Rangers FC settle £300,000 damages claim with former director Donald McIntyre

[khan 0]

According to our chairman past it certainly was a surprise.

 

He said: "Our numbers today would be £2.8m better today if it wasn't for the fact we had to take this charge.

 

"As the Americans say this one came from left-field. And if you can see my teeth gritting a little more then you will know it is really frustrating because no one knew about it a couple of months ago.

 

"And let me put on record that if we had known about it we would have had to put it in our annual report and taken a liability in the accounts."

[forlanssister 3,114]

Did one of the tax liabilities not only get found when Whyte went through due diligence ? If so then McIntyre is most certainly responsible for that.

 

That Whyte discoverd the "wee tax bill" is a myth, it only arose during the time Whyte was doing due diligence because Aberdeen Asset Management lost a FTT in November 2010 and now they're appealing to an UTT, so ironically enough we may end up not owing anything for the "wee tax bill"!.

[khan 0]

Strange that you would agree the tax bill is payable, pay £500,000 towards it, yet may end up not owing anything wouldn't you say ?

[BrahimHemdani 1]

How about the club being in the financial state it is, alleged mismanagement of EBT's and the small tax bill, is that enough to be going on with, he may be an accountant the evidence suggests a very incompetent one, unless of course you think he was the tea boy rather than a finance director.

 

McIntyre was not responsible for either of these issues and it is certainly not evidence of his competence or otherwise.

[BrahimHemdani 1]

So why didn't he do anything about them, and if he didn't know what was going on it makes him as incompetent and culpable as bain and murray.

 

This is a ludicrous statement. What exactly was he supposed to do about issues that pre-dated his involvement and/or were not known at the time?

 

I will stand to be corrected but I think that the EBT issue also pre-dates Bain's appointment as CEO but in any event I am in no doubt that Rangers would have obtained the advice of tax lawyers at the time about what appears to have been fairly common practice. The fact that HMRC are challenging it now, does not make those who took the decisions at the time, incompetent; provided that they took and acted upon appropriate advice.

[Zappa 0]

I will stand to be corrected but I think that the EBT issue also pre-dates Bain's appointment as CEO but in any event I am in no doubt that Rangers would have obtained the advice of tax lawyers at the time about what appears to have been fairly common practice.

 

The EBTs were started during the Advocaat era. It's no coincidence that Murray started those at a time when Dick was spending money like the world was about to end and plummeting the club into massive debt.

[forlanssister 3,114]

Strange that you would agree the tax bill is payable, pay £500,000 towards it, yet may end up not owing anything wouldn't you say ?

 

I find it strange Whyte would tell me (as a shareholder) in writing that he would settle it in full then renege on that commitment, but then Craig Whyte doesn't give a flying f*&k about me or any of the other 26,000 shareholders.

 

Had it been paid and then AAM won their appeal to the UTT it would have repaid in full + interest, believe it or not it's not that strange an event in the world of taxation where some disputes take decades to settle.

[BrahimHemdani 1]

The EBTs were started during the Advocaat era. It's no coincidence that Murray started those at a time when Dick was spending money like the world was about to end and plummeting the club into massive debt.

 

Thanks for reminding me and was not a certain Mr Ronald de Boer not one of the prime beneficiaries? What price Advocaat or those payer's lawyers/agents suggested it?

[Zappa 0]

Thanks for reminding me and was not a certain Mr Ronald de Boer not one of the prime beneficiaries? What price Advocaat or those payer's lawyers/agents suggested it?

 

I'd say there's a pretty good chance that Advocaat will have went to Murray with the EBT idea as a way of convincing Murray to let him keep spending money in the transfer market.

Edited December 10, 2011 by Zappa

[BrahimHemdani 1]

I'd say there's a pretty good chance that Advocaat will have went to Murray with the EBT idea as a way of convincing Murray to let him keep spending money in the transfer market.

 

Sounds plausible to me.