Grier, Withey, Whitehouse & Clark detained in RFC acquisition enquiry

[der Berliner 3,743]

Assuming the 24m can be raked in by BDO from Collier Bristow, what would the oldco's debt actually be like?

[aweebluesoandso 290]

It's a complicated situation, but if oldco was taken out of liquidation and an illegal takeover confirmed, if somehow the club fell under the governance of oldco again, the HMRC ongoing appeal, if won, could have greater consequences than has been generally anticipated.

 

I'm not stating facts here - just speculating on the various possibilities that could come into play.

 

Then surely MIH would take the bite for that as they ran the EBT scheme?

[Hildy 0]

Then surely MIH would take the bite for that as they ran the EBT scheme?

I don't think we can make that assumption. I would like to think so, but the situation is so messy, it's difficult to be sure of anything.

[RANGERRAB 3,653]

The liquidation process - was it ever concluded?

 

LOL. It's nowhere near conclusion and would even be a decade away or more.

When the old Airdrie FC went out of business in 2002 it took ten years to finally wind up their oldco

(Airdrie Utd emerged as a result of a few businessman buying the old Clydebank FC and renaming it as the experts will tell you on here)

[Hildy 0]

LOL. It's nowhere near conclusion and would even be a decade away or more.

When the old Airdrie FC went out of business in 2002 it took ten years to finally wind up their oldco

(Airdrie Utd emerged as a result of a few businessman buying the old Clydebank FC and renaming it as the experts will tell you on here)

The 'United' part has recently been dropped.

[Calgacus 8]

Basing a bid partly on getting to the later stages of the CL was rather comical.

 

It was hardly any worse than the bid the administrators accepted from Green - they gave him the SPL Prize Money (which Green then managed to lose, but that's another story). The champions leagues stuff was just one minor element in it, an element which the toxic PR machine spun like mad

[der Berliner 3,743]

The 'United' part has recently been dropped.

 

... and the old name "Airdrieonians" is being used since. I take it the Clydebank FC fans were really happy seeing their own club being raped, violated and essentially extinguished ...

[Calgacus 8]

It's a complicated situation, but if oldco was taken out of liquidation and an illegal takeover confirmed, if somehow the club fell under the governance of oldco again, the HMRC ongoing appeal, if won, could have greater consequences than has been generally anticipated.

 

I'm not stating facts here - just speculating on the various possibilities that could come into play.

 

Even if fraud is proved, it changes nothing, the debts that brought about administration and liquidation were due to innocent third parties.. The liquidation can't be reversed, unless someone is willing to pump in a huge amount of money to pay off the debts and expenses.

[Hildy 0]

Even if fraud is proved, it changes nothing, the debts that brought about administration and liquidation were due to innocent third parties.. The liquidation can't be reversed, unless someone is willing to pump in a huge amount of money to pay off the debts and expenses.

So even if the liquidation process occurred as a result of a criminal takeover, it will eventually conclude and the oldco will cease to exist?

[Frankie 8,562]

From today's press conference:

 

Ally McCoist said: "Obviously I can't or wouldn't comment on a current police matter, but I would have to say I'm shocked."