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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Link to Sportsound if anyone cant find it. Paul clark on now
http://www.bbc.co.uk/sport/0/scotland/17325775
Parkheadcumsalford, this will be giving ‘more’ for years.
BRTH, 17:25, yes, totally agree. You’ve been shared.
The Bottom Line is, erm, careful with that ‘bottom line’.
johann Murdoch, decision should have been made months ago.
Pantaloon Duck ;-)
dixiebhoy69, agree.
lynott67, you’re very welcome.
lennon’s passion, writing has been on the wall for a while.
mighty tim, thanks for your kind words.
bould Hector’s bhoys, I sure will, thanks.
proudbhoy, cheers.
Declan, tanks on the marble staircase! Forgot about that one.
GyEMerald, no let up for a while yet.
Lennybhoy, that sense of smell has been reliable for you.
J titor, good for you to fly back to our time on this momentous day.
We will miss your intercessions.
Chips for dinner, then.
Charles Green: the CVA hasn’t been rejected yet. It might not be, despite the HMRC statements today.
What happens to their players contracts????
Does Keevins not understand that they cannot sell players, they are free to leave
Kojo,
Green is saying he has a deal in place to buy the hole lot for 5.5m with D&P,
don’t know if it’s legal now.
Finally I can ask the question, Are the Huns dead yet?
The reply being…
Lovely evening here in North Ayrshire. Sun’s out; beer’s in. All we need now is for Big Giorgio to pull things round for Hellas.
Paul Murray: “Obviously it’s a very sad day for the club. But one of the very few good things that might come from this is that BDO as liquidators have significant powers of investigation and it’s to be hoped that a detailed investigation will take place into everyone involved, particularly Craig Whyte and Duff & Phelps.”
Wasn’t there a Director called Paul Murray too? Maybe he will be part of the investigation.
Players will not be sold, transferred to newco with contracts. A TUPE transfer.
I’m hearing Paul Clark on Radio Scotland just now, apparently Rangers’ history will be preserved. Honestly, these people work in administration, do they not know how it works?
Upon liquidation all players contracts revert to SFA.
GordonJ – he will be. And he’ll be banned from football at some stage. In fact I think he already is having been involved with a club in the period prior to insolvency.
Don’t know who is pulling his strings but as with all these spokespeople for them uns there is a complete lack of class and ability there.
Tee hee hee
peter1973 on 12 June, 2012 at 18:23 said:
It seems to me that Paul Clark and his sidekick have very little idea about how these things wor.
ASonofDan
Not according to D&P.
Bloke109 is Neil Lennon on 12 June, 2012 at 18:23 said:
Union seem to think they can walk away…
http://local.stv.tv/aberdeen/news/304122-rangers-players-could-walk-away-from-a-newco-says-pfa-scotland-chief/
… forgot they don’t do that!!
SonofDan, thanks.
So does that mean they are free agents? £8 million of assets gone?
Oh dear.
VP-I can’t remember anyone complaining about the lack of competition when we were in the grubber.Teflon Duffield on Snyde now.
when Stefan Klos receives his unpaid tax bill I reckon Wolfgang Feiersinger should pay it for him.
Duff&Duffer have stated the creditors meeting is just for formalities after HMRC rejected CVA. Someone should tell Green!
Something tells me that the Big Hoose might not be staying open!
Fair play to Traynors who is saying that it will be an new co and has such has no history and this is why UEFA make them wait three years to take part in competitions. A newco …No History !
has the shred-it van turned up yet?
HH
Kayal
That was my understanding, but D&P don’t see it that way, according to Radio Scotland interview.
SPL vote. What we know so far.
Keep Newco – Newco, Kilmarnock
Reject Newco – Hibs, Dundee Utd, St Johnstone
No Comment to Date – Celtic, Aberdeen, Hearts, ICT, Ross County, Motherwell, St Mirren
Off topic
best name of the tournament just substituted – Kostas Fortounis :)
Bloke109 is Neil Lennon on 12 June, 2012 at 18:27 said:
so given they’ve got hee-haw right in the last 4 months its a certainty they can leave for nothing
Wife asking how I can listen to 2 trannies at the same time?
Told I have 2 ears.
They are quite convincing with a wee drink in you.
I’ll get my coat
Greece giving it a go now.
Kayal
Well yes, that’s the reality. No European football for three years, less income so less for wages, therefore D&P can say what they like, but players will walk.
Bloke109 is Neil Lennon on 12 June, 2012 at 18:23 said:
Players will not be sold, transferred to newco with contracts. A TUPE transfer.
I don’t think they do, TUPE covers transfer of ownership of a Company, surely the Company is being liquidated, therefore no longers exists, any new Company is exactly that, a new Company, they own nothing and need to bid for the assets.
Woohooooo
and there’s me thinking liquidation is good!!!!
all the other stuff about to hit the fan will be real blockbuster cinema stuff!!!
Mon the HMRC!!!!!
on another note for any Irish tims looking in, did you see the Tricolour on Sunday night saying ‘Sharon Curleys pregnant’????
brilliant, from the film ‘the snapper’ in the 80’s
I asked my buddy had he seen it on sunday night, when he replied he said “sharon curley would’ve done better than keano!!!!! priceless!!!!
Great Article Paul, don’t give them time to draw breath. It going to get very messy from here and let’s hope this is the beginning of the end of their whole Cabal.
Celebrating 140 years. How did they know?
Magnificent7
Sorry, I was quoting D&P from Radio Scotland interview – I agree with you.
I think players are unemployed if the club folds,contracts must fold with them.
Just gave my commiserations to a Hun in a pub that I use occassionally. He did not know I was a Tim as I never spoke to him before today.
He always has a hun top on.
“nah” he says “it will never happen. We are too big”
“by the way, I never knew you were a Fenian bast…
“well you know now and do not forget it and always remember why this big Fenian B….. Is always smiling”
Lyndsey Goddard @lyndseygoddard
a sad day for #Rangers fans and those of us married to one of them