Rangers' legal battle with HMRC

[RobNox]

I'm not sure - yes, we do want them crippled. My concern is that if they go bust it could be easier for some investor to come in buy the club assets from the administrators at a knock down price and start up Glasgow Bigots Rangers F.C. 2011 Ltd

 

I'm no expert on this, but that scenario would worry me. Happy to be wrong on this.

 

Depends on the scenario. If they are wound up then they cease to exist and the players would become free agents. Someone could come in and buy the ground and the name etc. but would also have to re-sign players. Your scenario is more likely if they went into administration, where someone could offer to but the club as a going concern at a knock-down price, but that would need the creditors to agree to take a percentage of what they were owed.

 

I presume Lloyds Banking Group have security over the stadium for their debt, so why would they let someone buy it on the cheap if they could repossess it, sell it and get their money back, with any leftover proceeds going to other creditors. HMRC would rank above the other unsecured creditors, so may likley be better off if the club was wound up and they would have first call on whatever was left after LLoyds are settled.

 

Even if the club was bought out completely after entering administration, they would suffer a severe penalty (other clubs have been relegated to divison 3, although Dundee escaped with a sizeable points reduction that threatens to relegate them to div 2). Although, no doubt, Rangers would escape with the sort of points deduction that would see them struggle to finish in the top 6 for 1 season, then back to business as usual.

 

Having said that, to buy the club on the cheap as you put it, would cost more than Murray was willing to sell them for and nobody was biting his arm off! If HMRC win their case then we would be looking at a total debt of ?90-100m when adding in LLoyds and other creditors. Even if the bank and HMRC were willing to accept 50p in the pound, any prospective buyer is going to have to pay at least ?45m to get the club out of administration. Why would the bank accept that if they could reposess Ibrox stadium and sell it to property developers - they would get their full whack back and their loyalty is to their shareholders, which we all happen to be thanks to the sizeable shareholding of HER MAJESTY'S Government.

 

Ha ha it get's better and better - wherever Rangers look they are at the mercy of the offices of HER MAJESTY... after all those years of loyal follow following they ought to expect better treatment!! Surely even the Pope himself couldn't have contrived this situation. All that could make it better is if the Roman Catholic Church, in a fit of pity for an honourable institution, decided to bail out Rangers by buying Murray's shares at an inflated price.

[Grumpy]

Depends on the scenario. If they are wound up then they cease to exist and the players would become free agents. Someone could come in and buy the ground and the name etc. but would also have to re-sign players. Your scenario is more likely if they went into administration, where someone could offer to but the club as a going concern at a knock-down price, but that would need the creditors to agree to take a percentage of what they were owed.

 

I presume Lloyds Banking Group have security over the stadium for their debt, so why would they let someone buy it on the cheap if they could repossess it, sell it and get their money back, with any leftover proceeds going to other creditors. HMRC would rank above the other unsecured creditors, so may likley be better off if the club was wound up and they would have first call on whatever was left after LLoyds are settled.

 

Even if the club was bought out completely after entering administration, they would suffer a severe penalty (other clubs have been relegated to divison 3, although Dundee escaped with a sizeable points reduction that threatens to relegate them to div 2). Although, no doubt, Rangers would escape with the sort of points deduction that would see them struggle to finish in the top 6 for 1 season, then back to business as usual.

 

Having said that, to buy the club on the cheap as you put it, would cost more than Murray was willing to sell them for and nobody was biting his arm off! If HMRC win their case then we would be looking at a total debt of ?90-100m when adding in LLoyds and other creditors. Even if the bank and HMRC were willing to accept 50p in the pound, any prospective buyer is going to have to pay at least ?45m to get the club out of administration. Why would the bank accept that if they could reposess Ibrox stadium and sell it to property developers - they would get their full whack back and their loyalty is to their shareholders, which we all happen to be thanks to the sizeable shareholding of HER MAJESTY'S Government.

 

Ha ha it get's better and better - wherever Rangers look they are at the mercy of the offices of HER MAJESTY... after all those years of loyal follow following they ought to expect better treatment!! Surely even the Pope himself couldn't have contrived this situation. All that could make it better is if the Roman Catholic Church, in a fit of pity for an honourable institution, decided to bail out Rangers by buying Murray's shares at an inflated price.

 

Thanks for that. So if all this comes about they're fecked with no obvious escape! Any chance Celtic and Hibs have been doing similar?

 

Mon the HMRC (only in the case of Glasgow and Leith Football teams)