forlanssister 3,097 Posted October 20, 2012 Share Posted October 20, 2012 Perhaps Mr Naqvi has asked Mr Green to ride someone else's coattails. All this confusion and speculation about who actually owns us could have been put to bed had Green kept his promise to give a full list of investors "next week" months back. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted October 20, 2012 Share Posted October 20, 2012 It seems there's quite a few buttons labelled "automatic club statement" being pressed..... 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,097 Posted October 21, 2012 Share Posted October 21, 2012 It seems there's quite a few buttons labelled "automatic club statement" being pressed..... Operation "Make sure you get the money in". 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,553 Posted October 21, 2012 Share Posted October 21, 2012 and if It transpires the sale was illegal? The trade and assets have been sold by the administrators and that is the end of the transaction. If the administrators did something wrong then they would be liable financially but nobody can wind back after this amount of time. There's no risk that it will impact the club. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 21, 2012 Share Posted October 21, 2012 The trade and assets have been sold by the administrators and that is the end of the transaction. If the administrators did something wrong then they would be liable financially but nobody can wind back after this amount of time. There's no risk that it will impact the club. while I agree their is no chance, is that what the law says because I think I saw it said a while back that sales can be wound back. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,553 Posted October 21, 2012 Share Posted October 21, 2012 while I agree their is no chance, is that what the law says because I think I saw it said a while back that sales can be wound back. It could happen in certain cases where, for example, the seller didn't have the right to sell the assets, and where the issue was identified very quickly. We are now a number of months past the completion of the transaction and nobody is claiming that the sale was illegal. If someone claimed it now, they would e laughed out of court. I don't think anyone is disputing that the administrators had the right to sell the assets so that is not an issue either. If it was found out that D&P could have earned more for the creditors then that is an issue that would be taken up with them rather than us. If Green did something illegal then it would be him that would be answerable, not the club. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,660 Posted October 21, 2012 Share Posted October 21, 2012 so why let us think for months it was naqvi. and its interesting to note that their has been so much speculation that green needs to comment yet the BBC didn't ask whyte about it. hmmmmmmm. While we all want to know everything, if possible yesterday, do we "have to"? Certain business information will be made public or known to certain people because of certain circumstances. That is what I would normally expect. That some take a deeper interest in our business affairs, not least now, is understandable, but does not change the aforementioned procedures. That will obviously not stop people from speculating in the meantime, but that is essentially their "problem". It was pretty clear that Green would only give what I would call "confidental" information to those who should have access to it - i.e. partners, investors, SFA, SFL et al. It was going to be clearer to "all" once the share issue is about or an annual report is on the agenda. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted October 21, 2012 Share Posted October 21, 2012 It could happen in certain cases where, for example, the seller didn't have the right to sell the assets, and where the issue was identified very quickly. We are now a number of months past the completion of the transaction and nobody is claiming that the sale was illegal. If someone claimed it now, they would e laughed out of court. I don't think anyone is disputing that the administrators had the right to sell the assets so that is not an issue either. If it was found out that D&P could have earned more for the creditors then that is an issue that would be taken up with them rather than us. If Green did something illegal then it would be him that would be answerable, not the club. Sounds right, I did find it strange a business which has been running for months and employing a load of people could be wiped out just like that. BDO have had to wait to take over but am I right in thinking if there was such huge concern over the sale to Green they could have at least tried to get a court order to stop it? Nothing like the happened as far as we know anyway. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,097 Posted October 22, 2012 Share Posted October 22, 2012 For those not behind the paywall. The Times article which prompted Greens' statement re ownership. Rangers reveal who rode to their rescue Alex Ralph Published at 12:01AM, October 19 2012 Rangers Football Club has bowed to pressure from wary supporters and released details of its biggest investors, four months after the club was bought out of liquidation. The largest shareholder is the Dubai businessman Arif Naqvi, chief executive of Abraaj Capital, a private equity firm, who holds 4 million of the 25.5 million shares through a vehicle called Blue Pitch Holdings, according to a shareholder list issued to The Times by Rangers. A fund called Margarita Funds Holding Trust, thought by Rangers to be based in the Turks and Caicos Islands, has the second biggest stake, with 2.6 million shares. Zeus Capital, a finance company, has the largest stake if the shares of three individual investors are accumulated. Mike Ashley, owner of Newcastle United and the retailer Sports Direct, has now been cleared by the Scottish Football Association to take a £1 million stake in Rangers, though his application has not yet been finalised. Charles Green, a venture capitalist and chief executive of Rangers, headed the consortium of about 19 investors that bought the clubâ??s assets for £5.5 million in June. Rangers had fallen into administration in February, saddled with huge debts built up by its two previous owners. Mr Green, who was appointed chief executive of Sheffield United when the club was floated via a reverse takeover in 1996, was unable to prevent Rangers from being expelled to the fourth division. He said last week in an interview with The Times, when he announced plans to raise £20 million by floating Rangers on AIM, that the new owners were â??hatedâ? by supporters when he first emerged. That opposition intensified when Mr Green refused to identify who the investors were. â??When I first appeared on the scene ... I had to have police protection. The fans hated us because they didnâ??t know who we were. They thought we were Craig Whyteâ??s [the previous owner] assistants trying to sneak the club back through the back door.â? The shareholder list is not definitive. Imran Ahmad, the commercial director who owns 2.2 million shares, said that five investors were reluctant to be put into the public eye. Rangers supportersâ?? groups welcomed the disclosure but called on the club to disclose all the investors. Ally McCoist, the manager, who has one million shares, said last week that the fans now had â??100 per centâ? trust in the new owners. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted October 22, 2012 Share Posted October 22, 2012 For those not behind the paywall. The Times article which prompted Greens' statement re ownership. Unlikely to stop the conspiracies since names can be used as fronts etc, which is why I find the whole discussion about Whyte being involved boring, can it ever actually be proven beyond all doubt? Folk need to decide for themselves, I know I have. 0 Quote Link to post Share on other sites More sharing options...
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