Oldco, HMRC, Wishful thinking and the mystic king. (long OP)

[Greebo]

Under £20m combined. The problem was HMRC and that ludicrous figure that eventually crystallised at £94m - only for that to subsequently be shown as a fantasy figure as well.

And yes, I am aware, that in every case where HMRC were in a position to veto a CVA as they had over 25% of the debt then they inevitably do so. I guess the point I'm making is that had HMRC come to the Club with a realistic figure then a deal could actually have been done. There just wasn't the will to do so.

The ludicrous figure was in the papers, if I remember correctly the vote was dependent on the accepted tax debt and not that figure.

Re a deal, they got what they wanted, a ruling worth billions to them. And, unpalatable as it might be, to every taxpayer in the UK, as it forces people who decided not to pay tax into doing it. Nobody actually likes paying tax, however most of us do it.

 

[KennowayAli]

The first dividend paid out was 3.91 pence in the pound followed by a second dividend of 3p in the pound (para 6 of the December Report).

I'm struggling with your posts here due to the complete lack of punctuation mate, which is making them a bit difficult to follow. That's not intended as a dig, it is simply stating a matter of fact. So, I'm struggling to follow your argument on getting from under 7p in the pound to 70p in the pound. As I said earlier, you are presenting an unduly 'rosy' picture for which there seems little basis. As your thread title says there's a lot of 'wishful thinking' in there.

FWIW, I don't think King has any intention of bringing the Oldco out of Liquidation and nor does he need to. We'd be better focussed looking at WHY it was necessary for the Oldco to go into liquidation at all and the events surrounding that. The involvement of HMRC and their aggressive manner in pursuing the case and the actions of the Administrators and other personalities around the case are far more worthy of our time.

Thats cool pal sorryvabout the lack commas n full stops, i knew posting this last night it would have critical eyes on it i also got a ban last night too for some some reason but your input is most welcome pal and the reason why i posted this.

 

[Timardim]

I have long said this. I believe his involvement at them & wha5 happened was more than coincidence

John Reid dirty wee expenses fraud...?