Craig Whyte

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super - I have thought since the HMRC decision that Oldco will not liquidate, but will be bought out & merged with Newco.

The period in liquidation will allow BDO to fully investigate.

And with more & more revelations every day, I am further convinced of a buy out of Oldco in due course.

With regard to buying oldco I cant see it until all appeals are exhausted by HMRC.

Last I read they were challenging the ruling and if that is the case we shouldnt touch oldco.
Also the fact the SPL fined oldco and the last thing we want is for them to get any cash.

Ha good point.

About the oldco thing though it would mean that the vote to kick rangers out of the spl becomes very shady indeed (another case of rangers being punished and pre judged before a final verdict) and I could see Charles Green wanting to go after everyone for loss of earnings.

I would rather draw a line under it hut would Green?

Getting ready for a backlash here but fck it I'm gonna say it.

David Murray, as chairman of Rangers, racked up debts and took chances with taxes. After he sold the club, his company MIH was left with a lot of debt, some of it Rangers no doubt, and the tax liability was left with Rangers. He made no money out of the sale of Rangers, just got debt off his back.

Craig Whyte, as chairman of Rangers, fleeced the Ticketus company out of approx £20m and used it to pay off the bank debt we had of £18m. He also took chances with taxes, and through not paying PAYE or VAT along with the massive possible tax liabilty from HMRC still lingering over us, all of which was Murray's doing, we went into administration. He is now no longer in charge of the club, I struggle to see what money he made out of the sale, and it has now been confirmed that the money he took from Ticketus, money he used to pay off our debts, he alone is liable for, not the club, not the oldco, just him.

Whyte is absolutely demonised
Murray gets off scot free a bit

Is there really that much difference between the two, are they not both a couple of chancers that lived off money that was never theirs and took big risks with the taxman??

What possible gain has Craig Whyte got out of this whole mess??

Murray was desperate to offload Rangers for years.....why?? To get a £50-100m tax liability off his shoulders perhaps??

aye, best interests of the club at heart indeed David.
Thanks for the glory years, but you didnt half fook us up in the last few years

Craig Whyte didnt demote us, didnt get the SFA/SPL's knickers in a twist, didnt have a say in the votes had by Scottish football about placement and all that, didnt make demands for TV money and put sanctions and all sorts on us...the SFA/SPL did that, through $hiting themselves about the state Scottish Football is in, how bad it would be without Rangers at all yet at the same time getting caught up in the media circus and having the mentality that Rangers should be severely punished for and all sorts for, in the end, just not paying a bit of PAYE, going through admin and not disclosing some info about EBT payments that warranted a fine and nothing more

I still want tae pop the kants eyes with a hot pocker

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St3vie - the simple fact is; Murray put in a LOT of his own money.
He didn't "take chances" with taxes - we paid every tax liability owed while he was in charge.
He took advantage of a tax loophole (which should never have existed in the first place, but it does...) and HMRC tried to take the club to the cleaners for it, despite the fact the BTC proved we were largely using it as outlined in THEIR OWN rules!

Murray is still lambasted by some supporters, but bar the fact he sold to Whyte (albeit with one arm twisted up his back by the bank), he by and large was only good for the club.

Look at transfer fees and wages in general nowadays, and you can see that he wasn't wrong to push our budget to it's limits...the only problem was our TV deal never came anywhere near to catching up with the wages and fees on offer elsewhere in Europe

Whyte on the other hand, paid a quid, mortgaged off OUR money to pay for HIS takeover, failed to pay tax liabilities, took our club into administration, brought his pals Duff and Duffer onboard to take the biggest slice of the pie, and somehow manages to walk away debt-free and without having forked out a penny more than the quid he gave to Murray.
The brass neck of the guy is bad enough, but he should have been hauled over the coals by now for what he did...

"Why do they continually call him a tycoon?"

You're reading it wrong. It's actually coonty.

Brooklyn

Murray took the chance of using the loophole that existed to a massive extent while being knee deep in debt.

The reason Rangers didn't settle like other clubs did was because we exploited the loophole to death and didn't have the money to settle with HMRC.

Your Arsenals and others of this world that used the loophole same as us, they managed to fend off lawsuits and a huge tax bill hanging over their heads because they had say £10m kicking about to get HRMC off their case, we didnt, and went all the way because of that.

So Murray did take chances with taxes, it was that bill hanging over our heads that caused a shed load of our problems, and the verdict on our use of EBTs is under appeal remember, its not cut and dried that it was all above board and could yet prove to be illegal

Saying Murray never took chances is just daft.......he took lots of chances, his budgets took Champions League income coming in every season, debt levels increasing at the bank without recompence and getting away with the tax liability on EBTs ALL FOR GRANTED when NONE of them should have been, so when the Champions League income didnt come in, then the bank, within their rights to do so, put a stop on the debt level being allowed and demanded it started to get paid back, and then HMRC got in about because we didnt settle the EBT argument out of court....thats when we were fcked, and none of that was anyone elses doing other that David Murrays mate

He wasnt wrong to push our budget to its limits, but he was wrong basing our budget on things that were NEVER guaranteed...and at the end of the day, if you cant afford something, you cant afford it, thats it in a nutshell, Europe was taking off, Murray tried to keep up, but in the end, he starting spenidng money we didnt have to do so, that was the mistake.....almost all of the rest of the SPL clubs did the same trying to keep up with the old firm and got into $hite, think it was only St Johnstone that really kept hold of the reigns of theri spending limits and kept to within them, teams like Motherwell, Dundee and latterly now Hearts, they've onyl got themselves to blame for getting into such a mess over the years

Yes Murray put a lot of his own money in, but he also ran Rangers from the bank, and not just Rangers, but a lot of his own businesses too. His whole MIH empire starting coming crashing down around his ears because his massive debt levels suddenly became a problem for the banks, and the bank he was with, HBOS, they were hit badly by the whole credit crunch thing and the guys running it have been lambasted in the past few weeks for being so utterly careless

Whyte didnt mortgage off our money to pay for his takeover, he fleeced Ticketus out of £20m and gave them personal guarantees himself and thats why he has been landed with a hug bill to repay them. Yes he was going to use our money to pay them back, but in the end, he has been left with that £18m liability and we havent given Ticketus a single penny back, and nor will we.

It was Duff and Phelps that terminated the contract Ticketus had with Rangers and set them loose to chase Whyte for the money, and they have caught him now.

As far as I can see he's walked away with nothing but an £18m bill for the money he fleeced from Ticketus, money that he used to get he bank off our backs, buy players and refurbish the stadium with.

It wasnt his money, but it is now seeing he's been left with the bill and he was the one that gave Ticketus personal guarantees, not the club.

Part of the money he was going to pay ticketus with is the season ticket money that Charles Green now has