Is this the way forward

[TravelingWilBEARy 4,319]

I'm scared.

[dominorfc 0]

I'm not scared, dont see things playing out that way tbh, I'm just aware that the debt has not been cleared so its not the best situation in the world. I'm happier owing the debt to Whyte rather than the banks or some fucker like Romanov.

[robertkay 39]

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.

I've put my response in italics below.

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

We will find out about this in the financial report so I would imagine if this is true then it will be in the circular being sent to shareholders, no point lying about it

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.

He knows the financial situation of the club when he bought us and is aware that to call in the loan would mean asset stripping. I am sure Murray Park is on Greenbelt land so no use to a developer and The Bill Struth Main Stand is a listed building so cannot be demolished so no use to a developer. Our squad is only worth what someone is willing to pay for it so doubt he would take the risk of "buying" such a debt.

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.

This part I agree with and it is common practice to sue a professional advisor for poor advice that detriments your business. The advisor(s) themselves will be insured against this.

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.

No one will know the exact liability until it has been established there is one, so no one knows if it would be enough to go into administration.

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

I am sure HMRC would get the first bite of the cherry, and the creditors get whatever is left.

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

Not 100% on this part but if we are assuming we go into administration and satisfy our debts, then we don't need to re-open as anything else, the company still exists. If we are assuming the company isnt able to satisfy the administrators restrictions and close then CW would not be in charge of the new company, unless he opened it.

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

The most fanciful of all the 7 points imo. You cannot rebuild what have at Rangers. If any of the above where true and we went out of business then the biggest loss is our history and traditions, which you cannot replace.

I hasten to add this is all complete speculation of course

Thoughts?

I've got to stress that my response isnt a dig at the OP it's just my response. If the OP has heard this then im sure we all appreciate them passing it on but my summary of this "scenario" is that CW would have just as much to lose as Rangers by calling in the loan.

[bluepeter 5,627]

I'm not scared, dont see things playing out that way tbh, I'm just aware that the debt has not been cleared so its not the best situation in the world. I'm happier owing the debt to Whyte rather than the banks or some fucker like Romanov.

Wavetower will also acquire the indebtedness of Lloyds Banking Group, the secured creditor, and is under an obligation to waive this debt in the foreseeable future, thereby strengthening the Club's balance sheet.

[dominorfc 0]

Well if thats the case " YA Fuckin Dancer!"

[Getstiffed 8,863]

Yeah yeah yeah and big giant polar ice caps are coming to freeze us all to death or is it hot lava? I can never figure out this type of mumbo jumbo.

The club bought. We're moving forward. Please tell timmy to get over it.

[gogzy 31,195]

i agree with bluepeters post. yes he transferred the debt to his own company and has also stated that his company will waive that debt.

[Smile 26,610]

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?

Are you the gobblegiver.

[SteveJ 743]

Has someone changed the rules of the internet, recently?

As much as RM is a great place to be for a 'Ger, it also must be credited for being one of the worst places for an individual to make a post, that the majority do not want to read.

The OP clearly stated he did not know the facts and gave us an insight into a conversation he had. If those who are not happy with the post would just leave the thread alone, people could have a debate but at RM, those who do not like the thread, just start battering the OP and that is just bloody childish behaviour in my book.

The OP stated he never knew the facts, yet he is the one getting berated for talking pish - from the very people who are claiming the tax case has been won and we are off scot free - FACTS OR PISH?

[BearAbroad 42]

Wake up from your wet dream Timothy. If this crap is to be believed then Whyte has bought the club for a grand total of a quid... Murrays recent judgement on Rangers has been questionable to say the least... however If he has been hoodwinked like this then he may as well have arrived up Clyde on a banana boat!!

[Gillete 1,338]

Why is he posting that pish if he doesn't know

Utter nonsense

I could make up a scenario happening

Time to start banning posters who spout lies and scaremonger

[dougied123 222]

I am not sure why there is all the doom & gloom about the takeover. Possibly because of the comments of some board members with an axe to grind?

This guy Craig Whyte has come up with the money that no one else could/would at a time where we needed it more than ever. Please imagine the scenario of being without him right now! With loan players leaving us, players reaching the end of their contracts and all the other black clouds over us, coupled with NO investment and debt repayments, pressure fom LLOyds etc etc etc etc. Where would we be now guys!

We must remain positive and be thankfull for what we now have. We can now look forward to signing some fresh faces, bringing new blood into the squad and another chance at the CL. If by the start of next season we have not signed anyone then I will be worried about what is happening. However, at the moment we must take Mr Whyte to his word and get behind him!

[SteveJ 743]

Why is he posting that pish if he doesn't know

Utter nonsense

I could make up a scenario happening

Time to start banning posters who spout lies and scaremonger

I reckon that might be the way forward if people do not wish to read 'scenarios', because what the OP is getting borders on abuse

[BallochBear 1,613]

I reckon that might be the way forward if people do not wish to read 'scenarios', because what the OP is getting borders on abuse

Thanks for your support mate, nowhere did I say it was going to happen, only that some of the world's leading experts think it's possible. My source who will obviously have to remain un-named is a fully qualified C.A. and C.T.A. so his company do know what they are doing when they advise on financial issues.

[Gillete 1,338]

Thanks for your support mate, nowhere did I say it was going to happen, only that some of the world's leading experts think it's possible. My source who will obviously have to remain un-named is a fully qualified C.A. and C.T.A. so his company do know what they are doing when they advise on financial issues.

Your source wil have " no fucking clue " as to what our tax case is about

Only those within the club

They are guessing , plain and simple

Nonsense

[Gillete 1,338]

Thanks for your support mate, nowhere did I say it was going to happen, only that some of the world's leading experts think it's possible. My source who will obviously have to remain un-named is a fully qualified C.A. and C.T.A. so his company do know what they are doing when they advise on financial issues.

Your source wil have " no fucking clue " as to what our tax case is about

Only those within the club

They are guessing , plain and simple

Nonsense

[BallochBear 1,613]

Your source wil have " no fucking clue " as to what our tax case is about

Only those within the club

They are guessing , plain and simple

Nonsense

If you opened your eyes and actually read what I wrote I said it was one possible scenario. And if you also read the post and reply I also stated they were a C.T.A and C.A. with one of the world's big four companies in that field, so in my humble opinion they will know what the case is about as they advise other sporting organisations on similar issues.

Why do most people not simply take posts at face value instead of assuming it's a wind up or whatever, you really are a sad shallow lot.

[theySTILLKNOW 80]

Some people just love outing themselves,it is incredibly funny. :chopometer:

[SteveJ 743]

If you opened your eyes and actually read what I wrote I said it was one possible scenario. And if you also read the post and reply I also stated they were a C.T.A and C.A. with one of the world's big four companies in that field, so in my humble opinion they will know what the case is about as they advise other sporting organisations on similar issues.

Why do most people not simply take posts at face value instead of assuming it's a wind up or whatever, you really are a sad shallow lot.

Because you are interupting some members ability to dig in the sand with their head.

For some people, you are not a Rangers fan unless you wear blinkers and only believe the fairytale stories

[boss 1,941]

If you opened your eyes and actually read what I wrote I said it was one possible scenario. And if you also read the post and reply I also stated they were a C.T.A and C.A. with one of the world's big four companies in that field, so in my humble opinion they will know what the case is about as they advise other sporting organisations on similar issues.

Why do most people not simply take posts at face value instead of assuming it's a wind up or whatever, you really are a sad shallow lot.

There is so much wrong with the points your 'close family member' makes in the OP that it is hard to know where to start. I know plenty CAs in big four firms that are, eh, not nearly as good as they think they are. Your 'close family member' appears to be one of them.

Best thing you can do is to ignore them the next time.

[ClintonGrey 365]

Can we please start banning people who post clear scaremongering bullshit that anyone with half an inclination towards business can dismiss?

[TheLawMan 6,240]

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?

1. That is my belief as well.

2. I believe he is our main creditor, though i very much doubt he can call any loan in at any given time.

3. IF, yes IF, thats IF it goes pear shaped then we should have a claim against PI, though normally the level of indemnity will be around one or two million.

4. They cannot possibly state this with any certainty given that the final amount due to be paid IF, yes IF, thats IF it goes pear shaped is unknown. If its as large as "some" would have you believe then yes its possible, but "some" are just making figures up tbh.

5. That is my understanding. HMRC will end up with practically hee haw in this situation described IF, yes IF, thats IF it goes pear shaped.

6. We would rise again, but it would depend on who "bought" the assets to pay off the creditors.

7. So could anyone who was willing to part with the biggest amount to purchase the assets, so this would not be limited to or restricted to Craig Whyte. Who knows, maybe David Murray would pay £20 million to buy Rangers back off him.

For those who say "we dont have a tax bill, we have won the case" well thats every bit as daft as the "some" who claim we have a bill and its £60 million +

The tax case is real. The decision is unknown. Its a wait and see job.

Its my view though, that as things stand, the only people who will lose out of all this is me and the other 40,000 souls who pay our season ticket money year in year out...........

IF, yes IF, thats IF it goes pear shaped.

PS - the abuse the OP got is pretty shit.

[Gillete 1,338]

He should post his pish on kiddyfiddlers FC forum then

[royalbluebell 38]

Someone can keep me right, but isn't the OP an acquaintance of Speirs?

[Gillete 1,338]

I think he was in social care and moved to ireland