craig 5,199 Posted February 14, 2012 Share Posted February 14, 2012 Surely it would cost 100m? Square off the tax bill and debt? Not necessarily, the administrators will likely be looking to cut deals with the creditors to pay them pennies in the pound. HMRC MIGHT (unlikely, but still possible) accept a reduced amount in order to secure something. Lets not also forget that the tax bill is by no means a certainty yet. The administration event is not as a consequence of the EBT tax bill, it would seem. We could win that case and have just this 9 million VAT&PAYE bill hanging over us, plus all the other deals Whyte has been cutting all over the place (ticketus etc). 0 Quote Link to post Share on other sites More sharing options...
Little General 80 Posted February 14, 2012 Share Posted February 14, 2012 (edited) SPL website has crashed.surprised neither Doncaster or Regan have been asked to comment. statement from SPL SCOTTISH PREMIER LEAGUEPRESS RELEASE We are currently experiencing an increase in traffic to http://www.scotprem.com and as a result the website is currently unavailable. Please see below our recent press statement related to Rangers FC in administration: SCOTTISH PREMIER LEAGUE PRESS RELEASE The Rangers Football Club PLC in Administration Following Rangers FC entering administration today, the SPL confirmed that a number of sporting sanctions have been applied to the club. An SPL spokesperson said: "As Rangers FC is subject to an Insolvency Event, a ten point deduction has been applied to its total points in the League Championship for the current Season. In addition, Rangers FC is subject to restrictions on the registration of Players with the SPL whilst in administration." "We are seeking an early meeting with the Administrators." -ENDS- NOTES TO EDITOR The SPL Rules in relation to insolvency (SPL Rule A6.8 to A6.20), which include an automatic 10 point deduction in the event of administration, were adopted by the clubs at a General Meeting in January 2004. Edited February 14, 2012 by Little General spelling 0 Quote Link to post Share on other sites More sharing options...
metlika 0 Posted February 14, 2012 Share Posted February 14, 2012 Excuse my French but they were fucking fast to hit us with a deduction. 0 Quote Link to post Share on other sites More sharing options...
Ergatrude 0 Posted February 14, 2012 Share Posted February 14, 2012 How smart and clever will Whyte look if the FTT don't rule against us (as remote a possibility as that may be). Even if the FTT don't rule against us HMRC would have appealed & it would have dragged on into next season & possibly beyond. 0 Quote Link to post Share on other sites More sharing options...
Ergatrude 0 Posted February 14, 2012 Share Posted February 14, 2012 Excuse my French but they were fucking fast to hit us with a deduction. Lawwell would have been on the phone demanding the deduction as soon as the news of entering admin hit us at 3pm. Wouldn't surprise me if he has already asked for the trophy to be sent to Parkhead. 0 Quote Link to post Share on other sites More sharing options...
Jim1955 12 Posted February 14, 2012 Share Posted February 14, 2012 Lawwell would have been on the phone demanding the deduction as soon as the news of entering admin hit us at 3pm. Wouldn't surprise me if he has already asked for the trophy to be sent to Parkhead. They now have to win by at least 10 pts. 0 Quote Link to post Share on other sites More sharing options...
Ergatrude 0 Posted February 14, 2012 Share Posted February 14, 2012 Today I endured the expected abuse from the Timmy's in my work (all relatively decent guys btw), but they all shut up when I pointed out that they are going to win the league by default (basically :fish:) & that they were kicked out of the Europa league TWICE. It's not so good to gloat when you win a one horse race. I also pointed out that even if Rangers did cease to exist (which, of course, won't happen) it would still take the scumbags 13 years to win the league as many times as us and this fact alone, for me, is fucking excellent. 0 Quote Link to post Share on other sites More sharing options...
Ergatrude 0 Posted February 14, 2012 Share Posted February 14, 2012 Roses are red violets are blue, Go fuck yer taxman, the celtic too, We have a history that no one can equal, cos we are the rangers WE ARE THE PEOPLE, So keep your ten points, keep all our cash, & while you do this we will be singin the sash. I like it. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted February 14, 2012 Share Posted February 14, 2012 Excuse my French but they were fucking fast to hit us with a deduction. It is automatic as soon as administration is certain. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted February 15, 2012 Share Posted February 15, 2012 As a bond holder, I believe I am an unsecured creditor. I look forward to receiving information from the administrators with interest. I may be wrong on this BD but I was told some time back and again today that you are actually a secured creditor or have equivalent status (certainly ranking above ordinary shareholders) i.e. next in line behind CW, but it is likely that you will lose the free loan you gave the Club and with it the right to buy a ticket in the bond deck. 0 Quote Link to post Share on other sites More sharing options...
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