AND180Y Posted March 7, 2012 Share Posted March 7, 2012 Mr Whyte? Are they all solvent? That was actually funny. 0 Quote Link to comment Share on other sites More sharing options...
Disco Duck Posted March 7, 2012 Share Posted March 7, 2012 I think the thing that may ride to the rescue in the midst of all the conspiracy theorists is UEFA's view. They've not been too fond of Rangers in the past, and the legion of fuckups, coverups, cheats and scams that are now coming to light may see them step in to force the SPLs hand. Anyone have Platini's email address to hand? 0 Quote Link to comment Share on other sites More sharing options...
chico Posted March 7, 2012 Share Posted March 7, 2012 I think the thing that may ride to the rescue in the midst of all the conspiracy theorists is UEFA's view. They've not been too fond of Rangers in the past, and the legion of fuckups, coverups, cheats and scams that are now coming to light may see them step in to force the SPLs hand. Anyone have Platini's email address to hand? Platy1982@rangersmedia.con 0 Quote Link to comment Share on other sites More sharing options...
Huck The Fibs Posted March 7, 2012 Share Posted March 7, 2012 This thread is great. That is all. 0 Quote Link to comment Share on other sites More sharing options...
Uncle Psychosis Posted March 7, 2012 Share Posted March 7, 2012 Somebody has shat in the metaphorical teapot. Give this man a greeny, I just snorted tea all over myself laughing at this! 0 Quote Link to comment Share on other sites More sharing options...
Gaspode Posted March 7, 2012 Share Posted March 7, 2012 So, are we to assume that administration, leading to liquidation has been planned all along by Whyte (and possibly others) with the sole objective of leaving HMRC high and dry, and with the debt run up in Whyte's 10 month tenure, plus the big tax case simply disappearing into the ether? I can't help thinking along these lines. And surely SDM was involved, at least in the planning stages - a businessman along the lines of murrays experience must have known exactly what type of shady character he was dealing with in whyte, and given the enormous sum involved in the big tax case then I'd think this could be seen as an acceptable way out. I don't, however, think that D Murray knew that Whyte was then going to use the ticketus money to pay off the bank debt, or that he was going to stop paying hmrc the tax and NI as soon as he took control. Given that Whyte has been involved in over 20 administrations/liquidations in the past I can't believe this wasn't planned in some way. 0 Quote Link to comment Share on other sites More sharing options...
BinoBalls Posted March 7, 2012 Share Posted March 7, 2012 Below refers to a "normal company", I think there is something about the league membership that might make it more tricky. There would be no continuation company, if a phoenix company was to buy the assets of the current The Rangers Football Club it would be renamed as for example Rangers Realisations (retaining the company number SC004276) the new co might be formed with a name like New Rangers and a company number SC4XXXXX. (Both companies submit name change requests at the same time). Name and assets transfer to newco (now The Rangers Football Club) and liabilities remain with oldco (now Rangers Realisations) which would be liquidated. It wouldn't be the same company so no risks unless the board of directors was essentially the same. There has to be a huge downside to doing this, otherwise why didn't Airdrie do it? Why don't Portsmouth do it? It seems so inherently unfair in a sporting context. I think if Rangers do go down this route, the SPL will privately welcome them in with open arms, but publicly slap them with a 30 point deduction, which will mean one season finishing 8th or something. After that it's business as usual, God Save The Queen, Rule Britannia, and two fingers up to diddy team fans everywhere. 0 Quote Link to comment Share on other sites More sharing options...
phanni tikklar Posted March 7, 2012 Share Posted March 7, 2012 So if rangers go bust before the split will it be top 5 and bottom 6,or top 6 and bottom 5? 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted March 7, 2012 Share Posted March 7, 2012 I can't help thinking along these lines. And surely SDM was involved, at least in the planning stages - a businessman along the lines of murrays experience must have known exactly what type of shady character he was dealing with in whyte, and given the enormous sum involved in the big tax case then I'd think this could be seen as an acceptable way out. I don't, however, think that D Murray knew that Whyte was then going to use the ticketus money to pay off the bank debt, or that he was going to stop paying hmrc the tax and NI as soon as he took control. Given that Whyte has been involved in over 20 administrations/liquidations in the past I can't believe this wasn't planned in some way. I don't think Murray had any choice. The Rangers debt to Lloyds was a tiny fraction of Murray Group's total debt of around £800million, and one Lloyds wanted rid of because of the bad PR. They had him by the short hairs. I'm sure it was a huge relief to him to get rid of it though.. 0 Quote Link to comment Share on other sites More sharing options...
Baxter Parp Posted March 7, 2012 Share Posted March 7, 2012 Entering administration in bad faith and with the sole purpose of avoiding the payment of taxes due is quite frowned upon by hmrc. It's pretty much the definition of phoenix fraud. 0 Quote Link to comment Share on other sites More sharing options...
AND180Y Posted March 7, 2012 Share Posted March 7, 2012 There has to be a huge downside to doing this, otherwise why didn't Airdrie do it? Why don't Portsmouth do it? It seems so inherently unfair in a sporting context. I think if Rangers do go down this route, the SPL will privately welcome them in with open arms, but publicly slap them with a 30 point deduction, which will mean one season finishing 8th or something. After that it's business as usual, God Save The Queen, Rule Britannia, and two fingers up to diddy team fans everywhere. The law changed post Airdrie I'm sure. The relevant changes were part of the Insolvency act 2000 and the Enterprise Act 2002. Portsmouth did in 2010 and the original company was liquidated. Link 0 Quote Link to comment Share on other sites More sharing options...
MacWatt Posted March 7, 2012 Share Posted March 7, 2012 Entering administration in bad faith and with the sole purpose of avoiding the payment of taxes due is quite frowned upon by hmrc. It's pretty much the definition of phoenix fraud. They can frown as much as they want but they can't touch a new company with different Directors. The Insolvency rules allow another company to rescue an insolvent one as a going concern. Being liable for outstanding tax debt would discourage this. 0 Quote Link to comment Share on other sites More sharing options...
HTG Posted March 7, 2012 Share Posted March 7, 2012 If the Rangers approach is successful it certainly provides a template for every other club in the division. The key is to run up a huge debt - no point doing this stuff for pennies - and then go through the 3 month process to emerge bearing a big shiny arse at all these fuckin idiots that pay their way. Vlad has made a good start but now he can shell out a lot more. Dunfermline have missed a trick - they should have spent like fvck in the transfer window. It's worth remembering that Rangers are where they are because on day 1 of his ownership, Craig Whyte has kept every penny of tax that has been deducted from the players and other staff at Rangers. Nothing to do with the big tax case. Everything to do with stealing other people's cash. If my company did that to me and then asked me to take a 75% wage cut they'd get a big middle digit by way of response. Frankly I'm stunned that any Rangers players are up for helping out tossers appointed by the man who stole their tax off them. If they return into the SPL - even with some token gesture of a 10 point penalty at the start of the next 3 seasons the ba' will be on the slates. Surely nobody outwith Rangers can stomach watching this league. 0 Quote Link to comment Share on other sites More sharing options...
Fife Saint Posted March 7, 2012 Share Posted March 7, 2012 Initial discussion held with potential buying consortium tonight. You'd think they'd lock the gates at Carstairs after dark. 0 Quote Link to comment Share on other sites More sharing options...
chico Posted March 7, 2012 Share Posted March 7, 2012 So if rangers go bust before the split will it be top 5 and bottom 6,or top 6 and bottom 5? In the event of that happening the 'f**k Inverness' provision applies and we go with a balanced top and bottom 5's 0 Quote Link to comment Share on other sites More sharing options...
AND180Y Posted March 7, 2012 Share Posted March 7, 2012 Frankly I'm stunned that any Rangers players are up for helping out tossers appointed by the man who stole their tax off them. The taxpayer makes up the shortfall the employees don't lose out!! 0 Quote Link to comment Share on other sites More sharing options...
Johnny van Axeldongen Posted March 7, 2012 Share Posted March 7, 2012 If the Rangers approach is successful it certainly provides a template for every other club in the division. The SPL will probably change/create some rules to stop anyone else from pulling a similar stunt. Save Rangers then raise the drawbridge. 0 Quote Link to comment Share on other sites More sharing options...
Jussy Posted March 7, 2012 Share Posted March 7, 2012 Just in and I must say, I'm delighted with what I've read. I had a feeling when I awoke this morning that today was going to be a really good day in this saga and whaddyaknow I still can't quite believe it though. They're dying before our very eyes, we are the privileged few alive to witness this moment. I'm going to really savour it. GIRFUY you cheating, bigoted, hateful scumbags. 0 Quote Link to comment Share on other sites More sharing options...
BinoBalls Posted March 7, 2012 Share Posted March 7, 2012 The SPL will probably change/create some rules to stop anyone else from pulling a similar stunt. Save Rangers then raise the drawbridge. Yes that wouldn't surprise me at all. 0 Quote Link to comment Share on other sites More sharing options...
Baxter Parp Posted March 7, 2012 Share Posted March 7, 2012 The current candidates cannot be considered new directors or independent in any way. 0 Quote Link to comment Share on other sites More sharing options...
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