As I said, no paperwork, not provable by the HMRC. Using loans as payments was entirely dependant on you not keeping paperwork detailing what was actually going on.
The Rangers Saga and Fallout Thread
- Thread starter Ace Modder
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What are you talking about?
Employer's also pay NIC on top of what comes off the employee's salary.
Yes, I am aware of this. But I am also unaware of any wrong doing's regarding the clubs NI contributions up until the Whyte takeover last May.
Soldato
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Well reducing a players PAYE tax by paying an EBT is reducing their tax liability also, you said it was just the employees who benefited from the tax scam, its not.
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Because they don't "run" the club?
http://www.thescottishsun.co.uk/scot...#ixzz1uK3RoECjOooohhhhh yes you will
Oh no we wont
Rangers will NEVER be liquidated.
CRAIG WHYTE was last night on the verge of striking a deal with a wealthy British football consortium.
SunSport understands the businessmen are now front-runners to land Rangers — after US tow-truck tycoon Bill Miller pulled out.
We can reveal majority shareholder Whyte, 41, WILL deal with the consortium, made up of a number of people with experience from clubs in the Premiership.
Sources say they DON’T want to liquidate the club and plan to exit administration through a CVA.
An insider said: “The consortium is being led by football people with experience at the highest level in the game. They’ve serious money and most importantly it looks as though they have the blessing of Whyte.
“Talks took place all yesterday afternoon and things have been moving quite quickly.
“It is understood an agreement with Whyte is 90% in place.
“The people involved know about Rangers and their history and liquidation is not what they want. They want to exit administration through a CVA.
“The most important thing is that is seems Craig Whyte is keen to work with them.”
The surprise bid does NOT involve Brian Kennedy or the Blue Knights.
Kennedy — in New York on business — was last night stunned by Miller’s withdrawal.
The Sale Sharks chief told SunSport: “I’m speechless. I need to take time to reflect on things.”
Duff and Phelps revealed two other foreign bids have been lodged as they chase a buyer for the club.
Miller’s exit has left them under serious pressure to deliver.
Tennessee-based Miller yesterday insisted a supporters’ backlash was a major factor behind his decision to walk away.
And his advisor Jon Pritchett last night told SunSport: “The negativity wasn’t the only reason but it was a contributing factor.
“I know it’s a minority, but a group of people have used email and other social media to make it clear that they don’t want Bill involved.
“I’m talking about things like: ‘Yank go home.’ With the expletives that were included, I think that surprised Bill.
“I liken it to a situation where your house is burning down, the fire truck arrives and you yell at the fireman to get off your lawn as it’s your property.” Club9 Sports chief Pritchett slammed claims Miller had no intention of following through with his bid.
He said: “I just don’t know how anyone in their right mind could say he wasn’t serious.
“He hired quite a few advisors and spent quite a bit of time.
“He’s just bought a brand new yacht, but put off a trip to the Caribbean so he could work on this.
“I don’t understand anyone who would criticise a man who decided to spend six-eight weeks working day and night to determine whether or not he wanted to sink a lot of money into the club and turn it around. Doing it in Scotland wouldn’t have been any more valuable than doing here in the States.
“Bill is big on not wasting time on ceremony, speeches and appearances. He’s a direct guy. He’s about doing the work.
“His view was that until he was satisfied, there was no reason to go over for the pomp and circumstance of an appearance.”
Miller’s withdrawal left Gers skipper Steven Davis stunned — and fearing there could be even MORE problems at Ibrox.
Davis said: “Maybe he’s seen something the rest of us don’t know. Time will tell.”
“Hopefully we can get some kind of conclusion before we break up for the summer on Sunday.”
SPL chief Neil Doncaster also pleaded for clarity — but said the SPL were powerless.
He said: “Control is in the hands of the bidders and Duff & Phelps. The 11 clubs and the SPL would clearly prefer clarity.”
Read more: http://www.thescottishsun.co.uk/scot...#ixzz1uK5FQStR
Soldato
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Because they don't "run" the club?
http://www.thescottishsun.co.uk/scot...#ixzz1uK3RoECj
Oh no we wont
Rangers will NEVER be liquidated.
Id bet that Rangers will be liquidated, this latest thing is pie in the sky, its unworkable for a CVA. You said the same thing the other day that Rangers wouldnt be liquidated and quoted Millers plans to get a CVA for the oldco, even when pretty much everyone in the media had said that the oldco would be liquidated.
You have Rangers friendly journalists like Jim Traynor saying from day one that liquidation was the only outcome, you can dress up however you want, but creating a newco will end up in liquidation for the oldco, the thing is now, will liquidation come before any newco and deal can be setup? If it is, then its not looking good for Rangers.
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More or less the two important bits.
90% in place means nothing is confirmed, so it can (and probably will) go horribly wrong.
Davis is slowly grasping the magnitude of the situation (long before anyone see at Ranger). Take when Southampton went to administration, we had a Le Tissier bid with some sort of consortium to "save" the club via cva, nothing came of it and he blew a £750k deposit to be 1st preference for a week and couldn't do it. If we didn't get our foreign billionaire we wouldn't exist.
Rangers told their last potential billionaire to go away, which is just stupid.
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Bill Miller wasnt a billionaire, Craig Whyte apparently was (or at least duped the press and Rangers into believing so).
Its also caught Duff and Phelps in a lie, they stated that a deal had been agreed with HMRC and the SPL and that turned out to be a load of nonsense as well.
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So no new bids have been made, only interested parties?
Interesting point in Miller's statement which basically said the info from Duff & Phelps was not accruate to what his advisers uncovered.
Personally it is time for D&P to be removed. They seem to be clouded to their role, which is to provide the best deal for creditors, not necessarily Rangers.
Anyway, just when you think things cant get any worse, they do !!
Interesting point in Miller's statement which basically said the info from Duff & Phelps was not accruate to what his advisers uncovered.
Personally it is time for D&P to be removed. They seem to be clouded to their role, which is to provide the best deal for creditors, not necessarily Rangers.
Anyway, just when you think things cant get any worse, they do !!
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They wont get removed, it would be up to one of the creditors to challenge them that they are not doing a good job.
According to Alex Thompson, the next 48 hours are crucial with this other consortium that wants a CVA and Whytes shares (but still is a newco), we shall see.
According to Alex Thompson, the next 48 hours are crucial with this other consortium that wants a CVA and Whytes shares (but still is a newco), we shall see.
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I can't see anyone really wanting to pump money in at this stage.
From a financial point of view they would be better off waiting for liquidation and picking up the pieces afterwards.
From a financial point of view they would be better off waiting for liquidation and picking up the pieces afterwards.
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D&F are saying they expect a deal can be done by the end of the week, will see if that one is pulled out the bag.
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Are they going to tell the truth to this bidder?
I didn't realise just how grim the outlook is for Rangers until I read the BBC article the other day, administration seems a common thing now but the teams always seem to have a way out the other side, Rangers look doomed.
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We will find out in the next few days really, for some reason the end of season and having things done before that seems criticial (not quite sure I understand why, but I suspect it will be some dodge or another to get penalties done this year).
Souness is now involved in a few of the bids, he's a guy that Ive got a lot of time for and I doubt he would put his name to anything that was going to do anything other than try and put Rangers back on an even keel.
The new groups in general are supposed to favour the CVA, but D&F said last week that there was no time for a CVA to be done.
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Whyte wont sell for a quid, that much is certain. It might be a quid plus a cheque to ticketus if he's given personal guarantees.
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