Pages 11,12 - Summary of Martin Bain case papers:
Whyte “took over” the debt from Murray he “did not eliminate the debt”
The assets which enable Rangers to trade as solvent could not be sold without the club ceasing to trade ie Ibrox & Murray Park (and we know value of Ibrox is grossly inflated)
Whyte told the old board he would pay no more than £15million if the tax bill crystallises, anything above this and he will let the club “go under”. HMRC’s assessment is £35million + £14million penalties.
Whyte has mortgaged the next 4 years season ticket money for current cash flow i.e. The "Warchest" is a fantasy (as if we didn't know)
Whyte promised the old board he would pay the £2.8million “wee bill”. He has failed to do so.
There is no evidence Whyte has paid one penny more than the £1 he paid Murray
Pity it took the paranoid Mr Bain to bring this to light rather than the joke that calls itself the Scottish press and media.
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