HMRC have confirmed their actions today leave open “potential investigation and pursuit of possible claims against those responsible for the company’s financial affairs in recent years”.
Chances are, HMRC will investigate the actions of SFA president, Campbell Ogilvie, more thoroughly than the investigation carried out by the Association which allowed their chief executive, Stewart Regan, to tell the media that:
“We are all aware of businesses being run where you have one owner and operator running the club and a number of directors sitting below. The way this process has been managed, a lot of this correspondence was done much higher up the chain than Campbell Ogilvie.”
Stewart (if I can be familiar), you’re better than this. Try reading this story one page ahead, figure out where this one is going and start acting accordingly. Of course, President What-school-did-you-go-to then told Scotland on Sunday:
“I might have signed some documents from time to time”.
Mr Regan had better make sure he knows what Mr Ogilvie signed, and I recommend he doesn’t relay exclusively on Mr Ogilvie’s memory.
Untenable
“Those responsible for the company’s financial affairs in recent years” includes Mr Ogilvie throughout his period as a director of Rangers. His position has been untenable for months and his continuing presence at the top of the Scottish FA only further contaminates those who claim otherwise.
The former directors of Rangers will not be the only ones alarmed at this development, recipients of EBTs (including the directors, who will have a second matter to consider) have reason to be concerned.
Not only do Her Majesty’s officers want any potential wrongdoing investigated, they also want their money.
Rangers EBTs were a loan. HMRC will tell recipients of this loan that their side letters (you better believe they’ll all find those side letters now) are not worth the paper they’re written on. If the money was indeed a loan, a demand for repayment will be made. If this is disputed, you can expect to hear the phrase Gratuitous Alienation to enter the lexicon soon. Gratuitous Alienation is the Scots legal term describing when property (or cash) is transferred to another party without any, or adequate, consideration.
I hear HMRC have all their ducks lined up for this one.
Internecine strife doesn’t begin to describe how things will end up.
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JimmyQuinnsbits. Stop putting it on your piles thats a waste of a good 18 year old. H.H.
Brogan Rogan Trevino and Hogan supports Kano 1000 on 12 June, 2012 at 17:25 said:
Thank you sir; on a day where I was already havin’ a good time, the prospect of even half of what you say re HMRC’s intentions being true fills me with joy. Time for the bad guys to be lined up against the wall… reminds me of the Usual Suspects…. and Keyser Soze aint walking away !
HH
Joe Fillipi I concur
Doesnt matter whether they die,start in 3rd division or stay in SPL
All 3 scenarios would be good
Obviously the first 2 are preffered but if in SPL they would be in such a weak state they probbaly wouldget relegated
Joe Filippis Haircut
as a newclub they could buy players unless it was a stipulation of them getting a SPL place
Lennybhoy
As if I wouldn’t know you’re around LOL.
Hi Paul67,
just had to come on on this historic night to congratulate yo on
Lads i will hold my hand up and say i honestly didn’t think HMRC would’ve liquidated them but how wrong was i.
I think we all know the special treatment they have been given for years and that was always on the back of mind.
Is Begley a hun????????
When I heard the news today – got to thinking about who would be their sponsors (on the jersey) in Division 3.
Has to be: pdsa (charity for sick animals)!
pdsa short for (future venues):
Peterhead
Dingwall
Stranraer
Arbroath
…………… that’s if they don’t get put down!
sparkleghirl
BDO are the liquidators and can void any deal not in the interest of the creditors.
TimJim – don’t know. But a hun broke his leg and ended his career.
Great New iPad game called “Angry Bears” has Ragers fans firing themselves at David Murray from big elastic bands.
Paul67
Heartfelt thanks for your ongoing efforts in providing a great platform for us to digest these momentous events and for some brilliantly informative and incisive articles.
It’s media like yours that have loosened the MSM’s stranglehold on Scottish football.
I’m enjoying sipping Champagne whilst watching the football and toasting some Right Good Tims who sadly aren’t still with us. They will live on in the memory far longer than an insidious ex-fitba club.
Cheers!
Genes a Bhoys name. One or two maybe but there will be no real money to sign players and pay big wages. I think they are dead either way.H.H.
Joe Filippis Haircut on 12 June, 2012 at 20:48 said:
Joe, I’m trilling my patent for whisky suppositories, its gonnie gown down (or up) a bomb in the French market… hell, they take suppositories for toothache
I’m gonnie be rich… its a cert
Crystal glasses are a wee bit nippy mind you
ASonOfDan on 12 June, 2012 at 20:52 said:
Even if it’s rushed through before they take over?
Beglin is a clown/incletim
JimmyQuinnsBits on 12 June, 2012 at 20:46 said:
Normally, Whisky goes in the other end.
trilling = trialling
CQN liquidation party Sat 23rd….beer..curry….beer and then relax and liquidate. It would be rude not too.
You know the email addy by now
HH
CRC
Worth a read regarding TUPE conditions.
Key case: Oakland v Wellswood
Mr Oakland was a director, shareholder and employee of food wholesale business Oldco, which had run into financial difficulties. An IP was consulted and a potential buyer sought. The size of Oldco’s debts meant the buyer was not willing to purchase Oldco as a going concern. Instead, the parties agreed to put Oldco into administration. The buyer would incorporate a new company, Wellswood, referred to as Newco at the Employment Appeal Tribunal, which would purchase Oldco’s assets but would not be liable for Oldco’s debts. Joint administrators were appointed and the sale of assets took place.
The primary aim of administration should be to rescue the business as a going concern. If this is not possible, the administrators should seek to maximise the return for creditors.
Government guidance states administration will fall within the category of ‘relevant insolvency proceedings’ for the purposes of the TUPE Regulations 2006, by which employment should automatically transfer.
Shortly after the transfer from Oldco to Newco, Mr Oakland was dismissed and brought an unfair dismissal claim against Newco. Newco successfully argued that, though the business had been in administration, it did not fall within the relevant insolvency proceedings bracket. Therefore, Mr Oakland had not transferred under the TUPE Regulations and his continuity of employment was not preserved.
Mr Oakland’s claim fell because he did not have sufficient length of service with Newco.
So why was this administration not considered to be a set of relevant insolvency proceedings, in line with the Government guidance? Because the administrators admitted that selling the business as a going concern was not going to be achievable and their primary concern was to maximise creditor return. The administrators had been appointed with a view to the eventual liquidation of the company’s assets.
Joe Filippis Haircut on 12 June, 2012 at 20:46 said:
Relegated ? Newco ? No, no, no… that would not be allowed to happen… SPL would come up with the re-structuring proposal “just like what the fans wanted a couple of years back but we told them get lost then, but now it suddenly seems like a great idea”.. Newco back in,,,, business as usual…. blah….
But that aint gonna happen, cause they’re no playin’ in the SPL next year… they’re just no !
Rejoice ! Rejoice! ………The long war is over and the good guys have won. 140 years of brazen sectarianism, bribery and corruption are at an end.
Feel no sympathy for the knuckledraggers who follow follow them for they wish us removed from this earth.
Justice finally done, the beast is slain.
Let it not end there, what about dual contracts?
I have the sweet smell of victory in my nostrils.
Lets raise a glass on this glorious day……………………Hail Hail the celts are here and always will be.
PS Please Mr Desmond & Mr Lawell, do all you can to extracate us from this league.
The end of Rankers means the end of the OF and the end of joint sponsorship
-it just gets better
And keep in your mind Alex Thomson’s comments regards Salmond’s acolytes, if not the fishwife himself, trying to influence HMRC regards giving the cheats an easy ride.
bournesouprecipe
lol!
He sounds like a hun
Have been singing this all day.
Volume up loud: http://youtu.be/_1_K7NBTENw
………ahhh, something from the older cellar tonight……
Cheers Paul!
(….an’ mind ye keep scuddin’ it intae thum!)
I’ve waited 10 years for Rangers liquidation, I’m quite happy to wait until 10.05 on Thursday when the Rangers bigwigs do what they’ve always done to their shareholders, grab their cash with no questions asked.
Then it will be all over… :-)
No kiddy on hybrids this time, gone, gone, gone!
Newco Rangers = New wikpedia entry
No trophies, no history, no official statistics detailing their history, if they do, they’re lying to themselves and their fans, it would just be like old times after all.
Brilliant!
TTTT
As Gene’s a Bhoy’s name has already stated, it’s Italy and normal commercial regulations are seen as advisory rather than compulsory.
I’m sure South of Tunis or Italia Bhoy will have more inside information on the machinations.
The number of titles involved were not so great. Fiorentina have only won the title twice and lie joint 9th in the all time list behind
Juve-28
Milan- 18
Inter-18
Genoa-9
Torino, Bologna & Pro Vercelli-7
Roma- 3
Lazio, Napoli & Fiorentina 2
So Rangers should pay at least 27 times what they paid plus settle their debts before we consider it.
Beglin ain’t no hun, thats for sure, he is a complete twat, but never a hun….
ASonOfDan on 12 June, 2012 at 20:27 said:
You’re lucky……. Not one of them spoke to me in the health club tonight ….it was great……smiled that everlasting smile….
Gene – the recent news about another match-fixing scandal in Italy proves you’re right, but we have the biggest scandal in the history of British sport unfolding in Glasgow.
And where were all the valiant investigative sport reporters while this scandal was developing….?!
C’mon Polska!
T4
Anyone remember the old Spitting Image song?
“I’ve never met a nice South African….”
Swopping SA for Russian would be very apt in my view
TFOD in the SPL in any form will be a threat unless the cheating MIB is addressed.
Poland!!!!!!!!!!!!!
What a goal