Don’t know about that EUFA rule but I would have thought that the club involved would have to be able to show solvency in the event that the holding company went bust. The huns clearly could not. It’s one thing owning/selling a club when you are solvent but another in the case of liquidation.
Even if UEFA has such a rule, it’s the same situation as the SFA. They cannot dictate Scottish Company law. I don’t care (well actually I do) that Ibrox and facilities were sold to another company it’s the SFA transfer of history to the new company that rankles. It doesn't help that the court ruling stated BOTH were liquidated and the SFA maneuver seems to be in direct conflict with that ruling.
The shenanigans where Sevco were transferred the FULL SFA Membership under the 5 Way Agreement that UEFA refused to recognise as conferring continuing leading to the 3 year wait before the NEW club (Rangers FC Ltd) a could apply for a UEFA Licence under Rangers International Football Club a NEW company (neither of which existed before 2012) are covered in this post from CQN.
If this all comes out in the wash about the 5WA and the stitch up of Scottish football to benefit one club then I hope fans of other clubs are as angry as some Celtic supporters, they would probably have more leverage with their club to demand restructuring of and the removal from the game of those responsible, you cannot have one set of rules for one club and rules for the rest.
As for 55 not a chance a new club came into existence in 2012 Traverso from UEFA said so even though he wasnt asked that, why would he say that?
==================
He (Traverso) was speaking the language of Article 12 of UEFA FFP.
He was saying that there was no point pursuing the tax overdue non compliance charges relating to the monitoring periods in June and September 2011 because even though it was clear there had been non compliance with monitoring rules any sanctions relating to that period would have fallen into season 2012/2013 and by then the club who had failed to comply no longer existed and were replaced by a new club/company.
Now a lot has been made about the use of the word company in support of the idea Rangers always were a club separate from a company pre 2012 and not enough attention paid to the word “new”.
Traverso’s words in 2016 reflected exactly the position of the applicant for a UEFA Licence from 2015 when the club had served three years as a new club/company before being eligible to apply.
Before 2012 the applicant for a UEFA licence was Rangers Football Club. No other entity. Rangers Football Club was the name on the template used by applicant clubs.
After 2012 it was Rangers International Football Club i.e. a new company that applied for a UEFA Licence on behalf of Rangers Football Club Ltd a new club and although the accounts supporting the application were under the name of RIFC , the contents of those accounts came from the finances of Rangers Football Club Ltd. I’ve seen them on Companies House.
So before 2012 just a club existed as UEFA define one under a) of Article 12, after 2012 a new club/company under b) of Article 12 appeared and here is what it says:
” Chapter 2: Licence Applicant and Licence
Article 12 – Definition of licence applicant
1 A licence applicant may ONLY BE A FOOTBALL CLUB, i.e. a legal entity fully responsible
for a football team participating in national and international competitions which
either:
a) is a registered member of a UEFA member association and/or its affiliated
league (hereinafter: registered member); (Rangers before 2012)
or
b) has a contractual relationship with a registered member (hereinafter: football
company). (RIFC who are party to the contract – that has to be written- and Rangers Football Club Ltd who are the registered member of the SFA,NOT RIFC)
2 The membership and the contractual relationship (if any) must have lasted – at
the start of the licence season – for at least three consecutive years. Any
alteration to the club’s legal form or company structure (including, for example,
changing its headquarters, name or club colours, or transferring stakeholdings
between different clubs) during this period in order to facilitate its qualification on
sporting merit and/or its receipt of a licence to the detriment of the integrity of a
competition is deemed as an interruption of membership or contractual
relationship (if any) within the meaning of this provision. ”
In Rangers case the interruption as far as UEFA are concerned was permanent and they did not recognise the Transfer of the SFA Membership from Rangers Football Club PLC (oldco) to Sevco under the 5 Way Agreement to become Rangers Football Club Ltd , as conferring continuity.
They couldn’t without destroying the aim of Article 12 which was to protect the integrity of UEFA completions (something the 5 Way failed to do btw and I wonder if UEFA were ever consulted) and of course if the post 2012 applicant was the same as the pre 2012 applicant then any application in 2015 would have to have used the accounts of the club undergoing liquidation. Absurdistan thinking.
I hope that is clear and it is a reasons why the 5 Way should never have been signed as it sacrificed the integrity of our game for commercial reasons and has angered Celtic supporters since because it allowed a club guilty of cheating the rest of Scottish football to keep its ill gotten gains as a result of a flawed LNS Commission flowing from the 5 Way that again Celtic failed to challenge with evidence provided in 2014 and 2018.