Stag Nation Posted May 15, 2012 Share Posted May 15, 2012 From £1 million in the bank, suddenly down come March 2012 to only £1 000. Now where could all that money have gone? That £1,000 has nothing to do with money in the bank, it's the share capital. 0 Quote Link to comment Share on other sites More sharing options...
T_S_A_R Posted May 15, 2012 Share Posted May 15, 2012 I was going to post the exact same thing. The problem he now has is that any sensible wealthy backer (and let's be honest, the vast majority of wealthy people didn't accumulate it by being stupid) will take one look at the books and do what Bill Miller done. Run for the fucking hills. if you are planning a newco the books are irrelevant. in fact - worse is better. 0 Quote Link to comment Share on other sites More sharing options...
kildog Posted May 15, 2012 Share Posted May 15, 2012 Too much doom and gloom in here today. Come on chaps. Cheer up. Rangers as they are now, are going to die and there is still scope for untold pain to be inflicted on the club and the support 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted May 15, 2012 Share Posted May 15, 2012 June 6th - Rangers get through a CVA June 7th - HMRC inevitably win big Tax Case, call in administrators, time to get the big liquidiser out. Now that would be utterly, utterly glorious. Now I'm no expert in this, but if Rangers by some flight of fantasy get a CVA passed, the company is still liable for the Big Tax Case? 0 Quote Link to comment Share on other sites More sharing options...
Spain Posted May 15, 2012 Share Posted May 15, 2012 Well if the SFA are going for the Euro Championships in 2020 then the Big Hoose will be needed. I believe you can't use more than 2 stadiums in the same city, so it'd be Hampden plus Celtic Park. Do not worry young padawan. 0 Quote Link to comment Share on other sites More sharing options...
Gaspode Posted May 15, 2012 Share Posted May 15, 2012 Wouldn't necessarily agree that creditors are bothered about where the money is coming from, as long as they get paid. They are not supporters of the club, but creditors. Let Rangers Media be judgemental about possible owners. (or did I mean mental?) I'm quite sure that I read (possibly on that lawyer guy's site) that HMRC will want to know who the investors are before agreeing to any CVA - reason being that they could be agreeing to receive payment from someone who has had previous for non-payment. What if Mr Whyte happened to be one of these 20 investors? Still think they wouldn't care who was on board? 0 Quote Link to comment Share on other sites More sharing options...
DeeGeeOneHamer Posted May 15, 2012 Share Posted May 15, 2012 I didn't think UEFA were doing joint bids... Would seem they are when the only other option is Turkey and given they are in for the Olympics that year and their current match fixing fiasco, UEFA seem quit glad of the option. Good chance some 'European' cash would be made available to get stadiums compliant. 0 Quote Link to comment Share on other sites More sharing options...
T_S_A_R Posted May 15, 2012 Share Posted May 15, 2012 June 6th - Rangers get through a CVA June 7th - HMRC inevitably win big Tax Case, call in administrators, time to get the big liquidiser out. Now that would be utterly, utterly glorious. Now I'm no expert in this, but if Rangers by some flight of fantasy get a CVA passed, the company is still liable for the Big Tax Case? i think they would be. why do you think the tax case result would come out on june 7th? i wouldn't have thought hmrc would be legally allowed to sit on the result until a date that suits them. 0 Quote Link to comment Share on other sites More sharing options...
Chuckinho Posted May 15, 2012 Share Posted May 15, 2012 No doom and gloom from me - this is getting exciting - especially as the SFA is YET to back down. 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted May 15, 2012 Share Posted May 15, 2012 i think they would be. why do you think the tax case result would come out on june 7th? i wouldn't have thought hmrc would be legally allowed to sit on the result until a date that suits them. I don't think it will. i just think it would be the best timing in the whole wide world. 0 Quote Link to comment Share on other sites More sharing options...
GirondistNYC Posted May 15, 2012 Share Posted May 15, 2012 1337073477[/url]' post='6238381']Celtic are a PLC. Anything other than a yes vote would be contrary to the wishes of the shareholders. I don't think it's as cut and dried as you think, and if it was, frankly Lol would have said so in his nothing interview the other week I'd agree with you if Celtic had an ordinary shareholder base filled with pension funds and index investors, but it doesn't. It has a majority shareholder who has stated in the past it's an emotional investment for him, some large shareholders who also can safely be said to have invested for reasons other than pure economic rationality and a diverse pool of very vocal small shareholders who are supporters who have held onto their shares and want Ibrox bulldozed and the ground sown with salt. I might still agree with you if the business case for Celtic keeping Rangers in was absolutely incontrovertible, but As Granny Danger pointed out at the very least a facially credible business case might be made for saying no. In the short term, saying no avoids a massive supporter backlash which might severely impact season ticket and merchandise sales and means less money has to be spent on players to have a decent shot of winning the SPL and getting a (soon the) CL slot. Over the medium term not having Rangers around would certainly have a negative impact but if they show up as Govan NewCo in three years as would be expected under most realistic scenarios then it's reasonable to assume the OF income generators would be as nothing ever happened. Certainly many supporter shareholders will be loudly making the case for no in the weeks to come. Suspect it would come down to Desmond and his mates, and they've been largely impervious to fan pressure to spend more in the past, but I'm pretty sure they'll view it through lenses other than purely "we need the Old Firm". You don't invest in Celtic because you love Rangers, and it's not clear even an ultra rational investor would want them in the SPL anyway. 0 Quote Link to comment Share on other sites More sharing options...
7-2 Posted May 15, 2012 Share Posted May 15, 2012 And murrayfield. That was still in the Edinburgh the last time I saw it. 0 Quote Link to comment Share on other sites More sharing options...
T_S_A_R Posted May 15, 2012 Share Posted May 15, 2012 I don't think it will. i just think it would be the best timing in the whole wide world. the delay on the tax case result is very odd to me. i don't know for sure but it would be odd if both parties didn't recieve the result as soon as the deliberations were complete. it started 8 months ago, how complex can it be? 0 Quote Link to comment Share on other sites More sharing options...
54_and_counting Posted May 15, 2012 Share Posted May 15, 2012 i think they would be. why do you think the tax case result would come out on june 7th? i wouldn't have thought hmrc would be legally allowed to sit on the result until a date that suits them. apparently the CVA will encompass the big tax case as it is effectively a debt the now that rangers are appealing, Plus dont be surprised if the case was already decided and we had lost, infact i think we had lost before it started 0 Quote Link to comment Share on other sites More sharing options...
greyman Posted May 15, 2012 Share Posted May 15, 2012 Forgive me for being a sceptic but when I hear east Asian investors in a football club all I can think about is the dispatches programme 'how to buy a football club'. Can remember the Kim Jong Il lookalikey phoning fergie and Bryan Robson selling his soul. 0 Quote Link to comment Share on other sites More sharing options...
Chuckinho Posted May 15, 2012 Share Posted May 15, 2012 That was still in the Edinburgh the last time I saw it. Just send the bears there and let them ter the place apart and take it back to glasgow on a love parade. 0 Quote Link to comment Share on other sites More sharing options...
thelegendthatis Posted May 15, 2012 Share Posted May 15, 2012 does doing this correctly involve electing people to westminster to scrap limited liability and allow restropective claims? i don't understand this argument at all. craig whyte and the catering company are apparently secured creditors, whatever money comes from liquidation goes to them first. that fact hasn't been mentioned for a while but it could be up to £25 million. if the end result of this is that hmrc force the liquidation of rangers but don't recieve a penny and a rangers newco are in the spl next season who retain ownership of ibrox and murray park the message that will be sent is that hmrc are mugs and there is no tangible penalty to evading tax. hmrc have acted very strangely on this issue. why didn't they take rangers to court over the unpaid paye? why has the tribunal still not reported despite it starting 8 months ago? i actually think they have known for a while that they are going to recieve f**k all here and are worried about bad PR. the best outcome for those who want the best deal for the taxpayer and for rangers to be long term crippled would be a cva that entails a long repayment plan of a large amount of money. the term liquidation conjures up a lot of OMG!!! and heavy LOL! responses online but they could feasibly do a leeds this summer without missing a step. £100 million versus history. it's not a hard decision if it's your £100m. Limited liability has nothing to do with it. The directors did not carry our their duties correctly, so now are personally liable. Don't blame me for that message, that came from the QC who produced the SFA report. It is there to be read. Secondly evidence has come out about directors agreeing that company documents (evidence) should be destroyed. No limited liability covers either of these. The law is not influenced by "history", which makes it an easier decision. 0 Quote Link to comment Share on other sites More sharing options...
Stag Nation Posted May 15, 2012 Share Posted May 15, 2012 It Seems Green won't announce his 20 man consortium until June 6th, and the fact that he has been phoning Freddy Shepherd makes me think that is all a load of shit that he has a 20 man consortium, he sounds like a man that is desperate to now get people on board and is trying to buy himself some time, by stalling on the identity of these other backers. Won't the members of the mysterious consortium also have to pass the 'fit and proper person' test? That might rule out some of the names suggested so far. 0 Quote Link to comment Share on other sites More sharing options...
7-2 Posted May 15, 2012 Share Posted May 15, 2012 I believe you can't use more than 2 stadiums in the same city, so it'd be Hampden plus Celtic Park. Do not worry young padawan. Wont Parkhead count as a Dublin stadium? Can't use Murrayfield as money would be lost from football renting a rugby ground...can't give money to these stuck up egg chasing b*****ds...it's not the traditional home of football...sorry, forget all that, as it suits our agenda you say? Anyway, back to the topic of Rangers and sporting integrity... 0 Quote Link to comment Share on other sites More sharing options...
T_S_A_R Posted May 15, 2012 Share Posted May 15, 2012 apparently the CVA will encompass the big tax case as it is effectively a debt the now that rangers are appealing, Plus dont be surprised if the case was already decided and we had lost, infact i think we had lost before it started there was another first tier tax tribunal recently involving sir alex ferguson, nolberto solano and a scam involving rights to a disney movie. the veridct in that case was reported. i would have thought this would be the same. you would also expect some sort of leak if both parties knew the result. as i said before it's pretty clear that unless they accept a shitty cva then hmrc are getting nothing other than legend status on pie and bovril. you have to assume they won't be happy about this. 0 Quote Link to comment Share on other sites More sharing options...
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