Big Rangers Administration/Liquidation Thread - All chat here!

[AberdeenBud]

We were refused a CVA by the supposed largest creditor , HMRC, was it not their refusal that denied the small creditors the money that they would have got through a CVA?

Supposed?

HMRC refuse CVA's as a matter of course. It's on their website.

Revisionism to make HMRC the bad guy's in this just won't wash.

[AberdeenBud]

 

They would have gotten an extra few million if the cVA had been approved. (HBQC will have the exact figures)

 

Saw the other day that HMRC spent over £3m on the FTT and are spending similar on the UTT when they know that even if they win, they'll never recoup any of that money. Madness.

I doubt they would have got "an extra few million" if the offer was pennies in the pound, tbh.

[Highlandmagyar]

You had better keep them for wiping ALL the shite that comes out of your mouth.

[bennett]

You had better keep them for wiping ALL the shite that comes out of your mouth.

Cheers but they're not real, it's just a picture of tissues.

[youngsy]

Supposed?

HMRC refuse CVA's as a matter of course. It's on their website.

Revisionism to make HMRC the bad guy's in this just won't wash.

That's not strictly true. HMRC will support a CVA if it's properly structured and the company has been compliant with tax rules up until the CVA proposal is put forward. In this case the PLC under Whyte was not compliant with tax rules by withholding PAYE and N.I.

[AberdeenBud]

That's not strictly true. HMRC will support a CVA if it's properly structured and the company has been compliant with tax rules up until the CVA proposal is put forward.  In this case the PLC under Whyte was not compliant with tax rules by withholding PAYE and N.I.

Well with old Rangers being pretty much the antithesis this description, the refusal of the CVA was never in doubt.

As us crazy Diddy's said for a while.

[youngsy]

Aye it was only that HMRC were upset about .,.. they were on your case about EBT's long before Whyte became involved.

The PLC was not liquidated because of the EBT case, that was challenged and the challenge was upheld by a 2-1 majority, albeit under appeal. Read about it, it's in all media outlets.

[WhiteRoseKillie]

The PLC was not liquidated because of the EBT case, that was challenged and the challenge was upheld by a 2-1 majority, albeit under appeal.  Read about it, it's in all media outlets.

All you bears must be so proud to have such a plethora of reasons to choose from for your club's death.

[AberdeenBud]

The PLC was not liquidated because of the EBT case, that was challenged and the challenge was upheld by a 2-1 majority, albeit under appeal.  Read about it, it's in all media outlets.

Yes, but Rangers have admitted their willful nonpayment of social taxes was inpart a "negotiating ploy" with HMRC over the BTC.

And why do you think The Hero was able to get his grubby little paws on oldco for a quid?

Again, revisionism of the highest order to pretend that the BTC played no part in the liquidation of Rangers.

[Ken Fitlike]

poor lambs just want us to let them carry on just as before, and we are such cruel spiteful beasts for not letting them off with their fantasy for a single second. Not now. Not Ever.

'it was the company not the club'

'we won the tax case'

'we kept our history'

'when we get back...'

'it was all the fault of Craig Whyte'

'we gained no sporting advantage from using EBTs'

'the SFA are our enemies'

Face it bears - if you can face things with your heads in the sand - you will NEVER be able to gloat over the other clubs again. Any attempt at WATP shite will be simply countered with a run down of your catalogue of catastrophe. All brought on by yourselves

[Umbungo1874]

That's not strictly true. HMRC will support a CVA if it's properly structured and the company has been compliant with tax rules up until the CVA proposal is put forward. In this case the PLC under Whyte was not compliant with tax rules by withholding PAYE and N.I.

In this case Rangers owed tax going back 10 years so the cheating tax did not start with Whyte he only continued the tradition.

[youngsy]

Whatever you say Youngsy ... Rangers were hemorrhaging money under SDM and the books were cooked. It didn't just fall apart when Craig took over.

Murray tried to offload Rangers long before that and nobody was interested because it was dead duck ...

You can pretend otherwise if it suits you .. but nobody other than a delusional bear buys the story that it was Craig that f****d your old club.

Do keep trying though.

So tell us all then, was The Rangers Football Club PLC liquidated because of the EBT case or because HMRC initiated the liquidation because of non-payment of PAYE & N.I. I don't have to pretend about anything, we all know about Murray and of his trying to offload but with the potential liability of the EBT case no one was prepared to take that on.

[Ken Fitlike]

So Rangers did pay off some of the debt then?

just the document shredding company........

[youngsy]

Forget the liability - Murray pumped 50 million into the old club just to reduce it's debts of eighty million which didn't include the looming tax cases ... Old Rangers was a club of overspend and spunking money up the wall.

It all came tumbling down ... Craig was just the patsy.

Davey pumped 50 million of borrowed money from the banks for his other businesses and reduced the old club's debt ..

80 million. Mind you 12 of that was for Flo ,,, well worth it eh Youngsy .. a club well run ..

Run into the ground ... but you keep your delusions intact,

I think I've already stated many times about Murray and his running of the finances, we all know about that. Now would you like to answer the question as to the reason why the PLC was liquidated under Whytes' tenure.

[Fotbawmad]

You'll find the creditors got heehaw worth having either .... anyone know the exact figure (pence in the pound) they eventually received after (RANGERS along with D&P) shafted them?

I'm pretty sure the amount Chuckles paid was exactly the fee D+P run up.

I assume you've had a go at dunfermline for not paying bacvk a penny in their CVA, including the Ambulance service.

Did we ever pay back that money to the SAS Norman?

Oh 3rd episode of Bates motel tonight too.

Masterton was by far the biggest creditor, and HMRC's policy of chasing individuals after liquidation. A CVA was never in doubt, despite having FIFE airport as a creditor

[captain kirk]

Keep it comming....

[wunfellaff]

I think I've already stated many times about Murray and his running of the finances, we all know about that. Now would you like to answer the question as to the reason why the PLC was liquidated under Whytes' tenure.

For the same reason they should have been liquidated earlier.

Inability to trade whilst being solvent.

Feck sake youngsy, that didn't even get enforced during the administration period.

eta, they were liqudqted after whyte. indeed it isn't finalised yet, which is better, what with the option to reverse the sale still alive

Edited September 26, 2013 by wunfellaff

[strichener]

I think I've already stated many times about Murray and his running of the finances, we all know about that. Now would you like to answer the question as to the reason why the PLC was liquidated under Whytes' tenure.

Because the taxes weren't paid and HMRC wanted to have the liquidators investigate the running of the club. This investigation into the running of the club may include former directors in addition to the directors at the time the liquidators are appointed. Statement from HMRC began:

"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."

Note the term recent years and not just the past year!!!

[timmy]

Why did murray pay for rangers defence in the tax case? What would be the point in that?

[~British Patriot~]

Has HBQCB&QBBQ apologised yet?