Redwhite+blue

Amazing. Got me thinking though when did we last come back from 2 goals behind to win a meaningful game?

On 15/11/2019 at 17:39, RANGERRAB said:

As I see things:-

 

There were 72 EBT’s with a total value of £48m between 2001-09

 

HMRC sent a tax demand for £24m which was appealed. Then HMRC added a £50m penalty.

 

seems to me it is this £50m penalty that Oldco liquidators BDO are now questioning.

 

if they’re successful then it surely means HMRC wouldn’t have been able to block the CVA. 

Had a look at administrators proposals: 

So HMRC were included in the proposal for 14 million. This did not take into account the small and large (ebt) tax cases. The 14 million works out at more than 25% of the total creditors claims in the proposals. A CVA wouldn't have passed even without determining the ebt liability as HMRC would not have voted in favour it.

Another reason why a CVA wouldn't have been possible is the shareholders would have had to transfer their shares to the purchaser. Politics involved this wouldn't have happened.

A CVA rescues the company as a going concern, the book value of the freehold properties in the last set of accounts was £109 million. On that basis the going concern value would have been extremely high, who was really going to purchase it on a going concern valuation.

However, the breakup value/forced sale value undertaken by administrators was around 4 million if I remember right.

We are playing marseille in a pre-season friendly, any link to the morelos transfer rumor?