chilledbear 16 Posted May 28, 2011 Share Posted May 28, 2011 I wonder how Whyte is going to "invest" the cash? Will it be: 1. a share issue? 2. a gift? 3. a loan to be waived "in the foreseeable future"? Hopefully we will find out when the shareholder circular is issued. B In layman terms can you explain No.3. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted May 28, 2011 Share Posted May 28, 2011 B In layman terms can you explain No.3. It's extremely unusual for a company owner just to gift cash to a company. They would normally do it by way of a share issue or lending the company money. The easiest way for Whyte to get cash into the club is for him to lend the cash via Wavetower. At the time of the club sale, MIH said ""Wavetower will also acquire the indebtedness of Lloyds Banking Group, the secured creditor, and is under an obligation to waive this debt in the foreseeable future, thereby strengthening the club's balance sheet." The bottom line is that the club would owe Whyte/Wavetower cash and they would just waive their right to it, meaning the club no longer owed the cash, however this is also an unusual treatment. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted May 28, 2011 Share Posted May 28, 2011 We might not owe Lloyds, but I cannot believe we do not owe someone �£18m. We still owe them circa �£4 million for the sale/leaseback of the Albion. I wonder how Whyte is going to "invest" the cash? Will it be: 1. a share issue? 2. a gift? 3. a loan to be waived "in the foreseeable future"? Hopefully we will find out when the shareholder circular is issued. Is it possible that a favourable resolution of the tax dispute may result in a set of circumstances where options 2 and 3 may well become feasible ? Hence why the "loan" has not been waived at present. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted May 28, 2011 Share Posted May 28, 2011 If the Tax dispute went against Rangers, would they be able to waive the debt at any time in the future ? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted May 28, 2011 Share Posted May 28, 2011 If the Tax dispute went against Rangers, would they be able to waive the debt at any time in the future ? I doubt they would wish to do so in that event. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted May 28, 2011 Share Posted May 28, 2011 Best not even considering the tax case going against us because that would be quite bad. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted May 28, 2011 Share Posted May 28, 2011 I doubt they would wish to do so in that event. They would still be 'under an obligation' tho'. I agree with you, that is why I don't understand the wording. A bottle of wine, and the Final now. 0 Quote Link to post Share on other sites More sharing options...
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