Zappa 0 Posted June 5, 2011 Share Posted June 5, 2011 I think it's just the construction of the articles on the tax case site. They seem to claim that they've got the latest scoops when all they're actually doing is trying to plant seeds of doubt into the minds of Rangers fans. Don't get me wrong, some of the research is interesting, but so far it's just a blog about Rangers run by someone who can't articulate. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted June 5, 2011 Author Share Posted June 5, 2011 There are loads of speculation by people who want to damage Rangers. There are also Facts which need explaining. Hopefully tomorrow. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted June 5, 2011 Author Share Posted June 5, 2011 If those who know about finance see this, can they comment Secondly we didn't use a first class firm of accountants, we used a firm called Solutions @ Fiscal Innovations, part of a firm called HLB Kidsons Impey. Both firms no longer exist, SAFI went bust nearly a decade ago and Kidsons Impey lost a massive insurance case on other tax schemes and was forced to "merge" with Baker Tilly. We have no recourse against either company therefore 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,408 Posted June 6, 2011 Share Posted June 6, 2011 In 1999 club assets including future season ticket revenue were used as security for bank funding. On 26 May last Companies House was formally told that revenue from some of our season tickets ( numbers range from 23,000 and 27,000 dependant on the season) had been removed from that undertaking. Periods involved are season 2011 - 2012 thru' season 2014 - 2015. http://rangerstaxcase.files.wordpress.com/2011/06/mg05s-june2011.pdf It's not like McGillivan to get something wrong. The bank has had a floating charge for a number of years, as detailed in the accounts "The Bank of Scotland plc has a floating charge and guarantees from each Group company on account of each other in respect of the loans and the overdraft." Most of this has now been released, given that most of the debt with Lloyds has now been cleared as would be expected. A portion of the floating charge (season ticket money) remains, presumably to cover working capital requirements if we still bank with them and/or to cover the lease that exists. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted June 6, 2011 Author Share Posted June 6, 2011 Hoping it was something like this. 0 Quote Link to post Share on other sites More sharing options...
rover 0 Posted June 6, 2011 Share Posted June 6, 2011 (edited) Wasn't Mr Whyte to have used personal or clear funds for the takeover, there was also a comment about ring-fencing season ticket revenue by the previous owner, as not being the case or applicable. Something does not add up here, not only the figures. http://news.bbc.co.uk/sport2/hi/football/teams/r/rangers/8654665.stm http://tinyurl.com/3mzt2t7 Edited June 6, 2011 by rover 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted June 6, 2011 Author Share Posted June 6, 2011 The Postie been yet ? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,408 Posted June 6, 2011 Share Posted June 6, 2011 The Postie been yet ? The timetable was that the circular would be posted by 6th, so expect it to arrive over the next few days, as I'd guess it'll be posted out second class. However hopefully something will be issued on the Plus markets site later today. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,408 Posted June 6, 2011 Share Posted June 6, 2011 I've reread the form and am now unclear about what exactly has been released. The wording is ambiguous. However the bottom line is that something has been released which means that there is less of a floating charge than there was before. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,218 Posted June 6, 2011 Share Posted June 6, 2011 Straw clutching IMO from our financially-challenged friends but as ever we just don't know until Whyte et al supply the clarity. 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.