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#1 OFFLINE   V for Vendetta

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Posted 17 October 2012 - 01:35 PM

The old "Rangers are Dead" thread is history now. Its time to sit back and watch the slow lingering death of another bigotted scottish football club. Sevco or the The Rangers as they sometimes call themselves.

With Craig Whyte's return, Green's desperate search for more cash bound to fail and BDO just waiting to investigate the admin and possibly unwind the sale of assets I think it might be time

So I propose this new thread "Sevco are Dead".

http://www.bbc.co.uk...w-west-19976991

Edited by V for Vendetta, 17 October 2012 - 01:35 PM.

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#2 OFFLINE   Pudgie

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Posted 17 October 2012 - 01:54 PM

So how dodgy is Whyte's return?

Someone posted up 5 or 6 criteria that HMRC look for in a "Newco" and one of these was different people at the top. How much does this new revelation put that in jeopardy? This was the ONLY criteria that they met so could it be £95M debt for Newco?
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#3 ONLINE   muttonhumper

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Posted 17 October 2012 - 02:03 PM

So how dodgy is Whyte's return?

Someone posted up 5 or 6 criteria that HMRC look for in a "Newco" and one of these was different people at the top. How much does this new revelation put that in jeopardy? This was the ONLY criteria that they met so could it be £95M debt for Newco?

I put that up after getting a mail about it. Thus:

Rumours abound that HMRC is considering going after new-co for the old-co debts.

Apparently there are 6 criteria that can lead to HMRC considering this move:

1.Are the directors the same or is there evidence that the directors of the previous company are connected with those of the successor company, or involved in its management?
2.Is the successor company carrying on the same trade as the previous company?
3. Are the employees the same?
4.Is the trading or company name the same or similar?
5.Are the trading premises the same?
6. Did the successor company acquire assets from the previous company? 


Numbers 2-6 are definitely true, so if HMRC can prove a link between Green and Whyte, all bets could be off.


Now appears no.1 may be true also. :crossfingers:
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#4 ONLINE   tup

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Posted 17 October 2012 - 02:06 PM

It's as clear a case of contempt for the laws of the land as you'll see.

No other company would have made it this far, only widespread corruption in our society has seen it reach this stage.
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#5 OFFLINE   a1-don

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Posted 17 October 2012 - 03:07 PM

How long until The The Rangers appear?
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#6 OFFLINE   dj_bollocks

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Posted 17 October 2012 - 04:02 PM

How long until The The Rangers appear?


I hope the band of the same name sues them for infringement...
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#7 ONLINE   super_al

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Posted 17 October 2012 - 04:54 PM

How long until we have a club named "The The The The The Rangers" playing in div 3?
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#8 ONLINE   RUL

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Posted 17 October 2012 - 05:38 PM

I put that up after getting a mail about it. Thus:

Rumours abound that HMRC is considering going after new-co for the old-co debts.

Apparently there are 6 criteria that can lead to HMRC considering this move:

1.Are the directors the same or is there evidence that the directors of the previous company are connected with those of the successor company, or involved in its management?
2.Is the successor company carrying on the same trade as the previous company?
3. Are the employees the same?
4.Is the trading or company name the same or similar?
5.Are the trading premises the same?
6. Did the successor company acquire assets from the previous company? 


Numbers 2-6 are definitely true, so if HMRC can prove a link between Green and Whyte, all bets could be off.


Now appears no.1 may be true also. :crossfingers:


Call me thick here but quite clearly they are already in breach of these rules? They are still claiming oldco history for fuck sake? Why are they allowed to continue at all?
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#9 ONLINE   Ke1t

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Posted 17 October 2012 - 05:52 PM

Call me thick here but quite clearly they are already in breach of these rules? They are still claiming oldco history for fuck sake? Why are they allowed to continue at all?


That's the thing... they can claim all the old Rangers trophies and titles they want, but this Newco club didn't win a single one of them. All they did was buy them.

By THAT logic I can go on EBay and 'win' a fucking Iron Cross and call myself Hitler.

Posted Image

Edited by Ke1t, 17 October 2012 - 05:56 PM.

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#10 OFFLINE   caledonia

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Posted 17 October 2012 - 06:26 PM

That's the thing... they can claim all the old Rangers trophies and titles they want, but this Newco club didn't win a single one of them. All they did was buy them.

By THAT logic I can go on EBay and 'win' a fucking Iron Cross and call myself Hitler.

Posted Image


Or you could buy a Jim ill fix it badge and we can call you something else.
This oldco/newco/the the rangers/hmrc thing has been dragging on for so long now that its getting boring.
When will the off with their heads actually take place
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#11 OFFLINE   Highland-dandy

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Posted 17 October 2012 - 11:38 PM

Having a little read up about starting a newco and what flaws sevco have made and can see that what follows has not been carried out:


The company assets are valued
The insolvency practitioner will arrange for an independent valuation of the companies assets as a fare price needs to be paid for them, even if purchased by the phoenix company.

So werent these assets valued at almost 10times the price that they were bought for so there is no fair price there so in which breaches S423 Insolvency Act 1986.

So follow the letter of the law when BDO Start liquidation proceedings if there value of the assets shows the 5.5 million is indeed not a fair price the sale to chuckie will be immediately overturned

Please also remember the chuckle brothers are also to receive there fee from this figure if that is correct
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#12 OFFLINE   Red Dragon

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Posted 18 October 2012 - 06:22 AM

Having a little read up about starting a newco and what flaws sevco have made and can see that what follows has not been carried out:


The company assets are valued
The insolvency practitioner will arrange for an independent valuation of the companies assets as a fare price needs to be paid for them, even if purchased by the phoenix company.

So werent these assets valued at almost 10times the price that they were bought for so there is no fair price there so in which breaches S423 Insolvency Act 1986.

So follow the letter of the law when BDO Start liquidation proceedings if there value of the assets shows the 5.5 million is indeed not a fair price the sale to chuckie will be immediately overturned

Please also remember the chuckle brothers are also to receive there fee from this figure if that is correct


I don't think the value presented in the account itself presents a 'fair' value for the assets - likely to be inflated to make things look better than they are.

I'd expect the truth to lie somewhere in between.
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Counsel on behalf of RIFC argued that "Rangers are 1 of biggest brands in world"

to which Lord Tyre retorted " it didn't stop them being liquidated. LOL" 


#13 OFFLINE   Bamber

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Posted 18 October 2012 - 06:39 AM

Green himself is valuing rangers at £40 million so his 5.5 is a low bid they admi it themselves

Via the share issue they are trying to raise £20 million for 50% of the company so that is there valuation of the eorth

Not the 5.5illion they paid the 40 miilion they value themselves at
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#14 ONLINE   Roberto

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Posted 18 October 2012 - 08:55 AM

I'm watching this Craig Whyte interview and think he's squirming a little and covering up a hell of a lot to protect himself as he fears he could be killed.
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We love you, We love you, We love you...
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We follow, We follow, We follow...
'Cause we support
The Dandies, The Dandies, The Dandies...
And that's the way
We like it, We like it, We like it...

Oooohhhhwwwoooooaaaaoooaaaahhhhhhh.....
Oooohhhhwwwoooooaaaaoooaaaahhhhhhh.....

 


#15 ONLINE   muttonhumper

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Posted 18 October 2012 - 09:24 AM

Football life take on it...

blog


NewCo: What’s in Black and Whyte?

Firstly, just have to point out that this is post 100 on the blog. If you’re a newcomer or a latecomer, I’d always recommend that you have a look on the archive, as there’s lots of stuff on there to read and share.

You may possibly be able to guess what this post is about. The Whyte Knight is back in town, riding in as the 4th horseman of the apocalypse for Sevco.

Craig Whyte has spoken to the BBC and, in the halls of Ibrox and elsewhere, massive concerns have sprung up, particularly due to the reported assertion that Whyte has stated that he put Charles Green in place and introduced Duff and Phelps.

To be clear, Craig Whyte’s reputation is as black as the night in the right circles. I’ve been speaking to a friend of mine who works at a stock brokers in London and the merest mention of Whyte has sent those looking after the Rangers share issue into uproar.

Having spoken to people at the AIM, the understanding is now that BDO will be in liquidating OldCo before the end of next week and that “owing to serious past indiscretions” (namely not disclosing he was banned as a company director) should Whyte be shown to involved at Rangers in any way, shape or form, the Rangers share issue will not go ahead.

Furthermore, the feeling of my contact was that, without the share issue, Rangers are likely to be forced into administration within weeks and that, depending on exactly how much proof BDO find of a link to Craig Whyte in the paperwork, the sale to Sevco may be overturned.

The final point on that is the chap is actually a Rangers fan himself and, in his own words on the share issue, “For every £5 I’d spend on Rangers, Rangers would lose me a tenner”.

People in Scotland don’t want to see Rangers fans without a club to follow. What they do want is a club that is run by the fans, for the fans. A club that is built on fairness and anti-sectarianism. A club that is designed around a stable, long-term outlook.

That “Four Horsemen” Green Brigade banner from the last Old Firm match may need amending.

First there was Murray. Then there was Hector. Then there was Whyte.

When BDO come riding into town, the end is nigh. :crossfingers:
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#16 OFFLINE   Top Cat

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Posted 18 October 2012 - 09:30 AM

Furthermore, the feeling of my contact was that, without the share issue, Rangers are likely to be forced into administration within weeks




Surely they still would be regardless if that's the case? I thought that money from the share issue couldn't legally be used for running costs? Where do we punt them to if it happens again? The juniors?
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#17 OFFLINE   Pudgie

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Posted 18 October 2012 - 10:32 AM

Surely they still would be regardless if that's the case? I thought that money from the share issue couldn't legally be used for running costs? Where do we punt them to if it happens again? The juniors?

No, but the money from the share issue could be used for planned "furthering of the club" and the money that would have been used for that, could go to paying debts and creditors and wages etc.
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#18 ONLINE   ollie1903

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Posted 18 October 2012 - 11:26 AM

Surely they still would be regardless if that's the case? I thought that money from the share issue couldn't legally be used for running costs? Where do we punt them to if it happens again? The juniors?

That is a level above where they should have started this season.
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#19 OFFLINE   vanderark14

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Posted 18 October 2012 - 11:53 AM

http://www.paddypowe...tish-division-3

worth a punt on Peterheed or QP for the league?
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#20 OFFLINE   Henry

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Posted 18 October 2012 - 11:57 AM

People in Scotland don't want to see Rangers fans without a club to follow. What they do want is a club that is run by the fans, for the fans. A club that is built on fairness and anti-sectarianism. A club that is designed around a stable, long-term outlook.



Rangers fans already don't have a club to follow. They've changed clubs to follow the rangers.

I'd be delighted to see the rangers fans with no club to follow.



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#21 OFFLINE   Pudgie

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Posted 18 October 2012 - 11:58 AM

http://www.paddypowe..._grp_ids=753836

The field at 8/1 if I had to! :lolrangers:
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#22 OFFLINE   Henry

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Posted 18 October 2012 - 11:59 AM

I (along with others on here) have money on the rangers to win nothing this season Posted Image
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#23 ONLINE   muttonhumper

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Posted 18 October 2012 - 08:45 PM

Rangers fans already don't have a club to follow. They've changed clubs to follow the rangers.

I'd be delighted to see the rangers fans with no club to follow.

Amen to that.

As if this:
A club that is built on fairness and anti-sectarianism.
could ever fucking happen. :rolleyes:

:tumbleweed:
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#24 OFFLINE   fatshaft

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Posted 18 October 2012 - 08:56 PM

I (along with others on here) have money on the rangers to win nothing this season Posted Image

Aye, also on "the field" to win the league. I believe now that the season has started, and points deductions, or even liquidation of Sevco and the bet still stands, that exclusion was only pre-season. Fucking come on!!! :sheepdance:
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Posted ImagePosted Image


#25 OFFLINE   Bebo

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Posted 18 October 2012 - 09:21 PM

http://www.paddypower.com/football/uk-football/scottish-division-3?ev_oc_grp_ids=753836

The field at 8/1 if I had to! :lolrangers:


Got that at 12/1, as did quite a few on here. Though that was before they started signing players.
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#26 OFFLINE   fatshaft

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Posted 18 October 2012 - 10:17 PM

Got that at 12/1, as did quite a few on here. Though that was before they started signing players.

You sure? 12/1 was to win nothing, it was 6/1 the field to wint Div 3. At least that's what I have on my ticket.
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Posted ImagePosted Image


#27 OFFLINE   Bebo

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Posted 18 October 2012 - 10:18 PM

You sure? 12/1 was to win nothing, it was 6/1 the field to wint Div 3. At least that's what I have on my ticket.


Aye, just had a check, you're right. 12/1 to win nothing.
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#28 OFFLINE   vanderark14

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Posted 19 October 2012 - 11:33 AM

Sevco win their first honour

http://www.forres-ga...ox-19102012.htm
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#29 OFFLINE   Tommy

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Posted 19 October 2012 - 11:35 AM

Sevco win their first honour

http://www.forres-ga...ox-19102012.htm



"It’s the very first time we’ve ever played Forres competitively and as a club"


Errrrrrrr there's fuckin hunners you hinna played Jardine.
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#30 OFFLINE   vanderark14

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Posted 19 October 2012 - 11:36 AM

"It’s the very first time we’ve ever played Forres competitively and as a club"


Errrrrrrr there's fuckin hunners you hinna played Jardine.


I think the fact they have appointed that fucking spastic as their public relations officer is funny as fuck
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