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SBD Global/February 8, 2013/International Football
Rangers Want To Tap Into The Middle East; Debt Dispute Is No Threat To Club
Published February 8, 2013
DEBT DISPUTE: REUTERS' Keith Weir reported Rangers "have dismissed fears that the club could face a new battle for survival over a disputed bill." Britain's Channel 4 News reported that Singapore-based Orlit Enterprises "was planning to go to court to seek a winding-up order against Rangers over disputed invoices" for £400,000 ($628,000). The bill "was for help in finding investors to rescue the club last June." Rangers said in a statement: "With regard to stories circulating about Rangers and Orlit, the sums sought are insignificant and agreement has been reached subject to the necessary paperwork" (REUTERS, 2/7). In Glasgow, Keith McLeod reported despite the claim, "no evidence exists that a winding-up order has been served." The Daily Record "could find no papers at the Court of Session in Edinburgh" Wednesday relating to an order against Rangers. Wednesday night, "it emerged that Green had been linked to a director of Orlit." In May, "he resigned as non-executive chairman of Nova Resources, who have interests in the Far East and Mongolia." Another board member of Nova Resources is a lawyer called Chan Fook Meng, who "is also listed as a director of Orlit Enterprises" (DAILY RECORD, 2/7).