Generic Sevco / Rangers meltdown thread

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05-07-2015, 02:52 PM
Bostonhibby

Quote:

Originally Posted by greenginger

Derry's Walls :confused:

Is that the one that starts,

" The cry was no attenders " :greengrin

[emoji106] or was it
"The cry was tax offenders

Offended then they died"
05-07-2015, 06:11 PM
Betty Boop

Quote:

Originally Posted by greenginger

Deloittes also audit a couple of animal testing labs and fracking outfits so I don't think a few threats from deluded keyboard warriors will be enough to scare them off.

Presumably the threats stopped when the real Rangers men took control.

Maybe its just a good excuse to sever ties with a basket case of an company.

The Council also used them to consult on the massive cuts they will be making.
05-07-2015, 06:17 PM
number9dream

The latest HMRC appeal against the big tax case is scheduled to start tomorrow.
05-07-2015, 06:19 PM
bingo70

Quote:

Originally Posted by number9dream

The latest HMRC appeal against the big tax case is scheduled to start tomorrow.

Will that have any relevance to the new company?
05-07-2015, 06:26 PM
Onceinawhile

Quote:

Originally Posted by bingo70

Will that have any relevance to the new company?

No.
05-07-2015, 06:28 PM
CropleyWasGod

Quote:

Originally Posted by bingo70

Will that have any relevance to the new company?

It may do.

If HMRC lose the case, there will be more money available to the other creditors....... of whom DK is one. :cb
05-07-2015, 06:29 PM
Billy Whizz

Quote:

Originally Posted by CropleyWasGod

It may do.

If HMRC lose the case, there will be more money available to the other creditors....... of whom DK is one. :cb

And if hmrc win the case?
05-07-2015, 06:30 PM
CropleyWasGod

Quote:

Originally Posted by Billy Whizz

And if hmrc win the case?

There will be less? :greengrin
05-07-2015, 06:34 PM
Jack Hackett

Quote:

Originally Posted by Cropley10

Not sure why threats stopped when the new board arrived. The WATP mentality is to threaten anyone who they feel is against them.

Deloitte were, IMO, not at all comfortable that The Rangers were trading whilst insolvent- and must have been dead keen to get away.

Sent from a phone

Probably because they had a new spawn of satan to concentrate their righteous ire on in Mike Ashley. Bit of an overtax of the grey matter if they have to split their attention.
05-07-2015, 06:55 PM
HoboHarry

Quote:

Originally Posted by CropleyWasGod

It may do.

If HMRC lose the case, there will be more money available to the other creditors....... of whom DK is one. :cb

So given that DK is not backing Sevco with his own money (at least not in any real quantity) could this have been his motivation to gain control? Will it help him get some of his money back if Hector loses?
05-07-2015, 06:59 PM
CropleyWasGod

Quote:

Originally Posted by HoboHarry

So given that DK is not backing Sevco with his own money (at least not in any real quantity) could this have been his motivation to gain control? Will it help him get some of his money back if Hector loses?

He, and Sevco, have no influence on the HMRC case. It's irrelevant who is in control.

It's in his interests, as I say, for HMRC to lose. He may be banking on that, to enable him to put cash into the club.
05-07-2015, 07:03 PM
HoboHarry

Quote:

Originally Posted by CropleyWasGod

He, and Sevco, have no influence on the HMRC case. It's irrelevant who is in control.

It's in his interests, as I say, for HMRC to lose. He may be banking on that, to enable him to put cash into the club.

I'm willing to bet you a bottle of fine white wine that he will not be putting any substantial amount of his own money into Sevco whether he gets some of it back or not........
05-07-2015, 07:17 PM
tamig

Quote:

Originally Posted by CropleyWasGod

He, and Sevco, have no influence on the HMRC case. It's irrelevant who is in control.

It's in his interests, as I say, for HMRC to lose. He may be banking on that, to enable him to put cash into the club.

Is he likely to benefit to the tune of a few million or more then? I didn't think the numbers at stake - should HMRC lose - were at anything like those levels.
05-07-2015, 07:25 PM
CropleyWasGod

Quote:

Originally Posted by tamig

Is he likely to benefit to the tune of a few million or more then? I didn't think the numbers at stake - should HMRC lose - were at anything like those levels.

He might do.

At the moment, the dividend is 6/7 pence in the £, based on a distribution of £10m. So DK will get £1.2-1.4m.

HMRC's claim in the BTC is £72m.

So, if they lose, the pot increases 7-fold. Whether that means the dividend does is another matter.
05-07-2015, 08:41 PM
tamig

Quote:

Originally Posted by CropleyWasGod

He might do.

At the moment, the dividend is 6/7 pence in the £, based on a distribution of £10m. So DK will get £1.2-1.4m.

HMRC's claim in the BTC is £72m.

So, if they lose, the pot increases 7-fold. Whether that means the dividend does is another matter.

So not a huge "windfall" in the bigger scheme of things - unless the dividend increases. Thanks for the info. Do you have a view as to how this appeal is likely to pan out?
05-07-2015, 08:46 PM
CropleyWasGod

Quote:

Originally Posted by tamig

So not a huge "windfall" in the bigger scheme of things - unless the dividend increases. Thanks for the info. Do you have a view as to how this appeal is likely to pan out?

Not really. Like a lot of these tax test-cases, it's gone beyond the letter or the spirit of the law, and is now about skilled lawyers splitting hairs about words and nuances.
05-07-2015, 11:11 PM
greenginger

Quote:

Originally Posted by CropleyWasGod

Not really. Like a lot of these tax test-cases, it's gone beyond the letter or the spirit of the law, and is now about skilled lawyers splitting hairs about words and nuances.

Any idea who is paying for the skilled lawyers on the Rangers 1872 ( RIP ) side.
06-07-2015, 02:05 AM
Cropley10

Quote:

Originally Posted by HoboHarry

I'm willing to bet you a bottle of fine white wine that he will not be putting any substantial amount of his own money into Sevco whether he gets some of it back or not........

:agree: He's only got slightly more money than Potless Paul
06-07-2015, 06:40 AM
CropleyWasGod

Quote:

Originally Posted by greenginger

Any idea who is paying for the skilled lawyers on the Rangers 1872 ( RIP ) side.

BDO, hence the creditors.
06-07-2015, 09:56 AM
ancient hibee

Quote:

Originally Posted by CropleyWasGod

He might do.

At the moment, the dividend is 6/7 pence in the £, based on a distribution of £10m. So DK will get £1.2-1.4m.

HMRC's claim in the BTC is £72m.

So, if they lose, the pot increases 7-fold. Whether that means the dividend does is another matter.

But is there money in the pot to the extent of another £72m regardless of the result?
06-07-2015, 10:24 AM
CropleyWasGod

Quote:

Originally Posted by ancient hibee

But is there money in the pot to the extent of another £72m regardless of the result?

Nah.... ignore that raving. It's bull dust :greengrin

BDO will have done their sums to work out how much they can distribute now (the £10m), without prejudicing the HMRC claim.

According to this:-

http://www.bdo.co.uk/__data/assets/p...15-WEBSITE.pdf

... they have about £18m in the pot, before the initial dividend.

Once the HMRC case is settled, they can work out the final dividend. That remaining £8m will be allocated accordingly.
06-07-2015, 12:00 PM
Keith_M

Quote:

Originally Posted by CropleyWasGod

Nah.... ignore that raving. It's bull dust :greengrin

I always thought the first requirement of being an Accountant was the ability to use a calculator.

I was obviously wrong.

:wink:
06-07-2015, 12:08 PM
CropleyWasGod

Quote:

Originally Posted by keekaboo

I always thought the first requirement of being an Accountant was the ability to use a calculator.

I was obviously wrong.

:wink:

Abacus, dear boy.

Technology will never catch on, you know.
06-07-2015, 03:03 PM
Viva_Palmeiras

Quote:

Originally Posted by CropleyWasGod

Abacus, dear boy.

Technology will never catch on, you know.

"It's not the numbers that are important" - as our accounts lecturer used to say bizarrely :) usually after discovering an arithmetic error...
06-07-2015, 03:53 PM
ancient hibee

Quote:

Originally Posted by CropleyWasGod

Abacus, dear boy.

Technology will never catch on, you know.

Not as long as we've got five fingers(including a thumb for pedants)on each hand.
06-07-2015, 03:54 PM
CropleyWasGod

Quote:

Originally Posted by ancient hibee

Not as long as we've got five fingers(including a thumb for pedants)on each hand.

That's the Yams ****ed then.
06-07-2015, 05:04 PM
Keith_M

1 Attachment(s)

Quote:

Originally Posted by CropleyWasGod

That's the Yams ****ed then.

Attachment 15122
06-07-2015, 05:38 PM
CropleyWasGod

Quote:

Originally Posted by keekaboo

Attachment 15122

I take it back.

That's Ernst and Young.
06-07-2015, 06:10 PM
Ronniekirk

Quote:

Originally Posted by CropleyWasGod

Abacus, dear boy.

Technology will never catch on, you know.

Genesis L P from the eighties ,and not one of their better ones IMO,
06-07-2015, 06:31 PM
jabis

Quote:

Originally Posted by Ronniekirk

Genesis L P from the eighties ,and not one of their better ones IMO,

Abacab........though I agree🚽

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