Rapid Vienna to vote against Rangers CVA

[ian1964 10,777]

Lifted from FF

 

So says Martin Williams of the Scotsman on twitter.

 

RAPID VIENNA will be represented at Thursdayâ??s meeting at Ibrox to determine the outcome of Charles Greenâ??s CVA proposal â?? and the Austrians will vote against it.

The club is owed £1,011,763.44 by Rangers from the £4million transfer of Croatia striker Nikica Jelavic in August 2010.

 

Greenâ??s offer means Rapid would instead receive a maximum of just over £91,000 â?? even though Rangers will recoup all £5.5m from the sale of Jelavic to Everton in January.

 

Rapid could also end up with a lot less because creditors have been told the amount they receive will depend on the outcome of the big tax case and £25m lawsuit against lawyers Collyer Bristow.

 

It could take years for these to be settled and, if results go against Ally McCoistâ??s Rangers, Rapid could end up with just £10,000 of the cash due to them â?? which is why they insist theyâ??ll take their case against the Ibrox club to UEFA and FIFA.

 

We expect others to do the same and, if need be, weâ??ll go to UEFA and FIFA to help us in this case

Rapid PR man Peter Klinglmuller

â??We have a contract with a British law company and they will be at Thursdayâ??s meeting taking care of the business on our behalf,â? said Rapid PR man Peter Klinglmuller.

 

â??Itâ??s important that we receive the full amount due for Jelavic and not just a percentage of the fee.

 

â??When you do business with a big European club then you expect to be paid the full amount.

 

â??In a Jelavic interview in an Austrian newspaper the other day he said that he expected to get more money from Rangers than our club would.

 

â??It seems unfair that we might not receive what we are owed when Rangers expect Everton to pay the fee they agreed for him.

 

â??I donâ??t know how it works in Scotland but weâ??re used to paying fees in full.

 

â??We expect others to do the same and, if need be, weâ??ll go to UEFA and FIFA to help us in this case.â?

[TheWeeBlueDevil 0]

Would be good if Green could do a deal with Rapid to pay the fee at a later date , but I think that would leave other creditors even more pissed off and likely to vote against us .

 

Just a really sad situation for our club to be in

[forlanssister 3,114]

Can't really blame them for taking that stance, if the roles were reversed I'd expect us to do the same.

[der Berliner 3,876]

And here was me thinking that we paid Rapid long ago. Someone like that was bound to happen by, and who knows what Arsenal, Orebro and Hearts will do.

 

All that said, would them voting against the CVA affect the outcome, given that their percentage in the pot is relatively small, compared to HMRC and/or Ticketus? I can understand them being against it, or wanting UEFA/FIFA to step in here, but again, this is not a normal circumstance and we were driven into this by essentially one person, and one person alone. I wonder whether the RFFF can strike a deal with this lot and the other clubs, though I doubt that we can gather the ammounts required here, 2m plus.

[Zappa 0]

This shouldn't come as a surprise to us at all. Rapid were awkward to do a deal with in the first place and made a fuss about the last payment being slightly late, so they were always going to oppose the CVA and take the matter to a higher authority.

[der Berliner 3,876]

The point is whether any higher authority can decide to punish us here. I mean, while these people have a rightful claim, so too have the Spanish people who are "owed" Euro 1.3bn from the La Liga teams in unpaid tax and insurances ... and UEFA turning a blind eye on e.g. Athletic Madrid (134m in the red, mainly unpaid tax IIRC) but letting them play in the Europa League? Precedence and all?

[pete 2,499]

This shouldn't come as a surprise to us at all. Rapid were awkward to do a deal with in the first place and made a fuss about the last payment being slightly late, so they were always going to oppose the CVA and take the matter to a higher authority.

 

And rightly too. I would be totally pissed off if it was against Rangers. Football debts may be delayed but paid in full.

[der Berliner 3,876]

IMHO, these debts should be paid at some stage, most likely by the RFFF rather than the club itself. It may p*ss off other creditors, but our name has indeed be blackened by this and who would sell us any player for a transfer fee in installments from now on?

[Zappa 0]

And rightly too. I would be totally pissed off if it was against Rangers. Football debts may be delayed but paid in full.

 

Can't argue with that pete.

[Zappa 0]

IMHO, these debts should be paid at some stage, most likely by the RFFF rather than the club itself. It may p*ss off other creditors, but our name has indeed be blackened by this and who would sell us any player for a transfer fee in installments from now on?

 

In terms of paying our debts for player signings our name will only be blackened if the football clubs don't get paid in full. Those debts simply have to be paid or as you say, we'll have trouble trying to buy players.