6 Feb 2013

Revealed: Rangers winding-up petition

After some days of often feverish online speculation, I am now able to clarify the situation regarding the winding-up order which may soon be served against the Rangers Newco over a contract for services prior to the recent share offer.

Orlit Enterprises, based in Singapore, is seeking to petition the Scottish Court for a winding-up order against Rangers. Sources close to this legal action have spoken exclusively to Channel 4 News today.

This claim arises from the club’s alleged failure to pay two of the four invoices issued by Orlit. The outstanding sum is £400,000.

The source has clarified to Channel 4 News that Orlit Enterprises was contracted to source and introduce the investors who provided seed capital in order to acquire the club from the administrator and to secure the June 2012 payroll.

Orlit did not participate in either the pre-IPO equity fundraising or the IPO itself.

My sources indicated to me that there has been no satisfactory answer from the club as to its non-payment despite several requests. In the circumstances, the application for a winding-up order of the Rangers Football Club Limited – being the trading company obliged to pay the debt – is, my sources say, their only option left. Sources close to Orlit say they now have no other option than to embark upon winding up proceedings.

[UPDATE AT 18.24 BELOW]

Despite our best efforts it took Rangers several hours to respond to today’s developments. The club has just issued the following statement:

“With regard to stories circulating about Rangers and Orlit, the sums sought are insignificant and agreement has been reached subject to the necessary paperwork.

“Rangers Football Club is capable of meeting any debts presented legitimately and we would like to stress to our supporters there is no threat to the Club whatsoever.”

Tweets by @alextomo

149 reader comments

  1. GoofyBhoy says:

    this just keeps getting better by the day , cheers for the updates Alex , thank god for an honest reporter

  2. Barrybhoy says:

    It’s the gift that keeps on giving! At this rate they won’t see their 1st birthday

  3. Zombieslayer says:

    It’s amazing isn’t it, this has been mentioned on various online forums for a few days, and yet there’s still not been a mention of it or any questions being asked to SEVCO from any scottish journalist. Keep up the good work alex :)

    1. FrankieB says:

      From one the papers this morning:

      “Despite the claim, no evidence exists that a winding-up order has been served. The Daily Record could find no papers at the Court of Session in Edinburgh yesterday relating to an order against Rangers”.

      1. Bruce says:

        You are aware that the club confirmed this story, aren’t you?

  4. William Allan says:

    I believe absolutely nothing channel 4 broadcasts or publishes in relation to Rangers as every article is biased, as has been shown to be the case with many more of your so called articles.

    1. Bruce says:

      Dear William, if you remove your head from your backside you’ll find the air is fresher and the view clearer.

    2. Mea Culpa says:

      Just wondering William, if C4’s stories have all been works of fiction, how come RFC (oldco) have been liquidated?

    3. The General says:

      Were they biased when they said the old rangers club would be liquidated …. that did happen didn’t it … or maybe not in your world

    4. Scott Mc says:

      Billyboy

      This is exactly the kind of story that the Scottish media have ignored in the past when it involved a team playing at Ibrox. Thank God for the internet bampots and investigative journalists like Timmy Thomson

    5. Mick says:

      Off course you don’t believe the story. You never believed it either when everyone knew you were headed for liqidation. Keep burying your head and maybe it will never happen!!!!

    6. Squirrel says:

      you just keep your wee head buried in the sand there matey, it’s stood you all in good stead up until this point……..oh wait

    7. Brian coats says:

      Nonsense, I’m a bluenose and fail to see the bias

    8. Michael Quinn says:

      So its not just BBC who are against you but Channel 4 as well now what happens if ITV and Sky Sports report this as well does that mean the whole of british media is against you.

    9. John McGregor says:

      Haha. Some people just dont like to hear the truth. Bury your heads again and your club will die as the club before did.

    10. alfredthepict says:

      Grow up sonny boy !

  5. Jinky67 says:

    Hilarious. New Rangers going the way of the old Rangers within months of their formation!

    Get the bulldozers in.

    Hail Hail

  6. FrankieB says:

    We’ll see what happens. The anti-Rangers brigade shouldn’t get too excited by somebody I doubt they’ve ever heard of claiming to be owed money and talking about lodging a winding-up petition. Do they really think Rangers can’t pay 400k?

    1. Iain says:

      YES , I believie it , they don’t really have a good track record when it comes to paying debt and going bust .

      1. Stup82 says:

        Yes because Rangers track record isnt exactly promising is it! I dont think Rangers are doing as well as they would have everyone believe. They were desperate to get that share issue through and despite the Scottish MSM potraying it as a success it was deemed a failure. Rangers overheads are huge and despite having 44000 season ticket holders, they probably have some form of debt. £400K to a new club is a lot of money Remember Oldco had huge debts and they still had a huge amount of season ticket holders, kit deals etc etc. Also Chuckles is trying to sell the stadium name rights! the man reeks of desperation. IMO its a matter of time before the house of cards come tumbling down.

      2. Ronimac says:

        Rangers FC or Rangers Int are in good stead FINANCIALLY;
        I would look at your own clubs before coming out with utter nonsense, Its common business practice to ask for a winding up order for unpaid bills similar to you lot having your GIROS stopped..

        This is Rangers worth from my Share account London stock exchange

        Company address Ibrox Stadium, 160 Edmiston Drive, Glasgow, G51 2XD, United Kingdom
        Company website http://www.rangers.co.uk
        Market cap(in millions)* £ 46.14
        Listing/Admission to trading 19 Dec 2012
        Trading service SETSqx
        Market AIM *The market capitalisation of companies reflects the London listed element only. These figures are approximate and are updated monthly.

      3. Patrick says:

        The previous incarnation was valued at twice that sum, but still got liquidated. This is real, your living beyond your means and it’s catching up with you. Tic Toc

    2. Paranoid Tim says:

      They couldn’t afford a £46 face painter ….

    3. Jamie Roldos says:

      Why would they leave it this long to pay, and risk embarrassment, if they could pay?

    4. alfredthepict says:
    5. steggs says:

      Yes they wouldn’t pay a face painter last year and she was after about £90 !!

  7. Bert says:

    Great work Timmy Thompson. Your the only one whose finding stuff out and reporting on it. Regardless of how much it will displease The Rangers fans.

  8. Paranoid Tim says:

    100 years later ….

    The holding company of the original holding company of the club which became the holding company of the new company holding the interests of the previous holding company that had a club under the said stated original holding company formally named The The The The The The Rangers have been renamed Rangers 100. We will never die and our history is intact. We are the (Delusional) People

    1. 54 & counting says:

      You are well named Paranoid tim! Though perhaps u & yr mates should add”obsessed” to your names.- It’s all about the Rangers,the only show in town.

      1. John G says:

        54 & Counting – is that counting backwards? Won’t be long until the league titles disappear too! Never mind, Bomber Broon will appear on his white charger waving the title deeds just in time!

  9. james baird says:

    sounds simply like a disputed bill to me —nothing more nothing less

    1. Big tam says:

      Do you obsessed actually think Rangers can’t afford a bill of 400k if it was actually a winding up order? They’ve just raised over 20 million from a share issue. For god sake the rangers fans fighting fund could pay this bill.

      Winding up my ar*e!!

      Settle down and wipe that saliva from your chins!

      1. craig says:

        The main point is!!! the tables have turned! OUR COUNTRY is now safe as we have taken over! we run the SPL we run the SFA!! WE are now in the Scotland hot seat, We now have number 2 in the Scots post, WE ALSO run the under 19 of Scotland and SOON we will have independance!! YEEEHHAAAAAA its good to be on the right and honurable side, WE ARE TAKING OVER.

        EVERYONE KNOWS AND NOONE CAN STOP IT!!

        GOD BLESS

    2. jocky bhoy says:

      No sounds like an unpaid bill. The same thing that sunk OldRangers may put paid to the new version. After all what is a debt but an unpaid bill? Whether its £40k, or £40m, you don’t pay it, you risk administration or worse…

    3. Ignorance is no defence says:

      Can only be ‘disputed’ if there is communication ……… just ignoring it doesn’t make it disputed, does it? Pay your feckin bills for once…….but again some people just don’t like to change!

  10. Martin says:

    Of course it can only work in extracting payment from companies if they have the liquid assets to pay them, amongst other things.

  11. ricky concliffe says:

    sorry about the spelling errors but this man does my nut in.

  12. billyboy says:

    Should this article be found to be lies and rumour then I would expect Rangers to sue Channel 4 and pursue Alex Thomson for this slander. Afterall , he is only a journalist and I’d like to see the evidence provided to the Scottish media . There is always the chance that this may get thrown out or simply paid. Only Charles Green can state whether this is true or not. I await the Rangers official statement on this issue.

    1. alfredthepict says:

      Re Billyboy

      Dream On !

  13. Doc says:

    Let the Annual “St Valentines ibrox SURRENDER” begin.

  14. The General says:

    How many sports journalists are there in Scotland, yet not a mention anywhere …. too busy writing about boycots and suchlike …. well done Alex

    1. Big tam says:

      Maybe no mention because its a load of sh#te! You daftys really are obsessed man. Go and concentrate on your own club. They’re top of the league, involved in the champs league and your still on here drooling over the famous Glasgow Rangers. We’re the biggest show in town and you can’t handle it!

      Get a life!!

      1. Paulmac67 says:

        Big Tam,

        I believe you’re slightly confused. Most tims are certainly not obsessed over sevco there are much more important things to enjoy such as juve in the CL. Though surely you can appreciate the utter enjoyment we get from your demise and the sheer disbelief of the manky mobs mentality to not be able to wake up and smell the coffee.

        Just that little bit of news of your inevitable downfall(pt2) brightens up even the greyest of days. We know how much you’s can’t stand it and YOU cannot handle that…

        ‘Biggest show in town’ don’t make me laugh biggest joke in town more like.

      2. Ignorance is no defence says:

        There was more than one name change here…. Rangers to THE Rangers and Famous to Infamous

      3. brian mclaughlin says:

        hey Tam they´re the biggest laugh in scotland.
        Ha Ha ha ha ha

      4. james waddell says:

        listen im a rangers fan too……..explain yourself…how are we the biggest show in town…did you see us last week….pfffft..

      5. Declan says:

        Big Tam, I am a creditor who was cheated out of millions by a club which was liqudated, now a lie is being peddled by a new club that thay are one in the same, so you will excuse me if I watch this new club closely in case it uses the same financial procedures adopted by the dead club. I want to make sure this time that money which should have been paid for hospitals, day care, face painters etc even the army that the dead club were so proud of, get the money and equipment they need.

  15. KS says:

    So, essentially what’s happening is Rangers have a bit of money just now after the IPO, one of the debtors are being a bit heavy handed and Mr Thomson is posting this as a sensationalist piece to get more views from Old Firm fans to his blog. Pretty standard.

    1. MIkeB says:

      A bit of free education for you. Orlit is a creditor.

  16. sinkybhoy says:

    and only 8 days until valentines day :-D , well done alex just a pity more msm didnt have your backbone

  17. Brian says:

    Surely this is a new world record?

  18. tambo says:

    Phil Mac Giolla Bhain gave us the seed of this last Sunday.

    Thanks for filling in the blanks Alex.

    And as has been previously mentioned not as much as a cheep out of the laptoployal/MSM sports sections across Scotland.

  19. Scouse Boy says:

    It would seem that the Sevco fans still have their heads well and truly buried in the sand. We a have respected jounalist who states the true, not the MSM in Scotland who continue to pander to Sevco Green & Traynor. Well done Alex.

  20. ganzo says:

    this may just be a way to get the club with no debts to pay this debt but either way its a bit embarassing so close to the 1st aniversary of oldco going into administration

  21. neil says:

    It doesn’t surprise me that the MSM have failed to show any willing to pick up on this. This may well be a company beating its chest I order to speed up debt collection, but in light of the significance of the last year you would think this might well have generated at least a few lines.

    I’m not surprised by this latest failure because scottish MSM are practically fully ‘outed’ since the rediculous showing after its failure to inform decent Rangers fans. Being so far up the previous RFC owners ass and now falling over themselves in the attempt to courie favour with the current ownership is leaving them with their arses in the Ir once again and they don’t seem to care. That’s loyalty for you though and at least it’s clear for all to see now rather than being the dirty secret that it was.

    Whether this a,punts to nothing or finally drags TRFC under on and for all. This shows us that the food honest Rangers fans have been let down by their own kind attempting to protect their club. The lesson wasn’t learned.

    Hang your head in shame. Traynor is no longer your boss. Take the opportunity to ply your trade without fear. The real fans will appreciate you for it, in the end.

  22. Edward Clayton says:

    Delusional currant buns.

    Who would have thought it?

  23. HJC says:

    Big Tam, I was drooling over the result on Saturday, if that is the best Sevco can do we will be drooling over you remaining in the bottom echelons of Scottish football for ever, you were and continue to be rubbish. HH

  24. paul says:

    Old firm fans? The old firm tag died when that other lot did.

  25. ROBBBO says:

    Cellic supporters obsession with all things Rangers continues.

    1. Wee Craig says:

      only because it’s hilarious.

  26. Alan says:

    Again Alex since it was found you wrote the forward in a book for a man who the Press Complaints Commission agreed has sectarian undertones you have lost you’re credibility not that you had much too lose.

    Can I ask as rangers refuse to speak to you what method have you used to contact them ? and has the story been corroborated as good journalists should do , though as you only mention maybe’s and possible sources this is just an unsubstantiated rumour.

    Again rather than be honest and come out and tell us you’re true leanings you’re style of journalism only appeals to a small section of society as your’e viewing figures attest to, again sir it only seems an attempt to fester hate in society as some of you’re commenter’s prove.

    As you only seem to want to be nasty to one institution so you give you’re ego a boost from the HMS 402 fans who salivate over every word corroborated or not.

    Can I ask have you ever investigated why another Club’s company running it has to have the exact same company formed in a foreign country and is on the open corporate website HMS 402 No: SC223604 and in the foreign country 905831 , Both formed on the exact same day and currently running the club paying players wages, taking TV revenue , Gate Money including all European funds. You probably haven’t as it does not suit you’re agenda and as impartiality has no meaning to you we will not hear anything soon.

  27. Dave says:

    This is all complete nonsense, just like the last few years. Guilty till proved innocent.

    Great to see it’s mainly our opposition that have commented on this. If you spent more time going to support your own team than being a keyboard gangster, that would be a great help to your club. 15000 empty seats every 2 weeks. Take pride in your support. Oh wait, You’ll sell out the Juve game so you’ll be back to the best fans in the world. Pffffft

  28. del says:

    Wonder who will get the blame this time, might there be a Downfall part 2.Loving every bit of it.

  29. James Murray says:

    Calm down, Sellik fans. As even Thomson says, a winding up order is just a way of forcing payment of an unpaid bill.

  30. blair says:

    always seems to be celtic fans commenting on rangers related issues in the media obsession is turning out to be a tad annoying guys focus on your own team the seats look desserted at home games these days

  31. Tony Paterson says:

    Alex, any view on why, once again, you are ahead of the Scottish Mainstream Media on this?

    As for the Sevco fans denying this – do you not think Alex has verified the authenticity of this story before posting? Rumours have been circulating for a week.

    The attitude of the zombies once again showing why everyone but them thinks they deserve everything the get.

  32. Tony Paterson says:

    Where is Charles Green?

  33. schoosh71 says:

    Well done again, you are a credit to journalism. Have a look at ‘The Demise Of Rangers’ blog, well worth a look to all intrested parties. Who owns Rangers?

  34. trueblue says:

    hahahaha timmy get a life, don’t be so PARANOID about Rangers the Biggest club in Scotland. Worry about your own team trying to get bums on the seats. Oh sorry they are, they are dressed as Green seats. hahaha

  35. alexjamiesonjnr says:

    Its all about the rangers……yet again. what has this to do with Celtic fans….NOTHING but yet again there here talking mince! Away and worry about your own team or is that not enuff for you’s anymore??

    1. Tony Paterson says:

      lol you lot are so narrow-minded you are convinced it is just Celtic fans!

      I can assure you fans of all clubs are laughing their heads off at Sevco – get used to it.

  36. Stew says:

    Wow a bit of a non story there. Much the same as Kilmarnock having to agree a payment with Braehead Foods last month to stop a farcical winding-up order. To the lads time to drop the “if you say it enough times in must be true” in regard to Rangers FC continued 140 year History that has never in question. The very same Reporter here has even expressed the fact here.

    You would think liquidation of football clubs was a new thing, well its not.
    Chester City liquidated, Middlesbrough F.C. liquidated 1986, Charlton Athletic F.C.1984. in the case of Middlesbrough it was reformed under Middlesbrough Football & Athletic Company (1986) Ltd carrying over its full honours and history like all the rest. Napoli went Bust and liquidated Company changed from Associazione Calcio Napoli to Società Sportiva Calcio Napoli carrying over full History backed by Uefa and fifa recognising that the new company had full rights as previous clubs that have liquidated to there European Cup honour in 1988-89 and domestic honours since 1926. Parma entered into liquidation in 1968 and where reformed Parma Football Club (formerly Parma As Parma sociazione Calcio) It reformed again in June 2004 and hold all honours from 1913. Florentina was promptly re-established in August 2002 after liquidation as Associazione Calcio Fiorentina e Florentia Viola carry over full honours in the Italian championship 55-56 & 60-61 and Uefa Cup winners cup in 60-61. Rangers FC hold full European Honours and Domestic as indorsed by EUFA & FIFA or has the whole of European football changed the rules for just Rangers, yeah thought not!
    Some fans need to read up on the rules and regulations and history of the game.

  37. Patrick says:

    james baird
    If it’s as simple as an unpaid bill , why have Sevco not responded in any way,
    A very very damaging accusation, but still NIL,ZILCH,NADA ,HEE HAW MARJORIE DAW from sevco or whoevers hat they have on today.
    Their silence speaks volumes.

  38. Tom williams says:

    As a neutral on this I would just like to no why Charles green claims that rangers would be the most financially secure club in Scotland after a share issue he claims raised in the region of 20 million sold 40,000 plus season tickets and yet the club are still running at a loss the club are not even a year old and are coming up to the 1 year anniversary of old co rangers going into administration on st valentines day this only add’s to the embarrassment this club has brought on itself by financial mismanagement

    Toicfaidh’ar ‘la

  39. mikeybhoy says:

    Tam, we’re not obsessed it’s just good to wake up every day while we go from strength to strength and more truth comes out about your so called famous the rangers. Its the gift that keeps giving. Maybe the 50 thousand that are at every home game will be able to cover the 400k……….

    Hail hail

  40. Allystorn says:

    Where’s the evidence? If their is any, desperate non factual article again Alex have you ever thought of becoming an author, Disney films maybe, because your definitely A Mickey Mouse outfit ,keep up the fantasy articles and all these Celtic supporting dafties will keep you in a job

  41. ricky concliffe says:

    Winding Up Order – The Unsensational Truth
    Very quick blog to try and put a story that has been bubbling under the surface to bed.

    It is my understanding that the club was indeed hit by a winding up order for a sum in the region of £400k.

    But fear not this is not a reason to panic.

    In the world of business people fall out over invoices all of the time and that is exactly what has happened in this case when Orlit Enterprises (a company used by Charles Green’s consortium to source investors for the purchase of assets) hit the club with a £400k bill to be paid by the end of last year.

    The club, to my understanding, did not agree with the invoice and challenged its value and payment date. After some to’ing and thro’ing Orlit Enterprises issued a winding up petition against the club. (a tactic regularly used in the business world to force anothers hand)

    Rather than incur legal fee’s and the bad press of a court case the two parties got together and agreed a payment plan (which I believe is less than £400k) and also terms for that payment (which means the club does not have to pay it all in the one swoop).

    Many people on my twitter timeline have asked two questions regarding this:

    1. Does that mean we’re in debt
    2. Why not pay it all off at once?

    In answer to question 1 the answer is no. When you take out your mobile phone contract you agree to pay say £30 a month over 12 months. That means you owe your provider £360 but this isn’t classed as a debt. It’s a liability… much in the same way as RFC’s £400k invoice now is.

    A case in point shows that RFC’s largest liability at the moment is to people like me and you. Season ticket holders. The club has taken in approx £8.5m season ticket money but they still owe us half of the games on that ticket therefore they have a liability of £4.25m (approx) to us, the fans.

    In case of number 2 the reason we are not paying it all of at once is simple cash flow. Paying £400k mid season would maybe curtain other plans we have ongoing at the moment in terms of developing Ibrox, Edmiston House etc etc.

    By agreeing to a payment plan it just allows us to manage cash flow better.

    Again the mobile phone example is a good one… I’m sure most of us could pay £360 for our mobile phone contract up front but why bother when you can just build it into your ongoing cash flow?

    Main reason for this blog is to ensure that Bears are aware of the non-sensationalised truth behind this (rather non) story.

    Please retweet the link and put the Rangers family mind at rest.

    If you have any questions please contact me on @celticareanewco on twitter.

  42. Del says:

    Surprise surprise…another non story about Rangers FC (Then.Now.Forever)…and right on cue obsessed Bheasts are all over it.

    Alex…yet a spent force as far as this RFC reporting malarkey is concerned.

    Were still here. We’ll be back at the top in Scotland within a few years.

    Get over it.

  43. jonboy says:

    The biggest show in town!! the rangers have been knocked out of all tournaments entered so far, despite sitting top of div 3 they have not found it easy, other than the Scottish media bigging up (record breaking) attendance and share issues the news from ibrox often seems to be negative. Personally if it was the club I loved I would be embarrassed. I think the biggest shown up in town is more fitting.

  44. Francis Devine says:

    Winding Up Order – The Unsensational Truth

    Very quick blog to try and put a story that has been bubbling under the surface to bed.

    It is my understanding that the club was indeed hit by a winding up order for a sum in the region of £400k.

    But fear not this is not a reason to panic.

    In the world of business people fall out over invoices all of the time and that is exactly what has happened in this case when Orlit Enterprises (a company used by Charles Green’s consortium to source investors for the purchase of assets) hit the club with a £400k bill to be paid by the end of last year.

    The club, to my understanding, did not agree with the invoice and challenged its value and payment date. After some to’ing and thro’ing Orlit Enterprises issued a winding up petition against the club. (a tactic regularly used in the business world to force anothers hand)

    Rather than incur legal fee’s and the bad press of a court case the two parties got together and agreed a payment plan (which I believe is less than £400k) and also terms for that payment (which means the club does not have to pay it all in the one swoop).

    Many people on my twitter timeline have asked two questions regarding this:

    1. Does that mean we’re in debt
    2. Why not pay it all off at once?

    In answer to question 1 the answer is no. When you take out your mobile phone contract you agree to pay say £30 a month over 12 months. That means you owe your provider £360 but this isn’t classed as a debt. It’s a liability… much in the same way as RFC’s £400k invoice now is.

    A case in point shows that RFC’s largest liability at the moment is to people like me and you. Season ticket holders. The club has taken in approx £8.5m season ticket money but they still owe us half of the games on that ticket therefore they have a liability of £4.25m (approx) to us, the fans.

    In case of number 2 the reason we are not paying it all of at once is simple cash flow. Paying £400k mid season would maybe curtain other plans we have ongoing at the moment in terms of developing Ibrox, Edmiston House etc etc.

    By agreeing to a payment plan it just allows us to manage cash flow better.

    Again the mobile phone example is a good one… I’m sure most of us could pay £360 for our mobile phone contract up front but why bother when you can just build it into your ongoing cash flow?

    Main reason for this blog is to ensure that Bears are aware of the non-sensationalised truth behind this (rather non) story.

    Please retweet the link and put the Rangers family mind at rest.

    If you have any questions please contact me on @celticareanewco on twitter.

    1. listenteyerda says:

      Don,t have a mobile! Rangers ARE at Rest! Tweet!Tweet!

  45. lordmac2 says:

    good to see journalist picking up on story’s, and keeping the shareholder
    up to speed, as with any news about the rangers, as it cant afford to let its fans investments fail once more, i believe they still owe this debt but have decided to pay it back in installments so as it has not any effect in the cash flow status, with it being such a small amount 400k to a cash rich club, this should have been paid in a instance, looking at another account its saying there is one out standing with the scottish sports council dated july the 6th http://www.companiesintheuk.co.uk/ltd/the-rangers-football-club

  46. COLIN MCDOWALL says:

    Rangers have already agreed a repayment plan for this after questioning the amount and dates etc.
    the repayment plan is for a lot less than 400k.
    Really sad that there is a lot of sad individuals still wanting to see Rangers buried and I bet you Thomsons supports that Irish team.

  47. Wooly says:

    Desperate reporting!! It’s awe aboot the rangers ! WATP

  48. bluestu says:

    aye, well sorry to rain on your parade those of you who are rangers obsessed, but this is old news and was settled YESTERDAY. always one step behind lads. nice try though.

  49. AntoniousF says:

    It sounds to me like channel4 we’re just reporting What the group from Singapore said. nothing more nothing less. don’t See how that can be construed as channel4 having an agenda!

    Or maybe I am missing something.

    The most interesting thing is that Charles Green, who is very quick to make statements has remained quiet In the face of these accusations

  50. FrankieB says:

    From the official Rangers Twitter account:

    “With regard to stories circulating about Rangers and Orlit, the sums sought are insignificant and agreement has been reached…

    …subject to the necessary paperwork. Rangers Football Club is capable of meeting any debts presented legitimately…

    …and we would like to stress to our supporters there is no threat to the Club whatsoever. The matter is unworthy of further comment.”

    1. AntoniousF says:

      Looks like TRFC , based on their tweets, have substantiated that there is indeed some credence to this story.

      interesting times ahead

    2. shytalk says:

      you certainly no about the word STRESS !!!!!!!!!!!!!!!

    3. John G says:

      This is the real story here: Rangers Football Club pays debts! Isn’t it the Newco who pays debts? Aren’t they distinct entities? We’re told the “Club” is the same because it’s the “company” that went kaput, but now we’re back to the “Club” paying debts!

      A bit of a slip there from Jabba Traynor, not like him to reveal the truth.

  51. Seejee says:

    Anyone can serve a winding up order. Whether or not it’s upheld is another matter.

    ‘which MAY soon be served’, ‘is seeking’, ‘alleged’, ‘The source’. Isn’t this all a bit heresay and conjecture talk?

    ‘My sources indicated to me that there has been no satisfactory answer from the club as to its non-payment despite several requests.’

    My sources indicate that man may or may not have landed on the moon, despite no satisfactory answer to my requests from NASA. Oh no, wait there is circumstantial evidence worthy of being reported of moon landings.

    This article, on the other hand, is about as substantial as fish feces.

    And what ‘feverish online speculation’? From Celtic bogs and forums?

    I would say don’t give up your day job but unfortunately, there’s not a lot of money in reporting on forum speculation.

  52. alan says:

    my god ! look at the comments ! obseesion to the bone you only care about the gers ! get a grip n try supporting your own team for a change we dont want your kind any where near our club ya gave scotland a bad name dont try n associate with the countrys greatest institution bloody hell obssesion if such a fitting word for em lot

  53. kevin says:

    It still amazes me how seltic “fans” are more interested in rangers than their own club. If you took more interest in your own club you might manage to fill your stadium on a Saturday.

    1. John G says:

      Who says they are Celtic fans? Not paranoid are you?

  54. j man says:

    leggoland rules

  55. Jamie says:

    @ Billyboy

    “With regard to stories circulating about Rangers and Orlit, the sums sought are insignificant and agreement has been reached subject to the necessary paperwork”.

    Why would your club give this quote if it were lies? take your head out your ass

  56. kimbers1 says:

    Mr Thomson, At the start of your blog you said that you could clarify rumours regarding a winding up order regarding Rangers. No what you did was cause a frenzy by not waiting on a statement from the club. Granted buried within the blog is a view that Rangers might have a legitimate excuse why any bill was not paid,a fact i believe should have been made at the beginning of the piece before sensationalism took over. I see that the statement from Ibrox has been updated to the blog its a shame you did not wait unless yours is the only blog that works to a deadline.

  57. haha sevco says:

    it will all come back to this new club and all the money they have!!
    get a grip they have no money.need a new manager.new team.

  58. Heartz says:

    Orlit Enterprises? Aww I was hoping for Mr Custard.

  59. Daniel Baillie says:

    Alex Thompson
    Aaah usual sh— for our Hun hating
    Reporter .
    Get a life , with all the usual tosh bout the Gers , I love all your little stupid followers on here like the priest and his choir boys
    Oh we better say no more
    WRTP

  60. Big John Phew says:

    How obsessed with us are Pnn State F.C. Big game at the phedodome next week and its still all about Rangers

    1. Tony Paterson says:

      “phedodome”?

      Just your average Sevco fan. Offensive, full of hate, and with a horrific grasp of the English language.

  61. Zac says:

    Another non-story. Imagine my surprise.

  62. Young says:

    Get your facts right more lies from a celtic mouthpiece !

    RANGERS WEBSITE : WITH regard to stories circulating about Rangers and Orlit, the sums sought are insignificant and agreement has been reached subject to the necessary paperwork.

    Rangers Football Club is capable of meeting any debts presented legitimately and we would like to stress to our supporters there is no threat to the Club whatsoever.
    The matter is unworthy of further comment.

  63. Raymac says:

    A question. Would anyone here undertake building or any sort of work for The Rangers(The Norwegian Blues)without payment up front? I think the majority know the answer to that.

  64. JC says:

    This just reeks of cash-flow issues! Nasty but common practice. If your cash flow projection is that you are running out of money you stiff your one-off creditors so you can pay staff and regular suppliers etc

    Wonder when the VAT and PAYE bill is next due?

  65. henry says:

    Seriously is this even worth reporting. So what you are telling us is that a supplier (Orlit) is chasing a couple of unpaid invoices! Seriously!!! Thats not worthy of C4 reporting or reporter. Its actually quite clever of Orlit to make the attempt to call for a winding up order in the full knowledge that the media would report it thus embarrassing Mr Green into paying. Clever move and its free, no lawyer involved, no cost.
    Rangers currently have around £20m in the bank. I think that should cover any £400K invoice.

  66. GERRIEBHOY says:

    is it newco old debt or oldco new debt, or jist mair debt.

  67. Oshi7 says:

    As a neutral (Arbroath fan) you have to laugh at the ignorance when it comes to our football. I like how non Rangers posters try and slip in new club etc when everything regarding Rangers football club and history is no different. A different holding company yes and a rebuilding job to be done yes. It must really hurt some that Scotlands most successful club has carried on regardless of financial setbacks. Every two weeks Rangers fans do what they do best and support there club to the embarrassment of all the SPL clubs being the best sported domestic team in the country. Most in the SFL are looking forward to there progression into our leagues, it might be a low moment in Rangers 140 year history but will be quickly forgotten about ten years down the line when they are adding titles to those already won in Scotland highest tier. For me this flagged up in SFL news as Rangers are apart of us what Cletic fans are only proving by commenting is how much Rangers is very much still Rangers or why would they bother, but then some on here have shown very little respect for actual regulation and Uefa rules regarding Rangers past situation that are Fact!

  68. Redfive says:

    One thing no one should do is listen to or read anything Alex Thomson says about Rangers. He is an obsessed Rangers hater along with Phil McMultinames. Alex mate, stop running scared of the Rangers. Just another laptop warrior with an axe to grind and an agenda. Pop along to Govan this Saturday 3pm. It’s a worldwide phenomenon, bring a news crew, other countries have sent them. You might just regain some credebility and get a story too!

  69. ROBBBO says:

    Oh dear Alex, “Despite our best efforts it took Rangers several hours to respond”.

    So Rangers are meant to be at the beck and call of second rate journalism.

    You really are scraping the bottom of the barrel with this non story.

  70. paulmmartin says:

    so was there an actual winding up order then ??
    or was it a wind up ??

  71. TallBoy says:

    Once again Sevconians have resorted to their usual tactic of trying to “shoot the messenger.”

    I take it you and your postie have had your briefing from Special Branch, Alex.

  72. Allystorn says:

    Obsessed the tims are obsessed ha ha ha

  73. Jim Patterson says:

    Great to see one reporter doing a proper job.

  74. jinky7 says:

    Frankly, the fact that ‘the rangers’ are adopting the silence on this would scare the s*** out of me if i was born an orc baby. Youre lot have got some nerve defending that joke of a club when they refuse to abide by the laws of business in refusing to pay your debts. This is the reason your in the mess your in.

    To quote your own song. ‘no one likes us, we dont care’.. You should have that on the new ‘The Rangers 2013(still 140 years of ‘glorious’ history)’ club crest. Nobody likes you coz your everything thats wrong with this country.

  75. Grant says:

    Can’t believe alex Thomson gets so much reaction when he can’t be trusted to identify the colour of an orange,
    Excuse the pun

  76. Andy says:

    Have the zombies paid the face painter yet

  77. Andy says:

    Kevin we just like watching yous suffer and ur 1 to talk about filling stadiums

  78. FrankieB says:

    Mr Thomson says: “Despite our best efforts it took Rangers several hours to respond to today’s developments”.

    I’d say Rangers responded pretty quickly, especially since Charles Green is out of the country. Is Mr Thomson angling for a job at The Sun?

  79. LizzieW says:

    Mr. Thomson,
    With such an huge following in and around the east end of Glasgow admiring your investigative journalism and obvious local interest, I would welcome viewing some of your research into how the huge cuts announced by the Scottish Parliament today is going to affect services within the Labour controlled Council.

    IMHO I find it incredible that a story relating to a club in the Third Division of the Scottish Football League can create so much feedback when the Scottish Budget was discussed today.

    I could make some allowances if the majority of the comments were from supporters of Rangers F.C. – but it appears that the majority are actually supporters of another Glasgow team.

  80. Caliban says:

    Well Alex, for somebody who quote “roams across the news agenda” unquote you spend an awful lot of time writing about a Scottish Football club.
    I rather suspect that anybody outside Glasgow, or worse, over the border couldn’t really give a fig about Rangers.
    Why not find something that matters to write about?

  81. John says:

    Why do rfc fans continue to cheer embaressment? After all the trouble they have brought on themselves throlugh financial mismanagement, one would think the ‘club’ or ‘holding company’ or someone associated with rfc would have nipped this in the bud and issued a statement clarifying the situation? If it is a anothing story why cause undue heartache or concern? At the very lease CG, JT et al must have know the rfc fans would be getting verbals from the rest of Scottish football?

    The lack of any mention regarding this in the SMSM is now, unfortunately, not a surprise. It appears most reporters in Scotland would rather not discuss, investigate or even be seen to be doing so? A sad sad time to be honest. All over the world I see good sporets journalists asking probing questions, not only about first team affairs but about the business side of the clubs in question as well?? If a known Essendon supporting reporter didn’t question James Hird about drug allegations here in Melbourne, he would be laughed out of the industry and other fans would veiw him as a coward or a fake! While back in my homeland, reporters go out of their way to hide their(mostly well known) allegiences, as well as activley trying to tell supporters what they want to hear rather than what is actually happening?? It is all very strange and I can not understand why this is??

    Alex, do you have much interaction with the print media in Scotland? If so I would be very interested to know your thoughts on their merits as journalists and also if they are similar to other sports journalists you have met across the globe?? Keep diggin and keep safe

    John ;-)

  82. HNJ says:

    More sensationalist guff from Channel 4s leading Rangers hater Alex Thomson. Embarassing garbage. Feeble effort from a poisonous fool.

    1. Tony Paterson says:

      why are you guys so full of hate?

      can’t you lot defend yourself without venomous reaction?

      queer bunch.

  83. Blooman says:

    Why have THE Rangers been allowed to continue to trade as “the same and always will be”, does this not breach laws related to the continued trading of a liquidated company and how credit might be granted on the basis of “business as usual”???

    Why does the Scottish press not follow the lead with this article from C4???

    Why does the Scottish media not tell us how the share issue went??? Details???

    Why does the Scottish media not refer to “THE” Rangers which is the legal company name???

    How can a company advertise itself free of debt but the same old company name on their products???

    Oh, aye, of course they are all anti-Rangers … or should that be anti-“the”Rangers???

  84. johnbhoy says:

    …obsession LOL, catch a grip zombies, it’s a circus act where the laughs just keep coming and admission is free.
    Again, outstanding journalism from Mr Thomson

  85. rfc 1873 ~2012 says:

    no debts mr green?
    This and othet debts I would asume are the reason for the rushed and unsuccessfull sevco share issue.

  86. Its Me says:

    The fact of the matter is the story is correct, though as previously stated, a little late. The WUO was issued but a payment plan has been agreed. The fact this debt exists has been confirmed by the club themselves, so can’t uderstand why fans of the club are denying it.

    Thomson has been a tad sensationalist with this report, but that is a journalists way. The main question that remains is why would a company so cash rich and debt fee need to set up a payment plan. I note that Francis Devine states that it frees up cash for stadium renovations and such like but according to the Share Prospectus thats what the possible 20 million was for. This debt certainly wont kill off the club again but it is a definite sign that things aren’t as rosy as Charles Green would have people believe.

    1. Auldheid says:

      The Prospectus said £5M was for stadium work and £4M for Land Purchase.

      If £22M was received then that is covered without any payment arrangements required. Unless the £22M is not all cash and other bills need paying from it.

      The possibility of a cash shortfall from the share issue is what should concern a supporter.

  87. Jim Graham says:

    Looks like the dhims are actually stupid enough to believe a £400000 bill will bring an end to the most successful club in the world.

    Nice to see they are still obsessed with Rangers though. And the money they will make from the champions league will be lost on the sale of hooper when he goes for £1m in the summer

    1. Bruce says:

      You don’t pay much attention, do you? No one’s claiming that debt will put the new club under. But after all Chuckles bluster about cash in the bank and being debt free its a strong indicator that all is not as rosy as Chuckles claims.

      But then, going by your silly comment about CL money and Hooper, figures clearly aren’t your strongpoint.

  88. james biard says:

    alex –have a look at frankieb s comment above—–

    go on call charles a liar —I DARE YA

    by the way we are still waiting on your apology regarding the EBT fiasco

    rangers then rangers now rangers forever WATP

  89. P4arky says:

    The PIed Piper strikes again. Play a tune the rats like and they will follow. Another part of the witch hunt from this obsessed dead beat.

  90. Redfive says:

    I note my comment was well and truly moderated (not there) however let me extend the invitation again to Edmiston Drive, Govan this Saturday for the Original
    Glasgow Derby.
    Rangers v Queens Park

    Bring a news crew, others have sent them from around the world, get a story ( a proper one) It is a Global Phenomenon.

  91. Crossmaglen Bhoy says:

    Delightful news, this calls for more servings of Jelly & Ice-cream.

  92. rfc 1873 ~2012 says:

    Lizzy W are you for real?

    Just a note on jabbas official statement. Rangers football club can pay all its debts? Is it now the clubs debts? I thought it would have been the holding company like old co? No? Make it up as you go along!

    Zombie fc fans, if your club would have done the correct and moral thing and owned up to your debt and past failings then maybe you could have been excused for calling yourself the same club but since you let your club die owing millions you have to live with the fact your beloved rfc are deid! Gone forever! You should have taken the same approach as Portsmouth, a bit of DIGNITY!

    1. LizzieW says:

      I was merely pointing out,sir, that there might be other issues in the west of Scotland that, perhaps, Mr. Thomson could direct his research skills towards for the benefit of a wider audience rather than spend valuable time of this subject, which appears to appeal to a minority.

  93. atw says:

    Someone is lying. Either an agreement is reached and the Singapore mob are lying or Rangers are….. Hmmmmm.

  94. Friartuck says:

    Was brought up in the Celtic tradition , fell by the wayside in the Davey provan / Derek Johnstone era, been busy getting on with life until st Valentines day 2012 then my interest was reignited in a big way. I have every day sought out anything and everything on line re this story . Initially incredulity re the ramifications of all that had happened under the auspices of sdm/cw. Now reading this I have a modicum of ‘wtf’ for true rangers fans, it is a torture by a thousand cuts. The new regime has an air of déjà vu! The fans are in the hands of money men and are being manipulated , they know it but what else can they do?? The bragging rights will continue for generations. In time things will settle. I predict that no team from Scotland will emulate what happened in 1967, (the reason for where rangers are now, financial doping is the scourge of our game) I enjoy Alex’s blogs on these multifaceted issues, can appreciate both sides of the divide, but ultimately they are GUBBED

  95. Doug says:

    I’ve seen it all now! A Paedo FC supporter calling on another club to do “the correct and moral thing” These people have no shame!

  96. Celticrsoapdodingscum says:

    I for one am looking forward to a Celtic, Dundee united Scottish cup final at Hampden, and a great big gas main explosion that flattens the stadium and kills everyone in it.

    1. John G says:

      Not bitter are you? How do you get through the day? It must be really tough, watching the Bhoys in green go from strength to strength, mixing it with the likes of Benfica, Barcelona, and Juventus while the New Club crashes out of cup after cup, with increasing humiliation.

      But chin up, I hear there’s another World Record been smashed – Super Ally has just exited his SEVENTH cup competition in 17 months! You have my sympathy, I’ll light a wee candle for you.

    2. Jim Patterson says:

      I must say thanks for the laughs I got when I noticed that you can’t even spell your username correctly ! What a fool :)))

  97. Doug says:

    Did I strike a nerve Alex? Or are your highly questionable Syrian adventures a banned topic on here?

  98. kevin gallagher says:

    Is that all rangers fans have got left bigoted hatred there new club is nearly one and stuck in the lowest tier of Scottish football while Celtic are in the champions league last 16 and go from strength to strength chuckels green is a joker and allys a clueless manager enjoy playing the mighty Clyde on saturday

  99. Fra says:

    Bluestu..6th Feb, it has all been settled. Haha. Have you locked the door of your bedroom to escape the truth. Where did your info come, your wee mate Billy Mason. Still not settled mate and its now the 11th Feb. Doomsday beckons my friend

  100. craigy1314 says:

    who cares what you, your sources or any other of the anti Rangers brigade think.
    Get a life.

    1. Tony Paterson says:

      Erm at the risk of stating the obvious, you clearly do Craig – you’ve just commented on this article 2 months after Alex wrote it! Would have thought that would be obvious, even to a zombie.

      Anyway lots of legal bills to pay down Govan way…perhaps concentrate on those.

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