Bill Miller - new Rangers owner

That would only work if you signed Cha and his twin brother, Got.

 

Don't Gambol, you'll ruin Timothy's weekend.

 

hmm, just been reading the bbc scotland business editor who poses the same question ; he must be almost as clever as me. or a kafflik.

 

Link?

 

http://www.bbc.co.uk/news/uk-scotland-17941207


near the bottom " other questions ....worth keeping in mind "

<douglasfrasertaigname>

 

Adds nothing to the ifs, buts, and whatabouts we're all asking about anyway.

 

Thats a big ten-four.























I think I might have a secret trucker fetish.

 

He's being very clever , in my opinion.

The £11m he's paying now - £5mllion will go to D&F - for admin fees.

£6m will buy the assets - which he shifts to "newco".

£6m then offered as a CVA (5p in the £ if the debt levels are correct) which wil be rejected.

He then liquidates "oldco" - jobs a good un as "newco" will exist/be in the SPL.

 

He will be very clever IF (and it's a big IF) he gets away with it. I'm sure HMRC will be trying their best to ensure that he doesn't.

 

Uncle Bills magical mystery tour.

IN YOUR BODY TIMOTHY

 

CVA - HMRC get a few bucks!

If they liquidate... HMRC get **** all!

It's dodgy as **** but can't see it getting stopped.

 

If they liquidate then the assets will be sold off, perhaps the Taxman will suspect that he can raise more cash from the sale of assets than he would through a CVA.

 

What's the ground, training ground and players worth? More that £6m surely. Tax man will only agree to it if they get their share now And more each year IMO

 

"CVA - HMRC get a few bucks!

If they liquidate... HMRC get **** all!

It's dodgy as **** but can't see it getting stopped. "

well 2 things - 1 is that ticketus prob wont go for cva - accepting that may jeopardise their claim against whyte

2nd - backlash against hmrc would be significant

 

I can't see the Taxman allowing them to walk away Scot Free either, Liquidation is not wanted by the True Blue Brown Brogue Knights probably because they know that the Taxman will be wanting cash from the sale of Ibrox, Murray Park and the Albion Car park which are certainly worth more than a platry £11m?

 

I'm not sure what the taxman can do about it.

I agree that a CVA is highly unlikely. Therefore it's liquidation which would mean selling the assets and sharing out to creditors. If the assets have already been sold to Miller D&P say to the creditors here's the cash.

Unless the taxman can block the Miller deal? Can the taxman decide how assets are sold by a company in administration?

A little bit of me occasionally thinks that a CVA might be possible if Ticketus and HMRC could be persuaded that they'd get much more back in the longer run. This would be dependant upon what I've been told; which is - a CVA need not be merely a pence in the pound deal but can in fact cover all sorts of repayment plans/schemes. I'm not cetain that's the case though.

 

Uncle Bill's Blue and White Army

 

I see that Miller worked as a code breaker during his National Service. He might be able to help us with some of super & harry's posts.

 

I won't pretend to even have a clue but the way I see things is that HMRC are not a majority creditor YET. As the BTC has not been decided yet, perhaps Miller's plan does not cover the Big Tax Case and he will cross that bridge when he comes to it?

If that's the case then it could be straightforward enough to get a CVA but I don't see how a company going into liquidation can simply hive off the prime assets to a shell Newco to keep them out of the hands of the current creditors.

If they do manage a CVA (before the BTC) then surely the Taxman will come a calling if Rangers lose the case, and unless Miller is willing to pay off HMRC then another Administration may follow.

 

No chance.