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Is this the way forward


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Just been talking with an extremely close family member who works for one of the big four accountancy/tax/business services companies and they have been looking at the current situation at Rangers and they have come up with a frightening scenario based on what they know and have been led to believe.

1. Craig White has not cleared the Rangers debt, he has bought it from Lloyds TSB, and Rangers now owe the money to him.

2. He is now Rangers’s main creditor so in effect he could call in the “loan” at any time dependant upon the “deal” he has in place.

3. If the tax case goes pear shaped Rangers will be in a position to claim on their tax advisors who will have professional liability insurance, that is assuming Rangers took their advice and it is documented.

4. If Rangers lose the case and have no claim against their advisors for whatever reason, Rangers go into administration and take the 10 point penalty.

5. Rangers then pay off whatever they can to their creditors and whatever is left(next to nothing) goes to HMRC.

6. Rangers raise again as Glasgow Rangers or whatever, we are debt free and Craig White still owns us.

7. CW can then rebuild the stadium and playing staff etc. and sell us on for a profit.

I hasten to add this is all complete speculation of course

Thoughts?

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What a waste of a post.

load of nonsense.

you start of with "a frightening scenario based on what they know and have been led to believe."

then end up with "I hasten to add this is all complete speculation of course"

Whyte already knows the outcome of the tax case. Rangers are in the clear end off.

all we have to do is wait till it is official.

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Sound exactly like this form http://rangerstaxcase.com/

Whyte has released a statement on the official Rangers website dismissing the calls for "vigilance" from outgoing directors as just sour grapes from men replaced for resisting change. His statement includes the following: "I believe most Rangers supporters understand that, as a result of the takeover, the Club's debt to the Lloyds Banking Group has been cleared and I have repeatedly stated to the Board my intentions to invest in the team." This statement is nothing short of a clear attempt to mislead Rangers supporters. It is a craftily worded statement (Hay McKerron must be exhausted) that amounts to an attempt to deceive his paying customers. Craig Whyte does not say that Rangers FC's debt has been reduced. He did not say this because he cannot say this. He cannot say this because it is not true. As this blog has stated several times, the debt which Rangers owed Lloyds banking Group was purchased by Whyte's Wavetower company (as it was then named) in a transaction that did not involve Rangers. The purchase of MIH's shares in Rangers FC by Whyte's firm for a single pound was a separate transaction. So Rangers do not owe Lloyds this money any more, but they owe the same amount to someone else: Whyte's company. Prove me wrong, Mr. Whyte. Make a fool of me. Discredit this blog by revealing the structure of Rangers' debt today. It is a plc and it does have 26,000 other shareholders who have a right to know the amount of indebtedness of the company they co-own with you. The truth is that Rangers' debt is about £28m (including negative working capital). The takeover did not change Rangers debt, but Whyte is trying to imply otherwise. Whyte is shaping up to make Sir David Murray look like a model of transparency and straight-talking. Rangers supporters and journalists should note what Whyte did not mention. Whyte ignored the "circular" that he is alleged to have promised to the Independent Board Committee (a sub-committee of the old Rangers board that reviewed the takeover proposal). Alastair Johnston says that this was originally promised to be released on 16 May, but is now scheduled for 6 June. This "circular" is supposed to reveal the how Whyte plans to fund Rangers going forward (the £25m investment promised). Perhaps Whyte is just practicing 'dignified silence' on this subject? Perhaps this is simply a subject that he does not want to discuss publicly in advance of a result in the tax case?

Load of shite stirring from fenians who cant handle us being in a good financial position for once.

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I do find the amount of people on forums who know someone that knows how tax cases go and have info on whats going on with rangers is amazing.

Exactly. Whyte knows the result of the tax case but is just waiting for the official announcement? What the fuck is that about?

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I dont see what everyones problem is with the OP? This is fairly obvious to anyone with half a brain....we were all laughing at Hearts when Romanov transferred their debt to his company. The OP said this is just a scenario not what is going to happen. If not burying my head in the sand makes me a tim you can go and fuck yerself.

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Take it you dont like sirwaltersmithlegend very much?

The fhanny who swore he'd never return and yet is still here? Not once mind, but twice.

1. If McCoist took over after Smith. So angry was he at that prospect that he said he'd 'chuck football all together."

2. Is Smith lead us to the league. So angry was he at that prospect that he said he'd 'never return to RM'.

I assumed it was because he would be so traumatised at The Rangers winning he couldn't face it or that he was a man of his word.

Guess what the outcome was? :sherlock:

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If Craig Whyte bought the debt, he would have paid 23million or whatever the figure was for the club, he never though. He paid us a quid, and paid off the debt. Close Thread, more timmys making up absolute bullshit. Trust the fuckin guy and stop listening to these soap dodging bastards.

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