Charlie Green: HMRC have given us a nod for CVA
The claim is made in the Daily Record as Green tries to buy time for the much delayed CVA that would save Rangers from liquidation.
HMRC keep a very low profile on these matters, refusing to comment on individual cases, and are unlikely to be happy with claims that they have accepted a cut price offer on tax from this year that was used to fund a football club.
Green’s CVA pot is believed to amount to around £8.5m with administrators Duff and Phelps first to be paid taking over £3m off the sum available to creditors.
HMRC and Ticketus are both owed more than 25% of the total debt and have the power to reject a CVA forcing the club into liquidation and an asset sale.
Green told the Daily Record ‘HMRC have given us the nod but we need it in writing’.
The former Sheffield United chief added: “We are in the very final stages of completing the CVA and that’s expected very, very shortly.”
Ignoring the possibility that his CVA may fail or the looming big tax case which could reach over £50m Green is already planning for the future.
He added: “The problem with the club historically is there has been no corporate governance. There was no accountability, no corporate balance.
“What we need to do is get people who haven’t got shares on the board so they are not influenced by the share holding.
“When they make a decision then it’s made on the basis of what is proper and what is right, not what is in David Murray’s interest or that of David Murray holdings or in the interest of Craig Whyte.”
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