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Scottish Side Rangers Considered Administration Before Takeover, Court Hears

The possibility of Scottish side Rangers going into administration was "being discussed by Ibrox directors several months before Craig Whyte's deal to buy the club" from David Murray was concluded, a court heard, according to Hilary Duncanson of the Scotland DAILY RECORD. Former club Finance Dir Donald McIntyre told jurors it would have been "remiss" of the board not to have talks on the issue when faced with a "potentially massive tax burden from a looming case." McIntyre, 58, gave evidence for a second day at the High Court in Glasgow at the trial of former Rangers Owner Whyte. The 46-year-old is accused of "acquiring the club fraudulently" in May '11. During the third day of evidence, jurors heard the club went into administration "some time" after Whyte took over. Whyte's QC, Donald Findlay, asked McIntyre, "When were you first aware, as financial director of Rangers, that the board was discussing the possibility of administration of the club?" McIntyre put the date at "about" Oct. '10. Earlier, Findlay suggested the club was in a financial "predicament" around the start of '11, "months before Whyte took over" (DAILY RECORD, 4/25). In London, Grant McCabe reported the court also heard claims that Lloyds had "threatened to withdraw" bank facilities if a deal with Whyte was not "sanctioned." Findlay asked, "The bank were putting the squeeze on the company?" McIntyre replied, "Correct." It also emerged that Rangers had "struck a secret deal" with Ticketus to bring in cash by selling season tickets (LONDON TIMES, 4/25).

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