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Administration thread


debear

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Whyte will get paid either way.

If HMRC has there action granted they are then a secured creditor ( fact) which means all liabilities are protected , if whyte sets admin they are not protected , he is , seems to Me HMRC are playing poker with proper cards and Whytes cards are the happy families set .

I have a feeling Whytes bluff has been called and he did not expect this route to be taken by HRMC .

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I would be surprised if he hadnt expected this...
I bet he nevert expected this move tho casey and him not having a hand picked administrator could fuck his plans

I received information yesterday (you'll just have to trust me, or not) that made this a possible scenario, so if I found out about it then it shouldn't have come as a surprise to Whyte's people.

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Didn't think so! :D

Educate me.

I think this move today is the battle for preferred creditor status. If HMRC win it then Craig Whyte won't see much. He obviously made that move yesterday to preempt that. It's a game of poker, with Rangers in the middle; that part you know, but it's nice to remind ourselves of that time and again.

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Think if court orders appointment of an administrator to HMRC they get to appoint their own, whereas we'd appoint our own if we follow up our application from yesterday & enter administration ourselves.

Obviously, their appointee would be coming at it from a different angle to ours.

Appointments can be challenged by parties with significant stakes in the outcome.

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If HMRC has there action granted they are then a secured creditor ( fact) which means all liabilities are protected , if whyte sets admin they are not protected , he is , seems to Me HMRC are playing poker with proper cards and Whytes cards are the happy families set .

I have a feeling Whytes bluff has been called and he did not expect this route to be taken by HRMC .

Apologies, I thought that Whyte was the preferred creditor no matter what.

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