Bluepeter9 5,167 Posted October 8, 2014 Share Posted October 8, 2014 (From a blog I follow for business! Not seen this elsewhere - admin Move is you want) Ex-Rangers chairman disqualified as directorhttp://www.accountingweb.co.uk/article/ex-rangers-fc-chairman-disqualified-director-15-years/565750Craig Whyte, a former director of Rangers Football Club, has been disqualified from being a company director for 15 years, for "failing to avoid conflict of interest" in the running of the club.The disqualification by the Insolvency Servicestarts on 21 October.Whyte was the chairman of Rangers, which was placed into administration in February 2012 and was subsequently wound up by the Court of Session in Scotland in October 2012. He was also a director of Tixway UK Ltd, which was wound up by Court of Session in Scotland in July 2012.Business Minister Jo Swinson said: "Mr Whyte bought a much-loved club, and promised fans that he would provide further cash to bring success."However, he caused the club to use this money to fund the purchase of its own shares, reducing funds for investment. He also failed to consult other directors on important decisions meaning that his behaviour went unchallenged. "Such blatant lack of regard for proper corporate behaviour and control does not have a place in modern society."The grounds of the petition for the disqualification are that Whyte failed to act in accordance with his duties as a director to promote the interests of the company and to avoid conflicts of interest including:Causing RFC to enter into an agreement to effectively fund the purchase of its own sharesConducting the affairs of RFC without reference to other board directors, preventing RFC from being subject to proper corporate governanceCausing RFC to fail to comply with its tax obligationsLast month, HMRC was given leave to appeal against a tribunal decision that £49m in payments made to Rangers players from former owners of the club should not be taxable as they were not wages. The payments were made through an employee benefit trust scheme. Murray Group, the former owners, argued that the payments were loans. Link to post Share on other sites More sharing options...
centenarystand 2,227 Posted October 8, 2014 Share Posted October 8, 2014 There should be nothing on any Rangers website about this cretin unless its reporting his death. Link to post Share on other sites More sharing options...
JCDBigBear 10,810 Posted October 8, 2014 Share Posted October 8, 2014 (From a blog I follow for business! Not seen this elsewhere - admin Move is you want) Ex-Rangers chairman disqualified as directorhttp://www.accountin...15-years/565750Craig Whyte, a former director of Rangers Football Club, has been disqualified from being a company director for 15 years, for "failing to avoid conflict of interest" in the running of the club.The disqualification by the Insolvency Servicestarts on 21 October.Whyte was the chairman of Rangers, which was placed into administration in February 2012 and was subsequently wound up by the Court of Session in Scotland in October 2012. He was also a director of Tixway UK Ltd, which was wound up by Court of Session in Scotland in July 2012.Business Minister Jo Swinson said: "Mr Whyte bought a much-loved club, and promised fans that he would provide further cash to bring success."However, he caused the club to use this money to fund the purchase of its own shares, reducing funds for investment. He also failed to consult other directors on important decisions meaning that his behaviour went unchallenged."Such blatant lack of regard for proper corporate behaviour and control does not have a place in modern society."The grounds of the petition for the disqualification are that Whyte failed to act in accordance with his duties as a director to promote the interests of the company and to avoid conflicts of interest including:Causing RFC to enter into an agreement to effectively fund the purchase of its own sharesConducting the affairs of RFC without reference to other board directors, preventing RFC from being subject to proper corporate governanceCausing RFC to fail to comply with its tax obligationsLast month, HMRC was given leave to appeal against a tribunal decision that £49m in payments made to Rangers players from former owners of the club should not be taxable as they were not wages. The payments were made through an employee benefit trust scheme. Murray Group, the former owners, argued that the payments were loans.It's only a week old!! You been on holiday without internet access? Link to post Share on other sites More sharing options...
Ritchie Rich 27 Posted October 8, 2014 Share Posted October 8, 2014 How does that impact the sanctions placed on Rangers by the SFA?Surely, they should be redressed as all they did was further punish the victim of a crime. Link to post Share on other sites More sharing options...
boss 1,941 Posted October 8, 2014 Share Posted October 8, 2014 Wrong forum and a week old. Link to post Share on other sites More sharing options...
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