Court of Session rules in favour of HMRC + Rangers Issue Statement

[Frankie 8,562]

I hope you are indeed correct and that I am wrong in that respect.

 

Was just looking more into the situation with MIH and your analysis seems correct.

[Scott7 6,002]

I see from the summary of the judgement that the learned judges have invoked a rarely used principal of the law of Scotland, namely the "common sense" rule.

[aweebluesoandso 290]

Need to wait till 12.00 for the full Judges decision here, they might further rule that allows MIH to appeal to the Supreme Court?

[Bluedell 5,624]

I see from the summary of the judgement that the learned judges have invoked a rarely used principal of the law of Scotland, namely the "common sense" rule.

 

It's been used quite a bit recently, including a case that I'm involved in. The problem (for me) is that the supreme court don't take the same attitude.

[calscot 0]

I see from the summary of the judgement that the learned judges have invoked a rarely used principal of the law of Scotland, namely the "common sense" rule.

 

HMRC seem to have broken that rule in spades...

[Bluedell 5,624]

The fly in the ointment being that MIH is being liquidated and I think it's fair to say Lloyds the main creditor won't fund any appeal which effectively means it would be up to OldCo (for all intents and purposes BDO) to fund any further action.

 

I can't see why Oldco/BDO would want to fund any action. BDO shouldn't care who the creditors are. It's just their job to make payouts to those identified, and HMRC are now included.

 

I can't see who is going to appeal this.

[calscot 0]

I can't see why Oldco/BDO would want to fund any action. BDO shouldn't care who the creditors are. It's just their job to make payouts to those identified, and HMRC are now included.

 

I can't see who is going to appeal this.

 

Good use of the RFFF?

[BlueMazza 0]

Good use of the RFFF?

 

 

Not unless they make payment to creditors outwith putting the money in OldCo. As it stands, if HMRC are included in creditors, many others will not see much, if anything at all.

[Scott7 6,002]

No. Better to spend the money on Rangers.

[Bluedell 5,624]

Good use of the RFFF?

 

A better use of the RFFF may be dealing with the footballing-related fall-out that may come from this decision.