10 Apr 2012 00:44:34
The Mail are reporting that the new owners will be announced by Wednesday. HMRC could scupper any deal but it is reported that D&P have been in discussions with HMRC over the weekend to discuss a CVA.
Bill Ng is saying he is looking forward to discussing signings with Ally. Think this week will bring decisive news either way. If all goes well and we are in SPL next year then that is time to judge ally regardless of squad he has left to work with. The only good things this season has been the introduction of young players and the septic keeping hold of gingertim. We may have been 15 ahead but that was with them having games in hand - not much we can do to protect a lead when others games to play ! then the admin and loss of form which is understandable. We lost the league and they took advantage - fair play and congrats to them. Gingertim is not a great manager like they think and will be found wanting big time next season, as for the dignity of him and lawell - folks can make their own minds upbut i know i would not want to be represented in the press by either whatever the situation ! No comparison with the dignity respect and diplomacy shown in recent years by Smith or McCoist and I am sure Stein would turn in his grave at some of antics of gingertim in representing septic - long may gingertim remain !!!!!
They havent even chosen a preferred bid yet so this can't possibly be true
Signings with Ally? Thats when he claims job seekers.
Malmo, Maribor, Falkirk, lost a 15point lead guys got a worse record than le Guen
The future is bright and soon we will be able to make some good signings and challenge celtic again.
Well actually Bill Ng is about to discuss loan deals for a bunch of unknowns from Singapore.
Admins talking to HMRC about CVA = Nonsense.
Why is it nonsence talking about a cva to hmrc it has to be done now
Companies (CVA)
Companies and partnerships
Company Administration / Administration Order
Company Voluntary Arrangement (CVA)
Companies and partnerships
There is no interim order procedure for companies. When protection from creditors is needed companies may obtain a moratorium, or companies and partnerships can go into administration before putting CVA proposals to their creditors. CVA or PVA proposals may be made by the
Administrator when a company or partnership is in administration
Liquidator when the company or partnership is being wound-up
Partners or company directors acting through an IP as nominee.
Company Administration / Administration Order
Once a company is in administration no proceedings can be taken by any creditor for pre- or post-administration debts without the permission of the Administrator or the Court.
The purpose of an administration under the IA 1986 (as originally enacted) is to achieve one or more of
The survival of the company or its undertaking
The approval of a company voluntary arrangement
The approval of a scheme of arrangement
A more advantageous realisation of assets.
There is no mechanism for this administrator to distribute realisations hence a need for an exit route such as CVA.
The objectives of an administration under the 1986 Act as revised by Schedule 16 Enterprise Act 2002 are
The rescue of the company as a going concern
Achieving a better result for the company’s creditors as a whole than would be likely if the company were wound up
Realising property in order to make a distribution to one or more secured or preferential creditors
The administrator is obliged to give primacy to rescue measures and is able to distribute directly to creditors with the sanction of the court.
Administrations traditionally have been very costly because of the heavy involvement of the IP and staff in running the company and were only really suitable for very large concerns. The changes introduced in 2003 are aimed at making entry into administration easier, faster and cheaper. They may not reduce ongoing costs.
Whilst in administration the administrator
May have day to day control of the business and its finances
Acts as agent for the company
May take measures to make the business more viable, for example process re- engineering, downsizing, tightening financial and credit controls.
Within eight weeks of the company going into administration, the administrator must send to creditors details of the administrator’s proposals for achieving the objective of the administration. In certain circumstances a creditors’ meeting will be held.
Company Voluntary Arrangement (CVA)
A CVA may be put forward by
The directors of the company through an IP as nominee or
A liquidator or administrator.
When the directors put forward a proposal: their nominee must report to the Court whether in the nominee's opinion
The proposal has a reasonable prospect of succeeding should be considered for approval at separate meetings of the company’s creditors and members
When the meetings should be held.
Creditors must receive not less than 14 days notice of the meeting, which must be held not more than 28 days from the date of the nominee's report.
When the administrator or liquidator is putting forward the proposal with themselves as nominee
There is no report to Court, they simply have to give 14 days notice to creditors.
If the proposal is approved creditors have appeal rights under Section 6 IA 1986.
Nonsence, cos the BTC no decided yet - so scale of HRMC involvement unclear. who is the 75% needed to agree a CVA ?
I've read this too, I just hope who ever does buy the club have been through strict due dillagence and stricter checks than with CW, fingers crossed for some good news coming out of Ibrox in the next day or two WATP
Well there might be news coming out tomorrow good? I don,t think so!Alex Thomson ch4 wed 7pm will be speaking to Uefa about certain MSP government involvement in RFsee which is very serious in Uefa,s eyes and the 2-3 letters from thommo and top lawyer paul macgonnigle to the MSP,s concerned asking why they are helping rfsee breaching government rules too.Evidence there in black and white so lets see what good news will come out of this when Uefa see the evidence .Don,t believe?Watch ch4 tomorrow!
Why not sell some of the bigger names and pay a lot of the smaller bills now and pay the rest in full over time as we have assets to sell and work with the younger players but still keep our name and not be known as the tax dodgers
@11 - Typical Eastender moaning and greeting into their cornflakes.Fascinated by all things Rangers, hell bent on running us into the ground,writing to any CFC affiliated personnel in a position of power to smack our club down. What's so incredible about an mp/msp saying it as it is, and looking at the bigger picture? Take away the hatred Celtic supporters have for RFC, and all your left with is someone trying to do what he can to save his club, save jobs, and save Scottish football. Regardless of what the RFC haters think,their views are distorted,and delusional. Anyone who thinks RFC going out of existence is good for Scotland, Scottish football, is clearly not worth listening to. Be careful what you wish for bhoys!
Stevie-A-Bear
We take no responsibility for the accuracy or otherwise of published rangers rumours
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