Fred_Zeppelin Posted October 6, 2014 Author Share Posted October 6, 2014 didn't happen though did it Yes, yes it did. Quote Link to comment Share on other sites More sharing options...
Scotty CTA Posted October 6, 2014 Share Posted October 6, 2014 No one under a £1,000 or any Football debts remain unpaid. What's the total of the 'non-footballing' debts over £1,000? Quote Link to comment Share on other sites More sharing options...
ShedTA Posted October 6, 2014 Share Posted October 6, 2014 Lawyer now are ya? The Rangers fan now are ya? Quote Link to comment Share on other sites More sharing options...
Fred_Zeppelin Posted October 6, 2014 Author Share Posted October 6, 2014 The Rangers fan now are ya? Quote Link to comment Share on other sites More sharing options...
Debian Posted October 6, 2014 Share Posted October 6, 2014 Rangers fan now are ya? Now, then and forever Quote Link to comment Share on other sites More sharing options...
Debian Posted October 6, 2014 Share Posted October 6, 2014 What's the total of the 'non-footballing' debts over £1,000? Ask EK, he has the list... Sure the Huddleboard have a daily running total Quote Link to comment Share on other sites More sharing options...
PASTA Mick Posted October 6, 2014 Share Posted October 6, 2014 The Rangers fan now are ya? Quote Link to comment Share on other sites More sharing options...
bruce778 Posted October 6, 2014 Share Posted October 6, 2014 Bollox. In scottish law the club and company if incorporated are indistinguishable. One is liquidated, they both are. Gone.You are clearly not a lawyer because that is 100% incorrect. Quote Link to comment Share on other sites More sharing options...
Bristolhibby Posted October 6, 2014 Share Posted October 6, 2014 RIP The Rangers Hello The The Rangers. Quote Link to comment Share on other sites More sharing options...
Fred_Zeppelin Posted October 6, 2014 Author Share Posted October 6, 2014 You are clearly not a lawyer because that is 100% incorrect. Sounds correct to me. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted October 6, 2014 Share Posted October 6, 2014 Sounds correct to me. Haha, must be incorrect then! Joking aside, it's totally wrong. Quote Link to comment Share on other sites More sharing options...
Fred_Zeppelin Posted October 6, 2014 Author Share Posted October 6, 2014 Haha, must be incorrect then! Joking aside, it's totally wrong. You're not going to go on about holding companies again, are you? Quote Link to comment Share on other sites More sharing options...
bruce778 Posted October 6, 2014 Share Posted October 6, 2014 You're not going to go on about holding companies again, are you?No, I never did. It's about corporate structuring. It's pointless going over it again. I've already explained it to you and shedta before so don't think we should waste each other's time. I don't think shedta should be misrepresenting scots law though. Quote Link to comment Share on other sites More sharing options...
Fred_Zeppelin Posted October 6, 2014 Author Share Posted October 6, 2014 No, I never did. It's about corporate structuring. It's pointless going over it again. I've already explained it to you and shedta before so don't think we should waste each other's time. I don't think shedta should be misrepresenting scots law though. I think he represented it rather well. When a football club is incorporated it becomes a company, a single entity. If club and company were separate entities then both would have a separate structure and officers. But they don't, the MD of the company is also the MD of the club because they are the same entity. When the company is liquidated so is the club. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted October 6, 2014 Share Posted October 6, 2014 No, I never did. It's about corporate structuring. It's pointless going over it again. I've already explained it to you and shedta before so don't think we should waste each other's time. I don't think shedta should be misrepresenting scots law though. I don't think The Rangers should be misrepresenting the facts. The are a new club and everyone knows it. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted October 6, 2014 Share Posted October 6, 2014 I don't think The Rangers should be misrepresenting the facts. The are a new club and everyone knows it.Yawn. We can go over this as much as you like. I know I'm right and any independent assessment of the facts backs up my view. You have no independent assessment to back up your claims (which are asserted as fact) whatsoever. Strange that.... Quote Link to comment Share on other sites More sharing options...
bruce778 Posted October 6, 2014 Share Posted October 6, 2014 I think he represented it rather well. When a football club is incorporated it becomes a company, a single entity. If club and company were separate entities then both would have a separate structure and officers. But they don't, the MD of the company is also the MD of the club because they are the same entity. When the company is liquidated so is the club.A company is the corporate structure that operates a business. In this case, rangers football club was the business operated by the old company.The business, ie the football club, was sold by the old company to the new company. I don't see what is so difficult to follow about that. I think you may be getting the concept of a club mixed up with those clubs that can be legal persons in their own right, such as golf clubs. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted October 6, 2014 Share Posted October 6, 2014 A company is the corporate structure that operates a business. In this case, rangers football club was the business operated by the old company. The business, ie the football club, was sold by the old company to the new company. I don't see what is so difficult to follow about that. I think you may be getting the concept of a club mixed up with those clubs that can be legal persons in their own right, such as golf clubs. Bruce what we are saying is that once incorporated the club is indistinguishable from the company. The company was liquidated and so was the club. The assets were sold off to pay the creditors and bought by a new business. The old business and company as they were Indistinct were liquidated. Quote Link to comment Share on other sites More sharing options...
Fred_Zeppelin Posted October 6, 2014 Author Share Posted October 6, 2014 A company is the corporate structure that operates a business. In this case, rangers football club was the business operated by the old company. The business, ie the football club, was sold by the old company to the new company. I don't see what is so difficult to follow about that. I think you may be getting the concept of a club mixed up with those clubs that can be legal persons in their own right, such as golf clubs. You can't sell a business that is £ms in debt as a going concern and simply leave that debt behind. What Charles Green bought was the assets, not the business. Quote Link to comment Share on other sites More sharing options...
Redz Posted October 6, 2014 Share Posted October 6, 2014 Looking like a long night for you 3...... Quote Link to comment Share on other sites More sharing options...
peever1745 Posted October 6, 2014 Share Posted October 6, 2014 (edited) Yawn. We can go over this as much as you like. I know I'm right and any independent assessment of the facts backs up my view. You have no independent assessment to back up your claims (which are asserted as fact) whatsoever. Strange that.... What he does have is commonsense.The club went bust,went out of business therefor The Rangers FC are a new club.It seems only fans of The Rangers cannae grasp this. Gretna went out of business as well but now they have a new club in the town not any different from the old Rangers clubs downfall. Edited October 6, 2014 by peever1745 Quote Link to comment Share on other sites More sharing options...
ShedTA Posted October 6, 2014 Share Posted October 6, 2014 Looking like a long night for you 3...... ?? not for me. I haven't got much more to say on it really. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted October 6, 2014 Share Posted October 6, 2014 (edited) You can't sell a business that is £ms in debt as a going concern and simply leave that debt behind. What Charles Green bought was the assets, not the business.He definitely bought the business and the assets. It's in all the administrators and liquidators reports if you don't believe me....And of course you can sell a business without transferring liabilities! The liabilities are owed by the company, not the business operated by the company. A business cannot enter into contracts etc - the legal vehicle for that is the company. Essentially, the two most common ways to buy a business are either to buy the company that operates the business, ie buy the shares of the company, or use another company to buy the business and all the associated assets of the business so that the other company can run the business. Rangers' case was the latter. Edited October 6, 2014 by bruce778 Quote Link to comment Share on other sites More sharing options...
peever1745 Posted October 6, 2014 Share Posted October 6, 2014 He definitely bought the business and the assets. It's in all the administrators and liquidators reports if you don't believe me.... If this is true then when can all those owed money by your club expect to get paid? Quote Link to comment Share on other sites More sharing options...
bruce778 Posted October 6, 2014 Share Posted October 6, 2014 If this is true then when can all those owed money by your club expect to get paid?It's definitely true. That money was owed by the company. As I said above, a company enters into contracts, has to pay tax, etc, not the football club, so unfortunately it's unlikely that all debts will be repaid although if the big tax case is successful the outlook will be much better for creditors (including myself) getting some return. Quote Link to comment Share on other sites More sharing options...
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