Duff and Phelps have failed in their courtroom bid to get the deal between Rangers and Ticketus overturned.
The decision by Lord Hodge at the Court of Session in Edinburgh is a hammerblow to hopes of rescuing the club from administration through a CVA.
It’s now expected that two of the conditional bids for Rangers will be withdrawn leaving Paul Murray and his mysterious Blue Knights consortium, which includes Ticketus, as favourites to take over the club.
Duff and Phelps had challenged the deal between Craig Whyte and Ticketus which was completed separate to the £1 buy out of David Murray’s 85% shareholding.
With the legality of that deal confirmed any would-be new owners have to accept that the London-based agency are entitled to the first 25,000 season tickets for the next three seasons.
That restriction coupled with no European football next season and a potential tax bill of £49m makes liquidation of the club much more likely.
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No major surprise…….Another step closer to liquidation which is inevitable wonder when the penny will finally drop.
Still a lot of them seem to think current administration is an error LOL
Whyte will now be blamed for Rangers being liquidated when Murray is the person who ran the club into the ground.
They obviously thought that the bias and privileges they get every season on the field would transfer to matters off the field – tough tittie’s and goodbye.
P.S
0-4 For the Celt’s on Sunday!
its all becoming tedious now, someone please pull the plug on the life support machine, its over, hail hail
BREAKING NEWS…………..
Kingston bridge Glasgow will be closed on Sunday to all buns to stop them jumping when the famous Glasgow Celtic also known as CHAMPIONS destroy them and duff and phelps pull the plug and puts the dying dog down . Bye bye rankers you will not be missed. HAIL HAIL