Frankie 8,662 Posted January 12, 2016 Share Posted January 12, 2016 http://news.stv.tv/west-central/1338780-rangers-wi-fi-providers-bid-to-ring-fence-300000-over-unpaid-bill/ Rangers' Wi-Fi providers are seeking to have £300,000 arrested from the club's bank accounts in a dispute over an unpaid bill. IT firm, 802 Works Limited, is pursuing the Ibrox side over non-payment of bills. A sheriff granted an arrestment warrant for £300,000 against Rangers on December 31. At Glasgow Sheriff Court on Tuesday, a hearing was held to argue if the cash should remain ring-fenced. Counsel for 802 Works, which began providing Wi-Fi at Ibrox in 2013, argued it wants the money arrested from Rangers' bank accounts in case the club goes insolvent before the dispute is resolved in court. He said he believed the legal dispute would not be concluded before the middle of next season and wanted the cash set aside in the meantime. The lawyer for 802 Works told sheriff Ian Miller: "The company (Rangers) cannot pay this of its own accord as it is operating at a loss. It has to come from somewhere else." He told the court that Rangers are "entirely reliant on somebody else funding" any payment if the club are told to pay up the £300,000 being sought by the IT firm. However, counsel for Rangers argued that the its financial position is improving, lenders are in place and that there is no prospect of insolvency. Sheriff Ian Miller will rule on Friday morning whether the cash should be arrested from Rangers while the legal dispute continues. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted January 12, 2016 Share Posted January 12, 2016 From the crowdfunded court reporter: A company in dispute with Rangers is asking for £300,000 to be arrested by a Sherriff as it is concerned the club might go bust, a court heard today. Counsel for 802 Works Ltd, which is currently suing for what it claims are unpaid bills relating to the installation of a WiFi system at Ibrox, told the court that no company can “sustain a loss of £7m-£8m per annum indefinitely,” and claimed that Rangers could go into liquidation before their claim for the cash was decided, which would not be until 2017. However the advocate representing the club, Mr Wilson, told the court there was “no prospect of insolvency,” and presented financial figures from June to December 2015 which he said showed that the clubs trading position had “improved dramatically in the last 6 months.” He also stated that the Ibrox club had not paid the £300k bill as the WiFi system had “never reached the level agreed,” adding that the Club’s position was that 802 Works was “not entitled to payment until the issue was resolved. Responding for the pursuers solicitor advocate Simon Catto presented the agreement between the club and 802 Works which said the capacity agreed for the stadium WiFi was 10,000 users at any one time as there was no assumption that everyone in the football ground would be online at the same time. He also told the court that the system had ceased to work in November not because of any action by his client, but instead because the internet service provider, Virgin Media were not being paid. “There was no notice of problems until payment was asked for,” he added. Mr Wilson, for RFC closed his case by noting the £300k represented only 2% of Rangers’ annual turnover and the club were disputing the bill as “what was specified was not what was delivered.” Catto responded that while the club had £47M in assets, consisting of the stadium, training ground, brand and players “none of that can be turned into cash,” while the business was still operating. Sheriff Miller ended the hearing by thanking both advocates for their submissions and said he would deliver a judgment on Friday morning (15 January) Court then rose. Share this: 0 Quote Link to post Share on other sites More sharing options...
buster. 5,257 Posted January 12, 2016 Share Posted January 12, 2016 (edited) Would it be verging on paranoia to consider the timing of this bid might have been in part influenced from outwith 802 Works Ltd. (ie. by MrMASH) ? Note I don't know for how long this hearing had been pending. Edited January 12, 2016 by buster. 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted January 12, 2016 Share Posted January 12, 2016 802 Works Limited. All directors from Coatbridge. Hmmmmmmmmmmmmm. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,740 Posted January 12, 2016 Share Posted January 12, 2016 Anything to do with the fact the Wi-Fi hasn't been great 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted January 12, 2016 Share Posted January 12, 2016 The kick backs on this deal would be interesting to see 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted January 12, 2016 Share Posted January 12, 2016 While the Sheriff will deliver his ruling on Friday The Herald makes up it's own mind: [tweet]686928522410115072[/tweet] 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,679 Posted January 12, 2016 Share Posted January 12, 2016 802 Works Limited. All directors from Coatbridge. Hmmmmmmmmmmmmm. All one of them. 0 Quote Link to post Share on other sites More sharing options...
compo 7,215 Posted January 12, 2016 Share Posted January 12, 2016 I would have thought the new board would have had everything under control financial wise how has it taken so long for this to surface 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted January 12, 2016 Share Posted January 12, 2016 All one of them. Do some digging bd. Only one director now. Look at associates. 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.