Larky Masher Posted November 17, 2014 Share Posted November 17, 2014 Probably able to rescind the contract and claim damages and probably anyone who bought shares would be able to do this as well. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted November 17, 2014 Share Posted November 17, 2014 Probably able to rescind the contract and claim damages and probably anyone who bought shares would be able to do this as well.The business and assets were bought from the company in administration. I seriously doubt the liquidators (who now control the company) would try to rescind that deal. It would be way more cost than it's worth to creditors and would devalue the business and assets that they would ultimately be trying to resell. Plus they would have to pay the purchase price back - money they don't have. Your damages are only as good as your loss. Very hard to see what loss shareholders have suffered caused by an alleged fraud in relation to the purchase of the business. Of course it's impossible to properly comment on the issue when the exact nature of the fraud is unknown. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted November 17, 2014 Share Posted November 17, 2014 (edited) New report from bdo reveals, amongst other things, that the old co settled their claim with collyer Bristow for £24m! http://www.bdo.co.uk/__data/assets/pdf_file/0009/879165/Rangers-Creditors-Circ-13-November-2014.pdf Edited November 17, 2014 by bruce778 Quote Link to comment Share on other sites More sharing options...
Fairbairn Posted November 17, 2014 Share Posted November 17, 2014 New report from bdo reveals, amongst other things, that the old co settled their claim with collyer Bristow for £24m! http://www.bdo.co.uk/__data/assets/pdf_file/0009/879165/Rangers-Creditors-Circ-13-November-2014.pdf I assume that money then gets filtered down to creditors (after costs etc?). Quote Link to comment Share on other sites More sharing options...
bruce778 Posted November 17, 2014 Share Posted November 17, 2014 (edited) I assume that money then gets filtered down to creditors (after costs etc?).Yes, the report discusses an interim dividend to creditors. Of course four or five law firms and the liquidators are milking it for all its worth.If you put to one side professional fees, if rangers old co doesn't lose the big tax case then that is approximately £70m of debt wiped from the total amount of debt, which I seem to recall was about £120m in total. So once you take into account the settlement funds, in theory (still not taking into account professional costs) creditors could get roughly a 50p in the pound dividend. As an aside, Interesting to see the breakdown of money to be received from the jelavic sale by Everton to hull. Essentially explains how the deal between Everton and hull is structured. Edited November 17, 2014 by bruce778 Quote Link to comment Share on other sites More sharing options...
EddardStark Posted November 17, 2014 Share Posted November 17, 2014 According to BDO. Trade Creditors - 7m, Football Creditors 4m and paid. , HMRC 22m. Yet liquidation followed. That's very strange. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted November 17, 2014 Share Posted November 17, 2014 According to BDO. Trade Creditors - 7m, Football Creditors 4m and paid. , HMRC 22m. Yet liquidation followed. That's very strange. BDO report a lot more than that - see appendix. 1 of their report. Quote Link to comment Share on other sites More sharing options...
Fred_Zeppelin Posted November 17, 2014 Share Posted November 17, 2014 Deid yet? Quote Link to comment Share on other sites More sharing options...
Kenneth Farrington Posted November 17, 2014 Share Posted November 17, 2014 Deid yet? Underworld Division Champions. Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted November 17, 2014 Share Posted November 17, 2014 Deid yet? Showing more signs of life than your brain. Quote Link to comment Share on other sites More sharing options...
EddardStark Posted November 17, 2014 Share Posted November 17, 2014 All four charged with fraud and bailed. Quote Link to comment Share on other sites More sharing options...
EddardStark Posted November 17, 2014 Share Posted November 17, 2014 Grier,Clark and Whitehouse also charged with attempting to pervert the course of justice Quote Link to comment Share on other sites More sharing options...
Big Col Posted November 17, 2014 Share Posted November 17, 2014 has the fugitive been located yet? Quote Link to comment Share on other sites More sharing options...
macy37 Posted November 17, 2014 Share Posted November 17, 2014 (edited) Masher rises to the bait each and every time. You would think he would have managed to spot the fishermen in the long long saga. Edited November 17, 2014 by macy37 Quote Link to comment Share on other sites More sharing options...
Redz Posted November 17, 2014 Share Posted November 17, 2014 Masher rises to the bait each and every time. You would think he would have managed to spot the fishermen in the long long saga. 'Oldsag' and 'Newsag' will only add to their confusion though Quote Link to comment Share on other sites More sharing options...
Kenneth Farrington Posted November 17, 2014 Share Posted November 17, 2014 has the fugitive been located yet? That picture never fails to crack me up. Seems like only yesterday Lafferty was scoring against Hearts, then the camera zoomed in on Whyte nodding in approval & we were warned "there's a new sheriff in town" ha ha ha ha! Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted November 17, 2014 Share Posted November 17, 2014 Masher rises to the bait each and every time. You would think he would have managed to spot the fishermen in the long long saga. Fisherman, aye that's what you are. Quote Link to comment Share on other sites More sharing options...
TartanJon Posted November 17, 2014 Share Posted November 17, 2014 http://www.thecoplandroad.org/2012/10/craig-whyte-speaks-to-fans.html?m=1 Quote Link to comment Share on other sites More sharing options...
Redz Posted November 17, 2014 Share Posted November 17, 2014 http://www.thecoplandroad.org/2012/10/craig-whyte-speaks-to-fans.html?m=1 More like Bill McMurdo speaks to the fans.......... Quote Link to comment Share on other sites More sharing options...
sbcmfc Posted November 17, 2014 Share Posted November 17, 2014 has the fugitive been located yet? Quote Link to comment Share on other sites More sharing options...
Capital Saint Posted November 17, 2014 Share Posted November 17, 2014 If you are saying it's because Rangers used money they did not "have", ie they used debt, to employ players they could not afford, then the same accusation could be levelled against every Scottish team that has won a trophy for the last three decades. St Johnstone won the Challenge cup and The Scottish Cup with a bank balance in the black. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted November 17, 2014 Share Posted November 17, 2014 St Johnstone won the Challenge cup and The Scottish Cup with a bank balance in the black. And they won no other trophies in the last 30 years while in debt? Quote Link to comment Share on other sites More sharing options...
Scotty CTA Posted November 18, 2014 Share Posted November 18, 2014 has the fugitive been located yet? On the run, and out to prove his innocence, we'll have to wait till the final episode till he finally catches up to the legless man. And they won no other trophies in the last 30 years while in debt? They would have had more success had other clubs cut their cloth accordingly. (That was the unjust penalty they received for being financially responsible.) Rangers, however, received just retribution by being liquidated. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted November 18, 2014 Share Posted November 18, 2014 On the run, and out to prove his innocence, we'll have to wait till the final episode till he finally catches up to the legless man. They would have had more success had other clubs cut their cloth accordingly. (That was the unjust penalty they received for being financially responsible.) Rangers, however, received just retribution by being liquidated. Legless man? Quote Link to comment Share on other sites More sharing options...
Baron Obtuse Posted November 18, 2014 Share Posted November 18, 2014 Pretty sure that's a reference to The Fugitive Quote Link to comment Share on other sites More sharing options...
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