some sort of security over the assets from their initial deal.

[Footballfirst]

Thanks FF, I couldn't remember if they had claimed they had some sort of security over the assets from their initial deal.

 

Under English law they would have retained the rights over the sold seats, however Scots law didn't provide them with that protection. I don't know if that was an oversight on the part of Ticketus or their due diligence or legal advice was wrong.

[Biffa Bacon]

 

 

 

Under English law they would have retained the rights over the sold seats, however Scots law didn't provide them with that protection. I don't know if that was an oversight on the part of Ticketus or their due diligence or legal advice was wrong.

Any contract will specify the applicable law, it would be extremely unlikely to be silent on such a matter. Contracts are reviewed by lawyers, who are familiar with specified laws, prior to signing. E.g. This contract will be covered by the laws of ENGLAND.

[Australis]

Mike Ashley invests 43 million in Tesco instead of Sevco.

http://www.independent.co.uk/news/business/news/small-investors-and-mike-ashley-rush-to-buy-bargain-shares-in-tesco-9756817.html

[Footballfirst]

Any contract will specify the applicable law, it would be extremely unlikely to be silent on such a matter. Contracts are reviewed by lawyers, who are familiar with specified laws, prior to signing. E.g. This contract will be covered by the laws of ENGLAND.

 

I'm pretty certain that this fell under the jurisdiction of Scots law. Remember that this deal was the one by which Whyte bought the club from David Murray in May 2011, not the Sevco 5088 / Sevco Scotland asset purchase in June 2012. I seem to recall that D&P had it confirmed at the Court of Session that Ticketus had no rights to the seats if the contract was broken in the early days of administration.

 

I'll try and dig out any documents that referenced the contract.

 

Edit: Found it.

 

It was an opinion provided to D&P on 23/03/12 by Lord Hodge

https://www.scotcourts.gov.uk/search-judgments/judgment?id=366a86a6-8980-69d2-b500-ff0000d74aa7

Edited September 27, 2014 by Footballfirst

[Biffa Bacon]

 

 

 

I'm pretty certain that this fell under the jurisdiction of Scots law. Remember that this deal was the one by which Whyte bought the club from David Murray in May 2011, not the Sevco 5088 / Sevco Scotland asset purchase in June 2012. I seem to recall that D&P had it confirmed at the Court of Session that Ticketus had no rights to the seats if the contract was broken in the early days of administration.

 

I'll try and dig out any documents that referenced the contract.

I wasn't suggesting one law over the other, just saying that there should be no ambiguity in which one applies, as it will be stated in the signed contract FF.

[Samster]

Every time there is a chance of them not having enough finances to see them out season ect, they somehow manage to scrape through, frustrating and never ending it appears. lol.

 

That's how it seems to me too a lot of the time but they can't possibly go on inventing new ways to raise money. They have to exhaust all avenues at some point. I could be wrong but to stop this seemingly endless cycle they one of two things to happen.

 

1. The good old white knight with a bottomless pit of cash

 

or more realistically

 

2. Take their damn medicine, have an admin event and shed the high earners and onerous contracts, then start again

[maroonlegions]

That's how it seems to me too a lot of the time but they can't possibly go on inventing new ways to raise money. They have to exhaust all avenues at some point. I could be wrong but to stop this seemingly endless cycle they one of two things to happen.

 

1. The good old white knight with a bottomless pit of cash

 

or more realistically

 

2. Take their damn medicine, have an admin event and shed the high earners and onerous contracts, then start again

 

Seems to me that to achieve number two of your above points they need to seriously get rid of that billy big b**** stubbornness and their perception of that we are too big to take any medicine.

[andy65]

The bigot sisters need a long reality check and the longer this TRFC are down the more real the reality check gets. We simply must win the championship, keep turning the screw and they (TRFC) may yet implode. For once I sincerely hope the Hobos get a result and start pushing too, that way it just adds pressure to TRFC. I despise TRFC and all they stand for, more than any other SPFL club, both now and in their previous incarnation.

 

having said that they will prob stumble thru the season, but the more challengers against them the tougher it will be.

[Floyd]

 

 

Seems to me that to achieve number two of your above points they need to seriously get rid of that billy big b**** stubbornness and their perception of that we are too big to take any medicine.

 

The vast majority of Rangers fans that I know are reluctant to go into admin again, but realise it's a necessary evil to clear out the current regime.

 

The main problem for them just now is, the only way to try and achieve this is to completely boycott games and a number of them wrestled with their conscience about season ticket renewals, before deciding not to renew, so a boycott will be even harder for them.

 

Although from speaking to a large number of them, it's looking like a very realistic proposal.

[The Gasman]

 

The vast majority of Rangers fans that I know are reluctant to go into admin again, but realise it's a necessary evil to clear out the current regime.

 

The main problem for them just now is, the only way to try and achieve this is to completely boycott games and a number of them wrestled with their conscience about season ticket renewals, before deciding not to renew, so a boycott will be even harder for them.

 

Although from speaking to a large number of them, it's looking like a very realistic proposal.

 

Their big problem is that, as things stand right now, another administration event will almost certainly mean RIFC (the holding company) taking full ownership of Ibrox and Murray Park in lieu of monies owed.

 

That leaves the fans (and any white knight they can find) with 3angers FC, with no assets, probably very few players, playing in the Championship with -25 points, and quite possibly tied into financially crippling long term contracts for the continued use of ?1brokes and Murray Park.

Edited September 28, 2014 by The Gasman

[Alva-Jambo]

Their big problem is that, as things stand right now, another administration event will almost certainly mean RIFC (the holding company) taking full ownership of Ibrox and Murray Park in lieu of monies owed.

 

That leaves the fans (and any white knight they can find) with 3angers FC, with no assets, probably very few players, playing in the Championship with -25 points, and quite possibly tied into financially crippling long term contracts for the continued use of ?1brokes and Murray Park.

- sounds good!

[Alva-Jambo]

Ashley's ? 43 million bet on TESCO shows typical spivvy gambling instincts, he was stupid to consider Rangers, now he wants a chunk of Tesco.. which is going to be a basket case in the medium term too.

Edited September 28, 2014 by Alva-Jambo

[Hagar the Horrible]

Ranger share price went up today? but the 31k at the game will only just about cover the cost of putting that game on

[Don Dan]

. "Anybody got me a taxi?"

[Brandt]

LM is called JIG. what does it stand for?

[DETTY29]

I'm not getting too carried away just yet.

 

And there is still the play offs and potential league reconstruction but just imagine where Rangers could have been just now if they had had a bulk standard administration / liquidation the same as anyone else?

 

They were always going to be liquidated. It's HMRC rules. So if the authorities had made it clear to anyone buying the club that they would have to apply for a league membership for the lowest tier of Scottish football, they might just have a normal football club.

 

All assets bar Ibrox sold off. Correct standard of player and management team to see them through the leagues and building for the future and getting priorities correct.

 

Got to say the brand new screens looked lovely.

[Don Dan]

 

 

 

 

The sevco boards are a hoot tonight. No one does a seethe with industrial language like they do ..

 

You'd get punted from here if you used half the expletives they do.

[FWJ]

 

The sevco boards are a hoot tonight. No one does a seethe with industrial language like they do ..

 

When it comes to the cussin' they certainly are the people.

[Footballfirst]

LM is called JIG. what does it stand for?

 

A google search came up with this.

 

 

Why is Lee mcculloch nicknamed jig?

 

 

 

Lee McCulloch has been known as "Jig" since his Motherwell days because of a so-called propensity for going to pieces in the box.

[Don Dan]

http://forum.rangersmedia.co.uk/index.php?showtopic=274203&st=520

 

Seething and bigoted to a man.

[The Future's Maroon]

Its great reading....gits wont let me register to noise them up either!

[Back to 2005]

 

 

A google search came up with this.

 

 

Why is Lee mcculloch nicknamed jig?

 

 

 

Lee McCulloch has been known as "Jig" since his Motherwell days because of a so-called propensity for going to pieces in the box.

You wouldn't get words like propensity on the Rangers forum!

[Guest Bilel Mohsni]

http://forum.rangersmedia.co.uk/index.php?showtopic=274203&st=520

 

Seething and bigoted to a man.

 

Deranged.

[DETTY29]

From tomorrow's Telegraph.

 

edit - didn't notice farin's pot above.

 

http://www.telegraph...p-recovers.html

 

 

 

Rangers could face more expensive litigation now that the Worthington Group, the investment company which announced to the Stock Exchange last year that it was staking a legal claim to ownership of the business and assets of the club, has made a remarkable recovery.

In April 2013 the group revealed that it would be pursuing the holding company, Rangers International Football Club, through the courts, insisting that Sevco 5088, the company formed by the discredited former Rangers owner Craig Whyte, had been awarded the sole rights to buy the club by the administrators Duff and Phelps.

Instead, it was Sevco Scotland, fronted by the equally controversial Charles Green, which ended up in charge, with the former Rangers chief executive publicly admitting last year that he had lied to Whyte to gain control of the new club in the summer of 2012.

As a result, the Worthington Group reported Green to the Serious Fraud Office. But its legal action appeared to have been abandoned when the Financial Conduct Authority suspended trading in its shares ? then worth just 4p ? at the Worthington Group?s request on Aug 1, 2013.

However, since that ban was lifted four weeks ago, its share price has soared to ?198.50 and yesterday it announced the acquisition of assorted digital media investments.

With the improvement in the company?s financial health, it is now in a position to progress the challenge regarding its right to own the Championship challengers.

That began last year when the Worthington Group bought a 26 per cent holding in Law Financial Holding Ltd, a company belonging to Whyte who, in turn, is believed to own a 7.54 per cent stake in Worthington. Sevco 5088 is one of the subsidiary companies owned by Law Financial.

With a current market value of around ?25?million, Worthington is worth around ?10?million more than Rangers, who are struggling to raise the money to pay their bills.

The Worthington Group did not return calls on Monday, but appear as if they are not walking away.

Edited September 29, 2014 by DETTY29

[Guest oldcastlerock2012]

I wonder if they see the league slipping away if they'll take their chances with Admin II and take the 25 point penalty.

[Hearts007]

 

I wonder if they see the league slipping away if they'll take their chances with Admin II and take the 25 point penalty.

doubt they will see it as slipping away

[Rods]

 

From tomorrow's Telegraph.

 

edit - didn't notice farin's pot above.

 

http://www.telegraph...p-recovers.html

 

 

 

Rangers could face more expensive litigation now that the Worthington Group, the investment company which announced to the Stock Exchange last year that it was staking a legal claim to ownership of the business and assets of the club, has made a remarkable recovery.

In April 2013 the group revealed that it would be pursuing the holding company, Rangers International Football Club, through the courts, insisting that Sevco 5088, the company formed by the discredited former Rangers owner Craig Whyte, had been awarded the sole rights to buy the club by the administrators Duff and Phelps.

Instead, it was Sevco Scotland, fronted by the equally controversial Charles Green, which ended up in charge, with the former Rangers chief executive publicly admitting last year that he had lied to Whyte to gain control of the new club in the summer of 2012.

As a result, the Worthington Group reported Green to the Serious Fraud Office. But its legal action appeared to have been abandoned when the Financial Conduct Authority suspended trading in its shares ? then worth just 4p ? at the Worthington Group?s request on Aug 1, 2013.

However, since that ban was lifted four weeks ago, its share price has soared to ?198.50 and yesterday it announced the acquisition of assorted digital media investments.

With the improvement in the company?s financial health, it is now in a position to progress the challenge regarding its right to own the Championship challengers.

That began last year when the Worthington Group bought a 26 per cent holding in Law Financial Holding Ltd, a company belonging to Whyte who, in turn, is believed to own a 7.54 per cent stake in Worthington. Sevco 5088 is one of the subsidiary companies owned by Law Financial.

With a current market value of around ?25?million, Worthington is worth around ?10?million more than Rangers, who are struggling to raise the money to pay their bills.

The Worthington Group did not return calls on Monday, but appear as if they are not walking away.

 

Wondered when they were going to rear there head again. Somebody remind again did they not say they would get there money back sooner rather than later

[alwaysthereinspirit]

 

 

Mohsni gets the blame for sevco's defeat.

Classy guy that McCoist chappy.