thplinth

22 minutes... hmmm that is 2 x 11. Are the mods Satanists. (Note the lack of a question mark.)

Now this case is a bit weird as the administrators appear to have been in on it and facilitated the fraudulent sale post administration (rather than the directors doing something dodgy). Things could get really complicated for RFC 2012.

If it is determined that the sale of RFC 1899's assets to Green by Duff & Phelps was fraudulent then that transaction could be reversed.(Liquidators are pretty powerful I believe) And BDO would regain ownership of the assets fraudulently sold to Green (5.5m was absurdly cheap). The regained assets would then be sold properly this time to the highest bidder. No cushy deals this time. That would obvioulsy leave RFC 2012 up shit creek. But I do not think BDO can do anything about suspect Green era contracts within RFC 2012. That would be down to RFC 2012 to fight about (if Green goes down).

The contract with Ashley is a rolling 7 year contract I understand. So has King given notice that he wants to terminate it (in seven years from that date) or is it still rolling on? If it is rolling on (and I think it is) then why?

It will have helped but I doubt it is enough.

Hmmm RFC 2012 are in a bit of shit here I would guess. Staff costs are 80% of Revenues and that is before you get to the mysterious Other operating expenses which are 62% of Revenues. That 10m gap between Revenues and expenses is huge. I cant see how King can close it anytime soon, And yet again there is zero transparency on what the operating expenses are to get so high. Now they have a problem raising money through shares (at least for now) and they cannot get a bank loan. Either King has managed to squeeze receivables hard or someone has been lending more money. They are just going to keep running out of money over and over forcing more loans to be made... I would be worried. edit: if they cannot get out of the other operating expenses (because of contracts) then to avoid bankruptcy they will be forced to slash the player budget. It is the only place big enough to make a difference. But I mean slash. 50%-80% stuff.

Looking at the accounts as at end of June they only had 1m in cash left. That would not have covered two months of losses so I would think someone has been lending them more money since then. But I don't recall any announcements of fresh loans. edit: in the 12 months to end of june RFC was burning over a million quid in cash every month on average. When the accounts closed they had 1m left and no way to do another share issue. It is now 4 month later. They should have run out cash 3 months ago...

Boom Delivering the opinion of the court, Lord Drummond Young said: "That accords with common sense. "If the law were otherwise, an employee could readily avoid tax by redirecting income to members of his family to meet outgoings that he would normally pay: for example to a trust for his wife... or to trustees to pay for his children's education or the outgoings on the family home. "The funds are ultimately derived as consideration for the employee's services, and on that basis they are properly to be considered emoluments or earnings. "We are of opinion that the sums received by the trustee of the Principal Trust, and in due course by the trustees of the sub-trusts, amounted to a mere redirection of income and thus constituted emoluments or earnings of the employees in question." Finally some common sense. Who on here Rangers fan or otherwise would argue that this EBT bollocks was not an utter piss take scheme as operated by RFC 1899? I don't think anyone would. You will lose if you appeal. This ruling was badly overdue.

That would be my guess also. Maybe less sure they will not appeal for some reason but good chance they will not.

Already seen it. Watched an interview with the author on youtube or somewhere a week or two ago. Very interesting. This is also excellent IMHO. He talks to the lab guy guy who processed (or rather took stills and prepared the picture boards of the key frames) and he watched the original zapruder film and he describes what he saw but also then he discovers from the guy interviewing him stuff he did not know... It alone gives you a clear indication of who was involved. Lone gunman, the mafia, cubans etc can organize shit like that. Same with fixing autopsies...

That is not the crux though is it. You could afford to pay it as you paid it. The crux is that you evaded the income tax that was due to HMRC that RFC was obliged to deduct. Instead you (the club) concocted an absurd scheme on the advice of a porn star so they could pay more money as wages with no tax deducted. The more you pay the better the talent you can attract. Look at the sums involved in unpaid taxes, this was a huge advantage for a decade.

Says the guy with 7 posts on page 405 alone. Funny how you are not so chatty now. Should you not be bumping your whore thread round about now?

No need to go that far. Just add an * next to their name on all the trophies won for the offending spell and a footnote down the bottom *Cheated

All the arguments about RFC cheating the league and stealing titles using financial doping were all shelved when RFC 'won'. Well now justice has finally been done and they have rightfully lost. So all those previous arguments are back on, big time.

I read that Dave King was going to get 6m quid back from the liquidators from his 20m quid loan to RFC 1899. I expect that will be vastly reduced now this BTC bill is thrown back into the creditors pot. Hope he was not relying on it for anything...

They had to win. It was blatant tax evasion. Now let's get back to the issue of RFC cheating the league for umpteen years and how they should be stripped of titles for financial doping.

Delusional twat in the hat #####.

Ironic that it is you whining like a to them every day to get you whoring threads re-opened.

Trust me he is shitting all over the board not just on the burds. .

Right now you have the distinct possibility that the current (pun intended), previous and 'the one before that' owners of Rangers all facing being sent to prison. Respect to phart's planetary alignment thread but I think this event is even rarer no? What odds on all 3 being in the clink at the same time?

Gonna off with this rangersmedia shite man. You are a one man mission to lower the tone of this board and I honestly think this place would be far better without this shite (i.e. you)

A near sour green apple with a bit of sharp cheddar.

Bananas as we know them do not exist in the wild. They are hybrids. And they are also mostly all clones. http://www.damninteresting.com/the-unfortunate-sex-life-of-the-banana/

We?! You got a mouse in your pocket Alan?

I am with Kev Umnio this is annoying.