rbr

That is a completly seperate issue and in effect would lead to SDM basically having to come back , my point is that Ticketus have no claim on their money once we go into administration , what Whyte did with it is bye the bye in that regard

The sooner the better , however as long as HMRC do not win this we will be in a much better / stronger place , HMRC are basically screwed if they lose this , and I,m not downplaying how serious this is , but HMRC to get anything must get their own administrator in .

Craig why do we owe Ticketus anything , they were secured against another company not Rangers , they just become another creditor

At this moment Bluedell who knows . any except an HMRC one . On a side note am I correct re the Ticketus money

If you knew that a company you were in charge of was going to go into adm,inistration , not one person in their right mind would pay the VAT , PAYE or NIC , why would they , it is all going to get thrown into the pot anyway , supporters cannot remove their hearts feelings winning over their heads . The ticketus money for example , thats gone but will have no bearing on a new Rangers or rather posr administration , Ticketus now becomes another creditor in a long line , the season ticket money from next year is ours , JJB that deal also is finished etc etc , it is important that we get the administrator we / Whyte wants , or it will get nasty

I just wish our previous board had spent as much time , effort and worry when in plave ie EBT'S , as they are doing now . I fear the bun fight of all bun fight's is just about to happen , , the next massive date will also be the 31st March , if the accounts aint signed off then its years in the wilderness I'm afraid

This has SDM,s mark all over it . Surely he cannot return .

The day before the window shut

Before I post this , Frankie knows who my source is in these matters , Jelavic DID PERSONALLY tell CW and Ally that he wanted away , both CW and Ally also told a reporter this , seperately . Why McCoist is now back tracking I have no idea but my confidence and respect for him has now all but gone , he also has the lurgan bigot hanging out of him on a regular basis yet the best he can do is " keep your nose out of it neil " an absolute joke . Also and as an aside , Jelavic's agent tried to get more money out of us by refusing to sign the contract with Everton , hence the " he's away back to the hotel to get a shower" line , CW told him , " fine put him in the car and bring him back " , needless to say he signed as he stated he wanted to do . I understand people not trusting CW but the amount of rubbish that is getting written and swallowed whole by our support is just staggering

Bluedell , I bow to your greater financial knowledge , but when they had their last share option the money raised was meant to be split 50/50 between debt and Lennoxtown . The building of Lennoxtown was delayed by 1 year and all that money went into the debt reduction , when the training facility was built a question of finance was raised at their AGM as to where the money came from , that question was never answered even though the shareholder has followed it up relentlessly over the years he is not given an answer. Just seems a strange one .

It all depends on what position the club are in when the new season begins , if we win the HMRC case , if we lose and are in administration , if we are out of administration , there are too many variables to even start consider making long term plans , basically we are operating on a week to week basis , or as commonly known , by the seat of our pants

They have taken out a mortage on Lennoxtown , we can only wonder why as the money was raised by a share issue , ooops sorry they used the share issue money to reduce their debt , Lennoxtown was paid for by D Desmond

IT's not only us in the grubber for money http://www.scribd.com/doc/58478083/Celtic-Mortgage-10-06-11#ad_unit=Doc_

There seems to be a lot of debate over the HMRC claim post thetax case (if they win ) this 75% ruling to block a cva is mentioned , but we also know that CW is owed circa £18 million plus what ever management fees etc he has ramped up , we have mortaged off season ticket money and income from catering , I dont know what the scenario is with players wages , given in the past players must be paid , I would seriously doubt whether the HMRC amount would stand up to the 75% ruling

The RTC crackpots have been saying this since , november , sorry december , nope January , ok definetly february , I definetly dont buy this given that we are signing players on contracts

But why sell Jelavic if administration/liquidation are possible depending upon the outcome of the HMRC case , it just means that anymoney goes straight to the administrator

I really dont know if our midfiield are up to creating enough chances for him , he aint exactly the most mobile , not the best at holding play up , too much a gamble

Zappa , what you posted above was used word for word by the Rangerstaxcase nutters as having indepth working knowledge of how our EBT was used, only they changed some of the words from family members to players. Bluedell , C W has publicly stated that he cannot deal with HMRC , also it is in the takeover circular that MIH is dealing directly with HMRC , thats why they are paying the QC

Again chilledbear thats another question that needs answered , no where has the MIH groups possible liability ever been talked about band if they are not liable for a single £ then who made the decision to use/change the EBT model from evasion to avoidance

As the sun slowly drops over the horizon and the beginning of the end , or should that be the end of the beginning approaches , I thought it might be apt to go ovger what we know , think we know or even just guess at what has brought us to this point . The main protaginists are MIH , SDM , Bain , McClelland , AJ ,McIntyre and Grant Thornton as the auditors . Now what we know is that some where around the start of 2000 as the Advocatt era was in full throw , someone within MIH thought it apt to use the EBT scheme that they were using to help offset the wages of the foreign legions that were being brought in by both Advocatt and SDM, ( please bear with me on this because I have first hand knowledge that a lot of the signings were not the managers ). As the financial hole started to appear , SDM did a runner for the first time and the patsy that was John McClelland was brought in, Advocatt left and Eck was installed , players were sold but amazingly championships were won . SDM reappeared , for a short space in time , Bain was appointed CEO , McIntyre as Chief Financial officer and the auditors who were quite happily signing off the accounts with no caviats were G T . Eck finally gets found out/fed up even after the charlotan in Charlotte Sq promises signings and minty moonbeams , PLG arrives and quickly departs , SDM calls for Walter to bail him out . Things do not improve financially ( in the long term )even after the Murray/MIH bail out , and though we get the debt down to approx £5 million , the season after the glorious run to Manchester , we get pumped out of europe yet again and SDM does what he always does when the critiscism gets too hot , he paniced and allowed Walter to spend massively on players causing the debt to rocket yet again , LLoyds eventually get fed up and remove SDM with another patsy in AJ taking the helm . Around this time HMRC start sniffing around the MIH pension and renumeration trust and low and behold after shaking the tree we fall out , now these EBT have been in operation for years but some bright spark decides to (so the story goes ) issue players with 2 contracts ( again bear with me on this )stating they dont need to pay tax on the second contract . Fast forward to last April /May , Craig Whyte eventually agrees to buy the club for £1 , even after the independent club committee goes against him , ( though several of these same board members wanted to but the club but also increase the debt ), CW also to many peoples amazement agrees to become liable to pay the entire tax bill should we lose ( or should I say the club and not SDM would be liable for the tax bill ). Now to the present , we also know that the QC is being paid for by MIH , we also know that MIH only can make any deals with HMRC , we also know that the tax enquiry does not just include Rangers but the entire MIH group that is covered by the pension and renumeration trust but that same groups liability has never been disclosed . Now all of the figures I mentioned earlier including Paul Murray , Dave King and John Greig have sat on the Rangers board for years yet no one spoke out about the dangers of these contracts , the auditors , who at present are refusing to sign of on the accounts are the same auditors who for nearly 10 years gave the same accounts a clean bill of health. Questions need asked and answered , who initially came forward with the EBT scheme , was it altered from the MIH model and if so by whom , when did it become apparent there was a problem and why did the EBT,s continue to be used , and if we lose will criminal charges be laid at the door of anyone . Lastly if we do go into administration/liquidation the fall out will last for years , the European Financial fair play rules will cripple us for at least 3 years , as for what will happen domestically will depend on the increasing influence that Lawell has over the ever bumbling Regan. Please feel free to add your own thoughts or point out any glaring mistakes I have made .

I happen to agree with Frankie on this especially on the MIH involvement as this is what started the investigation , what has always amazed me is that the amount required of MIH has never been leaked , now the question needs asked who benefits from all this secrecy , who,s name is never mentioned , and who is always been rumoured to be pulling the strings in the back ground

The only problem there is that we havent won any yet , all we have done is incur legal costs on top of paying what we owe , the BBC have yet to be served legal papers over the documentary and the playing squad is wafer thin , but hey I love the optimism

yes but surely it was Nike that made the money not septic , plus all increases in foreign tv revenue are pooled

After this summers debacle in the transfer market you would have thought Ally would have learned his lesson, but no there he goes again ," I really like ************ (insert any number of names " , honestly its getting a bit boring