Whatever the decision on Monday, Ticketus will appeal and probably end up taking their case to the High Court and the Appeal Court. They provided funds in good faith and the idea that they will simply lose their money is unfair.
Whoever buys rangers, if anybody does, could find in a couple of years that the Ticketus case comes back on them.
If the debt is transferred to Whyte and Liberty, then it should be remembered that they have assets in the UK...........a football stadium and a training round. These could be seized by a court order.
It would be difficult for the parent company to sell both while they have an outstanding debt against them with Ticketus.
If the whole Craig Whyte deal is null and void, could Ticketus demand their money back from Lloyds and the debt plus interest charged against rfc? Also, why are the administrators claiming the £3.6m of Ticketus money which is with Whyte's solicitors? Surely this would be a case of cake and eat it.
Finally, if the argument from the Administrators is that the Ticketus debt restricts offers, then the argument is rather difficult to maintain when 5 offers are already on the table and one comes from Ticketus which is involved in the preferred offer. I suspect that the case will favour Ticketus and that the ST purchase will still be valid, after all if the Ticketus debt limits offers so does the HMRC debt and I cannot see that one being tipexed out.
This will drag on for a few years and perhaps rfc best option is liquidation and try to start again, but...........Ticketus claim the bought seats at the Stadium in an 80 page contract which will be very complex to get out of.
Ticketus
posted on 17/3/12
Any evidence that Kennedy has pulled out (link to a reputable source)?
posted on 17/3/12
in ll honesty I think you would be better off with the Blue Knight bid. You would have Ticketus onside and the club would be ran by guys like Murray that actually support Rangers.
posted on 17/3/12
I don't think Lloyds thought anything, they just wanted their £18million and Whyte was the only one to give them it.
I think the role of the bank in this is exaggerated, Kilmarnock owed the same bank £11million, yet they were not controlling the decisions in them. I think Murray knew all about Whyte, the takeover took eight months so that was enough time to find out enough and AJ also warned Murray.
posted on 17/3/12
Comment Deleted by Site Moderator
posted on 17/3/12
Right lads, I'm away.
Got a St Paddy's party at half 8, and the Mrs is back on the drink for the day, she's been off it for lent.
posted on 17/3/12
Enjoy your night Henrik.
posted on 17/3/12
Comment Deleted by Site Moderator
posted on 17/3/12
Good luck Henrik............on all fronts.
Happy Paddy's day.
posted on 17/3/12
So, what we have up to now is 2 iffy's and a mibby. Ally says there are at least another 2 bidders out there, but I thought Friday was deadline day. Looks like its ex directors as front runners then, guys who were involved in the lead up to administration. Not ideal imo.
posted on 17/3/12
BTW Blue Heaven, I do not post doom and gloom, I post information which is already out there. Doom and gloom would be a reasonable description of rfc position at the moment. Unless some billionaire group willing to lose a lot of money just to own a SPL club comes in, it will be a long time till rfc recover.
Court case after court case could easily be the scenario.