Editing Rangers F.C. (section)

===From incorporation to liquidation===
On 27 May 1899, Rangers Football Club [[Incorporation (business)|incorporated]], forming The Rangers Football Club Ltd.<ref name="RFC 2012 PLC" /> No single shareholding exceeded 50% until 1985 when the Lawrence Group increased its shareholding in Rangers to a 52% majority, following a deal with then club vice-chairman Jack Gillespie. In November 1988, head of the Lawrence Group Lawrence Marlborough sold out to [[David Murray (Scottish businessman)|David Murray]] for £6&nbsp;million. In 2000, [[David Murray (Scottish businessman)|David Murray]] decided to list the company on the [[stock exchange]] (making it a public limited company), with the name of the company being changed to The Rangers Football Club plc.<ref name="Rangers float on the stock market">{{cite news|url=https://www.theguardian.com/football/2000/mar/31/newsstory.sport6|title=Rangers to float as it chases global glory|work=The Guardian|date=31 March 2000|access-date=23 August 2012|author=Teather, David|quote=Rangers football club, on track for its 49th Scottish premier league title, announced plans yesterday to float the business on the stock market and disclosed that talks are under way with a number of potential media investors.|archive-url=https://web.archive.org/web/20120910005050/http://www.guardian.co.uk/football/2000/mar/31/newsstory.sport6|archive-date=10 September 2012|url-status=live}}</ref>

On 6 May 2011, [[Craig Whyte]] bought David Murray's shares for £1.<ref name="Craig whyte buys rangers for £1">{{cite news|url=http://news.bbc.co.uk/sport1/hi/football/13292829.stm|title=Craig Whyte completes takeover of Rangers for £1|work=BBC Sport|date=6 May 2011|author1=Currie, David|author2=Lamont, Alasdair|author3=McLaughlin, Chris|author-link1=David Currie (broadcaster)|author-link2=Alisdair Lamont|access-date=18 August 2012|quote=Craig Whyte has completed his takeover of Rangers for £1 but amid continuing concerns by board members about his ability to invest sufficient funds.|archive-url=https://web.archive.org/web/20120713113540/http://www.bbc.co.uk/sport/0/football/13292829|archive-date=13 July 2012|url-status=live}}</ref> On 13 February 2012, Whyte filed legal papers at the [[Court of Session]] giving notice of his intention to appoint administrators.<ref name="Rangers go into administration">{{cite news|url=https://www.bbc.co.uk/news/uk-scotland-glasgow-west-17015966|title=Rangers FC signals intent to go into administration|work=BBC News|access-date=18 August 2012|quote=Rangers Football Club has confirmed it has filed legal papers at the Court of Session to appoint administrators.|archive-url=https://web.archive.org/web/20120427081038/http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17015966|archive-date=27 April 2012|url-status=live|date=13 February 2012}}</ref> The next day, The Rangers Football Club plc – which was subsequently renamed <nowiki>RFC 2012</nowiki> plc – entered administration over non-payment of £9&nbsp;million in [[Pay-as-you-earn tax|PAYE]] and [[Value Added Tax (United Kingdom)|VAT]] taxes to [[HM Revenue and Customs]].<ref name="BBC news administration">{{cite news|url=https://www.bbc.co.uk/news/uk-scotland-glasgow-west-17026172|title=Rangers Football Club enters administration|date=14 February 2012|work=BBC News|access-date=24 August 2012|quote=HMRC lodged its petition over alleged non-payment of about £9m in PAYE and VAT following Craig Whyte's takeover.|archive-url=https://web.archive.org/web/20121114180024/http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17026172|archive-date=14 November 2012|url-status=live}}</ref><ref name="Record rangers in adminstration">{{cite news|url=http://www.dailyrecord.co.uk/football/spl/rangers/2012/02/14/rangers-in-crisis-administration-was-sparked-by-9m-unpaid-vat-and-paye-bill-taxman-reveals-86908-23748868/|title=Rangers in crisis: Administration was sparked by £9million bill for unpaid VAT and PAYE|date=14 February 2012|work=Daily Record|access-date=24 August 2012|quote=RANGERS went into administration today – as it was revealed they had failed to pay £9million in VAT and PAYE from the current financial year.|archive-url=https://web.archive.org/web/20120818224407/http://www.dailyrecord.co.uk/sport/football/rangers-in-crisis-administration-was-sparked-by-9million-1116762|archive-date=18 August 2012|url-status=live}}</ref> In April the administrators estimated that the club's total debts could top £134m which was largely dependent on the outcome of a [[First-tier Tribunal|First Tier Tax Tribunal]] concerning a disputed tax bill in relation to an Employee Benefit Trust ("EBT") scheme employed by the club since 2001.<ref name="Debts could top 134m">{{cite news|url=https://www.bbc.co.uk/news/uk-scotland-glasgow-west-17628749|title=Rangers' estimated debts could top £134m|date=5 April 2012|work=BBC News|access-date=13 September 2012|quote=Rangers' administrators estimate that the club's total debts could top £134m.|archive-url=https://web.archive.org/web/20120408075827/http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17628749|archive-date=8 April 2012|url-status=live}}</ref> However, on 20 November 2012, the Tribunal ruled in favour of Rangers. Had that decision been upheld the tax bill could have been significantly reduced from an estimated £74m to under £2m.<ref name="Rangers Win 'Big Tax Case'">{{cite news|title=Rangers win 'Big Tax Case' appeal over use of Employee Benefit Trusts|url=https://www.telegraph.co.uk/sport/football/teams/rangers/9691141/Rangers-win-Big-Tax-Case-appeal-over-use-of-Employee-Benefit-Trusts.html|work=The Daily Telegraph|author=Grahams, Ewing|date=21 November 2012|access-date=20 December 2012|archive-url=https://web.archive.org/web/20121201070920/http://www.telegraph.co.uk/sport/football/teams/rangers/9691141/Rangers-win-Big-Tax-Case-appeal-over-use-of-Employee-Benefit-Trusts.html|archive-date=1 December 2012|url-status=live}}</ref><ref name="EBT Decision">{{cite web|title=ANONYMISED FORM OF THE DECISION|url=http://www.financeandtaxtribunals.gov.uk/judgmentfiles/j6851/TC02372.pdf|work=Finance and Tax Tribunals|publisher=UK Government|access-date=27 November 2012|archive-url=https://web.archive.org/web/20130124143158/http://www.financeandtaxtribunals.gov.uk/judgmentfiles/j6851/TC02372.pdf|archive-date=24 January 2013|url-status=live}}</ref> An [[Upper Tribunal]] upheld the decision in 2014.<ref>{{cite web |url=http://www.pkfcooperparry.com/news/tax/rangers-case-%E2%80%93-upper-tribunal-decision |title=The Rangers Case – Upper Tribunal Decision |publisher=pkfcooperparry.com |first=Philip |last=Rogers |access-date=10 November 2015 |archive-url=https://web.archive.org/web/20160116050027/http://www.pkfcooperparry.com/news/tax/rangers-case-%E2%80%93-upper-tribunal-decision |archive-date=16 January 2016 |url-status=dead }}</ref> HMRC then appealed to the [[Court of Session]], which ruled in November 2015 that Rangers should have paid tax and national insurance on the EBT payments.<ref>{{cite news |url=https://www.bbc.co.uk/news/uk-34720850 |title=HMRC wins Rangers tax case appeal |work=BBC News  |date=4 November 2015 |access-date=10 November 2015}}</ref>

On 25 June 2012, the [[Crown Office and Procurator Fiscal Service|Crown Office]] asked [[Strathclyde Police]] to investigate the purchase of Rangers and the club's subsequent financial management during Whyte's tenure.<ref name="Police probe whyte">{{cite news|url=https://www.bbc.co.uk/news/uk-scotland-glasgow-west-18582965|title=Rangers in crisis: Police asked to probe Craig Whyte takeover|work=BBC News|date=25 June 2012|access-date=24 August 2012|quote=A criminal investigation is to be launched into Craig Whyte's takeover of Rangers Football Club in May last year.|archive-url=https://web.archive.org/web/20120722231507/http://www.bbc.co.uk/news/uk-scotland-glasgow-west-18582965|archive-date=22 July 2012|url-status=live}}</ref>

[[Charles Green (businessman)|Charles Green]] agreed a deal with the administrators of The Rangers Football Club plc to purchase the company for £8.5&nbsp;million if a proposed [[Trading while insolvent (UK)#Company voluntary arrangement|CVA]] was agreed or to purchase its business and assets for a £5.5million if the proposed CVA were to be rejected. On 14 June 2012, the formal rejection of the proposed CVA<ref name="CVA rejected">{{cite news|title=Rangers liquidation now inevitable after CVA bid rejected by HMRC|url=http://local.stv.tv/glasgow/105837-rangers-liquidation-now-inevitable-after-cva-bid-rejected-by-hmrc/|access-date=22 December 2012|work=STV Glasgow|publisher=STV|date=12 June 2012|author=Farrell, Mike|quote=Mr Green has previously stated that should the CVA fail his offer goes into an "automatic mode" to carry out a 'newco' switch at the Ibrox club, where all assets are sold to a new business entity for £5.5m and Rangers FC Plc, incorporated in 1899, is liquidated.|archive-url=https://web.archive.org/web/20120617112145/http://local.stv.tv/glasgow/105837-rangers-liquidation-now-inevitable-after-cva-bid-rejected-by-hmrc/|archive-date=17 June 2012|url-status=dead}}</ref> meant that the company would enter the [[liquidation]] process.<ref name="Murray makes criminal complaint">{{cite news|url=http://local.stv.tv/glasgow/202988-rangers-tax-case-leaks-sir-david-murray-makes-criminal-complaint/|title=Rangers tax case leaks: Sir David Murray makes 'criminal complaint'|work=STV Glasgow|publisher=STV|date=27 November 2012|access-date=22 December 2012|quote=In June administrators Duff and Phelps confirmed it had failed to secure a route out of the insolvency event and the club's assets were sold to a newco owned by a Charles Green-led consortium in a £5.5m deal. The oldco, now {{#tag:nowiki|RFC 2012}} Plc, formerly The Rangers Football Club Plc, has been placed into liquidation.|archive-url=https://www.webcitation.org/6D6foWaI0?url=http://local.stv.tv/glasgow/202988-rangers-tax-case-leaks-sir-david-murray-makes-criminal-complaint/|archive-date=22 December 2012|url-status=dead}}</ref><ref name="Old company in liquidation">{{cite news|url=https://www.bbc.co.uk/sport/0/scotland/20830558|title=Rangers chief Charles Green criticises Tannadice ticket plan|work=BBC Sport|date=23 December 2012|access-date=23 December 2012|quote=And Green, who bought Rangers' assets after the company that formerly ran the club could not be saved from liquidation, believes the decision to sell tickets directly to visiting fans could spark trouble at the match.|archive-url=https://web.archive.org/web/20121223213827/http://www.bbc.co.uk/sport/0/scotland/20830558|archive-date=23 December 2012|url-status=live}}</ref><ref name="SPL EBT Investigation comittee">{{cite news|url=https://www.bbc.co.uk/sport/0/football/21242267|title=SPL independent commission into Rangers player payments begins |date=29 January 2013|access-date=29 January 2013|author=McLaughlin, Chris|work=BBC Sport|quote=The three-man commission will decide if the company that formerly ran Rangers broke Scottish Premier League rules.<br />...<br />The commission will study the financial arrangements made by the Employee Benefit Trust scheme run by former Rangers owner Sir David Murray's company, Murray International Holdings.<br />...<br />The probe was launched before the company that ran Rangers – The Rangers Football Club Plc – was consigned to liquidation.<br />The consortium now running the club, led by chief executive Charles Green, has refused to recognise or co-operate with the investigation.}}</ref> The [[accountancy]] firm [[BDO International|BDO]] was appointed to investigate the years of financial mismanagement at the club.<ref name="BDO appointed to find out why plc failed">{{cite news|title=Rangers in Crisis|url=http://news.stv.tv/scotland/105870-rangers-crisis-hmrc-look-to-investigate-those-responsible-for-meltdown/|access-date=24 August 2012|work=STV News|publisher=STV|date=12 June 2012|author=Farrell, Mike|quote=The Ibrox club confirmed its planned company voluntary arrangement (CVA) escape from administration would now fail as the tax authorities revealed they felt it was in the "public interest" to liquidate Rangers FC plc, incorporated in 1899.|archive-url=https://web.archive.org/web/20131002104449/http://news.stv.tv/scotland/105870-rangers-crisis-hmrc-look-to-investigate-those-responsible-for-meltdown/|archive-date=2 October 2013|url-status=dead}}</ref><ref name="Rangers plc liquidation">{{cite news|url=http://www.scotsman.com/sport/football/spl/rangers-liquidated-as-cva-formally-rejected-1-2353211|work=The Scotsman|title=Rangers liquidated as CVA formally rejected|date=14 June 2012|access-date=30 July 2012|quote=GLASGOW RANGERS were today forced into liquidation after major creditor Her Majesty's Revenue and Customs (HMRC) formally rejected an offer of a Company Voluntary Arrangement (CVA) from the club's administrators.|archive-url=https://web.archive.org/web/20120727043212/http://www.scotsman.com/sport/football/sfl-division-three/rangers-liquidated-as-cva-formally-rejected-1-2353211|archive-date=27 July 2012|url-status=live}}</ref>