Bluedell 5,679 Posted March 17, 2012 Share Posted March 17, 2012 What do the administrators have planned for us? 1. Artilce today by Stephen Halliday "That agreement was not forthcoming when Duff and Phelps released their own statement, leaving considerable room for doubt over whether Rangers can come out of administration through a Company Voluntary Arrangement with creditors, as preferred by the Blue Knights, instead of liquidation." 2. Duff and Phelps have not contacted all creditors to establish the level of debt and asking them to register themselves 3. Duff and Phelps have been ignoring emails from creditors, and not even acknowledging them. 4. I have not read one opinion from anyone who has stated that Duff and Phelps will be able to remove the shares from Whyte. If they are unable to do that then surely and bids must be for the trade and assets and Rangers will be liquidated? None of that is conclusive in itself but points 2 and 3 do not seem to be the actions of someone who is planning an imminent CVA. Does that mean that liquidation is still the game plan? 0 Quote Link to post Share on other sites More sharing options...
Bears 0 Posted March 17, 2012 Share Posted March 17, 2012 I'm not counting it out, it'd be foolish to think we're out the woods. I'm not sure what to make of the lack of solid bidders yet. They could still be sizing stuff up i guess. 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted March 17, 2012 Share Posted March 17, 2012 As long as Whyte's floating about I don't think we can't rule it out. Admins talk about lifting Whyte's assets through the courts yet there is no sign of it happening. Anyone know the exact procedure in it all? 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted March 17, 2012 Share Posted March 17, 2012 Who checks the Administrators? 0 Quote Link to post Share on other sites More sharing options...
A Horse With No Name 0 Posted March 17, 2012 Share Posted March 17, 2012 Who checks the Administrators? Exactly! I'm getting tired of saying this - I can see no incentive for them to quickly deal with creditors and sell the club and take us out of administration! The opposite is the case - the longer they drag things on the more cash they make! £400,000 pcm is staggering, and there's lots of signs they ain't up to the task! 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted March 17, 2012 Share Posted March 17, 2012 Anything Whyte had a hand in is a no-no for me. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted March 17, 2012 Share Posted March 17, 2012 Who checks the Administrators? Nobody, despite the "officers of the court" spiel. http://visar.csustan.edu/aaba/PwcElliottinsolvency.pdf 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted March 18, 2012 Share Posted March 18, 2012 4. I have not read one opinion from anyone who has stated that Duff and Phelps will be able to remove the shares from Whyte. If they are unable to do that then surely and bids must be for the trade and assets and Rangers will be liquidated? As I said on another thread a few days back, the administrators can take Whyte to court if he won't play ball. Take a look at the Wrexham FC case - http://news.bbc.co.uk/1/hi/wales/north_east/5243772.stm http://news.bbc.co.uk/1/hi/wales/north_east/5241130.stm 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted March 18, 2012 Share Posted March 18, 2012 As I said on another thread a few days back, the administrators can take Whyte to court if he won't play ball. Take a look at the Wrexham FC case - http://news.bbc.co.uk/1/hi/wales/north_east/5243772.stm http://news.bbc.co.uk/1/hi/wales/north_east/5241130.stm Look at the time line in that case, we simply haven't got that particular luxury before we are liquidated. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted March 18, 2012 Share Posted March 18, 2012 Look at the time line in that case, we simply haven't got that particular luxury before we are liquidated. I know forlan, I read the timeline. It's bloody worrying. We just need to hope that Whyte plays ball and agrees to a sale quickly without D&P having to take him to court. 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.