Araminta Moonbeam QC Posted June 6, 2012 Share Posted June 6, 2012 SFA board meeting this morning to discuss the Buns. Regan quoted as saying 'there can't and won't be any deals'. 0 Quote Link to comment Share on other sites More sharing options...
Happy Buddie Posted June 6, 2012 Share Posted June 6, 2012 Apologies for the sloppy French. I was thinking "ill" but it looks like it could also be "wrong" or "poorly". Depends on the context, mal a la tete : headache, mal a l'etomac: the shits. 0 Quote Link to comment Share on other sites More sharing options...
hamish_ict Posted June 6, 2012 Share Posted June 6, 2012 oooh sfa release here - So, does this include the sale to Green? I don't think he's signed the papers yet, so will H&D need to submit documentation of due diligence? Will it string this fiasco out for longer? Will the rangers die before anyone buys them? stay tuned... 0 Quote Link to comment Share on other sites More sharing options...
Happy Buddie Posted June 6, 2012 Share Posted June 6, 2012 RTC poster reporting that all RFC(IA) shareholders called to a meeting at Ibrokes on Jun 14th to vote on one resolution - requirement of Insolvency Act that all shareholders must vote on liquidation proposal. Not looking too braw for that CVA, is it? I calculated a few tens of pages ago that at the current rate of posting page 1690 would fall on 16th/17th June (but that's Sat, Sun) The 14th would be possible if we upped the rate on the 11th-13th. 0 Quote Link to comment Share on other sites More sharing options...
TheTaxMan Posted June 6, 2012 Share Posted June 6, 2012 Not just the SFA the standup guy ignores apparently http://www.scotsman.com/news/scottish-news/top-stories/rangers-boss-craig-whyte-fails-to-appear-in-court-for-speeding-charge-1-2340255 0 Quote Link to comment Share on other sites More sharing options...
Araminta Moonbeam QC Posted June 6, 2012 Share Posted June 6, 2012 I calculated a few tens of pages ago that at the current rate of posting page 1690 would fall on 16th/17th June (but that's Sat, Sun) The 14th would be possible if we upped the rate on the 11th-13th. Things are bound to speed up once the AT sits and towards the 14th (if they last that long). My fervent hope is that we get the glorious event of Buns in Liquidation on page 1690. I know this is shared by many of us. -1 Quote Link to comment Share on other sites More sharing options...
rustyarabnuts Posted June 6, 2012 Share Posted June 6, 2012 HMRC would surely have more sway over a company that resorted to a CVA in the future? So by accepting it and allowing the club to run on they will be able to command future tax bills get paid on time with severe reprimands if not. Getting rid of a company that supplies £15million + in tax every year is probably not in their interests either. A newco, it could be argued, would not have the same restraints and history so the same problem could arise again and there would be little they could do until it got to this stage again. Not that i actually have a clue if this is right or not, but just seems logical. However nothing about this whole thing or HMRC is logical so most likely i am spouting pish. Logical and HMRC in the same sentence 0 Quote Link to comment Share on other sites More sharing options...
Forest_Fifer Posted June 6, 2012 Share Posted June 6, 2012 Not just the SFA the standup guy ignores apparently http://www.scotsman.com/news/scottish-news/top-stories/rangers-boss-craig-whyte-fails-to-appear-in-court-for-speeding-charge-1-2340255 f**k that - just get the arrest warrant drawn up. "Dog Bear the Bounty hunter"...... 0 Quote Link to comment Share on other sites More sharing options...
Dundee Hibernian Posted June 6, 2012 Share Posted June 6, 2012 I calculated a few tens of pages ago that at the current rate of posting page 1690 would fall on 16th/17th June (but that's Sat, Sun) The 14th would be possible if we upped the rate on the 11th-13th. Well, we'd better start posting more pish! As an slight aside, I was told by a relation of a player freed by Bolton this week that the young lad had a trial with a club up here, but the manager informed him that due to uncertainty over budgets caused by the Rangers situations, presently no offer could be made. This position must be being replicated throughout Scotland, the knock on effect of the authorities' indecisions is far reaching. 0 Quote Link to comment Share on other sites More sharing options...
Happy Buddie Posted June 6, 2012 Share Posted June 6, 2012 So, does this include the sale to Green? I don't think he's signed the papers yet, so will H&D need to submit documentation of due diligence? Will it string this fiasco out for longer? Will the rangers die before anyone buys them? stay tuned... The beauty of the statement is its simplicity. Basically, the club lives and dies by its own actions. If anyone else can remember the days of Ernie Walker or Jim Farry, this statement would have been full of codicils, the party of the third part, the party of the second part, finished off on page 135 with the Sanity Clause. What, you don't believe in a Sanity Clause? 0 Quote Link to comment Share on other sites More sharing options...
rustyarabnuts Posted June 6, 2012 Share Posted June 6, 2012 The beauty of the statement is its simplicity. Basically, the club lives and dies by its own actions. If anyone else can remember the days of Ernie Walker or Jim Farry, this statement would have been full of codicils, the party of the third part, the party of the second part, finished off on page 135 with the Sanity Clause. What, you don't believe in a Sanity Clause? mines is more an Insanity Clause -1 Quote Link to comment Share on other sites More sharing options...
Happy Buddie Posted June 6, 2012 Share Posted June 6, 2012 Well, we'd better start posting more pish! As an slight aside, I was told by a relation of a player freed by Bolton this week that the young lad had a trial with a club up here, but the manager informed him that due to uncertainty over budgets caused by the Rangers situations, presently no offer could be made. This position must be being replicated throughout Scotland, the knock on effect of the authorities' indecisions is far reaching. Where's the party going to be? All us posting on here should have our equivalent of a Twitnic on the glorious day. How about the Louden Tavern in Dennistoun? Mibbe no, right enough. 0 Quote Link to comment Share on other sites More sharing options...
Caff Posted June 6, 2012 Share Posted June 6, 2012 The beauty of the statement is its simplicity. Basically, the club lives and dies by its own actions. If anyone else can remember the days of Ernie Walker or Jim Farry, this statement would have been full of codicils, the party of the third part, the party of the second part, finished off on page 135 with the Sanity Clause. What, you don't believe in a Sanity Clause? I no' believe in the Sanity Claus! 0 Quote Link to comment Share on other sites More sharing options...
Monkmyster Posted June 6, 2012 Share Posted June 6, 2012 They been kicked oot yet? 0 Quote Link to comment Share on other sites More sharing options...
blanco Posted June 6, 2012 Share Posted June 6, 2012 I'm not sure where either the original figures come from, or your £100m. The double contract punishment will only involve player contracts, so only the amount in question would be £33M. Payments to directors etc. may well turn out to be in breach of HMRC rules, but they weren't against SFA/SPL regulations. £33M tax free equates to ~ £74.5M gross (assuming 40% PAYE and standard 13.8% Employers NI and 2% Employees NI) Meaning Rangers saved in the region of £41.5M over the 10 years in player salaries. Assuming an average wage bill of £30M over that time (I'm not sure any source I've seen has an accurate breakdown of Player salaries so this may be wrong) then a saving of £4.15M a year equates to ~ 14% saving on player wages. As always, my maths is open to ridicule, so please feel free to point out any not-so-deliberate mistakes. £47m in EBT payments comes directly from rangers accounts as does approximately £231m in wage and salary payments from 2001 until 2010. £47m tax free equates to around £85m gross (using income tax clculator) giving a saving of £38m So, in total it still gives a saving of around 17% regardless of whether it went on player or director wages, it is still a saving on the overall wagebill. 0 Quote Link to comment Share on other sites More sharing options...
Happy Buddie Posted June 6, 2012 Share Posted June 6, 2012 I no' believe in the Sanity Claus! Well, don't expect any presents at Christmas, then. Boom, boom. 0 Quote Link to comment Share on other sites More sharing options...
Caff Posted June 6, 2012 Share Posted June 6, 2012 Well, don't expect any presents at Christmas, then. Boom, boom. Ah the good old day when the Marx Brothers films were shown every Christmas. I'm really showing my age now! 0 Quote Link to comment Share on other sites More sharing options...
killingfloorman Posted June 6, 2012 Share Posted June 6, 2012 (edited) HMRC would surely have more sway over a company that resorted to a CVA in the future? So by accepting it and allowing the club to run on they will be able to command future tax bills get paid on time with severe reprimands if not. Getting rid of a company that supplies £15million + in tax every year is probably not in their interests either. A newco, it could be argued, would not have the same restraints and history so the same problem could arise again and there would be little they could do until it got to this stage again. Not that i actually have a clue if this is right or not, but just seems logical. However nothing about this whole thing or HMRC is logical so most likely i am spouting pish. Hypothetically since rapeepul don't do walking away paying tax I doubt they would be due for 15million tax playing in the juniors Edited June 6, 2012 by killingfloorman 0 Quote Link to comment Share on other sites More sharing options...
squidger Posted June 6, 2012 Share Posted June 6, 2012 (edited) <br class="Apple-interchange-newline">#SFA recieved fax from FIFA today saying they are not breaching rules re #Rangers @BBCchrismclaug 16 minutes ago #Stewart Regan says it's down to #Rangers administrators to make sure the Charles Green is fit and proper person to run club.@BBCchrismclaug 17 minutes ago Couple more tweets off BBC, the ruling about the clubs being responsible appears it will relate to Green taking over Rangers. The first one really depends the what content the rest of the fax said from FIFA. of course they are not breaching rules as they haven't done anything concrete yet. Ah well another non news day. Edited June 6, 2012 by squidger 0 Quote Link to comment Share on other sites More sharing options...
Kyle Posted June 6, 2012 Share Posted June 6, 2012 <br class="Apple-interchange-newline">#SFA recieved fax from FIFA today saying they are not breaching rules re #Rangers @BBCchrismclaug 16 minutes ago #Stewart Regan says it's down to #Rangers administrators to make sure the Charles Green is fit and proper person to run club.@BBCchrismclaug 17 minutes ago Couple more tweets off BBC, the ruling about the clubs being responsible appears it will relate to Green taking over Rangers. The first one really depends the what content the rest of the fax said from FIFA. of course they are not breaching rules as they haven't done anything concrete yet. Ah well another non news day. Is there not some kind of meeting between the Green and assorted fans groups today, to discussing his long-term 'plan' for Rangers? Could be fireworks yet... 0 Quote Link to comment Share on other sites More sharing options...
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