or the coaching/scouting/admin/marketing/groundstaff etc. Know it would be like peeing against the wind but it would save some money
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Anybody know what would happen if they were liquidated before the big tax case?
Rangers are finito like.
Can't see that happening, TBH.
If they went into liquidation tomorrow, it would take a while to sell off the assets, by which time the BTC verdict would be in.
In any event, HMRC would put in claim to the liquidator to cover the BTC, on the basis of their original assessment. If they won the case, their claim would be processed like any other creditor. If they lost, their claim would be consequently reduced.
Not so sure. CW got the cash and he paid Lloyds. I think Ticketus are entitled to believe they should get season tickets out of it but Rangers might well be able to blank them and point them towards CW. Ticketus appear to have been daft to deal with someone who wasn't Rangers at the time so they might well have to pursue CW over this one.
That's just one guess from what I can make out of this though and I'll bet Rangers are trying to look at it this way!
Good point. But Amanda Jones was quite clear on this last night. Employment law doesn't stop applying just because there is an administration, and players would have the right to sue.
Whether they could have funds ring-fenced, though, as I suggested... not sure. But it does seem that Employment Law trumps most things here. Hence the stand-off over the past few days.
New statement coming out from Duffers and (Please)Helpus:
Our client will not play in Europe next year.
:faf::faf::faf:
Link:
http://www.bbc.co.uk/sport/0/football/17285309
Fuctifano :greengrin
I wish they'd bloody hurry up... it's the key to the whole thing, IMO.
It is imminent, but I have heard March, and I have heard April. The Tribunal will be taking their time, because they know the importance of their decision. Whatever they decide will have consequences far beyond Govan.
I think as far as Rangers are aware they got the benefit of cash from CW, doesn't matter to them where from and he chose to pay off Lloyds.
Isn't that just gone and paid though - why would CW be looking for that or entitled to that back now? Unless he paid it as a loan to the club who then paid Lloyds.
I think Ticketus are going to struggle with this one and if anything CW is on the line for it.
Edit: Administrators saying they are still looking into this.
Although we disagree on how we get there, I would agree that, in practice, it's unlikely that Ticketus will get anything from RFC. Even if their claim is admitted by the admins or a liquidator:-
1. there will be no CVA. Even if there was one, the dividend would be pennies.
2. if the club is sold on, the buyer would probably say "I don't want the Ticketus debt". If the admins agree to that, Ticketus get nowt.
3. in a liquidation, it's back to 1 above, although selling off the assets would probably increase the dividend.
So after 90 pages has a conclusion been drawn?! Does no one work around here!
Sent from the i****ter
One point about the Ticketus deal - on the face of it there is no debt due to them either by RFC or CW. Rangers/CW have sold Ticketus a commodity (future ticket sales) at an agreed price, and that price has been paid over. The fact that that commodity might now have no value is Ticketus' bad luck - that's what investment is all about. They may have a claim for misrepresentation (probably against CW) if there's no events to sell tickets for, but in theory at least there's no monetary debt at the moment. I can't see that prospective buyers can change that, they can only reduce the amount they are willing to pay for the club.