V for Vendetta 1,369 Posted October 17, 2012 (edited) The old "Rangers are Dead" thread is history now. Its time to sit back and watch the slow lingering death of another bigotted scottish football club. Sevco or the The Rangers as they sometimes call themselves. With Craig Whyte's return, Green's desperate search for more cash bound to fail and BDO just waiting to investigate the admin and possibly unwind the sale of assets I think it might be time So I propose this new thread "Sevco are Dead". http://www.bbc.co.uk/news/uk-scotland-glasgow-west-19976991 Edited October 17, 2012 by V for Vendetta Share this post Link to post
Pudgie 613 Posted October 17, 2012 So how dodgy is Whyte's return? Someone posted up 5 or 6 criteria that HMRC look for in a "Newco" and one of these was different people at the top. How much does this new revelation put that in jeopardy? This was the ONLY criteria that they met so could it be Share this post Link to post
muttonhumper 1,842 Posted October 17, 2012 So how dodgy is Whyte's return? Someone posted up 5 or 6 criteria that HMRC look for in a "Newco" and one of these was different people at the top. How much does this new revelation put that in jeopardy? This was the ONLY criteria that they met so could it be Share this post Link to post
tup 2,296 Posted October 17, 2012 It's as clear a case of contempt for the laws of the land as you'll see. No other company would have made it this far, only widespread corruption in our society has seen it reach this stage. Share this post Link to post
a1-don 12 Posted October 17, 2012 How long until The The Rangers appear? Share this post Link to post
dj_bollocks 385 Posted October 17, 2012 How long until The The Rangers appear? I hope the band of the same name sues them for infringement... Share this post Link to post
super_al 303 Posted October 17, 2012 How long until we have a club named "The The The The The Rangers" playing in div 3? Share this post Link to post
RUL 1,200 Posted October 17, 2012 I put that up after getting a mail about it. Thus: Rumours abound that HMRC is considering going after new-co for the old-co debts. Apparently there are 6 criteria that can lead to HMRC considering this move: 1.Are the directors the same or is there evidence that the directors of the previous company are connected with those of the successor company, or involved in its management?2.Is the successor company carrying on the same trade as the previous company?3. Are the employees the same?4.Is the trading or company name the same or similar?5.Are the trading premises the same?6. Did the successor company acquire assets from the previous company? Share this post Link to post
Ke1t 4,285 Posted October 17, 2012 (edited) Call me thick here but quite clearly they are already in breach of these rules? They are still claiming oldco history for fuck sake? Why are they allowed to continue at all? That's the thing... they can claim all the old Rangers trophies and titles they want, but this Newco club didn't win a single one of them. All they did was buy them. By THAT logic I can go on EBay and 'win' a fucking Iron Cross and call myself Hitler. Edited October 17, 2012 by Ke1t 2 Share this post Link to post
caledonia 555 Posted October 17, 2012 That's the thing... they can claim all the old Rangers trophies and titles they want, but this Newco club didn't win a single one of them. All they did was buy them. By THAT logic I can go on EBay and 'win' a fucking Iron Cross and call myself Hitler. Or you could buy a Jim ill fix it badge and we can call you something else.This oldco/newco/the the rangers/hmrc thing has been dragging on for so long now that its getting boring.When will the off with their heads actually take place Share this post Link to post
Highland-dandy 1 Posted October 17, 2012 Having a little read up about starting a newco and what flaws sevco have made and can see that what follows has not been carried out: The company assets are valuedThe insolvency practitioner will arrange for an independent valuation of the companies assets as a fare price needs to be paid for them, even if purchased by the phoenix company. So werent these assets valued at almost 10times the price that they were bought for so there is no fair price there so in which breaches S423 Insolvency Act 1986. So follow the letter of the law when BDO Start liquidation proceedings if there value of the assets shows the 5.5 million is indeed not a fair price the sale to chuckie will be immediately overturned Please also remember the chuckle brothers are also to receive there fee from this figure if that is correct Share this post Link to post
Red Dragon 70 Posted October 18, 2012 Having a little read up about starting a newco and what flaws sevco have made and can see that what follows has not been carried out: The company assets are valuedThe insolvency practitioner will arrange for an independent valuation of the companies assets as a fare price needs to be paid for them, even if purchased by the phoenix company. So werent these assets valued at almost 10times the price that they were bought for so there is no fair price there so in which breaches S423 Insolvency Act 1986. So follow the letter of the law when BDO Start liquidation proceedings if there value of the assets shows the 5.5 million is indeed not a fair price the sale to chuckie will be immediately overturned Please also remember the chuckle brothers are also to receive there fee from this figure if that is correct I don't think the value presented in the account itself presents a 'fair' value for the assets - likely to be inflated to make things look better than they are. I'd expect the truth to lie somewhere in between. Share this post Link to post
Roberto 2,403 Posted October 18, 2012 I'm watching this Craig Whyte interview and think he's squirming a little and covering up a hell of a lot to protect himself as he fears he could be killed. Share this post Link to post
muttonhumper 1,842 Posted October 18, 2012 Football life take on it... blog NewCo: What Share this post Link to post
Top Cat 60 Posted October 18, 2012 Furthermore, the feeling of my contact was that, without the share issue, Rangers are likely to be forced into administration within weeks Surely they still would be regardless if that's the case? I thought that money from the share issue couldn't legally be used for running costs? Where do we punt them to if it happens again? The juniors? Share this post Link to post
Pudgie 613 Posted October 18, 2012 Surely they still would be regardless if that's the case? I thought that money from the share issue couldn't legally be used for running costs? Where do we punt them to if it happens again? The juniors?No, but the money from the share issue could be used for planned "furthering of the club" and the money that would have been used for that, could go to paying debts and creditors and wages etc. Share this post Link to post
ollie1903 1,912 Posted October 18, 2012 Surely they still would be regardless if that's the case? I thought that money from the share issue couldn't legally be used for running costs? Where do we punt them to if it happens again? The juniors?That is a level above where they should have started this season. Share this post Link to post
vanderark14 1,263 Posted October 18, 2012 http://www.paddypower.com/football/uk-football/scottish-division-3 worth a punt on Peterheed or QP for the league? Share this post Link to post
Henry 4,791 Posted October 18, 2012 People in Scotland don't want to see Rangers fans without a club to follow. What they do want is a club that is run by the fans, for the fans. A club that is built on fairness and anti-sectarianism. A club that is designed around a stable, long-term outlook. Rangers fans already don't have a club to follow. They've changed clubs to follow the rangers. I'd be delighted to see the rangers fans with no club to follow. Share this post Link to post
Pudgie 613 Posted October 18, 2012 http://www.paddypower.com/football/uk-football/scottish-division-3?ev_oc_grp_ids=753836 The field at 8/1 if I had to! Share this post Link to post
Henry 4,791 Posted October 18, 2012 I (along with others on here) have money on the rangers to win nothing this season Share this post Link to post
muttonhumper 1,842 Posted October 18, 2012 Rangers fans already don't have a club to follow. They've changed clubs to follow the rangers. I'd be delighted to see the rangers fans with no club to follow.Amen to that. As if this:A club that is built on fairness and anti-sectarianism.could ever fucking happen. Share this post Link to post
fatshaft 117 Posted October 18, 2012 I (along with others on here) have money on the rangers to win nothing this season Aye, also on "the field" to win the league. I believe now that the season has started, and points deductions, or even liquidation of Sevco and the bet still stands, that exclusion was only pre-season. Fucking come on!!! Share this post Link to post
Bebo 3,119 Posted October 18, 2012 http://www.paddypower.com/football/uk-football/scottish-division-3?ev_oc_grp_ids=753836 The field at 8/1 if I had to! Got that at 12/1, as did quite a few on here. Though that was before they started signing players. Share this post Link to post
fatshaft 117 Posted October 18, 2012 Got that at 12/1, as did quite a few on here. Though that was before they started signing players.You sure? 12/1 was to win nothing, it was 6/1 the field to wint Div 3. At least that's what I have on my ticket. Share this post Link to post
Bebo 3,119 Posted October 18, 2012 You sure? 12/1 was to win nothing, it was 6/1 the field to wint Div 3. At least that's what I have on my ticket. Aye, just had a check, you're right. 12/1 to win nothing. Share this post Link to post
vanderark14 1,263 Posted October 19, 2012 Sevco win their first honour http://www.forres-gazette.co.uk/Sport/Football/Forres-gift-to-Rangers-on-display-at-Ibrox-19102012.htm Share this post Link to post
Tommy 3,473 Posted October 19, 2012 Sevco win their first honour http://www.forres-gazette.co.uk/Sport/Football/Forres-gift-to-Rangers-on-display-at-Ibrox-19102012.htm "It Share this post Link to post