As I often say the Scottish courts website is a great source of information and often provides scoops for those happy enough to plough through its pages.
A quick look today revealed a new case on the “calling list”. This means that the action has been raised and served upon the defender, and because at least 21 days have passed the pursuers want to make progress.
Whilst it is not clear precisely what the action is for, I think it is noteworthy that Rangers have taken action.
Who is the lucky blogger to fall victim to Biggart Baillie, the lawyers for Rangers? Continue reading
Since Charles Green walked into Ibrox as the new owner of the assets and business of Rangers, he has taken on an aggressive stance against those he perceives as acting against the interests of what he acquired for his investors. He is happy to take on the football authorities, the other clubs and the BBC, all of which has impressed the fans of Rangers and seems to have won many of them over, despite initial misgivings.
According to the Daily Mail today (yes, I know) Mr Green has now a potential battle coming up with someone else. The paper suggests that the dispute regarding sums paid by UEFA to the SFA for use of players in the European Championship qualifiers is complicated, not simply because of the SFA’s refusal, so far, to pay this money to newco, being Mr Green’s company, rather than to Duff & Phelps, as administrators of oldco. Continue reading
Duff and Phelps are finally on their way out of Scottish football. The arrival of BDO as liquidators at Ibrox is imminent.
However, let us not let D&P leave without noting some things they are good enough to have published for us all to see.
The last report Rangers – Progress Report – 24 August 2012 makes clear where the money raised for creditors has gone. Remember that D&P consider that they have, despite a £4 million trading deficit, succeeded in fulfilling the second goal of administration, namely to have achieved a better outcome for creditors than would have been achieved through liquidation without administration.
Compare the August Report with the one in July Duff Phelps Report July 2012
Amongst the details we see the costs paid by D&P to outside agents, advisers etc.
Taking them in financial order, we can see the huge sums disappearing out of the administration, all, of course, incurred in the interests of the creditors… Continue reading