Jamie_B Posted February 14, 2012 Share Posted February 14, 2012 Surely there is some legal recourse though Nizzy? Surely you can't just walk away from a liability that big - bigger than all the assets owned by the club. If it was possible then companies everywhere would operate in the exact same manner and just walk away from their debts. 0 Quote Link to comment Share on other sites More sharing options...
yoda Posted February 14, 2012 Share Posted February 14, 2012 I never even managed to get a trip to Ibrox. 0 Quote Link to comment Share on other sites More sharing options...
Drooper Posted February 14, 2012 Share Posted February 14, 2012 The company appointed as administrators were already on the fringes prior to their appointment this afternoon curious statement from now appointed administrator There is nothing unlawful or improper about the fact that they have ties with Rangers (at the highest level of both organisations by all accounts), but you have to wonder about conflicts of interest when the administrator is supposed to continue the operation of the business for the benefit of the creditors, not the business itself. 0 Quote Link to comment Share on other sites More sharing options...
saint dave Posted February 14, 2012 Share Posted February 14, 2012 The legal side of things is totally up in the air but it is 100%, cast-iron, completely guaranteed that on the footballing side the SPL will not even begin to consider a league without Rangers. They've admitted as much already. The other clubs should resign from the spl , in that case. I don't know the total ins and outs of the voting etc , but , I would be very unhappy if a team like mine , who had to sell Love St to sort ourselves out financially , voted to allow a "new" rangers back in , with no penalty. 0 Quote Link to comment Share on other sites More sharing options...
K.T Posted February 14, 2012 Share Posted February 14, 2012 When will the clearout begin? I can't wait to see Lafferty crying and unemployed. That may seem harsh. But he's a c**t! 0 Quote Link to comment Share on other sites More sharing options...
saintie1977 Posted February 14, 2012 Share Posted February 14, 2012 A new co rangers will still be liable for the £75m tax bill.. It's not that easy to just dump £75m of debt. Not too the tax man anyway Administration means the club is still liable for everything they owe as it stands, it all depends on the deal the administrator can do with the HMRC. If they can't come to an agreement, then the club could be heading for insolvency - all assets including Ibrox and Murray Park sold to the highest bidder. 0 Quote Link to comment Share on other sites More sharing options...
Hotelandywalker Posted February 14, 2012 Share Posted February 14, 2012 A new co rangers will still be liable for the £75m tax bill.. It's not that easy to just dump £75m of debt. Not too the tax man anyway I hope you're right, otherwise the creation of the new debt free company should be blocked by the government. How many hospitals, schools etc could £75 million pay for? 0 Quote Link to comment Share on other sites More sharing options...
Nizzy Posted February 14, 2012 Share Posted February 14, 2012 (edited) I'm sure they will.. If they're still operating as a football club,at ibrox and with whyte still in charge. You said it yourself, though. They'd be a new company. Surely there is some legal recourse though Nizzy? Surely you can't just walk away from a liability that big - bigger than all the assets owned by the club. If it was possible then companies everywhere would operate in the exact same manner and just walk away from their debts. Pre-pack administrations occur regularly. I'm not saying this is a definite, rather it appears to be a course of action. Why do you think Whyte was so keen to appoint his own man? Edited February 14, 2012 by Nizzy 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted February 14, 2012 Share Posted February 14, 2012 While people are right to be cynical, they surely make a massive error in crediting Craig Whyte as the Machiavellian genius of our time. I suspect he has a plan, but like his last one, it will collapse like a pack of cards. HMRC held other clubs over the barrel, and those clubs didn't owe them up to £75million. That means there is no chance of a CVA without HMRC's blessing. Whatever lessons need to be learned from previous examples, HMRC will have done so. Today we are a step closer to the world's largest jelly and ice cream street party. Hopefully Thatcher joins them 6 feet under to make the occasion truly unique. Pleasing. 0 Quote Link to comment Share on other sites More sharing options...
Junkers83 Posted February 14, 2012 Share Posted February 14, 2012 A new co rangers will still be liable for the £75m tax bill.. It's not that easy to just dump £75m of debt. Not too the tax man anyway WRONG WRONGWRONGWRONGWRONGWRONGWRONG YOUR WRONG YOUR WRONG YOUR WRONG IDIOT 0 Quote Link to comment Share on other sites More sharing options...
phanni tikklar Posted February 14, 2012 Share Posted February 14, 2012 You said it yourself, though. They'd be a new company. Pre-pack administrations occur regularly. I'm not saying this is a definite, rather it appears to be a course of action. Why do you think Whyte was so keen to appoint his own man? If whytes still in charge HMRC still pursue it. New co rangers or not Link... http://www.hmrc.gov.uk/manuals/nimmanual/nim12204.htm 0 Quote Link to comment Share on other sites More sharing options...
striker09 Posted February 14, 2012 Share Posted February 14, 2012 Surely there is some legal recourse though Nizzy? Surely you can't just walk away from a liability that big - bigger than all the assets owned by the club. If it was possible then companies everywhere would operate in the exact same manner and just walk away from their debts. Unfortunately, that's exactly what happens every day in this country. There are more grey areas in Company Law than a tramps underpants. Mr Whyte (or rather his advisors) have bowled the HMRC the preverbial googly. 0 Quote Link to comment Share on other sites More sharing options...
ArabianKnight Posted February 14, 2012 Share Posted February 14, 2012 If Rangers get away with this debt all clubs outwith the old firm should join the sfl, start a new league with a proper voting system and stick two fingers up to the old firm. i.e. 10spl clubs plus 6 from the top of the current 1st division then pyramid the rest of the leagues. not exactly the most thought out plan i know but this has me raging. Rangers have basically shafted every tax payer in this country to the tune of 75million. absolute b*****ds. 0 Quote Link to comment Share on other sites More sharing options...
Spain Posted February 14, 2012 Share Posted February 14, 2012 A New Co Rangers can't simply have assets transfered to them by Rangers. The assets (i.e. Ibrox etc) can only be bought. As has happened in real business many times, these assets can be bought at reduced values due to their lack of appeal for anyone else to buy. (Many industries conduct this through auctions). Therefore, a New Co Rangers could theoretically only dodge the tax bill entirely and still waltz into the league, by having zero assets. They would then have to try to buy back, or rent Ibrox (which would have been retained as an asset of the company about to be wound up, with the intention of selling on to assist in payment of creditors). 0 Quote Link to comment Share on other sites More sharing options...
EastEnd Jonny Posted February 14, 2012 Share Posted February 14, 2012 ♫ Your'e just to good to be true, can't take my eyes off you... ♫ 0 Quote Link to comment Share on other sites More sharing options...
Drooper Posted February 14, 2012 Share Posted February 14, 2012 WRONG WRONGWRONGWRONGWRONGWRONGWRONG YOUR WRONG YOUR WRONG YOUR WRONG IDIOT 0 Quote Link to comment Share on other sites More sharing options...
H_B Posted February 14, 2012 Share Posted February 14, 2012 Now - I need to go take a shower - I feel dirty.... You are fooling no one I'm afraid. Your contributions to this thread have oozed Creamdom. 0 Quote Link to comment Share on other sites More sharing options...
saintie1977 Posted February 14, 2012 Share Posted February 14, 2012 You said it yourself, though. They'd be a new company. Pre-pack administrations occur regularly. I'm not saying this is a definite, rather it appears to be a course of action. Why do you think Whyte was so keen to appoint his own man? I think the big thing with this is the HMRC will not be in a rush to get this done. Most creditors want to get through the process as quickly as possible to try and recoup some money in order to stay afloat - the HMRC does not need to act like this. Whoever the administrator is, they have to act in the best interests of the creditors (not the club). If they don't, then their position will be challenged and a court will appoint their own. 0 Quote Link to comment Share on other sites More sharing options...
Thistle_do_nicely Posted February 14, 2012 Share Posted February 14, 2012 I would love it if Rangers were to cease to exist after all of this. If they do wrangle a way out of it and become a FC Rangers 1690 or whatever in the SPL next season, though, the fact they will have to surrender every single piece of silverware ever won (and not only that, but their limited success in Europe would never, ever be repeated in today's footballing climate) would be pleasing in ways I couldn't even describe. You'd still get some thick bigots who try to merge together any future trophies with the previous count, right enough. 0 Quote Link to comment Share on other sites More sharing options...
FuzzyBear Posted February 14, 2012 Share Posted February 14, 2012 WRONG WRONGWRONGWRONGWRONGWRONGWRONG YOUR WRONG YOUR WRONG YOUR WRONG IDIOT Another valuable contribution. At least that idiot knows about the fvckin caps lock. 0 Quote Link to comment Share on other sites More sharing options...
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