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Getting back on point here!!! How will Ashley take control of the club though?? He has tried to sell Newcastle before and been unable to and until he does that the SFA won't let him increase his shareholding, so he needs to sort that one first. As regards the reason behind this, I very much doubt it really to do with football, it will be about making money for him, thats what he does!! Now if he can carry you forward while doing that then great but I don't for one minute think he is doing it for football reasons as such.
The debt the club has to him will either become another millstone around the clubs neck or will enable him to take over the club by converting them into shares at some point to give him control. Over to the SFA for that one again!!
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Whatever his plan is I don't see it being one that involves Rangers going under. What would he have to gain from that? On the other hand I also can't see him benefiting from anything unless he has the fans backing the team, and so far nothing he's done has seemed likely to bring the fairweather fans back to Ibrox. Both he and the board are wilfully ignoring the wishes of the biggest stakeholders and customers of the company - the fans - which is why Ashley needs to speak out and the board probably needs to go.
Again, there really should be legal proceedings brought against the board members given that Park has said Llambias told him his funding offer would only be considered by board members if they were assured they would retain their positions. If that's true there is no way they can be said to be putting the interests of the shareholders before their own.
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Ffs, I knew it wouldn't belong before the onanites tried to ruin this place.
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Thought I would post twice in case you missed the point and the facts- trading insolvently. Wise up, even yer chairman and board acknowledge that, why can't you?
HHGH
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29-01-2015, 09:52
(This post was last modified: 29-01-2015, 09:55 by TheWorthinGer.)
They would only be trading solvently if they had no cash and knew that there was no way they could raise any cash. The company's asset far out value any debt that they have.
Not acknowledged because not true.
"Under UK insolvency law trading once a company is legally insolvent can trigger several provisions of the Insolvency Act 1986, including:[1]
Wrongful trading – Section 214
Transaction at an undervalue – Section 238
Preferences – Section 239
Extortionate credit transactions – Section 244
A limited company becomes insolvent when it can no longer pay its bills when due, or its liabilities—including contingent liabilities such as redundancy payments—outweigh the company’s assets. This is a critical point in the lifespan of a company as it denotes when the directors responsibilities change from the shareholders to the creditors. It also means that the directors need to be extremely careful when considering whether to continue to trade, or not. Any director who knows that the company is insolvent and makes the decision to continue to trade, and in doing so increases the debts of the company can be made liable for the company debts."
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No point telling him, TWG. He wants a different answer, not plain facts.
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It's a moral duty to try and improve these people.
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Some would say that's a bridge too far...
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FFs wise up Ya bampots. Chairman- " we desperately need an injection of capital to meet January salary payments". Ok, let's have another loan from MA of £5million, £3million of which will be used to pay back the loan MASH gave in December, leaving a balance of £2million, which conveniently covers January salaries etc. There is no way enough money can be generated to repay these loans as MA has you stitched right up. Insolvent. Announcement coming on Monday lads- tick TOCK.
HHGH
