ian1964 10,761 Posted February 13, 2012 Share Posted February 13, 2012 Rangers have lodged an intention to go into administration with the Court of Session. The Ibrox club lodged the notice in Edinburgh at Monday lunchtime. They now have ten days in which to declare administrators have taken over the running of the club. It is understood the papers are the first step in any formal administration process. It allows the club to speak to creditors to see if they reach an agreement without appointing administrators to take over the running of the club. Rangers FC are currently awaiting the result of a £49m tax case with HM Revenue and Customs in relation to the club's use of the Employee Benefits Trust to pay players and staff. The Court of Session confirmed to STV that papers signalling the intention to appoint administrators had been received from the club's solicitors acting on behalf of their directors. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted February 13, 2012 Share Posted February 13, 2012 So much for Whyte repeatedly saying to fans that administration was only a last resort. It's beyond doubt that Whyte is an out and out liar. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted February 13, 2012 Share Posted February 13, 2012 It's beyond doubt that Whyte is an out and out liar. Trying to play Devils advocate.....maybe this is the last resort!!! (but then again....maybe this was the plan all along...) 0 Quote Link to post Share on other sites More sharing options...
Danny 0 Posted February 13, 2012 Share Posted February 13, 2012 I'm truly, utterly and totally shocked beyond words. I just watched part 3 of the Walter Smith documentary and then get a text saying administration. I don't know whether to fear for the club's future or not. 0 Quote Link to post Share on other sites More sharing options...
ascender 352 Posted February 13, 2012 Share Posted February 13, 2012 Whyte or no Whyte I think this has been on the cards for a while now and we've only been kidding ourselves to think otherwise. When he said there's still a 10 million shortfall in our running costs compared with income, after all the years of down-sizing, that was it for me. Thank you very much Sir David Murray and all those who presided over the mess which has brought our club to its knees. 0 Quote Link to post Share on other sites More sharing options...
laudrup11 0 Posted February 13, 2012 Share Posted February 13, 2012 I'm Devastated by this news How does it effect tax case if we have went into admin before knowing any outcome of case or is it more likely we have been given word we have lost the case ? 0 Quote Link to post Share on other sites More sharing options...
Juancornetto 1 Posted February 13, 2012 Share Posted February 13, 2012 The only thing that is worse about this news is the hundreds of poor misguided folk out there that haven't the first idea what Administration is.....I for one am pretty calm about it. This may be the first step to Rangers becoming a successful functioning football club again. 0 Quote Link to post Share on other sites More sharing options...
Gers4Life 0 Posted February 13, 2012 Share Posted February 13, 2012 The only thing that is worse about this news is the hundreds of poor misguided folk out there that haven't the first idea what Administration is.....I for one am pretty calm about it. This may be the first step to Rangers becoming a successful functioning football club again. I hope your bloody correct 0 Quote Link to post Share on other sites More sharing options...
Danny 0 Posted February 13, 2012 Share Posted February 13, 2012 The only thing that is worse about this news is the hundreds of poor misguided folk out there that haven't the first idea what Administration is.....I for one am pretty calm about it. This may be the first step to Rangers becoming a successful functioning football club again. Then by Christ Juan, cheer me up because I am devastated. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted February 13, 2012 Share Posted February 13, 2012 It's beyond doubt that Whyte is an out and out liar. It's looked that way to me more and more as each week and month has passed and now we won't be seeing the promised accounts getting published either by the looks of it. 0 Quote Link to post Share on other sites More sharing options...
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