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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Morning Celts no Champers yesterday due to medication, but I followed the blog all day and it was a marathon of epic proportion.
Paul67 thanks for sticking with this all the way, I had faith in you that the end game would be Liquidation.
I’m awaiting the SPL vote and I think that will be time for CFC to show their hand.
I renewed my ST for a couple of reasons…..
1. As a thank you to Neil Lennon, the players and the club for last season and
2. To support CFC for the new season, a commitment to the future.
I have to say at this point in time if we the SPL vote allows scotlands shame into the SPL and CFC accept it without serving a notice to quit, then I’m finished with Scottish football, for me there would be no reason to continue propping up a rigged competition which is morally, financially and politically corrupt.
For the record I believe a Newco will be voted into the SPL and that Celtic Football Club will quit the SPL.
V
HH
This could become interesting, just saw BBC news there,
They are saying, Green has told players they will be in breach of contract if they don’t move over to newco. mmmmmm
What’s the chances of the blue knights offering BDO more than green has offered D&P……….?
I see the MSM on national TV still do not have a clue….they’re discussing if a NEWCO
“…… Were voted BACK into the SPL”
http://www.youtube.com/watch?v=C8f6-WiJRGw&feature=player_embedded
Do these clowns read up on the subject before making an arse of themselves?
Stupid Huns!
Good morning from East Kilbride where it’s one of the brightest, driest, nae-windiest most pleasantly warm and sunny mornings in the world…EVER!
What an interesting 36 hours lie ahead..
Take care!
Jobo
At least (and at last) one Rangers spokesman is taking a more realistic line. John MacMillan of the Rangers Supporters Association:
” “We need to be humble. The other SPL clubs didn’t get us in this mess. We did it ourselves. It looks as if our fate is in the hands of the football authorities now.”
Morning all from gay Paree, cloudy with frequent showers (17C max.)
If you see an RFC(il) fan today, don’t gloat: do the decent thing and walk on by…
If you see me walking down the street
And I start to cry each time we meet
Walk on by, walk on by
Make believe
that you don’t see the tears
Just let me grieve
in private ’cause each time I see you
I break down and cry
And walk on by (don’t stop)
And walk on by (don’t stop)
And walk on by
I just can’t get over losing you
And so if I seem broken and blue
Walk on by, walk on by
Foolish pride
Is all that I have left
So let me hide
The tears and the sadness you gave me
When you said goodbye
Walk on by
and walk on by
and walk by (don’t stop)
Walk on by, walk on by
Foolish pride
Is all that I have left
So let me hide
The tears and the sadness you gave me
When you said goodbye
Walk on by (don’t stop)
and walk on by (don’t stop)
and walk by (don’t stop)
RFC(il): Time to Pay the Wages of Sin
top o the morning to you Jobo , I almost wish I was just down the road from you with my family opening the champagne. As it is sitting in front of a roaring fire and the liquidation is going down well. Went round to Tauranga Toyota to share a manly hug with my mate Danny and been a cheshire cat all day. I’ll have an official total liquidation this weekend and I can see that the sad deluded story , unlike the huns history, still has some sordid way to go and will continue to give me a right good laugh for some time. Hail Hail CQNer’s happy to be alive to see the end , the death , the destruction , humiliation and shaming of the south side cheaters.
gerry on 13 June, 2012 at 06:32 said:
This could become interesting, just saw BBC news there,
They are saying, Green has told players they will be in breach of contract if they don’t move over to newco. mmmmmm
===============================================
For a guy who doesn’t own rangers he does a lot of talking on their behalf.
Oooops, forgot, no one can ever own rangers, because they are dead.
So, for a guy who doesn’t own the newco (yet) he talks a lot on it’s behalf……
Here, why’d nobody tell me we’d a new home top out?
How did I not know that?
I rather like it.
Has McCoist taken a vow of silence?
Very strange that in light of yesterday’s news there is no media friendly soundbites being offered by the cheeky chappie. I would have thought the journos would have been camping on his doorstep. Has Green instructed everyone to shut up so his is the only voice? . . . or does it mean no one wants to publicly back Green?
In this entire fiasco one issue has been little reported, but remains potentially hugely significant.
That is: the sate of Ibrox Stadium.
Two years ago, burst pipes meant the cancellation of an RFC game, and the following week’s Celtic game was in doubt. At the time, Traynor wrote in the DR that the stadium needed £12milllion of urgent maintenance. Curiously, he never followed up on tis explosive news.
Then, earlier this week, Dave King alluded to a significant amount of remedial work being needed as one of the reasons Green should not get the club – ie he doesn’t have this money and has no plans to stay for even the medium term.
It strikes me that if Ibrox requires millions of pounds of work to keep it standing, then however buys it has a big problem – especially if he is in this for a short-term gain.
Now they know why nobody liked them……..
Technically, yesterday was a triumph for all right minded people but we all know there will still be a (Glasgow) Rankers.
For me, the important short-term answers need to be answered:
Who owns thems assets?
What will the revised punishment be for the already judged misdemeanours?
Will they be voted back into SPHell?
How many of thems players will stay?
Lastly, thank you Paul for your leadership and determination and, most importantly, the quality of the information you have provided over the past few years!
It is to your eternal credit that I and many others first check out CQN for the real stories behind the hun myths and fantasies most of which, laughably, originate in the MSM.
Keep up the high quality work!
HH to you all!
Operation “throw wool over their eyes” will be raised from overdrive to warp speed in the coming hours.
Can they still sell season tickets by the way?
gerry on 13 June, 2012 at 06:32 said:
That should ensure he gets a load of player of the wage bill
This guy is a belter ,he is so good the bewildered ragers fans have still not seen through him YET .
He has
peed the creditors off
peed HMRC off
peed SFA off
now peed the players off
last but not least the knuckdraggers
mcdonaldsCSC I’m loving it
HH
Morning all – beautiful clear skies clear over Greenwich.
Promising to be a cracker:)
Just had to log on and say:
“Paul67, Phil Mac, RTC Guy et al I salute your indefatigability!!”
Le Hun est mort.
Now for the next fascinating chapter.
Is Dave King set to become the new Our Hero?
Cue the music from Soap…
Hail, hail to all bhoys and ghals around the globe:)))
DeniaBhoy on 13 June, 2012 at 07:13 said:
Ticketus hope so
HH
No to any Newco being allowed to come straight in to the SPL. They must be made to register with the SFA as a new club (and not Rangers) starting from scratch and apply to join the SFL to start in div 3
Good morning bhoys & ghirls
Went to montys last night for a celebratory drink and discussing the demise of them (loudly) turned out the young barman was (used to be) a season
Book holder for 15 years at smellydome, Smiled broadly and bought him a drink.
Looking forward to the new season, have we signed anybody yet….
Hail Hail the Celts are (still) here
Italiabhoy
I like the sound of that!
Even the Duff administrators cant wipe away the future cost of refurbishment!
HH
Wonder what their new crest(fallen) will look like..?….the wee road sign with the car going over the cliff..?
itakiabhoy
I’m sure they wll only need one stand when they play in the third division..
it could be at Firhill for all we know… o))
Italia bhoy
sorry for the spelling…
blinking keyboard…..
The Blue Room is now a museum.
TT
Can I ask a favour of anybody who is out and about in Glasgow, could you get me a copy of the Sun and the Daily Record and I’ll get my address to you with the cost and the price of a pint.
morning all from a sun drenched Donegal , what a day that was said i would not drink but after the news it was session time paying for it now i am hitting the rocky road to poland today for the Spain game by the time i make it home they will have died a horrible death at there own hands great justice Hail Hail All
Come On The Irish
Tiocfaidh ár lá
verdantvic on 13 June, 2012 at 01:04 said:
ftsfa
you blight this site
Ha ha ha Read some of the posts after yours then take a look In the mirror …pal..
“Jelly and ice cream when rangers died,Hundreds and thousands when Thatcher dies ”
FTSFA still unrepentant H.H
Will any bhuns naive enough to have bought a ST get their money back now. He He
Have the SFA or the SPL made any ‘Official’ statements yet?
Morning All,
Bloody glorious morning here in South Ayrshire and I havnae even opened the curtains yet ;) Seems Mr Green and his 5.5M is now in question as well…..
http://www.heraldscotland.com/sport/football/spurned-bidder-poised-to-revive-rangers-bid.17860526
They keep on giving even from the grave! ;)
Mac
Does Charles Green own more than one suit and if not, has the one he never has off hisback ever seen a dry-cleaners or and iron?
He reminds me of Craig Whyte and his inability to wear a tie.
Both of them remind me of Michael Knighton.
Havin a party cause rangers are dead!!!!
Oh yeah!
GourockEmeraldBhoy on 13 June, 2012 at 07:20 said:
Good morning bhoys & ghirls
Went to montys last night for a celebratory drink and discussing the demise of them (loudly) turned out the young barman was (used to be) a season
Book holder for 15 years at smellydome, Smiled broadly and bought him a drink.
Looking forward to the new season, have we signed anybody yet….
“Liquidation is like a new signing”! :P
That last comment was my wee boy -aged 9 and just made his first posting!
Proud as punch ;-)
Predictions:
SPL to vote foe malign straight in
STs to be less than 20,000
Crowds to plummet when results go awry and no amount of MIbbery can turn them
SPL reorganisation to 10 teams to ensure 4 Celtic v Hunthing games
BoS, on the orders of LTSB, to withdraw credit facilities from Scottish Football
Celtic to complete 10iar 20pts clear
Morning,
All kicking off now.
Herald Sport understands one of the
previous bidders for the club intends to
submit a new bid today, while another is
considering their options but could also
return with an offer that is higher than the
price Green has arranged with the club’s
administrators.
A third, new bidder also intends to make a
bid, having previously carried out due
diligence.
All three groups believe the combination of
higher purchase offers and the widespread
belief among creditors that the £5.5m price
undervalues the business and Ibrox, Murray
Park and Albion car park, might be enough
to pressure Duff & Phelps into backing out
of their agreement with Green. The
administrators insist that they have a
binding contract with the Yorkshireman’s
consortium, but Herald Sport also
understands Green has not yet raised all of
the £5.5m, so may be unable to complete
the purchase.
Green and Paul Clark, of Duff & Phelps, are
adamant nothing would prevent their deal
being completed following the Company
Voluntary Arrangement vote at tomorrow’s
creditors’ meeting. HMRC have indicated
they will vote against the CVA proposal,
which then prompts Green’s deal to buy the
business and assets for £5.5m. A creditor
can challenge this by claiming the assets are
undervalued, but that can be difficult to
prove.
However, HMRC may apply pressure to Duff
& Phelps to accept one of the new, higher
offers, particularly if Green has not raised
the full finance. Dave King, the Rangers
director and the club’s second highest
shareholder, has also threatened to halt
proceedings by seeking an injunction.
“There is, in my view, no possibility Green
will ever own the club,” King said.
Herald Sport also understands one of the
investors in Green’s consortium is Rafat
Rizvi, a British citizen who was once on
Interpol’s wanted list after being accused of
stealing assets from Indonesia’s Bank
Century two years ago, a charge which he
denied. Herald Sport believes that Rizvi is
investing £2m in Green’s Sevco consortium,
with Mike McDonald, the former Sheffield
United chairman, investing a further £2m. A
third investor had agreed to put in £4m, but
pulled out last weekend.
The Blue Knights, Bill Ng’s Singapore
consortium and a UK group all lodged bids
before Duff & Phelps chose Green’s offer.
ftsfa
Read the comments from last night.
Thatcher was a blight on millions of ordinary peoples lives during the time of her reign and was directly responsible for the murder of Argentinian sailors.
I lived throught the miners strike and witnessed the devastation of hunderds of well-established communities financially and practically dependent on the continuation of the mining industry.
Thatcher was ideologically driven and cared not one jot for the welfare of these and many other working people.
I fully understand why many people have no sympathy for someone who caused so much misery and suffering!
To me, what she did is no more justifiable than the actions of mass muderers.
I will celebrate her passing although I do not wish her to physically suffer in her old age!
HH