wunfellaff Posted November 20, 2012 Share Posted November 20, 2012 Oh its far from over re the BTC, and even if it was then they killed the club for nothing. A partial victory.....and quite possibly won't be resolved until after the zombie club is slain............... goosygoosy says:Monday, November 19, 2012 at 22:47 #39#0#Rate This Prediction Sevco may be in a race against time. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, On 3 Dec BDO will hold a Creditors Mtg On that date Creditors will learn whether any Creditors have disappeared from the Creditors List If some Creditors have disappeared then it`s good news for those who remain. There will be fewer Creditors to share the pot However The disappearance of Creditors is extremely bad news for any Sevco fans gullible enough to believe their club is debt free. Any Creditors no longer on the RFC list will be Creditors of Sevco. The prime Candidates for a “disappearing act” are: Ticketus………. who hold a contract for RFC STs worth £40m Whyte…………..who holds a floating charge over Ibrox and MP worth £27.5m Close Leasing.. who holds a floating charge over Ibrox and MP worth £xm Of these, the most likely candidate for a re appearance is Ticketus. It makes no sense for them to lie down and give up when £40m was at stake. For a modest investment of say £8m they could have acquired Ibrox and MP and thus ensured their ST contract was moved away before RFC were legally liquidated. One simple clue in all of this is the Octopus Investments accounts for the year ending June 2012. If Octopus thought they had lost money on the Ticketus2 RFC contract they would be obliged to make some kind of provision in their annual accounts No provision was made. All Octopus did was register a floating charge over Ticketus on March 14 2012.This means that when the time is right Octopus can liquidate “Ticketus” thus liquidating all the little Ticketus sub cos. This will include the largest sub co called Ticketus2 who specialise in RFC STs. When Ticketus is liquidated all funds and profits are repaid to dozens and dozens of investors in all the Ticketus sub cos. Buried among these investors are the names of the people who have been investing in RFC STs since 2009 So On 3 Dec it is possible that one or more of the Creditors may leak the fact that Ticketus are no longer on the RFC Creditor List Thus begging the question. What happened to the RFC debt to Ticketus of £27m associated with the RFC/Ticketus ST Contract worth £40m ? If Ticketus are still owed this money because the debt was transferred as part of the RFC Sale Agreement then Sevco have a £40m millstone round their neck. This has to be disclosed sooner or later. Questions will be asked if Ticketus are no longer and RFC Creditor on 3 Dec This rather suggests that the goodwill Green has enjoyed may be about to evaporate. He may be forced to pre-empt a leak by announcing that a major reason for the fund raising is to reduce the debt owed to Ticketus Not long to wait 0 Quote Link to comment Share on other sites More sharing options...
WhiteRoseKillie Posted November 20, 2012 Share Posted November 20, 2012 'Ever get the feeling you've been cheated?' I wondered if anyone would pick up on that...... 0 Quote Link to comment Share on other sites More sharing options...
Paquis Posted November 20, 2012 Share Posted November 20, 2012 (edited) Looks like the side letters should have been registered with the SFA and SPL As I read the document, page 38 reflects the evidence of Mr. Thomson and not a finding of the Tribunal. In fact, the thrust of Thomson's evidence is that the EBTs and associated side-letters were part of the player's 'wage' (p38, line 41). However, the Tribunal found that they were in fact recoverable loans. Edited November 20, 2012 by Paquis 0 Quote Link to comment Share on other sites More sharing options...
Chris-54Titles- Posted November 20, 2012 Share Posted November 20, 2012 This whole thing reeks of a Masonic conspiracy. Dodgy handshakes, rolled up trouser legs, buggering livestock etc. The Establishment club strikes again. It's a conspiracy. 0 Quote Link to comment Share on other sites More sharing options...
beermonkey Posted November 20, 2012 Share Posted November 20, 2012 ^^^^seething IMO :lol: I can assure you there is not the slightest bit of anger from me, this story still has a long way to go. Enjoy your wee moment of triumph, but the fact remains, rangers football club are in the process of liquidation. Made bigger Just in case you have trouble reading (or understanding) it. 0 Quote Link to comment Share on other sites More sharing options...
Chris-54Titles- Posted November 20, 2012 Share Posted November 20, 2012 :lol: I can assure you there is not the slightest bit of anger from me, this story still has a long way to go. Enjoy your wee moment of triumph, but the fact remains, rangers football club are in the process of liquidation. Made bigger Just in case you have trouble reading (or understanding) it. SEETHINGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGG HAHAHA 0 Quote Link to comment Share on other sites More sharing options...
Chris-54Titles- Posted November 20, 2012 Share Posted November 20, 2012 http://ukradioplayer.clyde1.com/console/ Clyde1 phone in, let the seethe commence. 0 Quote Link to comment Share on other sites More sharing options...
Dindeleux Posted November 20, 2012 Share Posted November 20, 2012 Liquidated and history lost for next to nothing? Glorious 0 Quote Link to comment Share on other sites More sharing options...
Guest Kincardine Posted November 20, 2012 Share Posted November 20, 2012 You need to learn to read, that wasn't me. I apologise and given you a greeny by way of redemption. I hadn't realised that 'ghost' and 'jim m' could occur in two different user names. 0 Quote Link to comment Share on other sites More sharing options...
beermonkey Posted November 20, 2012 Share Posted November 20, 2012 SEETHINGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGG HAHAHA Oh dear oh dear oh dear..... even in a moment of triumph sevconians still cant come up with a valid, sensible response. So....Can i ask for a 3rd time...Why are sevco fans so happy about this ? 0 Quote Link to comment Share on other sites More sharing options...
kiddy Posted November 20, 2012 Share Posted November 20, 2012 (edited) So, when Gio De Stefano gets the Admin/Liquidation revoked. GIOVANNI DI STEFANO @DEVILSADVOKAT 55m I will be writing an open letter to BDO/DP and Court of Sessions seeking as a shareholder of RFC PLC a revocation of admin/liquidation... Who will the fans decide to support? 1-Oldco, 2-Newco or 3 the the Rangers? RUNAROUND NOW! http://www.youtube.com/watch?v=gb_qHP7VaZE SPLITTERS! Edited November 20, 2012 by kiddy 0 Quote Link to comment Share on other sites More sharing options...
wunfellaff Posted November 20, 2012 Share Posted November 20, 2012 So, when Gio De Stefano gets the Admin/Liquidation revoked. Who will the fans decide to support? SPLITTERS! No the opposire, he wants to merge oldco and newco :lol: 0 Quote Link to comment Share on other sites More sharing options...
beermonkey Posted November 20, 2012 Share Posted November 20, 2012 No the opposire, he wants to merge oldco and newco :lol: But...But..But it's the same club. :lol: 0 Quote Link to comment Share on other sites More sharing options...
SS-18 ICBM Posted November 20, 2012 Share Posted November 20, 2012 Oh dear oh dear oh dear..... even in a moment of triumph sevconians still cant come up with a valid, sensible response. So....Can i ask for a 3rd time...Why are sevco fans so happy about this ? hmm... 0 Quote Link to comment Share on other sites More sharing options...
itzdrk Posted November 20, 2012 Share Posted November 20, 2012 this is possibly the best news dead for nothing Charles Green killed Rangers for no reason whatsover 0 Quote Link to comment Share on other sites More sharing options...
Chris-54Titles- Posted November 20, 2012 Share Posted November 20, 2012 Speirs and delacunt are seething on radio snyde. 0 Quote Link to comment Share on other sites More sharing options...
ray_of_licht Posted November 20, 2012 Share Posted November 20, 2012 Just what we need - more di Stefano around the place Rangers Football Club has won an appeal against a tax bill over its use of Employee Benefit Trusts.The club, which is now in ‘liquidation,’ used the scheme from 2001 to 2010 to make £47.65m in payments to players and staff in the form of tax-free loans. HM Revenue and Customs (HMRC) had challenged the payments, arguing that they were illegal. Rangers disputed the bill and a First Tier Tax Tribunal (FTT) has ruled the payments were loans that can be repaid. The decision was welcomed by Murray International Holdings, who were majority shareholders of the old club until Craig Whyte's takeover in May 2011. However, HMRC said it was considering an appeal. Giovanni Di Stefano a shareholder in the company has stated that after this result, which “was nothing other than obvious and expected” will now be “a launching for an “action as a shareholder to revoke and reverse the Administration, the Liquidation order and the return of monies that have been at best misappropriated at worst stolen from RFC which amount to some £40 million.” Di Stefano also stated that there is a current criminal investigation in New York, Monaco and Glasgow into the whole RFC matter and that “it has now been proved that the basis for Administration was fraudulent and obviously clearly a ploy by those in high office whom we will be naming to ruin RFC for political and economic motives.” In its ruling - which was endorsed by two judges, with one dissenting - the FTT said the lengthy appeal had been heard over 29 days. "At a late stage in its deliberations it became clear that the tribunal would be unable to issue a unanimous decision. It is conscious of and regrets the consequent delay," it said. "The majority view reflects the argument that the controversial monies received by the employees were not paid to them as their absolute entitlement. "The legal effect of the trust/loan structure is sufficient to preclude this. Thus the payments are loans, not earnings, and so are recoverable from the employee or his estate. The dissenting opinion came from Dr Heidi Poon, who concluded that the money received by the employees through the trust constituted earnings for income tax purposes. The tribunal agreed to a request to anonymise the published form of the decision. Di Stefano stated that “the decision to edit the judgement was consistent with all I have been saying that the whole RFC matter is politically motivated using money as bait. I kicked up a big stink over all of this and for sure if I had not made so many things public the RFC case would have been dead and buried. The Culture and Media Commons Select Committee had scheduled a debate over the Rangers debacle and as soon as I wrote to them saying I wanted to be heard and to supply documents they cancelled the hearings. It’s time now for explanations.” In a statement, Murray International Holdings said: "We are satisfied that the tax tribunal has now published its widely awaited decision and note the contents thereof. "We are pleased with the judgement which leaves minimal tax liability and overwhelmingly supports the views collectively and consistently held by our advisers, legal counsel and MIH itself. "This has been an exceptionally long, difficult and expensive process involving not just the tax tribunal but also significant efforts to resolve the matter with senior HMRC officials on a commercially sensible basis for all parties. "We will therefore review the detailed content of the decision with our advisers and legal counsel to ascertain what action, if any, is now required by MIH." The MIH spokesman said that while the company had "respected the privacy" of the tribunal proceedings, "a substantial quantity of confidential information" about the case had made its way into the public domain stimulating "often ill-informed debate". The statement continued: "This has been wholly inappropriate and outwith the fundamental principles of natural justice. "We therefore formally request that the relevant authorities investigate how these sensitive details have been released so widely. "We have instructed our lawyers to retrospectively review online and printed publications relating to the case to identify whether legal redress is either appropriate or necessary." A spokesman for HMRC said: "We are disappointed that we have lost this stage of the court process and we are considering an appeal. "The decision was not unanimous and the diligence of HMRC investigators was acknowledged by the whole tribunal. "HMRC is committed to tackling avoidance and it is right that we challenge the type of avoidance seen in this case." Old Rangers was under the control of Sir David Murray when it began using EBTs. He sold the club for £1 to Scottish businessman Craig Whyte in 2011, while the tax liability was in dispute. The FTT, before three judges, concluded in January, one month before the old Rangers, now under the control of Mr Whyte, was forced into administration by HM Revenue and Customs (HMRC) over non-payment of tax totalling about £14m. HMRC subsequently rejected proposals for a creditor’s agreement that would have allowed the old club to continue. Administrators Duff and Phelps then negotiated a sale of assets to a consortium led by Charles Green for £5.5m. He has since formed a new club, now playing in the Scottish Football League Third Division. In the event the Court revoke the Administration and Liquidation Orders Di Stefano has stated that the best course would be for “RFC PLC and Sevco to merge. That resolves all.” Phew. 0 Quote Link to comment Share on other sites More sharing options...
Guest Kincardine Posted November 20, 2012 Share Posted November 20, 2012 Looks like the side letters should have been registered with the SFA and SPL You've made enough of an arse of yourself on this thread without coming out with shite like that. If you register a side-letter then it isn't a side letter. It's a letter. Want to join my Truth and Reconciliation Commission? The premise is that folk like you made capital in judging the outcome of The Big Tax Case and folk like me said we're not as bad as portrayed. I am hoping for peace and harmony on the board. 0 Quote Link to comment Share on other sites More sharing options...
ray_of_licht Posted November 20, 2012 Share Posted November 20, 2012 I am hoping for peace and harmony on the board. I'm hoping for a bike from Santa. I think we're both going to be disappointed 0 Quote Link to comment Share on other sites More sharing options...
Bearwithme Posted November 20, 2012 Share Posted November 20, 2012 Liquidated and history lost for next to nothing? Glorious You lot can't get anything right. 0 Quote Link to comment Share on other sites More sharing options...
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