Generic Sevco / Rangers meltdown thread

[Danderhall Hibs]

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This quote from the bears den is hilarious. I have blanked out the last word but i am sure you can guess.

"As a taxpayer, I'm not happy with the way HMRC are willing to **** about with my money.

As a Rangers fan, I despise the c***'s"

Catholics?

[Seveno]

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No he won't.

He paid off the bank with £18m, and at that stage was a secured c reditor.

IF (and that's not clear yet) he used the Ticketus money, then he is no longer a creditor. Indeed, he owes RFC £6m.

If that happened, it would be an even better result than the day that Ivan put 3 passed them !

[MCameron]

Heard some chat on the radio this morning that suggested HMRC may accept a reduced settlement to reduce their risk as unsecured creditors. If this was to happen I (and many other law abiding tax payers - and probably some lesser greens too) would be furious as effectively we'd be getting shafted as a consequence of Rangers deciet.

Does anyone know whether there would be any means for a large enough protest group to force the HMRC to press for full repayment (I'm sure I heard that there is a means of gathering 100,000 signatures and getting a topic discussed in parliament). If that's true is this the opportunity for Football fans fed up of teams living beyond their means to buy success to force them into line?

[stokesmessiah]

Court is just resuming now.

[cabbageandribs1875]

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HMRC's legal argument is they Rangers can't appoint an administrator for five days, ie after the period specified in yesterday's legal filing. The Huns will need a sympathetic judge...

and if he's not sympathetic he will then become a 'taig/tarrier/paedo/kiddie-fiddling kafflik by the hunnish filth

[grunt]

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it appears sellick have just won the league today

I think it's a sad comment on the SPL that Rangers can potentially suffer a 10 point penalty and remain in the same league position.

[jgl07]

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Heard some chat on the radio this morning that suggested HMRC may accept a reduced settlement to reduce their risk as unsecured creditors. If this was to happen I (and many other law abiding tax payers - and probably some lesser greens too) would be furious as effectively we'd be getting shafted as a consequence of Rangers deciet.

Does anyone know whether there would be any means for a large enough protest group to force the HMRC to press for full repayment (I'm sure I heard that there is a means of gathering 100,000 signatures and getting a topic discussed in parliament). If that's true is this the opportunity for Football fans fed up of teams living beyond their means to buy success to force them into line?

Not a hope in hell that HMRC will accept a reduced sum. They will go for liquidation even if they get zero money as a result.

They want a major scalp. And Rangers will be as big as they are likely to get. The liquidation of Rangers would send out a message to clubs elsewhere not to mess with HMRC.

[Spike Mandela]

And in other news.......

http://www.dailyrecord.co.uk/2012/02...6908-23748610/

What a day

[cabbageandribs1875]

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I think they won it the day they overtook a 15pt difference.

it's just official now though :)

[CallumLaidlaw]

Lawyer for #Rangers told court paperwork on its way to appoint administrators. HMRC questioned the validity of this move.

Case taken 20 min break for lawyers to get more instruction. #Rangers

HMRC said they were on way to hand in their petition yesterday when they found out #Rangers had handed in theirs.

HMRC then adapted their petition before handing in. #Rangers

Arguments on each side will start when case resumes at 1.30pm #Rangers

Roddy Dunlop, #Rangers lawyer, say they can appoint administrators because floating charge holder has approved it.

HMRC argued neither club nor directors were allowed to appoint administrators for five days. #Rangers

Rangers tell Court they will go into administration today - if they can appoint own administator. HMRC want their own.

[cabbageandribs1875]

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I think it's a sad comment on the SPL that Rangers can potentially suffer a 10 point penalty and remain in the same league position.

something just not right

[Leithenhibby]

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which is very likely.

Really, and why would that be the case?? ...

[cabbageandribs1875]

taken from swallow swallow


Roddy Dunlop QC, representing the Ibrox club, claimed that Rangers could appoint administrators as the floating charge holder, owner Craig Whyte, had approved it. HMRC has disputed this, claiming Rangers could not call in administrators for five working days from lodging their notice of intent to appoint insolvency experts.


Under the Insolvency Act 1986, companies have at least five and a maximum of ten working days in which to try and agree terms with creditors before appointing administrators.


Whether Rangers are allowed to appoint their own administrator, or one will be brought in after HMRC applied to the court remains to be seen and the court case will resume for legal argument at the Court of Session on Tuesday.


As a result of the move, the club have automatically been docked ten points in the SPL, leaving them 14 points behind Celtic in second place.

[stokesmessiah]

#Rangers given until 3.30pm to appoint administrators. If they do HMRC's application will no longer stand.

[Spike Mandela]

And so it begins, the cheats start to wriggle out of their debt. HMRC shafted again.

[H18sry]

Rangers have been given until 3.30pm to appoint their own administrator or court will make appointment http://bit.ly/xVoFHP

[IWasThere2016]

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They do believe this would shield them from the HMRC demand.

It's a real fault in the whole system where they can come out the other end and spend money again that is due to the tax payer.

The whole of the UK went a bit mental when a bank Chief Exec got offered less than a million for doing what he was asked to do. Will there be a similar amount of time spent on something far more damaging to the tax payer?

Did his bank not fail to meet lending targets?

[cabbageandribs1875]

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#Rangersgiven until 3.30pm to appoint administrators. If they do HMRC's application will no longer stand.

i have a funny feeling they are sitting in a car outside the court at this very moment





a bit like the jumbo jeffries case 'i just happened to be in the club shop when i got the call'

[BroxburnHibee]

Funny feeling that "we" the taxpayers are about to be shafted big time by this disgrace of a so-called national institution.

[Spike Mandela]

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i have a funny feeling they are sitting in a car outside the court at this very moment





a bit like the jumbo jeffries case 'i just happened to be in the club shop when i got the call'

So basically, correct me if I'm wrong, but the court has just given Rangers two hours to make a phone call. Rough justice my arse

[Hibby Bairn]

Good Twitter source for what is going on from inside the court @carasulieman

[MCameron]

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Funny feeling that "we" the taxpayers are about to be shafted big time by this disgrace of a so-called national institution.

If that turns out to be the case "we" the Scottish football supporters need to act to force a change in the rules of our game to ensure teams are not able to cheat their way to success without having the sound financials in place to sustain this.

[SaudiHibby]

Think we may find that there is a 'grand master' plan at play here and that they will come out of this with limited damage. Shocking but he knows the system and is playing it to the letter. I am not getting too excited.

[Spike Mandela]

Wonder if they will use the Vlad defence if appointment is a few hours late

[BroxburnHibee]

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If that turns out to be the case "we" the Scottish football supporters need to act to force a change in the rules of our game to ensure teams are not able to cheat their way to success without having the sound financials in place to sustain this.

Sounds great in theory but the ugly sisters run the show and IMO the SFA/SPL/SFL will bend over backwards to keep their cash cow happy.

Outrageous if they get away with this and yet another nail in the coffin of Scottish football.

[patlowe]

It will be sickening when it happens, but you can't help but feel Rangers are going to come out of this relatively unscathed. Their reputation will be in tatters and they will be skint, but survival in the SPL, a clean slate debt-wise and a points deduction that will have no impact on them whatsoever would be a great result for them.

[nonshinyfinish]

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If that turns out to be the case "we" the Scottish football supporters need to act to force a change in the rules of our game to ensure teams are not able to cheat their way to success without having the sound financials in place to sustain this.

Time to have a close look at the Bundesliga model - every club's books are open to the DFB, and if you can't demonstrate a realistic aim to break even at least, then you don't get a licence.

The current system of buy success/administration/reappear debt-free shafts both the guilty clubs' creditors and competing clubs who live within their means.

[NYHibby]

Not sure if anyone else has posted this, but the judge in the case, Lord Menzies, was once the Tory candidate in Leith.

[lucky]

This whole saga is embarrassing for Scottish football. Whyte is making a mockery of the Huns HMRC and SPL. They get docked 10 points but will finish second in the table. 10 points is not a big enough punishment. Bump their bills and carry on. It's also s farce that the Huns have been reduced to this.

[Sodje_18]

http://sport.stv.tv/football/scottis...medium=twitter

Hearts could lose 500K from the Wallace deal