WITH regard to stories circulating about Rangers and Orlit, the sums sought are insignificant and agreement has been reached subject to the necessary paperwork.
Rangers Football Club is capable of meeting any debts presented legitimately and we would like to stress to our supporters there is no threat to the Club whatsoever.
The matter is unworthy of further comment.
A couple (seven or eight actually) of points arising from it.
First of all, Alex Thomson was spot on about the creditor and the action they were suggesting.
Secondly the statement does not dispute the allegation that the sum claimed is £400,000.
Thirdly calling that amount insignificant seems ironic, especially when it amounts to 7% of the price paid to buy all of the assets!
Fourthly, it provides confirmation that, in pursuing debts from companies a threat of a winding-up petition can be an excellent weapon.
Fifthly, one wonders if Mr Chan or any other parties connected with Orlit appreciate the insinuation that they did not present their debt “legitimately”.
Sixthly, bearing in mind that “the Club” is a collection of assets owned by a company (in this case Rangers Football Club Ltd) then, no matter what happened, “the Club” was not in danger, unless no one was prepared to buy the assets.
To suggest that the matter is “unworthy of comment” is a rather blatant attempt to close of the issue. One wonders how the media will cover it. It is an issue, even if only an embarrassing incident for a cash rich company claiming to be the biggest and best supported in Scotland, with the most money in the bank.
In the end, all’s well that ends well.
However it seems quite clear that if any other creditor is in a dispute with “Rangers” about a bill, then threats of winding-up, and a word in a suitable media ear, will get Mr Green to pull out the Ibrox cheque book!
Posted by Paul McConville