Zappa 0 Posted March 23, 2012 Share Posted March 23, 2012 What we desperatly need now is the EBT verdict Absolutely rbr. With the Ticketus situation still pretty uncertain and the numerous other uncertainties, it's vital that we get the EBT case verdict ASAP. 0 Quote Link to post Share on other sites More sharing options...
biggordy 0 Posted March 23, 2012 Share Posted March 23, 2012 What is the hold up with hmrc ? Something like this perhaps ? Surely not ! http://hmrcisshite.blogspot.co.uk/2012/03/joint-statement-on-p35-fines.html 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted March 23, 2012 Share Posted March 23, 2012 What is the hold up with hmrc ?Something like this perhaps ? Surely not ! http://hmrcisshite.blogspot.co.uk/2012/03/joint-statement-on-p35-fines.html Oh, the irony! 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted March 24, 2012 Share Posted March 24, 2012 I find this revelation the most worrying It had been understood Ticketus paid £24.4m in the season-ticket deal. Court documents have now shown Rangers owner Craig Whyte received more than £20m plus VAT in May last year as previously stated, for season tickets over three years. Rangers then sold tickets from another season - 2014-15 - receiving more than £5m on or about 21 September. With VAT added, the total payments Rangers received under Whyte were £30.5m. I am not a lawyer but given the judgement, if I was D&P I would be telling Ticketus at best (a) join the queue, OR at worst (b) "It is clear from the judgement that, as administrators, we have the statutory right and powers to have the company (the Club) refuse to honour the arrangements with you and that is our decision, since this would be in the best interests of creditors generally" as per their statement. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted March 24, 2012 Share Posted March 24, 2012 I find this revelation the most worrying I am not a lawyer but given the judgement, if I was D&P I would be telling Ticketus at best (a) join the queue, OR at worst (b) "It is clear from the judgement that, as administrators, we have the statutory right and powers to have the company (the Club) refuse to honour the arrangements with you and that is our decision, since this would be in the best interests of creditors generally" as per their statement. And Ticketus have the right to challenge the decision of the administrators via the courts which of course will take time the one commodity that is even scarcer than money round Ibrox way. I'm not convinced that we would not be able to have the Ticketus deal rendered void but we'd be liquidated by the time it would take to get a definitive decision after both parties have exhausted all the legal avenues open to them. Sometimes the best medicine leaves the sourest taste in the mouth. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted March 24, 2012 Share Posted March 24, 2012 And Ticketus have the right to challenge the decision of the administrators via the courts which of course will take time the one commodity that is even scarcer than money round Ibrox way. I'm not convinced that we would not be able to have the Ticketus deal rendered void but we'd be liquidated by the time it would take to get a definitive decision after both parties have exhausted all the legal avenues open to them. Sometimes the best medicine leaves the sourest taste in the mouth. OK that's a fair point of view, not one I agree with but then I'm well known as a persistent bastard! But if they are at best ordinary creditors, surely that renders their participation in the BK deal a great deal less valuable and wouldn't that mean that the administrators would be a lot less likely to accept their offer? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,820 Posted March 24, 2012 Share Posted March 24, 2012 IMHO, the biggest stumbling block still remains HMRC. Given the outlay Ticketus have made thus far and their will - from what I have read so far - to keep us going, taking them "out of the pot" and only leaving HMRC and others in there would be a decent way forward - should the admins accept the BK bid. "Taking them out" because they are part of the BK consortium. If HMRC does want to make a deal, that would leave the BKs with the "pence in pound"-debt from HMRC and the rest, plus a "virtual debt" to Ticketus. This might be hard to service in the first season after admin, but hopefully not afterwards. What remains to be seen is how the BKs themselves show up, for the club would still require substantial money to run smoothly, i.e. approx. 3m+ per month? Of course, no decision is going to be a final one for Rangers FC. If the BKs struggle once we are out of admin, it could well be that Kennedy takes over and deals with Ticketus himself, rather than in a more "hostile" manner during a bidding war. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted March 24, 2012 Share Posted March 24, 2012 OK that's a fair point of view, not one I agree with but then I'm well known as a persistent bastard! But if they are at best ordinary creditors, surely that renders their participation in the BK deal a great deal less valuable and wouldn't that mean that the administrators would be a lot less likely to accept their offer? I don't think we can say one way or the other till we see the nuts and bolts of any agreement re Blue knights and Ticketus (my main concern is the cost of any deal, I fear the price of agreement may be too high). Ticketus basically have 3 choices to make now, the CVA, liquidation or hope that they can extract more from the Blue Knights than the other two options would allow for (of course it's not beyond the realms of possibility that they can come to an agreement with Brian Kennedy or Club9). I assume removing Ticketus from the CVA would leave the Blue Knights in pole due to any potential CVA pot stretching further with their absence from it. I think the administrators next move will be interesting and should give us a clue as to the state of play. Also I think the administrators will have to show their hand shortly regarding their plan to separate Whyte from his shareholding, will be interesting to see how they plan to achieve that, time for them to stop talking the talk and start walking the walk. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted March 24, 2012 Share Posted March 24, 2012 Also I think the administrators will have to show their hand shortly regarding their plan to separate Whyte from his shareholding You have to wonder why the administrators haven't already started that process given that they've been advertising the club as being for sale for so long now and speaking to bidders. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted March 24, 2012 Share Posted March 24, 2012 I'm not convinced that we would not be able to have the Ticketus deal rendered void but we'd be liquidated by the time it would take to get a definitive decision after both parties have exhausted all the legal avenues open to them. It would be FAR better for the administrators to release all of the high earners at the club than to liquidate the club. 0 Quote Link to post Share on other sites More sharing options...
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