UCF2008 0 Posted July 3, 2012 Share Posted July 3, 2012 We went newco and walked away from crippling debt we can't just show up in August and expect to start as if nothing happened. Any club who goes into administration is doing so due to crippling debt. CVA and Newco are both methods of exiting administration while walking away from the majority of said debt. What pence in the pound arrangement did Dundee, Motherwell and Livi make with their creditors while receiving no punishment whatsoever? 0 Quote Link to post Share on other sites More sharing options...
Tannochsidebear 2,429 Posted July 3, 2012 Share Posted July 3, 2012 Regain has to walk. How many shambolic episodes must he be responsible for before he is brought to account. When you compare the constant pressure Gordon Smith was under in that role compared to the way Regan is reported, it is truly staggering. Our media is rotten to the core. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted July 3, 2012 Share Posted July 3, 2012 Any club who goes into administration is doing so due to crippling debt. CVA and Newco are both methods of exiting administration while walking away from the majority of said debt. What pence in the pound arrangement did Dundee, Motherwell and Livi make with their creditors while receiving no punishment whatsoever? Not enough punishment mate, but if you don't make it really uncomfortable for clubs to go down the newco/cva route then what's to stop any team from doing it just to dodge their debt. 0 Quote Link to post Share on other sites More sharing options...
UCF2008 0 Posted July 3, 2012 Share Posted July 3, 2012 Not enough punishment mate, but if you don't make it really uncomfortable for clubs to go down the newco/cva route then what's to stop any team from doing it just to dodge their debt. The agreed 10pt penalty within the SPL rules seemed to be acceptable up until the point we entered admin. England have similar penalties. Leeds got deducted 10pts for going into admin and a further 15pts for not exiting via CVA. The main problem I can see with talk of changing the rules at this point in time to make it more of a deterrent is that it's simply not the real reason. You'll find that out when the next club that goes into admin is let off lightly due to it all being big bad Rangers fault. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted July 3, 2012 Share Posted July 3, 2012 The agreed 10pt penalty within the SPL rules seemed to be acceptable up until the point we entered admin. England have similar penalties. Leeds got deducted 10pts for going into admin and a further 15pts for not exiting via CVA. The main problem I can see with talk of changing the rules at this point in time to make it more of a deterrent is that it's simply not the real reason. You'll find that out when the next club that goes into admin is let off lightly due to it all being big bad Rangers fault. It's already being talked about with the amnesty for clubs caught up in the Rangers fall out. 0 Quote Link to post Share on other sites More sharing options...
54andcounting 0 Posted July 3, 2012 Share Posted July 3, 2012 Motherwell,Dundee,Gretna and Livingston have all been mentioned in the same breath as Rangers...now Leeds Utd are being brought into it. All because Rangers are being punished MORE than them. Anyone on here know how much debt these other clubs incurred compared to Rangers? I bet our debt was more than the rest combined. 0 Quote Link to post Share on other sites More sharing options...
Blue Moon 1,370 Posted July 3, 2012 Share Posted July 3, 2012 That could be because we are bigger than them all combined. Don't forget before Whyte we were paying off the debt and an arrangement had been made with HMRC to pay the small tax case. 0 Quote Link to post Share on other sites More sharing options...
54andcounting 0 Posted July 3, 2012 Share Posted July 3, 2012 That could be because we are bigger than them all combined. Don't forget before Whyte we were paying off the debt and an arrangement had been made with HMRC to pay the small tax case. Not sure if being 'bigger' than all the rest gives us a reason to have a 'bigger' debt? If so then - the 'bigger' punishment can't be argued with....yes? 0 Quote Link to post Share on other sites More sharing options...
Blue Moon 1,370 Posted July 3, 2012 Share Posted July 3, 2012 Agree, on that principle but within the existing rules. We were given the maximum fine possible and the illegal transfer ban. 0 Quote Link to post Share on other sites More sharing options...
UCF2008 0 Posted July 3, 2012 Share Posted July 3, 2012 Motherwell,Dundee,Gretna and Livingston have all been mentioned in the same breath as Rangers...now Leeds Utd are being brought into it. All because Rangers are being punished MORE than them. Anyone on here know how much debt these other clubs incurred compared to Rangers? I bet our debt was more than the rest combined. Apples and oranges. Try working it out as % debt compared to turnover or valuation of the business and it's assets. THAT would give you a fair assessment. Can Tesco's handle a larger amount of debt than your local corner shop? Of course they can. When that level of debt begins to escalate beyond the means of the club to make repayments then that's when administration beckons. It's not rocket science you know. 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.