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SBD Global/June 13, 2012/Franchises
SPL Rangers Face Liquidation After Tax Plan Turned Down
Published June 13, 2012
RAPID VIENNA OPPOSE: In London, Ewing Grahame reported that Bundesliga's Rapid Vienna will send lawyers to the meeting at Ibrox on Thursday and the Austrians "have instructed their representatives to oppose" the CVA. The Austrian club is still owed more than £1M ($1.6M) by the Rangers from the £4M ($6.2M) transfer of Croatia striker Nikica Jelavic in Aug. '10. Green’s offer to creditors means that Rapid "would need to settle for a maximum" of more than £91,000 ($141,596) even though Rangers will receive £5.5M ($8.6M) from the sale of Jelavic to Everton in January (TELEGRAPH, 6/11).