Bluedell 5,354 Posted May 8, 2011 Share Posted May 8, 2011 cheers i am sure you are right. Welcome to the site, mate. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted May 8, 2011 Share Posted May 8, 2011 i always thought hmrc had first dibs no matter what. however as you say bluedells the man to say for sure I believe that HMRC lost its status of preferred creditor in 2003. Spot on BD and I think that's why administration might be a serious option for the club if HMRC win and hit us with a massive tax bill. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted May 8, 2011 Share Posted May 8, 2011 http://en.wikipedia.org/wiki/Administration_(British_football)#Football_creditors_rule 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,354 Posted May 8, 2011 Share Posted May 8, 2011 Spot on BD and I think that's why administration might be a serious option for the club if HMRC win and hit us with a massive tax bill. I'm not an expert in administration but it could be that Whyte securing the debt is protecting the club. If HMRC are owed cash but the administrator believes that it will get paid a small amount after the preferred creditor has been paid then perhaps some sort of deal can be done and Whyte can buy back the club on a pre-pack basis after "waiving" the amount due to Wavetower. Not sure if it works like that, but it may be one way of dealing with the threat at minimal risk. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted May 8, 2011 Share Posted May 8, 2011 alot of mud is being thrown at the ibc but it concerns me that they are the only rangers fans who have seen the plan and they dont like it. at very least the only ones who dont stand to gain from it. 0 Quote Link to post Share on other sites More sharing options...
CumbernauldGers 0 Posted May 8, 2011 Share Posted May 8, 2011 When I was 14 I found out my auntie was really my uncle, couldn't undrestand it at first. Nothing worst than when these things happen mate ha. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted May 8, 2011 Share Posted May 8, 2011 I'm not an expert in administration but it could be that Whyte securing the debt is protecting the club. If HMRC are owed cash but the administrator believes that it will get paid a small amount after the preferred creditor has been paid then perhaps some sort of deal can be done and Whyte can buy back the club on a pre-pack basis after "waiving" the amount due to Wavetower. Not sure if it works like that, but it may be one way of dealing with the threat at minimal risk. i think its interesting that he attended the game yesterday with at least one tax expert and others with expertise in debt and refinance turnaround etc. 0 Quote Link to post Share on other sites More sharing options...
CumbernauldGers 0 Posted May 8, 2011 Share Posted May 8, 2011 alot of mud is being thrown at the ibc but it concerns me that they are the only rangers fans who have seen the plan and they dont like it. at very least the only ones who dont stand to gain from it. Welcome to the site mate. This site is much better than RM as you can debate here. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,354 Posted May 8, 2011 Share Posted May 8, 2011 i think its interesting that he attended the game yesterday with at least one tax expert and others with expertise in debt and refinance turnaround etc. And 2 PR men, which will hopefully be good for the club and the support. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted May 8, 2011 Share Posted May 8, 2011 its something we could really do with. hes certainly proactive about things people say about him but then so was sdm. 0 Quote Link to post Share on other sites More sharing options...
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