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They are indeed a NEW team,dont let the cavemen from the west tell you any differently, i think it's their low intelligence level which makes them believe they are the same team.
its like your beloved pet labrador, sadly died so you get a new one, you may call it the same name however, it is infact NEW, it isn't the same dog :greengrin
dirty smelly huns
Don't think that's the case. The judgement establishes the payments as emoluments, not loans. Therefore they can't be repayable.Quote:
Originally Posted by Weststandwanab
So HMRC win the big tax case. Old Co RFC are no more so no money can be recovered. But.... were Old Co directors guilty of fraud as they knowingly used an illegal scheme to avoid paying Income Tax. Can said Directors be charged with Tax Evasion ? DM could end up in the Big L with his pals Whyte, Green & King. Now that would funny
So you think they will raise the £2.5m they need to see out the season?Quote:
Originally Posted by magpie1892
So will they now be forced in to issuing an apology to the clubs who printed in their programmes that the old rangers had died and this was a new club (or something to that affect). I remember last season The Rangers threatening legal action over any club or paper that suggested they were a new club.Quote:
Originally Posted by CraigHibee
they won't admit to it bud even though everyone elses knows the script, imagine a full 2 page spread of apology from sevco in the paper, now that would be hillarious :greengrinQuote:
Originally Posted by MB62
1. OldCo aren't "no more". They are still in liquidation. The judgement means that HMRC will get more of the pot than they would have if the case had gone the other way. Conversely, the smaller creditors will get less.Quote:
Originally Posted by southsider
2. the fraud case is a possibility. :agree:
this,this, this..won't ever happen sadly ,cos all the cowards running the show.Quote:
Originally Posted by givescotlandfreedom
It's £2.5m plus a possible £400k fine to spfl, £500k for Charlie's legal fees and Dave King and possibly Mike Ashley legal fees for contempt case in December. [emoji3]Quote:
Originally Posted by CropleyWasGod
Sent from my iPhone using Tapatalk
You may be right. I'm not sure whether they have assumed all of that in their sums. Let's hope not. :greengrinQuote:
Originally Posted by Ozyhibby
so this has no financial impact on Rangers because they were liquidated, fair enough so if that is the case then surely they can no longer claim to be Rangers anymore? Also funny to note the 2.5m needed to finish the season, 25 point deduction coming up!
Quote:
Originally Posted by Ozyhibby
Come on Ozzy... All that's not a problem with Dave King's millions at the ready! He's rolling in it... I mean he would never lie about anything, would he?! :greengrin
.... that's a 10-pager which has been done to death a few times on here. :greengrinQuote:
Originally Posted by Meeko
Couldn't agree more!Quote:
Originally Posted by givescotlandfreedom
It does have a financial implication.Quote:
Originally Posted by Meeko
Through the 5 way agreement and as a result of their uses of EBTs as decreed in the Lord Nimmo Smith verdict they have to stump up 400k to the SPFL.
They don't seem to have that money just now and given their other problems it might explain my a Jambo pal of mine lumped on Hibs to win the Championship last night.
I bet when the deal was stitched up, they weren't expecting the Rangers to lose the big tax case...Quote:
Originally Posted by AndyM_1875
He doesn't hang about. Good manQuote:
Originally Posted by Kato
http://blogs.channel4.com/alex-thomsons-view/
That's still to be decided. Rangers appealled, remember.Quote:
Originally Posted by AndyM_1875
http://sport.stv.tv/football/clubs/r...mith-ebt-fine/
So have I got this right? EBTs were a tax avoidance loophole back then but the way it was implemented - regular payments to effectively top up wages - was illegal?
What are the chances DM was innocent and did not know this? More chance of TRFC winning this season's League Cup 😀
Remember he said he was "duped" by Whyte? Yeah' right! Hopefully the upcoming court case washes that dirty linen in public, CG and CW know where those 'bodies are buried'.
Not that I am sticking up for them however surely they were cheating the minute they went into administration?Quote:
Originally Posted by givescotlandfreedom
Same could be said for the yams, Dundee, Livi, Motherwell etc. who were paying players without having the money to do so?
One would have to prove that SDM, and others, set out with the intention of defrauding HMRC. Given that, as EBT's were an accepted way of tax avoidance at that time, that would be difficult. RFC would say, rightly IMO, that they relied on professional advice.Quote:
Originally Posted by ACLeith
What they have done is neglectful, which is an HMRC "offence". However, it's a big leap from there to it being criminal.
I stand corrected, but looks likely a substantial fine will be delivered.Quote:
Originally Posted by CropleyWasGod
So they need 2.5m to see the season out? I am quite sure they will pull that in via gate receipts.
Say 12 league games to go, 10,000 walk ups at £20 a pop gives you 200k per game. Will be tight however I reckon they will manage it. Unfortunately.
They were able to pay players whilst in administration, out of the funds they had available.Quote:
Originally Posted by KeithTheHibby
Just to note that David Murray used EBTs in other bits of his Murray Group companies, most of whom he liquidated earlier on this year leaving only a trail of bank debt.Quote:
Originally Posted by CropleyWasGod
Is it time to create three different threads to help us keep up with all the Rangers/ Sevco stories:
1. Rangers liquidation & Big tax case.
2. Sevco v Mash
3. Imminent Administration of Sevco
We might need a fourth for all the other madcap stories from the Big Hoose.
By my reckoning they won the league by cheating inQuote:
Originally Posted by givescotlandfreedom
2002/03 ahead of Celtic
2004/05 ahead of Celtic
2008/09 ahead of Celtic
The Scottish Cup in
2001/02 beating Celtic
2002/03 beating Dundee
2007/08 beating Queen of the South
2008/09 beating Falkirk
The League Cup in
2001/02 beating Ayr Utd
2002/03 beating Celtic
2004/05 beating Motherwell
2007/08 beating Dundee Utd
I would expect that they will have already included expected income from gates when calculating the shortfall just as they will have estimated expenses.Quote:
Originally Posted by KeithTheHibby
Maybe they will get more from sold strips than they estimated. :greengrin
Does that not presume what the advice was though? Maybe they were told it was wrong and chose to ignore it? Just guessing mind :wink:Quote:
Originally Posted by CropleyWasGod
That's over and above receipts.Quote:
Originally Posted by KeithTheHibby
"The forecast identifies that the group will require up to £2.5m by way of debt or equity funding by the end of season
2015/2016 in order to meet its liabilities as they fall due".
Also:-
"The forecast indicates that an initial tranche of funds will be required in December 2015."