Rangers appointing an Administrator.

[russell]

Wonder if Rangers will have all the titles they won on the back of cheating on their taxes, revoked?

[russell]

"BREAKING NEWS: Glasgow Rangers given 3.30pm deadline to appoint an administrator. "

[jmo21]

Its not so much assurances about the loans it's that the payments were contractural rather than discretionary thus negating the use of the trust.

that's what I said

[geoff from contracta IOM]

The story is that Rangers gave the players assurances in the form of a letter/contract they would not have to pay the EBT loans back, essentially rendering the EBT's incorrectly used, and effectively illegal.

They have charged Rangers with avoiding the tax/ni on what is then considered salary, eith fines etc on top.

As I said , nothing to do with assurances about not having to pay the loans back everything to do with the implied obligation of the trustees to advance the loans in the first place.

[TheBigD]

Yeah, why would a businessman look out for his own interest, it's totally unheard of!!!

I suspect his point was more to do with HMRC not being a preferential creditor. I think this is specific to football clubs, where HMRC are treated the same as any other unsecured creditor (I may be wrong though.)

[geoff from contracta IOM]

I suspect his point was more to do with HMRC not being a preferential creditor. I think this is specific to football clubs, where HMRC are treated the same as any other unsecured creditor (I may be wrong though.)

I personally thought it was the case that HMRC won't become a creditor until the tribunal ruling thus giving the Mr Whyte the driving seat for a pre pack if he does it before the ruling ?

[AtW]

"BREAKING NEWS: Glasgow Rangers given 3.30pm deadline to appoint an administrator. "

[jmo21]

As I said , nothing to do with assurances about not having to pay the loans back everything to do with the implied obligation of the trustees to advance the loans in the first place.

I was being facetious, the ACTUAL reason has NOT yet been published.

Either way, if true, Rangers made a cats tit of using EBT's.

[geoff from contracta IOM]

I was being facetious, the ACTUAL reason has NOT yet been published.

Either way, if true, Rangers made a cats tit of using EBT's.

Sorry jmo and yes they obviously missed the induction class

[Cliphead]

Officially in administration;

BBC News - Rangers Football Club enters administration

10 points deducted...