http://scotlandonsunday.scotsman.com/football/Sale-of-Rangers-FC-39will.6650410.jp

 

Quote

Sale of Rangers FC 'will go ahead by mid-January'

 

Published Date: 05 December 2010

By Tom English

 

A DEAL to sell Rangers Football Club to Scots venture capitalist Craig Whyte will go though by the middle of January, according to senior sources at the club.

Whyte, 39, met with Ibrox chairman Alastair Johnston in Glasgow to discuss the purchase of Sir David Murray's shareholding in the club.

 

The proposed £33 million deal will wipe out the existing debt that has stymied Rangers in the transfer market for two years.

 

Yesterday, sources at Rangers said the deal, barring any late hitches, could be completed before Christmas but it is more likely that it will be done by the middle of January. "We can't say with 100 per cent certainty, but Whyte has the money and is very convincing. We think the deal will happen," said the source.

 

Murray has presided over Rangers for 22 years but has been keen to sell his stake for some time.

 

Hopefully the debt thing is not true as that is what is holding them back at the moment.

 

THe BbC arE BiasEED!!!

 

 

Spotty Hun git

Been dropped by the Scotland U21 squad for this weekends game

Rangers FC tax tribunal set to run to January

 

 

A tribunal dealing with an appeal by Rangers FC against a disputed tax bill and penalties totalling about £49m is set to continue into January.

 

The First Tier Tribunal in Edinburgh was expected to conclude on Wednesday. It has now been listed to take place on 16, 17 and 18 January 2012.

 

The disputed bill and penalties relates to Rangers' use of Employee Benefit Trusts to pay employees.

 

The club faces the prospect of administration if it loses this case.

 

Her Majesty's Revenue and Customs (HMRC) claims that £35m is owed by Rangers in unpaid tax with a further £14m due in interest and penalties.

 

HMRC has also had £2.8m of Rangers assets ring-fenced over a separate tax bill which the club is understood to be disputing.

 

Former board members Donald McIntyre and Martin Bain have also taken Rangers to court to freeze a total of £780,000 of assets pending the outcome of their damages claims.

Papers this morning suggesting it could be the end of the season before tax case is resolved.

Papers this morning suggesting it could be the end of the season before tax case is resolved.

 

Presumably the uncertainty will prevent them from making any significant signings until all this is sorted (not that this will effect us much, or indeed anything due to how utterly dung septic are)

Presumably the uncertainty will prevent them from making any significant signings until all this is sorted (not that this will effect us much, or indeed anything due to how utterly dung septic are)

 

This just in from our embedded correspondent at Murray Park, apparently they have had to take out a bridging loan of some sort and there will be significant departure/departures in January. Probably because all their available cash has been swallowed up by asset freezing of 3 mill.

 

Hopefully true.

This just in from our embedded correspondent at Murray Park, apparently they have had to take out a bridging loan of some sort and there will be significant departure/departures in January. Probably because all their available cash has been swallowed up by asset freezing of 3 mill.

 

Hopefully true.

 

Not selling Jelavic for £9m in the summer is looking pretty fucking foolish right now then.

Not selling Jelavic for £9m in the summer is looking pretty fucking foolish right now then.

 

Not selling Jelavic for £9m in the summer is looking pretty fucking foolish right now then.

 

 

It looked foolish back then too! 

This just in from our embedded correspondent at Murray Park, apparently they have had to take out a bridging loan of some sort and there will be significant departure/departures in January. Probably because all their available cash has been swallowed up by asset freezing of 3 mill.

 

Hopefully true.

 

I read about some form of loan they took out recently - it was the business equivalent of wonga.com I think? Fucked if I can mind the name of the company now, I think it began with a C?

 

And I thought there was serious scepticism over whether this 9m bid for Jelavic actually happened?

I read about some form of loan they took out recently - it was the business equivalent of wonga.com I think? Fucked if I can mind the name of the company now, I think it began with a C?

 

Conga.com?

:lolabove: :lolabove:

Its with Coutts I think, its not like wonga.com its the posh as fuck bank - now a subsidiary of RBS. Where else would a hun bank other than where the queen banks?

Close Finance was the one I was thinking of

Its with Coutts I think, its not like wonga.com its the posh as fuck bank - now a subsidiary of RBS. Where else would a hun bank other than where the queen banks?

 

So, still gonna want their readies back then.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-15820882

 

Get in the queue . . . . .

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-15820882

 

Get in the queue . . . . .

 

The parent company of Rangers - the Rangers FC Group Ltd - will not face court action over an allegation of an unpaid bill to Fyfe Ireland solicitors.

 

The Edinburgh based firm was due to raise a small claims action at Edinburgh Sheriff Court for an alleged unpaid sum, believed to be £1,260.

 

The action has now been dismissed after the matter was settled out of court.

 

It is believed that the matter has been settled to the satisfaction of Fyfe Ireland and the bill has been paid.

Another £500k gone:

 

http://scotslawthoughts.wordpress.com/2011/11/24/rangers-fc-yet-another-court-case-this-time-as-pursuers-but-still-not-good-news/

 

Rangers FC – Yet Another Court Case. This Time As Pursuers, But Still Not Good News

 

 

 

 

 

As I have often said, the Scottish Court Service court lists are a mine of information.

 

Today’s list shows an interesting case listed under the “Sist Warning List”.

 

 

 

SIST WARNING LIST

 

The sist in the undernoted case has expired.  Accordingly the case will be put out By Order in the near future.  Intimation should be given to the Keeper of the Rolls of any cause on the list which has settled:-

1 A32/11 The Rangers Football Club plc v CRE8 (Publishing) Ltd Dundas & Wilson CS

 

 

McClure Naismith

 

 

 

To explain quickly a “sist” is a suspension of a case. This can come about because both parties agree to it; because one party persuades the court that it is necessary; or at the instance of the Judge. A sist can be ordered because there needs to be time for further investigation, for negotiation or because there are other proceedings which might affect the outcome of the present case.

 

To avoid cases being sisted and going into what one Sheriff referred to as “outer darkness” cases which are sisted at the Court of Session are brought back to court after the sist has been in place for a period so that the court can check if the sist needs still to be in place, or if progress needs to be made with the case.

 

This action was raised early this year and first called in court in February.

 

The Rangers Football Club plc, incorporated under the Companies Acts (Co No.SC004276) and having its registered office at Ibrox Stadium, Glasgow AG CRE8 (Publishing) Ltd, incorporated under the Companies Acts (Co No. 06676057) and having its registered office at Fraser House, Wadham Close, Southrop, Lechlade

 

Dundas & Wilson were listed as solicitors for Rangers. As this was a pre takeover case, and as Mr Whyte seems to have dispensed with most, if not all, of those connected to the Murray Holdings era, one wonders if Rangers are still instructing D&W.

 

Unfortunately for Rangers, there seems to be little or no point in them pursuing the case.

 

As the Drum Magazine reported in May 2011 CRE8 (Publishing) Ltd had gone into liquidation. This company was printer of many football clubs’ programmes.

 

As the Drum reported, “Liquidation documents show Rangers owed almost £500,000, Celtic £400,000, Arsenal £270,000, West Ham £103,000 and Spurs £42,000.

 

“Celtic fans were urged in November last year to apply to Cre8 for subscription refunds when the club cancelled its contract with the publisher due to allegedly unpaid royalties. Rangers likewise cancelled its contract telling fans to “cancel any direct debit payment with immediate effect”.

 

“The collapse comes just three years after the group’s predecessor company Cre8 UK collapsed owing creditors including Birmingham City and Watford more than £2.1m.”

 

As the company is in liquidation, it looks as if there will be no point in Rangers continuing to pursue the action. Accordingly, the sum of £500,000 in their accounts as a debtor will need to be written off – thus denting the profit and loss account and balance sheet further.

 

As the case would seem to have little value to pursue, one wonders if Dundas and Wilson have any money due to be paid to them, or if they will have to join Levy & McRae and Fyfe Ireland in taking Rangers to court. Surely not!

 

It is interesting that, in November, Rangers prudently told fans to cancel Direct Debits to a company whose financial existence was in great peril. I am sure that no one would consider giving the same advice to Rangers fans as regards their own team.

 

 

Huns are being investigated by the Stock Exchange for failing to disclose Whyte's previous directorship ban and could be fined £100,000 as a result.

 

It's not clear yet if Sone Aluko will be able to stretch his savings this far.

 

It's not clear yet if Sone Aluko will be able to stretch his savings this far.

 

 

Well he certainly canna stretch his hamstrings!

Huns are being investigated by the Stock Exchange for failing to disclose Whyte's previous directorship ban and could be fined £100,000 as a result.

 

It's not clear yet if Sone Aluko will be able to stretch his savings this far.

 

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-15976000

 

Does this mean the boycott's off? Will he still sue? 

BBC Scotland has learned the SFA are investigating whether or not Craig Whyte falls into their fit and proper person guidelines