The Daily Record today report: “Record Sport understands Rangers would fight tooth and nail against any move to impose more than the statutory 10-point penalty” in the event “the Ibrox side have to start again under a new name”, presumably if the existing company ceases to exist.
If the Record are, in fact, reporting Rangers’ position accurately, this is the first salvo in their campaign to gain control of the consequences of a corporate failure.
The Record go on to say: “Clubs who can’t exit administration by a CVA must hand over their assets to a new entity and after shares [in the SPL]are transferred to a new company agreement has to be reached with the SPL over a return to the top flight”.
The glaring observations from this aspiration is, of course, that agreement does not have to be reached with the SPL over a return to the top flight, and that clubs who cannot exit administration by a CVA (Creditors Voluntary Agreement) must dispose of their assets to the benefit of the unsecured creditors.
The debate is framed by the newspaper to suggest a range of outcomes of between 10-25 points is possible for Rangers Newco FC to pick-up the SPL shares and league position of the existing Rangers FC, with a 25 point deduction being wholly unpalatable to the new company.
There must be absolutely no presumption that a newly formed company, who happen to own Ibrox, are entitled to parachute into the SPL ahead of the current Scottish Football League members, or ahead of an existing SPL team in a relegation spot. In the event of a club failure the league can and, if necessary, must complete the season with 11 teams only.
Scottish football cannot establish a system whereby an oligopoly can vote on a system which stiffs creditors and prejudices competitors outside of the oligopoly. Football across the world is trying to clean up its reputation, we cannot allow Scotland to become a laughing stock. Let your club know your feelings on how they should vote when the time comes. It’s time for fans of Celtic, Aberdeen, Dundee United, St Mirren, Hibernian, Motherwell, Dunfermline and others to make their voices heard.
Read issue 3 of CQN Magazine free online here or buy a print version at Magcloud.
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Oh and did you buy wellies in Bangkok ?
anyroadup,
time to get the big iron bird home
hail hail
Canamalar,
I have been lucky and avoided the floods.
I made a donation to the flood relief and spent two days sandbagging the in laws and neighbouring houses. They were very grateful indeed.
The VAT story is called precedence. Anybody with a search engine can check out how HMRC react to being stiffened.
I can’t see any politician in Scotland scuppering the legislation that George Osboure introduced in the budget of June 2010.
Dextra actually won a similar case in 2002 only for it to be overturned by the house of Lords and that was long before anyone spoke of austerity measures.
How does that saying go… You can kid on some of the peOple some of the time but you cant kid on all of the peOple all the time.
Thank goodness for Capital O’s
HH
Morning mi amigos in Celtic!
No Hun talk from moi today as the Glasgow Celtic are playing! HH to that.
Now, I had 3 drinks last night so at my age, I need a list, so in no particular order ( x factor talk).
• shower
• shave
• shhhhhhh!
• breakfast
• pack bag
• mind wee Derry book for Steph
• remember Seville guitar!
• Remember to pop into Lancaster services for wee Monica’s Thingymajig.
• meet the GB at GEORGE SQ (that was for Paul67) lol
• meet yir mhan Estadio in Sharkeys!
• Watch Celts gather 3 very important points.
• Meet GL2 after the game, get wee Shaedans hoopy who will very shortly be travelling the world of Celtic and will have his ain Facebook page.
• Meet Stephen Black, MWD, 4T’s etal for a swallie!
That’s as much as I can mind, have I missed anything?
Vinny
HH
Ha! Ya beauty….. Packed everything into the car…. Turned the ignition and lo and behold the radio – the bay ( morecambe) is playing just can’t get enough…. Big smile :>)
Vinny
Awe naw
the funny thing about Dextra is that they won the part that allowed payments to a trust but lost the corporate tax deduction.
This does not affect Huns as they made huge losses and would not be paying corporate tax anyway. The EBT would have worked for them if they behaved in a profeesional manner instead of cowboys and treating HMRC as they treat Scottish society.
Vmhan who Supports Neil Lennon says:
29 October, 2011 at 07:32
Morning Vinny. aye you have to give me a wave at halftime,I’m up in 409.look up to your right
and wave like a dafty,Ill soon pick you out.
Hail hail safe journey
Morning CQN from a currently very, very wet Singapore!
C’MON THE HOOPS today!
A nice big win will ensure the Tiger’s go down even better than ever :-)
HAIL! HAIL!
Token
PS – Have a good trip back up Vinny and enjoy those beers.
A howling and torrential morning here in North Ayrshire.
Big, big game today.
Come on the Bhoys!
V
Safe journey and enjoy a Hoops win today buddy.
HH
Giggs
The Token Tim says:
29 October, 2011 at 08:14
Good morning TTT, enjoy your day in the company of the SingTims…
Keep the Faith!
Hail Hail!
Good morning friends from a fairly wet and gery looking EK.
We will close the gap today, goal difference at least.
Jobo
Any napsters up ,TTT and myself have posted on last thread,Don;t know
if Fleagle about this week after his bad injury,he can sort it out later:O)
Hail hail good luck
A bit miserable in Bonnybridge.
Jobo
I don’t share your optimism unfortunately – I reckon the Hun will get it easy today. Wee Craigy Broon far too “spewy” after we pumped his cloggers last week.
HH
Giggs
CQN Coupon for this week –
EN – Hamilton Accies
AWATR – Birmingham
PF – Swindon
LennyBhoy – Preston
BT – Sheff Wed
Jobo – Norwich
GL2 – Perterbro
TTT – Huddersfield
Bet responsibly – a 10p stake should yield around £17.00!
Jobo
Oh and just noticed that in fact there are no gery’s in EK although it is very grey.
Jobo
If Celtic had a blanket ban on the BBC such as Rankers, would we see a BBC employee from BBC Scotland sports department defend Celtic in the way Roddy (hun) Forsyth has done below
the situation is that the broadcaster’s contract is with the SPL, which requires Rangers to make facilities available to BBC employees, but not to grant interviews or invitations to press conferences.
Tooheys
I commented yesterday to Cadizzy that if you want to win a landmark ruling you pick the case you are most likely to win. It has nothing to do with the amount due except to emphasise how the former directors of the huns behaved. This case has ran for four years at great cost to the tax payer nevermind what is due due to EBT abuse. This is why Grant Thornton changed tact in May this year warning prospective EBT abusers of which there are many about the advantages of accepting an amnesty which runs out at the end of this year. That will give a few weeks time for any still prepared to go the court route. HMRC won their case Rangers are appealing it. Grant Thornton make no money from those that chose not too take an Amnesty and follow their expensive counsel.
HH
Morning all from a grey but dry valley, Celtic at Paradise at 3pm, what’s not to like!!
Looking to build on the cup victory I think we have to much for Hibs today, should be a decent game.
Hopefully the ref will remember some of the rules and the assaults on our players will be kept to a minimum.
SP
morning SP
have a great birthday mate…
Hail Hail
http://www.mclaughlincrolla.com/ebt.html
HH
have they pre packed yet?
Morning all!
Oh well, off out to a dark, chilly greenhouse to read The Herald.
A wee tradition that gets sillier and sillier as the Winter sets in.
Wonder what they’ll have to say about Rangers and their imminent demise.
Hee haw, probably.
blantyretim says:
29 October, 2011 at 08:43
Thanks BT, got all the Starry family here, we’re going out for ice cream and hopefully back in time for the game,baby Starry already able to say Celtic and put her arms in the air….magic!!
Hail Hail
SP
Have a great day!
Hey SP
Looks like we’re Bhirthday Bhrothers!
All I want for mine is 3 points.
(and a few more of those limited edition Sapporo’s in the fridge ;o)
Hail Hail
tbdJ
Morning All,
Grey and wet this side of the Dechmont Massif.
Coffee and a smoke, then off to the bhoys rugby for an hour or so of terribly nice thuggery in the mud.
Back up the road for a couple of rolls and sliced sausage.
Paradise at 3.00.
Should see a cold beer by 5.30.
Not a bad old day in store.
So that’s Switzerland 1 Japan 1 in the Birthday League
Many happy returns all round the world
tbdJapan
You have a great day too!
happy birthday bhoydaveinJapan
Happy non birthday to anyone feeling left out.
thebhoydaveJAPAN says:
29 October, 2011 at 08:50
Happy birthday mate, three points would be a great present!
Where are you in Japan, Mrs Starry is from Ichikawa, near Tokyio..
Hx2
lionroars67@08:35
Whyte initially said that the BBC were banned sine die from the Bigotdome. He has now backed down by granting them ‘facilities’ to brodcast. Its all hands to the pumps amongst the Laptop Loyal. Look at Delahunt on Clyde last night. Apparently he read out a ‘statement’ from the Huns saying they wouldn’t be going into Administration ‘tonight’. Isn’t it strange that no such ‘statement’ can be found anywhere?
Anyways, we need the sheep to take something off these tax dodgers at lunchtime followed by 3 points for us, so we can start to turn the screw a bit
2-0 to the Bhoys today
Weather looking good for the ducks here in Gourock. Looking forward to the game today and then a date wie chick dung tonight. A couple of early goals would be good although 3points is the only thing needed today.
Hh
vmhan reporeted in from Lancaster..
he will be in at George Sq around about 12.
he will be driving so can give anybody interested a lift over to Sharkeys…
last car I saw him in was a small two seater right enough..
thebhoydaveJAPAN says
Happy Birthday to you. Hope Mrs bdJ is keeping well and the wee yins are driving you nuts!!! Are you heading our way soon? Handy to meet for a beer or two, as I think your bike is still chained to the reailings outside the pub.:))))) Sounds like Mrs bdJ is spoiling you. How did she manage to get a second hand Mitsubishi into the fridge for your birthday. Aftershave not good enough?
GOOD MORNING LOVERS OF GLASGOW CELTIC FOOTBALL CLUB – FOOTBALL SUPPORTING WING.
LET’S GET BACK TO SUPPORTING THE TEAM AND WATCH AS THEY GO A-PUMPING ALL THAT STANDS BEFORE THEM.
CELTIC
HAIL! HAIL!
MWD
This message was brought to you from my cosy warm bed about 30 minutes before I arise (tut tut bhoys – put your inuendo back in the gutter were it belongs) to a beautiful Celtic loving day.