Today was a good day for the followers of the Ibrox Holding Company Vehicle.
In fairness they have not had much to cheer themselves about recently and what is coming down the line for them isn’t much to be optimistic about.
However, the ruling on the compensation for Charlie Telfer will ,of course, assist with Liquidation Deniers.
Quite frankly it will provide a mechanism for shutting out reality.
In the immediate aftermath RIFC/TRFC put out a bullish statement that included this criticism of Dundee United:
“They argued the club in its current form has only existed for two years. It is disappointing Dundee United tried to pursue this tiresome, legally incorrect and provocative argument.”
This was then removed from the Holding Company Vehicle statement and something less expansive was put in its stead.
I really do wonder what the folks at BDO thought about the original statement.
They are of course the court appointed representatives of the old club and the original Sevco statement tonight seemed to speak of a certain continuity.
Of course if I was them BDO chaps then I would simply ask those Sevco fellows to cease and desist and down with that sorta thing, but hey that’s just me!
The wider issue is that if the liquidation of a football club is indeed no big deal then it can happen again at Ibrox, or anywhere else, and it will be no biggie.
In fact liquidation rather than administration would be an excellent way of, as Mr Doncaster would style it, “shedding debt”.
As long as you have first dibs on the main assets and the amazing SFA membership transfer could happen then every club in Scotland could get themselves one of those very handy Holding Company Vehicles.
Dundee United were understandably pissed at the decision and sources in Tannadice tell me that some directors think that Stephen Thompson could have handled this Telfer case rather better.
At this juncture it is worth being reminded just what was being proposed in 2012 by the people who run the national game in Scotland.
Had Mr Doncaster and Mr Regan had been successful then the current Holding Company Vehicle that looks after Rangers’ interests on earth would have been dropped into the Scottish Premier League (SPL) for season 2012-13.
The basic plan was for the 276 creditors to be stiffed and on you go.
In 2012 the people on the sixth floor at Hampden were quite happy for new Rangers to pretend to be old Rangers.
However the Fitba folk had other ideas.
It was only the intervention of the Bovril buying classes in the SPL who let the boardroom chaps know that if they allowed the new Rangers into the top league then it would be game over.
Then Mr Regan had a Plan ‘B’ and with the assistance of Mr Longmuir and the new entity was to be dropped into League one, the second tier of Scottish football.
Once more it took people acting with good authority to save the honour of the national game.
Turnbull Hutton and his colleagues said that they were not for turning and so poor little Sevco started life in the bottom tier.
If the creature created by Charles of Normandy makes it through to the summer then I can envisage a liquidation switcheroo scenario.
Then the stadium that John Brown played for and all of the spiritual assets of Rangers would be dropped into yet another Holding Company Vehicle.
The current shareholders would be wiped out and the owners of the new, ahem, Holding Company Vehicle would inherit the celestial entity that is Rangers and continue with the pretence.
Of course the unpacking of all of this self-serving nonsense is the core function of journalists.
However, the victimisation of Jim Spence of the BBC by the klan has probably scared off other journalists from stating the truth about the liquidation of Rangers.
The reality is that many are complicit in pandering to the denial of The People as to what actually transpired in 2012 when Hector knocked back the CVA for the original club at Ibrox.
For now The People are allowed to live within a denial bubble about the death of Rangers in 2012.
Until that reality breaks through then many of the Ibrox crowd will remain vulnerable to someone like Charles Green who simply told them what they wanted to hear.
