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Rangers 2011/2012.

Deareg said:
Don't thank Fed, thank your accountant for freeing up the money to buy players instead of paying your taxes.
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Still to be proved we never paid out taxes. Maybe there will be a look into how much money torbett fc saved during the building of the san giro, when gdc gave them land for a £1.
 
David Cowan ‏ @stvdavidc Judge has declined to give #rangers administrators legal guidance on how they could terminate the ticketus contract.
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So the Ticketus deal stands, any bidders know they owe £24.4 million to Ticketus alone if they take the club on
 
Fedayn said:
So the Ticketus deal stands, any bidders know they owe £24.4 million to Ticketus alone if they take the club on
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Its a bit more complex:

A judge has declined to rule on whether Rangers can rip up a £24.4m season-ticket deal with Ticketus.
Administrators Duff and Phelps wanted to tear up the agreement on the basis it could discourage bidders who may want to take over the club.
After a five-day hearing at the Court of Session, Lord Hodge said he did not have enough information about bids for Rangers to make a ruling.
However, he declined to give Ticketus preferential treatment as creditors.
The judge said Ticketus had no security over the assets of Rangers and was a simple creditor with the same rights as others owed money by the club.

-----

One of the bidders to take over Rangers is the Blue Knights consortium, led by Paul Murray, which includes Ticketus.
After the verdict, a statement from Ticketus said the Blue Knights bid could "achieve a rapid resolution for the club and provide it with a future that is free of unnecessary uncertainty".
"By incorporating Ticketus into their bid, the consortium is uniquely able to secure this outcome," it said.
Blue Knights
The Ticketus statement said: "The court has made it clear today that the Ticketus contract cannot be breached unless there is substantial evidence that by doing so the administrators are able to significantly improve returns for creditors and improve the chance of returning the club to a going concern.
"Given the strength of the Blue Knights consortium's bid, and Ticketus's role in this, with its contract remaining valid and enforceable, we question the ability for this to happen."
Ticketus said it would "do everything necessary" to defend its position and ensure its contract was honoured.
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So not dodgy at all, then.
 
agricola said:
Its a bit more complex:



So not dodgy at all, then.
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Yes, but at present the Ticketus deal still stands. Ticketus did not raise this court action the Administrators did. They have spent money on a courtcase-who pays that eh Rangers?-thet they haven't won.

Interesting is how the Administrators are now saying that the judges refusal to give the ruling in their favour is the best outcome...

Clark accepted the judge's refusal to give guidance because details of the competing bids were not divulged.
"This would most certainly not have been in the interests of creditors or the football club, particularly since the party which were subject to the legal proceedings also have an active interest in a bid for the club," he said.
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So why launch the action in the first place?
 
Like everything else just now with Rangers it's all as clear as mud. I think this means that anyone who wants to buy Rangers can offer Ticketus a deal to be involved or to be given what the new owners lawyers feel is enough.
 
anchorage said:
Like everything else just now with Rangers it's all as clear as mud. I think this means that anyone who wants to buy Rangers can offer Ticketus a deal to be involved or to be given what the new owners lawyers feel is enough.
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Which is why I think it makes Murray and Co favourites.
 
Fedayn said:
So why launch the action in the first place?
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Probably because they didnt actually lose anything, but did gain the important confirmation that Ticketus are not preferred creditors and have to take their place in the queue along with everyone else. Indeed this might actually harm the BK bid because for it to be successful they probably have to treat the other creditors as they would Ticketus - if they want their twenty-odd million that they lent Whyte back, HMRC will be getting its fifty million.
 
Can't wait for tomorrow. Game is gonna be tense as fuck. Rangers team is weakest in living memory. I think we can put a few past them. Not looking forward to the trouble after the game though.
 
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