Guest Xander1873 Posted June 11, 2012 Share Posted June 11, 2012 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? Nobody will be accepting payment in instalments from us anyway, there is no football creditors rule in Scotland. So I am afraid that they are in the same boat as other creditors. This has nothing to do with finances because as I understand it if the CVA is rejected then creditors will get less money anyway and that includes rapid vienna. Our name has been blackened but we will be considered a risk for years to come regardless of our approach to the football creditors. Uefa and Fifa can't interfere in the law of the land and since there is no football creditors rule, then the law says that creditors share the CVA pot. I don't see how we could pick and choose creditors to pay in full and still pass a CVA. Any way 75% of the debt held by the creditors have to agree and 50% of the creditors need to agree for the CVA to be passed. As I understand Ticketus and HMRC hold the 75% and we have hundreds of creditors, a few of them who would rely on our continued business in the years ahead. 0 Quote Link to post Share on other sites More sharing options...
kuznetsov 0 Posted June 12, 2012 Share Posted June 12, 2012 What a shambles. This is going to get messy. Our name will be mudd is so many places from now on. It will take years maybe longer to repair our reputation. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted June 12, 2012 Share Posted June 12, 2012 It's happened to us in the past so it's swings and roundabouts, sorry RV but shit happens. 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted June 12, 2012 Share Posted June 12, 2012 An odd stance from the Austrians. Yes, they want paid in full. No, under a CVA they're not going to be. But given the problems not paying would cause, it seems totally obvious that Rangers, newco or otherwise, would come across with the Euros sooner rather than later, following reconstruction. So why vote against, which will only delay any such payment? Bit odd. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,677 Posted June 12, 2012 Share Posted June 12, 2012 Almost all football clubs pay and sell their players in instalments (as well as other services as well). It's a risky process unfortunately and Rapid knew that as much as anyone else when they accepted the terms. 0 Quote Link to post Share on other sites More sharing options...
Gribz 956 Posted June 12, 2012 Share Posted June 12, 2012 Almost all football clubs pay and sell their players in instalments (as well as other services as well). It's a risky process unfortunately and Rapid knew that as much as anyone else when they accepted the terms. I think the bit that pisses them off the most is we received 5.5m from Everton. 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.