Parma liquidation precedent would work against Rangers

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We have spoken before that preliminary positions are being established ahead of the much-anticipated outcome of HM Revenue and Customs tribunal against Rangers with the possibility that, in the event the decision goes in favour of HMRC, the company could go into liquidation.  This weekend brought a fresh attempt to pitch a positive scenario in favour of Rangers.

One newspaper sought solace in the case Parma, stating that the Italian club was allowed to re-emerge in Serie A after going out of business in 2004.

Unfortunately this is a complete misrepresentation of the facts, as far as Parma is concerned, precedent points to an entirely different outcome.  Parma went into administration on 28 April 2004 after Parmalat, the dairy company which owned a majority of their shares, also went into administration.  Parma remained in administration for three years before emerging after a successful restructuring of their debts.  The club was then bought by a new company – but crucially – continuity of football operations was possible because there was no liquidation and debts were restructured in a way consistent with prevailing administration laws, that allowed a company to continue trading.

This, however, is not the end of the precedent Parma can offer Neil Doncaster and his SPL board.  In 1968 AC Parma went into liquidation and disappeared from existence.  They are an ex-football club, to use a phrase I can see creeping into the local lexicon soon.

Shortly after the failure and permanent disappearance of AC Parma, another club, AC Parmense, who were newly promoted into Sere D, changed their livery to match their better known former-neighbours and changed name to AC Parma.  It was this club, AC Parma-formerly-known-as-AC Parmenese, who were promoted through the divisions and went on to win three European trophies.

Precedent from Italy is clear: if a large SPL club is liquidated an opportunity exists for Clyde FC to change their name, ditch the white shirts, rent a large, vacant, stadium and try to work their way through the leagues. Just as Airdrie United-formerly-known-as-Clydebank, are attempting to do.

There are no free tickets to the elite level of Scottish football.

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1,018 Comments

  1. It. Has. Got. Bells. On.

     

     

     

     

     

     

     

     

    James Forrest is Lennon says:

     

     

    23 January, 2012 at 20:25

     

    The post you refer to was over on RTC. I have copied and pasted it with RTC’s reply/ Later that night Hugh Keevin actually made a slip and called Guidi “Mark McGee”

     

     

    Mark McGhee says:

     

     

    11/01/2012 at 2:59 pm

     

     

     

    Hello, I am a 4th year accountancy student at Glasgow University. I plan on writing my dissertation on the topic of “Subject over form” in the accounting process. After reading, Whats’ the Rangers tax case all about, I was intrigued by the comment of, “These executives appear to have been overly diligent in their record keeping!”

     

    Subject over form is the study of FRS 5, all financial statements should report the Substance of the transaction which it has entered ie Financial Statement should show the economic reality of all transactions therefore being more transparent.

     

    My question to the author of said article is, do you think that if RFC followed a substance over form approach, which is key in UK accounting, would they have not been put into this current situation?

     

     

     

     

     

     

    rangerstaxcase says:

     

     

    11/01/2012 at 3:35 pm

     

     

     

    Mark McGhee

     

     

     

    Forget the “accounting student” ruse. You are without question another in a long line of people knowledgeable in the specifics of the case I.e. working on it or working for Rangers in some capacity.

     

     

    Why don’t you explain your question more fully for the benefit of everyone else?

     

     

    Everyone, we have a new boy in class. Say hello to Mark. Mark is beginning a line of questioning based upon specific knowledge of the case. Presumably, he is either wanting to try to bolster confidence of Rangers fans or he might even be wanting to polish his arguments using our lawyers and accountants to shoot holes in his case.

     

     

    Why not come back on 18 Jan and I will be pleased to point out the problem with this argument and its lack of relevance.

     

     

    Nice try!

  2. mhaddog Is Mise Niall Lennon on

    If the Premier Inn is good enough for me, it should be good enough for Poundland FC

  3. JimmyQuinnsBits on

    The really interesting bit is goin t be watching for who starts to eat who when the whole rotten multi-story of lies come tumbling down. The problem with lies is that you can’t remember all of them, and each one is a brick in a wall. Unpick a few, and the structure crumbles.

     

     

    Some major players in this will try to save their reputation by besmirching others. The signs are there, the dam is leaking. Who’ll jump first?

     

     

    It’s all so sad, so very very very sad… Very sad… Tragic

     

     

    Hehehehe

  4. shug used the phrase “first-tier tribunal” as if suddenly he has become the oracle on all things tax-related

     

     

    said it like hey, look at me

     

     

    wakey wakey shug – we’ve been usin that for nearly 2yrs

     

     

    !!

  5. Mark \o/ McGhee's \o/ Eyeliner \o/ on

    Night all

     

     

    I’m away back to lurking lol!

     

     

    Hail hail

     

     

    MME

     

     

    ps that win on Sat is the type of win that wins you leagues :-)

  6. Mark \o/ McGhee’s \o/ Eyeliner \o/ says:

     

     

    23 January, 2012 at 23:03

     

     

    tictalker

     

     

    I’d like to think if anyone read back any of my posts they

     

     

    would come to the conclusion that I’m far too intelligent to be a Scottish sports hack :-D

     

     

    ====================================

     

    Not to mention tall, dark and hairy. :)

  7. ElDiegoBhoy.

     

     

    I think I’m going into Hospital for a scan soon,I saw the doctor last week and they’re sending me to get a scan.So everything I do is provisional

     

     

    If your going to Aberdour,I’ll see you there.Didn’t get much chance for a chat last year.

  8. Mark \o/ McGhee's \o/ Eyeliner \o/ on

    Auldheid

     

     

    Not as hairy these days

     

     

    the long flowing locks are gone

     

     

    got myself a proper grown up haircut now lol!

     

     

    Hope things are good with you at your end.

     

     

    Hail hail bud

     

     

    MME

  9. Well done Houl your Wheesht . Hope someone tackles Mark Guidi about it on Radio Clyde. They are slowly but surely being found out. Hail Hail Hebcelt

  10. Mark \o/ McGhee’s \o/ Eyeliner \o/ says:

     

     

    far to much win and winning in that last post

     

     

    if you are not Mark Guidi are you charlie sheen?? :O)

     

     

    tictalker talking tic

  11. ßjmac ♥ Kano 1000 °¿° says:

     

    23 January, 2012 at 09:54

     

     

    Just reading back on your post this morning…not nice having to listen to that nonsense in the workplace.

     

     

    I agree with advice from others -keep the religious references to one side for now and focus on the child abuse element. I.D. who else may have been uncomfortable or offended to understand their views. If one or more agree with you, explain you are going to address this as below:

     

     

    Speak to the guy ‘off-line’ explain that you and some others do not appreciate his idea of humour and be clear you expect him never to repeat it.

     

     

    If he apologises and promises never to do it again (didn’t realise etc., etc) then that is the end of the matter…but keep notes of what was said, when and who was there –

     

     

    any repeat, and you go straight to MD.

     

     

    If you are the only person with an issue, then expect more of the same and the next joke to come from a.n.other …so you go to the MD now, as there is a serious culture problem, he needs to know you are not accepting it and what is he doing etc. He must take formal action!

     

     

    Don’t let it go, or will continue and create problems for you: you may react and do something you regret or bottle it up… which could be worse.

     

     

    Give me a bell !

     

     

    HH

     

     

    M

  12. Ceaser67

     

    am assumin you are reffering to Radio Clyde

     

     

    ach

     

    just that they were each and all giving up on their club

     

     

    not only giving up on the league

     

     

    but giving up maybe on next season’s league too

     

     

    talk of buyin very young players, payin them low salary

     

    bringing them thro and so on

     

     

    how they had a fella in from Estonia on trial last week and couldn’t afford to offer him a deal even tho he is a free transfer – hence Alastair didn’t even bother to phone the laddy back again “very un-rangers” was the phrase used if i am not mistaken

     

     

    :)

  13. .

     

     

    OldTim67..

     

     

    Need to Have a Meet when I’m back for the Summer..Was well busy Last Year had the Ghirls with Me so Done a Few Trips..

     

     

    Missed Aberdour was in Greece..Paul67 changed the Dates on Me..:O(..

     

     

    Don’t know if you seen My post the Other day..My Sister is a Manager with W Grants so Get Your Order in..

     

     

    001Bhoy

  14. T C

     

     

     

    Im liken this Guidi one. Cant wait to hear his side of it. Always sounds a right pompus gittttt!!!! Him and keevins had a right spatt abt a year ago cos guidi wouldnt reveal where he got some inside info. That was funny.

  15. The deCameron view cam backdrop of rollicking tory teenage tax absorbers

     

    as bank deposit fodder for pension fraud robber…Barons and weekend sleepover

     

    champions the rebekka de blank old money Rupert enforced war sponsored and

     

    first dibs any World Capital intrusion the Tyrant Lynching of anti-NoW desposts.

     

    Monsieur Murdock….comme un Vache.

     

    HH

  16. Summa of Sammi.

     

     

    Is that Wm Grants whisky.I would do a shop there but where’s she at,I would need someone to put an order in for me,nudge nudge wink wink.

  17. saltires en sevilla says:

     

    23 January, 2012 at 23:55

     

     

     

    your passages from Jimmy McGrory book were good these last few days.

     

     

    keep it lit.