Guest Posted June 7, 2012 Share Posted June 7, 2012 I think my new favourite poster is chrismcarab. He has been exceptional in this thread 0 Quote Link to comment Share on other sites More sharing options...
Paulmcc12 Posted June 7, 2012 Share Posted June 7, 2012 With thanks to the BBC, the emails produced regarding the "fee quote" of £500k for the administration make it clear what the master plan of Mr Whyte was - newco and the incubator all along! http://scotslawthoughts.wordpress.com/2012/06/07/revealed-craig-whytes-master-plan-he-came-up-with-the-incubator-company/ 0 Quote Link to comment Share on other sites More sharing options...
No8. Posted June 7, 2012 Share Posted June 7, 2012 You'll be harking back to the good old days of Ostensted soon enough when Greenie fills your team team with league 2 rejects . I can hark back to the days of Andy Kennedy,Davie Mitchel,Billy Urquhart and Chris Robertson and Ostenstad is still the worst striker i have seen play for Rangers!!! 0 Quote Link to comment Share on other sites More sharing options...
madball Posted June 7, 2012 Share Posted June 7, 2012 I tried to greeny your one but I've got the usual pie and bovril quota embargo going on. Have you tried taking it to the COS to get the embargo overturned? 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted June 7, 2012 Share Posted June 7, 2012 Have you tried taking it to the COS to get the embargo overturned? No, I am not a toddler in a dummy spitting contest, I shall take my punishment for overspending my greens with dignity. 0 Quote Link to comment Share on other sites More sharing options...
Fife Saint Posted June 7, 2012 Share Posted June 7, 2012 I see an HMRC nominated liquidators features on the modified proposal to creditors today. Is that not odd? 0 Quote Link to comment Share on other sites More sharing options...
Thistle_do_nicely Posted June 7, 2012 Share Posted June 7, 2012 http://news.stv.tv/scotland/105193-hmrc-arrange-for-liquidators-at-rangers-if-administrators-fail-to-save-club/ 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted June 7, 2012 Share Posted June 7, 2012 I personally believe the EBTs were used to top up earnings but proving that and having the 2nd contracts to hand is something totally different. Without those contracts there simply is no case to answer. If this is Rangers argument in court and there is no apparent piece of paper proving a second contract ! it won't matter because even topping up the wages via EBT was still not included in players registrations to the SFA and is still illegal according to way an EBT is legally meant to be used and implemented.Bonuses also must be registered through the SFA as payment to a registered player. As in the SFA registration mandate "All monies issued to a club registered player must go through the SFA to show clubs are paying players according to the law and tax statutes so as not to bring the game into disrepute by illegal payments paid outside the SFA". And factor in that there is no money in the trust because it is all loaned out and that in itself is is total abuse of the system,and is self evidential that players and staff were being paid through 2 different sources at the same time but only one was actually paying tax to the HMRC and the other was meant to be a secret that no-one would ever find out about EVER. So the HMRC has caught Rangers with their pants down and I'll be amazed if they pull this off "I WILL". Lastly No8 it's a FCUKING pension scheme ! one that has no money in it for paying out a retirement lump sum when an employee actually retires ? there is no way Rangers can defend that.Yes loans are legal but by definition a loan must be paid back at some point as stated in the EBT before that person retires so that the HMRC can lightly tax the final payout at retirement. 0 Quote Link to comment Share on other sites More sharing options...
funky_nomad Posted June 7, 2012 Share Posted June 7, 2012 I see an HMRC nominated liquidators features on the modified proposal to creditors today. Is that not odd? BDO, apparently. Very well respected, and do a lot of accountancy work for charities - apt, really, given charity is what Rangers may be relying on in the very near future... 0 Quote Link to comment Share on other sites More sharing options...
Hipster Dufus Posted June 7, 2012 Share Posted June 7, 2012 The Record is still punting the Gattuso shite. FFS Traynor give it up. My link Looks to be written by David McCarthy. Is that an alias for Airdrie's Premier Fan? 0 Quote Link to comment Share on other sites More sharing options...
itzdrk Posted June 7, 2012 Share Posted June 7, 2012 oh hello HMRC http://local.stv.tv/glasgow/105193-hmrc-arrange-for-liquidators-at-rangers-if-administrators-fail-to-save-club/ 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted June 7, 2012 Share Posted June 7, 2012 (edited) I see an HMRC nominated liquidators features on the modified proposal to creditors today. Is that not odd? http://news.stv.tv/scotland/105193-hmrc-arrange-for-liquidators-at-rangers-if-administrators-fail-to-save-club/ Hmmm, am I reading too much into this? HMRC can force the CVA to fail, HMRC have nominated liquidators? 2+2=? Edited June 7, 2012 by stonedsailor 0 Quote Link to comment Share on other sites More sharing options...
Forest_Fifer Posted June 7, 2012 Share Posted June 7, 2012 Hmmm, am I reading too much into this? HMRC can force the CVA to fail, HMRC have nominated liquidators? 2+2=? 2 + 2 ? Depends who you're asking. If it's Green it'll be 6, if it's H&D it could be anything, I'd reckon 4, plus 100,000 in an EBT. 0 Quote Link to comment Share on other sites More sharing options...
Happy Buddie Posted June 7, 2012 Share Posted June 7, 2012 BDO, apparently. Very well respected, and do a lot of accountancy work for charities - apt, really, given charity is what Rangers may be relying on in the very near future... is this Armageddon? Shoving this out prior to the transfer window opening (on Saturday?) says what? Better get posting pish, lads, 119 pages go before then. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted June 7, 2012 Share Posted June 7, 2012 I'm no expert but in my opinion it all this hinges on the CVA being accepted. If it is, Rangers will come out of this relatively unscathed and probably still be the 2nd best team on the Country. If it's rejected, they literally have no where else to turn, and the current 'Rangers FC' would be liquidated and I just cannot see a Newco being accepted into the SPL straight away. The uproar would be incredible. Anything else between now and the CVA D-Day is just pure speculation and guesswork from ourselves and the Orcs. I haven't the slightest clue whether their CVA proposal has a chance of being accepted by the Creditors. It really is just a case of wait and see for now. That's my take on it anyway. I am sure the CVA will fail drastically as it's an insult of a CVA to the creditors as Green is supposed to have many millionaire investors. Ask yourself ? how much money is Green actually going to put into the gers ? £200K as far as I know and the rest is a loan the gers fans will have to pay back. Green will not invest money into the club upfront and once again the gers fans will be financing another sharks dreams that will take them years to accumulate whilst he syphons out money to his imaginary investors. It will take years especially with the new financial fairplay rules UEFA have imposed on the clubs this year. 0 Quote Link to comment Share on other sites More sharing options...
The Old Northerner Posted June 7, 2012 Share Posted June 7, 2012 Hmmm, am I reading too much into this? HMRC can force the CVA to fail, HMRC have nominated liquidators? 2+2=? Reading the detail, it also says that Duff & Phelps have a liquidator lined up - and *both* were lined up in April, so I'm not sure how newsworthy this one is -1 Quote Link to comment Share on other sites More sharing options...
Guest Posted June 7, 2012 Share Posted June 7, 2012 So is it a case when the Liquidators come in then it's really time to crack open the Champers? 0 Quote Link to comment Share on other sites More sharing options...
sjc Posted June 7, 2012 Share Posted June 7, 2012 oh hello HMRC http://local.stv.tv/...l-to-save-club/ HMRC arrange for liquidators at Rangers if administrators fail to save club By Mike Farrell 7 June 2012 15:51 BSTRangers: The liquidation move by HMRC was confirmed on Thursday.© SNS Group HM Revenue and Customs have arranged for liquidators to be appointed at Rangers should administrators fail to rescue the club. The tax authorities agreed the plan with current administrators Duff and Phelps, it was revealed on Thursday. Insolvency firm BDO have been lined up by HMRC should the current attempts to get the Ibrox club out of administration fail and they are put into liquidation. The move was made by HMRC in April after Duff and Phelps produced their proposals to remain in post, which those owed money had to vote on. On Thursday the administrators released the proposals approved by creditors, which originally asked them to rubber-stamp the appointment of Duff and Phelps as liquidators of Rangers should a proposed company voluntary arrangement (CVA) fail. The result of the creditors vote in April has also given the administrators power to "conclude a sale of the whole, or part of the business, property or assets of the company" without needings creditors permission, should the proposed CVA be successful. Now, should the CVA proposal funded by an £8.5m loan from the Sevco consortium led by Charles Green fail to receive the backing of creditors, the neutral insolvency firm would be called in. This would be in the case of the compulsory court-ordered winding up of the crisis-hit club, or if a creditors voluntary liquidation (CVL) took place as part of a 'newco' switch. According to documents released last week, in the event of the CVA failing, the consortium is "contractually obliged" to pay £5.5m for the "business and assets" of Rangers, which would be transferred to a completely different business entity, before the existing one is liquidated. The details of the newco deal are "confidential" and it is unclear whether the money to fund it would also take the form of a loan with interest. BDO and HMRC refused to comment on the agreement reached over the situation at the Glasgow club, which was plunged into administration on February 14 having failed to pay £14m in PAYE and VAT since Craig Whyte bought an 85% stake in the club in May 2011. 0 Quote Link to comment Share on other sites More sharing options...
Fife Saint Posted June 7, 2012 Share Posted June 7, 2012 Reading the detail, it also says that Duff & Phelps have a liquidator lined up - and *both* were lined up in April, so I'm not sure how newsworthy this one is I read it that the modification, signed today by Paul Clark, was confirmation that HMRC had pushed for BDO and that's now cast in stone. 0 Quote Link to comment Share on other sites More sharing options...
funky_nomad Posted June 7, 2012 Share Posted June 7, 2012 HMRC arrange for liquidators at Rangers if administrators fail to save club "if"??? 0 Quote Link to comment Share on other sites More sharing options...
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