09 Apr 2012 22:05:09
No it doesn't make him poor , his personal wealth and the companies wealth are two separate things , a company is a seperate legal personality in law therefore both separate entities.
I think that is what the poster meant mate. The fact that murray personally, is worth over £100million, yet the companies he owns are £600million in the red, but, at the end of the day, if the companies go bust - he is left with his £100million
It means he's drawn massive wages while his companies have lost millions but he knows they can't touch his personal fortune when MIH go burst ! Just like he's done to rangers !
I believe the highest offer under a CVA will be 25 million or so, assuming CW has 30 million secured, I work out HMRC and the other creditors get zero. If there is no security then I can not see both HMRC and Ticketus agreeing to approx 15p in the pound. At least one would pursue other legal options against the trading company.
These are not the figures that someone made up earlier
Debts are one thing, assets are another. MHI has assets and value and is made up of a number of companies. Also, this debt is also due mainly to the credit crunch, prior to this, they were successful companies. This also relates to the timing of the bank putting pressure on Rangers.
He's worse than that:
And I am sure his assets easily exceed his 600m debts. I used to believe wealthy people had more money than they owed, that decent people paid their debts and that good business men looked ahead and put money aside for a recession. Not really having a go at SDM but more of a point about the spivs running football and business. Also why our club should try something different, large fan based ownership, youth investment, style of football, charity affiliations, take the best bits of ajax, barca and other clubs, rather than more barra boys paying 30k a week to overrated europeans
By the way, the -£600m is net book value.
His personal wealth was much larger few years back
MIH accounts say they took £4m in player sales profit in the final 10 months of tenure of RFC before CW.
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