Darthter

I get the impression that Paul Murray is typical upper-middle management.....spends all day in meetings, discussing what he's going to do, but never actually gets round to doing it. Brian Kennedy on the other appears the type to just get on and get things done. Unfortunately, he has come in too late!!!

Out of all the bidders in the process, they have been given more time to get themselves sorted. It only appears to be in the past week, since Kennedy came on board that anything productive appears to have happened. Yet according to media reports, they still fall way short. I agree with CG that the BK's have been all hot air since day one - that's not saying that they haven't tried, I just get the impression they've spent more time trying to get the fans on side than putting a credible bid together. Bill Miller made his intentions clear, got his bid together & put it on the table and has sat back and waited patiently ever since - no media hype or spin.

I've said for a while that there needs to be a SINGLE voice representing the fans & the various groups. Once that happens at a practical level, we will then see the influence that the Rangers support can have!!!

I think it's looked that way for a loooong time!!!

are we not just taking it for granted the it will be "48 hours" unless otherwise stated!!!

One of the benefits I have always felt of a foreign bidder/owner was the possibility of fresh sponsorship opportunities. It'd be interesting if Miller wins, would his towing company sponsor, and for how much???

Could it be that they don't see a CVA being approved???

Think only creditors have any recourse with the courts - RFFF are not a creditor.

Is a newco such a bad thing???? Various source are suggesting that history retention shouldn't be an issue - several cases of this happening in the past. It would remove Whyte & ticketus from the equation. I think recent activities would suggest that license transfer for SPL would be approved. It could also happen pretty quickly, and therefore ending the saga that is currently ongoing....

it appears to be the cleanest, quickest way out of this mess....

Why bother with the BK's then.....why not just accept Miller's bid & get on with it???

I believe with a complete newco, where the current RFC PLC is removed from existence the HMRC debt would die with the company. With Millers plan, it would simply go into the creditors pot, to be covered by the purchase money for the team assets.

I think that's where Miller's bid comes in. He's looking to transfer the assets to his "incubator" club. That way the original company has no assets to sell, but has approx £11m in the bank for the creditors. The creditors would then have no option but to accept the CVA.

'specially from the 1st Div...

It certainly seem that Brian Kennedy is starting to call the shots a lot more within TBK's!!! Maybe the bid will actually progress!!! According to the DR this morning, the BK's bid of £5m only included £1.5m for the creditors pot. I would hope that their revised bid offers significantly more than that!!! Works out @ around 2.5p to the pound I think - I can't see any creditor agreeing to that (if it is the case!!)

Goosebumps......It nearly made me greet!!! Excellent song & video!!!

The way I understand things is that Whyte's shares stay where they are..... Once the CVA has been agreed and paid, the PLC is then debt free. Whyte then has a choice.....sell the shares for a nominal price, and the PLC/incubator co are merged, or own 83% of a company valued at zero with no assets.

I think the Admins have stated that financially it ticks the boxes - Just waiting on clarification about the SPL/SFA sanctions (if any) for his proposed plan.

Quite possibly....but the problem arises when your competition has submitted a higher bid!!!

I've thought that many times....and its one of the main reasons why I don't trust TBK's!!! In essence, Paul Murray has had plans for over a year, yet still can't get a deal over the line - It certainly doesn't will me with confidence moving forward!!!

Could it be the date that the new proposals come into force??? Would make sense that they need to get the newco setup & assets etc shifted BEFORE the rules come into play.

Totally agree....They appear to have NO FUNDS of their own. This, to me, has been evident from the start. They are relying on outside sources of funding - initially Ticketus, whom they couldn't agree a deal with, now with Brian Kennedy - whom I would suggest is putting up the vast majority of the money. TBK's are essentially doing the same thing as Craig Whyte, the only difference being that they are slightly more open about it. They know the offer that Miller has put on the table - either match/better it, or F*** off!!!

What exactly have the other clubs been doing since the proposals were announced??? Did they all forget about the meeting this morning & haven't "studied"??

What time???

I think it would make the CVA easier!!!! All assets are moved to the incubator company and the Creditors are offered a cut of £11.2m via CVA. In liquidation, the companies assets would normally be sold & the proceeds then split between the creditors. However, RFC PLC doesn't have any assets, just £11.2m sitting in the bank, so the creditors would get their cut of that. Liquidation would therefore offer no possible increase in payments - either way the creditors get a cut of £11.2m!!! Based on that thinking, there is no reason to oppose the CVA, and liquidation SHOULD be avoided.