biggordy 0 Posted September 14, 2011 Share Posted September 14, 2011 Bain plays major role in the financial mismanagement of the Club resulting in possible multi million debt to HMRC. Bain sacked due to "financial irregularities" Bain exerts more financial pressure on Club by having £500,000 frozen. Therefore leaving Club in deeper trouble which was partly caused by him in the first place. This seems like rewarding himself for failure. This is not logical. Will Bain be culpable for any debts to HMRC which accrued while he was handling matters at the Club ?......Will Murray ? 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted September 14, 2011 Share Posted September 14, 2011 The things you learn with all this shite going on. The directors are liable as they are the ones responsible for paying the tax but as they are all mostly gone I don't know. Big rumour Murray did a deal with Whyte over the big debt but think that's just wishful thinking, unless it was along the lines of I pay some you pay some and here's the club get on with it as he laughs up his sleeve. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted September 14, 2011 Share Posted September 14, 2011 The directors are liable as they are the ones responsible for paying the tax but as they are all mostly gone I don't know. It's very unlikely that the directors would be liable. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted September 14, 2011 Share Posted September 14, 2011 Bain plays major role in the financial mismanagement of the Club resulting in possible multi million debt to HMRC. We don't know how big a role Bain played in the financial mismanagement. It could be that Sir Vineyard is the only one who can really be blamed. Bain sacked due to "financial irregularities" I think the initial accusation of 'financial irregularities' was quickly altered to just 'irregularities' when Bain threatened legal action, but I can't remember the exact details. He wasn't sacked as such though. The announcement to the stock exchange stated that he resigned - Rangers Football Club P.L.C. (the "Company") Directorate Change The board announces that Martin Bain has resigned as a director and employee of the Company with immediate effect. The Directors of The Rangers Football Club P.L.C. accept responsibility for this announcement. END (END) Dow Jones Newswires June 24, 2011 11:21 ET (15:21 GMT) 0 Quote Link to post Share on other sites More sharing options...
Danny 0 Posted September 14, 2011 Share Posted September 14, 2011 I still don't actually know what to make of all this. Clearly Bain resents being fired/suspended to the level that he wants to sue for over a million. What does it matter to him if Rangers go under and can't afford the payment? Bain isn't a Rangers man - sees us as a company he has an axe to grind with, whether he's right or not. I hated him when he was our employee, but tbh, the current regime isn't doing a fucking lot better quite honestly. Whyte hasn't put his money where his mouth is, and we actually seem financially in a worse position than under SDM. The only difference is we're no longer in debt to Lloyds, we're in debt to someone else instead. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,185 Posted September 14, 2011 Share Posted September 14, 2011 It's very unlikely that the directors would be liable. I think HMRc are attempting to change the law so they can go after directors. 0 Quote Link to post Share on other sites More sharing options...
boss 0 Posted September 14, 2011 Share Posted September 14, 2011 I think HMRc are attempting to change the law so they can go after directors. There are some instances already where HMRC can go after directors although this is rarely seen in practice. I agree with Bluedell's assessment that it is very unlikely the directors would be liable. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,185 Posted September 14, 2011 Share Posted September 14, 2011 There are some instances already where HMRC can go after directors although this is rarely seen in practice. I agree with Bluedell's assessment that it is very unlikely the directors would be liable. I do agree but hopefully some of those responsible for certain dubious business practices are made to pay somehow if our club loses out down the line. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted September 14, 2011 Share Posted September 14, 2011 I still don't actually know what to make of all this. Clearly Bain resents being fired/suspended to the level that he wants to sue for over a million. What does it matter to him if Rangers go under and can't afford the payment? Bain isn't a Rangers man - sees us as a company he has an axe to grind with, whether he's right or not. I hated him when he was our employee, but tbh, the current regime isn't doing a fucking lot better quite honestly. Whyte hasn't put his money where his mouth is, and we actually seem financially in a worse position than under SDM. The only difference is we're no longer in debt to Lloyds, we're in debt to someone else instead. I wouldn't plough money in myself either at the moment Danny until this whole mess is sorted. He's put money in the bank account to keep us going and we aren't paying interest on the debt about all he can do at the moment 0 Quote Link to post Share on other sites More sharing options...
Danny 0 Posted September 14, 2011 Share Posted September 14, 2011 I wouldn't plough money in myself either at the moment Danny until this whole mess is sorted. He's put money in the bank account to keep us going and we aren't paying interest on the debt about all he can do at the moment So you're a Whyte supporter? 0 Quote Link to post Share on other sites More sharing options...
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