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Is The CVA Dead ?


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It appears HMRC have not ruled out the possibility of a CVA at all but just the one proposed.

Statement on Rangers Football Club

"A liquidation provides the best opportunity to protect taxpayers, by allowing the potential investigation and pursuit of possible claims against those responsible for the company’s financial affairs in recent years. A CVA would restrict the scope of such action. Moreover the liquidation route does not prejudice the proposed sale of the club. This sale can take place either through a CVA or a liquidation.

So the sale is not being undermined, it simply takes a different route. Liquidation will enable a sale of the football assets to be made to a new company, thereby ensuring that football will continue at Ibrox. It also means that the new company will be free from claims or litigation in a way which would not be achievable with a CVA. Rangers can make a fresh start."

http://www.hmrc.gov.uk/news/rangers.htm

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It appears HMRC have not ruled out the possibility of a CVA at all but just the one proposed.

Statement on Rangers Football Club

"A liquidation provides the best opportunity to protect taxpayers, by allowing the potential investigation and pursuit of possible claims against those responsible for the company’s financial affairs in recent years. A CVA would restrict the scope of such action. Moreover the liquidation route does not prejudice the proposed sale of the club. This sale can take place either through a CVA or a liquidation.

So the sale is not being undermined, it simply takes a different route. Liquidation will enable a sale of the football assets to be made to a new company, thereby ensuring that football will continue at Ibrox. It also means that the new company will be free from claims or litigation in a way which would not be achievable with a CVA. Rangers can make a fresh start."

http://www.hmrc.gov.uk/news/rangers.htm

I think they are saying quite the opposite, they want to pursue Whyte - so liquidation

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So in doing so they can go after Whyte, Murray and everyone else including players, club officials, basically anyone who had anything to do with non payment of the correct amount of tax.

[1] Are they saying that they will accept Green buying all the assets for 5.5 million

[2] Are they protecting RFC from any further dealings regards this by rejecting the CVA.

[3] Is this in some way admitting defeat in regards to the BTC

For me history is never broken but having endured all of the ups and downs of the last several months starting with a clean sheet seems not a bad position to be, you cant write or make documentaries about something that is no longer attached to the club, to me Rangers is Rangers end of.

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It appears HMRC have not ruled out the possibility of a CVA at all but just the one proposed.

Statement on Rangers Football Club

"A liquidation provides the best opportunity to protect taxpayers, by allowing the potential investigation and pursuit of possible claims against those responsible for the company’s financial affairs in recent years. A CVA would restrict the scope of such action. Moreover the liquidation route does not prejudice the proposed sale of the club. This sale can take place either through a CVA or a liquidation.

So the sale is not being undermined, it simply takes a different route. Liquidation will enable a sale of the football assets to be made to a new company, thereby ensuring that football will continue at Ibrox. It also means that the new company will be free from claims or litigation in a way which would not be achievable with a CVA. Rangers can make a fresh start."

http://www.hmrc.gov.uk/news/rangers.htm

I read it the same way first time. I think what they mean is the club could have been sold thru liquidation or CVA. CVA is dead.

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