Walter Smith 100% Correct

[Bears 0]

I would say the blame lies 50/50 just now between Craig Whyte and David Murray:

 

Craig Whyte by the sounds of it paid hardly any bills or allowed any bills to be paid during his stewardship of Rangers if they were paid it was usually only on the steps of the court!!! CW spoke about a 10 million pound shortfall in the finances of Rangers. So what did he do he ran up more debts gave Davis, Whittaker and McGregor bumper new deals. He bought Wallace from Hearts. Made a crazy deal "IMO" with Ticketus which in truth at the moment is the thing that has really f***ed us I think. Never paid HMRC etc.. That shortfall was there before Whyte took over he must've known about it or his accountants must have known about it. But instead it was all 5 millions war chests for transfers and all the rest of it. If Whyte had been honest from the start and told the fans we don't have money we are going to have to cut back Paid HMRC what they were due etc.. I think fans would have understood and supported the team and Whyte throughout it all why we sorted ourselves out. But there is more chance of Elvis making a comeback than Craig Whyte being honest.

 

Which is why the rest of the fault lies with Murray and the previous board they should have done proper due dilligence on this man. Find out is he a “billionaire” or is he full of shit. It almost seems as if they couldn't wait to get rid of Rangers

 

I thought Walter Smith gave an excellent interview as ever and agree with everything he said

 

Good post.

 

CW has been calculated and knows what he’s doing, it’s the nastyness of it that i despise more than anything................i’ll leave it at that

[Juancornetto 1]

Of course Murray couldn't wait to get rid of the shares...he had the BTC looming and the bank putting pressure on him to pay back their debt. Whyte spotted an opportunity and went for it.

 

I don't think it's gone according to plan for Whyte. His attitude now is more driven by the hostile media and fans than by any kind of exit strategy and by that I mean that he had planned administration from day one and his end game would have been to be the one left holding the baby at the end. A debt free business with a huge turnover and the chance of making a profit. I'm not saying I think he's in any way right because what he's done is systematically destroy our reputation and caused us to be facing draconian sanctions from the SFA.

[Bluedell 5,953]

Frankie, i'm no businessman but surely there was an accountant doing the books? I doubt CW was doing them himself? With the monies involved at Ibrox i'm sure there's more than one at Ibrox. He must have instructed someone,"don't pay the tax or NI on anything"????

 

There must be a few squeaky bums in the accounts department? Surely the police, fraud squad or who ever looks at that side of things from the Government must be looking these people out? They can't be hard to find?

 

Edit= i've tweeted david Hiller asking the same thing

 

There will be accounts staff in the club but they can't do anything if a director refuses to sign the cheques. I don't see that they would have anything to worry about.

[Bears 0]

There will be accounts staff in the club but they can't do anything if a director refuses to sign the cheques. I don't see that they would have anything to worry about.

 

Cheers Dell, as i say, this stuff is alien to me, i’ve not paid any tax for over a decade................LEGALLY

[calscot 0]

The problem with the BTC is that (although this is according to CW) HMRC said they if they lost they would appeal, appeal and appeal again. So although the tax bill was only "potentially" there, HMRC would have made it impossible for Rangers to trade normally for years and then could still be hit with an even bigger bill.

 

The only way out of the tax hole seems to be cutting a deal with HMRC or going into administration and putting massive pressure for a CVA or liquidating and starting a newco with no tax liability.

 

That is why the only taker from SDM was CW and now we have potentially six interested parties.

 

HMRC wouldn't deal and so CW had no recourse but to go for administration. In that scenario, why would he want to invest any of his own money? I believe he wanted to delay administration until the case was due to give a verdict and that's why he used the tax money. However, HMRC called his hand earlier than he expected but the result is pretty much the same - especially as the tax verdict has still not been given.

 

So what would have happened had CW not taken over? Would we really have avoided administration? Maybe this season but how about the next? What if we lose the tax case and receive a £75m bill? How would we have paid it?

 

It seems to me that because of the EBT's combined with the intractable actions and aims of HMRC, administration was absolutely necessary for us to survive but only one person was willing to take the flack for that - and I think he'll want quite a few million for his trouble and strife.

 

The fact is that we wouldn't even be having this debate if it wasn't for the EBT's. The most likely scenario would be TWKs taking us over by borrowing a load of money and then floating a share issue. We'd probably still be about £18m in debt but stable with new owners who would have acquired the club for a song.

[djbroxybear 0]

A lot of people blame SDM for this, when the reality is Whyte's illegal activities with PAYE forced this. SDM isn't innocent, but administration was forced by Whyte. We didn't have to end up in this position.

 

We were heading this way under Slippery Dave to Administration he got someone in Whyte to take his shareholding off him for £1 and save MIH going down the pan. What whyte has done is despicable but no way was Murray "Duped ffs" what an insult to the Rangers fans ask yourself how did Whyte get the ticketus funding 28 days prior to taking over the club with Muir there still in charge calling the shots for Lloyds bank. Alot of dodgy unanswered questions which will all come out in the wash it will be interesting when the truth comes out.

[der Berliner 4,064]

I will ask the same question that I asked the day after we went into admin: why was he allowed to get away with not paying PAYE and VAT for a time necessary to make it a 9m bill. If you or someone else fails to do this, you get a couple of letters within a fortnight or two, ere something more "interesting" happens by from a court.

[djbroxybear 0]

I will ask the same question that I asked the day after we went into admin: why was he allowed to get away with not paying PAYE and VAT for a time necessary to make it a 9m bill. If you or someone else fails to do this, you get a couple of letters within a fortnight or two, ere something more "interesting" happens by from a court.

 

I have had this same debate something doesn't add up.