“I Always Thought The Fan Base Could Be Monetised”: Craig Whyte Speaks To The BBC

Poor Craig Whyte. On the day he chose to give his version of the Rangers saga to the BBC, former Rangers joint administrator Paul Clark beats him to the “biggest Rangers lie” of the year trophy. Clark offered a dictionary definition of dishonesty and irony in his statement on Wednesday that he and David Whitehouse, his colleague at financial services firm Duff and Phelps, had achieved their “primary statutory function” as administrators of RFC 2012 PLC, the company which, under its former title ‘Rangers Football Club PLC,’ ran the club. This function was “to rescue” RFC 2012 PLC “as a going concern, in the interests of its creditors,” and Clark included this in the statement which formally announced that the creditors had approved the… er… liquidation of RFC 2012 PLC. To rub Whyte’s nose further in it, Clark then secured the runner-up spot by claiming they had achieved their second objective, to “secure a buyer” for Rangers. The objective was actually phrased a little differently: “achieving a better result for the company’s creditors as a whole than would be likely if the company were wound-up (without first being in administration).” Given that Duff and Phelps sold the assets and business of Rangers for £5.5m, £2.5m of which will end up with… Duff and Phelps, it remains to be seen how much “better” the result for the company’s creditors will...

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