Search the Community

Worthington Group are who effectively "own" Craig Whyte and Aidan Earley's claim on the RIFC assets. Also of note is the fact that the Liquidator appointed to Whyte's BVI based Liberty Capital sold Liberty Capitals holding in Worthington Group at 58p in a delayed notification trade one day before the shares were suspended. Wonder who the Liquidator is actually working on behalf of? http://ftalphaville.ft.com/2015/01/13/2085432/a-worthington-tale/?

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12241662.html

WOULD-BE Rangers saviour Dave King held court in Glasgow earlier today as he outlined his vision for the future of the crisis club. He sat alongside John Gilligan and Paul Murray, the men he hopes will join him on a new-look Rangers board before the end of the month. King is convinced he has won more than 50 per cent shareholder approval to remove the current incumbents, with Rangers expected to confirm the date of the general meeting by Friday. King, Murray and Gilligan answered questions for an hour from daily newspaper reporters at the offices of PR company Level Five. We publish part one of the full question and answer session below - all 4,000 words of it. Are you going to win the EGM? Dave King: “Yes. We have enough support. I am absolutely certain we have more than 50 percent even if every single shareholder votes, which is unlikely. We are well over 50 percent. We will win.” There has been a history of flip-flopping by institutional investors – are you certain there are no surprises coming? DK: “It has happened previously. Well, in some senses it has and it hasn't. Previously - and Paul (Murray) may be better able to answer than me because he was more directly involved - you can get a sense from institutional investors they are supporting you and then you interpret that as they will vote for you. However, when it comes to the vote their view is: ‘we’re not active supporters therefore we’re not voting, so we’re kinda with you intellectually and mentally and we agree with you but we’re not willing to vote’. “That has been taken out of the mix. The key event was the removal, the very non-strategic removal, by the board or the powers-that-be behind the board, of Norman Crighton. That was the single biggest tactical error that the board made because once he was gone the institutions said: ‘Look, that’s enough now, this is not being run on a proper basis’. That was the basis for the Three Bears being able to acquire their shares from Laxey and it was the basis for me acquiring shares. That became a turning point and if you look at it now, really other than River & Mercantile there is no real institution in there. So I feel very, very strong and solid about the current shareholder mix. If that hadn't happened I would have been in the same situation perhaps Paul was in (previously), where I certainly wouldn't have called the meeting with the same level of confidence.” No date has been called yet, do you expect them to stall or trip you up? DK: “I don’t expect it. It could still happen. The reason I don’t expect is that they have had almost 21 days and if there were any concerns about the technical aspect, whether the Is were dotted and the Ts were crossed, I would have thought I would have had some communication by now. It’s almost three weeks. I have had no indication of the board at all that there are any concerns with the requisition itself, therefore I expect that by the deadline on Friday they will announce the general meeting. “I have had no communication in fact whatsoever, directly or indirectly, with any of the board members at all since the requisition. There was just a request from (NOMAD) Paul Shackleton yesterday. He phoned me, and he asked if I was willing to negotiate a compromise and he made an attempt to suggest what he thought might be a way forward without calling a general meeting. But the alternative was far from being acceptable.” What was his compromise? DK: “It was about the existing four directors remaining and me getting a couple of appointments and a couple of independents, and ‘given that Llambias and Leach are really independents the board would be balanced’. It was really, quite frankly, a nonsense, a nonsense suggestion. It would just have created further impasse. We have had enough uncertainty I think. We really have to go forward with a different structure.” Did that phone call indicate they are hugely concerned? DK: “Well yeah. I said: ‘Look if you want to save the money you know what to do to save money. You have had long enough to look at the shareholders’ register, you know you’re going to lose, therefore I think the right thing for the board to do is make the appointments and resign, that’s the way to save the money, we don’t have to have the general meeting where it will cost £50,000-£60,000-£70,000, whatever, that’s money the club doesn't have to spend and the outcome I believe is a foregone conclusion’. So that is what I would hope they would do on Friday. I would be surprised if they would do it but I think it could be a responsible thing to do.” http://www.dailyrecord.co.uk/sport/football/football-news/part-one-every-question-every-5106662

The Sun saying he has been banned because he joined RF. Someone asking if Foster has joined yet.

Strapped in for yet another transfer window? Well, here we go! Graeme Shinnie (Left-back, 23, Inverness Caledonian Thistle) Max Power (attacking midfielder, 21, Tranmere Rovers) Express Graeme Shinnie on wiki

http://www.dailyrecord.co.uk/sport/football/football-news/jack-irvine-paul-murrays-more-5015233? THE Easdales have launched an astonishing attack on Paul Murray, mocking the former Rangers director and questioning his commitment to the club. A statement released by Jack Irvine, family adviser to the Ibrox club’s major shareholders, hits back at Murray for speaking out against the current regime in today’s Record Sport and savages him for being part of the board when former chairman David Murray sold the club to Craig Whyte for £1. Irvine said: “ So like an episode of The Living Dead, Paul Murray emerges from his borders lair having vowed never to return. He says he expects a smear campaign against himself and Dave King and in the same breath compares the Rangers board to Gerald Ratner. Hypocritical? You decide. “If Mr Murray and Mr King ever do get anywhere near the club they are welcome to carry out a robust financial investigation. The Easdale brothers have never taken a penny from the club and nor have they claimed any expenses. “One begins to wonder if we are not dealing with Paul McKenna as opposed to Paul Murray who appears to have hypnotised himself and his cohorts into obliterating the memory fact that they sold their beloved club for one pound. Rangers men? You decide.” In fact, former Deutsche Bank executive Murray launched an eleventh hour bid to persuade former David Murray against the Whyte deal. Forecasting the liquidation crisis which just over a year later brought the Glasgow giants to their knees, he said at the time: "In my opinion, Craig Whyte has not adequately demonstrated what his strategy is for managing and funding a negative outcome on this matter."

DAVE KING today insisted he will easily convince both stock market bosses and football chiefs that he IS fit to run Rangers. The former oldco director has called a general meeting to vote on plans to rout the Ibrox board. He will also ask the shareholders to vote in himself, former Blue Knight Paul Murray and John Gilligan as their replacements. The current regime - David Somers, Derek Llambias, Barry Leach and James Easdale - released a statement to the stock exchange on this morning insisting they would fight King's bid. In a thinly-veiled swipe at the Johannesburg-based businessman, they said: "The AIM rules require that all individuals appointed to the board of an AIM company are suitable to be a director of a UK public company." The Castlemilk-born millionaire was forced to hand the South African Revenue Services a cheque for £44million last year in a bid to stave off a tax investigation. SARS claimed he owned £149million but he was spared jail after accepting liability for 41 lesser charges in relation to income tax laws. Both he and Murray will also have to explain their part in the demise of the club after serving on the board under former owner Craig Whyte, who put the club on the path to liquidation in 2012, if they are eventually appointed as part of the SFA’s "fit and proper" person test. But King told PA: "There are no problems regarding the AIM regulations and the issue with the SFA is simple. Only once a director is appointed is an application made to the SFA by the club. "Both myself and Paul will have to deal with our previous directorship at the time that Craig Whyte got involved. Additionally, I will have to deal with my reasons for staying on the board and trying to impose some level of governance during the Whyte era. "I will also deal with my favourable settlement in South Africa. "These are all issues that the SFA rightly has to address in the same way that the SFA has to review the history of anyone who gets involved with a Scottish football team. "That was all considered by me prior to my application - as was the likelihood that the incumbent board will use the media to try to influence the debate by misrepresentation. "The enthusiasm that this board adopts to 'media management' and its failure to act in the interest of shareholders and other stakeholders is exactly why they should be jettisoned in favour of directors who have the requisite business skills and respect for the tradition of Rangers to take the club forward. "History will judge this board as one of the worst the club has ever had. There is not one individual who puts the club above personal interest." King hit back just hours after the board called on him to drop his general meeting and save the cash-strapped club the expense of hosting it. The board's 7am statement added: "If the notice (issued by King) is valid and is not withdrawn, the directors intend to recommend that shareholders vote against the proposed resolutions." In a second statement, the directors conceded they may have to consider using Ibrox as security on a loan - but insisted any decision would not be "taken lightly". Thousands of fans protested against that possibility before Friday night's abandoned clash with Hearts after it was revealed Newcastle owner Ashley was preparing to have his name added to the title deeds of both the stadium and Murray Park as part of a £10million loan arrangement. The Three Bears - wealthy fans Douglas Park, George Letham and George Taylor - had already announced they would increase their own loan offer of £5million - but would not ask for security on the stadium. The board added: "The directors are pursuing bilateral discussions with two parties who are both stakeholders in Rangers. "These discussions contemplate a significant amount of capital being available to the business on a long-term basis in order to enhance the squad which the directors believe is necessary. "A consequence of funding to this level is that, in reality, it may be necessary to use Ibrox stadium as security; such a decision would not be taken lightly. "No decision has been taken at the current time while discussions are being finalised in good faith. "The advance notice does not mean that security will be given, and the directors are adamant that it will not unfairly advantage the party with whom it was agreed. "The board will conclude a transaction, based on its merits, which it believes is in the best interests of shareholders as a whole in accordance with their fiduciary duty." http://www.dailyrecord.co.uk/sport/football/football-news/dave-king-ill-convince-stock-5005483?utm_source=twitterfeed&utm_medium=twitter

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12218547.html

EGM requisition has been delivered to Ibrox within the last couple of minutes. Statement klaxon to follow no doubt.

THERE was a rare moment of unity between Rangers fans groups and the Scottish Football Association when the governing body blocked Mike Ashley’s proposals to increase his stake in the club last month. Then, a Union of Fans statement spoke of the SFA having “done the right thing” in observing their rules on dual ownership by refusing to approve the Newcastle United owner’s bid to increase his Rangers stake from around 9 per cent to 29 per cent. Yet, those same supporters are unlikely to be so taken by the SFA obeying their articles of association should Dave King succeed in his mission to oust the current board. King revealed his intentions on Friday night when he requisitioned an extraordinary general meeting (egm). The South Africa-based businessman, Rangers’ largest single shareholder with a 16 per cent stake, is “confident” he can muster the 50 per cent shareholder support he needs to remove chairman David Somers, James Easdale, Derek Llambias and Barry Leach from their directorship. His plan is to replace them with himself, Paul Murray and John Gilligan. And therein lies the rub. At an egm, which the current Rangers board could stall for six weeks, King could expect the support of the 20 per cent stake controlled by the Donald Park, George Letham and George Taylor consortium. In addition, he is believed to have the ear of a couple of the hedge funds with a 10 per cent holding between them, while individual supporters whose share totals add up to a further 10 per cent would back his efforts to put the Ibrox club into the hands of supporters. That is all well and good, and Ashley deserves to be removed because of his callous disregard for the club and its followers in this week’s moves to gain security over Ibrox and Murray Park. The current board maintain this was in return for the £10 million loan Rangers need to see out the season. But it is important to look beyond Ashley’s game-playing and not forget how we arrived at this point. In the independent inquiry chaired by Lord Nimmo Smith under the auspices of the SFA, the old board were criticised for failing to blow the whistle on Craig Whyte as he sent the club on the road to ruin after taking over in May 2011. King was a member of that board. And it cannot be forgotten either that the reason King was in no position to buy the assets once the old Rangers had been condemned to liquidation the following summer, and save it from the clutches of Charles Green, was that the Castlemilk-born businessman was then in the midst of a decade-long legal battle with the South African Revenue Service. He settled last year by pleading guilty to 42 criminal counts of contravening the country’s tax laws, and kept himself out of prison by plea bargaining on almost 300 other charges, which required him to stump up £41m. As far as failing to meet the SFA’s fit and proper person test, King – who lost £20m he invested in the David Murray Rangers era – does so with bells on. Indeed, it is almost as if the ruling has been written to debar individuals with chequered business careers of King’s ilk. Under section (h) of Article 10.2 that sets out the “considerations” that would be made concerning the board “reserving its discretion” as to whether a person is deemed fit and proper to hold a football directorship, it is stated “[if] he has been convicted within the last ten years of (i) an offence liable to imprisonment of two years or over, (ii) corruption or (iii) fraud.” King was liable for a stretch longer than two years had he not plea-bargained. Moreover, he is caught in a double bind over the fit and proper person rules. Because what also counts against those seeking to meet the criteria is having “been a director of a club in membership of any National Association within the five-year period preceding such club having undergone an insolvency event”. King and Paul Murray – who was sacked from the Rangers board immediately after Whyte took over – both fall down on this basis. They simply cannot be granted permission by the SFA to take up directorships in any Rangers board if the governing body stands by their own rules, which were tightened up because they had failed to act over Whyte’s dubious business past. King constantly puts it out through sympathetic media sources that he is confident the SFA professional game board would wave him through as a Rangers director in the event of gaining a controlling interest. That sounds like bluster, which, as well as the baggage, has led to legitimate questioning of King’s credentials to lead Rangers out of the mire. At times, though, it must be said he talks a good game. As he did in his statement on Friday in which he claimed that, as well as putting the club on a sound financial footing, a second “important task” would be “to conduct a forensic audit of the management and commercial contracts undertaken over the last few years to determine whether they are truly arm’s length and whether the affairs of the company have been pursued in accordance with the fiduciary obligations of those entrusted with that responsibility”. King thundered at the end of this declaration of intent that “any malfeasance will be pursued aggressively and transparently”. For the South African tax authorities, that might read like a sick joke. http://www.scotsman.com/sport/football/spfl-lower-divisions/rangers-dave-king-s-move-faces-taxing-questions-1-3664643

http://sport.stv.tv/football/clubs/rangers/306606-mike-ashley-posts-intent-to-take-out-security-over-rangers-ibrox-stadium/

A number of companies run by Sir David Murray have signalled their intention to go in to liquidation. Notice was given on January 5 that six firms have presented petitions to wind up to the Court of Session, though the notices were only published by the court on Tuesday. The companies — GM Mining Limited, Murray Group Holdings Limited, Murray International Holdings Limited, The Premier Property Group Limited, Murray Outsourcing Limited and PPG Land Limited — have all appointed John Charles Reid and Christopher McKay of Deloitte LLP as joint interim liquidators. Sir David Murray stepped down as chairman of Rangers Football Club in 2009 and officially sold his controlling interest of shares in the club in May 2011 to Craig Whyte. The club subsequently applied for administration in February 2012 and then entered liquidation. The impact the liquidation of three of the Murray companies will have on the status of HM Revenue and Customs’ pursuit of the so-called “big tax case” is unknown. GM Mining Limited, Murray Group Holdings Limited and The Premier Property Group Limited were listed as three of the five “appellants” in the case, which was in the most part successfully defended by Murray at an upper tier tax tribunal in 2014. HMRC’s argument revolved around the use of employee benefit trusts which were used by the companies, including the Rangers oldco, which they alleged were used as emoluments to employees. Murray successfully argued they were loans which remain recoverable. The two other appellants in the case, Murray Group Management Limited and RFC 2012 plc - the Rangers oldco - are already in liquidation. A spokesperson for HM Revenue and Customs told STV: "We do not comment on identifiable taxpayers". http://news.stv.tv/west-central/306444-number-of-companies-run-by-sir-david-murray-set-for-liquidation/

SIR David Murray has broken his silence on the battle for control of Rangers by praising the efforts of Dave King and The Three Bears consortium to gain influence at Ibrox. But the club's former owner warned the club's cash position remains in a critical condition while uncertainty continues to hang over the ownership of the stricken Glasgow giants. While fans have welcomed moves by the Three Bears consortium - comprising wealthy businessmen Douglas Park, George Letham and George Taylor - and former oldco director King to amass 38.1 per cent of shares between them in recent days, Sir David fears little has changed. He claimed the stalemate between the board and those looking to take over is impeding the investment the club badly needs. Sir David, who famously sold Rangers to Craig Whyte for £1 in 2011, said: "The way I see it at the minute, and this isn't trying to be smart, is people have changed seats at the table. "But the fact of the matter is the club needs money and resources as quickly as possible. "Dave King and the Three Bears I'm sure have the right intentions for the club, but they must be in a dilemma about how they take it to the next stage when the other sides don't seem to be willing partners." He added: "I take my hat off to the people who are trying to do the right thing, and let's hope they're successful, but whatever way they are going to do it it's going to need more money." Sir David, speaking after a £20m takeover bid from US basketball boss Robert Sarver was rejected by the club, criticised the current board and its suitors for failing to come up with a strategy to take Rangers forward. He said: "I don't know what anyone is trying to do at the minute. I don't mean to be smart. What we'd like to see is Rangers in the hands of Rangers-minded people. But I wish someone would come out and tell us what their strategy is. "Is Dave King working solo? Are the Three Bears working solo? If they are, they are going to have to come up with some more money." Fans groups have voiced concern over Newcastle owner Mike Ashley's influence over the Ibrox Club. The Sports Direct boss has a 8.92 per cent stake in the business, control over the club's retail operations and has advanced loans to the company. Asked if he shared those concerns, Sir David said: "We don't know, do we? The problem you've got just now is that nobody is making statements. There is no strategy." Sir David also welcomed moves by supporters to buy shares in the club through organisations such as Rangers First but said the club's cash needs were more pressing. He also fears the club is losing supporters who may never come back. Sir David said: "What concerns me also is that a fair percentage of the hardcore [of fans] may have drifted now, and I don't think it will be like you turn a light switch and they will come back. "This will take time." http://www.heraldscotland.com/news/home-news/gers-need-cash-fast-sir-david-says.116118429

It’s good to see that HMRC’s latest failing - being unable to furnish costs of their continual and apparently relentless pursuit of Rangers over EBT’s - has galvanised the Rangers support into a long overdue unified sense of purpose. After a period of unhelpful adjectives and metaphors, which military men would aptly describe as “blue on blue”, we are at long last reminding ourselves where the real enemies of our club are, and it’s certainly not from within. It is not surprising that HMRC’s latest hypocritical incompetency, and I use that term deliberately in view of the fact we are talking about an investigative government agency who hold both private individuals and companies accountable for failing to keep meticulous financial records, has given rise amongst some of our fans to suggestions of a grandiose conspiracy. I don’t subscribe to such a conspiracy theory, and those who read this blog regularly will know that as far as I’m concerned “Evidence is king”. There appears to be little or no evidence available at this time to suggest any high level conspiracy, instead I will in the course of this article offer you an alternative evidence based theory to explain why HMRC’s pursuit of our club has all the characteristics of a witch hunt. Before dismissing such a conspiracy theory completely however it is worthwhile pointing out that the South African Tax Authorities have recently discovered what has been described as a rogue unit working within their organisation. Furthermore much closer to home, the families of the Hillsborough victims had to suffer considerable ridicule for suggesting that the Police were involved in some kind of conspiratorial cover up over events that tragic day. Several years later the 160 odd altered Police Statements and deliberate, false and malicious briefing of the press by the Police, are now a matter of public record and the subject of an ongoing enquiry. Therefore despite the absence of evidence of conspiracy perhaps the best course available to us is to at least keep an open mind whilst concentrating on the evidence which is available to us. Discounting such a conspiracy theory does not however also discount the ruthless nature of this enquiry, nor the attempts by HMRC to deliberately mislead the Rangers support during the course of it. It would come as no surprise to any of us if, in the near future evidence was uncovered which demonstrates HMRC have acted in both an unscrupulous, unprofessional and unedifying manner throughout the course of this enquiry. After all, it wouldn’t be the first time. http://blogs.telegraph.co.uk/finance/ianmcowie/100014676/2000-tax-dodgers-confess-but-should-hmrc-have-paid-for-stolen-information/ Some will note the particular irony of HMRC paying for stolen evidence, given the fact a considerable amount of evidence in the Rangers Tax Tribunal, ended up in the possession of BBC Scotland journalists and proved to be the catalyst to “The men who sold the jerseys” documentary. However the Redknapp case was not the only one which had brought the professionalism and competency of HMRC under a very public spotlight, leaving it’s investigators with red faces and questions being asked. https://www.accountancylive.com/cassidy-hmrc-should-eat-humble-pie-over-montpelier-case I doubt there is a Rangers fan out there who doesn’t feel a sense of the tunnel vision Mr Cassidy alludes to during the Montpelier case. It appears history may well be repeating itself as HMRC continue to pursue Rangers despite a number of failed appeals chaired by some of the most qualified tax experts in the country. These spectacular high profile failings and questions of competency, integrity and professionalism served to bring HMRC very much under an intense spotlight, most notably by the public accounts committee. http://www.theguardian.com/politics/2013/oct/28/hmrc-chiefs-mps-lost-tax http://economia.icaew.com/news/november-2014/pac-slams-hmrcs-anti-tax-avoidance-strategy So we have a government investigative agency, with a spectacular series of high profile failures, even despite indulging in some fairly unscrupulous means of obtaining evidence which in itself calls into question the very integrity of the organisation itself, under considerable pressure to re-dress their very public humiliation in a series of failed prosecutions. It certainly puts into some kind of perspective the relentless and ruthless nature of HMRC’s pursuit of Rangers. Quite simply after so many failings they simply had to get a result. But if HMRC were in a bit of a hole prior to and during the investigation, rather than stop digging as the age old saying goes, they appear to have taken the equivalent of a JCB to the situation. Apologies for the following paragraph in advance, as it deals mainly in conjecture rather than facts, but it is worth mentioning all the same. Despite HMRC’s claim to be unable to furnish the cost of the Rangers Tax Case, rumours abound of figures at or around the £10 million mark. Furthermore it is common knowledge that Sir David Murray attempted to settle with HMRC over EBT’s offering anything between 10-12 million pounds. Even taking the lower settlement figure HMRC are now looking not only at £10 million lost revenue, but also perhaps £10 million costs for pursuing a case against a company from whom they will be unable to recoup anything even if they were to eventually be successful in a forthcoming appeal. One wonders what the Public Accounts Committee will make of all this. Moving on from public accounts to public accountability and the HMRC JCB appears to have been working in overdrive to dig a bigger hole for themselves. http://www.dailyrecord.co.uk/sport/football/football-news/ex-rangers-owner-craig-whyte-being-3992415 Perhaps HMRC would care to explain to Rangers shareholders, and any other interested parties for that matter, why they allowed Craig Whyte, who they were already pursuing for a sum of £3.7 million and whom they had threatened with bankruptcy as a result of failed tax returns, to take control of an organisation and run it into the ground by failing to make PAYE payments for nearly 9 months. If you cannot hear the alarm bells by now, then you either are deaf or have your fingers, quite firmly, in your ears. HMRC’s JCB next wrong turn was in the form of a generic reply via correspondence. As thousands of Rangers supporters and shareholders wrote to complain about confidential tax documents and other paperwork appearing in the public domain, HMRC responded by asserting it did not comment or respond to speculation about alleged breaches of confidentiality. “Speculation”? “Alleged”? The subject of those complaints were The Rangers Tax Case Blog and the BBC Documentary “The men who sold the jerseys” both of which went onto win national awards, with the latter being broadcast on national television. Journalist Tom English described the Rangers Tax Case Blog as follows: “If you wanted to know the latest news on their tax travails, rangerstaxcase was a place you went because, unlike newspapers or radio stations, rangerstaxcase was connected to the heart of the FTT and everybody knew it. It had documents and detail that were beyond dispute. When illustrating one point it was making it would summon up information that could only have come from somebody within, or very close to, the tribunal” (The Scotsman 25.11.2012) Why have HMRC deliberately prevaricated and failed to respond to this clear breach of confidential information. How can they justify describing a national television broadcast and an award winning blog, whose plaudits and awards are based around the revealing of confidential information, as mere “speculation”? As others outside the Rangers community have since commented both these outlets of confidential information presented it such a way as to infer the guilt of Rangers FC. Was the same unscrupulous culture within HMRC which saw them buy stolen property in the Redknapp case alive and kicking also in the Rangers Tax Case – a kind of win at all costs mentality? Whilst the source and nature of those confidential leaks has been subject to many theories and discussions, confirmation about one of the sources was provided courtesy of Lord Nimmo Smith, in his SPL Independent Commission Report. "Meanwhile, BBC Scotland came, by unknown means, into possession of what they described as “dozens of secret emails, letters and documents”, which we understand were the productions before the Tax Tribunal. These formed the basis of a programme entitled “Rangers – The Men Who Sold the Jerseys”, which was broadcast on 23 May 2012. BBC Scotland also published copious material on its website. The published material included a table containing the names of Rangers players, coaches and staff who were beneficiaries of the MGMRT, and how much they received through that trust.” (Section 98) Perhaps not so much a case of “Who sold the jerseys” but more of a case of Who sold the evidence? That is of course the evidence, or as Lord Nimmo Smith terms “productions”, which was seized by HMRC during the course of their investigation into Rangers and which was presented before the Tax Tribunal. The question is why the removal of this evidence and its subsequent use in the BBC Scotland documentary aforementioned, was not the subject of a Police enquiry until after the verdict of the tax tribunal, when complaints by both Sir David Murray and myself saw the launching of a criminal enquiry. It raises serious questions about the safe handling and storing of productions, as well as duties and responsibilities of investigative agencies with regard to the loss or theft of productions. In particular it raises questions about how and why Lord Nimmo Smith was able to arrive at such a conclusions with regard to the source of the material which BBC Scotland subsequently came into possession of. http://www.v3.co.uk/v3-uk/news/1996757/cameron-promises-transparent-government It’s time for you to deliver Mr Cameron and the Rangers support will not rest until you do. We want a full government enquiry into this whole process and we will not rest until we get it. We will play to win – and win at all costs.

THE tax office has been criticised after saying it cannot give the cost of its five-year chase of *Rangers in one of the biggest tax claims it has ever pursued. Her Majesty's Revenue & Customs has said it would cost too much to find out the costs. The development has been described as "extraordinary" by Rangers fan groups which have accused HMRC of wasting public money in its "witch-hunt" in pursuit of a "phantom tax debt". HMRC has confirmed it will contest the decision of an upper-tier tax tribunal to uphold an earlier ruling on what is known as the Big Tax Case. That ruling said Rangers' use of employee benefit trust (EBT) loans to players and other staff was legal, and payments were not taxable, as Sir David Murray's Murray International Holdings, which formerly owned Rangers, has maintained. But the tax office is known to want to pursue the club as a matter of principle, and there is a *procedural hearing on its latest appeal on February 3. Many believe fear of the tax case led to Lloyds Banking Group *insisting £18 million in club debts were cleared, leading to the sale to Craig Whyte, liquidation, and eventually Rangers playing in the bottom tier of the Scottish Football League. If a fresh HMRC appeal succeeds, it will have no bearing on today's Rangers but fans have called for a Government inquiry into HMRC's handling of the case. Chris Graham, of the Union of Fans, the Rangers supporters *coalition, said of the HMRC response to queries over the case's cost: "This is extraordinary. Lawyers are *meticulous about things like that, they clock all the time they spend on a particular client. "There are question marks over why they are continuing to pursue this when we know they have been offered to settle." When asked what the costs were to date of pursuing the tax case HMRC, a representative said: "HMRC holds information that falls within the scope of your request. However, we estimate that it would exceed the FOIA (Freedom of Information Act) cost limit to deal with it." That limit, he said, was the cost of one person working for three-and-a-half days. He added: "Normally, HMRC would explore with you how you might be able to narrow or refine your request so that it did not exceed the FOIA cost limit. However, in this case, I cannot see any scope for doing this. "Even if we had been able to find and extract all the information in the scope of your request, we would never release anything which could be linked to an identifiable person; be that an individual, company or any other entity." HMRC says EBTs were used by more than 5000 UK firms, including football clubs in England. The Rangers case was seen as a way for the tax office to claw back many millions of pounds from their use. http://www.heraldscotland.com/news/home-news/taxman-will-not-reveal-cost-of-rangers-case.26228807

...to the Light at the End of the Tunnel. 08 January 2015 By Alex Mooney At some point in the near future a fledgling genius will be tasked with writing the definitive story of Rangers since Craig Whyte bought the club for a pound. It will be an act of folly. No one even remotely sane would dream of trying to separate fact from the fiction. That brilliant brain will eventually flounder and fry in the process. The problems are many. For a start, a trillion words have already been written on the subject. And that's just from thousands of Celtic fans who took crash courses and became lawyers, forensic accountants, tax experts (specialising in EBTs and Sporting Integrity), and insolvency practitioners. Meticulously sifting through that vast body of 'research' alone will be a Herculean effort. If this sorry tale has taught us anything it is that the obsessed only believe what they want to believe. Objectivity is non-existent in the Old Firm battleground where agendas, conspiracy theories and paranoia rule. There is only one truth for fanatics - theirs. Any book that attempts a dispassionate account would have to substantially include the shameful witch-hunt against Rangers which I wrote about on this site two years ago. Also of interest would be the Rangers Tax Case blog that acted as a hanging judge in the EBT tribunal then vanished into the night like a skulking dog when the taxman lost. Yet, astonishingly, it won an Orwell award. Panel members who thought a blog consisting of anonymous posters peddling bile, character assassination and using Stalinist censorship was worthy of a prize should be ashamed. The great man of letters who railed against totalitarianism so brilliantly can never have been so insulted and demeaned. What a travesty in his name. Of course, the bampots are still out there on the net toiling away 24/7 in pursuit of their obsession - killing Rangers. Isn't that odd, given they insist their great rival is already dead? Even some of the more prominent Scottish indy blogs are foolishly getting in on the act. In the run-up to the referendum their mantra was inclusion - we're all in it together and together as one the new Scotland will thrive. Apart from Rangers, it now seems, and the 'corrupt' SFA and mainstream media who are in cahoots in a masterplan to covertly run the country. This is unhinged nonsense and a pitiful attempt to suck people in to a divisive and vengeful agenda that has nothing to do with integrity. Or fair play. Or the state of Scottish football. It is simply a vindictive campaign against one club. Bigots masquerading as defenders of justice fool only themselves. It is also cowardly. The Ibrox club is on its knees and struggling for life after being pick-pocketed by a bunch of chancers and incompetents. It needs the support of everyone in Scottish football - especially Celtic fans whose team have been badly affected by Rangers' absence in the top flight. Yet the keyboard warriors are not only kicking a man when he's down, they are revelling in it. The handful of mainstream journalists who egg the obsessed on - and make a shilling from it - should take a serious look at what they are condoning. This poisonous agenda has no place in our lives and they have a professional responsibility not to feed it. So good luck to any aspiring authors out there - your book on Rangers will be howled down by the haters who, I fear, will bore us to death for many long years to come. What is important now is looking ahead and charting a path out of the shambles at Ibrox rather than endlessly analysing the past three years - history, and the courts, will take care of the charlatans who bled the club dry. The only consolation for fleeced fans is knowing that the snake-oil salesmen will go to their graves, their characters forever stained. The last AGM, conducted from a gazebo on a bitterly cold December day in Govan, was utter pantomime as the bumbling board members entered stage left to boos and vicious name-calling. Dignity was conspicuous by its absence as the grey clouds gathered ominously over that theatre of screams. Onlookers around the football world must have been shocked by what they witnessed as this once mighty institution washed its dirty linen in public. How many times has it been said the club had reached its lowest ebb - only for new depths to be plumbed? Surely that grim day was as bad as it can get? With Dave King and the Three Bears entering the fray, with others perhaps, I will take the risk of this coming back to haunt me and say the club really has bottomed out - and can now find a realistic way back to the top. Mike Ashley's involvement is puzzling. Did he ever have a genuine strategy for the club apart from selling the merchandise for a quick buck? The billionaire recluse could easily have bankrolled a recovery with loose change from his back pocket but chose not to. So why get involved at all? Perhaps he doesn't know either. Maybe all that money has gone to this head and made him a stranger to himself. What he must also do now is make himself a stranger to the club. Rangers returning to rude health is conditional, of course, on the new investors and board members being up to the task unlike their inept predecessors. But that shouldn't be a problem if they follow basic business rules. A plan to revive a football club isn't that difficult to understand - you reduce expenditure and increase income. That's it. It's called, dare I say it, Doing a Fergus. There can't be a Gers fan anywhere in the world who wouldn't welcome such a character coming into their club right now with a five-year plan. All it needs is an honest broker. The first step on the long and winding road is getting the fans onside - all of them. Without their backing there is no future. The only way that can happen is for the new regime to be open and honest. Supporters know there are massive problems and tough times before things get better. They can take that. What they cannot bear is being kept out of the loop. Trying to fool them with clever soundbites won't work. There has to be truth. Even if it's bad news, fans will respect the board for that - and back them. But you can't just ask for trust - it has to be earned by not treating them as outsiders. They are all part of the Rangers family so must be viewed as such. The fans also have a massive role to play among themselves. Once an honest regime is in place it will be time to heal the splits and unite. Common cause has to be found to get the club back to where it should be. Filling the stadium and buying season tickets has to be a priority. A solid future for the club takes precedence over personality clashes and point scoring. Trying to say with any certainty when this saga will end is fraught with difficulty but pressure is building on the board. They are running out of time and money. And even the dumbest of them must realise there is no club without the fans - who have lost all patience with those whose tenure can only be regarded as a complete failure. They must step aside soon. Once that happens the real rebuilding will begin and everyone in Scottish football can get back to some sort of normality. Bring it on. http://www.therangersstandard.co.uk/index.php/articles/current-affairs/334-telling-the-rangers-story-from-whyte-to-the-light-at-the-end-of-the-tunnel

.............................

All the links now seem to be coming transparent.

FORMER Rangers owner Sir David Murray and other directors will face no further action over the liquidation of the club's operating company, it has emerged. Former Rangers owner Craig Whyte is the the only former Ibrox executive to face legal moves to ban him as a director over the company's financial meltdown. Mr Whyte was banned from being a company director for 15 years in September after a judge heard his conduct in dealing with Rangers was "shocking and reprehensible". Whyte was previously banned from being a director for seven years. A second ban was sought by UK Business Secretary Vince Cable after Rangers' liquidation in 2012 and the subsequent liquidation of Whyte's firm, Tixway. The role played by all board directors of the club in the three years prior to the administration in of Rangers Football Club plc was looked at by the Insolvency Service's Investigations & Enforcement Directorate. The conduct of Sir David Murray, Rangers legend John Greig, former chief executive Martin Bain, former director Dave King and chairman Alistair Johnston all came under the microscope - but it is understood no further action is to be taken against anyone else. The Insolvency Service had two years from the point of insolvency in February 14, 2012 to start proceedings. But action has only been progressed against Mr Whyte over that period. The legal move to disqualify Mr Whyte came after a confidential report was submitted to the Department for Business Innovation and Skills by the Insolvency Service's investigators within six months of the club's operating company going into administration. The Secretary of State then decided it was in the public interest to seek a disqualification order over Craig Whyte only. Action can be taken against directors if their conduct has not been satisfactory leading to the disqualification of directors for periods of between two and 15 years. After the two years has expired, disqualification proceedings can only then be made against further individuals with a rare special application to the court and agency insiders say there has to be a "strong argument". However it is understood that there no such application has been made. That means that Mr Whyte is the only executive to face action over conduct from the liquidation of RFC 2012 plc, the new name given to the original operating company Rangers Football Club plc. Mr Whyte, who took over Sir David Murray's majority shareholding on May 6, 2011, was in 2000 disqualified to act as a director of for seven years. The investigators examined the £9 million PAYE and VAT debt to the taxman amassed when the oldco under Craig Whyte's leadership went into administration. Insolvency experts also said directors can be found guilty of misfeasance by giving ownership to someone who was not a fit and proper person. Mr Whyte bought Sir David Murray's majority shareholding in Rangers in May 2011, raised £24 million through selling off the rights to three years of supporters' season ticket money to London-based Ticketus to help complete his £1 share purchase agreement take*over of Rangers and pay off the club's £18m debt with Lloyds Banking Group. An independent Rangers board committee set up to review takeover offers, delayed Mr Whyte's buyout and expressed concern over "a lack of clarity" over the new owner's financial muscle, hours after he had completed his buyout. The committee was led by chairman Alistair Johnston, who was removed from the board later along with Paul Murray, who had launched a late rival takeover deal. The following October Rangers' non-executive directors, John Greig and John McClelland, who were members of the independent board, resigned from their posts at Ibrox saying that they had been isolated following Whyte's takeover. Mr Whyte was given the maximum ban possible in September following a petition raised on behalf of UK Business Secretary Vince Cable after the operating company went into liquidation. Lord Tyre said in a full judgment that Mr Whyte's conduct of the business was "characterised by dishonesty" in a case that "can be regarded as quite out of the ordinary". He said the Ticketus deal funded his acquisition of the club while failing to inform the members of Rangers' independent board committee who were tasked with negotiating the sale of the company. Lord Tyre said Mr Whyte "misrepresented" to them that the funds for purchase of the company were to be provided from his own resources and from the commercial activities of his British Virgin Islands- based Liberty Capital Limited firm. http://www.heraldscotland.com/news/h...gers.114970599

http://www.cfclatest.com/2012/12/28/richard-gough-are-gers-trying-to-force-others-out-of-the-door/

...they are also entering the eye of a potentially devastating storm. AS Rangers hit rock bottom, KEITH looks back at another nightmare year for the Ibrox club and warns that 2015 could be even worse. ANOTHER horrible Ibrox annus. Yes, Rangers have been blighted by a long list of them in recent times but, even so, 2014 will go down as a year of unrelenting trauma which has brought this basket case back to the brink. The New Year is not yet upon us but already Rangers are running out of time. There are just days now for the current regime to extricate itself from an impending insolvency because, having loaned £3million from Mike Ashley just to limp into the festivities, they are left with little more than pockets full of spare change. And so 2015 will begin in almost exactly the same way as 2014, with a bunch of bedraggled directors scrambling around at the top of the old staircase desperately attempting to secure lifesaving hand-outs. Only the names and the faces change but the crisis which these men have bestowed upon this club remains constant, as does the shadow it casts across the landscape of the Scottish game. Granted, it might not have reached as far north as Inverness where yesterday Aberdeen’s red army rolled into town to battle it out for second place in the SPFL top flight. And yes, the good people of Dundee are enjoying their football more this season than they have done in a long time. With Hearts back in such rejuvenated form that they took 7500 fans to Livingston with them on Saturday and Hibs are also taking impressive shape under Alan Stubbs. There are undoubted green shoots. In fact, it could be that the worst of the nuclear winter is over. That Scottish football is adjusting and getting used to life without a relevant Rangers. Ironically, it is Celtic who are pining the most, even though they are the one club in the country with the financial muscle to withstand just about any kind of unilateral collapse. Life without a significant other has taken its toll on the champions, who continue to dominate the domestic scene while doing little more than going through the motions. Only in such an environment of apathy would professor Ronny Deila be able to continue his experimental approach to the science of winning football matches. In more normal circumstances, had the Norwegian returned from the lab with a 0-0 draw at home to Ross County he would have been feeling more than just the heat coming off his bunsen burner. It is precisely because Delia is operating in a vacuum, devoid of the intensity created by ferocious competition, that he will continue to make unnecessarily hard work of winning this title before shouting ‘Eureka’ when the job is done. But over time Celtic may nurture new rivalries, especially if the North East revival should build up a head of steam. And that’s probably just as well as the next few weeks seem set to determine if Rangers are ever to become recognisable again or if indeed they are locked into this downward spiral of perpetual self harming for good. Or at least until they reach an inevitable end. Right now it would seem like a mercy killing if this Rangers, in its current form, was to be released from its misery. It’s as if they exist now only to humiliate themselves. It was four years ago that Craig Whyte began battering on the doors of the boardroom and ever since his pointy buckled shoes first stepped across the threshold, the place has become a sanctuary for scoundrels. Between them these people have unleashed a chaos like no other. A toxic slurry of administration, liquidation, groping Yorkshire hands, secret videos, missing millions, police probes, arrests and now impending court cases. Is it any wonder that for many Rangers fans the actual football has long since become an irrelevance? But there are thousands more who continue to focus only on what they see on the pitch. And on Saturday, as Kenny McDowall began his duties as caretaker manager with a 4-0 thrashing at Hibs, they too hit rock bottom. Finally, perhaps for the first time, all sections of this club’s fractured support are united in utter dismay and embarrassment at what their club has become. And as Rangers stagger forward into another year they are also entering the eye of a perfect and potentially devastating storm. The numbers are dropping away to such an extent that a business which was already broken and suffering unsustainable losses, is exposed like never before. In its current state, it may even be irretrievable. The next few weeks will determine the fate of this club. An offer for £6.5m worth of funding has been tabled by three wealthy Rangers fans, Douglas Park, George Letham and George Taylor, and proof of funding has also been provided. But although this appears to offer an easy solution, it is far from a done deal. First, it will require the approval of a board which, up until now, has gone to extraordinary lengths to keep such well-meaning investors at arm’s length in order to cling on to control. Also, this cash offer may well be conditional not just on two seats on the board but also upon Park, Letham and Taylor being allowed to look under the bonnet of Rangers and examine the actual depth of the current financial crisis. If so, it is entirely possible that any one of this trio may be sufficiently horrified as to be scared into having some serious second thoughts. Then there is the unpredictably enigmatic Ashley. Just where exactly does he stand in all of this, after bulldozing his way into control of the boardroom, where his man Derek Llambias now sits at the head of the table as CEO? Is the Newcastle United owner prepared to roll over and obey the commands of the SFA who have taken an aggressive stance against his attempted power grab? Or is he about to turn his tanks on Hampden and take what he wants in any case, underwriting a share issue and increasing his stake to 29.9 per cent? His total lack of feeling for Rangers coupled with his contempt for governing blazers may be such that he is prepared to call their bluff where threats of revoking the club’s licence to play football is concerned. Ashley may well believe they simply would not dare but this would be the ultimate high-risk strategy and, given the millions he makes from selling Rangers merchandise, it might prove too big a gamble to take. Even for a man with the deepest of pockets. But, despite his wealth, there seems little logic in Ashley continuing to throw millions of pounds of loans into an ever-widening black hole just in order to keep Rangers breathing while its customers revolt against him. It may be a great deal easier to have the club tipped back into administration, one which he would be able to control as the club’s major creditor. Either way the SFA have drawn a line in the sand where Ashley is concerned. They have seen proof of funds from Park, Letham and Taylor and are satisfied that Ashley is not, as the Rangers board describe him, the only show in town. If Rangers chose to proceed with Ashley then the SFA’s Judicial Panel will step in and thousands upon thousands will be drained from the game’s coffers and given over to lawyers all in the name of sorting out yet another Rangers-made mess. New Year, same old story. But, one way or the other, January is likely to bring a defining moment to this exhausting narrative. http://www.dailyrecord.co.uk/sport/football/football-news/keith-jackson-rangers-stagger-another-4886939

Not only do we love to do names, we have become adept as a support at pigeon holing people. “****”, “Fan ****”, “ “Pro board” “Anti board” “The enemy within”, not forgetting the latest addition from the AGM - “Rats” - there seems little room for manoeuvre for those confused bears who wander around in a kind of no man’s land not knowing how to take the latest serving of propaganda from one of the various groups. In fact some would have you believe you are the “enemy within” if you dare to occupy that no man’s land, or more accurately, don’t agree with their viewpoint. I’ve never been a fan of emotional, descriptive terms to stir up feelings – they are a very poor substitute for cold hard facts. Ally’s shambolic departure was the perfect case in point. Some felt it necessary to leap to his defence as some kind of weapon against the board, whilst others indulged in less than complimentary negative emotional language. The sum total was to exacerbate an already extremely messy situation. I understand some even planned to sing “Super Ally” at the AGM in an effort to shame the board – you know at that point to wave goodbye to rational thought and reasoned thinking. A quick glance at our financial accounts, or the state of our club overall would tell you that we don’t need to sing songs glorifying a manager who has failed comprehensively to shame this board, the state of our club and the way they have “governed” is an indictment in itself. The masochist in me delights at mentioning our on field problems, only because they serve to remind us we are a football club and not a soap saga, though it’s hard sometimes to differentiate in this day and age. But for a support already disillusioned with off field events the added component of a failing team only compounds the problem. It not only rips into but comprehensively invades the world of the supporter who cares not a jot for boardroom politics and falling attendances along with absent season ticket holders bear testimony to that. It is a dangerous concoction and one any normal board would do well to take cognisance of. Of course some of us have seen it all before. It took David Holmes and a considerable amount of cash as well as revolutionary thinking to remedy the situation. Whether there is such an “out of the box” thinker or the necessary cash today is open to debate. What is not open to debate is the debilitating effect of the omnishambles both on and off the park and sadly, I see little or no evidence to suggest that it is being addressed. So as you sow, so shall you reap. Rangers is not a business, nor merely a football club it is way of life for so many of us. It’s not just about success on the park, it’s about the way the club conducts and carries itself, it’s about the standards it sets and seeks to uphold. We don’t wax lyrical about the “Rangers Way” for nothing. I’ve mentioned Harry Reid previously, an Aberdeen supporter who contributed to the book Born Under a Union Flag. Harry contributes much of the eroding of our standards and identity to the Murray years. “A club’s identity, or, to be more highfalutin, its soul, is a particularly precious thing. Forfeit it and you lose everything. If a club becomes the plaything of over-ambitious folk who have no understanding of it, there is serious trouble ahead. If it becomes the plaything of people who have no knowledge of its traditions and its values, then the trouble can be noxious.” I’d respectfully suggest we are now at security state “noxious” to use Harry’s words. If I had a pound for every Rangers fan who has said to me our club bears little semblance to that which they grew up with well we wouldn’t need a lottery winner to have a Rangers man in charge. I even know of one dyed in the wool bear on Gersnet forums who even muted starting up all over again, such are the levels of disillusionment. I’m reminded though of a chapter from Mary Pyper’s book “Writing to save the World”. She speaks of people displaced from the corridors of power, disempowered from the decision making processes, watching forlornly as, in some cases, their country’s become a mere shadow of what they once were. But rather than surrender or acquiesce to the unacceptable standards being foisted upon them, she directs the reader to those who have struggled to keep the social and moral conscience of their nation alive and in doing so ensure that the flame to which so many aspire to is never extinguished. It is up to us, the Rangers support to do this. We have to carry that mantle, because quite simply there is no-one else fit for purpose at this moment in time. The standards and values we cherish so dearly should be applied to one and all consistently, without fear, without favour and without malice, these are the standards we were raised with and safeguarding them together, I dare anyone to try and take them away. The greatest threat to that flame being extinguished is not from the SFA, the media, or any number of Rangers haters, the clear and present danger comes from ourselves and our inability to apply those standards we value so much, towards one another. “There is more power in unity than division” (Emanuel Cleaver)

Apparently today's top table location...

International Football Club plc ("Rangers" or the "Company") Scottish Professional Football League Limited ("SPFL") Claim. The board of the SPFL has determined that Rangers Football Club Limited (the "Club") is liable to pay the EBT Commission fine of £250,000 levied on RFC 2012 PLC (previously The Rangers Football Club plc) (in liquidation) The SPFL has also decided that this sum will be recovered from the Club by the SPFL withholding broadcasting money and other sums due to the Club but which are paid in the first instance to the SPFL. An appeal has been lodged with the Judicial Panel of the Scottish FA which has confirmed that the decision of the SPFL is suspended pending the outcome of the appeal subject to the SPFL's right to object. The Board is advised that the sum is not due to SPFL and the appeal will be pursued vigorously.