Rangers final debt to HMRC stands at a mouthwatering £94,426,217.22.
The incredible figure has been revealed in the final report to creditors produced by Duff & Phelps who were appointed administrators in February by Craig Whyte.
Despite the initial claims of Duff & Phelps about avoiding liquidation the former football club will formally be wound up on October 12.
HMRC rejected a proposed CVA put together by Charles Green in June with the full extent of the tax bill given in section 13.8 of the report produced by Paul Clarke.
It reads: “The Joint Administrators have continued to review the claims made by HMRC in the administration. The claims are largely made up of determinations issued by HMRC in accordance with Regulation 80, penalties and outstanding PAYE/NIC. The Joint Administrators have adjudicated on these claims and confirmed to HMRC that for voting
purposes, their claim will be admitted for voting purposes at £94,426,217.22.”
As well as HMRC hundreds of businesses across Glasgow have lost out including St Andrews Ambulance Service and Strathclyde Police.
The report comments on Lord Nimmo Smith’s upcoming inquiry into dual contracts and reveals that Rangers received a payment of £519,200 from the SPL whilst in administration.
Looking ahead to the formal winding up of the club the report states: “As noted in the last report, there are certain remaining issues relating to the Administration trading period which are being finalised and will either be concluded by the Joint Administrators or during the Liquidation by the proposed Joint Liquidators, Malcolm Cohen and James Bernard Stephen, of BDO LLP.”
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with a bill so large surely the sale of stadium trainng ground and carpark for such a small amount must be illegal.to put it another way. you can`t have a fire sale before an arson investigation
How are the MSM reacting to this? I just had a quick look on newsnow rangers and there is no headlines of it anywhere.
sweep sweep.
I’m sure Chico will take care of the bill as he is keen to keep ALL Rangers previous history intact LOL
How big is the final bill from Duff & Dumber ?
I’d make them account for every single penny and then justify it…scandalous the way they have operated.
Bertiechap feels Charles ‘Sociopath’ Green’s proud pronouncements about newco (necro?) being debt free should be viewed against the backdrop of this shameful debt.
I noted item 7.1 which claims that the “HISTORY” was sold to Newco on 14th June. That’ll include the outstanding debts then, eh?? Unbelieveable.
7.1 A detailed outline of the marketing process undertaken by the Joint Administrators which preceded the sale of the business, history and certain assets of the Club to Newco on 14 June 2012, was provided in the previous report to creditors dated 10 July 2012.
Anyone order a large bucket of whitewash?
Ah it’s you Mr Green…err…sorry we need the money up front or I’ve been instructed to take it back to depot. I’m sorry but…well you see…you and your club have a reputation for being well…cheating, lying B@stards and my other clients at the SFA H.Q have more need of it than you; and they will pay dearly for this amount of whitewash.
”What’s that you say? Will I take an I.O.U?
No Cance!! Goodbye!
”Hello. . .Mr Regan…I have that large bucket of Whitewash you wanted. Yes I’ll bring it round to the back door like you instructed. You might want to share some of it with Ibrox they are in dire need of it. . .just saying is all. Touchy fellow!
Now where’s that big brush, sweep sweep sweep
Jim Traynor ha ha
Chick Young Ha Ha
Ally McCoist Ha Ha
Walter Smith Ha Ha
David Murray, your going tae jail
Whyte knight, you’ll be in the same cell.
Question for the above two?
Who is going to play Daddy and who is gonna play Mummy…just sayin like ;0)
curious to know what that payment was for??????????????
“The report comments on Lord Nimmo Smith’s upcoming inquiry into dual contracts and reveals that Rangers received a payment of £519,200 from the SPL whilst in administration”….collusion??
Given the history of cover-ups regarding that club which used to be called rangers, I can’t help but feel they are going to walk away from this again. Too many corrupt people in the sfa and spl alike stand to be outed otherwise. Then again, didn’t they say “we don’t do walking away”?
This said, they never said anything about not runningaway like Naismith, Davies, Jellyfish, Wylde, oh boy, there must have been some sort of stampede there and I can’t even remember half of the runners names!
I really believe they are going to get off though and hope I am wrong, or the game in Scotland is even more doomed.
Thieves and con men. I hope those involved are jailed and made to pay back every single penny.
Very large number to coverup £94 million plus. As expected the Scottish will do a sweep sweep job on this story it was only hospital schools and armed forces that suffered.
Would it be possible for Sevco fans to look at this figure and feel any remorse at all. Can any of them see what a disgraceful and corrupt club they once supported. Will HMRC be dismissed as bigots or will an Orange away strip be far more important.I am totally disgusted that some people in Scotland will believe nothing has changed and they were just allowed to dump their debt and continue as if everythiing is the same.Repugnent Mob.
a new set of secure payment rules must be drawen up in Scottish football.Payment in advance,your clubs support want 2000 tickets ok give us the cash and if you dont sell them we give back the over payment.as for shared gate reciepts payment to clubs must be made whithin X days maybe 7. trust me ,this will sort out dodgers.
There’ll be more than a few disgruntled funny handshakers in the lodges the night.
“Large gin and tonic please Cyril, and do put any spare change in Charlies hat”
Sadly what we all thought would happen but didn’t really think could happen is going to come to pass. The SFA etc will blithely ignore findings and proceed as if nothing happened. Chuck will continue to spout his bile. Sally will continue to posture and point. MSM will report none of it and most disturbingly the guilty parties at SFA Ivory Towers will carry on like nothing has happened. Jobs will be safe and pensions intact. Disgraceful and a sad indictment of the state of Scottish football. Corrupt doesn’t even come close
That’s eight Tore Andre Flos!!!
KIN ELL!
The Ryder Cup in 2014 will make up the shortfall 😉 Seriously, it’s disgusting that amount of money has been stolen from the treasury’s coffers.
Shameless!