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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The real mess is only just starting and HMRC aren’t doing walking away. I liked the 11th commandment on the AT blog: “Thou shalt not get away with it”
Go on Hector son, release the dogs.
Bada Bing. What we are witnessing is slight of hand these so called experts saying the old club die but New Club move on taking the assets and players from the liquidated Rangers.I think many of these so called experts are in for a shock. H.H.
Too funny that some of thems launched a new online magazine yesterday, the Thems Standard. Gone in 24 hours.
A menagerie. Dominated by the carcass of a wee bear and a wide variety of vultures, hyenas and other parasites jostling for the most advantageous position.
What a way to go…
Please Big Hoose guy come oot yir cave…
As others have suggested, I would rather the football authorities left the titles the huns stole during the EBT era, were left blank, rather than given to us…lest we forget…as well as the fact we would soon overtake them anyway…although on the other hand us overtaking their title record sooner rather than later would really rub salt in the wounds…is this schadenfruede getting out of control?
I am afraid that the Hun element will be the ones that continue support in whatever division – they will be up to their knees in Stranraer or wherever – they can’t help it
Surely the easy thing here is to have a corporate liquidation expert explain what is about to happen and whether a Newco has any rights to players/name/history etc. It’s not as if this is the first company to go into the big L.
Let’s stop all the speculation, all the lies, all the spin and get the truth. Either they can keep their history or the cannot. It must be written in black and white for the countless companies that have experienced this fate.
Something that concerned me on the statement from Duff and Phelps re. HMRC this afternoon is they quoted HMRC saying that it would allow Rangers to be sold and be free of litigation and of debt.
Socks round the ankles and no shinnies on 12 June, 2012 at 19:10 said:
did you see the oul fellas eyes?
no harm to the fella but now that was scary!
theme tune from damien was playing in the background
Ghuys,
Green just slipped up on national T.V. on STV he was moaning his face off. However, his last words were in answer to HMRC policy would be to liquidate Companies with RFC (IA) track record, he replied “why did’t tell us that in March”
Excuse me but did he not only get involved in May. Always suspected that he has been in league with Whyte, a freudian slip on Mr. Green’s part…
HMRC has picked this up Mr. Green…
Keep the Faith!
Hail Hail!
Gonnae stoap mentioning TUPE,cannae get
wiggy smiff oot of my heid.
First time ever John McKay hasn’t told us his name when reading the news, he must be so upset that he forgot!
Anyone heard of a massive huddle to be arranged for Thursday.
Will Smudger “Wiggy” Smith be involved in the TUPE transfers?
Lennybhoy @ 19:13
Nicely done, – Sir.
Further to my post above, here is what greatly concerns me:
A statement from the tax authority read: “A liquidation provides the best opportunity to protect taxpayers, by allowing the potential investigation and pursuit of possible claims against those responsible for the company’s financial affairs in recent years.
“A CVA would restrict the scope of such action.
“Moreover the liquidation route does not prejudice the proposed sale of the club. This sale can take place either through a CVA or a liquidation.
“So the sale is not being undermined, it simply takes a different route.
“Liquidation will enable a sale of the football assets to be made to a new company, thereby ensuring that football will continue at Ibrox.
“It also means that the new company will be free from claims or litigation in a way which would not be achievable with a CVA.
“Rangers can make a fresh start.”
THOSE LAST FEW LINES ARE SURELY IN CONTRAST TO EVERYTHING WE ON CQN ARE SAYING.
Fireworks over Erskine on Thursday, I think. Now a believe excuse for the wife would be appreciated.
Embdae seen Jim White?
Che on 12 June at 19.12
Damien is too much of a Tim name, that film will be on the Follow Follow banned list
Embdae seen John fae Coocaddens?
TUPE was never the same without Paula Yates
Been away, Paul, and only getting caight up. For now I just wanted to say a big thank you for phase 1. The real battle, SFA and SPL, now begins and we will be right with you.
H H
!!Bada Bing!! on 12 June, 2012 at 19:17 said:
They are both in Amsterdam on a lads holiday?
Sorry my profoundness is slipping
If Tiger Woods falls on hard times and I buy his old clubs in a car boot sale, that don’t make me Tiger Woods
If Nadal hits the slide and I bought his old tennis racket in a jumble sale,
that don’t make me Rafa Nadal
If Green and White buy Aye Brokes,
that certainly don’t make ’em Glasgow-Rangers in Disgrace
Media buffoons that are saying the trading part (football club) will continue. No it damn well won’t -there will be lots of walking away.
Time for liftetime bans for recent former directors of RFCIA and expulsion from the SFA before the Liquidation is formalised. Only in Scotland would the cheating go unpunished.
Hand the stolen trophies back now.
No to Newco !
According to the Directgov government web site:
“Creditors’ voluntary liquidation – If your employer has brought in a liquidator to sell the business because it is in creditors’ voluntary liquidation, your employment will not transfer to a new employer.”
DeniaBhoy
Not sure what’s contradicting with what people on here are posting. No European football for three years, up in the air whether they’ll be in SPL, players as free agents, having to save themselves ten million a year (their current annual loss I believe), with a Ticketus season-ticket deal still to be resolved, as well as Whyte’s floating charges and a coy HMRC who will be keeping a weather eye on all tax returns, NI and PAYE, all the while chasing recoups of EBTs.
HMRC may be factually correct in their last lines, but there’s a whole heap of other troubles for the club that doesn’t exist.
Anyone seen the BBC Scotland Sports News video interviewing Rangers fans?
Why would you buy a 1 year old a brick for Christmas?
Is there a corner of Ibrox with some bricks missing?
Is this a preparation, in the “aye ready” spirit, for the impending wrecking ball opera to come?
Won’t the brick be devalued once the city is awash with Ibrokes bricks post demolition?
How do you know your getting a bonafide Ibrokes brick and no wan procured fae B&Q- how dae yae prove it?
Does anyone know a good plastic surgeon? Got the news while outside today and just as I took it in, well, the wind changed.
GrinningLikeTheJokerCSC
Deniabhoy
Does Brian Kennedy not expect more in return for sponsoring the SPL than mere exposure or doesnt he own Weatherseal ?
HH
Alex C4………Doo Doo
1. Rangers will be banned from European competition for three years.
2. Most of their players can and will leave in the coming weeks often – many having no doubt had enough of doing their bit on wage cuts of up to 75 per cent.
3. The club still faces the Big Tax Case tribunal decision laughingly due “soon after Easter”, and on that the HMRC still have no news, this could see Rangers face a further tax bill of up to £70m in dues and penalties.
4. The Scottish Premier League will soon run out of excuses to not report on its investigation into alleged wrongful player registration which, if the club is found guilty as charged, could see the club losing much of its silverware won over the past decade or so.t
5. The liquidation makes it even more difficult for both the Scottish Premier League and its appeal body the Scottish Football Association to readmit and license Rangers to play in the Scottish Premier League.
6. Despite the Green consortium’s lofty statements about buying the club’s assets, there is no guarantee that they will in fact be bought up as a job lot. There is no guarantee about simply playing on at Ibrox. There are, as things stand, few guarantees in terms of the asset sale at all.
It is hard to see any way forward with any kind of probity except starting a clean sheet at the foot of the Third Division in Scotland and playing their way back, thereby sending a message across the sporting world, at last, that some things matter more than money – even in football.
And that is what many Rangers fans – for so long ignored in all this and the people most badly sold down the river by those who “managed” their club – want to see happen. To that extent they are the people, the people who matter, and, unlike all their directors, they did not walk away and they will not.
Did you know John Mackay has the second smallest house on his estate? Hun and small house syndrome, no wonder he never smiles
“Oh! Look at wee Martin Luther playing wae his brick.”
C4 NOW
Neutral at work said well that will be Celtic’s season tickets taking a nose dive. He was astonished when I told him figures were better than last year and that our support of Celtic wasnot in any way linked to RFCIL.
Great time to be a season ticket holder in Paradise.
Damn. No bluenose joke after all
C4-Strathclyde Police to investigate the huns.
!!Bada Bing!! on 12 June, 2012 at 19:17 said:
Embdae seen John fae Coocaddens?
Last seen heading for the Erskine Bridge.
Hail Hail
was there any significance in C4 report where they showed a zoomed in shot of the gates at Ibrox only showing the letters NG???