ian1964 10,724 Posted February 13, 2012 Share Posted February 13, 2012 Rangers have filed court papers signalling their intention to go into administration. STV can exclusively reveal the Ibrox club lodged the notice at the Court of Session in Edinburgh at lunchtime on Monday. It is understood the papers are the first step in any formal administration process. They now have ten days in which to declare administrators have taken over the running of the Glasgow-based club. STV understands owner Craig Whyte, director of operations Ali Russell and board member Andrew Ellis had a meeting with manager Ally McCoist on Monday as the papers were lodged. HM Revenue and Customs guidelines state that "The appointment of the administrator will take effect within ten business days of the date the notice of intention is filed." This period allows the company to speak to creditors to see if they reach an agreement. If they enter administration the Scottish Premier League champions would automatically be docked ten points. 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 an Employee Benefits Trust to pay players and staff. It is thought the decision to lodge court papers means the result of this tax case is likely to be known imminently. The First Tier Tax Tribunal confirmed the decision in the case against Rangers has not been published, although it could not confirm whether or not the club had learnt of it ahead of it being released publicly. 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...
True_Ger_1872 2 Posted February 13, 2012 Share Posted February 13, 2012 Was a foregone conclusion for months now. It has been being built towards this. Sent from my GT-I9000 using Tapatalk 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted February 13, 2012 Share Posted February 13, 2012 Well it's done we all said it probably would, CW said it might and it has. Now the hard work starts Mr Whyte and you better be up for it. 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted February 13, 2012 Share Posted February 13, 2012 We only become a new club if we go into liquidation. Administration, all going to plan, will have us agree settlements with our creditors and allow us to move forward. As long as the creditors agree to a fraction of what they are owed! True, true. I'm just cracking up and some irrationality creeps in. I forgot I'd had administration explained to me. Fucking, cunt, bastard businessmen just the same though. 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted February 13, 2012 Share Posted February 13, 2012 (edited) 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. The lack of accounts is a major concern, and I believe that we must still see some kind of audited accounts for the last year. Following on from my earlier posts, I sensed this coming. The game plan should now be that nothing be decided without the approval of the fan base. WE are the revenue stream, and WE can decide whether to support any future management/ownership or not. It is impossible for anyone to operate the Club without our financial clout, and it follows, our approval. Time for all of our factions to join together unanimously? Anyone for a Season Ticket Members Alliance? Edited February 13, 2012 by bluebear54 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted February 13, 2012 Share Posted February 13, 2012 This is a major concern. Following on from my earlier posts, I sensed this coming. The game plan should now be that nothing be decided without the approval of the fan base. WE are the revenue stream, and WE can decide whether to support any future management/ownership or not. It is impossible for anyone to operate the Club without our approval. Time for all of our factions to join together unanimously. Anyone for a Season Ticket Members Alliance? If I thought we could agree on anything I would jump in with both feet but I doubt we can it's going to be very messy in the coming months. 0 Quote Link to post Share on other sites More sharing options...
Guest carter001 Posted February 13, 2012 Share Posted February 13, 2012 My advice....keep calm, accept the season is over, take the slagging that's inevitably coming our way and wait for a fresh start next season. I've no doubt that every bit of this is planned, including the timing. By doing it themselves they can control this. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted February 13, 2012 Share Posted February 13, 2012 If the tax result is nigh, it's probably the best time for this to happen. As I understand it, at present we don't owe HMRC anything for the Bog case - coz it's not been decided yet. Therefore, if we don't owe them anything, they form no part of a CVA. However, if the Tax case went against us, we would owe them a lot, and any CVA would be near on impossible to agree..... 0 Quote Link to post Share on other sites More sharing options...
Little General 80 Posted February 13, 2012 Share Posted February 13, 2012 nothing on the Rangers website. an explanation should be in order. 0 Quote Link to post Share on other sites More sharing options...
Craigy1881 79 Posted February 13, 2012 Share Posted February 13, 2012 STV are now mentioning this, so maybe it has gone against us It is thought the decision to lodge court papers means the result of this tax case is likely to be known imminently. The First Tier Tax Tribunal confirmed the decision in the case against Rangers has not been published, although it could not confirm whether or not the club had learnt of it ahead of it being released publicly. 0 Quote Link to post Share on other sites More sharing options...
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