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Alistair Johnston to begin insolvency case against Rangers


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This is to be taken with a HUGE pinch of salt lads.

 

I run a fairly busy Facebook Rangers page, there are a few guys on there that do have their ear to the ground and when they say something it normally comes true.

 

One lads, whom i do trust sent me a private message saying this thursday the tax case decision will be delivered. He knows someone that is a friend with CW (i believe him) and when talking to CW about the tax case and the outcome CW basically says,"everything will be alright" with a huge grin on his face.

 

I know that the lads on this page are a lot more "mature" then your ave RFC message board, so i have made this post knowing fine well all of you WILL take it with the same size of pinch of salt i have (to be fair, the lad that told me said he is too) but i thought i'd throw that out there for the reason someone else on here might have been told something similar these last few days?

 

I have spoken to a couple of people who have had separate meetings with Whyte in the past week and that is definitely not the impression that they got.

 

However I guess one has to ask, was Whyte taking about the club or himself when he said "everything will be alright"?

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If the ticketus money has been used to pay the bank debt, where does this leave Rangers?

 

What happens to the shares CW bought from DM?

 

CW must have given Ticketus some collateral in case everything went tits-up, Ibrox, Auchenhowie?

 

He said the ticketus monies were secured by one of his companies.

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While people will come up with "he may have lied", it sure can be verified: Whyte has only this week (again) stated that the Ticketus deal was done AFTER the take-over, so how on Earth should he have used that money to pay the bank? For as I am/was aware, Lloyds was paid as part of the take-over, not afterwards.

 

From today's RST summary of their meeting with the chairman:

There was then some discussion about the financial transactions around the borrowings from Ticketus against season ticket revenue. The Chairman confirmed the borrowing was over a three-year period and was secured against one of his companies and not Rangers Football Club. He stated that all monies were lodged and transacted through the Club’s bank accounts – that included the £18m from him to clear the previous Bank debt, the Ticketus borrowings and the working capital available as part of the Takeover Agreement. In response to questions about the level of borrowing from Ticketus, the Chairman explained that it would be extremely difficult to borrow from any Bank at present and it was necessary to meet the running costs of around £3.5m per month.

 

Cannot see any benelovent motive in this action by the former chairman. At least right now.

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Why would HMRC have ... and show confidental company information to someone like Paul Murray? I can give me the answer to "why", but not to "show". If so, you'd have to ask serious questions about HMRC's information processing. For AFAIK, Murray is just a normal person with no special right to see our documents, or those of Celtic, Arsenal or whatnot.

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