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Some Goods News Re BTC ,


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If this is true, it writes £63m to £70m off the oft-quoted maximum £134

Deduct also, the £27m from Ticketus, if it's Ng and his new partnership with them.

That would leave us with a total debt of £37m to 44m, which is almost payable at even 100p in the £, given time of course. (Indeed, the Lloyds debt went from £35m to £18m over 3 seasons.)

If the media are correct that Ng is offering £12m - £14m, then, after deducting £2m for Administrators, that's 22p - 27p in the £, which is more of a return than most CVAs I've read about.

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If they raised the height of the fences in the national then the horses would go slower thus making it less likely they would suffer fatal falls, but thats another deate :sherlock:

Aye - I got that the wrong way round! <cr>

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If this is true, it writes £63m to £70m off the oft-quoted maximum £134

Deduct also, the £27m from Ticketus, if it's Ng and his new partnership with them.

That would leave us with a total debt of £37m to 44m, which is almost payable at even 100p in the £, given time of course. (Indeed, the Lloyds debt went from £35m to £18m over 3 seasons.)

If the media are correct that Ng is offering £12m - £14m, then, after deducting £2m for Administrators, that's 22p - 27p in the £, which is more of a return than most CVAs I've read about.

Not exactly, the figures that Hillier's talking about are post-CVA, he is not saying that £6-12m will be the outcome of the FTT, merely the settlement made by HMRC

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If this is true, it writes £63m to £70m off the oft-quoted maximum £134

Deduct also, the £27m from Ticketus, if it's Ng and his new partnership with them.

That would leave us with a total debt of £37m to 44m, which is almost payable at even 100p in the £, given time of course. (Indeed, the Lloyds debt went from £35m to £18m over 3 seasons.)

If the media are correct that Ng is offering £12m - £14m, then, after deducting £2m for Administrators, that's 22p - 27p in the £, which is more of a return than most CVAs I've read about.

Were never going to lose the tax case.

Never evaded tax.

Paperwork issue over a few players, at most, if any.

Gerry Adams’s brother at the HMRC has lost his influence.

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What ! No burger/Fish Van :anguish:

I hate doing this on the phone, I've added the tweet now, but the outcome proposed by Hillier is ostensibly still good for us. If it were the outcome it should still be enough to see some amateur sky-diving from the Erskine Bridge

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I hate doing this on the phone, I've added the tweet now, but the outcome proposed by Hillier is ostensibly still good for us. If it were the outcome it should still be enough to see some amateur sky-diving from the Erskine Bridge

(tu):beer1:

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Cheers. Your interpretation was more accurate than mine.

Have you picked out anything else which would give an indication of how that would fit into a CVA?

Not really, he doesnt appear to be going into all that much detail, just saying he talked to people, done his sums and compared our situation to other similar ones and he sees that as a likely figure. He's not even ventured a guess as to what the outcome of the BTC is likely to be, but I don't know the average penny in the pound settlement for a CVA involving HMRC, so it may be possible to work it out if you have that figure???

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Not really, he doesnt appear to be going into all that much detail, just saying he talked to people, done his sums and compared our situation to other similar ones and he sees that as a likely figure. He's not even ventured a guess as to what the outcome of the BTC is likely to be, but I don't know the average penny in the pound settlement for a CVA involving HMRC, so it may be possible to work it out if you have that figure???

I've not done any average, but I've seen widely varying rates from a fraction of 1p in the £, to nearly 50p, bue most I've read have been single figure or low double figure settlements.

An added factor is if HMRC have actually agreed to it, or have been forced into it, having less than the minimum 25% to veto a CVA.

That will almost certainly be a veto that they will have in our case, so we need to keep them happy, but if a highly qualified man in the field thinks it's definitely a workable proposition, that maybe says more than either you or I can deduce from a combination of his words, a knowledge of our case and some googling. He certainly know the field and definitely appears to have given it some thought, after all.

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So by the theory... We should have a decision tomorrow?

There was murmers that we had lost this case, that was 2 weeks ago and not on taig sites, but i would imagine it would have came out by now.

I wonder if the judges will show some compassion if we do lose this

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