T_S_A_R Posted June 17, 2012 Share Posted June 17, 2012 A group of people start a football club, (basically some mates get together to kick a ball about). The football club is formed. Years later they decide to Incorperate their club. The football club becomes a company. Many years later the company goes bust through severe mismanagement. The football club dies. i know some leeds fans who would disagree with you. 0 Quote Link to comment Share on other sites More sharing options...
PeeTeeJag Posted June 17, 2012 Share Posted June 17, 2012 Chuck Norris would sort this sorry mess out 0 Quote Link to comment Share on other sites More sharing options...
Fife Saint Posted June 17, 2012 Share Posted June 17, 2012 I've seen no evidence that Walter was involved with EBTs, only shit-stirring from Celtic fans etc. Certainly he wasn't on the BBC's list of beneficiaries. Anyway, EBTs were a common tax planning device and the tribunal is still to give its ruling on how Rangers/Murray Group ran theirs. As for "newco" there's a clue in the name. New company, not new club. It's a grey area but absolutely central to the argument. As far as the SPL are concerned this new company, who could have been anybody, will ask to have a dead company's share transferred over. That would constitute a new member club in my opinion. It's secondary to the moral argument, however. This cannot be approved for obvious integrity reasons. The entire future of the league hangs on it. 0 Quote Link to comment Share on other sites More sharing options...
PeeTeeJag Posted June 17, 2012 Share Posted June 17, 2012 0 Quote Link to comment Share on other sites More sharing options...
dee eff cee Posted June 17, 2012 Share Posted June 17, 2012 I've a wee feeling that if they dont do something about that name, Surely it'll be classed as a phoenix company and HMRC will come knocking for the BTC money? Same as if the Cardigan gets involved at board level. If he's involved in the EBT business, then surely he'll be part of the previous regime? Im not an expert, but isnt that illegal? I have a feeling that when BDO get involved a lot of this smoke and mirror nonsense will be stopped in its tracks and the truth of how hopeless they are will out. Run out of Greenies, after coming in after a few beers last night , so just want to say "Agreed". Something very suspicious if the same characters are lurking at board level. 0 Quote Link to comment Share on other sites More sharing options...
Fife Saint Posted June 17, 2012 Share Posted June 17, 2012 i know some leeds fans who would disagree with you. This annoys me. When did Old Leeds or New Leeds play in the SPL? 0 Quote Link to comment Share on other sites More sharing options...
Scary Bear Posted June 17, 2012 Share Posted June 17, 2012 (edited) it's pretty simple. if a club can exist prior to the incorporation of a company then it stands to reason that it can exist beyond the liquidation of the company. the company administers the football club, they are not the same thing. i thought that highlighting the discrepancy between our actual year of formation and the formation of the company would make my point obvious. point 1 here That's (part in bold) a fair point. However, what's to stop any club with debts just going into liquidation, starting a new company and continuing as normal in the same league? I can see the lenders getting twitchy. If Rangers are just allowed to continue as normal, then other clubs with debt (I'm thinking Killie & Hearts) would be daft not to take the same route as Rangers and start debt free back in the SPL, as is currently being touted, in SFL1. Also, there are already precedents in what happened to Gretna and Airdrieonians. Admitttedly they were both punished by the SFL, instead of the affront to sporting integrity that is the SPL. Edited June 17, 2012 by Scary Bear 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted June 17, 2012 Share Posted June 17, 2012 (edited) it's pretty simple. if a club can exist prior to the incorporation of a company then it stands to reason that it can exist beyond the liquidation of the company. the company administers the football club, they are not the same thing. i thought that highlighting the discrepancy between our actual year of formation and the formation of the company would make my point obvious. point 1 here In that case the Club is an undeclared subsidiary of RFC Plc. Why does the club not have separate accounts to the Plc? If they had they would be able to offer UEFA 3 years worth of audited accounts and would only be banned from European competition for 1 year's worth of financial misdoings. As opposed to the current situation where Sevco do not meet the qualification criteria and will not until they have been up and running for three years. Edited June 17, 2012 by stonedsailor 0 Quote Link to comment Share on other sites More sharing options...
dee eff cee Posted June 17, 2012 Share Posted June 17, 2012 Well, where are the fans of the Other Cheek? Thought they'd be all over this page. Can't say I miss them and their wobbling over potentially missing their partners in crime and the four times a year hate fest. 0 Quote Link to comment Share on other sites More sharing options...
HanoMaSano Posted June 17, 2012 Share Posted June 17, 2012 1339931056[/url]' post='6344835']i know some leeds fans who would disagree with you. I know Leeds keep being brought up as an example, but what happened there isn't even similar. Indeed, Leeds came out of administration via a CVA. Unless my memory is playing tricks on me. 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted June 17, 2012 Share Posted June 17, 2012 One word now perfectly sums up how things are currently shaping up.... APPEASEMENT. This. What we actually should be hearing from SFA and ZombieH*n Co. is REPARATIONS 0 Quote Link to comment Share on other sites More sharing options...
PeeTeeJag Posted June 17, 2012 Share Posted June 17, 2012 I've seen no evidence that Walter was involved with EBTs, only shit-stirring from Celtic fans etc. Certainly he wasn't on the BBC's list of beneficiaries. Anyway, EBTs were a common tax planning device and the tribunal is still to give its ruling on how Rangers/Murray Group ran theirs. As for "newco" there's a clue in the name. New company, not new club. So everyone and their granny at rankers 1.0 were getting EBTs but The Cardigan and Sally weren't? Highly doubtful. If I were them and everyone else was lining their pockets with money then I'd be wanting one too. 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted June 17, 2012 Share Posted June 17, 2012 i know some leeds fans who would disagree with you. Yeah, fans, fans of Sevco will no doubt claim the same but fans of all other clubs except yourself *sniggers* wont let it happen, who says one set of fans have more say than 41 other sets of fans collectively? 0 Quote Link to comment Share on other sites More sharing options...
lithgierose Posted June 17, 2012 Share Posted June 17, 2012 I've seen no evidence that Walter was involved with EBTs, only shit-stirring from Celtic fans etc. Certainly he wasn't on the BBC's 1ST list of beneficiaries. Anyway, EBTs were a common tax planning device and the tribunal is still to give its ruling on how Rangers/Murray Group ran theirs. As for "newco" there's a clue in the name. New company, not new club. 0 Quote Link to comment Share on other sites More sharing options...
Bearwithme Posted June 17, 2012 Share Posted June 17, 2012 Malcolm Cohen of BDO who are liquidating the old company has said: “It’s important to understand that the appointment of liquidators will not mean the end of football at Ibrox – only the end of the company that ran the club”. Also, Lord Glennie in his Court of Session ruling described the old company as one that "presently operates" the football club. Now the football club will be operated by a new company. 0 Quote Link to comment Share on other sites More sharing options...
FinnesTON Posted June 17, 2012 Share Posted June 17, 2012 Shame on all of us not one word of sympathy for the loss of Rangers. Get yourselves into the Card Factory or Clintons(they need the dough) and buy a sympathy card or all club together for a nice wreath. Obviously the other side of the OF will want to send a mass card or hold a candlelit vigil somewhere. To Rangers supporters everywhere Sorry for your loss. 0 Quote Link to comment Share on other sites More sharing options...
stonedsailor Posted June 17, 2012 Share Posted June 17, 2012 Malcolm Cohen of BDO who are liquidating the old company has said: “It’s important to understand that the appointment of liquidators will not mean the end of football at Ibrox – only the end of the company that ran the club”. Also, Lord Glennie in his Court of Session ruling described the old company as one that "presently operates" the football club. Now the football club will be operated by a new company. LMAO you are dropping a couple of straws but keep clutching at the rest. Football will probably continue at Ibrox it just wont be Rangers that are playing. 0 Quote Link to comment Share on other sites More sharing options...
Fife Saint Posted June 17, 2012 Share Posted June 17, 2012 Malcolm Cohen of BDO who are liquidating the old company has said: “It’s important to understand that the appointment of liquidators will not mean the end of football at Ibrox – only the end of the company that ran the club”. Also, Lord Glennie in his Court of Session ruling described the old company as one that "presently operates" the football club. Now the football club will be operated by a new company. Neither of whom have any input to the SPL board. 0 Quote Link to comment Share on other sites More sharing options...
xbl Posted June 17, 2012 Share Posted June 17, 2012 I actually think the EBTs thing needs to be put to bed to an extent. There are two aspects of it. Firstly, the SPL/SFA/whoever sporting investigation DOES need to continue, and Rangers need to be penalised for that. So dont get me wrong there. However, when it comes to hectoring Walter Smith and Ally McCoist about them, we're done with that. It doesnt affect Rangers any more. That is partly why HMRC wanted the club liquidated. They can carry out their investigation, and punish those that were responsible. It isnt illegal to receive ebts as far as I know, and this aspect of it is no longer relevant to the newco Rangers. So I think this side of the story isnt really a big deal. 0 Quote Link to comment Share on other sites More sharing options...
Well Well Posted June 17, 2012 Share Posted June 17, 2012 Sounds like the biggest cop out in history. Let me take a mad stab at what might happen. Rangers will go to SPL2 to allow them entry back into the big league asap. SFA will go for a top league of 10 as the SPL(read Old Firm) have been wanting since they started to reorganise to ensure the Old Firm maximised their revenue. Rangers don't get investigated further, will accept their slap on the wrist and we will be back to the big two with their voting rights intact and all the TV revenue and sponsorship being channelled straight back into the Old Firm. A pyramid system to keep the fans onside but under the bonnet virtually no change. It will be a pyramid system with all the cash going to the top two teams aka the old firm. Whilst Doncaster will probably become SFA spokesman as his reward for the stitch up. Borrowing someone else's words this is clearly appeasement and should be about reparations. Stitch up disguised as reformation. 0 Quote Link to comment Share on other sites More sharing options...
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