Rangers: Miller’s Crossing Off

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5 Responses

  1. JOHN says:

    Even Duff&Phelps could understand it all if only they followed you http://www.twohundredpercent.net/?p=18552 there is a follow buttun philip case ya see it lol hail hail

  2. GSW says:

    “The bid also airbrushed majority shareholder Craig Whyte out of the picture – a popular but legally-challengeable move”

    A few things in the article grate somewhat, but BM’s way of doing it was actually quite clever. It wasn’t legally challengeable, Administrators havethe powers to sell-on the assets without the permission of the shareholders or even floating charge holders (CW was both). So what do you think is challengeable?

  3. Tom Cassidy says:

    Hi Mark, apart from the UEFA statutes, there is an argument that the Miller plan falls into the category of “Phoenix Activities” which are classified as fraudulent under UK insolvency law. Not a lawyer but a quick look in Google suggests his plan was a non starter.

  4. aiden mckellar says:

    a very well written piece on the ibrox saga. i can understand why the SPL+SFA are bending backwards to help rangers but can you tell me why HMRC have not given a positive date to deliberate on the exact amount owed by rangers, and what irregularities took place? i assume they are not part of the web determined to maintain rangers “admirable” history.

  5. Mark Murphy says:

    GSW,

    You are absolutely right in what you say about the administrators’ powers over charge holders. The “legally-challengeable” bit is where Whyte the CREDITOR can apply for a ruling that the administrators have acted in such a way as to unfairly harm his interests.

    I know only a little of the law and have gone through something of a crash course via Paul McConville’s excellent “Random Thoughts on Scots Law” website which, as I wrote recently, appears to have mutated into “Specific thoughts on Scots Law as it affects Rangers.” But I suspect and hope that such a move by Whyte would be treated with contempt. All I’m saying is that the option is there.

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