The Daily Record has cast doubts over the survival myth to it’s readers.
News yesterday that The Rangers FC Group and Sevco 5088 came as an unwelcome reminder of the gymnastics that have been used to present a challenge to Celtic from Ibrox.
In 2012 the Record warned about the consequences of liquidation then reported the death of the club when a CVA was rejected.
Under Charles Green’;s leadership a miracle was explained to their readers about how a ‘newco’ had bought the assets and history of the ‘oldco’ and it was business as usual despite the vindictive relegation down three divisions by clubs blackmailed by hate driven internet bampots.
No explanation or apology was ever given for RIP- RFC.
Having been squeezed out while Dave King and chums take the acclaim The Rangers FC Group and Sevco 5088 are back in action with their claims for the company assets casting a massive shadow over the tribute act continuing to play and ruling out all hope of a new share issue.
The Record reports: “A specialist London-based firm have taken control of Wavetower, the company Whyte used to acquire Rangers, and Sevco 5088, who were due to be struck off the Register of Companies.
“It could signal bad news for both “oldco” and “newco” Rangers as Henderson & Jones specialise in buying legal claims and pursuing them through the courts.
“Wavetower and Sevco 5088 both believe they have strong claims on liquidated assets and for assets held by the so-called “newco”.
“Sevco 5088 are the firm ex-chief executive Charles Green used to acquire the club after Whyte’s disastrous ownership.”
The Rangers FC Group hold a floating charge over the assets while Sevco 5088 lost everything overnight when Mr Green switched the assets to Sevco Scotland.