In a BBC piece they state that Rangers went into administration owing up to £134m to unsecured creditors and will eventually be liquidated.
But that is not strictly true. This pre-supposes that the so-called 'Big Tax Case' will convert to a bill of upwards of £50m to Rangers. The First Tier Tribunal is still to deliver its verdict. Yes, Rangers have been found guilty of using EBTs but that is not the issue. The issue is: Did Rangers use EBTs to circumvent the tax authorities.
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