Generic Sevco / Rangers meltdown thread

[CallumLaidlaw]

I may have missed this on this thread but just read this -

RT - Incredibly, #Rangers may not be in administration after all because of a technicality. Issue to be settled in court on Monday. #RFC

[CropleyWasGod]

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I may have missed this on this thread but just read this -

RT - Incredibly, #Rangers may not be in administration after all because of a technicality. Issue to be settled in court on Monday. #RFC

http://scotslawthoughts.wordpress.com/

[WindyMiller]

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I may have missed this on this thread but just read this -

RT - Incredibly, #Rangers may not be in administration after all because of a technicality. Issue to be settled in court on Monday. #RFC

Just heard that on BBC Scotland.

IIRC there was mention on this thread about D&P applying to be ad-mins 2/3 days ago.

It appears the original application hasn't been registered.

[green glory]

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I may have missed this on this thread but just read this -

RT - Incredibly, #Rangers may not be in administration after all because of a technicality. Issue to be settled in court on Monday. #RFC

Yes I heard about this. Are HMRC not now seeking to impose their own admins, as should have been the case anyway?

[ancienthibby]

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Yes I heard about this. Are HMRC not now seeking to impose their own admins, as should have been the case anyway?

[green glory]

CY a 'journalist'? There should be a public enquiry into that.

[Part/Time Supporter]

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Yes I heard about this. Are HMRC not now seeking to impose their own admins, as should have been the case anyway?

They might, but would need to prove that D&P are not acting in the best interests of the creditors.

More likely it will be a formality to confirm the appointment. It appears someone forgot to tell the FSA, which they needed to do because the Huns had their own credit card a few years back.

[CropleyWasGod]

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Yes I heard about this. Are HMRC not now seeking to impose their own admins, as should have been the case anyway?

It's so that the company (ie CW and the other shareholders) can't have them removed.

The application is being made by the company (Rangers). As the administrators are agents of the company, appointed by the company previously, they have applied on behalf of the Company for this order.

The effect of it being granted would be that they become administrators under an administration order, rather than by a notice of appointment. One effect of this would be that they could no longer be removed by the company. This is perhaps an indication that Duff & Phelps (D&P) saw potential conflict with the Company in the form of Mr Whyte.

[jgl07]

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That statement means that either chic young lied on sportsound last night or was lied to by Ogilvie.

Either way he was incompetent.

He was company secretary at Rangers as they trod the path towards insolvency. He then moved on to Hearts and was Managing Director as they went in a similar direction, only faster. It matter little if he was directly involved as both happened on his watch.

After that he is rewarded with a post in the SFA charged with investigating such events.

Hunbelievable!

[CropleyWasGod]

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He was company secretary at Rangers as they trod the path towards insolvency. He then moved on to Hearts and was Managing Director as they went in a similar direction, only faster. It matter little if he was directly involved as both happened on his watch.

After that he is rewarded with a post in the SFA charged with investigating such events.

Hunbelievable!

No he's not. He has recused himself from the RFC enquiry.

There isn't one into Hearts yet.

[TornadoHibby]

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If the " after tax " wage is not on the contract registered with the SFA then additional payments must have been made.

Not sure how that would be done as a number of "non RFC contract" factors relating to any players financial position could influence the amount of income tax paid under PAYE and they could, as a minimum vary from year to year!

Just a passing thought!

[jgl07]

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They might, but would need to prove that D&P are not acting in the best interests of the creditors.

More likely it will be a formality to confirm the appointment. It appears someone forgot to tell the FSA, which they needed to do because the Huns had their own credit card a few years back.

I understood that Duff and Phelps were seeking to become administrators without the say so of Craig Whyte. This is to cover themselves in the event of (inevitable) conflict with Whyte.

http://scotslawthoughts.wordpress.com/

[CropleyWasGod]

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I understood that Duff and Phelps were seeking to become administrators without the say so of Craig Whyte. This is to cover themselves in the event of (inevitable) conflict with Whyte.

http://scotslawthoughts.wordpress.com/

Exactly that. RFC could still, in theory, ask the Court to remove them. This motion, as I understand it, takes RFC out of the chain.

[Seveno]

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Much as one would expect, I suppose.

This bit....I was aware of the EBT scheme in operation at Rangers during my time at the club and, indeed, was a member. ..... is the first acknowledgement I have seen of any particular individual's involvement. It also confirms the rumour that it wasn't just about players.

So he knew that it was all a scam and the 'discretionary' aspect was just a heap of s**t.

He rivals Murray in my morality index.

[CropleyWasGod]

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So he knew that it was all a scam and the 'discretionary' aspect was just a heap of s**t.

He rivals Murray in my morality index.

Mmmm..., again, he will blame the advisors.

[Seveno]

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He was company secretary at Rangers as they trod the path towards insolvency. He then moved on to Hearts and was Managing Director as they went in a similar direction, only faster. It matter little if he was directly involved as both happened on his watch.

After that he is rewarded with a post in the SFA charged with investigating such events.

Hunbelievable!

How long till the SFA are insolvent and will we learn that they have been running their own EBT ?

[CropleyWasGod]

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How long till the SFA are insolvent and will we learn that they have been running their own EBT ?

As an aside, is his Presidency a full-time paid post?

[Seveno]

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As an aside, is his Presidency a full-time paid post?

No, he just gets to 'borrow' £250,000 a year from the EBT. Tax free, of course.

[Viva_Palmeiras]

@alextomo will get to the bottom of this ;) Actually I'm glad of his impartiality neverthless clearly has his finger right on the pulse after admitting he knew little of Scottish football but he's on the money with this query...

"@fitbafan who is Chick Young?
TweetDeck • 13/03/2012 19:41"

[CropleyWasGod]

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No, he just gets to 'borrow' £250,000 a year from the EBT. Tax free, of course.

[Seveno]

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@alextomo will get to the bottom of this ;) Actually I'm glad of his impartiality neverthless clearly has his finger right on the pulse after admitting he knew little of Scottish football but he's on the money with this query...

"@fitbafan who is Chick Young?
TweetDeck • 13/03/2012 19:41"

It's a clever device that David Murray uses instead of toilet paper.

Walter Smith used to have one as well but he bequeathed it to Ally McCoist.

[CropleyWasGod]

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@alextomo will get to the bottom of this ;) Actually I'm glad of his impartiality neverthless clearly has his finger right on the pulse after admitting he knew little of Scottish football but he's on the money with this query...

"@fitbafan who is Chick Young?
TweetDeck • 13/03/2012 19:41"

[CropleyWasGod]

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It's a clever device that David Murray uses instead of toilet paper.

Walter Smith used to have one as well but he bequeathed it to Ally McCoist.

Jeezo, you're a right grumpy bear the day, eh no?

[Viva_Palmeiras]

There was me thinking it had Celtic/U2 connections.Turns out it's the Gers fighting fund collectors ;)

[Seveno]

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Jeezo, you're a right grumpy bear the day, eh no?

How dare you call me a 'bear' !

Right about the grumpy bit though.

[CropleyWasGod]

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How dare you call me a 'bear' !

Right about the grumpy bit though.

Our own admins wouldn't let me call you a ****

Oh, they did!!

[green glory]

Anyone know if Chick's on Sportsound tonight?

[hibs0666]

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Anyone know if Chick's on Sportsound tonight?

What has Chico been up to now the cheeky wee scamp?

[ancienthibby]

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What has Chico been up to now the cheeky wee scamp?

This clown is not as you describe him!

He is part of the Scottish Football Blazer Brigade that cannot see past RFC as a primary component of everything in Scottish fitba'

The clown needs to be dumped - and soon!

[HibeesLA]

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It could be anything, cobbled together by anyone, of course.

It could be pretty damning, though.

If it is "real", this is "only" damning in terms of the SFA/SPL issues.

HMRC would be interested in both this and the workings of the Trust itself. As I understand things (and this may be urban myth, or maybe I dreamt it lol), the Tribunal have to look at every individual's situation in turn before they can come to a decision. Given the number of players (and, perhaps, executives) involved, one can understand why it is taking so long.

Interesting if this has been produced by a player saying they received this. It has no signature on it, and I can't remember my company ever giving me something that wasn't signed, even facsimile signature.