buster. 5,185 Posted May 15, 2014 Share Posted May 15, 2014 0 Quote Link to post Share on other sites More sharing options...
jhunter 0 Posted May 15, 2014 Share Posted May 15, 2014 oh dear 0 Quote Link to post Share on other sites More sharing options...
buster. 5,185 Posted May 15, 2014 Share Posted May 15, 2014 oh dear Sometimes it's best to read the story and any quotes before reading too much into the headline but it doesn't sound good or for that matter, unsurprising. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,624 Posted May 16, 2014 Share Posted May 16, 2014 Is Wallace being overruled by Easdale? 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted May 16, 2014 Share Posted May 16, 2014 Is Wallace being overruled by Easdale? K Jackson was hinting at that last night. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,624 Posted May 16, 2014 Share Posted May 16, 2014 The comment on FF about Suck being in bed with Stockbridge at the bottom of the page made me laugh. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted May 16, 2014 Share Posted May 16, 2014 it reeks of mather bringing king in to invest all over again. 0 Quote Link to post Share on other sites More sharing options...
Mountain Bear 0 Posted May 16, 2014 Share Posted May 16, 2014 I've just caught up on today's posts so apologies if I have missed anyone answering a question I posed last night and I'd like to add a couple more; let's just say I'm playing devils advocate for a minute: If the Board were to agree to give a legally binding agreement not to grant a charge over Ibrox and/or Murray Park to whom or what would such an agreement be granted? I may well be wrong but I don't think they can simply register such a document unless it is in favour of some entity. So far as I am aware, the UoF is not a legal entity and neither is the SoS. Given the distrust between them and Mr King would they give such a commitment to a company controlled by him? Would they give it to the RST as some kind of proxy for the UoF/SoS (considering that all three use the same address)? Could such an undertaking be given to a named fan(s) as proxy for all Rangers fans or indeed to an un-named reasonable Rangers fan if there is such a thing, rather like the man on the no. 9 Clapham omnibus, or the man on the Glasgow Underground? Would any such undertaking have any legal standing? Supposing the Board gave such an undertaking and then chose to ignore it, saying circumstances have changed, we need a big loan (for example, to cover the shortfall in income due to large numbers of supporters paying game to game) and have to use one or other of our main assets as security. What remedy might be available to the UoF or whoever is the recipient of the undertaking? What loss might they be said to have incurred? Some have already questioned the standing of such an undertaking in the event of an insolvency event but what about a new or substantially new Board? Let's say that there were to be changes on the Board, however they might arise, and the "new" Board says we're not bound by that ridiculous agreement, in our opinion it is in the best interests of the company to sell and lease back Murray Park and that's what we are going to do. Again what loss could any possible claimants establish and what remedies might be available to them? Any lawyers in the house? I'm no lawyer, but I had to study business law many moons ago; 1. We'd be talking about contract law here, so you're right that the parties have to be legal entities, which includes individuals. Any contract has to have some form consideration (usually, but not always, financial) that the parties agree, so whoever represents the UoF side would have to commit to do something in return for the Board's undertaking. That might be as simple as issuing a positive statement about the purchase of season tickets. 2. / 3. Breach of contract would be a civil matter. I agree with Bluedell that the composition of the Board isn't an issue here; they would be entering into a commitment on behalf of the legal entity. I would have thought that the most useful remedy available to the UoF would be to apply for an injunction to prevent any sale in the first place, but compensation to restore the previous situation would be a possibility. Sent from my iPhone using Tapatalk 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,721 Posted May 16, 2014 Share Posted May 16, 2014 Rangers fans urged not to buy season tickets as board stalls on deal to safeguard Murray Park and Ibrox THE Sons of Struth fan group has revealed to Record Sport that there has been no further contact with the board and has urged fans not to be 'spooked' into renewing their season tickets. RANGERS fans were last night urged not to hand over season-ticket cash today after the board stalled on a deal to safeguard the future of Ibrox and Murray Park. Record Sport told yesterday how the embattled regime had held urgent talks with supporters’ chiefs in an attempt to win their trust ahead of today’s renewal deadline. The emergency peace talks were scrambled after fewer than 5000 punters opted to secure their seats. And leading representatives from the Union of Fans coalition group believed chief executive Graham Wallace was on the verge of agreeing to hand over legally-bound assurances that neither the stadium nor the club’s Auchenhowie training HQ would be used to raise cash to cover any shortfall. But last night Craig Houston of the Sons of Struth revealed to Record Sport that there had been no further contact with the board. He said: “It is with a deep sense of disappointment that I can confirm there has been no further movement. “At present we have no agreement with the board and, for this reason, we cannot endorse the buying of season tickets. “We would suggest that the fans hold back until such times as we have a firm agreement on the proposals. “We expected the board to act with some sort of urgency. But we have heard nothing. “I just hope that the fans don’t get spooked into renewing at the last minute.” The board reached out to Houston and the Union of Fans late last Friday when renewals were fewer than 4000 – with not enough cash raised to repay loans of £1.5million made to the club in February by wealthy fan George Letham and director Sandy Easdale. Those loans were secured against the stadium car park and Edmiston House. But, amidst fears of another financial meltdown, the Union of Fans demanded that no such deals would be struck against Ibrox or Murray Park. On Wednesday Wallace offered a legal guarantee protecting Ibrox but when asked to deliver a similar promise over the training base he insisted he would have to put that request to the board for approval. It isn’t known if a deadline was given for the handing over of the legal documents other than the implicit understanding that the deadline for season-ticket renewals was today. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,721 Posted May 16, 2014 Share Posted May 16, 2014 Thread on FF saying Chris Graham is to be on Radio Scotland this morning, around 08:40 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.