WP Archives: Jun 13 2012 "Who Is Really to Blame?"

There will be millions of words written over the next few weeks on Rangers situation, following the refusal of a CVA by HMRC.

Rangers suitor Charles Green and Duff and Phelps both raged at HMRC’s late decision, and both have a reason to be angry, if we assume they both meant it, and wished the CVA above all else.

Their statements are both no doubt being analysed by hundreds of journalists and bloggers of various persuasions, but I’d like to focus on the HMRC Statement itself.

The statement in full is:

"A liquidation provides the best opportunity to protect taxpayers, by allowing the potential investigation and pursuit of possible claims against those responsible for the company’s financial affairs in recent years. A CVA would restrict the scope of such action. Moreover the liquidation route does not prejudice the proposed sale of the club. This sale can take place either through a CVA or a liquidation.

So the sale is not being undermined, it simply takes a different route. Liquidation will enable a sale of the football assets to be made to a new company, thereby ensuring that football will continue at Ibrox. It also means that the new company will be free from claims or litigation in a way which would not be achievable with a CVA. Rangers can make a fresh start."

How the decision was arrived at, and when, is most certainly something that both D&P and Green should be pursuing, but the actual statement itself is very interesting.

Some will even interpret this statement in different ways, and suggest that this “policy decision” suits some individuals within HMRC, who wished damage on Rangers, which they have achieved by delaying for so long, and by forcing a newco situation.

Me? I’m not even sure this could ever be proven, is there’s any substance to it

My interpretation is quite straightforward. HMRC have clearly identified their targets as being Sir David Murray and Craig Whyte, NOT Rangers Football Club.

There are laws now in place to pursue “newcos”, but this is not the route HMRC are taking.
Why?

Could it possibly be that they believe that Rangers are victims of mismanagement and improper procedure, and that they should be left alone to recover from the mess they are in, while they pursue Murray and Whyte?

Far from being the villain of the piece, is it possible that HMRC have in effect admonished Rangers as an institution, as the hundreds of employees and thousands of fans are also victims?

Should we therefor expect the same level of objectivity from the SPL and SFA, as the vultures circle our club?

Bill