Past the Event Horizon

Avatar By

Merry Christmas everyone. Hope Santa was good to you and you …

Comment on Past the Event Horizon by torrejohnbhoy(@johnbhoy1958).

Merry Christmas everyone.
Hope Santa was good to you and you have a great day.

torrejohnbhoy(@johnbhoy1958) Also Commented

Past the Event Horizon
Morning all.
Just want to say thanks to ICT and Aberdeen.
If last nights game is an example of Armageddon then bring it on.


Past the Event Horizon
ParanoidWellFan on December 19, 2013 at 3:30 pm
3 0 Rate This

torrejohnbhoy(@johnbhoy1958) says: (1146)
December 19, 2013 at 1:30 pm
19 0 i
Rate This

ST sales aren’t treated on a cash basis. The turnover is recognised as the games take place, so it will be spread pretty evenly over the season
———————
I agree with what you’re saying.What I’m trying to establish is,
Where did the money come from?.


Past the Event Horizon
Figures from the AGM that I still can’t get my head round:
Turnover of £19m for the year but £9.6m was for the 1st 6 months and included the ST cash.
By my reckoning TRFC played 10 home games in the second half of the season.With average crowds of say 45k but 38k are ST holders that means a total of circa 70k paying fans.
At around £12 a head,allowing for concessions etc that’s gate receipts of £840k.
I know there will be a bit of merchandising,hospitality etc but do these really add up to something approaching £9m?.
Only my opinion but unless the spivs have included this seasons ST cash of around £8m before VAT(and CG said the accounts would include both seasons ST cash) then I don’t see how the £19m turnover figure was reached,especially in a business that usually makes the bulk of its income in the first half of the year.


Recent Comments by torrejohnbhoy(@johnbhoy1958)

THAT Debate, and the Beauty of Hindsight
easyJamboMay 3, 2017 at 10:11 
torrejohnbhoy(@johnbhoy1958) May 3, 2017 at 10:00  Good morning all. not been as active on the site lately as I would like.Grandparent duties seem to be more time consuming than I thought . Trying to keep up to date though. Thought it may be of interest to some that it appears someone has successfully petitioned the court to have MIH(IL) re-instated at Companies House,9 months after being put into liquidation. ============================== I have an hour or two off grandparenting duties just now before a nursery pickup, so I’m catching up too.
That is an odd one re MIH.  There is no indication on the document of who has requested that the company be reactivated, or why.  Perhaps it’s been in Bill Miller’s incubator for the last few months, and is ready to emerge as a healthy new company having been cleansed of its tarnished past, not to mention £700m of debt.
===================================
Sorry for taking a while to get back,EJ.If I’ve mastered this link pasting thing you may find some more info here:

https://t.co/ZZUECmsdur


THAT Debate, and the Beauty of Hindsight
Good morning all.
not been as active on the site lately as I would like.Grandparent duties seem to be more time consuming than I thought19.
Trying to keep up to date though.
Thought it may be of interest to some that it appears someone has successfully petitioned the court to have MIH(IL) re-instated at Companies House,9 months after being put into liquidation.


Small Price to Pay?
SmugasFebruary 7, 2017 at 16:35       Rate This 
Cant do linkey things but BBC reporting BDO are going after D&P.
Interesting development. 
————————–
Here you go:
The liquidators of Rangers Football Club plc have launched a multi-million pound legal action against the company’s former administrators.
The claim has been lodged by BDO against Paul Clark and David Whitehouse of accountancy firm Duff & Phelps at Edinburgh’s Court of Session.
BDO are seeking up to £28.9m following Clark and Whitehouse’s handling of the administration process.
Rangers entered administration in February 2012.
Four months later, the company’s business and assets were sold to a consortium led by Charles Green for £5.5m.
BDO were then appointed as liquidators, and have since conducted a review of the events leading up to administration through to the sale of the assets.
‘No other option’In November 2014, BDO agreed a settlement for £24m in a claim against Collyer Bristow, the legal firm that acted for Craig Whyte in his purchase of Rangers Football Club plc from Sir David Murray in May 2011.
Those funds were added to the creditors’ pot, as will any monies raised from the legal action against Clark and Whitehouse.
In a statement, BDO said: “The joint liquidators, following extensive deliberations with their professional advisors and the liquidation committee, have taken the decision to issue a claim against the former Rangers’ administrators Paul Clark and David Whitehouse, of Duff & Phelps.
“During the course of the liquidation, questions have arisen regarding the strategy previously adopted by the former administrators, which have not, to date, been adequately answered.
“In seeking clarity, the joint liquidators have been left with no other option but to pursue the matter via the Scottish Court. The joint liquidators look forward to the resolution of this matter.”
Criminal charges against Clark and Whitehouse relating to their involvement with Rangers Football Club plc were dropped in June 2016.
Duff & Phelps have been approached for comment.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-38896812?utm_source=dlvr.it&utm_medium=twitter


Peace – Not War
Afternoon all.
It seems this mornings RIFC AGM can be summed up as follows:
1. It’s Ashleys Fault.
2.We’re skint.
3.We’ll need to borrow more for the forseeable future.
No word on Res 11 with result of the vote to be announced next week.I’d have thought by now the RIFC board would have an idea of how things stand.They did say that the Ashley/Easdale alliance would not be supporting the resolution.Same old stuff about “getting back where we belong”,challenging CFC & competing in Europe.No one explained how admitting that borrowing will need to continue for seasons to come sits with UEFA & their FFP regulations.I’m sure the SFA are on this as we speak.
No real sign of drum beating,though.FWIW.the directors looked broken when boarding the bus when leaving the Armadillo.They couldn’t look anyone in the eye.No statements,smiles etc.Mark Warburton even had a “minder” when being interviewed.
Normally,reading between the lines I’d have said they’ve lost Res 11 but with most things RIFC/TRFC,you just don’t know.


Peace – Not War
Evening all.
Interesting wee twitter debate earlier wrt a hypothetical insolvency event at TRFC and what the penalty would be.
If a new club,then 15 points but if the same club then 25.
The problem for the SFA(maybe why Regan’s a target) is that if they don’t administer a 25 point penalty then how do they explain 15 without admitting TRFC are new,something they have refused to do for over 4 years.If they did go for 25,they would then face the wrath of the TRFC fans who believe that,although they’re the same club,it should be 15 points because the club wasn’t liquidated last time,just the company!
Their refusal to apply the rules last time and then be a willing accomplice in a plot to lie to every football fan in Scotland has left them between a rock & a hard place.There’s no way out.


About the author

Avatar