chilledbear

First time in their life they have had anything to do with tax.

Beginning to think this myself. A question for those more learned than myself. What could happen at Rangers, so that the Tax Case becomes irrevalent ?

Well it proves your no tim. They know more about it than we do.

Rangers former chief executive Martin Bain has secured a court order to freeze almost £500,000 of the Ibrox club assets as he a pursues a damages claim against his ex-employer. A judge said he was satisfied that there was "a real and substantial risk of insolvency" for the Scottish Premier League leaders if a major tax brought by HMRC goes against them. Lord Hodge said at the Court of Session in Edinburgh that in reaching that view he was concerned with the degree of possibility and "not actuality or even probability of insolvency". The judge said he was prepared to grant a warrant for arrestment sought by Mr Bain's lawyers but would restrict it to the sum of £480,000. Mr Bain raised a £1.3m claim alleging breach of contract following the takeover at Rangers FC by venture capitalist Craig Whyte, 40, from former owner Sir David Murray. Lord Hodge said he was not persuaded on the material before him that Rangers were presently insolvent "either practically or absolutely". http://news.stv.tv/scotland/west-central/270135-judge-freezes-500000-rangers-assets-over-fears-of-insolvency/

Martin Bain granted an arrestment order on #Rangers accounts for £450,000 On twitter by STV and BBC.

Whether we win the Court case or not, the way I read it, we will be cutting our cloth. If Rangers cut wages by approx. £10m, and our nearest rivals don't, we are in a completely different ball game.

Like Politicians he has a previous regime to blame. I wanted to do this, but things were worse than we thought. Bang goes the promises. I don't really blame him to be truthful, he has a hell of a job on his hands, made more difficult by the media.

Do we know the reason why it was only the press, and not the TV.

He has increased the wage bill in the short term [new contracts] so we can sell with no fear of players running down their contracts. Their will be an enormous amount of downsizing before long. Tax Bill or not.

We know what to expect in the January Window.

I hope Rangers anounce what it actually was that led to this, if true.

You can't blame the media, Rangers are one of the biggest news stories in Scotland. Perhaps it has taken Whyte by surprise, I'm sure he is not used everything he does or he doesn't do, being played out in the Daily Papers.

Spiers can't write a piece about Rangers without having a dig at Supporters.

It looks as if Murray and friends are beginning to panic, for the first time in the media his reign at Rangers is coming under scrutiny. Even Speirs is questioning the state he has left Rangers Financial Affairs.

I didn't know transfers were ever paid in full these days.

People saying they were stolen, and it is now in the hands of the police.

You are certainly an optimist. If I were to take a guess on our financial state, I would say we are skint, especially since the £2.4m has been ring fenced.

We now have to pay penalties plus legal expenses of £5000. Where is the sense in that.

No chance.

Means nothing imo.

Over reporting of the legal bill story. A twitter from STV.

He said that after last week's hearing there had been discussions between the two sides which, by Wednesday, had led to an undertaking to pay up, with interest. "Bank account details were asked for and given," he added. However, Mr Brown said the money had not appeared and there was no explanation for that. Any fault, he suggested, lay with London-based solicitor Gary Withey who is Rangers' company secretary. Legal costs Mr Brown said: "There then followed a frantic out-of-hours series of events... with the benefit of the delay here today, for which parties are grateful, funds were telegraphically transferred this morning." As well as interest on the £35,000, Rangers will also have to pay a fee of £100 and the costs of the court action, which is still to be decided but believed to be about £5,000. Lord Hodge commented that it was unusual for a judge to be so involved in over-seeing an agreement and Mr Brown told him: "There is a real concern about solvency

We keep saying it is just shite-stirring, until something else happens. They took it to court because they wanted to be sure of getting the money. What if someone else does the same, then another. It is not the way to run Rangers.

A real concern about solvency. http://www.bbc.co.uk/news/uk-scotland-glasgow-west-14854938

Supporters being kept in the dark as usual. I wonder how all this would have been played out, if ST sales were imminent.