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Leggat-Shadowy Blue Pitch Holdings Stop Rangers Getting SFA Licence


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Their statement clearly indicated amounts weren't the main issue.

 

Like I said, their heads may have been turned if it had been about 50 million and close to paying them back in full but we'd have needed a Sheik type bidder for that.

 

I don't believe that for one minute. Green's CVA proposal was set to leave HMRC getting practically nothing when all they really needed was an offer they could accept without being accused of letting us off lightly. There's no way they needed anything like £50m to accept a CVA, not even a third of that probably.

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TBK's CVA was not in their interests either.

 

no I suspect it was to late for a cva by the end. baring a big offer.

 

but the whole thing was badly handled we turned down a 3.5 million pound offer for naisy that would have boosted the cva. we ran up fees of 5 million.

 

we spent 150k on media house.

 

it was a shambles.

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I don't believe that for one minute. Green's CVA proposal was set to leave HMRC getting practically nothing when all they really needed was an offer they could accept without being accused of letting us off lightly. There's no way they needed anything like £50m to accept a CVA, not even a third of that probably.

Then why in their statement did they talk about wanting a liquidation so they could investigate individuals, letting Rangers make a fresh start etc.

 

They have no reason to lie or pacify us, so why did they not just come out and say they rejected it simply because the amount was too low?

 

I think you're totally wrong Zappa, with the EBT stuff and Craig Whyte not paying PAYE I believe it would have taken something special for them to accept a CVA.

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HMRC could easily have dealt with Rangers before the sale to Whyte. They could have asked for the 23m they thought they were originally owed paid over 12 years. Then it would probably have been paid along with the 13m of paye and vat. The tax payer would have been 36m better off and Rangers would be better off too.

 

There is the question of the penalties and interest but bearing in mind the mitigation that the payments were never hidden as the whole thing was set up by HMRC themselves as a LEGAL tax loophope, the penalties could and should be waived. As for the interest, it would seem reasonable (and I think this applies in the REAL world) that it is not due or calculated until the first demand is made. It's a loan shark strategy to not ask for their money before letting extortionate interest pile up a bit.

 

But in the end the RIGHT thing to do as well as the most LOGICAL would be to have collected the 23m in reasonable time along with the usual tax payments which would then have been paid.

 

The reason it wasn't is that HMRC had another agenda.

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