Generic Sevco / Rangers meltdown thread

[CropleyWasGod]

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Would this subtle change of ownership of the stars be considered a metaphysical concept?

Fast Freddy may own the stars having purchased them however he has not earned them however folk seeing them in his restaurant would assume he earned them when in reality the prior owner of the restaurant had earned them instead.

Additionally a Judge would not be in a position to rule on the conundrum without having heard from a number of philosophers who are experts on the subject of metaphysical concepts.

We prefer to call them "intangibles "

Signed,

Plato, Socrates and Aristotle (now merged with PwC)

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[ancient hibee]

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Would this subtle change of ownership of the stars be considered a metaphysical concept?

Fast Freddy may own the stars having purchased them however he has not earned them with the folk seeing them in his restaurant assuming he had indeed earned them when in reality the prior owner of the restaurant had earned them instead.

Additionally a Judge would not be in a position to rule on the conundrum of oldco/newco without having heard firstly from a number of philosophers who are experts on the subject of metaphysical concepts.

Michelin stars can of course be removed if standards drop.

[northstandhibby]

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We prefer to call them "intangibles "

Signed,

Plato, Socrates and Aristotle (now merged with PwC)

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Very good.

Edit..... Just to make clear - I hope I'm not coming across as a smart erchie as not meaning to in the slightest, It was a cracking answer you gave, and the Judge's remark of a metaphysical concept does give a bit food for thought. It will run for many years to come.


glory glory

[CropleyWasGod]

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Or quite simply ignored - which is pretty much guaranteed the approach our entire 'media' will take.

It's being reported by the BBC and the Record.

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[lapsedhibee]

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If a quality cuisine Michelin Star restaurant goes broke and an adminstrator sells the business to Fast Food Freddy who opens a burger joint in the same premises using the same ovens and equipment does he get to keep the Michelin Stars ?

The huns, the thes, the G(l)as(gow) Giants, stars,

Astrophysics as well as metaphysics.

[Dashing Bob S]

I really wish somebody would simply outline the possible scenarios for the Huns:

1. Nothing happens

2. They have further legal/financial/footballing penalties

if 2, then 3. What will they be and when will they take effect?

[Deansy]

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It's being reported by the BBC and the Record.

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'Rangers were removed from the SPL in 2012 following liquidation and returned to football in the SFL Third Division'


How can you 'return' to something that you had to apply for entry into ?

[jacomo]

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'Rangers were removed from the SPL in 2012 following liquidation and returned to football in the SFL Third Division'


How can you 'return' to something that you had to apply for entry into ?

That's not the issue.

They weren't removed by anybody. They left cos they went bust.

For a time there was just Club 12 holding a place while the mess got sorted.

[JackLadd]

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I really wish somebody would simply outline the possible scenarios for the Huns:

1. Nothing happens

2. They have further legal/financial/footballing penalties

if 2, then 3. What will they be and when will they take effect?

BDO appeal fails and LNS - that claimed the dos/ebt scheme was legal and no sporting advantage - is rendered null and void and has to be set aside. Of course they (SFA) will try and ignore and sweep under the carpet but I doubt they succeed. The ebt titles/trophies will be stripped.

[majorhibs]

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'Rangers were removed from the SPL in 2012 following liquidation and returned to football in the SFL Third Division'


How can you 'return' to something that you had to apply for entry into ?

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That's not the issue.

They weren't removed by anybody. They left cos they went bust.

For a time there was just Club 12 holding a place while the mess got sorted.

Therefore what is there now came from nowt, has nowt history apart from when they were illegaly, by SFA etc, allowed into div 3 since 2012, what they were died to write off close couple hundred mill pound debts, & all else is pandering to neanderthal bigots who cannot accept that the team they followed illegally cheated to win, were caught, punished, couldnt afford the fine, LIQUIDATED subsequently after having shafted so many people out of money, they folded, became no more, & what is there is new machinations designed to make shysters like Whyte/Green/Easdales/King etc dough while the "loyal" cough up plenty for brussel sprout?

[Ozyhibby]

https://rangerstaxcase.wordpress.com...-ending-story/

Great summary from Rangers Tax Case. I see he is back on Twitter this morning.



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[JoppaSands]

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Interestingly, this has never been mentioned in the Scottish Press? No journo has so far taken to Twitter to comment yet?
You would think the takeover panel ruling against the chairman of Sevco and ordering him to make a full takeover bid would be news.


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This sort of thing astonishes me. Hardly anything in the news at all. It's amazing the stories that get kept out of the press.

One other story that has never been reported on is our local rivals HMFC injecting £8m in to their club without paying a jot of VAT or Corp tax on it. Astonishing.

[Moulin Yarns]

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https://rangerstaxcase.wordpress.com...-ending-story/

Great summary from Rangers Tax Case. I see he is back on Twitter this morning.



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Sorry Oz, I'm a bit confused, the date on the link is 30/11/2015 nothing about proceedings yesterday.

[CropleyWasGod]

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This sort of thing astonishes me. Hardly anything in the news at all. It's amazing the stories that get kept out of the press.

One other story that has never been reported on is our local rivals HMFC injecting £8m in to their club without paying a jot of VAT or Corp tax on it. Astonishing.

Not sure that the HMFC thing is a story. Club gets injection of capital, which of itself is not taxable. If HMRC want to dispute that, they may do, but it won't be in the public domain.

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[Ozyhibby]

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Sorry Oz, I'm a bit confused, the date on the link is 30/11/2015 nothing about proceedings yesterday.

Sorry, should have made clear its an old article that just summarises how we got here.


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[Ozyhibby]

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This sort of thing astonishes me. Hardly anything in the news at all. It's amazing the stories that get kept out of the press.

One other story that has never been reported on is our local rivals HMFC injecting £8m in to their club without paying a jot of VAT or Corp tax on it. Astonishing.

The money FoH are putting into Hearts is entirely legitimate.
An investigation into some of Romanovs financial dealing would be entirely legitimate though.


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[GreenOnions]

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Schrodinger's huns?

I'd like to see that experiment!

[greenginger]

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The money FoH are putting into Hearts is entirely legitimate.
An investigation into some of Romanovs financial dealing would be entirely legitimate though.


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Its legitimate money but they way its been dealt with might cause a problem.

The cash started out as a loan from FoH to HOMFC but in last years accounts the loan has been written off and a sum of £ 3.941 million has been transferred to equity.

I wouldn't have a clue if this was common accounting practice but it does seem strange that FoH appoint the senior tax partner at PWC as their chairman and he automatically gets on the football club board. He seems to have had little or no involvement with FoH previously so I can only assume its his tax skills that were sought.

[Keith_M]

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If they paid for the stars, yup 😎

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I hope that's intended as irony, Crops.


Anyway, I see the 'news'papers have finally caught up with what the Internet Bampots were telling them at least five years ago.


#taintedtitles

[CropleyWasGod]

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Its legitimate money but they way its been dealt with might cause a problem.

The cash started out as a loan from FoH to HOMFC but in last years accounts the loan has been written off and a sum of £ 3.941 million has been transferred to equity.

I wouldn't have a clue if this was common accounting practice but it does seem strange that FoH appoint the senior tax partner at PWC as their chairman and he automatically gets on the football club board. He seems to have had little or no involvement with FoH previously so I can only assume its his tax skills that were sought.

Debt being converted to equity is not of itself a taxable event.

I'm still with you on the PwC guy though.... my latest theory is that he has been brought in to oversee the POTY awards. 🙄

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[greenginger]

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Debt being converted to equity is not of itself a taxable event.

I'm still with you on the PwC guy though.... my latest theory is that he has been brought in to oversee the POTY awards. ��

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They called it " equity " but no new shares were issued as that would dilute Mrs Budge's holding.


Just got the POTY thingy ! *****

[greenginger]

Someone on SFM posted that in summing up of the Supreme Court today QC Thornhill on behalf of BDO and Rangers RIP offered a compromise.

They were willing to drop part of the appeal that would leave the former players liable for tax and NI if the court granted the remainder of the appeal which ties in all other EBT holders EBT trusts.

There's team loyalty for you !

[Is It On....]

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BDO appeal fails and LNS - that claimed the dos/ebt scheme was legal and no sporting advantage - is rendered null and void and has to be set aside. Of course they (SFA) will try and ignore and sweep under the carpet but I doubt they succeed. The ebt titles/trophies will be stripped.

The Conservative Party got fined £110k today for gaining an unfair advantage in the 2015 election through the use of £70k undeclared expenses. OldCo had £m's of EBT side contracts and LNS found the unfair advantage not proven. 🙄 If only the SFA had fined them on the same 1.55 ratio!!

[Bostonhibby]

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That's not the issue.

They weren't removed by anybody. They left cos they went bust.

For a time there was just Club 12 holding a place while the mess got sorted.

Indeed. They voluntarily liquidated that business quite deliberately instead of paying their debts and carrying on as the old club.

They don't do walking away though.

[Alan62]

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Someone on SFM posted that in summing up of the Supreme Court today QC Thornhill on behalf of BDO and Rangers RIP offered a compromise.

They were willing to drop part of the appeal that would leave the former players liable for tax and NI if the court granted the remainder of the appeal which ties in all other EBT holders EBT trusts.

There's team loyalty for you !

Have you got a link there, Greenginger?

[cabbageandribs1875]

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The Conservative Party got fined £70k today for gaining an unfair advantage in the 2015 election through the use of £110k undeclared expenses. OldCo had £m's of EBT side contracts and LNS found the unfair advantage not proven. �� If only the SFA had fined them on the same 1.55 ratio!!

it's the other way around mate

[greenginger]

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Have you got a link there, Greenginger?

No, I read it on Kerrydalestreet Sevco thread but there was no link and I can't find my way around the SFM site

[Is It On....]

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Have you got a link there, Greenginger?

Biggest beneficiary I seem to remember was someone called D Murray.

[Is It On....]

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it's the other way around mate

What a numpty...it's been a long day 🤔

[Alan62]

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No, I read it on Kerrydalestreet Sevco thread but there was no link and I can't find my way around the SFM site

Me either. That's one badly organised site.