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And so it begins...EBTs


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And they have abused this victim enough that we have to accept this if we want to survive. Makes me sick. Ask decisions have had timescales manipulated to have maximum detriment to the rangers! The only group to have acted timely are the sfl!

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The mHedia pressure on the SFA to strip titles from us is well under way with Hinkel then Boyd and now TLB,brace yourselves!

 

It's time for the RST to make a statement

 

Yeh that will help!

 

It is time for Green to make a statement we will be fighting it through the courts.

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I posted this in TLB thread,wrongly!,it belongs in here.

 

 

Remember the David Murray article in the record regarding dual contracts?,I know I know,but!:

 

 

Sir David Murray denies any use of 'dual contracts' during his time at Ibrox

 

DAVID Murray yesterday poured scorn on accusations Rangers handed out double contracts to players to cover up untaxed payments.

 

He was speaking out for the first time since handing the Ibrox club over to Craig Whyte and admitted it was a “huge mistake”.

 

Murray apologised for letting Whyte get his hands on the club he’d fronted for most of the 23 years he was owner and admitted the decision will probably haunt him for years to come.

 

He said: “I’ll regret this for the rest of my life but I know Rangers will survive because of the fans. This club will prosper again.”

 

As for reports Rangers used double contracts to conceal payments to players – the stories were based on information supplied by former Ibrox director Hugh Adam – Murray dismissed them as fantasy.

 

According to Mike McGill, one of the former chairman’s right-hand men at the Murray Group, Adam had resigned as a director towards the end of 2000, a year before the EBT scheme was introduced.

Murray doesn’t see how Adam could have known anything about contracts but McGill said: “The club used an old offshore EBT scheme in 1999 with three players.

 

“That scheme is the subject of the small tax case. The Revenue provided some information to us in early 2011 and we conceded (the £2.8m) based on that information and provided for payment in the club accounts. Whyte did not pay it.

 

“The other scheme was started in 2001 and the larger scheme involves a payment into an offshore trust. But there is no contractual entitlement on the part of the players. That is key to the defence and key to the allegations made by the SFA.”

 

Murray added: “Hugh didn’t know. He wanted to buy Rangers at the time I had the club. He did a great job in running the pools but he became a bit anti-me.

 

“I’ve looked through every year to check my facts and there were no double contracts. Categorically, there were no dual contracts.”

 

When asked if he now regrets the use of EBT schemes McGill said: “We’ve probably said more than we should have on EBTs.

 

“The tribunal judges are about to make a decision and I do not want to be seen to be influencing either way but what I would say is this: We went through 10 AGMs. We signed off accounts by Grant Thornton and the remuneration trust was always mentioned in the account. It was never hidden.”

 

Murray felt he had to give his version because of the pressure and criticism building around him as administrators struggle to keep Rangers going. Also, whether or not he likes it, he must accept responsibility for his part in the club’s downfall.

 

He says he does and added: “I’ve been at crossroads in my life before and I passed through them.”

 

It was a poignant statement because it was 36 years ago to the day yesterday that he lost both legs in a car crash so he isn’t easily unnerved although he does wish he’d never sold to Whyte.

 

He said: “Again, I apologise and if I could turn the clock back, of course I would.

 

“You know when it really hit home for me? I care about the club passionately or I wouldn’t have done it as long but the day he (Whyte) sold the Arsenal shares?

 

“There are bits that belong to the history of a club. I said to Mike, ‘Does he realise what he’s actually done?’ That was a raw nerve, to have done that premeditated. Any sympathy he may have had just gone out the window then.”

 

When asked what he’d say if he met Whyte again, Murray said: “I don’t think we want to go there – I don’t expect many of us will see him again.”

 

Yet shouldn’t alarm bells have been clanging sooner, when Alastair Johnston, the chairman at the time of the takeover, was saying Whyte was not the right person to own the club? No one, he insists, provided evidence to substantiate the rumours.

 

He also said he couldn’t take Paul Murray’s late bid because it didn’t tick enough boxes.

 

He said: “I understand Paul was keen to get the club and I have nothing but respect for him. He wants only the best for the club.

 

“But Paul was not able at that time to give us an offer that was satisfactory for many, many reasons. He wanted debt left in and the tax case put to one side.

 

“Looking at the offer document that went out to shareholders, to buy the club, to invest, in theory Whyte’s was the right deal to do.

 

“Looking back it wasn’t and I can only apologise so many times. I wish I’d never done the deal with Craig Whyte.”

 

It has always been suggested the club’s bankers, Lloyds, who are also the Murray Group’s bank, put the squeeze on Murray to offload Rangers to Whyte but Murray said: “No. The bank wanted their money back, of course, and I’d made it clear I wanted out of Rangers.

 

“We were going into recession and people weren’t queueing up to buy football clubs. But if we’d known of the Ticketus thing we would not have done the deal.”

 

But surely Murray’s own due diligence should have been more thorough?

 

“That’s easy to say now but we did the necessary,” he said, before McGill stepped in again adding: “We had a number of characters who came forward to try to buy the club. That included one fraudulently procured proof-of-funds letter from a reputable bank. It included other parties who claimed to have funds but did not.

 

“What Craig Whyte had that the others did not was the backing of a reputable legal firm. The fact he was clearing money into their clients’ account and the fact they confirmed they had sufficient funds to do the transaction that was being negotiated, goes a long way to being positive confirmation.”

 

Now, of course, the fans know Whyte was not a fit and proper person to own their club and there are many who believe Rangers would be better off in liquidation.

 

They reckon it would be cheaper and easier to deal with creditors but Murray doesn’t agree.

 

Re-emerging as a newco isn’t what he’d like to see and he said: “That’s not in the best interests of the game or Rangers. A CVA would be preferable.

 

“But Scottish football isn’t seen as a great investment. If you’re not a Rangers fan you want to kick Rangers – and I understand that.

 

“But without Rangers the game would be much worse off.”

 

http://www.dailyrecord.co.uk/footbal...6908-23787536/

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Jul 19 2012 By Hugh Keevins

 

Probe into Rangers title wins to be carried out by independent commission

AN independent commission will decide which titles Rangers will lose over the dual contracts system that gave them an unfair advantage over opponents.

 

The SPL’s legal team has spent months gathering evidence and they will turn it over to an independent body on August 10 to prosecute the Ibrox club.

 

RecordSport understands the process is expected to take weeks andwill have a wide-ranging remit.

 

They have to decide whether medals are to be withheld or new ones offered to Celtic by way of compensation for when they were runners up.

 

An insider said: “It could be that all of Rangers official records will be ordered to change so that the years when titles have been taken from them are removed.”

 

http://www.dailyrecord.co.uk/football/spl/rangers/2012/07/19/probe-into-rangers-title-wins-to-be-carried-out-by-independent-commission-86908-23910039/

 

It seems as though this is already decided!

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Yeh that will help!

 

It is time for Green to make a statement we will be fighting it through the courts.

 

I reckon suggesting that it is a possibility would be enough unless they have some real damning evidence. the fact that they don't is obvious by the pressure to sign away our rights to take it through the courts.

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