"So do you agree, it was the above holding company that was liquidated and not THE CLUB???"
Of course the club wasnt liquidated. This is what I have been telling you for months.
THe club (the sum of the assets) were sold to the NewCo from the OldCo. Therefor the club was then no longer in the OldCo when it was liquidated.
But it's Rangers the club that is about to liquidate...WITHOUT EXITING ADMINISTRATION.
LEEDS EXITED ADMINISTRATION.
So you have NO point
TCD,
Green has already stated that he will transfer Rangers to a NewCo if the CVA fails.
This will cause Rangers to exit administration without a CVA, then the oldco will be liquidated.
So at no point does the club liquidate.
This will cause Rangers to exit administration without a CVA, then the oldco will be liquidated.
+++
But Leeds were bought as a going concern...IN ADMINISTRATION.
Green may not have that option....the club could be liquidated beforehand.
Which is what we've been trying to say for months.
You cannot be bought as a going concern if you are liquidated
TCD,
The administrators have already agreed a deal to sell the club.
Winding up order cannot stop the asset transfer.
They can wind it up and get a share of the asset sale money if they like. Might have to fight it out with Whyte though.
TCD,
At the end of the day, a winding up order is not a huge risk to our position because we are in administration. The protection offered by D&P secures our future.
We'll see...I can imagine HMRC allowing a transfer of assets without their say so.
Is that why there's a creditors meeting on June 6th?
Just be grateful HMRC didn't wind you up in February
HMRC cant block it.
The administrators have the power to push through the deal as D&P have decided its their best offer.
Creditors meeting is to try and get a CVA, which we wont. Means no Europe for a few years but other than that things will be rosy.
The administrators have the power to push through the deal as D&P have decided its their best offer.
+++
That'll be for the creditors to decide
If the CVA is blocked, watch the club being sold under HMRC's noses...not
Sign in if you want to comment
Losing History???
Page 4 of 4
posted on 17/5/12
"So do you agree, it was the above holding company that was liquidated and not THE CLUB???"
Of course the club wasnt liquidated. This is what I have been telling you for months.
THe club (the sum of the assets) were sold to the NewCo from the OldCo. Therefor the club was then no longer in the OldCo when it was liquidated.
posted on 17/5/12
But it's Rangers the club that is about to liquidate...WITHOUT EXITING ADMINISTRATION.
LEEDS EXITED ADMINISTRATION.
So you have NO point
posted on 17/5/12
TCD,
Green has already stated that he will transfer Rangers to a NewCo if the CVA fails.
This will cause Rangers to exit administration without a CVA, then the oldco will be liquidated.
So at no point does the club liquidate.
posted on 17/5/12
This will cause Rangers to exit administration without a CVA, then the oldco will be liquidated.
+++
But Leeds were bought as a going concern...IN ADMINISTRATION.
Green may not have that option....the club could be liquidated beforehand.
Which is what we've been trying to say for months.
You cannot be bought as a going concern if you are liquidated
posted on 17/5/12
TCD,
The administrators have already agreed a deal to sell the club.
Winding up order cannot stop the asset transfer.
They can wind it up and get a share of the asset sale money if they like. Might have to fight it out with Whyte though.
posted on 17/5/12
TCD,
At the end of the day, a winding up order is not a huge risk to our position because we are in administration. The protection offered by D&P secures our future.
posted on 17/5/12
We'll see...I can imagine HMRC allowing a transfer of assets without their say so.
Is that why there's a creditors meeting on June 6th?
Just be grateful HMRC didn't wind you up in February
posted on 17/5/12
HMRC cant block it.
The administrators have the power to push through the deal as D&P have decided its their best offer.
Creditors meeting is to try and get a CVA, which we wont. Means no Europe for a few years but other than that things will be rosy.
posted on 17/5/12
The administrators have the power to push through the deal as D&P have decided its their best offer.
+++
That'll be for the creditors to decide
If the CVA is blocked, watch the club being sold under HMRC's noses...not
posted on 17/5/12
Why not?
Leeds did it.
Page 4 of 4