PaulRFC1
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Posts posted by PaulRFC1
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The taxman will have little to gain from a CVA prior to the EBT verdict, and maybe even afterwards, given the way Whyte has fucked them about.
Thats were I have my doubts.
HMRC are not to be fucked with and Whyte has took a gamble but there could be less to gain from not doing it.
They may recoup 20million(just a random figure)from doing a CVA but with the way Whyte has fucked them why do it? its not a massive amount to them and they may just not take a CVA regardless because of the treatment they have recieved.
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A month? Don't think so.
We will see.
It seems one of the main reasons we have entered Admin so early is the European registration and that is the 31st of March so lets just see what happens.
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It was lifted from FF. I have no doubts as to the integrity of the original poster. Whether he is right or wrong we will just have to wait and see.
I see.
I thought you were talking about that article and thats what you got from it.
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What scenario do you see unfolding, DB?
CVA makes the most sense for all parties.
The way Whyte has set it up, we go under he takes all the money and would then put that into a new company and they get fuck all.
If a CVA fails to work then we would go down the Pheonix route.
I expect us to leave Administration withing the month tho.
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I'm seeing the pieces fall into place, but. It isn't the scenario that you posted.
This.
I don't know where he got that scenario from.
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Is it not the case that any new company would not own Ibrox,M.P. or the players contracts?
I'm sure any new company would have to buy these back from creditors?
And frankly the thought of having to listen to the scum go on and on about this for years on end depresses me tbh. Any new Rangers would also be banned from Europe for 3 years and have to start with a 15-20 penalty every season for 4 years.
If the unthinakble happens i really hope we go down to England and play not go cap in hand to the scum and the rest of the spl who hate us.
Going down the Pheonix route then no.
Here is a good post from a few days ago explaining what it is.
"As phoenix club we wouldn't lose any history. The club, stadium, training ground, etc would be transferred from one company; currently 'The Rangers FC Group Ltd.' to a new company. Examples of where this have happened are Leeds United and Celtic. We would be the same club.
What the OP is referring to is Rangers FC being liquidated and a group of fans (for example) starting a new club, calling it Glasgow Rangers (for example). This new club would not be The Rangers FC. But a phoenix club would still be The Rangers FC.
Complications of creating a phoenix club are listed here: http://sport.stv.tv/...hoenix-company/
Obviously every current fan of Rangers FC would support a phoenix club (As it would be the same club, same history, same tradition), unless they are glory hunters (as the next few years may not be as successful as we are used to).
I guess a number of fans would not support a newly formed club, as actively as they do now. As we would lose our history, traditions etc (As happened with Airdrie - Airdrieonians. And Wimbledon FC - AFC Wimbeldon)"
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Im sorry but i dont buy this "Transfering" our history, if that happens, then effectively Rangers Football Club died. How the hell is that a good plan?
How?
Only the company changes.
The Rangers brand, our history, our stadium and our players all transfer over. Its basically just the company that goes.
It happened with Leeds, you dont lose your name or your history.
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Correct me if I'm wrong, but would the following be sort of correct:
CW has put us into administration now because it gives him the ability to secure all of our assets in his name AND clear all current debts?
We then come out of administration, we lose the BIG tax case and the club in its current state goes into liquidation.
However, CW transfers all of the assets (Stadium, players etc etc) into a new company and HRMC end up having a case against a non-existent company?
The SPL then have no option but to vote to allow us to stay in the league for their own best interests and CW sells us to a new owner who can take us forward with no debt.
Pretty much what it seems like.
My only gripe would be ceasing to exist as a football club but I really have no idea how this goes about, if its true that you transfer your history, stadium etc over to a new company and thats it then im fine with that and it sounds like a good plan.
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Pretty sure his home is in Monaco and were being run by admins so doesn't matter where he is
That was my first thought.
He is based in Monaco and he is no longer a Chairman, its not as if he is cut off either because the administrator is a friend of his.
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I have my doubts that you'd make a judgement if Whyte walked up to you personally and said "Paul, I've totally shafted the club".
Ok so what do we know.
Whyte has reportedly left to go to Monaco.
Why is this? nobody knows, so instead of jumping in and screaming he is a conman and a crook I have said I will wait until I find out more while admitting it is worrying.
Why would I make judgement on something which I dont know anything about? the fact he has went to Monaco is worrying like I said but until I know more about it then it would be stupid to make judgement.
Are you an idiot?
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The fact he has left the country is worrying.
Who knows why tho and ill save judgement until we find out more.
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If you need to wait till you see him putting the goalposts on Ebay then you carry on.
My blinkers are off.
I will.
I would rather Whyte being the preferred creditor than HMRC.
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How what plays out ? It's played out surely....he didn't pay tax after colleting it off his employees and we are now in administration. What you waiting for to make your mind up, liquidation ?
We are only just in administration.
As I said im going to wait for this to all play out and see what happens with the club, as many have said it could very well be what the club needed or it could ruin us.
And I must ask, if you are planning for administration. Why would you pay it?
Say we went down the pheonix club route, would our debts be wiped out completely? what would happen because surely it isnt that easy.
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Awful thread.
And why dont you wait until this thing plays out before pointing the finger.
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Is it guaranteed that every creditor, apart from HMRC, will vote for the CVA?
Im no sure but if they dont wid they no get fuck all?
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If we got a CVA before the tax case verdict would HMRC have to accept the settlement agreed? say 10p to the pound.
Anyone?
If we agreed a CVA then the tax case went against us would HMRC have to accept the settlement agreed?
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If we got a CVA before the tax case verdict would HMRC have to accept the settlement agreed? say 10p to the pound.
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Hopefully in a years time people will appreciate what he has done for us.
We were fucked by Murray, he has came in and it has taken a lot of balls to do this. He is taking the blunt of everything but it is realistically the only option to get us back on a safe financial footing.
I really hope we come out of this ok and I want to hear from Whyte about this.
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He doesn't, he's one of the thousands of people that have become legal experts as a result of this case.
Bang on the money.
So because we have went into administration this is basically irrelevant?
So as WVB said we have either saved 9 million predicting this will happen or we are being shafted.
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Its not as if he is going to come out and accept all the blame when in reality he should.
It will more than likely be negative about Whyte.
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Whyte said we had money on SSN ?
Really ?
Im sure our creditors will be interested in that one if we file for administration.
You couldnt make some of this shit up ?
Not true.
I watched the interview and it was about him investing, he said he is willing to invest withing reason.
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Oh, i would bet you did.
I said there is no way we go into administration? I have said there is no way we will cease to exist and I stick by that but I cant remember that.
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Whyte said we had money on SSN ?
Really ?
Im sure our creditors will be interested in that one if we file for administration.
You couldnt make some of this shit up ?
Dont trust me on this.
I will try and find the interview but it wasnt as blunt as that.
Saturday...
in Jimmy Bell's Kitroom
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Thats just unrealistic.
We have a great average attendance as it is, the fact that the people who cant afford to go are rallying around and getting tickets for a game against Kilmarnock is great.
Cant wait for this game.