Bill Miller - new Rangers owner

If that happens he could just sell the newco to new newco, keep the history and assets and **** the debt.

 

That's why I don't think you can simply transfer assets Anp.

 

Me too. If it works then surely everyone will do it?

 

That's business.

I did it last year, transferred the assets, ie Tools PC's and stuff from one co to a newco, even kept the company name and kept the history (of work done) and my CV.

Easy

 

Was the old co liquidated though? Not denying it can happen

 

<Edge's shady business practice>

 

Any Newco must be an SFA member for a full three years before it is eligible to participate in Europe.

Article 12 of the UEFA Club Licensing and
Financial Fair Play Regulations

1.
A licence applicant may only be a football club, i.e. a legal entity fully responsible for a football team participating in national and international competitions which either:
a) is a registered member of a UEFA member association and/or its affiliated league (hereinafter: registered member); or b) has a contractual relationship with a registered member (hereinafter: football
company).

2.The membership and the contractual relationship (if any) must have lasted &#8211; at the start of the licence season &#8211; for at least three consecutive years.

Any alteration to the club&#8217;s legal form or company structure (including, for example, changing its headquarters, name or club colours, or transferring stakeholdings between different clubs) during this period in order to facilitate its qualification on sporting merit and/or its receipt of a licence to the detriment of the integrity of a competition is deemed as an interruption of membership or contractual relationship (if any) within the meaning of this provision.

 

Also,

the UK government have changed the law so that HMRC can collect taxes retrospectively. They did this to go after Barclays Bank.

Rangers newco if it looks like a tax avoidance scheme will be liable. The phrase ringing through the airwaves is that the new system 'follows the assets'.

 

I don't have a clue either and mainly thinking out loud about all this stuff till it becomes clear what is going on.

I don't think they are hiving off assets though. Miller is buying them and the money is going to the creditors. Same as if the assets were sold under liquidation. That is my understanding, although as I just admitted I don't know for sure.

It's all as clear as mud, as usual.

 

I'm going to see what RTC and Paul McConville say, i'll let you know.

 

His burd would receive the full length.

 

That's not what they said.

 

Who? Poofters?

 

No, RTC or Paul McConville.

 

They go for chicks with dicks allegedly

 

I think for a CVA to be allowed you need something like 75% of your creditors to agree to the CVA.
Once you get that agreement, the rest have to accept it.

 

That is true. However my gut feeling is that HMRC and Ticketus won't agree. Hopefully I'm wrong.

 

You're always ****ing wrong, even when you're right.

 

Yes, the OldCo was liquidated.

Unfortunately, that's life, Russ.

The **** that bumped me was a builder, we were working at a hotel in the City Centre. His client, the Hotel (part of a group), never went out to Tender when renovating these hotels, the builder negotiated the price with the hotel because the guy who owned the builder and the MD for the hotel chain were best mates....

But.... the hotel "bumped" the builder and forced them into Administration, meaning that they bumped me for a tidy sum, meaning I had to go tits up.....

Imagine doing that to your 'best mate'.

But now he's started again (builder) and guess who he's working for?

Turns out the Hotelier were in a wee pickle themselves and did a deal with his best mate to ensure that they could continue trading. Ironically the hotelier had got a lot of credit through HBOS, much like Rangers and SDM, and Lloyds were after them to get some of it back.