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Companies run by ex-Rangers boss Sir David Murray set for liquidation


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A number of companies run by Sir David Murray have signalled their intention to go in to liquidation.

 

Notice was given on January 5 that six firms have presented petitions to wind up to the Court of Session, though the notices were only published by the court on Tuesday.

 

The companies — GM Mining Limited, Murray Group Holdings Limited, Murray International Holdings Limited, The Premier Property Group Limited, Murray Outsourcing Limited and PPG Land Limited — have all appointed John Charles Reid and Christopher McKay of Deloitte LLP as joint interim liquidators.

 

Sir David Murray stepped down as chairman of Rangers Football Club in 2009 and officially sold his controlling interest of shares in the club in May 2011 to Craig Whyte. The club subsequently applied for administration in February 2012 and then entered liquidation.

 

The impact the liquidation of three of the Murray companies will have on the status of HM Revenue and Customs’ pursuit of the so-called “big tax case” is unknown.

 

GM Mining Limited, Murray Group Holdings Limited and The Premier Property Group Limited were listed as three of the five “appellants” in the case, which was in the most part successfully defended by Murray at an upper tier tax tribunal in 2014.

 

HMRC’s argument revolved around the use of employee benefit trusts which were used by the companies, including the Rangers oldco, which they alleged were used as emoluments to employees. Murray successfully argued they were loans which remain recoverable.

 

The two other appellants in the case, Murray Group Management Limited and RFC 2012 plc - the Rangers oldco - are already in liquidation.

 

A spokesperson for HM Revenue and Customs told STV: "We do not comment on identifiable taxpayers".

 

http://news.stv.tv/west-central/306444-number-of-companies-run-by-sir-david-murray-set-for-liquidation/

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One of the news programs tonight claimed that Murrays companies going under has a huge impact on the latest HMRC attempts to win the EBT case as 3 of his companies were involved, dont know mif its true or not

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