ian1964 10,720 Posted March 8, 2012 Share Posted March 8, 2012 PAUL MURRAY has admitted he remains on board to table a proposal to take over Rangers. The former Ibrox director, who has the backing of fans’ groups and some serious financial players behind him, is in pole position to take over the club. The administrators have invited “best offers” from interested parties by March 16 and says he is “working flat out” with the administrators on a Company Voluntary Arrangement. He said: “I’m working on the CVA proposal as the way forward and obviously that’s in the best interests of the club and that can change the club. “We need to settle our debts, but at least that enables the club to emerge out of administration in a new form. “CVA basically interns the company and the club in its present state and is a negotiated settlement with the creditors that Rangers have got and would enable Rangers to emerge from administration. “I’m working with administrators flat out on a CVA solution to this particular issue. Any insolvency process is very complicated. “The administrators are three weeks into the process and working through some pretty complex legal situations. “But I’ve met with them twice and they’ve been pretty helpful in terms of giving infor-mation and they’ve also been set a date of the March 16 to get to the first round of interested bids and I fully intend to be making a proposal on that day.” Murray last night cancelled a string of media appointments to continue talks with his advisers. 0 Quote Link to post Share on other sites More sharing options...
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