No Euro Footy for the Bears For 3 Years

What about Leeds?

Before someone states it, the 1994 situation with celtic was not a newco. Different circumstances.

Both methods retain the history though

What about Leeds?
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They confirmed to Alex Thomson today that they exited administration after agreeing a CVA. Something Mitre has been denying all along. No CVA=NO History

CelticDavie,

Where was this confirmed? Its clearly wrong as KPMG clearly state that it was never agreed and that a CVL was applied instead.

Mitre- According to Thomson from Leed themselves. "@alextomo: @tagsbo well LUFC tell me they did - you wanna call Elland Rd?"

Now it's not like the painstaking work you have put in on the subject but it's Leeds saying they agreed a deal with 75% of creditors. Leeds and the other Newcos mentioned by Doncaster last night all had one thing in common; 75% of creditors agreed to a penny in £ deal before transfer of assets to Newco.

Davie,

I had a very long conversation with Gerald Krasner, who is a very nice gentleman by the way, around this very same situation. He is an insolvency expert.

He was in charge of Leeds during their troubles. He confirmed to me that a CVA was never passed. This is backed up by the official KPMG notes which i have posted many times.

Trust me, im correct on this one.

CD - I'd go with the officially and legally published record rather than the ramblings of a non football journo trying to make a name for himself.

What I've read it says they got an agreement from 75% of creditors but HMRC challenged it on the final day but then dropped that challenge. Because they had 75% agreement from creditors the FA must've allowed them to transfer under "exceptional circumstances" rather than the CVA. But why should that matter anyway? those rules don't apply in Scotland.

Just curious mitre, what did the creditors actually get in the pound compared to what was agreed on the CVA? Was it the same amount?

I'm pretty confident that with the media frenzy and what Doncaster is saying a Rangers Newco will be back in the SPL next season maybe with some sanctions. I liked the idea of how you could get round those sanctions; Newco before the last game of the season and turn up and try play the game. If the SPL doesn't stop you then you could argue you should have any sanctions because the Newco has already played in SPL.

Cooper- Thomson is "making a name for himself"? I really don't think he needs to tell stories about a club in a footballing backwater to do that.

CelticDavie,

Not sure where you have read that, but its not quite giving the full picture.

The creditors ended up getting a share of £1.7m from the CVL once the CVA was deemed as impossible to pass due to not having enough consent from the creditors.

SO why has Thomson bothered getting involved? For the good of mankind? No, he has done it to promote himself as some sort of "i'll tell the TRUE story", and come up with hee haw.