calscot 0 Posted June 26, 2012 Share Posted June 26, 2012 To prevent another newco situation any time in the future could we set up two companies (a bit like Celtic)? One runs the team and has the SPL share when this is regained and the other runs the rest of the business and basically hires the team to play at Ibrox. A bit like a theatre and a permanent show - like Cats. That way if the parent company goes bust the football club part stays intact and probably just becomes a creditor. It would probably need a cash reserve to pay players wages for a certain amount of time if the worst happens. Not sure about all the ins and outs of business but it sounds workable to a layman. In fact if it's plausible you have to wonder why Whyte didn't do this before he went for the melt down strategy. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 26, 2012 Share Posted June 26, 2012 good point. 0 Quote Link to post Share on other sites More sharing options...
UCF2008 0 Posted June 26, 2012 Share Posted June 26, 2012 Don't think Whyte (or in that case the club) could have got away with this level of corporate restructure in the lead up to an insolvency event. Think it would be seen as Gratuitous Alienation. For that sort of restructuring to offer any level of protection, I think we'd have to be on a firm enough financial footing to guarantee against insolvency for a period of at least five years. Could be wrong, but that was my understanding of it from when the legality of Miller's newco plan was being discussed. 0 Quote Link to post Share on other sites More sharing options...
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