Mcoist offering to work for Food

[russell]

Ally Mcoist has offered the Administrators of Rangers to work and only pay his food bill.

The administrators have rejected this and said they will continue to pay his 200k a month salary as it is more cost effective.

[bobspud]

Don't forget Administration is a legalised form of theft from creditors.

One day XYZ ltd realises they can't pay the bills because there's not enough in the pot.

So they appoint an administrator that looks at the books for as long as possible until there is absolutely nothing left then winds the company up...

[russell]

Don't forget Administration is a legalised form of theft from creditors.

One day XYZ ltd realises they can't pay the bills because there's not enough in the pot.

So they appoint an administrator that looks at the books for as long as possible until there is absolutely nothing left then winds the company up...

What happens if they can't pay their tax though. I have asked on here about that before and people said they can go after your personal stuff, does this mean they will go after the Whyte's houses etc?

[Zoiderman]

What happens if they can't pay their tax though. I have asked on here about that before and people said they can go after your personal stuff, does this mean they will go after the Whyte's houses etc?

Tax bills get burnt too, unless the Administrators take him to court to show he didn't act with fidiciary care, and did something illegal, where he can be asked to pay some money.

Doesn't normally happen though. HMRC are just another creditor.

I know a contractor who phoenix'd his company and waved away £43k worth of Corp tax owed.

[amcdonald]

Don't forget Administration is a legalised form of theft from creditors.

One day XYZ ltd realises they can't pay the bills because there's not enough in the pot.

So they appoint an administrator that looks at the books for as long as possible until there is absolutely nothing left then winds the company up...

It's worse than that, some then sell the companies asset through a close company and buy them themselves at bargain prices

[bobspud]

Tax bills get burnt too, unless the Administrators take him to court to show he didn't act with fidiciary care, and did something illegal, where he can be asked to pay some money.

Doesn't normally happen though. HMRC are just another creditor.

I know a contractor who phoenix'd his company and waved away £43k worth of Corp tax owed.

Used to be a common problem. HMRC are getting more proactive on it, but I know at least two guys that owed many 10,000's until the appointed administrator got in the way and told HMRC to go and sit in the corner with the other creditors...

One guy got rid of 60k CI/NI & VAT in an afternoon.

[Zoiderman]

Used to be a common problem. HMRC are getting more proactive on it, but I know at least two guys that owed many 10,000's until the appointed administrator got in the way and told HMRC to go and sit in the corner with the other creditors...

One guy got rid of 60k CI/NI & VAT in an afternoon.

The guy said he was all freindly with the administrator, and that the meeting waiting for HMRC to show up, was the longest 20 mins of his life, as he owed a fair bit.

He also said it all felt a bit hookey though, and that the Insolvency Practitioner seemed to be a bit arthur daily.

Not too sure I'd have the conjones to try it on.

[DodgyAgent]

The guy said he was all freindly with the administrator, and that the meeting waiting for HMRC to show up, was the longest 20 mins of his life, as he owed a fair bit.

He also said it all felt a bit hookey though, and that the Insolvency Practitioner seemed to be a bit arthur daily.

Not too sure I'd have the conjones to try it on.

Do you mind? If you are going to use my alter ego please at least get the spelling right.

ARTHUR DALEY

[shaunbhoy]

Not too sure I'd have the conjones to try it on.

Nor the brains.