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Everything posted by The DA
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This whole idea of syphoning off the assets and leaving the toxic debts behind just feels wrong. It's like me watching out for a local business, let's say the RBS, and then offering to buy them, debts and all, for a fiver. I then set up RBS 2012, move all the assets over and tell the original creditors to get tae. Why are none of Rangers creditors (HMRC, Ticketus, United) objecting to this asset stripping? It just doesn't sound legal.
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I've just been reading through the summary of that MLM Solutions live event. I know it's just one expert's opinion but it's still a bit of an eye-opener and well worth reading. One thing was mentioned in passing that made me sit up and take notice. Rangers, in playing on to the end of the season, will be awarded SPL prize money for their second place. Stop and read that again. They're being rewarded for cheating(*). Can't the SPL withhold that prize money and use it in part-payment of Rangers debts to United, Hearts, etc? (*) I know they haven't offiicially been found guilty of cheating (yet) but it does stick in my craw.
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Apologies if someone's already posted along these lines (and with a bit more info than I have) but I've been looking at the timing of a possible AVC. Right now, Rangers debts total around £60M the £55M that Haudit & Daudit published earlier plus the £4M for the Wee Tax Case. Since 75%of creditors need to agree to the terms of an AVC, I assume that HMRC plus Ticketus control that decision between them. No other sensible split of the creditors adds up to 75%. If H&D wait until the Big Tax Case decision comes in (pre-appeal), that takes the total debt up to around £135M and HMRC (£93M) just about hold the deciding votes all on their lonesome. In either case, will HMRC settle for 4p or 10p in the pound when they can wind the company up and get 50p or 60p in the pound? I can almost imagine Hector agreeing to an AVC now if he thought there was a chance of significantly more tax from Rangers in the future (jam tomorrow) but Rangers aren't going to be a financial powerhousefor years, possibly decades, to come - so that's not going to happen. They're fooked.
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Maybe I'm slower than most but I'm picking up on a gradual shift in the tone of media reporting of this circus. I think it started with Thomson's Channel 4 investigations and, while he was initially shouted down by those with a vested interest, most of those clowns are now keeping a lower profile and those without an axe to grind are starting to poke their heads above the parapet. When even their captive media won't stand up for them, I beginning to think Rangers really are fooked.
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Total transparency when we know the likely results? Morons who feel their very reason for being is at stake are... unpredictable. I have to admit that I'll be happier when the note of explanation is issued and Rangers have their chance to appeal those findings. But I have no reason to suspect that the 3-man panel did anything other than interpret the SFA rules fairly.
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Perhaps not a perfect analogy but close enough. The 3 were selected from the SFA 'population as a whole' and deserve a level of anonimity. If the SFA are prepared to back the decision of their members, that's all any of us needs to know, surely. Or do you think some SFA members might have an agenda?
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Jeckyll and Hyde reporting from the Record again. http://www.thescottishsun.co.uk/scotsol/homepage/news/4279497/SFA-sanctions-trio-on-terror-alert.html In one column, Hannah is shouting that the names of all 3 panel members should have been made public from the start (like your average jury!) while their headline screams about the effects of doing so. Idiots.
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Comedy shows used to be written by a single writer: Johnny Speight springs to mind. Then came comedy-writing partnerships, Galton & Simpson being my favourites. Cheers and Friends brought us the idea of comedy teams with anything up to a dozen writers involved in creating each episode. Now we have 50,000 Renagers fans penning my current sitcom favourite in real time. That's progress for you.
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What's all this cr@p from Paul Clark about there being at least 1 secret bidder (and mibbes mair in the oil pipeline)? Do the administrators have the legal right to keep this news quiet - the company's in administration, after all. I'd have though Her Maj's tax inspectors might like to know about this secret saviour, too.
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Just joined. I thought I'd post in here first so that I get my post count up above zero - don't want to look a virgin when i do my first real post.