Rangers FC lodge papers to go into administration

Savage Tyrant wrote: »

Surely the BTC hinges on the existence of these side letters though?

lubo_moravcik wrote: »

Did you buy a black and red scarf? A rosette?? Donate to The Fighting Fund???


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“The view that the SPL took was that there was sufficient evidence to indicate that the way that Rangers had been paying their players was via a dual method, the payroll and EBTs, so there was a case to answer for,” says David Roberts, of the legal firm, Olswang, that represented Bill Miller during his bid for the Ibrox side and held discussions with the SPL. “What Duff & Phelps said to us was that there may be some reticence pushing the investigation forward because a beneficiary of the EBT payments [Campbell Ogilvie] was now on the SFA board, but we saw no evidence of that. My genuine belief was that this was an issue that gave rise to a potential breach of the rules and the SPL were discharging their governing body duties by looking at it. It may also breach the SFA rules as well. It was something being taken very seriously by the authorities.”


http://www.heraldscotland.com/mobile...de28763ff332d8

bobbysands81 wrote: »

On the one hand you don't think that the folks paid £49m in EBTs by RFC returning that money would do any good but spending a few quid on a rosette does???

CHARLES GREEN claims he has struck a deal with the taxman to take over at Rangers – and in a separate move says he will meet Celtic chief Peter Lawwell on Monday.
Preferred bidder Green says he has reached informal agreement with HMRC over the partial repayment of Rangers’ debts through a Conditional Voluntary Agreement (CVA).
And in what will be seen as a highly significant move, he says he will meet Lawwell ahead of a summit of SPL clubs.
The SPL meeting on Wednesday will discuss what sanctions will be imposed on Rangers if Green fails to get his CVA agreed and the club have to be re-constituted into a new company.
Former Sheffield United chief executive Green said of the planned CVA: “HMRC have given us the nod but we need it in writing.”
Letters to the club’s creditors seeking agreement to the CVA – which will see £8.5million distributed to Rangers’ creditors – are due to go out on Monday.
Green said: “We are in the very final stages of completing the CVA and that’s expected very, very shortly.”
Green is the first of Rangers’ would-be buyers to seek a meeting with the other side of the Old Firm.
Lawwell is under pressure from some sections of the Celtic supporters to press for heavy sanctions against Rangers if the Ibrox club go down the newco route.
But Green is likely to appeal to Lawwell to do the opposite should the CVA fail to come about.
Meanwhile, Green launched an attack on both Craig Whyte and former owner David Murray’s stewardship of the club.
He said: “The problem with the club historically is there has been no corporate governance.
“There was no accountability, no corporate balance.”
He said he will appoint independent directors to the Rangers board, including wealthy fund manager Stephen Adams, a Gers season ticket holder.
Green said: “What we need to do is get people who haven’t got shares on the board so they are not influenced by the share holding.
“When they make a decision then it’s made on the basis of what is proper and what is right, not what is in David Murray’s interest or that of David Murray holdings or in the interest of Craig Whyte.”
Watchdogs probe Duff & Phelps
WATCHDOGS last night launched a probe into Rangers’ administrators Duff & Phelps.
The Insolvency Practitioners Association are looking into claims of a conflict of interest made in a BBC documentary.
The programme suggested Duff & Phelps partner David Grier knew Craig Whyte paid for the club by mortgaging future season tickets to Ticketus.
Duff & Phelps deny that are now taking legal action against the BBC.
An IPA spokesman said he could not comment on an ongoing investigation. But a source said: “The IPA are making itself aware of all the circumstances. The allegations made in the BBC documentary are very serious and questions need to be answered.”
Joint administrator Paul Clark said: “We positively welcome any investigation by the IPA. This will enable the true facts to emerge.”