Craig Whyte – International Man of Mystery? The Man Explains Himself in His Own Words

Craig Whyte has promised he has nothing to hide – however, surely by a clerical error, he exists on the Companies House Register under 2 different dates of birth and under two different spellings of his surname.


NB Despite the “International” heading, I have not taken account yet of the excellent spadework done by “Corsica” on RTC over the last day or so in connection with Mr Whyte’s Monégasque sojourn.

I’m Not Here To Talk About the Past

Rangers’ owner Craig Whyte is a man whose past gets more interesting whenever he is asked about it. His repeated refusals to answer questions about his past simply makes it more interesting.

The baseball star Mark McGwire sat in front of a Congressional Committee enquiring into Performance Enhancing Drugs in the sport. When asked if he had used them himself, he replied that he was not there “to talk about the past”. This then led (a) to a swarm of journalists looking ever more deeply into his history and (b) a general assumption that he had used then, which will probably bar him from baseball’s Hall of Fame. I assume that someone advised him to take that line. It blew up in his face.

Mr Whyte too has been subject to a great deal of scrutiny, although this seems mainly to have come, until the BBC documentary in October, from non-traditional sources, such as Phil Mac Giolla Bhain’s blog,, and Andy Muirhead’s

For some reason the mainstream media, with a few honourable exceptions such as the Herald’s Gerry Braiden, have passed the story by. A couple of months ago, on Sportsound on BBC Radio Scotland, Jim Traynor of the Daily Record took Chick Young to task for the BBC’s failure, to that point, to investigate Mr Whyte’s background properly. Mr Traynor did not seem to recognise the irony of his own paper having failed to do so either.

When Mr Whyte appeared on the scene, the Daily Record published a piece lauding the “self made billionaire”. Much of the press followed suit, but few dared to look behind the curtain. Was there actually a real wizard there, or was it just Frank Morgan?


What has Mr Whyte actually said about his background? Is He a Billionaire, a Multi-Millionaire or a Mere Millionaire?

The Daily Record piece above had one quote from Mr Whyte, about his school days. Interestingly, the Sunday Mail had an exclusive a couple of days later referring to the “tycoon jetting in” to deal with the takeover. This report refers to him not as a billionaire but as a “multi-millionaire”. He must have had some really bad luck that week!

Whilst there were no quotes from Mr Whyte a “friend” is referred to as saying – “He’s very serious about this bid and it’s all his money – he doesn’t have a bank involved in funding his move.”

Once the takeover was finalised in May 2011, Jim Traynor published an article in the Daily Record quoting Mr Whyte. This was the “Garbo Speaks” moment.

Mr Whyte, who was now being referred to as a millionaire, said – “I know the time this has taken has created a lot of frustration but it was vital we secured a deal that meant we could maximise investment in the team and that is what has been achieved.”

Mr Traynor, in a prescient couple of paragraphs  at the end of his piece, used a phrase which has become a symbol for Mr Whyte’s rise – “Many questions remain unanswered about Whyte who has managed to fly under the radar for most of his business life so far. It seems remarkable that a man who has been described as a “ghost” by some financial analysts is now the owner of one of the biggest clubs in Britain.

One might have thought that the appearance of this “ghost” from “under the radar” with “many questions unanswered” might have prompted someone to ask them. At least in the mainstream media, the answer was no.

The Drum reported in June that Mr Whyte was re-thinking how Rangers should deal with the media.  It quoted an interview given to Tom English of the Scotland on Sunday where Mr Whyte said – “I knew about the intensity of the focus on Rangers but I didn’t expect this. I thought I could stay behind the scenes quite easily but that is not the case. I didn’t really think through the whole concept of walking around Glasgow getting stopped everywhere. I didn’t think about that at all before I got involved in the deal. It brought it home to me that life in Scotland is not the same any more.

“The intensity is incredible. I’ve read things in the paper before even I know they were happening. Somebody can tell you something and within a couple of hours it’s on the internet. Nothing I’ve ever been involved in compares to this. Weird. Very weird.

Here was perhaps one of the first signs that Mr Whyte saw that his past might become more widely known?


The Sun – 17th June

On 17th June he gave an interview to the Sun in which he was quoted as follows – “I knew there was a circus that exists around Rangers, but I thought it would die down after two days. I know better now.

It is not the biggest business deal I will do in my career, but it is the most life-changing one. I could have gone on living my life under the radar, but this felt right.”

Mr Whyte then went back into purdah as Rangers fell out of the Champions’ League and then the Europa League too, with disastrous consequences for the club’s cash flow.


The Telegraph Interview – September 27th

On 27th September, he popped his head above the parapet to give an interview to the Telegraph. This interview seems to be the first time he accepts that his “track record” has been less than perfect, which is interesting insofar as his comments later to STV are concerned. The article by Paul Kelso states –

Whyte defends his business record which, by his own admission, is mixed. He says he specialises in turning round companies in trouble, and as such Rangers was a marriage of personal and professional interest. He is listed as a current or former director of 11 UK-based companies, some of which have failed.

“I get involved in businesses that are struggling and that means you sometimes get involved in the messy side of things. But overall I have had more successes than failures,” he said.

Whyte, who has homes in the Scottish Highlands, London’s Belgravia and Monaco, will not be drawn on his personal wealth — “It would make my life a lot easier if I did but, frankly, I’m not going to have journalists going into every aspect of my private life” — but says he has genuine business credentials.

“I have got four offices in the City, I have venture capital funds, I have asset management companies, I have stock-broking businesses, I have businesses in France, in Holland, I have got thousands of employees, but I don’t see why I should make every aspect of that public.

“I’ve got everything from financial services to ticketing to cinema services, asset management, construction, I have got investments in all these sectors. I operate like a venture capital partnership so at any one time there’s 20-25 companies in the portfolio.

“I operate a family company in the city too that manages the family investments. We do all sorts of deals, public to private, commodity trading, Forex, a wide variety, but we try and keep it low key.

“Sometimes we might own them for two years, sometimes for five. But with Rangers we want to create a long-term sustainable business, which we will. But it’s going to be a rocky road.”


BBC’s Inside Story

However, in October, the BBC Inside Story programme appeared. Mr Whyte refused to co-operate with it and legal threats were made, but to no avail. The programme went out.

The BBC programme about him made a number of disclosures and allegations. The reporter, Mark Daly, had delved into Mr Whyte’s past and what he found was remarkable.

Whilst the sources mentioned above had raised many of these matters before, this was their first real presentation to a national audience.

Mr Whyte was shown to have left a string of dissolved companies behind him. He was revealed to have had close business connections some years ago with a former accountant, and a now convicted fraudster. It was stated by the Insolvency Service that Mr Whyte had in fact been disqualified from holding a position as a company director in the UK in 2000 for seven years. It was alleged that he had been investigated for acting as a shadow director during his disqualification.

Mr Whyte leapt into action in response. He vehemently denied the allegations, accused the BBC of a witch hunt, and announced that he was going to sue the BBC. It is perhaps worthy of note that the allegations remain on the BBC website, as per the link above and also that, nearly two months later, it is understood that no court action has yet been raised.


Mr Whyte Fights Back – Part 1 – STV

Mr Whyte went on the offensive in reply. He gave a “spoiler” interview to STV, bur despite this being trailed as running over two nights, the second half failed to appear. In the interview, shown by STV before the BBC broadcast, Mr Whyte said – I’ve got nothing to hide at all. I am very open. I come to Ibrox regularly. A lot of people know me around here and I’ve got nothing to hide.

“I understand people’s concerns about that (his business life) but I’ve stepped up to the plate to do it. There weren’t a queue of people waiting to take on this challenge. When judgment is passed in years to come I think that people will see that I will have taken the business forward, I will have sorted out the issues. Ultimately my track record speaks for itself.

“I’m here; I’m the owner of Rangers. I’m the chairman of Rangers and I have done a lot more successful deals than deals that haven’t worked out. I think that ultimately speaks for itself.

As mentioned above however, the BBC programme suggested otherwise. The disqualification as a company director was disclosed, this being something which Rangers failed to confirm to the PLUS Stock Exchange for over a month after the broadcast, and almost seven months after the takeover. Neither had it been reported to the SFA/SPL.

The programme told of how Mr Whyte had headed to Monaco for about 7 years following his disqualification. A story of failed companies was told. The track record did not look good.


Mr Whyte Fights Back – Part 2 – The Rangers Supporters Trust


The day before the BBC broadcast, Mr Whyte had met with the Rangers Supporters Trust, who helpfully minuted the meeting.

The minutes include the following-

BBC PROGRAMME – The Chairman considered that allegations put to him so far by the BBC were unfounded and unfair. He is not aware of all of the content of the programme but after viewing he will respond accordingly. He views the BBC Investigates propgramme (sic) as part of a pattern of behaviour on behalf of the BBC towards Rangers FC and Rangers fans. He’s astonished that the BBC would produce a programme largely based on internet chitchat and bloggers.

MEDIA HANDLING – The Chairman spends more time than he would like defending the club’s reputation but regards it as a very necessary part of his role as it has such a negative effect on the club. He engages with PR advisors, Mediahouse, regularly. He’s very ready to defend both the club and fans from scurrilous attacks.”


Mr Whyte Fights Back – Part 3 – Scotland on Sunday

After the STV interview, Mr Whyte also gave an interview to Tom English again at the Scotland on Sunday. This is, for some reason, no longer online, but I took the liberty of downloading the text of it.

Bearing in mind that this interview took place within a day or so of his statements to STV that he had nothing to hide, he seemed to have changed his tune. In addition, the promised reply, as indicated to the RST, came out differently than one might have expected. I apologise for the lengthy extract, but it is best to let Mr Whyte speak for himself.


Q         Let’s look at this closely. They said you were disqualified as a company director. Is that true?

A          I’m not comfortable getting into the specific allegations.

Q         They had a government official – Robert Burns, head of investigations at the Insolvency Service – saying that you could, potentially, have faced a two-year jail sentence for your involvement in a company, Re-tex Plastic Technology while disqualified. Is that true?

A          I’m not going to comment on specific allegations other than to say on the basis of what I’ve heard the Insolvency Service said last night, I’m looking into the possibility of suing them personally


And later on in the interview

Q         There is an air of mystery about you, though. Nobody really knows much about you – where you got your money from and how much you have.

A          Good.

Q         So where did you make your money and how much do you have?

A          If I asked you how much money you have, you would be within your rights to tell me to f*** off, it’s none of my business. All that matters is that I’m delivering on what I said I would deliver on. Rangers are in a better place now than they have been in the last three or four years. That’s what’s important. As long as I deliver on what I said I would deliver on what difference does it make?

Q         What other businesses do you have, we know nothing of this?

A          I’ve got more than 20 other businesses in the UK and across various parts of Europe and I’m involved in all sorts of things. I’m a prolific deal-maker, but the only one you get to hear about is Rangers. I’m doing deals constantly. This morning I’m working on a decent size deal with a fairly well-known business but it will never get any attention.

Q         Why not?

A          Because I don’t want it to.

Q         Again, why not?

A          Why should I? I’m stubborn.

Q         Give us the names of a few of your companies that you’re really proud of?

A          No. Good effort but I’m not going to name the companies because that’ll create a level of scrutiny for them and I don’t want to have that. I just want them to get on with business. Look, I can’t complain about it because I put myself in the position. David Murray told me what it would be like. I’m fortunate to be in the position I’m in. You know my thoughts, I’m not a publicity hungry type of guy. This stuff doesn’t sit naturally with me. I’m only doing this now because of that BBC thing.

And later still

Q         Is this the most hassle you’ve had in business?

A          For sure. But this is what I signed up to. Nothing on this scale has happened to me before and nothing on this scale will happen to me again. Even if you owned one of the clubs in London I don’t think you’d get this level of intensity in the national press. I wouldn’t wish it on anybody. No football club owner in Scotland has had the hassle that I’ve had.


So his stance changed. From saying he had nothing to hide, he refused to tell the reporter where his wealth came from, what businesses he had and impliedly told the journalist to “f### off” for asking him about his money. Yet again we see how surprised he is by the scrutiny.


Mr Whyte Fights Back – Part 4 – The Vanguard Bears

Mr Whyte then followed this up, in early November, with a meeting with the Vanguard Bears, another Rangers supporters organisation. This was in advance of a planned protest by Rangers fans at BBC Scotland. It is understood that around 300 fans attended that protest when it took place.

The notes of the meeting include the following – “Durring (sic) this session, Mr Whyte was supportive, open and candid about the scale of the agenda against the club, and appreciated it is widespread and not an isolated issue at one broadcaster. He explained that the club has to evaluate the importance and reach of media outlets, the severity of the slur, the legal implications, and accept “digs” from journalists or bloggers if these “digs” are not libellous. We both agreed that constructive criticism was completely acceptable.

“My (sic) Whyte explained that he is still being advised by Carter Ruck with regards to allegations made on the BBC Programme “Rangers – The Inside Story”, its researchers and contributors. Those who have repeated said allegations may also be pursued.”


The Accounts and the AGM

Rangers must, under the Companies Acts, hold an AGM by the end of 2011, otherwise the responsible directors commit a criminal offence punishable by a fine. This week it was announced that the AGM would not be held as required.

The Sun quoted Mr Whyte as saying – “We’d still hope to have our accounts signed off before the end of the year. It will not be logistically possible to have the AGM in what remains of 2011, though. We will have it in the first quarter of 2012 when we’ll have a better indication of how the tax case will play out. I’d like to face that AGM with more certainty and positive news on the way ahead for Rangers.’  

I feel there is too much focusing on negatives from my past, but I put myself up there to be shot at. I can handle that. But I hope there will be a more positive atmosphere by the time of the AGM.’


What are the “Negatives from the Past”?

Companies House provides a great deal of interesting information.

I have listed below details of (some of) the various companies where Mr Whyte is, or has been a director.

Points of interest – Mr Whyte seems to exist in the register under two different names, and two different dates of birth!

The Rangers “Craig Thomas Whyte” was born in January 1971. He is or was director of 10 active companies and 8 inactive ones.

The other “Craig Thomas Whyte” was born in January 1969. He Is listed as being or having been director of 1 active company and 14 inactive.

There is also a “Craig Thomas White” who was born in January 1971. His two directorships were in companies now dissolved called Mcr Investments Ltd and Mcr Capital Ltd. These may be connected to Mr Whyte’s “Merchant Corporate Recovery Group” perhaps?

So the Telegraph got it wrong, and Mr Whyte appears not to have corrected them.

In addition, as you will see from the list, almost all of the companies, even the few remaining active, have had “Red Flags” against them. The “Duedil” website though which I have accessed the data “flags up” matters such as liquidations, notices of dissolution and disqualifications of directors. As can be seen, many of the companies have had a rather lax attitude to their compliance with Company Law as regards Returns and accounts.

It is of course possible that there are three different people referred to above, but I frankly doubt it.

It might also be that whoever completed the relevant details for one group or other got his date of birth wrong repeatedly.

It would be unworthy, nor is there any evidence, to suggest that Mr Whyte deliberately changed his date of birth to try to avoid any connection with his former companies. It should be noted that almost all of the 1971 Mr Whyte companies were created long after the 1969 Craig Whyte companies.

It is also interesting to look at the records of Highland Council in relation to a planning application for repairers etc to Castle Grant in 2007. This is the castle bought by Mr Whyte and repeatedly refereed to in his interviews,.

On page 2 of the list linked here we see an application for refurbishment and alterations to the Castle. This is in the name of Mr and Mrs White, not Mr and Mrs Whyte. Perhaps Highland Council have mis-spelled the name on the list. Perhaps Thomas Munro & Co, Architects, of Inverness could not spell the name of their billionaire client correctly. Perhaps there was confusion on the part of Mr Whyte as to how to spell his name. Who can tell?




Craig Thomas Whyte

Date of Birth January 1969


Strident plc                            03186668        Dissolution as of 23rd Aug 2011


23/08/2011 Dissolution notice in Gazette

09/08/2011Voluntary dissolution requested



U S G Ltd                                 02778587        Company is dissolved as of 7th Nov 1995


27/02/1996 Final dissolution notice

07/11/1995 Dissolution notice in Gazette

Css 1996 Ltd                           02950238        Company is dissolved as of 25th Mar 1997


15/07/1997 Final dissolution notice

25/03/1997 Dissolution notice in Gazette


Hag 1996 Ltd.                         SC160811        Company is dissolved as of 12th Feb 1997


04/06/1997 Final dissolution notice

12/02/1997 Dissolution notice in Gazette


Cairnhall Ltd                          SC108539        Company is dissolved as of 19th Nov 1997


11/03/1998 Final dissolution notice

19/11/1997 Dissolution notice in Gazette

Ccs 1996 Ltd.                          SC155479        Company is dissolved as of 7th Jan 1998


29/04/1998 Final dissolution notice

07/01/1998 Dissolution notice in Gazette


Vital Security Ltd.                  03122730        Company is dissolved as of 18th Apr 2000


08/08/2000 Final dissolution notice

18/04/2000 Dissolution notice in Gazette

Disqualified director listed


Vps 1996 Ltd.                         SC162052        Company is dissolved as of 11th Mar 1998


01/07/1998 Final dissolution notice

11/03/1998 Dissolution notice in Gazette

03/02/1998 Voluntary dissolution requested


Cathedral Security Services (northern) Ltd            03122784        Company is dissolved as of 18th Jan 2000


18/01/2000 Final dissolution notice

24/09/1999 Dis. winding-up

30/05/1998 Company Is winding-up its affairs

Disqualified director listed


Vital Plant Services Ltd         03122782        Company is dissolved as of 29th Jan 2002


21/05/2002 Final dissolution notice

29/01/2002 Dissolution notice in Gazette

10/09/1997 Petitions to wind up published in Gazette


Iss 1996 Ltd.                            SC151734        Company is dissolved as of 3rd Jan 1996


26/06/1996 Final dissolution notice


Hire Access Group Ltd           03122450        Company is dissolved as of 24th Apr 2001


14/08/2001 Final dissolution notice

24/04/2001 Dissolution notice in Gazette


Kristen Management Services Ltd   03146389        Company is dissolved as of 19th Sep 2000


19/09/2000 Final dissolution notice

05/06/2000 Dis. winding-up

22/05/1998 Company is winding-up its affairs

Disqualified director listed


In-Store Security Services Ltd          03146127        Company is dissolved as of 5th Dec 2000


05/12/2000 Final dissolution notice

24/08/2000 Dis. winding-up

16/09/1997Company is winding-up its affairs


Vital Holdings Ltd                  03099824        Company is dissolved as of 26th Apr 2005


09/08/2005 Final dissolution notice

26/04/2005 Dissolution notice in Gazette

15/01/1999 Petitions to wind up published in Gazette





Craig Thomas Whyte

Date of Birth January 1971


Cairnwell Investments Ltd    06875284        Non-trading


11/10/2010 Compulsory striking off of register cancelled

10/08/2010 Dissolution notice in Gazette


Merchant Corporate Recovery Plc  06805838        Financial Statements too old as of 26th Oct 2010


13/12/2010 Compulsory striking off of register cancelled

26/10/2010 Dissolution notice in Gazette


Tixway Uk Ltd                                    SC314691        Active


17/04/2011 Compulsory striking off of register cancelled

04/02/2011 Dissolution notice in Gazette

03/02/2011 Letter to strike company from register suspended


Merchant Strategic Renewal Plc      07392152                    Active

The Rangers Fc Group Ltd                 07380537                    Active


The Rangers Football Club P.l.c.       SC004276                    Active


Countryliner Group Ltd                    06946470                    Financial Statements too old


Team Discounts plc               07842985                    Active – formed 10th November 2011

Directors are Mr Whyte and James Holmes (who amongst other posts is Director of Merchant House Group Plc)

Merchant House Financial Services Ltd       04491709        Active


Merchant Turnaround Plc                07116894                    Active


10/10/2011 Compulsory striking off of register cancelled

04/10/2011 Dissolution notice in Gazette



Whyte Plant Ltd                    SC120702        Company is dissolved as of 29th Nov 1995


29/11/1995 Final dissolution notice

23/08/1995Final meeting of creditors

14/07/1995 Appoint of liquidator notice in Gazette


Whyte Forbes Contract Services Ltd           SC121314 Company is dissolved as of 13th Dec 1995


13/12/1995 Final dissolution notice

04/09/1995 Final meeting of creditors

14/07/1995Appoint of liquidator notice in Gazette


Whyte Hire Ltd                      SC116474        Company is dissolved as of 29th Nov 1995


29/11/1995 Final dissolution notice

23/08/1995Final meeting of creditors

14/07/1995Appoint of liquidator notice in Gazette


Whyte Communications Ltd            SC127955        Company is dissolved as of 17th Aug 1994


17/08/1994 Dissolution notice in Gazette

18/05/1993 Appoint of liquidator notice in Gazette


Intercity Guards Ltd              SC132744        Company is dissolved as of 27th Sep 1995


27/09/1995 Final dissolution notice

16/06/1995 Final meeting of creditors

28/04/1995 Appoint of liquidator notice in Gazette


Zemfill Plc                               07360672        Company is dissolved as of 25th Jan 2011


10/05/2011 Final dissolution notice

25/01/2011 Dissolution notice in Gazette

13/01/2011 Voluntary dissolution requested


Merchant Interactive Ltd     06823992        Company is dissolved as of 22nd Feb 2011


02/08/2011 Final dissolution notice

22/02/2011 Dissolution notice in Gazette


Lm Logistics Group Ltd          07053810                    In Administration


18/08/2010 Appointment of administrator notice in Gazette

12/08/2010 Appointment of Administrator


Craig Thomas White

Date of Birth January 1971

Mcr Investments Ltd             07161881        Company is dissolved as of 14th Jun 2011


27/09/2011 Final dissolution notice

14/06/2011Dissolution notice in Gazette


Mcr Capital Ltd                      07158771        Company is dissolved as of 14th Jun 2011


27/09/2011 Final dissolution notice

14/06/2011Dissolution notice in Gazette





Filed under Insolvency, Rangers, The Company Directors Disqualification Act 1986.

18 responses to “Craig Whyte – International Man of Mystery? The Man Explains Himself in His Own Words

  1. TheBlackKnight

    Excellent synopsis of the ‘forensic’ work being uncovered by some of those meddlesome bloggers.

    I am genuinely surprised no-one (in particular the ‘interested parties’ of varying D.o.B – Mr C Whyte, Mr C T Whyte or Mr C White) has pointed the I.S. or Plus Market Investigations Team to these discrepancies and sought to clear up these apparent ‘misunderstandings’.

    I am even more surprised, given the current situation, that the Football Authorities have not sought written responses to these allegations (“misunderstandings”)

    Chapeau as always!

  2. Brim

    I guess the only link between the ’69 Craig and the ’71 Craig is that the ’69 Craig was director of two businesses with ‘Vital’ in the name, and ’71 Craig has admitted that his ban was to do with ‘Vital UK Ltd’. Other than that (which is no smoking gun in itself) it is still believable that it’s different Craigs.

    Any other links that I’m missing?

  3. Chalmers

    Excellent again, Paul. Just a small point. Before RTC and yourself became so involved, and even before Whyte took control of Rangers FC plc, some sleuths at had uncovered some facts about the ‘billionnaire’ and I feel that their efforts could be recognised also, as well as other Celtic messageboards who chipped away at the veneer put up by Jackson, Traynor & co.

  4. Brian McW

    An excellent piece of work Paul, you surpass yourself.

  5. BillyBhoy68

    I’ve left a comment/query on RTC

    This relates to Tixway Limited and not Tixway UK Limited.

    Any thoughts on the signature ?

  6. Pingback: The Evidence Suggests – There’s Only One Craig Whtye! | Random Thoughts Re Scots (and Other) Law

  7. Hevghirl

    Excellent forensic detailing here and I would almost say comprehensive, but I think we’re still only skimming the surface of the businesses the MBB has been involved with.

    I didn’t realise that his interview with Tom English was so combative and I wonder why this hasn’t been more widely talked about in the MSM.

  8. Chris McC

    Great stuff again, Paul.
    There’s some great journalistic work being done out there in cyberspace … needless to say, none of it by the MSM.
    It really is shocking that non-journos (admittedly clever, non-journos) can find out so much about the MBB/RFC, yet the so-called real journos with all the information resources their jobs provide, won’t go anywhere near this story.

  9. Mike Bhoyle

    Excellent piece of work…well done Paul….
    As someone who was employed by an Establishment National newspaper in Scotland…I can confirm….you will get no “journo” doing his job here.
    Masonic influence …coupled with “jobsworth” ..ensures that this Club and
    Mr. Whyte …oh and Mr. White as well….will get an easy ride.
    Remember…it’s Scotland we live in….be fair.

  10. scares me that the mainstream media are not on top of this, kind of makes you think you should pack your case and get out of this country, i do not think that even the media in China would sit on this one…scary.

  11. Hugh McEwan

    Good work, well put together.

    Both informative and entertaining.

  12. Brilliant piece, Paul.

    This line leapt out at me:

    “The Accounts and the AGM

    Rangers must, under the Companies Acts, hold an AGM by the end of 2011, otherwise the responsible directors commit a criminal offence punishable by a fine. ”

    A criminal offence, eh?
    How seriously is it taken by the authorities when a previously disqualified director is subsequently found guilty of a criminal offence under the Companies Act? How interested might the head of investigations at the Insolvency Service be, for instance?

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