Rangers: The Sheer Brassneckery Of Administration

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21 Responses

  1. Brian_Damage says:

    Another excellent post Mark. What RFC fans also don’t seem to realise is that even if it was Whyte who orchestrated the no VAT policy, it was the WHOLE of the club who benefitted. How would the players have been paid if they didn’t use that money that should always have been the tax man’s?

    If it is true that Duff & Phelps have continued this no VAT/NIC/PAYE practice then they really must be brought to book. If HMRC agree to this patheic CVA then it’s time for every tax-paying man, woman and business to withhold their tax as well.

    Let’s not forget that HMRC have been quick to issue Hearts and Falkirk with winding-up orders for realtively small tax debts as compared to Rangers.

    The sense of entitlement of Rangers fans is sickening. They have gotten away with it for far too long, but no one appears to have the courage to punish these crooks.

  2. Frank says:

    We live in a great society. Folk can believe what they want….

  3. Tom Cassidy says:

    Hi Mark, great piece. In my opinion the most outrageous aspect of the CVA process is the blatant undervaluation by at least £15.5 million of the real estate (a £4.5 million fiddle cf a valuation by Lambert and Smith of in excess of £20 million three months ago – talking bricks and mortar no fancy adjustments for anything). If Duff and Phelps had given a realistic valuation, then the liquidation column on page 37 of the CVA document would have come to £8 million net (instead of zero) and have easily brought the best deal for creditors. And this isn’t just a management accounts statement, they appear to have actually AGREED with Green to sell Ibrox, Murray Park, the Albion Carpark and all Rangers’ property assets for this £4.5 million in the event of the CVA being rejected by creditors. All creditors are therefore being defrauded by this fraudulent move. Happy to talk you through if you want. Thanks again to 200 percent for getting all this “out there”. Docility rules for the vast majority of other so called journalists’ offerings on the case.

  4. Dave says:

    It’s odd that the Rangers Trust are arguing that there is a legal difference between the actions of someone in a position of responsibility and the liability of the company for their actions if said actions were done in the companies name, even if they were harmful to the company, and even if they were done without reference to others with legitimate interests in the company.

    That’s because there’s clauses in their own governing document saying the same:

    http://www.rangerssupporterstrust.co.uk/rstsite/component/docman/doc_download/32-trust-rules

    They basically say that if someone deals with the Trust and its officers in good faith, if it turns out that those officers were acting without the powers of the body in whose name they acted, then that lack of power is immatrerial.

    It’s a standard busoiness clause, which is there to ensure that the means by which a company exercises its powers are closely safeguarded by the Board and officers, and for the Trust to suddenly decide it is iniquitous to apply it in their case is more than a little hypocritical given the principle suffuses their own arrangements.

  5. Frank says:

    To put things in perspective, countless companies and individuals seek to reduce their tax liabilities. Sometimes the tax authorities object. Take Celtic’s manager Neil Lennon for example….

    http://www.dailymail.co.uk/money/news/article-2153726/High-Court-rejects-100m-claim-tax-schemes-used-sportsmen.html#ixzz1woyBXKGR

  6. Bill says:

    Congratulations on an excellent article. The problem with this administration is that Duff and Phelps are compromised by their obvious links with Craig Whyte. I have read the CVA document and have wondered why the Blue Knights bid was found to be less compelling. The quantum of their bid seems to have involved a real sum rather than a loan sum.

    The more I read about this sorry business the more I begin to wonder why Scotland Yard have not been invited to investigate this company (Duff and Phelps). I don’t believe any thinking person could have any confidence in this administration process and authorities need to step in now to limit the damage.

    This is a high profile administration involving a footballing institution of global significance. The whiff of corruption surrounding the administration is possibly only imagined; however there is no transparency and large sums of taxpayers money are at stake.

  7. Tom Cassidy says:

    Bill, you may think the case has a significance beyond Govan. I couldn’t possibly comment. For anyone interested beyond our shores the faster they are liquidised and whooshed down the sewage pipe the better.

  8. Gordon Wilson says:

    You really all do have an unhealthy obsession with everything Rangers, Catholic upbringing and belonging to the second biggest religion in Scotland maybe?

  9. Tom Cassidy says:

    Gordon, the words “Catholic” and “religion”(neither of which I ever discuss) only appear once on this page – you brought them into it.Not in Mark’s article and as far as I can see not even diagonally referred to by any of the other posters. I enjoyed my time in Scotland, but find Switzerland much better. To do with standard of living and generally better ambiance. Off to count my money. Keep in touch.

  10. Matt says:

    It should now be dawning on everyone that Rangers will most likely start next season in the SPL, not in administration, on zero points and with only a UEFA one year ban to remind them of the last 12 months.

    If the FFT penalty is put within the CVA then it can be reduced by say 95%, changing a bill for 75m into 3.75m at a stroke.

    I get the feeling that HMRC will agree to the CVA and Ticketus will too, while they take Craig Whyte for every penny he personally has, plus his nice castle and that bolt-hole in Monaco.

    This will leave Green able to sell Rangers in the very near future for a considerable profit, he is due his 8.5m back as stated above, and he has even publicly acknowledged that he intends to profit from buying Rangers.

    I wonder if other potential buyers were put off as they didn’t foresee such a fortuitous turn of events?

    I feel for those who are of a righteous indignation persuasion but you are really not going to enjoy the next few months…

  11. Andy Archer says:

    Gordon, speaking as a Rangers fan could you please stop bringing religion into this? It’s not an issue here, check the history books and you’ll find it’s a red herring stoked up by troublemakers and bigots like you. We support a football club in a shambolic state and facing up to reality is the only thing that will get this sorted and we can still have a team to support.

    Can I also point out that not all Rangers fans are blind to whats going on here, not all expectant of better treatment and arrogant in thinking some sort of special case will be made. We just want it all to be clear where the club\team stand and to get to a conclusion, hopefully one that still has a Rangers.

    But please, ditch the religion crap.

  12. Kevin says:

    Gordon your blind biggot rantings have again shown your lack of knowledge. The catholic church in Scotland have larger attendanes than any other and in England more than the c.o.e.

  13. Mike Landers says:

    I suppose we can add Duff and Phelps to a long line of administrators taking over football clubs who are clearly not working for the good of the creditors which – call me naive – I thought was the damned point.

  14. Eve R Bee N'duped says:

    So, ,Gordon Wilson , your deny and deflect stance stance has been seen through buy other posters, Ignoring religion what have you to say on Ranger’s current standing in Scottish or even European football?

    What do YOU think if events at Ibrox over the last 15 months? Is Sir David Murray as a saint or a sinner? Why did the majority of you fellow fans welcome Craig Whyte/white as id her were the Messiah despite being told at the time he was, in reality, a very naughty boy? What do you think about think about the ‘big’ tax case and what punishment- if any – should be meted out the Rangers later this week?

    Can you let us have your opinions please…….

  15. PJM says:

    one thing I am sure of is that Scotland would be a better place without the team in question.

  16. Tom Purdie says:

    Excellent piece. But to say that the outrage is “mostly felt by Celtic fans” is badly misguided – I would say that outwith Rangers, the anger is unanimous. I am a Hearts fan and I am incandescent with what’s been going on at Ibrox.

  17. JIM says:

    A good article which has covered some unbelievable points that involves the biggest sporting (and probably financial) scandal in Scottish history – since the Darien Scheme.
    I cannot believe that this will go unpunished as when the full investigations are complete it is likely that other than the SFA, that FIFA, HMRC, HBOS, The Scottish Parliament and Strathclyde Police will have big questions to be answered. This is possible fraud and financial doping on a massive scale.
    Sir David Murray should lose his knighthood (as Fred Goodwin did) and be held to account for his role in this scandal. I was amazed that over the years when I and many others had been led to believe that he had put tens of millions into Rangers the fact is that he had not and all the money was borrowed.
    I would also add that this matter has seriously damaged Scottish football whatever the outcome and that I and many other non Old Firm fans will stay away from the SPL if Rangers are allowed back into the SPL.

    It is time for Scotland to move into the 21st century and get rid of the sectarian blight on our nation and the first step forward is to deal with this scandal and throw Rangers Fc out of Scottish football. This is truly Scotland’s shame.

  18. Saint or Sinner says:

    An unbalanced article full of hearsay, speculation, accusation and blind hope!! Scottish football is finished.

    For every accusation pointed in the direction of Rangers, I can point one of the same structure back to Celtic FC. More and more documentation has been turning up on the Celtic FC in the past 7 days.

    Tax avoidance, Dual contracts for Robbie, Roy Keane, Bellamy and Juninho. The very accusation howled against Rangers FC. Formation of a “Newco” under Mr McCann in the 90’s, with taxman losing over £30m?? very very interesting information UNREPORTED, Yet no mention of it in our press or media??

    Anyway, that is all by the by for now. SFA are now proven to be untrustworthy. SPL are in a very strong position. SPL teams are turkey’s voting for xmas, Rangers FC?? Scottish courts will see justice is done. There must be balance. Rangers will be punished, do you want Scottish Football punished with it too??

  19. Hector says:

    SAINT OR SINNER – more lies and deflection. Why will Scottish football be punished due to Rangers long and continuing malfeasance?

    The howling going is from Sammy Patterson and pals discovering they are not ‘ra peepul’ but easily led eejits.

  20. H Crawford says:

    After the decision today it is a pity that all who made remarks about rangers could not be taken to court and fined heavily and the money put into a rangers fighting fund. Wouldn’t that be ironic

  21. Mark Murphy says:

    Actually, H, I think it would. Irony is a much misused word but I think you’ve used it correctly here. See you in court?

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