spangles 7 Posted June 6, 2011 Author Share Posted June 6, 2011 The debt is being waived within 90 days of the tax case finalising unless we go bust.I know, some don't. Link to post Share on other sites More sharing options...
kplfishtank 4,667 Posted June 6, 2011 Share Posted June 6, 2011 so have I lost my season ticket money? cause Benburb are putting pressure on me to buy a season book for them and if we`ve gone tits up Im jumping in and watching the Bens Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 6, 2011 Share Posted June 6, 2011 The debt is being waived within 90 days of the tax case finalising unless we go bust.so whats you view on what whytes done. seems fairly sensible to me. we win the case hes invested but the clubs worth alot more. we loose badly and hes owed fortunes. we loose a little and rangers pay it not him.is that about right. Link to post Share on other sites More sharing options...
ogbg 20 Posted June 6, 2011 Share Posted June 6, 2011 well if he doesn't waive it is because we are in insolvency because of hmrc. under those circumstances we know what happens.I guess I just mean that he doesn't offer any route towards avoiding us going insolvent should we get a hefty bill. But there's not really much he could do except pay it, which he obviously couldn't, so it's not really a big criticism. Link to post Share on other sites More sharing options...
forlanssister 157 Posted June 6, 2011 Share Posted June 6, 2011 This is ONLY if we go insolvent, and only means Whyte will get the money he has invested back before HMRC get theirs. Again, ONLY if we go insolvent. I honestly can't figure out the mentality of some posters What it means is that irrespective of the outcome of the tax case RFCG Ltd cannot lose (save their £1) but Rangers can if the outcome is unfavourable, you can see that can't you?For someone so certain that we have no case to answer re HMRC Whyte has certainly been busy covering his arse. Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 6, 2011 Share Posted June 6, 2011 The second bolded does not prevent the execution of the first bolded, a public offering, as opposed to the second being a private option relating to The Rangers FC Group. The fans taking up the slack of the public offering and pissing in the pot, the sort of scheme were Minty got his fingers burned. a share offering will likely only dilute the small investor. its unlikely anyone other than whyte will invest. the one minty did had no affect on rangers other than to reduce debt. Link to post Share on other sites More sharing options...
bluepeter 5,627 Posted June 6, 2011 Share Posted June 6, 2011 What it means is that irrespective of the outcome of the tax case RFCG Ltd cannot lose (save their £1) but Rangers can if the outcome is unfavourable, you can see that can't you?For someone so certain that we have no case to answer re HMRC Whyte has certainly been busy covering his arse.What did you expect him to do? Link to post Share on other sites More sharing options...
spangles 7 Posted June 6, 2011 Author Share Posted June 6, 2011 They say they've an agreement to waive the debt so, assuming that agreement is guaranteed somehow, they will surely waive the debt. They also say they won't take up the equity option "as provided for in the agreement" which, presumably, is the first bit in bold.No you have them the wrong way around, there is nothing to prevent a public offering. Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 6, 2011 Share Posted June 6, 2011 I guess I just mean that he doesn't offer any route towards avoiding us going insolvent should we get a hefty bill. But there's not really much he could do except pay it, which he obviously couldn't, so it's not really a big criticism.nope he couldnt. Link to post Share on other sites More sharing options...
ogbg 20 Posted June 6, 2011 Share Posted June 6, 2011 No you have them the wrong way around, there is nothing to prevent a public offering.So what is "its option to convert it into equity as provided for in the Agreement"? Link to post Share on other sites More sharing options...
bluepeter 5,627 Posted June 6, 2011 Share Posted June 6, 2011 No you have them the wrong way around, there is nothing to prevent a public offering.You really need to give yourself a slap shake. You seemed desperate for today's circular to either not happen, or contain some bombshell which would be negative for Rangers. Neither of those things happened, but you're still looking for negatives. I presume you claim to be a Rangers fan, so why are you so intent on looking for worst case scenarios? Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 6, 2011 Share Posted June 6, 2011 No you have them the wrong way around, there is nothing to prevent a public offering.and nothing to make people take it up. especially as it will be clear its going to debt not rangers. the worst he can do is dilute the shares of others. no big deal. Link to post Share on other sites More sharing options...
forlanssister 157 Posted June 6, 2011 Share Posted June 6, 2011 and nothing to make people take it up. especially as it will be clear its going to debt not rangers. the worst he can do is dilute the shares of others. no big deal.If he dilutes the shares of others to the point he has over 90% then it does become a very big deal for those of us who wish to maintain a shareholding in RFC. Link to post Share on other sites More sharing options...
spangles 7 Posted June 6, 2011 Author Share Posted June 6, 2011 and nothing to make people take it up. especially as it will be clear its going to debt not rangers. the worst he can do is dilute the shares of others. no big deal.The point was there is no bar to a public issue, Murray's failure led us into all sorts of problems, as with everything else Whyte is in a no lose situation. He/They have agreed to forgo their option, a public issue if taken up negates the forgoing and still brings money into the clubs coffers, under the control of Whyte and co. Link to post Share on other sites More sharing options...
boss 1,941 Posted June 6, 2011 Share Posted June 6, 2011 so whats you view on what whytes done. seems fairly sensible to me. we win the case hes invested but the clubs worth alot more. we loose badly and hes owed fortunes. we loose a little and rangers pay it not him.is that about right.I'd agree pretty much.We win the case (or lose the case without going bust) Whyte basically gets the Club for the £18m (and a promise to find a further £20m investment within 5 years); in this scenario we also 'win' (by getting the debt written off) to the extent that any tax bill is less than £18m.We lose the case badly, Whyte (probably) gets all his money back before the tax man. Link to post Share on other sites More sharing options...
boss 1,941 Posted June 6, 2011 Share Posted June 6, 2011 For someone so certain that we have no case to answer re HMRC Whyte has certainly been busy covering his arse.I would have thought we should all be encouraged that Whyte is proving to be so thorough in his approach. Link to post Share on other sites More sharing options...
RFC55 110,229 Posted June 6, 2011 Share Posted June 6, 2011 I would have thought we should all be encouraged that Whyte is proving to be so thorough in his approach. Businessman covers his arse shocker! Link to post Share on other sites More sharing options...
forlanssister 157 Posted June 6, 2011 Share Posted June 6, 2011 I would have thought we should all be encouraged that Whyte is proving to be so thorough in his approach. I'd be more encouraged if it was the arse of RFC that was covered. Link to post Share on other sites More sharing options...
kplfishtank 4,667 Posted June 6, 2011 Share Posted June 6, 2011 I would have thought we should all be encouraged that Whyte is proving to be so thorough in his approach. only the ones that want him to be Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 6, 2011 Share Posted June 6, 2011 I'd agree pretty much.We win the case (or lose the case without going bust) Whyte basically gets the Club for the £18m (and a promise to find a further £20m investment within 5 years); in this scenario we also 'win' (by getting the debt written off) to the extent that any tax bill is less than £18m.We lose the case badly, Whyte (probably) gets all his money back before the tax man.so the taigs are down to hoping hmrc are nuts and put us in liquidation out of badness or hoping the bill is north of 18 million but not to bad. 43 million really what with the 25 million extra investment. Link to post Share on other sites More sharing options...
bluepeter 5,627 Posted June 6, 2011 Share Posted June 6, 2011 I'd be more encouraged if it was the arse of RFC that was covered.Did you think he was going to come in, pay £18m to clear our debt, waive it immediately then promise to personally pay anything we owe from the tax case? Really? Link to post Share on other sites More sharing options...
boss 1,941 Posted June 6, 2011 Share Posted June 6, 2011 No you have them the wrong way around, there is nothing to prevent a public offering.Any public offering is entirely separate from the waiving of the debt. I think you are confused, deliberately or otherwise. Link to post Share on other sites More sharing options...
MisterC 12,445 Posted June 6, 2011 Share Posted June 6, 2011 Much as I would love to trawl through all the pages in this thread, I want to maintain the will to live. So can someone give me a summary based on concrete facts on what has (or hasnt) happened today? Link to post Share on other sites More sharing options...
boss 1,941 Posted June 6, 2011 Share Posted June 6, 2011 I'd be more encouraged if it was the arse of RFC that was covered.Fairy godfathers don't exist in the real world. Link to post Share on other sites More sharing options...
forlanssister 157 Posted June 6, 2011 Share Posted June 6, 2011 Fairy godfathers don't exist in the real world. Sad but true, as we may unfortunately soon find out. Link to post Share on other sites More sharing options...
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