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SBD Global/November 30, 2012/Franchises

Liquidators Launch Probe Into Circumstances Around 'Sinking' Of Rangers FC

Liquidators "have officially launched a full-scale probe into the circumstances surrounding the sinking of" Scottish Third Division Rangers, "which could lead to criminal prosecutions and legal cases worth tens of millions of pounds," according to Keith Jackson of the Scotland DAILY RECORD. London accounts firm BDO "agreed to hunt down those responsible for the demise of the Ibrox club, forced under when former Owner Craig Whyte ran up almost £15M ($24M) in unpaid" pay-as-you-earn tax (PAYE). Former Dir Paul Murray called on BDO "to carry out the investigation as a matter of urgency and insisted any suspected 'guilty parties' should be hauled into court and pursued for damages." Murray said that "the inquiry should stretch back as far as three years to include the circumstances surrounding Whyte’s takeover, the Big Tax Case bill and the conduct of other key players" such as former director Donald Muir, Lloyds Bank, Ticketus, lawyers Collyer Bristow and administrators Duff & Phelps. Murray said, "It is crucial they find out who is responsible for the destruction of a Scottish institution then make these people pay for their actions" (DAILY RECORD, 11/29).
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