Rangers are Rocking; Scottys Financial insight inside.

[RenfrewBlue]

31 minutes ago, Mitre said:

The CSKA result didn't matter in the end due to Marseilles winning in Bruges.

Is that right? Jesus my memory is getting worse. ?

[RenfrewBlue]

14 minutes ago, slasher said:

Irony alert. ?

Irony - the expression of one's meaning by using language that normally signifies the opposite, typically for humorous or emphatic effect.

Thought I'd help you out since you don't seem to get it. ? 

[Orraloon]

1 hour ago, RenfrewBlue said:

Is that right? Jesus my memory is getting worse. ?

You're main point still stands though as Marseilles didn't rob you of anything. They beat you fair and square. Even though both games were draws . They didn't cheat in the Champions League (well, so they say) and weren't stripped of that title. They were stripped of the French League title and relegated because that is the competition they cheated in.

[RenfrewBlue]

5 minutes ago, Orraloon said:

You're main point still stands though as Marseilles didn't rob you of anything. They beat you fair and square. Even though both games were draws . They didn't cheat in the Champions League (well, so they say) and weren't stripped of that title. They were stripped of the French League title and relegated because that is the competition they cheated in.

I think folk tried insinuating that their 6-0 win vs Moscow was dodgy but having been at the Rangers games against both teams Marseille were more than capable of pumping them. 

We were lucky to get the 2-2 at Ibrox but probably should have won over there. To be perfectly honest they were the best team in our group. 

[slasher]

3 hours ago, RenfrewBlue said:

Irony - the expression of one's meaning by using language that normally signifies the opposite, typically for humorous or emphatic effect.

Thought I'd help you out since you don't seem to get it. ? 

A hun explaining irony ???

[Scotty CTA]

6 hours ago, RenfrewBlue said:

You said humanity...

Correct. I said 'humanity' in the first example.

6 hours ago, RenfrewBlue said:

 I called you out as talking keech...

Only because you couldn't understand me 'exaggerating for effect'. (I wasn't being literal.)

6 hours ago, RenfrewBlue said:

...and THEN you changed it to society...

I didn't change anything.

I added a second example in an attempt to show you the real victims of not paying tax... society.

6 hours ago, RenfrewBlue said:

Whether Rangers were entitled to a deal or not...

They weren't.

6 hours ago, RenfrewBlue said:

...one was done. 

A secret, sneeky, shady one.

6 hours ago, RenfrewBlue said:

Therefore a precedent was set and assumptions and rules made. 

The fans not being given the chance to put pressure on their own clubs (cause we all know what happened last time!) has further compounded the problem.

 

[RenfrewBlue]

1 hour ago, slasher said:

A hun explaining irony ???

Well spotted. 

And that was sarcasm. I know the lot me. ? 

[RenfrewBlue]

1 hour ago, Scotty CTA said:

Correct. I said 'humanity' in the first example.

Only because you couldn't understand me 'exaggerating for effect'. (I wasn't being literal.)

I didn't change anything.

I added a second example in an attempt to show you the real victims of not paying tax... society.

They weren't.

A secret, sneeky, shady one.

The fans not being given the chance to put pressure on their own clubs (cause we all know what happened last time!) has further compounded the problem.

 

I understood your example, its just that it was laughable. 

You didn't add a 2nd example, you just changed it and pretended you'd said that in the first place. 

If the deal was so sneaky how come we all know about it? 

And the fans were given time to lobby as you well know. But keep rewriting history all you like. It's not unusual with serial complainers. 

[Scotty CTA]

23 minutes ago, RenfrewBlue said:

I understood your example, its just that it was laughable.  

You didn't. You took it literally when it obviously wasn't.

23 minutes ago, RenfrewBlue said:

You didn't add a 2nd example...

I did (and I made it literal that time since you were struggling to understand the first comparison).

26 minutes ago, RenfrewBlue said:

...you just changed it and pretended you'd said that in the first place. 

Nope.

Exaggerated first comparison, and literal second statement.

I haven't changed anything as the words are still on the screen.

(Go look.)

30 minutes ago, RenfrewBlue said:

If the deal was so sneaky how come we all know about it? 

Page 11, Article 8.1 – "Yes, the Five Way Agreement needed a Non-Disclosure arrangement aside from to say that it existed in the first place and a pre-written statement would be released on it. Stewart Regan must think he’s Tyler Durden." - The Football Life

[RenfrewBlue]

3 hours ago, Scotty CTA said:

You didn't. You took it literally when it obviously wasn't.

I did (and I made it literal that time since you were struggling to understand the first comparison).

Nope.

Exaggerated first comparison, and literal second statement.

I haven't changed anything as the words are still on the screen.

(Go look.)

Page 11, Article 8.1 – "Yes, the Five Way Agreement needed a Non-Disclosure arrangement aside from to say that it existed in the first place and a pre-written statement would be released on it. Stewart Regan must think he’s Tyler Durden." - The Football Life

There's no point continuing this with you. You're denying facts and making nonsense statements and claiming they're fact instead. 

Finally, a legally binding agreement with a NDC in it? Wow! Standard practice in just about every deal ever made. They're in the contracts we have with our service partners at my work and those are for buttons financially and nothing sensitive in their content. 

It obviously hasn't worked though as every Tom, Dick and Harry appears to know the content. 

5 hours ago, Scotty CTA said:

 

[Scotty CTA]

The longer it goes, the worse it gets...

"IN another astonishing turn in the Rangers financial saga both the old company which owned the club and the new one in control are likely to face multi-million pound claims on their assets.

A London firm which buys litigation claims to pursue them through the courts has resurrected the company through which Craig Whyte bought Rangers, and also saved from being struck-off the one which Charles Green used to acquire the club after Whyte’s short and disastrous ownership. Both companies, Wavetower and Sevco 5088, believe they have legitimate claims on both liquidated funds and against the present club.


Henderson & Jones describe themselves as expert litigators and insolvency professionals who purchase legal claims and endeavour to get money back to creditors by pursuing their legal claims. The two principals are Philip Henderson and Gwilym Jones.

On June 20 Henderson & Jones were appointed directors of Wavetower (now renamed The Rangers FC Group). Eight days earlier they had joined the board of Sevco 5088. Wavetower had been struck off by the Registrar of Companies and Sevco was about to be. Less than a fortnight later they had completed the processes to secure both the companies on the register again.

They also joined the board of the associated company which was still trading, Law Financial, which Whyte founded. It holds a security over Sevco. Law, Sevco and Wavetower are ultimately owned by the Worthington Group which is now in liquidation.

Philip Henderson told the Sunday Herald that they were working with Worthington liquidators, Begbies Traynor, to "deal with and evaluate any claims the Worthington subsidiaries might have, or might be made against them. As part of that role we became a director of each of the Worthington subsidiaries".

He added that the company wanted to work with Rangers "oldco" liquidators, the accountancy firm BDO, "to help them get to a position where they can make a distribution to the unsecured creditors".


Whyte bought Rangers for £1 in May 2011 from Sir David Murray. The vehicle he used was Wavetower. A little over a year later, and after Whyte ran out of cash, the Rangers collapse left thousands of unsecured creditors out of pocket, including 6,000 fans who bought £7.7m worth of debenture seats at Ibrox.

Wavetower’s claim is that it is a preferential creditor and should be head of the queue for cash, in front of the tax authorities, in the liquidation. Wavetower, Whyte's then company, inherited a security over assets including Ibrox and Murray Park from Lloyds Banking Group after paying off Rangers £18m debt using future season ticket sales. The security was originally set up in 1999 because of Rangers ballooning debt.

BDO have resisted the claim and in court documents argued that it was based on a fraudulent scheme. However Whyte's acquittal on all charges would appear to bolster Wavetower's entitlement claim.

Last year a judgment by Lord Doherty put off any decision on the rights and wrongs of the claim until the conclusion of Whyte's fraud trial. Unless agreement can be reached this is likely to be tested in yet another Rangers court case.

BDO holds substantial liquidation funds, believed to be in excess of £30m, including £24m from the lawyers Collyer Bristow who acted for Whyte.

BDO will now also pursue more than 80 former players and staff, like Murray and former club captain Barry Ferguson, who benefited from an elaborate tax avoidance scheme – Employee Benefit Trusts, which the Supreme Court ruled were disguised salary payments. The recipients will be forced to pay back millions of pounds to the HMRC through BDO or face bankruptcy. It is believed that the Revenue has recovered more than £1bn from other of those schemes.


Following Whyte's calamitous ownership, in June 2012 Charles Green completed the purchase of Rangers' assets for £5.5m through Sevco 5088. The new Sevco claim will centre on the ownership of Rangers and the transfer of assets, such as the Ibrox ground and the Auchenhowie training complex, by Green to another of his companies, Sevco Scotland, and the substantial upward revaluation of these assets.

Green was later ousted and subsequently replaced by South African businessman Dave King. The company is now called Rangers International Football Club PLC.

In filings at Companies House last month by Sevco 5088, the company claims it has investments of £15,700,000, with just £1 in the bank. In a note to the accounts, the directors state: “The company believes it has been the victim of fraud, and as such, the directors are not satisfied that they have all the accounting records of the company and these financial statements are therefore prepared on the basis of the accounting information that the directors do have.”

One of the signatories is director Aidan Earley. Earley is a discharged bankrupt. In 2014 he was banned for five years from holding a directorship but in an rare move was allowed to remain as a director of Sevco. It is believed that this was connected to his battle over the ownership of Rangers."
 

[Mark frae Crieff]

so it begins..

http://www.eveningtimes.co.uk/news/15429953.Former_Rangers_star_Barry_Ferguson_declared_bankrupt_with_debts_of_more_than___1_4_million

 

[DaveyDenoon]

1 hour ago, Mark frae Crieff said:

so it begins..

http://www.eveningtimes.co.uk/news/15429953.Former_Rangers_star_Barry_Ferguson_declared_bankrupt_with_debts_of_more_than___1_4_million

 

"Ferguson, who lives in a gated mansion near Larkhall, Lanarkshire, has declared that he has only £3,000 worth of assets available to help pay off his creditors."

?????

What a joke. Nothing but a scam in preparation for any attempt to claw back the money owed to HMRC.

Unless a gated mansion really does only fetch £3,000 which i suppose is entirely plausible...

[Squirrelhumper]

2 minutes ago, DaveyDenoon said:

 

Unless a gated mansion really does only fetch £3,000 which i suppose is entirely plausible...

Have you ever been to Larkhall? That's probably an over-valuation.

[ShedTA]

Weebarrysgotanmbe...

and not much else.

[Parklife]

Declaring himself bankrupted to avoid paying what he's due. Utter khunt of a human being, if we didn't know that already. 

I'm sure all assets were transferred elsewhere before debts were crystalised too. 

[ShedTA]

9 minutes ago, Parklife said:

Declaring himself bankrupted to avoid paying what he's due. Utter khunt of a human being, if we didn't know that already. 

I'm sure all assets were transferred elsewhere before debts were crystalised too. 

aye £3000 in assets apparently. hes been working for a while ahead of the SC judgement.

[Fairbairn]

8 minutes ago, ShedTA said:

aye £3000 in assets apparently. hes been working for a while ahead of the SC judgement.

That'll be the Monster Munch he's been stockpiling since 2007.

[Larky Masher]

1 hour ago, DaveyDenoon said:

"Ferguson, who lives in a gated mansion near Larkhall, Lanarkshire, has declared that he has only £3,000 worth of assets available to help pay off his creditors."

?????

What a joke. Nothing but a scam in preparation for any attempt to claw back the money owed to HMRC.

Unless a gated mansion really does only fetch £3,000 which i suppose is entirely plausible...

One would suspect his wife now has significantly more assets than Barry.

[Larky Masher]

1 hour ago, Squirrelhumper said:

Have you ever been to Larkhall? That's probably an over-valuation.

Ahem

http://www.rightmove.co.uk/property-for-sale/property-67324487.html

Edited July 24, 2017 by Larky Masher

[Scotty CTA]

So, does he have to sell the big hoose?

[euan2020]

58 minutes ago, Larky Masher said:

One would suspect his wife now has significantly more assets than Barry.

there is clawback on distributions prior to bankruptcy

but likely back in the day, I bet he has been putting stuff in trust for his kids, and he has life rent of the proprty and stuff like that

he wouldn't get away with giving stuff to wife unless it was say 7 years ago, but the trust stuff would work  - " I think"

[Larky Masher]

8 minutes ago, euan2020 said:

there is clawback on distributions prior to bankruptcy

but likely back in the day, I bet he has been putting stuff in trust for his kids, and he has life rent of the proprty and stuff like that

he wouldn't get away with giving stuff to wife unless it was say 7 years ago, but the trust stuff would work  - " I think"

If he used the same advisors as he did for the film venture then he's f*cked. You'd think that most of those who have luxury of trying a risky investment would reassign assets before they take the risk but based on the number of ex-EPL going bust that hasn't been the case.

[Squirrelhumper]

1 hour ago, Larky Masher said:

Ahem

http://www.rightmove.co.uk/property-for-sale/property-67324487.html

Ha, touché.

There's houses 200 yards away from my seat at RP that go for 400-500k but we all know both Kilmarnock & Larkhall will have areas that pull that average down!

Like this one - http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=12606006&sale=20520071&country=scotland

[Parklife]

A guy who's probably earned over £15 million in his life investing in dodgy schemes to try and pay less than his fair share of tax. 

What a horrible person.