This evening’s announcement by Dunfermline Athletic that they no longer expect to receive timely receipt of the £80,000 ticket money Rangers FC PLC (in administration) owe them will heighten concerns at Inverness Caledonian Thistle, who have a stock at tickets with Rangers right now, money for which will be received by the administrators in advance of their game later this month.
The administrators have yet to decide whether to retain high-earning players or make more funds available for existing creditors, and future creditors, like Inverness. As ticket sales for the Inverness game are on-going, the administrators will need to be aware of their legal position before retaining a premium squad.
One final push (this week) for the Vanessa Riddle Appeal. We have a Celtic top signed by the first team squad available to auction on eBay. You can bid on the auction and help send Vanessa for the treatment she needs by clicking here. Thanks to Penfold for the donation and to Taggsybhoy for organising (yet again).
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That’s my wife in from Tesco with the shopping, and she paid more VAT tonight than Ragers have in 9 months (⊙_⊙)
Back to Basics – Glass Half Full says:
15 February, 2012 at 21:46
‘As for Salmond’s exact words – its like you or I saying that the priority is peace in the Strait of Hormuz.
It sounds great but neither of us has any influence on it happening.’
The only minor difference being that saying ‘The most important thing is that the huns survive’ doesn’t sound great. Not to me anyway. And there was no need to say it.
Salmond is an astute politician, but the mask slips from time to time and he inadverantly lets his true feeling out some times.
Remember the ‘we didn’t mind the economic side so much’ comment about Thatcher?
His description of the people of Norn Iron as ‘bone of our bone, blood of our blood’?
That old anti Irish Catholic Scottish nationalist stuff is still there just below the surface.
HT – don’t you start joining in
BSR – I actually led the huddle that day in Inverness, coincidentally I travelled to with HT and the Spirit of Freedom bhoys and listened to the Victor Wanyama song for a consecutive 3 and a half hrs, I digress – as 1st to start, it is logical that I would be first to finish, and let’s face it, someone has got to be first to finish.
As for the other nice stuff – allegedly should be in there :-) I’ll have the cash next week.
hh
bjmac
Nakagod at 21:46
In this day and age with players having agents and accountants I’d be surprised if they didn’t know the ramifications. If not, they could claim ignorance and seek recompense.
Mort
Re pre pack admin/CVA
Read an article in The Sunday Times a few weeks ago that HMRC have or are looking at ensuring any business rising fron a CVA must pay all their next years projected VAT/tax upfront or they will not be allowed to trade. Anyone else read or remember same article?
Can anyone repost James Forrest’s post on Breaking bad– I think it was from last night.
Thanks
Brogan
southbhoy says:
15 February, 2012 at 21:50
No propbs Mate, a lot of great writers here that’s what makes CQN what it is, just finding the time to keep up!!!
I was out for a few hours and now I’m waaaaay behind..
Hx2
THE EXILED TIM says:
15 February, 2012 at 21:45
Spot on. BRTH did his usual good work on the RTC blog on this aspect and I see another guy is setting up a petition for an enquiry.
Supporters need to run what happens next, not the guys who steered our game on to the rocks.
had first perma rage outburst in work today.
Normally reasonable orc stood up and shouted why don’t you F Off to a good guy who was doing a bit of gloating.
poor orc then called to bosses office………
‘sorry Mr. Seville67, I don’t know what happened’
Well let me tell you, your club spent my money , understand ?. One more outburst a d you’re bagged.
does it get any better ?
Seville67
Weeminger – Nice concise analysis of how a long term repayment plan just couldn’t be sustainable for such a large HMRC debt.
I think the difference between RFC and other clubs that have been administered or liquidated and ‘rebooted’ is the sheer scale of the debt to be repaid or negotiated with creditors.
A question occurs to me though – Say they are liquidated and the queue forms for proceeds from the sale of assets – Do we know what the sale value of these would be? Players, Ibrox and Murray Park in no particular order would be the main assets I assume, but would these amount to the £75mil that HMRC are after? They may have to adjust their demand to get as much as they can for the taxpayer, so conceivably reduce the payment to £1 over the asset recovery value if a white knight reveals himself. So, and bear with me, an instalment plan was worked out the number to be repaid could be less than the £75m and perhaps sustainable… perhaps… Lets hope not.
tully57 says:
15 February, 2012 at 21:47
A McDonald ,typical hun player ,no skill all brawn
and a dirty bass to boot(pun intended) remember
he was walking by the city chambers in the early eighties ,I was in a van and clocked him and shouted “mcd ya wee rat cheatin dirty bass ye”
I know it’s not the Celtic way ,but by God it felt good.
canamalar at 21:51
Just keeps balance sheet looking a bit better, but eventually all chickens come home to roost.
Mort
Paul67.
Is the lack of players leaving the bigot dome anything to do with having to pay Murray for youth players from Murray park?
Rangers employ 177 people. Donaghy Con. have 185 employees and today went into liquidation & not through with holding payments to the HMRC
Via@DubCentral
TET
To be fair Regan needs a bit of time to sort out the SFA and think he will so long as PL is in the picture.
I think PL will serve us well in the coming weeks.
You cabt fool all of the people all of the time…unless you live on Planet FF
Extracts below
__________________________
There is no way whyte can come back, can he
After the last few days, he would get lynched
I justr cant see him coming back , can you?
_______________________
I dont see why not tbh.
_______________________
Depends who you believe, no ?
_______________________
Why?…………… I dont think the vast majority are falling for the media spin tbh, The jury is still out and admin is the right move for the club imo.
_____________________________
Nothing illegal in what he has done as far as i can see
_____________________________
Correct. This is done on a regular basis by clubs/companies etc.
___________________________________
If we are a debt free club next season then I will take all the shite off everyone else, I don’t care a long as we have a club.
If this happens then Whyte will have saved us.
________________________________
The only way he can come back from this is if as many suspect he has been stockpiling debt to basically push through a CVA (that is good for the Gers) and that HMRC have to accept – then we come out of admin debt free – all ifs and buts at the moment though
___________________________
Maybe he’s safeguarded that £9 million for the future use of Rangers rather than give it to the tax man.
____________________________________
If administrator negotiates a low repayment to HMRC, pence in the pound. Say 25% of what we owe. If this is done before April
If we can start next season with our Stadium, Training ground, current squad, debts sorted and some cash in the bank- then im sure he will be hailed as a hero by some
______________________________________
Know Tommy the Taxi Driver of radio phone in fame? He makes it to the New Zealand radio about 8mins 50 secs into this….
http://content.radionetwork.co.nz/we…port/41530.mp3
Stolen shamelessly from CM!
Jelly and Gellato
Murray couldn’t sell 9 months ago because eveyone knew Ranjurs came with a rather large contingent liability i.e. a potential/likely £49m debt to HMRC.
When they liquidate all debts will be gone and Whyte will have control of the assets. I’m guessing he’ll not want to hang around for too long so will be more than happy to job them on at a reduced price given he paid only a quid for them. Creditors get screwed at the expense of Whyte and the consortium of orcs.
I know there has been some talk about the Huns agreeing to some kind of payment plan over time for the outstanding tax bills.
Notwithstanding the fact that they simply can’t pay anything at all, there is also the small matter of UEFA’s rules about barring clubs with unpaid tax bills from competing in Europe.
They’d have ten years without Europe if the repayment was over a ten year period.
They can look where they want for succour but they won’t find it. The days of sucker finding has gone.
They’re completely fecked. Completely and utterly fecked.
Auld Neil Lennon heid says:
15 February, 2012 at 21:50
Barbados?………I feel for you,you on EBT’s?
Mort says:
15 February, 2012 at 21:53
Unless there was the willpower to actually investigate? I hear you though, we’ll never know. Shame, I was enjoying my jelly & ice-cream there.
HH
notthebus says:
15 February, 2012 at 21:56
There are no words…anywhere in any language!!
midfield maestro at 21:53
HMRC introduced new rules not too long ago. More details here
Mort
‘best league in the world’ takes one up the Keevins: Milan 4 – Arsenal 0
amadeus,
liquidation is whn the champaign will be opene, their death and the death of their history is all I want. Anything new cannot be the same :oD
hail hail
Rubicon
Delighted that others will be getting involved other than the sports jurnos, who with all due respect don’t have a clue, if fact if brains were chocolate, collectivly they couldn’t fill a smartie.
The whole issue needs to be expanded, a major crime has been commited, many millions have been defrauded from the government, many millions have been stolen for the other clubs in scotland.
This has been overseen by the SFA, who imo are the major offenders, ragers fc plc [in administration] did what they did because they were allowed to.
This needs to be exposed.
I take it the wine was to your liking :>)
Davos, I hope this is true. It would be a disgrace if they were simply able to liquidate, change name slightly (with ‘Rangers’ in it) and be debt free….and even worse in the spl. I know they’ll have wiped their squad but some snake could buy the swamp and auchenhowie and another some players, laugh at the tax payers supported by LL and they’re back, maybe weaker for a few years, but having cheated the system, passed off as being good for our culture!
…I want them to pay, not evade, all of that tax! If they can’t, and they Phoenix, they should be chased – by Hector and his pal McFall!
Brogan rogan
I got first two seasons breaking bad for Xmas they were superb. Just a shame America waits on series five, I can’t see series three on tv or on DVD. How come no channel took it on?
midfield maestro says:
15 February, 2012 at 21:53
http://www.accountingweb.co.uk/article/powers-tackle-paye-dodgers-come-force/524212
Auld Neil Lennon heid says:
15 February, 2012 at 21:50
Quality post as ever.
“But whatever – have no doubt that the universe is unfolding as it should. Daft ideas are being exposed as such as reality bites. It always will. ”
Revelation 22:13.
It really does make it very easy to Keep the Faith, Always.
pabloh_AKA_NEIL LENNON says:
15 February, 2012 at 22:00
*cough*
you didnt get this from me
http://eztv.it/shows/36/breaking-bad/
has anyone got the full Alex Salmond statement?
canamalar
that`s all i want as well
an end to that risible 5 star badge ….nothing more than a relic of past injustices, financial doping , bigotry and racism
they will be forever in our shade ….
Paul67
My impression was they thought Grant Russell was referring to some kind of pre-pack, but you’re saying it’s irrelevant whether it’s that or a newco – SPL board decide. OK.
In that case, there have been rumours Peter Lawwell has Dundee Utd on his side saying no to immediate re-entry to SPL as well as 5 other clubs. If Inverness and Motherwell aren’t among their number, it leaves them, Neil Doncaster, Ralph Topping all voting Rangers back in (even if one of those 2 votes against, Topping has the casting vote).
Is this why the reason for the rumoured letter to the SFA/SPL, drafted by PL and the 6 other clubs, demanding no special treatment for newco fc?
Watch Newsnight Scotland.
Mcfall is calling for an investigation into the hun.
They are getting pelters from all sides.
Could end in some jail time for certain people.
Contrary to reports Paul Gascoigne hasn’t arrived at Ibrox with a Fishing Rod, Can of Lager and a Chicken.
* He did bring his boots though *
Pabloh, seasons 3 and 4 are truly astonishing. You are in for a treat when you get them. Dunno why they haven’t been in tv.
SffS
Pual67. Thanks for answering my question earlier…. What a stupid question it was….. Doh.