The big tax case - decision this week? Impact on bids?

[bigy 0]

Is the big tax case verdict due this week? I'm sure I've read that it had to be given within 90 days of the hearing, which would be this week.

 

If it is, and say we owe nothing, what would happen if other bidders emerged from the woodwork, or if Whyte decided he could manage it himself?

 

Alternatively, if it went against us big time, is that going to give D&P another reason to delay the process?

[Frankie 8,173]

Decision should be imminent but the result could go either way and be appealed.

 

All indications point to HMRC not opposing a CVA though but only if Whyte is not involved. That remains uncertain also.

[bigy 0]

Thanks Frankie, do you know what information the bidders have been given on this.

 

Given it's a tribunal, and judges who make the decision, i'm not sure an appeal is automatic as if the decision is fairly clear on a point of law then there may not be any grounds. For example, if the best case scenario arises, and the decision is EBT's were legal at the time and no evidence has been presented which suggests we broke the rules, then what would the appeal be based on?

 

As a pure guess, I reckon it'll only affect the rate at which HMRC are likely to settle on a CVA.

[Frankie 8,173]

No idea what info bidders have but Id fancy each will have planned for different outcomes.

 

I agree an appeal is unlikely but it could happen.

[Zappa 0]

When he put us into administration Swiss Tony said HMRC would just "appeal, appeal, appeal" the big tax case.

[GovanAllan 0]

When he put us into administration Swiss Tony said HMRC would just "appeal, appeal, appeal" the big tax case.

 

Swiss Tony, actually laughed out loud at that one quality mate.

[der Berliner 3,271]

When he put us into administration Swiss Tony said HMRC would just "appeal, appeal, appeal" the big tax case.

 

That was because he felt that HMRC share a really mean dislike for him, not exactly us. We do not know how the talks with the admins and HMRC went with regard to the big case and possible appeals.

[Ergatrude 0]

That was because he felt that HMRC share a really mean dislike for him, not exactly us. We do not know how the talks with the admins and HMRC went with regard to the big case and possible appeals.

 

At the time I thought he was referring to HMRC making an example of us.. what he actually meant was "Aye, these fuckers wont do me any favours.. I just bumped another £9m from them :flipa:"

[der Berliner 3,271]

It all is pretty murky, as he had claimed that he spoke to HMRC all year long, even before owning them these full 9m (which are, of course, a total owed after about one year in charge ... though you do wonder why HMRC did not go after him after the first couple of unpaid bills). Well, let's hope the judges get their act together and one variable goes out of the window.

[GovanAllan 0]

If HMRC have stated they would be onside with a CVA then I don't see why this should hold up getting the takeover started.