BlueMazza 0 Posted March 14, 2012 Share Posted March 14, 2012 Allan Price (BBC apparently) has tweeted the following: BBC: #Rangers may not be in administration because of a legal technicality. CourtofSession to settle the issue on Monday. More to follow Potentially a complete non-issue but he is suggesting that D&P could be removed as Admins if creditors complain. 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted March 14, 2012 Share Posted March 14, 2012 Will we get Greg Wylde back then? 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,724 Posted March 14, 2012 Share Posted March 14, 2012 Dear god,what next? 0 Quote Link to post Share on other sites More sharing options...
Craigy1881 79 Posted March 14, 2012 Share Posted March 14, 2012 STV ran an article yesterday about this Rangers administrators have launched a legal move to ratify their position after the club’s previous registration to the Financial Services Authority came to light. Last week, Duff and Phelps went to the Court of Session to ratify their position as administrators after their investigations revealed Rangers had previously been registered to the Financial Services Authority between 2008 and 2009. This is believed to relate to the Rangers Money credit card and financial scheme the club offered during that time. Later this month the petition to confirm the administrator’s position at the Ibrox club will call again. A spokesman for Duff & Phelps said: "Following our appointment as administrators of Rangers Football Club, investigations revealed the company was registered with the Financial Service Authority between 2008 and 2009. This discovery meant that our appointment should have been notified to the FSA by the directors of the company and consented to in advance. "This consent has now been sought and granted and our appointment has to be ratified by the Court of Session on March 19. It is envisaged that this hearing is a formality and that the process will not impact in any way the progress of the insolvency. "Until such time we act as interim managers of the company and the powers provided to us by the court are identical to those of administrators, so as to ensure that the case can continue with the same level of speed and focus as has been developed to date." 0 Quote Link to post Share on other sites More sharing options...
Bears 0 Posted March 14, 2012 Share Posted March 14, 2012 Laymens terms please 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted March 14, 2012 Share Posted March 14, 2012 Do all these lawyers have to be paid then??? I'm only asking about money because we don't seem to have very much of it. 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted March 14, 2012 Share Posted March 14, 2012 Old news. IIRC, administrators are de facto administrators at present, and will have their appointment rubber stamped on Monday. Mischief making I think. Remember that almost every Tom Dick and Harry reckons this is the season for daily scare stories to boost media sales, etc. All the other Tim, Dick and Harrys want to put every scare story out there and hope their wildest dreams come true. Which they won't. After this blows over, there are a few debts to settle and a few wrongs to right. Things won't be the same again. 0 Quote Link to post Share on other sites More sharing options...
Ergatrude 0 Posted March 14, 2012 Share Posted March 14, 2012 Rangers Football Club may not be in administration because of a legal technicality, it has emerged. A hearing is to be held at the Court of Session in Edinburgh on 19 March to settle the issue. Accountants Duff and Phelps were supposed to have been appointed administrators of Rangers Football Club plc last month. The Financial Services Authority (FSA) was not notified, meaning administration was not legally binding. The club returned to the Court of Session on 9 March to ask for a new order, backdated to 14 February, when Lord Hodge had originally granted administration. He has now granted the club an interlocutor - a court order - allowing the matter to be heard in Edinburgh next week. Creditor challenge In the meantime Paul Clark and David Whitehouse of Duff and Phelps will act as "joint interim managers" of Rangers. An expert in insolvency told BBC Scotland although this was a technicality, it could offer interested parties such as HM Revenue and Customs (HMRC) a chance to challenge the way in which the club's affairs have been handled in the past month. It has also emerged that Duff and Phelps are set to challenge the creditor status of finance firm Ticketus. A two-day hearing is set to get under way at the Court of Session on Thursday. Rangers owner Craig Whyte is understood to have mortgaged about £24m of future season ticket sales over a four year period to Ticketus. The finance firm has since been named as a partner in the so-called Blue Knights consortium looking to take over the club. http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17373292? 0 Quote Link to post Share on other sites More sharing options...
Ergatrude 0 Posted March 14, 2012 Share Posted March 14, 2012 Oops, never saw the original thread, sorry. 0 Quote Link to post Share on other sites More sharing options...
aweebluesoandso 290 Posted March 14, 2012 Share Posted March 14, 2012 Give us our ten points back then and while you're at it, sack that incompetent Muppet Regan. 0 Quote Link to post Share on other sites More sharing options...
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