There is little point to a takeover now. Mr Whyte wanted the buy to be in last year's accounts and will see little benefit from any buy, tax wise, for another eighteen monthes or so. If Rangers are hit with a huge tax demand, for immediate payment, coming from this pending case, then they can't pay. The Revenue can close them down and an Administrator would then be appointed or they can accept a payment schedule, if they consider, that they could get the full amount over time.
An administrator's job is to sell off assets, at the highest bid price. That income then goes to firstly, the Revenue then the Banks and Admin fees. Whatever is left goes to suppliers. They may only get a percentage of each pound owed. Mr.Whyte could then buy much cheaper from the administrator, so he may as well wait it out, if he is still interested. Tesco Ibrox has a ring to it !!.
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