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Monday, 2 April 2012

Rangers closer to liquidation as tax tribunal decision nears

Things have gone quite well for Rangers recently with a reasonable performance on the pitch, the administrators sounding confident that the business could be sold and even some bills have been paid off.  But it is now only a matter of weeks or maybe days when the decision from the 1st tier tax tribunal is announced regarding the use of tax avoidance measures by the club in using Employee Benefit Trusts (EBTs) to pay players.  The potential bill is likely to be £49m.

All the potential buyers of the club, Paul Murray's Blue Knight's consortium, Club 9 Sports and a party from Singapore ( that has not been letting on much about their intentions) have not ruled out putting the club into liquidation. if this happens

Still we think the most likely result is that the club will exit the administration via a CVA.

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