The Rangers soap opera goes on and on.

[milky_26]

You can quantify losses as, at a minimum, what you would have earned in first round you might have taken part in, in whatever tournament you were deprived of.

 

By the way, I see lawyers from Arbroath are fighting back on twitter.

got a link to that?

[MacDonald Jardine]

You can quantify losses as, at a minimum, what you would have earned in first round you might have taken part in, in whatever tournament you were deprived of.

 

By the way, I see lawyers from Arbroath are fighting back on twitter.

Yes but who would have qualified in their place? It's all conjecture.

 

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[Footballfirst]

James Doleman? @jamesdoleman 29m29 minutes ago

"Cultural Expression Zones"

Apart from the sensationalist main headline I'm interested in the story about Whyte being in line for a payment  from Rangers.  If anyone has a subscription, could the post the gist of the story once it is available online.

[Big Slim Stylee]

James Doleman? @jamesdoleman 29m29 minutes ago

"Cultural Expression Zones"

Apart from the sensationalist main headline I'm interested in the story about Whyte being in line for a payment  from Rangers.  If anyone has a subscription, could the post the gist of the story once it is available online.

That's so far beyond all that's acceptable:( What is it with these neanderthals?

[luckyBatistuta]

That's so far beyond all that's acceptable:( What is it with these neanderthals?

Don't think they'll ever break the cycle. Their father taught them to hate, whose father taught them to hate, whose father taught them to hate, whose father taught them to hate, whose father taught them to hate, whose father taught them to hate...

[EH11]

FORMER Rangers owner Craig Whyte is in line for a ?5 million payout from the liquidated funds of the company which owned the club while the tax authorities, owed more than ?90m, are not expected to receive a penny.

It comes as it emerged a claim over the whole of the ?15 million pot to be distributed to creditors of the liquidated Rangers oldco is being resurrected.

News of the legal bid came after Whyte was cleared of fraud and financial assistance in the 2011 takeover of the club - the only apparent obstacles in the way of a successful bid.

If the claim is successful it would mean that the taxman, having won the Big Tax Case after a seven year battle to get millions owed from the use of Employee Benefit Trusts (EBTs),could end up getting nothing from the liquidation.

The collapse of the The Rangers Football Club plc, dubbed 'oldco' in 2012 under Whyte's watch left thousands of unsecure creditors out of pocket including more than 6000 loyal fans who bought ?7.7million worth of debenture seats at Ibrox.

Creditors ranged from giants such as Coca-Cola to a picture framer in Bearsden and a lady called Susan Thomson who runs a face-painting business and was owed ?40.

Court documents seen by the Sunday Herald reveal that BDO's rejection of an initial claim now being put forward by Wavetower, the firm used by Whyte to takeover Rangers, was based on the businessman being guilty of fraud and financial assistance.

Those behind the claim believe that with the court case out of the way, BDO and the courts cannot now resist their view that it holds a legitimate claim over the ?15 million as the only secured creditor and first in line ahead of the taxman and other ordinary unsecured debtors.

That is because the firm Whyte used to buy the club inherited a security over assets including Ibrox and Murray Park from Lloyds Banking Group after paying off Rangers? ?18 million debt using future season ticket sales. The clearing of the debt was a condition of Whyte's purchase of the club from Sir David Murray in May 2011.

The security was originally set up in 1999 in favour of the Bank of Scotland, part of the Lloyd Banking Group,  in response to Rangers' ballooning debt figure, and involved securing a charge over its income and assets.

Mr Whyte is no longer a director of Wavetower, and the claim is now controlled by directors associated with Worthington plc, an investment firm, also once connected to the former Rangers owner.

Worthington directors have previously confirmed that it was obliged to pay Mr Whyte ?1 million in unsecured convertible loan notes as a result of gaining rights to legal actions and one third of the proceeds of any claims.

The deal between Worthington and Law Financial, a firm set up by Whyte also included obtaining the book, film and television rights to the two takeovers of The Rangers Football Club in 2011 and 2012.

One source close the claim said: "The recent not guilty verdicts [in relation to the Whyte case] would appear to leave the road open for a successful claim."

Court documents show that BDO had fought the idea that they were secured creditors because "the assignation agreement was part of a fraudulent scheme".

But a judgement by Lord Doherty made last year decided to put off any decision on the rights and wrongs of the claim until after Whyte's fraud trial.

One source close the claim said: "The recent not guilty verdicts [in relation to the Whyte case] would appear to leave the road open for a successful claim."

Court documents show that BDO had fought the idea that they were secured creditors because "the assignation agreement was part of a fraudulent scheme".

But a judgement by Lord Doherty made last year decided to put off any decision on the rights and wrongs of the claim until after Whyte's fraud trial.

Last month a jury cleared Whyte of fraud and financial assistance over his takeover in less that two hours.

The case revolved around Whyte's deal to sell off rights to three years of future season tickets to investment firm Ticketus in a bid to raise ?24 million to fulfil his agreement with Murray over the purchase, secured by personal guarantees.  

 

Murray said he would never have sold if he knew about the tickets deal.

But Donald Findlay QC defending said Whyte was the ?fall guy? for the state of the club and as the share purchase agreement with Murray referred to using ?third party funding? there was no deception and so no fraud.

Just ten days ago Her Majesty?s Revenue and Customs won a long-running legal battle over the use of EBTs to pay players and staff at Rangers Football Club.

The tax authority opened its investigation into Rangers in 2010 after about ?50 million worth of payments were made to dozens of employees through employee benefit trusts (EBTs) from 2001, and the case continued after liquidation.

After suffering two tax tribunal defeats to the Murray Group, the former majority shareholder of Rangers which administered the EBT scheme, HMRC won a binding Supreme Court judgement. Lord Hodge and his fellow judges agreed with HMRC?s assertion the payments were taxable earnings and not loans, as contended by the club.

It lay the way clear for the taxman to lay claim to a small portion of what was owed from the liquidated oldco now named RFC 2012 plc, Liquidators have previously confirmed that ?72m of the ?94.4m owed to Her Majesty?s Revenue and Customs (HRMC) relied on the taxman's claim that Rangers oldco was liable for its use of EBTs.

 

[whyskey]

I suspect you are John James

I suspect you are a tribute act  idiot

[davieholt]

Don't understand how the assets could be 'sold' to sevco if they were security for a loan? As I recall Whyte wasn't being charged with a fraudulent transaction at the time Duff & Phelps agreed the sale?

[Geoff Kilpatrick]

Don't understand how the assets could be 'sold' to sevco if they were security for a loan? As I recall Whyte wasn't being charged with a fraudulent transaction at the time Duff & Phelps agreed the sale?

The administrators had the asset control on behalf of the creditors. They packaged them up and sold them to Sevco with creditor agreement.

 

Maybe Hector should have vetoed that and had them auctioned off.

[Footballfirst]

Thanks EH11 - The Sunday Herald article is based on Lord Doherty's decision which was made in March 2016, but only published after the conclusion of the Whyte trial.  Things have moved on since then.

 

Whyte is not in line to gain anything.  Wavetower was dissolved last month. Worthington Group has been in liquidation since January.  The Floating Charge claim has been taken up by Henderson and Jones, a company that specialises in taking on outstanding claims by insolvent companies, for a share of the proceeds. (as confirmed in the last BDO report).  Their claim is being pursued under case no P231/17 at the Court of Session.

 

From the BDO Report published a month ago:

 

 

 

With the Committee?s approval, the Joint Liquidators sought directions from the Court on the rejection procedure for the Wavetower claim, with a view to bringing the matter to a final conclusion. A note in this regard was lodged and served on Wavetower, who had until 7 April 2017 to lodge answers.

 

Wavetower did not lodge answers by 10 April 2017 and a hearing was therefore scheduled for 30 May 2017 at which the Joint Liquidators intended to seek further directions. Shortly prior to the directions hearing, the Joint Liquidators received notice that Wavetower?s claim had been assigned to Henderson & Jones Limited (?HJL?) , a specialist purchaser of claims

and litigation from insolvent companies.

 

At the hearing on 31 May 2017, at which Wavetower/HJL were both represented and during which they advanced arguments attempting to stay the proceedings we are pleased to advise that the Court agreed with all aspects of the directions application made by the Joint Liquidators? Counsel.

 

As such, on receipt of the interlocutor from the Court, Wavetower/HJL will have 28 days to submit a further claim should they choose to do so. If a claim is submitted then the Joint Liquidators should be able to adjudicate it under the provisions of the Insolvency (Scotland) Rules 1986, as they apply to unsecured creditors.

Edited July 16, 2017 by Footballfirst

[Mikey1874]

Good news that the book, film and television rights are in safe hands.

Edited July 16, 2017 by Mikey1874

[...a bit disco]

It's okau folks.

 

The OO have issued a statement.

 

[XB52]

Funny how the OO statement reads exactly like a sevco press release

[Jamboelite]

It's okau folks.

 

The OO have issued a statement.

 

So a mirror copy of the 1872 statement.

[buzzbomb1958]

Tramps no more to be said

[Jammy T]

'Have chose'

 

Retards

Edited July 16, 2017 by Jammy T

[davieholt]

'Have chose'

Retards

Should have been ' have went and chose'

[Jammy T]

I believe the Pedro stuff

 

Sending first team players from last season - who were hardly obvious trouble makers - to train with the kids and 'find another club' reeks of a couple of things

 

1. Very poor management

2. Players from last season not buying into the new guy

3. A split in the squad

 

I don't believe for a minute that Rangers are going to do anything other than self implode on the pitch this season.

[i wish jj was my dad]

It's okau folks.

 

The OO have issued a statement.

 

Looks like Traynor's paws are all over this.

 

They really have no shame.

[upgotheheads]

Looks like Traynor's paws are all over this.

 

They really have no shame.

"The Herald have chose not to cover"

 

Did they get Willie Miller to right the statement?

[Stephen Muddie]

Is this the most read and posted on thread in ikb history?



Wake me up when they're proper deid

[MacDonald Jardine]

Looks like Traynor's paws are all over this.

 

They really have no shame.

WTF does this have to do with Traynor or Rangers?

 

Sent from my SM-G930F using Tapatalk

[Paris 84]

WTF does this have to do with Traynor or Rangers?

 

Sent from my SM-G930F using Tapatalk

Shockeroooony!!

[MacDonald Jardine]

Shockeroooony!!

Well that adds massively to the debate.

For the record do you think Traynor drafted that?

 

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[Unknown user]

WTF does this have to do with Traynor or Rangers?

 

Sent from my SM-G930F using Tapatalk

I was wondering the same tbh

[i wish jj was my dad]

WTF does this have to do with Traynor or Rangers?

 

Sent from my SM-G930F using Tapatalk

I would have thought you would be familiar with a level 5 style statement? Edited July 16, 2017 by i wish jj was my dad

[Unknown user]

I would have thought you would be familiar with a level 5 style statement?

What does this have to do with rangers though?

[i wish jj was my dad]

What does this have to do with rangers though?

it just looks like one of their righteous press releases

[Gizmo]

What does this have to do with rangers though?

It's the same aggressive what-aboutery style deflection press release that is very, very reminiscent of the manner in which Rangers and Rangers fan clubs issue statements, which was what the poster was alluding to. 

 

Any overlap between the two organisations and their penchant for defending 'protestant culture and heritage" is, presumably, entirely co-incidental. 

[fabienleclerq]

.

[CJGJ]

then when you piu

What does this have to do with rangers though?

It has nothing to do with them as we all know but some posters want to link anything and everything to this thread.............then when you point that out they make up totally frivolous connections to try and prove their point when there is no connection

 

Sad but true...if only they'd stick to the subject matter

[Unknown user]

it just looks like one of their righteous press releases

Ok, not really relevant to this thread then

[Independence]

WTF does this have to do with Traynor or Rangers?

 

Sent from my SM-G930F using Tapatalk

I don't believe you don't know! However, better for a small section of our society to continue to bury their heads in the sand and shout 'nothing to see here'! Of course the Orange statement is bullying as well as they don't want a free press but they want to dictate what is written. Anyone who has witnessed an Orang Walk will know exactly what this is all about!

[Unknown user]

I don't believe you don't know! However, better for a small section of our society to continue to bury their heads in the sand and shout 'nothing to see here'! Of course the Orange statement is bullying as well as they don't want a free press but they want to dictate what is written. Anyone who has witnessed an Orang Walk will know exactly what this is all about!

Irrelevant on this thread though, we're here to talk about rangers old and new.

[MacDonald Jardine]

I don't believe you don't know! However, better for a small section of our society to continue to bury their heads in the sand and shout 'nothing to see here'! Of course the Orange statement is bullying as well as they don't want a free press but they want to dictate what is written. Anyone who has witnessed an Orang Walk will know exactly what this is all about!

Okay. I'll ask you the same question I asked earlier.

Do you think Traynor wrote that statement?

And another: why on earth should he?

 

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[Footballfirst]

Club 1872 Statement

"Unfortunately this is not the first time the Daily Record has failed to treat Rangers and its supporters in an equivalent manner to how it has treated others."

 

"Club 1872 is currently in the process of examining several recent articles to see if there have been further breaches of IPSO guidelines."

 

"but there is a difference between holding to account and pursuing a baseless agenda to attack and diminish."

 

"If Rangers supporters continue to choose to spend their cash or read news online via the Daily Record website then it is unlikely anything will change. If we do not, then perhaps those running it will finally realise that we will no longer accept anything other than fair and balanced coverage of our club."

 

The Grand Orange Lodge of Scotland Statement

"Unfortunately this is not the first time the Herald has failed to treat The Grand Orange Lodge of Scotland and its members in an equivalent manner to how it has treated others."

 

"The Grand Lodge executive and learned counsel are currently in the process of examining recent articles to see if there have been breaches of IPSO guidelines."

 

"but there is a difference between holding to account and pursuing a baseless agenda to attack and demonise our Protestant Culture & Heritage."

 

"If Orange Order members and friends continue to choose to spend their hard earned money or read news online via the Herald website then it is unlikely anything will change. If we do not, then perhaps those running it will finally realise that we will no longer accept anything other than a fair and balanced coverage of our institution.?

 

==========================

 

The similarities in the language used would suggest the two statements were written by the same hand, or at the very least by someone who shares an interest in the other.

Edited July 16, 2017 by Footballfirst

[MacDonald Jardine]

Club 1872 Statement

"Unfortunately this is not the first time the Daily Record has failed to treat Rangers and its supporters in an equivalent manner to how it has treated others."

 

"Club 1872 is currently in the process of examining several recent articles to see if there have been further breaches of IPSO guidelines."

 

"If Rangers supporters continue to choose to spend their cash or read news online via the Daily Record website then it is unlikely anything will change. If we do not, then perhaps those running it will finally realise that we will no longer accept anything other than fair and balanced coverage of our club."

 

OO Statement

"Unfortunately this is not the first time the Herald has failed to treat The Grand Orange Lodge of Scotland and its members in an equivalent manner to how it has treated others."

 

"The Grand Lodge executive and learned counsel are currently in the process of examining recent articles to see if there have been breaches of IPSO guidelines."

 

"If Orange Order members and friends continue to choose to spend their hard earned money or read news online via the Herald website then it is unlikely anything will change. If we do not, then perhaps those running it will finally realise that we will no longer accept anything other than a fair and balanced coverage of our institution.?

 

==========================

 

The similarities in the language used would suggest the two statements were written by the same hand, or at the very least by someone who shares an interest in the other.

That might well be the case.

Is Traynor now writing Club 1872 statements as well?

 

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[Unknown user]

 

 

Club 1872 Statement

"Unfortunately this is not the first time the Daily Record has failed to treat Rangers and its supporters in an equivalent manner to how it has treated others."

 

"Club 1872 is currently in the process of examining several recent articles to see if there have been further breaches of IPSO guidelines."

 

"If Rangers supporters continue to choose to spend their cash or read news online via the Daily Record website then it is unlikely anything will change. If we do not, then perhaps those running it will finally realise that we will no longer accept anything other than fair and balanced coverage of our club."

 

OO Statement

"Unfortunately this is not the first time the Herald has failed to treat The Grand Orange Lodge of Scotland and its members in an equivalent manner to how it has treated others."

 

"The Grand Lodge executive and learned counsel are currently in the process of examining recent articles to see if there have been breaches of IPSO guidelines."

 

"If Orange Order members and friends continue to choose to spend their hard earned money or read news online via the Herald website then it is unlikely anything will change. If we do not, then perhaps those running it will finally realise that we will no longer accept anything other than a fair and balanced coverage of our institution.?

 

==========================

 

The similarities in the language used would suggest the two statements were written by the same hand, or at the very least by someone who shares an interest in the other.

 

Noted, but let's start a thread in the shed if we want to talk about the orange order - after all, it's the easiest thing in the world to copy another statement and make small changes.

 

This thread is about the laughing stock freak show that is The Rangers and old rangers, not the orange order.

Edited July 16, 2017 by Smithee

[Dagger Is Back]

Should have been ' have went and chose'

Defiantly went and chose?

[Footballfirst]

That might well be the case.

Is Traynor now writing Club 1872 statements as well?

 

Sent from my SM-G930F using Tapatalk

I don't know who wrote them, but given that they were issued within two days of one another, there is at least the probability of a connection between the two.

 

It's an observation, nothing more.

[Mikey1874]

Brilliant

 

Cut and paste

[Jamboelite]

I don't know who wrote them, but given that they were issued within two days of one another, there is at least the probability of a connection between the two.

 

It's an observation, nothing more.

And a fair one at that.

[Poseidon]

"The Herald have chose not to cover"

 

Did they get Willie Miller to right the statement?

right or write?

[Unknown user]

Unfortunately this is not the first time the Daily Record has failed to treat Smithee and his family in an equivalent manner to how it has treated others.

 

Smithee is currently in the process of examining several recent articles to see if there have been further breaches of IPSO guidelines.

 

If Smithee's peeps continue to choose to spend their cash or read news online via the Daily Record website then it is unlikely anything will change. If we do not, then perhaps those running it will finally realise that we will no longer accept anything other than fair and balanced coverage of our family.

 

Traynor!! Grrrrr

[RobNox]

Noted, but let's start a thread in the shed if we want to talk about the orange order - after all, it's the easiest thing in the world to copy another statement and make small changes.

 

This thread is about the laughing stock freak show that is The Rangers and old rangers, not the orange order.

[Paris 84]

Well that adds massively to the debate.

For the record do you think Traynor drafted that?

 

Sent from my SM-G930F using Tapatalk

The 'shockeroooony' comment was based on the fact that I thought there would only be one of three posters that would respond negatively; you, Bowmans Boot or the twat with four initials.

 

Out of the hundreds of posters on here; I comfortably narrowed it down to three; and you stepped up first. For the record I couldn't give a **** if Traynor drafted it or not.

[The Gasman]

I believe the Pedro stuff

 

Sending first team players from last season - who were hardly obvious trouble makers - to train with the kids and 'find another club' reeks of a couple of things

 

1. Very poor management

2. Players from last season not buying into the new guy

3. A split in the squad

 

I don't believe for a minute that Rangers are going to do anything other than self implode on the pitch this season.

It may also be a crude attempt to piss off players they don't want, to get them off the wage bill on the cheap....

[The Real Maroonblood]

The 'shockeroooony' comment was based on the fact that I thought there would only be one of three posters that would respond negatively; you, Bowmans Boot or the twat with four initials.

Out of the hundreds of posters on here; I comfortably narrowed it down to three; and you stepped up first. For the record I couldn't give a **** if Traynor drafted it or not.

Good post.

[Jammy T]

It may also be a crude attempt to piss off players they don't want, to get them off the wage bill on the cheap....

Yep, this as well

[AllyjamboDerbyshire]

I don't know who wrote them, but given that they were issued within two days of one another, there is at least the probability of a connection between the two.

 

It's an observation, nothing more.

_________

 

And a valid observation to make on this thread, as the connection between the two organisations is indisputable, with the supremacist attitude they share undoubtedly a factor in what led to the demise and end of Rangers Football Club.