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The All New Sevco Back in Yer Bin Thread; Taking out the trash
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Topic Started: 29 Apr 2018, 04:24 PM (2,086,579 Views)
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Gothamcelt
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19 Jun 2018, 02:57 PM
Post #8961
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Retired and now a BT Sports pundit
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- henrikisgod
- 19 Jun 2018, 09:51 AM
- Gothamcelt
- 18 Jun 2018, 04:43 PM
The Ibrox Football Centre? Rangers were granted the licence to sell alcohol and operate between 12pm and 6pm on August 11. The club has also lodged an application for a temporary public entertainment licence which is due to be heard before the start of the season. “There will be food and beverages with a bar and entertainment, including sports activities for kids, inflatables and beat the goalie. There will also be other kiosks relating to Club 1872. It’s all in preparation for Steven Gerrard’s first home league game as manager. A spokeswoman for the Gers said: “Rangers are delighted to announce that for the first home game of the coming season a new fan zone will be created at the Ibrox Football Centre directly opposite the iconic Bill Struth Main Stand entrance. http://www.eveningtimes.co.uk/news/16297678.Rangers_set_to_host_revamped_fan_zone_at_Ibrox_ahead_of_first_home_game/
It’s the facility across the other side of Edmiston drive Not owned by them So the ground is not owned by them, locals are supplying the food and beverages?
How's this good money for the club? (rangers fans think this will be a money spinner for the club, but seeing as others are running the thing, how can the club make "one thin dime"?)
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Martoto
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19 Jun 2018, 03:03 PM
Post #8962
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- Gothamcelt
- 19 Jun 2018, 02:57 PM
- henrikisgod
- 19 Jun 2018, 09:51 AM
- Gothamcelt
- 18 Jun 2018, 04:43 PM
The Ibrox Football Centre? Rangers were granted the licence to sell alcohol and operate between 12pm and 6pm on August 11. The club has also lodged an application for a temporary public entertainment licence which is due to be heard before the start of the season. “There will be food and beverages with a bar and entertainment, including sports activities for kids, inflatables and beat the goalie. There will also be other kiosks relating to Club 1872. It’s all in preparation for Steven Gerrard’s first home league game as manager. A spokeswoman for the Gers said: “Rangers are delighted to announce that for the first home game of the coming season a new fan zone will be created at the Ibrox Football Centre directly opposite the iconic Bill Struth Main Stand entrance. http://www.eveningtimes.co.uk/news/16297678.Rangers_set_to_host_revamped_fan_zone_at_Ibrox_ahead_of_first_home_game/
It’s the facility across the other side of Edmiston drive Not owned by them
So the ground is not owned by them, locals are supplying the food and beverages? How's this good money for the club? (rangers fans think this will be a money spinner for the club, but seeing as others are running the thing, how can the club make "one thin dime"?) Call it a charity do then dip it for the leccy bill etc.
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Pussyfoot
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19 Jun 2018, 03:07 PM
Post #8963
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- Gothamcelt
- 19 Jun 2018, 02:57 PM
- henrikisgod
- 19 Jun 2018, 09:51 AM
- Gothamcelt
- 18 Jun 2018, 04:43 PM
The Ibrox Football Centre? Rangers were granted the licence to sell alcohol and operate between 12pm and 6pm on August 11. The club has also lodged an application for a temporary public entertainment licence which is due to be heard before the start of the season. “There will be food and beverages with a bar and entertainment, including sports activities for kids, inflatables and beat the goalie. There will also be other kiosks relating to Club 1872. It’s all in preparation for Steven Gerrard’s first home league game as manager. A spokeswoman for the Gers said: “Rangers are delighted to announce that for the first home game of the coming season a new fan zone will be created at the Ibrox Football Centre directly opposite the iconic Bill Struth Main Stand entrance. http://www.eveningtimes.co.uk/news/16297678.Rangers_set_to_host_revamped_fan_zone_at_Ibrox_ahead_of_first_home_game/
It’s the facility across the other side of Edmiston drive Not owned by them
So the ground is not owned by them, locals are supplying the food and beverages? How's this good money for the club? (rangers fans think this will be a money spinner for the club, but seeing as others are running the thing, how can the club make "one thin dime"?) That's what the Club 1872 stalls are there for.
Other than beg they'll perhaps distribute Enemies of Rangers pamphlets and host Draw the Prophet tournaments from time to time.
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Dubz
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19 Jun 2018, 03:13 PM
Post #8964
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- johnbhoy1958
- 19 Jun 2018, 02:11 PM
Nae Luck,Eh!,
” Scottish referee Bobby Madden forced to sell house as he battles bankruptcy over unpaid tax debts.The whistler, 39, faces the threat of going bust if he fails to reach an agreement after being taken to court by the taxman”
(The Sun)
At least he’s trying to settle the bill unlike Ferguson who switched everything to his wife and is now regarded as a bankrupt columnist.
No way am I believing that the baldy Hun carrot is only 39 though.
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Ffdiva
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19 Jun 2018, 04:18 PM
Post #8965
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- johnbhoy1958
- 19 Jun 2018, 02:11 PM
Nae Luck,Eh!,
” Scottish referee Bobby Madden forced to sell house as he battles bankruptcy over unpaid tax debts.The whistler, 39, faces the threat of going bust if he fails to reach an agreement after being taken to court by the taxman”
(The Sun)
39  All that hunnery and tax dodging disnae hauf age you, eh Bobby.
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FoxyStoatyWeasely
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19 Jun 2018, 04:24 PM
Post #8966
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FFS "the iconic Bill Struth Main Stand entrance"
Why can't it just be the main stand or even the Bill Struth Stand?
No it needs to have a certain staunchness, an air of Churchillian dignity. What exactly is iconic about it? The art school that burnt doon, now THAT'S iconic!
So there you have the solution bares - burn it doon and it'll be iconic.
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Burnley Celt
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19 Jun 2018, 04:37 PM
Post #8967
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Old fud, taking things easy......
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- Dubz
- 19 Jun 2018, 03:13 PM
- johnbhoy1958
- 19 Jun 2018, 02:11 PM
Nae Luck,Eh!,
” Scottish referee Bobby Madden forced to sell house as he battles bankruptcy over unpaid tax debts.The whistler, 39, faces the threat of going bust if he fails to reach an agreement after being taken to court by the taxman”
(The Sun)
At least he’s trying to settle the bill unlike Ferguson who switched everything to his wife and is now regarded as a bankrupt columnist. No way am I believing that the baldy Hun carrot is only 39 though. Barry (8) isn't out of the woods yet. HMRC will be looking at all the circumstances of his donation to his wife. If all the stars line up, they could go to court to recover the tax.
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Gothamcelt
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19 Jun 2018, 04:47 PM
Post #8968
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Retired and now a BT Sports pundit
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"The collapse of the Rangers business left thousands of unsecured creditors out of pocket including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox". Surely it's the same club so they must still have their seats? It goes from the the club, to oldco to rangers business but still not liquidation.
Rangers oldco liquidation leaves creditors with £1.4m after 'disgraceful' £20m cost Martin Williams @Martin1Williams
Spoiler: click to toggle 'Disgraceful' £20m cost of Rangers oldco liquidation leaves creditors with £1.4m FIRMS handling the collapse of Rangers have been accused of profiting from "other people's misfortune" after it emerged they pocketed nearly £20 million in fees while creditors including thousands of fans have received just £1.4m. In what has been branded an "absolute disgrace", it has also emerged there is currently just £8.2m left to distribute to the thousands who lost money as a result of the club's financial implosion. It means that, barring any outstanding legal claims, the maximum creditors could expect to get right now would be around half that taken by liquidators, administrators and solicitors. The club's collapse left thousands of unsecured creditors out of pocket, including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox. Creditors also ranged from corporate giants such as Coca-Cola to a picture framer in Bearsden and a lady called Susan Thomson who runs a face-painting business and was owed £40. One creditor, who asked not to be named, said: “I personally, having taken legal advice, was not holding out for much more than a few pence in the pound out of the liquidation but it is mind-boggling to hear about the millions that is being made out of other people’s misfortune. “This has got to be wrong. It is clear that we should get far more out of what happened at Rangers than we have currently got and are likely to get.” Since the oldco fell into administration under former owner Craig Whyte in February, 2012, legal firms acting for insolvency firm BDO, the liquidators of RFC 2012 plc have received £10.356 million, while the liquidators bill stood at £4.136 million at April, 2018. The legal bill includes the £353,757 cost of employing counsel in the failed fight to convince the Supreme Court that the club's use of Employee Benefit Trusts to pay players and staff were loans that were not liable for tax. More than £47 million was paid to Rangers players, managers and directors in the EBT scheme administered by the Murray Group, then majority shareholder of the Ibrox club, between 2001 and 2010 by way of tax-free loans. It is understood HMRC has not yet received any of the £72 million in unpaid tax and interest believed to be owed by the liquidated company, as haggling continues over how much they should actually get. BDO had agreed in November to pay an 'interim dividend' of nearly 4p for every pound of debt to unsecured creditors and £1.4 million has been distributed. Before BDO took on the liquidation in October, 2012, Duff and Phelps amassed £3.484 million in fees plus £1.326 million in legal fees over the eight months they acted as joint administrators. Leading legal costs expert Jim Diamond said: "It's an absolute disgrace and an indication in my view and experience of the Scottish legal marketplace which is totally geared up for the professional people without the necessary controls and not to the benefit of the general public and in this case the creditors." The costs lawyer continued:"How can you look at this and have nobody complaining? "Scotland needs to have the politicians have a look at what is going on." The collapse of the Rangers business left thousands of unsecured creditors out of pocket including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox. Creditors ranged from giants such as Coca-Cola to a picture framer in Bearsden and a lady called Susan Thomson who runs a face-painting business and was owed £40. Papers reveal that £8.224 million of the legal fees including 'outlays' which are solicitors' expenses have so far gone to London-based legal firm Stephenson Harwood and were mostly over the settlement of a claim against London-based Collyer Bristow the solicitors involved in the controversial takeover of the club by Craig Whyte. The liquidators banked £24 milllion from that claim. BDO said £5.4 million of the Collyer Bristow fees were the result of it being "necessary to instruct" the company on a 'no win, no charge' conditional fee arrangement basis. That deal meant that Stephenson Harwood were entitled to their costs plus an extra 75 to 100 per cent to "compensate them for the risk that they would not get paid if the litigation failed". Edinburgh-based Brodies solicitors have had £1,246,738 in fees and outlays of £518,655 so far, while Shepherd and Wedderburn have had £152,272 and £20,875 in outlays and Levy and McRae have had £84,119 and £14,919 outlays. Takeover lawyer Gary Withey from Collyer Bristow, right, says he told Craig Whyte he would be mad to buy Rangers The £8.2 million currently in the creditors' payout pot would be wiped out if the company used by Mr Whyte to buy the club is successful in a new £18 million legal claim on the defunct oldco. The move by Rangers FC Group – the company formerly known as Wavetower that was founded by Mr Whyte - was stopped by BDO from appointing its own administrative receivers to control the in-liquidation firm. The move is the result of Rangers FC Group - now controlled by directors of the defunct investment firm Worthington Group plc - believing it holds a security over the liquidated assets of the oldco RFC 2012 plc. It is claimed the security was reassigned to the company from the Lloyds Banking Group after an £18m bank debt was paid off as a condition of Mr Whyte's £1 purchase of Rangers from Sir David Murray in May, 2011. It was said to be inherited by Mr Whyte after he paid off bank debt using funds raised from the selling off the rights of future season ticket sales to ticket agency Ticketus. Rangers oldco liquidators BDO says it obtained an interim interdict which stopped the receivership appointment. The other outstanding legal action is BDO's £28.9 million claim against Paul Clark and David Whitehouse of Duff and Phelps over their handling of the administration process. Duff & Phelps sold the business and assets of Rangers to a consortium fronted by Charles Green for £5.5 million in June, 2012. Duff & Phelps are fighting the action saying they were surprised and disappointed. Criminal charges against Mr Clark and Mr Whitehouse relating to their involvement with Rangers Football Club plc were dropped in June 2016. BDO declined to comment. http://www.eveningtimes.co.uk/news/16300543._Disgraceful____20m_cost_of_Rangers_oldco_liquidation_leaves_creditors_with___1_4m/
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Dan1974
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19 Jun 2018, 04:51 PM
Post #8969
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Goldson hasn’t set any personal targets for the upcoming season yet, but a long-term goal for him is to win silverware at the club.
He added: “I’ll see how pre-season goes and how we fare. It is more team targets that interest me. I want to win things and I have always been in teams that have won things
His honours include the football 2 league runner up twice with Shrewsbury town and runner up in the EFL with Brighton.................should fit in with his new team team then that have never won a major honour...........left the best to the last though......“I want to win as many games as possible and try and push us as far up the league as possible.”
That will please the hordes the last part
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Dubz
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19 Jun 2018, 05:19 PM
Post #8970
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- Burnley Celt
- 19 Jun 2018, 04:37 PM
- Dubz
- 19 Jun 2018, 03:13 PM
- johnbhoy1958
- 19 Jun 2018, 02:11 PM
Nae Luck,Eh!,
” Scottish referee Bobby Madden forced to sell house as he battles bankruptcy over unpaid tax debts.The whistler, 39, faces the threat of going bust if he fails to reach an agreement after being taken to court by the taxman”
(The Sun)
At least he’s trying to settle the bill unlike Ferguson who switched everything to his wife and is now regarded as a bankrupt columnist. No way am I believing that the baldy Hun carrot is only 39 though.
Barry (8) isn't out of the woods yet. HMRC will be looking at all the circumstances of his donation to his wife. If all the stars line up, they could go to court to recover the tax. That would be good, very good.
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shugmc
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19 Jun 2018, 05:23 PM
Post #8971
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- Burnley Celt
- 19 Jun 2018, 04:37 PM
- Dubz
- 19 Jun 2018, 03:13 PM
- johnbhoy1958
- 19 Jun 2018, 02:11 PM
Nae Luck,Eh!,
” Scottish referee Bobby Madden forced to sell house as he battles bankruptcy over unpaid tax debts.The whistler, 39, faces the threat of going bust if he fails to reach an agreement after being taken to court by the taxman”
(The Sun)
At least he’s trying to settle the bill unlike Ferguson who switched everything to his wife and is now regarded as a bankrupt columnist. No way am I believing that the baldy Hun carrot is only 39 though.
Barry (8) isn't out of the woods yet. HMRC will be looking at all the circumstances of his donation to his wife. If all the stars line up, they could go to court to recover the tax. I hope Hector gets the trackie off his back
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old greennose
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19 Jun 2018, 05:40 PM
Post #8972
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- leangreen
- 19 Jun 2018, 01:49 PM
- Luca
- 19 Jun 2018, 12:22 PM
- FoxyStoatyWeasely
- 19 Jun 2018, 12:19 PM
Agree with the general consensus here, they're sleepwalking into another keechstorm thanks to the romanticising of these arselicking "football reporters". Another handful of nomark dross signings and already they think they're back. Again. 
When is their euro game? Do they know their opponents?
Hubris Rapid Hubris or Racing Hubris?
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Soupnazi
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19 Jun 2018, 05:46 PM
Post #8973
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- Martoto
- 19 Jun 2018, 01:20 PM
- ootmaheid
- 19 Jun 2018, 12:50 PM
- JCBhoy
- 19 Jun 2018, 07:32 AM
BBC Gossip citing Daily Mail interview with Stevie G who is quoted as saying about Morelos: " we love him, the fans love him, we want him to stay and be a key player for us"
They want rid of him so badly
It's not that they want to punt him. It's just that the speculation around how much money he's worth is serving as a huge distraction and it's unsettling the supporters. I was reading the thread on FF about the latest mystery bid from an unnamed Chinese club and one of them said this of Morelos
"He's got a terrible attitude and has no composure in front of goal - I wouldnt accept less than £10m for him" Slaughter him then demand top dollar, stupid bastards.
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CM1975
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19 Jun 2018, 05:49 PM
Post #8974
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- old greennose
- 19 Jun 2018, 05:40 PM
- leangreen
- 19 Jun 2018, 01:49 PM
- Luca
- 19 Jun 2018, 12:22 PM
Quoting limited to 3 levels deep
Hubris
Rapid Hubris or Racing Hubris? Real Hubris probably.
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Aberdoom Bhoy
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19 Jun 2018, 07:15 PM
Post #8975
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- Gothamcelt
- 19 Jun 2018, 04:47 PM
"The collapse of the Rangers business left thousands of unsecured creditors out of pocket including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox". Surely it's the same club so they must still have their seats? It goes from the the club, to oldco to rangers business but still not liquidation. Rangers oldco liquidation leaves creditors with £1.4m after 'disgraceful' £20m costMartin Williams @Martin1Williams Spoiler: click to toggle 'Disgraceful' £20m cost of Rangers oldco liquidation leaves creditors with £1.4m FIRMS handling the collapse of Rangers have been accused of profiting from "other people's misfortune" after it emerged they pocketed nearly £20 million in fees while creditors including thousands of fans have received just £1.4m. In what has been branded an "absolute disgrace", it has also emerged there is currently just £8.2m left to distribute to the thousands who lost money as a result of the club's financial implosion. It means that, barring any outstanding legal claims, the maximum creditors could expect to get right now would be around half that taken by liquidators, administrators and solicitors. The club's collapse left thousands of unsecured creditors out of pocket, including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox. Creditors also ranged from corporate giants such as Coca-Cola to a picture framer in Bearsden and a lady called Susan Thomson who runs a face-painting business and was owed £40. One creditor, who asked not to be named, said: “I personally, having taken legal advice, was not holding out for much more than a few pence in the pound out of the liquidation but it is mind-boggling to hear about the millions that is being made out of other people’s misfortune. “This has got to be wrong. It is clear that we should get far more out of what happened at Rangers than we have currently got and are likely to get.” Since the oldco fell into administration under former owner Craig Whyte in February, 2012, legal firms acting for insolvency firm BDO, the liquidators of RFC 2012 plc have received £10.356 million, while the liquidators bill stood at £4.136 million at April, 2018. The legal bill includes the £353,757 cost of employing counsel in the failed fight to convince the Supreme Court that the club's use of Employee Benefit Trusts to pay players and staff were loans that were not liable for tax. More than £47 million was paid to Rangers players, managers and directors in the EBT scheme administered by the Murray Group, then majority shareholder of the Ibrox club, between 2001 and 2010 by way of tax-free loans. It is understood HMRC has not yet received any of the £72 million in unpaid tax and interest believed to be owed by the liquidated company, as haggling continues over how much they should actually get. BDO had agreed in November to pay an 'interim dividend' of nearly 4p for every pound of debt to unsecured creditors and £1.4 million has been distributed. Before BDO took on the liquidation in October, 2012, Duff and Phelps amassed £3.484 million in fees plus £1.326 million in legal fees over the eight months they acted as joint administrators. Leading legal costs expert Jim Diamond said: "It's an absolute disgrace and an indication in my view and experience of the Scottish legal marketplace which is totally geared up for the professional people without the necessary controls and not to the benefit of the general public and in this case the creditors." The costs lawyer continued:"How can you look at this and have nobody complaining? "Scotland needs to have the politicians have a look at what is going on." The collapse of the Rangers business left thousands of unsecured creditors out of pocket including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox. Creditors ranged from giants such as Coca-Cola to a picture framer in Bearsden and a lady called Susan Thomson who runs a face-painting business and was owed £40. Papers reveal that £8.224 million of the legal fees including 'outlays' which are solicitors' expenses have so far gone to London-based legal firm Stephenson Harwood and were mostly over the settlement of a claim against London-based Collyer Bristow the solicitors involved in the controversial takeover of the club by Craig Whyte. The liquidators banked £24 milllion from that claim. BDO said £5.4 million of the Collyer Bristow fees were the result of it being "necessary to instruct" the company on a 'no win, no charge' conditional fee arrangement basis. That deal meant that Stephenson Harwood were entitled to their costs plus an extra 75 to 100 per cent to "compensate them for the risk that they would not get paid if the litigation failed". Edinburgh-based Brodies solicitors have had £1,246,738 in fees and outlays of £518,655 so far, while Shepherd and Wedderburn have had £152,272 and £20,875 in outlays and Levy and McRae have had £84,119 and £14,919 outlays. Takeover lawyer Gary Withey from Collyer Bristow, right, says he told Craig Whyte he would be mad to buy Rangers The £8.2 million currently in the creditors' payout pot would be wiped out if the company used by Mr Whyte to buy the club is successful in a new £18 million legal claim on the defunct oldco. The move by Rangers FC Group – the company formerly known as Wavetower that was founded by Mr Whyte - was stopped by BDO from appointing its own administrative receivers to control the in-liquidation firm. The move is the result of Rangers FC Group - now controlled by directors of the defunct investment firm Worthington Group plc - believing it holds a security over the liquidated assets of the oldco RFC 2012 plc. It is claimed the security was reassigned to the company from the Lloyds Banking Group after an £18m bank debt was paid off as a condition of Mr Whyte's £1 purchase of Rangers from Sir David Murray in May, 2011. It was said to be inherited by Mr Whyte after he paid off bank debt using funds raised from the selling off the rights of future season ticket sales to ticket agency Ticketus. Rangers oldco liquidators BDO says it obtained an interim interdict which stopped the receivership appointment. The other outstanding legal action is BDO's £28.9 million claim against Paul Clark and David Whitehouse of Duff and Phelps over their handling of the administration process. Duff & Phelps sold the business and assets of Rangers to a consortium fronted by Charles Green for £5.5 million in June, 2012. Duff & Phelps are fighting the action saying they were surprised and disappointed. Criminal charges against Mr Clark and Mr Whitehouse relating to their involvement with Rangers Football Club plc were dropped in June 2016. BDO declined to comment. http://www.eveningtimes.co.uk/news/16300543._Disgraceful____20m_cost_of_Rangers_oldco_liquidation_leaves_creditors_with___1_4m/ £20m in costs. That is outrageous and completely out of proportion to the value of "work" actually done. The lawyers and accountants involved should have the decency to wear masks like Dick Turpin did.
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VBI
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19 Jun 2018, 07:40 PM
Post #8976
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- Dan1974
- 19 Jun 2018, 04:51 PM
Goldson hasn’t set any personal targets for the upcoming season yet, but a long-term goal for him is to win silverware at the club.
He added: “I’ll see how pre-season goes and how we fare. It is more team targets that interest me. I want to win things and I have always been in teams that have won things
His honours include the football 2 league runner up twice with Shrewsbury town and runner up in the EFL with Brighton.................should fit in with his new team team then that have never won a major honour...........left the best to the last though......“I want to win as many games as possible and try and push us as far up the league as possible.”
That will please the hordes the last part So the guy's honours list include all those leagues he didn't win?
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Dubz
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19 Jun 2018, 07:58 PM
Post #8977
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- Aberdoom Bhoy
- 19 Jun 2018, 07:15 PM
- Gothamcelt
- 19 Jun 2018, 04:47 PM
"The collapse of the Rangers business left thousands of unsecured creditors out of pocket including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox". Surely it's the same club so they must still have their seats? It goes from the the club, to oldco to rangers business but still not liquidation. Rangers oldco liquidation leaves creditors with £1.4m after 'disgraceful' £20m costMartin Williams @Martin1Williams Spoiler: click to toggle 'Disgraceful' £20m cost of Rangers oldco liquidation leaves creditors with £1.4m FIRMS handling the collapse of Rangers have been accused of profiting from "other people's misfortune" after it emerged they pocketed nearly £20 million in fees while creditors including thousands of fans have received just £1.4m. In what has been branded an "absolute disgrace", it has also emerged there is currently just £8.2m left to distribute to the thousands who lost money as a result of the club's financial implosion. It means that, barring any outstanding legal claims, the maximum creditors could expect to get right now would be around half that taken by liquidators, administrators and solicitors. The club's collapse left thousands of unsecured creditors out of pocket, including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox. Creditors also ranged from corporate giants such as Coca-Cola to a picture framer in Bearsden and a lady called Susan Thomson who runs a face-painting business and was owed £40. One creditor, who asked not to be named, said: “I personally, having taken legal advice, was not holding out for much more than a few pence in the pound out of the liquidation but it is mind-boggling to hear about the millions that is being made out of other people’s misfortune. “This has got to be wrong. It is clear that we should get far more out of what happened at Rangers than we have currently got and are likely to get.” Since the oldco fell into administration under former owner Craig Whyte in February, 2012, legal firms acting for insolvency firm BDO, the liquidators of RFC 2012 plc have received £10.356 million, while the liquidators bill stood at £4.136 million at April, 2018. The legal bill includes the £353,757 cost of employing counsel in the failed fight to convince the Supreme Court that the club's use of Employee Benefit Trusts to pay players and staff were loans that were not liable for tax. More than £47 million was paid to Rangers players, managers and directors in the EBT scheme administered by the Murray Group, then majority shareholder of the Ibrox club, between 2001 and 2010 by way of tax-free loans. It is understood HMRC has not yet received any of the £72 million in unpaid tax and interest believed to be owed by the liquidated company, as haggling continues over how much they should actually get. BDO had agreed in November to pay an 'interim dividend' of nearly 4p for every pound of debt to unsecured creditors and £1.4 million has been distributed. Before BDO took on the liquidation in October, 2012, Duff and Phelps amassed £3.484 million in fees plus £1.326 million in legal fees over the eight months they acted as joint administrators. Leading legal costs expert Jim Diamond said: "It's an absolute disgrace and an indication in my view and experience of the Scottish legal marketplace which is totally geared up for the professional people without the necessary controls and not to the benefit of the general public and in this case the creditors." The costs lawyer continued:"How can you look at this and have nobody complaining? "Scotland needs to have the politicians have a look at what is going on." The collapse of the Rangers business left thousands of unsecured creditors out of pocket including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox. Creditors ranged from giants such as Coca-Cola to a picture framer in Bearsden and a lady called Susan Thomson who runs a face-painting business and was owed £40. Papers reveal that £8.224 million of the legal fees including 'outlays' which are solicitors' expenses have so far gone to London-based legal firm Stephenson Harwood and were mostly over the settlement of a claim against London-based Collyer Bristow the solicitors involved in the controversial takeover of the club by Craig Whyte. The liquidators banked £24 milllion from that claim. BDO said £5.4 million of the Collyer Bristow fees were the result of it being "necessary to instruct" the company on a 'no win, no charge' conditional fee arrangement basis. That deal meant that Stephenson Harwood were entitled to their costs plus an extra 75 to 100 per cent to "compensate them for the risk that they would not get paid if the litigation failed". Edinburgh-based Brodies solicitors have had £1,246,738 in fees and outlays of £518,655 so far, while Shepherd and Wedderburn have had £152,272 and £20,875 in outlays and Levy and McRae have had £84,119 and £14,919 outlays. Takeover lawyer Gary Withey from Collyer Bristow, right, says he told Craig Whyte he would be mad to buy Rangers The £8.2 million currently in the creditors' payout pot would be wiped out if the company used by Mr Whyte to buy the club is successful in a new £18 million legal claim on the defunct oldco. The move by Rangers FC Group – the company formerly known as Wavetower that was founded by Mr Whyte - was stopped by BDO from appointing its own administrative receivers to control the in-liquidation firm. The move is the result of Rangers FC Group - now controlled by directors of the defunct investment firm Worthington Group plc - believing it holds a security over the liquidated assets of the oldco RFC 2012 plc. It is claimed the security was reassigned to the company from the Lloyds Banking Group after an £18m bank debt was paid off as a condition of Mr Whyte's £1 purchase of Rangers from Sir David Murray in May, 2011. It was said to be inherited by Mr Whyte after he paid off bank debt using funds raised from the selling off the rights of future season ticket sales to ticket agency Ticketus. Rangers oldco liquidators BDO says it obtained an interim interdict which stopped the receivership appointment. The other outstanding legal action is BDO's £28.9 million claim against Paul Clark and David Whitehouse of Duff and Phelps over their handling of the administration process. Duff & Phelps sold the business and assets of Rangers to a consortium fronted by Charles Green for £5.5 million in June, 2012. Duff & Phelps are fighting the action saying they were surprised and disappointed. Criminal charges against Mr Clark and Mr Whitehouse relating to their involvement with Rangers Football Club plc were dropped in June 2016. BDO declined to comment. http://www.eveningtimes.co.uk/news/16300543._Disgraceful____20m_cost_of_Rangers_oldco_liquidation_leaves_creditors_with___1_4m/
£20m in costs. That is outrageous and completely out of proportion to the value of "work" actually done. The lawyers and accountants involved should have the decency to wear masks like Dick Turpin did. Cash cow. Tell me anyone involved with huns/Sevco who hasn’t made a fortune?
Shame.
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the iron tim
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19 Jun 2018, 08:03 PM
Post #8978
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- Burnley Celt
- 19 Jun 2018, 04:37 PM
- Dubz
- 19 Jun 2018, 03:13 PM
- johnbhoy1958
- 19 Jun 2018, 02:11 PM
Nae Luck,Eh!,
” Scottish referee Bobby Madden forced to sell house as he battles bankruptcy over unpaid tax debts.The whistler, 39, faces the threat of going bust if he fails to reach an agreement after being taken to court by the taxman”
(The Sun)
At least he’s trying to settle the bill unlike Ferguson who switched everything to his wife and is now regarded as a bankrupt columnist. No way am I believing that the baldy Hun carrot is only 39 though.
Barry (8) isn't out of the woods yet. HMRC will be looking at all the circumstances of his donation to his wife. If all the stars line up, they could go to court to recover the tax. They can only go back 4 years to look for assets and I'm sure I read he transferred them to his wife 4 years and a few months prior to the bankruptcy. carrots played it well unfortunately.
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the iron tim
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19 Jun 2018, 08:08 PM
Post #8979
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Everyone's Fantasy Football first pick
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- the iron tim
- 19 Jun 2018, 08:03 PM
- Burnley Celt
- 19 Jun 2018, 04:37 PM
- Dubz
- 19 Jun 2018, 03:13 PM
Quoting limited to 3 levels deep
Barry (8) isn't out of the woods yet. HMRC will be looking at all the circumstances of his donation to his wife. If all the stars line up, they could go to court to recover the tax.
The official receiver/trustee can only go back 4 years to look for assets (and for 4 years after the bankruptcy discharge date) and I'm sure I read he transferred them to his wife 4 years and a few months prior to the bankruptcy. carrot played it well unfortunately.
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danbhoy09
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19 Jun 2018, 08:26 PM
Post #8980
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- the iron tim
- 19 Jun 2018, 08:03 PM
- Burnley Celt
- 19 Jun 2018, 04:37 PM
- Dubz
- 19 Jun 2018, 03:13 PM
Quoting limited to 3 levels deep
Barry (8) isn't out of the woods yet. HMRC will be looking at all the circumstances of his donation to his wife. If all the stars line up, they could go to court to recover the tax.
They can only go back 4 years to look for assets and I'm sure I read he transferred them to his wife 4 years and a few months prior to the bankruptcy. carrots played it well unfortunately. That's annoying. My wife's gran transferred her house over to my mother in law as, apparently, should the need for care ever rear it's head, they can claw back assets that had been transferred within the last 7 years.
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