Some people think yesterday was the darkest hour in the 140 years of Rangers.
That’s a matter of opinion.
However, the days ahead are going to make yesterday look rather bright.
I am informed that the cash flow situation at the Ibrox club is dire, and that in order to make the payroll commitments at the end of this month there will have to be some chainsaw trimming of the staffing establishment.
Now that the club is in Administration that does not mean that they don’t have to keep the lights on.
Rangers have no credit line from a bank.
If they simply run out of cash, then liquidation will follow on very shortly afterwards.
To the regular visitors here who scoffed at the idea of the Ibrox club being put into Administration then you were wrong.
Sometimes I approved their comments for viewing, but often they were too abusive and libelous to be allowed out onto the site.
These same dignified British patriots have, of course, the freedom to dismiss the idea of this “great Scottish institution” (sic) being liquidated rather rapidly.
It is permissible to laugh off the very concept that this could happen.
No, please, chuckle if you want to.
I haven’t stopped laughing in two days.
Join me in the mirth.
It is the best medicine.
mark
Thank you and rangerstaxcase.com for providing this information over the last year and a half.The Scottish press should hang their heads in shame.
February 17, 2012 at 1:24 am
SligoTim
How can the 1st minister say that they have a great history in scotland, also these other msp help keep rangers alive,
Also how do people say this was the same situation as Celtic
I think we were getting closed for money owed to then B.O.S am I correct for about 2million
February 16, 2012 at 11:24 am
Eck 67
Hi phil,
As a percentage could you give in your opinion how likely is liquidation for RFC.
thanks in advance.
February 16, 2012 at 9:31 am
Phil Mac Giolla Bhain
I will leave the number crunching to highly numerate visionaries like Mr Whyte.
However I DO think that liquidation of RFC 1873 is highly likely.
February 16, 2012 at 12:03 pm
King Kong
Phil,
whilst I’m aware of what Fergus McCann done for CFC, I was quite young at the time and didn’t digest all that went on during the process. Being an avid reader of both this blog and that of RTC, it was on the latter that I was made aware of Fergus’ moral fibre. Rather than allow the club to enter administration and wipe a 6/7 million pound debt, apparently Mr. McCann said repaying monies lent the club was morally the correct thing to do.
Can you confirm this and if so may I suggest a blog or possible/preferable press release to signify THE difference between us and the dark side.
Many thanks in advance,
Mr. K. Kong (in the room)
February 16, 2012 at 8:16 am
John Reid
Anyone remeber brand ‘X’ from the original Tim Burton Batman movie? I think a sly trickster may have got his/her hands on some and flushed it into the west of Scotlands water! So many huge wide maniacle smiles, even reached me down here in Melbourne
Phil, I would just like to say a big thank you to yourself and RTC, I moved away from Scotland about 8 years ago and being down in NZ/AUS you still meet people from both halves of the divide on a regular basis and the ostrich syndrome is NOT confined to Glasgow that is for sure, but by and large the vast majority have agreed that they were worried and most, if not all, their info had come from yourself! Also, have you been invited along to the fringe? I have laughed more in the last two days viewing your website than I have in the rest of my days combined
Hail Hail and R.I.H rfc
February 16, 2012 at 5:19 am
Eamonn Coyle
Well done Phil for your consistent reporting on this. I guess if George W Bush were a commentator on Scottish football, he might say something like: “Well, eh, Rangers got drunk. And now they’ve got a hangover!”
February 16, 2012 at 2:23 am
Markybhoy
Congratulations on your work. They still think everything is going to be alright, mugs!
February 16, 2012 at 1:51 am
belfastvin
Paul mc how about this playlist (its a text doing the rounds)
1: Borrow Borrow (We Will Borrow Millions)
2: God Pay The Queen
3: The Cry Was No Reminders
4: The Cash My Father Owed
5: Penny Blockade
6: Simply In Debt
7: We’ve Remortgaged Derry’s Walls
8. Hullo Hullo (We Are The Baliff Boys)
February 16, 2012 at 1:22 am
Paulo Di Mcglinchey
Tá ár lá teacht
Our day HAS come…
February 16, 2012 at 1:21 am
Ralf
Just watching champions league football and AC Milan giving a premiership team a 4-0 hamering, given the fact that major scottish teams are in financial trouble, it will be harder for SPL champions to get a sniff of the champions league, dont think we’ll be be laughing, more like crying at humiliating defeats, due to the state of the scottish game in general.
February 16, 2012 at 12:36 am
GraemeC
Did anyone listen to the Daily Record Podcast today?
Jim “Succulent Lamb” Traynor has the gall to say “Don’t you think Rangers fans were a bit slow on the uptake with this?”
Well yes Jim they were, very perceptive of you…
but completely ignoring the fact the poor deluded fools were helpfully led along the garden path by a gullible(complicit) press corp. I have spent the best part of a year telling all my RFC supporting(and even a few CFC supporting) pals what was on the cards…not a single one of them took it seriously. The grip of the (mainly) tabloid press on the minds of the public is truly terrifying at times.
PS not sure how to comment on a particular post but was pretty blown away by Baresi’s post re Craig Whytes connection to the Administrators. Being completely ignorant of how these things work, I am shocked this is even legal!!!
February 15, 2012 at 11:57 pm
Ian Ferguson
I know what you mean.
Last night Jabba was on Newsnight & stated a couple of facts that were actually true, about a year or so on here.
Jesus wept, & so did I, I laughed ’til I cried & almost fell out of my chair.
My wife moved in for a Vinnie massage, I was touched until she said she was just making sure.
February 16, 2012 at 1:14 am
Paulo Di Mcglinchey
The EPL require clubs to submit quarterly accounts proving that they are up to date with all of their tax payments. Why have the SFA not been doing this?
February 15, 2012 at 11:29 pm
Ta ann la anseo
Phil,
I hope my attemt at gaelic for our day has come is ok.
You said @12.00pm, RFC is now being run in the interests of the creditors. I know this is the correct way they should be proceeding. However, I’m pretty sure I heard last night on telly the spokesman for the administrators say quite clearly that their first concern was for the club.
Is this a bad error on his part to put the club before the creditors?
Maith thu mo cara!!
February 15, 2012 at 11:27 pm
iain
seems as though a sale of rangers assets will only realise around 14 million at best therefore rangers will continue to trade as a going concern after a cva is reached with all parties concerned ….payments of around 1/3 of outstanding debt to be repaid to all parties over a fixed timescale …info from certified insolvency practitioner who stays in kilmacolm inverclyde …id rather hear this from certified expert rather than mere speculation ….it obviously makes sense for the business to work its way out of the mire its in …heavy pressure from scottish politicians will ensure that rangers continue to trade although craig whyte may not be at the helm
February 15, 2012 at 10:59 pm
Ian Ferguson
Iain:
Why is Salmond getting involved?
If he wants involvement why is he not chasing the tax debt for usage in his gov’s tax plans?
Someone, or a lot of ordinary someones’ are paying the price of the continuing non payment & the costs related to chasing Rangers for their tax debts.
There is no moral or ethical reason for helping Rangers, they are a multiple offence, tax cheating company, their latest exploit comes into the “Won’t Pay” catagory, the most toxic.
There should not be a FINAL settlement of a reduced nature, if Rangers decide to go in & out of Administration, they should be allowed to, it’s legal & even Scottish football can accommodate it, 10 points at a time.
They can even start next season in admin & come out & back in, at 10 points at a time, as often as they can’t pay their bills, the option is there, 10 points at a time.
If, however, it is a newco, then no place in the SPL should be offered.
Why should Rangers be allowed to multi tax abuse & end up better off than smaller clubs they owe money to, & have deliberately screwed?
Should the twitterers of the SFA/SPL not be more worried about the legitimate losses of the SPL Clubs who Rangers owe, & have cynically not paid, thus putting THEIR futures in jeorpardy?
Scottish Football NEEDs better financial controls along the lines of Uefa best practice.
In fact the whole of Scottish football governance needs modernised, it is not fit for purpose in the modern age & this sorry saga proves this.
February 16, 2012 at 2:06 am
ballybough
just when you think rangers cant sink any lower they once again prove that they are not only financially bankrupt but are also morally bankrupt as well. yesterday they pulled out all the stops to sign daniel cousin on £7500 pounds a week in the full knowledge that they were going into administration hours later and would have to tear up contracts and sack current employees many of them young players and ancillary staff.it doesnt say a lot for ALLY that he was prepared to go along with this.
February 15, 2012 at 9:23 pm
Gerry Carty
Well done Phil ….its good to see that investigative journalism is still alive and well.
February 15, 2012 at 9:17 pm
Bodbhoy
Well done Phil, you and RTC were scoffed at when you had the audacity to tell the PEEPL the real truth about their clubs predicament. You had the courage and the conviction to stand up against the prevailing grovelling acceptance of anything churned out at Mordor as being accurate and acceptable as fact by the succulent lamb brotherhood.
It’s a victory for real journalism and you deserve all the accolades that are forthcoming.
I can’t remember being more content and happy about the situation that RFC now find themselves, and of course it’s even sweeter that this was self-inflicted. The truth will always out with when real journalists get involved, power to your elbow. I can’t help thinking that after 140 years, that what goes around comes around.
I am off from for some Jelly & Ice-cream, (HA)IL (HA)IL.
February 15, 2012 at 7:42 pm
PaulMc
Well Phil, after well over a year of reading your site (and occasionally RTC blog) imagine my surprise to read in the Daily Record of how THEY BROKE THE STORY! So I imagine you will be thanking Messrs Jackson, Keevins and “succulent lamb” Traynor for keeping you fully up to date about this. Surprised you haven’t already done so.
February 15, 2012 at 7:10 pm
Thekwizatshaderach
What is eye opening or should be to any reader, listener or viewer of any of the main stream medias vehicles of propaganda, is the towing of the party line, its as if they have all been sat in a big room and told what to say, it is almost uniform about Rangers plight and that they should be saved.
February 15, 2012 at 6:51 pm
Charlie P
Phil
Can HMRC hold back on the big tax bill while things play out over the existing debts. Allowing all other creditors to do a deal and accept the 10p in the pound and bring them out of administration.
This would then clear the decks for HMRC to pursue them for the total amount of the big bill allowing them to set an example to others who have used EBTs in a similar fashion.
With no other creditors they could set the terms or liquidation would follow unless of course the latest hero Ian Murray can get all the money required from their loyal fans.
If/when liquidation comes the groundswell of MSM backing for rangers being allowed back into the SPL with a 10 point deduction for the next 2-3 years, this should not be allowed as it would make a laughing stock out of Scottish football, anyway 10 points is only 3 penalties and a dodgy offside and there is plenty evidence of that happening in the past.
If they restart in division 3 and work their way back up then this would be seen as fair and would also allow for reconstruction without the pressure from TV or greedy self-interest.
February 15, 2012 at 5:57 pm
larsson7
Hi Phil first post on your site. Been reading with laughter for the last 24 hrs. Now anger is setting in at the thought of them getting in through the back door because the media is in full swing now with “Scottish football cannot survive without Rangers”. When you hear the financial mess the previous board has left and what went on, will the SFA now come under scrutiny
February 15, 2012 at 5:26 pm
jim larkin
the sabre rattling has begun!
threats about the £80m 5 year TV deal – being dependent on Rangers participation in the SPL!
seems the only alternative they’re driving at, is that a “new” Rangers should be docked points…for years to come.
no mention of how many years…or how many points!
surprise surprise.
February 15, 2012 at 5:22 pm
Baresi
Phil – have you examined who directs the Administrators?
February 15, 2012 at 5:12 pm
Baresi
Duff and Phelps – http://companycheck.co.uk/company/05568550
Who purchased MCR in October – http://www.mcr.uk.com/
MCR – Merchant Corporate Recovery – who is a director of MCR?
http://companycheck.co.uk/company/06805838
February 15, 2012 at 5:17 pm
frankiethebear
Phil,
Can you or anyone tell me what the implications, if any, of having craig thomas whyte having a business relationship with duff and phelps?
is there still a business relationship or does this not matter as it was in the past?
i am refering to Baresi’s post of today at 5.12 pm.
February 15, 2012 at 11:38 pm
Brian
Baresi, excellent digging. The administrators clearly have a loyalty to Whyte which is not good news for anyone except him.
February 16, 2012 at 1:16 am
marcella
well done phil, between yourself & the RTC you have kept those wo didnt want to hide from the truth informed.
I notice today on the BBC webpages that the tv deal that commences in August stipulates that both ‘old firm’ teams must be part of the spl? Surely such a condition could not be written into a legal contract? Or is this the first salvo in the ‘we can live without them’ drive.
On a separate note anyone know how to get a mobile out of administration? Mine has entered freefall with all this hilarity….
February 15, 2012 at 5:07 pm
liam
phil mac giolla bhain c.s.c !!!!
February 15, 2012 at 4:48 pm
PaulMc
Not bad. I’m currently thinking of tunes they could play at Celtic Park the next time Rangers (if they still exist) toddle along. So far I’ve got “Taxman” by The Beatles, “Money” by Pink Floyd, “Money Money Money” by Abba and “Sunny Afternoon” by The Kinks. I’d love it they even played one of them.
February 15, 2012 at 7:20 pm
John Burns
The Glasgow Press Mafia and the SNP, must not be allowed to use their “Scotland needs a strong Rangers” mantra to mitigate the punishment due to Rangers.
After liquidation any Newco, and there will be one, must start from scratch – there must be no parachute into the SPL.
Of course, over time, Rangers would move through the divisions and eventually be back in the SPL, however there must be no convenient ‘short-cuts’put in place.
They have “done the crime” and therefore they must “do the time” – at least three years in the lower divisions seems appropriate.
Finally, regarding the sale of assets. It is assumed that Ibrox could not be sold due its status as a ‘B’ listed building – only the facade of the main stand is listed and the law allows for the dismantling and relocation of ‘B’ listed buildings – what about Larkhall? – now there’s a thought.
February 15, 2012 at 4:41 pm
marty
Phil what you think of this.
He might offer to write off debt as white is owede £18m as preferred creditor. If that’s accepted they come out of admin.
When the big tax bill hits, they then go straight to liquidation. Whyte can then blame the old board as that was the ebt tax case.
February 15, 2012 at 4:25 pm
cary g
Fantastic reading Phil…..if their running costs are around £3.8m per month? (roughly) were is the £16m (roughly) to get them to the end of the season coming from? & in your view could Whytey be arrested…living in hope
)
February 15, 2012 at 4:14 pm
Budbhoy
Ok, we have an idea what they are worth, but anyone got an estimate of what they owe excluding the EBT tax?
February 15, 2012 at 4:14 pm
Whullie
Mirth has it levels. Some may bellow with laughter. I however prefer to smile quietly. I strongly dislike everything that RFC stands for but I have friends. They are friends first and some are Rangers supporters next. I feel for them because I do not choose eejits or bigots to become friendly with. There are also livelihoods at stake here. There may well be innocent victims in this, somewhat further down the food chain,yes. But innocent nonetheless. As I stated in previous responses, RFC will return in some guise or other and that makes me glad for my friends. Rangers, the organisation? They can run up ma humph. They reap what they have sown and this is what keeps this quiet smile on my face. They still need somewhere to play football though.
On the subject of their assets. I know it is a wee bit left of field here but bear (no pun intended) with me. IF, as you suggest, Ibrox et al would cost no more than £20m. If I were Dermot Desmond, I might find myself appointing an agent to investigate the possibility of investing in some south side property about to come on the market. Small change, comparatively speaking, to a man of his REAL off-the-radar wealth. How outrageously wonderful would it be for the men of the renamed Govan Germans to be ‘bouncy bouncy-ing in an arena with a green Sword of Damocles over them. Nice we earner there DD. Rent from Thaim, concerts,conferences. Even a training pitch if required. Do you have DD’s ear? A wee word in his shell like? As John Lennon wrote in one of his little ditties…..Imagine. I think I may require the skills of a surgeon to remove this ever widening smile.
February 15, 2012 at 4:10 pm
Whullie
Hi Yojimbo. You can read from the gist of both posts that I do have a genuine concern for genuine fans. Whilst the references to DD are outrageous in the eyes of a Rangers fan, it is the sort of thing I would delight in if I was in his position. However, I am not. There IS an element of tongue in cheek, mischief making included. For that, I think I can be forgiven.
February 16, 2012 at 2:00 pm
JimmyG
I was writing to thank your good self Phil for your diligence,truffling and coming out with the ‘real’ goods. One day Scotlands Media will apologise. Meanwhile I beg you take precautions regarding yourself,there are some nutters out there.I also wanted to commend Whullie for his very temperate post and hope yhe lets me know if he ever gets rid of that contemplative ever widening grin,my ear lobes are under attack.
I love the idea of a ‘Hit Parade’ for the Blue core et al……two spring immediately to mind…..Both Bob Dylan…’It’s all over now Baby Blue’ and if they only get minimalised..’Hey Mr Tangerine Men.
One further surmise….if they do get liquidised,will it be,ethical,moral,legal or unlicensed to sell them? And how much do you think a pint would be? I’m thinking of the weans who might be saVED…..IS IT POSSIBLE?
February 20, 2012 at 1:43 am
Tam
I have been dying to post a comment about the current situation of ra peepil`s club but only 5 minutes ago have i managed to pick myself up off the carpet where i have spent approximately the last 25 hours rolling about with laughter
February 15, 2012 at 4:01 pm
francois donnelly
HI PHIL, YOUR OLD CANADIAN PAL FRANCOIS HERE ,A WEE QUESTION FOR YOU PHIL ,WHAT WOULD HAPPEN IF RANGERS GO INTO LIQUIDATION BEFORE THE FINDINGS OF THE F.T.T. PLEASE GIVE ME YOUR REPLY WHENEVER POSSIBLE, ? HAIL HAIL & GOD BLESS THE FREE – PRESS THANKS TO YOU PHIL IT IS REALLY NICE TO BE A FENIAN
February 15, 2012 at 3:56 pm
Bigpaul
Phil
Thanks for all the work you have done in keeping us Tims the most informed group of fans on t’internet.
My admiration stretches that far that if you are over in Glasgow and in need of a taxi, I might even consider a 10p discount on your fare.
Hail ! Hail !
February 15, 2012 at 3:48 pm
Allan McCulloch
Please help me here, I think it’s glaringly obvious what Whyte is doing! He is trying to amass 75 % Creditor status between himself and his cohorts and by doing so a CVA at his preffered level of payback becomes inevitable. Thereby leaving him with all the money he has withheld to rebuild this disgrace of a football club! Am I missing something?
February 15, 2012 at 3:47 pm
Whullie
Alan.
I am no financier either so the following comment is only my understanding of that theory. CW has suggested that the final figure owed to HMRC could be as high as £75m. His number, not mine. If we take a more modest figure which is almost universally accepted to be in the region of £50m as a base for the calculation. That would require that debts in excess of £150m would have to be racked up by CW to achieve that aim. It has to be remembered that the £50m figure is the perceived bill after a negative result in the FTT. HMRC may also be owed revenues from VAT, PAYE etc from the start of his tenure. There is also the small tax case. I suspect that all of these debts, if all are crystalised against RFC, set the figure even higher resulting in an astronomical debt to have to be accrued by CW to gain the 75% status. I can understand the argument but I think the numbers could get ridiculous. Thoughts?
February 16, 2012 at 2:32 pm
thomas cochrane
the tax dodgers will ,i think end up in 3rd div (they should even have to qualify for that.BUT it will only take them 3 seasons to come back…..thier fellow travellers will make sure of that.
February 15, 2012 at 3:47 pm
Nick
Awesome work Phil! This is the first time I have posted a comment on your site but I have been a keen reader for around a year and a half. I placed a bet around a year ago with a work mate to the sum of 100 pounds, that rangers would enter into administration or become insolvent due to the issues surrounding the tax case(s). How delighted I was to receive said 100 quid this morning, and for that I must thank you! I always knew that rangers would face an insolvency event (thanks to the great investigations done by yourself and the rangertaxcase blogger) but I underestimated just how good it would be to watch them crumble. Keep up your solid journalism Phil!
February 15, 2012 at 3:40 pm
Stephen Donnelly
Phil been following your page for a while now, you have been bang on the money everytime, well done mate for exposing this mob for what they are.
Was reading one of Whytes ex partners saying that Whyte will put rangers into liquidation no one will get paid except him, because he is the main creditor, someone else will come in and take them over without any debt.
He also states that the courts will allow rangers to keep there name due to how long they have been going, any truth in this mate, it is in the daily ranger today, keep up the good work Phil, hail hail
February 15, 2012 at 3:39 pm
Steven doyle
Phil I want to see rfc disappear into the fires of hell ,their anti-catholic policy is alive and well on the poisonous slopes of ibrox ..good riddance ,let the devil do his furious worst
February 15, 2012 at 3:18 pm
Thomas McCarthy
Phil what is happening to the other teams who are waiting on their money will they receive it. Cheers Phil
February 15, 2012 at 3:16 pm
Brendan McCann
Congratulations, Phil – Rotten to the core, they brought themselves down, but you gave it the “oxygen of publicity”.
If they didn’t heed your “administration” message they’d do well to heed your “liquidation” message.
There are so many side-shows on this but wasn’t McCoist’s prediction that “Cousin will shift the title balance towards Rangers” hours before the announcement just the sprinkles on the ice cream on the jelly.
I trust our Board are hard at work formulating a short and long term strategy that will ensure we are poised to protect our interests and maximize potential in the new reality.
Noted from the Daily Mail today that as many as 9 EPL clubs, as “single” proposition I’d hope we’d be more attractive to the EPL..
Excellent, Phil – keep up the good work.
February 15, 2012 at 3:05 pm
JimmyG
i FIND IT INTERESTING bRENDAN THAT ALL THROUGH LAST WEEK ANDD FOR DAYS BEFORE, mCcOIST WAS MAKING A BIG THING ABOUT MEETING wHYTE DAILY,EATING TOGETHER,TALKING TOGETHER AND HOPEFULLY ONLY INDULGING IN NON gRECO rOMAN WRESTLING Daily. Yet only on Saturday did he say he had not seen Whyte for over a week. Thus are all gers problems solved,they have invented the rubber faced Hologram,a Cyber Chairman, an electronic being who can oly be captured by Superman,or a guy with a 4 gig Dongle thing.
February 20, 2012 at 1:56 am
Eck 67
Phil as it stand just now can HMRC put a stop on a CVA with their owed amounts which I count at £16.3m with the £9m PAYE £2.3 m tax bill and the £5m vat the overall debt would need to be over £65m for HMRC to be below the 25%.
Is the current debt greater than£65m or are my figures way out or not counted in a CVA.
February 15, 2012 at 3:01 pm
gerard reilly
phil, am i picking you up wrong or did the start of your blog advise that joe public is out of order to “scoff” at the situation at edminston drive ? i know that decent language should be used at all times ,but it seems that you have vision of the old rfc are heading for an escape route ? please let me know if this is accurate ? thanx !
February 16, 2012 at 8:43 am
jim wood
I wonder if the goal scored by Joe Ledley in December is the last time we will ever score against Rangers fc? Great work Phil as usual.
February 15, 2012 at 2:58 pm
Celtic Rebel
Phil,genuine question,can the guys with the funny handshakes help their ‘brothers’out?
February 15, 2012 at 2:52 pm
Liam
I must admit, while I never doubted the veracity if any of your previous article I always had a nagging doubt that some how they would worm their way out of the situation.
I am delighted to have been proven wrong
Truth will out, and Karma is a bitch
February 15, 2012 at 2:09 pm
Stewart
Surely that £14m doesnt include Ibrox and Murray Park??
February 15, 2012 at 2:08 pm
John G Boyle
Hi Phil,
well done on your repeated scoops.
Surely Ibrokes is worth more than £14m? A lease back to a Newco could provide a steady income almost indefinitely?
February 15, 2012 at 1:34 pm
Gerry
Phil, In all honesty liquidation is no more than this morally bankrupt club deserve. The scale of their debt will no doubt shock the fair minded but I suspect it will not stop the MSM clamour to retain their SPL status. Even if they take another club like Dunfermline down with them they will still have their apologists. Gerry
February 15, 2012 at 11:55 am
John O'Neill
Phil,
Perhaps you should direct the naysayers towards Mary Poppins, after all; “A spoon full of sugar helps the medicine go down…”
As for me, well I’ll take it without, I’m sweet enough and feeling sweeter by the hour!
John
February 15, 2012 at 11:53 am
alan ryan
Got the flu on monday. Laughing for 48 hours. Better today !
February 15, 2012 at 11:51 am
Niall Keane
Well done Phil. After many months of warning and opening the eyes of the world on RFC its good to sit back and say I told you so. Keep up the good work.
February 15, 2012 at 11:50 am
Colin
Just wondering can rangers sell assets without actually going into liquidation to fund the club or can they only slash wages and pay off staff
February 15, 2012 at 11:46 am
Phil Mac Giolla Bhain
Colin.
The administrator can use available cash to run the company as a going concern if he/she thinks that will benefit the creditors.
RFC is now being run in the interests of the creditors with Mr Whyte at the top of the pile
February 15, 2012 at 12:00 pm
Mick Curran
How much do you reckon their assets are worth after liquidation? Can anyone make an offer? Could WE buy the lot? Cheers Phil.
February 15, 2012 at 11:43 am
Phil Mac Giolla Bhain
I am informed by Scottish insolvency experts that the liquidation value of RFC is around £14M
February 15, 2012 at 12:02 pm