The core essence of Duff and Phelps protests at the SFA judicial panel punishment handed out this week, as they state, is that: “in our opinion do the panel fail to have properly apportioned culpability between the Club and Craig Whyte”.
Yesterday we found out the truth about how Duff and Phelps really think about apportioning culpability between a company and a director.
The Lawyer magazine yesterday reported:
“The administrators are suing Collyer Bristow and Whyte’s takeover vehicle the Rangers FC Group for at least £25m in damages. The firm is accused of conspiracy, breach of undertaking, negligence and breach of trust, with Withey – who acted as the club’s company secretary – complicit in the allegations.”
The Lawyer goes on to say that Mark Phillips, QC, acting on behalf of Duff and Phelps, “told the court that there was no evidence anyone else at Collyer Bristow was involved, but that as Withey had authority to act for the firm, it was liable for the losses flowing from his “conspiracy”.
Get this clear; in the opinion of Duff and Phelps QC, as Withey had authority to act for Collyer Bristow, Collyer Bristow was liable.
Craig Whyte acted on behalf of Rangers after 6 May last year just as the old board acted on behalf of the club before then. These people are using one argument to chase an enormous £25m but using the counter argument to subvert an SFA judicial panel.
The rules of the SFA are clear, Rangers are ‘liable’ for the actions of their directors, as anyone using this argument to pursue £25m should be well aware. These people are shameless.
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rangers in administration
‘The Greatest Show On Earth’
greenmaestro on 25 April, 2012 at 15:33 said:
Sugarpuffs are the worst ever.
One thing everyone agrees on is it’s defo Jelly with Icecream ;)
kerrybhoy74
Everybody elses fault!
I had one of them at lunchtime telling me they agree they should be punished but not when they are down. It should be held over to when they have cleared their debt and have a new owner.
Snorted my tea out through my nose and told them to jog on in between my hysterical laughter.
Stupid hun…
The holdall & black leather gloves seem to be staple paraphernelia for the hitman. Its like a plumbers ratchet or a handymans tool belt…no matter the advances in technology we will always need ratchets & holdalls for that matter…
Mikael Lustig insists nobody at Celtic is taking their foot off the gas, despite having already clinched the Scottish Premier League title.
The Swedish defender is one of a number of players pushing for games before the end of the season, with four league fixtures remaining in 2011/12.
Rangers visit Celtic Park on Sunday in the final Glasgow derby of the season and Lustig says everyone at the club will be giving their all to secure victory.
“You always want to play in the derby and I would love to play this weekend but it is up to the gaffer,” he told the Celtic View.
“We still have a lot to play for even though we have the league title now, we don’t just play for ourselves.
“This is a really big game for the fans as well so we will be giving 100%.”
Lustig moved to Celtic from Rosenborg on January 1 but has struggled to hold down a regular place due to injury, making just four appearances to date.
The 25-year-old was in the stands for both his side’s 1-0 win in January and subsequent 3-2 defeat to their rivals back in March and says he is eager to be involved.
“I was in the stand watching the first game and it was amazing,” he said. “I heard the derby would be really special.
“When Henrik Larsson was at Celtic they showed the derbies back in Sweden so I had seen the games before and I knew about them – but it was even more special than I had imagined.
“It was the first time Celtic had beaten Rangers this season and they went ahead of them in the table so I have good memories from that night.”
Heather’s a Goal-den Ghirl
By: Paul Cuddihy on 25 Apr, 2012 14:23
HEATHER Richards couldn’t have asked for a better start to her Celtic career than to score the winning goal in the first competitive match of the season. Her debut goal, in first-half injury-time, was enough to give the Hoops a 1-0 victory over Hibernian in the League Cup.
And for the teenage striker, who joined the club from Rangers ahead of the new season, it was the perfect introduction. Having added to her tally with another goal in the recent 9-0 win over Falkirk, Richards is delighted with how things have gone since her move to Celtic.
“Everyone’s been really welcoming at Celtic,” she told the View, “and we’ve got a really talented squad here. There are a lot of good young players, as well as some experienced ones, and they are really eager to help the younger players, passing on advice, and it’s really inspiring.
“It’s a great opportunity for me to have joined Celtic, and it was an easy decision to make. And I was pleased to score on my debut. It just makes you feel part of the team and shows what you can do.”
The 18-year-old is one of a number of new players to have joined Celtic for the 2012 season, and things couldn’t have gone any better for her or the team, with a 100 per cent record ahead of last weekend’s League Cup clash with Rangers.
Richards has already got over the hurdle of facing her former team as the first derby of the season took place on the opening day of the league campaign, with the Hoops beating their rivals 3-0.
It might have initially seemed strange to be lining up against her former team-mates, but once the whistle signalled the start of the game, everything else was forgotten and her focus was solely on helping Celtic win the match.
And even though she’s only a couple of months into her Celtic career, Richards is already aware of the benefits.
“I think the whole team has done well, and it’s been a really good start to the season,” she explained. “And even from the first game of the season, you can see us improve.
“I’ve noticed an improvement in my own game. The tempo of everything we do at Celtic – training and playing the games – is so high, and everyone is always trying to get the best out of each other.
“Every player here is so talented. There are players younger than me, aged 16 and 17, who are pushing through trying to get in to the team, so it’s very competition.
“My target is to try and establish myself here and keep my place in what is a really good team. Our target is obviously to try and win the league, and we’ve got off to a great start.
“We just have to keep it going, and make sure that when the big games come around, we’re up for it.”
At the moment, Richards is fitting her football commitments round her studies. She is currently completing an HNC in sports coaching at the City of Glasgow College, and aims to undertake a Sports Studies degree at the National Academy in Stirling University later this year.
That can only further enhance her footballing talents, which will benefit the player and Celtic.
The striker, who hails from Airdrie, has made impressive progress through the women’s game since she first showed an interest in football at primary school.
“When I was about seven, I started training with a boys’ team, but I also used to go to dance classes,” she explained. “And my mum and dad soon realised that I preferred running about a park kicking a ball than dancing.”
At the age of 11, she joined her first girls’ team, Cumbernauld Cosmos, and for the past couple of years she played with Rangers, progressing quickly from their Under-17 side to the first-team.
Now, having scored two goals in her first four games with her new club, the young striker wants to keep improving as a player and hopefully bring silverware success to Celtic.
“It was really good to score my first Celtic goal on my debut,” she said. “It was a good Hibs team we were playing, so to beat them and score the winning goal was great.
“There is a lot of talent here, and there’s a real confidence in the squad that we can do well this season. We just need to keep playing to our best in every game and hopefully we can be successful.”
The huns complaining about being punished just now when the admin and -10pts have already taken place.
Is abit like a drunken ned stealing a car, getting caught speeding then complaining about the no insurance charge, no MOT charge and drink driving charge as surely the speeding fine is enough.
Stupid Hurtin Huns!!
SSN
Lovenkrands now having his say on the huns.
How many contracts did you have ya diving cheat.
After seeing the names and c/o on that three man plus others panel no wonder Allistair was annoyed,Rankers would have got a fairer hearing in front of the the knights of St Columba.
he he he he he
From Here Is The City
Rangers say they are to appeal their 12 month transfer embargo. We think they have got lucky and should just get on with it.
Ally McCoist says the transfer ban imposed on Rangers would kill the club.
We’re sorry we don’t agree.
A club like Rangers will never be ‘killed off’.
They have fantastic support, a huge ground, and a famous name worldwide.
Is the transfer ban a setback? Yes of course it is, they would be forced to play kids from the youth team if their current stars all leave.
But that might just be a good thing, who knows what talent might emerge? If it leads to relegation from the SPL, they will soon bounce straight back up.
Rangers fans need to get real. Thanks to what some describe as ‘financial doping’ they have been punching above their weight for the best part of the last decade, and now it has caught up with them.
Clubs can survive huge punishments. Look over to Italy.
Juventus and Fiorentina are two clubs which have been dealt harsh punishments over the past 15 years, and have come back fighting, thanks to their infrastructure and dedicated fan base.
Fiorentina hit the wall in 2002. From competing in the Champions League just years earlier, with Gabriel Batistuta scoring a memorable goal against Arsenal at Wembley, they went bankrupt.
At the start of the 2002/02 season they were even refused entrance to Serie B, and had to start again from scratch forming a completely new club in the fourth tier of Italian football.
With their substantial fanbase, and at last sensible management, they were able to rise to the top, and are now back in Serie A.
Juventus even were stripped of their title and demoted to Serie B after a match-fixing scandal in 2006. They too bounced straight back, and are now competing for the Scudetto.
It all indicates that Rangers will never die, no matter how melodramatic McCoist and co. make it sound.
If the very worst happens, and a new club has to be formed a la AFC Wimbledon or Fiorentina, they can do it.
It might just be fun along the way. Rangers have done wrong, they should be grateful that they have not been sent down the divisions like Fiorentina.
A transfer ban for 12 months is a small price to pay. Did they think they were going to get off scot-free?
See the bringing the game into disrepute charge for the huns does anybody else think its for giving false info to get the Euro Licence? Just got a feeling they lied about the tax paid upto 31st March.
BRT+H- yes to both, I’d even leave him in charge of the ‘huge warchest’
The Hillbillies might not see it, but what I’d say to them is ‘no pain, no gain!’
Craig Whyte has done them a big favour by rescuing them from the evil clutches of ole Dave Murray, with his EBTs and his 12m for T-A Flo.
You mark my words, in ten or twenty years they’ll be building statues to Craig Whyte all over KinningPark , and greater Ayrshire in general.
lovenkrands……
To be fair to him said there are rules and regs to follow but as a fan he hopes the SFA go easy on them.
Still a diving cheat though with how many contracts?
McNair..,
Thought the lisence was granted before our hero took over.
How can a club which owes hundreds of thousands in unpaid transfer fees moan about a transfer embargo?If I can’t afford to repay my mortgage and then walk into the bank and ask for another one I know what the answer would be.Call security!!
It’s been immense fun. Check out Feb18th.
February 13 – Rangers apply to the Court of Session in Edinburgh to enter administration proceedings. Owner Craig Whyte announces that the bill for the major tax case, concerning the improper use of Employee Benefits Trust under previous owner Sir David Murray, could amount to £75 million.
February 14 – Rangers appoint administrators Duff and Phelps after a court battle with Her Majesty’s Revenue and Customs. They effectively forfeit the title to Celtic after being docked 10 points. Duff and Phelps reveal that HMRC lodged their petition to take Rangers into administration over the non-payment of about £9million PAYE and VAT since Whyte’s 2011 takeover.
February 15 – Administrators insist that Rangers will continue to exist as a football club.
February 16 – Administrators announce that parties not connected directly with the club have expressed an interest in taking over from Craig Whyte. Administrators also express concerns over Whyte’s stewardship of the club.
February 17 – Whyte expresses confidence that investigations will prove “every penny has been accounted for”.
The Scottish Football Association launch an independent inquiry into the activities of Rangers, specifically whether Whyte is “fit and proper” to hold a position in the game. Rangers attempts to sign Daniel Cousin are thwarted despite having announced his signature prior to entering administration.
February 18 – Manager Ally McCoist welcomes the SFA inquiry after his side’s 1-0 defeat against Kilmarnock at Ibrox.
February 21 – It is revealed that a Craig Whyte had made a deal with Ticketus to pay off Rangers’ outstanding £18 million debt to Lloyds, something Whyte had earlier denied.
February 23 – Rangers director of football Gordon Smith and chief operating officer Ali Russell agree to leave the club. A report on the club’s financial dealings is received by Strathclyde Police.
February 26 – Ally McCoist expresses pride at his players’ focus on football following a 4-1 victory over Inverness.
February 27 – Rangers woes worsen as they are fined £50,000 for failing to declare that Whyte had been disqualified as a director.
March 1 – Ticketus call for a “rapid and successful conclusion” to the administration process and say they are willing to hold talks with any potential new owners.
March 2 – The SFA confirm they will investigate claims made by former Rangers director Hugh Adam that payments made to players were not disclosed to the governing body. Duff and Phelps postpone a final decision on cuts after refusing an offer from players to defer wages. Craig Whyte expresses ‘enormous sympathy over impending redundancies at the club.
March 3 – Administrators say redundancies are “likely” as Rangers lose 2-1 at home to Hearts.
March 5 – The Scottish Premier League have confirmed that their board have instigated an investigation into the alleged non-disclosure of payments made to players by Rangers. Rangers administrators consider a proposal from players overnight after failing to reach consensus over wage cuts.
March 6 – Joint administrator David Whitehouse says they have been unable to reach an agreement on a wage-cut plan and that talks will continue on Wednesday. Mervan Celik and Gregg Wylde both offer to leave the club.
March 7 – Liquidating the club is inevitable, claims Rangers director Dave King. Administrators announce that the sale of the club has been accelerated after players fail to agree cost-cutting measures. Joint administrator Paul Clark rules out the prospect of European football for Rangers.
March 8 – Craig Whyte is declared unfit to hold a position in football. The governing body say that Rangers face a charge of bringing the game into disrepute.
March 9 – Rangers administrators announce a package of wage cuts with players that have “directly prevented substantial job losses among non-playing staff both at Ibrox and Murray Park”.
March 15 – Rangers are issued with notices of complaint over alleged breaches of five disciplinary rules. Craig Whyte is alleged to have breached two rules.
March 29 – A hearing set up to determine whether Craig Whyte did indeed breach SFA rules is adjourned until April 17.
April 4 – The administrators confirm they have received four bids for the club.
April 11 – Duff and Phelps admit they have had to delay the announcement of a preferred bidder for the due to proposed changes to Scottish Premier League rules.
April 19 – Sale Sharks owner Brian Kennedy is told his revised verbal bid for the club is not “capable of acceptance”.
April 23 – Rangers {http://www.scotsman.com/news/scottish-news/top-stories/rangers-administration-craig-whyte-banned-for-life-as-club-fined-1-2251667 |receive a 12-month embargo on signing players and owner Craig Whyte is banned for life|Link to story}, whilst Whyte and the club are fined £200,000 and £160,000 respectively, The club intends to appeal the decision.
April 24 – Fans react with anger and disbelief at the SFA’s decision, with many planning to boycott away matches. News also emerges that manager Ally McCoist has suspended stirker Kyle Lafferty for two weeks – meaning he may have played his last game for the club – and admitted he’d be open to the club joining the SFL and entering the Third Division
Neil canamalar Lennon hunskelper extrordinaire on 25 April, 2012 at 15:54 said:
McNair..,
Thought the lisence was granted before our hero took over.
Was the licence not granted as huns promised that the wee tax case would be paid by June 2011.
19/02/2012 BBC
Ally McCoist says he wholly supports and encourages the Scottish Football Association’s full independent inquiry into the activities of Rangers.
McCoist’s club called in the administrators on Tuesday over an unpaid tax bill of £9m accrued since Craig Whyte’s takeover in May.
“Personally, as manager of the club, I would encourage it,” he said.
“I would encourage it because the amount of clarity that comes out of the whole issue is vital to everybody.”
Continue reading the main story
“It hurts an awful lot because we all really, really wanted to get three points for the supporters”
Ally McCoist
Rangers manager
Scotland’s football governing body has expressed concerns about Scottish champions’ “developing situation” and McCoist said Rangers fans, employees and the media all need full disclosure.
“We want all the facts and the figures and everything disclosed,” he said following the 1-0 home defeat by Kilmarnock.
“It’s the very least the supporters and staff deserve and you would see that as a way forward too. So any investigation, myself as manager of the club, would wholly support.
“Listen, we have to have clarity for us to move forward. We have already taken a right good few steps back, so if there are any more to go back, we are as well getting them now because we’ve got a long way forward.”
What happened to the good old days when they could cheat with impunity?Heard that eeejit Derek Johnstone trying to claim the transfer embargo is their punishment.”So that means they now don’t have to pay any monies owed to other clubs.”
Some mensa hun on RM calling himself by the sobriquet ‘blue cornflake’ says he forgot to take his Lithium this morning…he said his peddle bin in the kitchen told him the three SFA panel men are “A taig…a bigger taig…and another taig”. That clears up that then. Theres no flies on these guys…he says he’s gonni help the cause by setting fire “tae awe ra fecking vauxhalk motors in ra street”.
Sally actually said “There are already managers way down south sniffing about our players — I know of that. They are like vultures around our squad at the moment, which angers and disappoints me.”
I wonder if Dundee Utd and St Johnstone were similarly angered and disappointed at the fat lip smacker when he was inappropriately courting Goodwillie and Sandaza
Wonkyradar 15.13
It’s not monkeys that are filling in the surveys, it’s huns. The monkeys are just employed to check the huns’ spelling.
What is it with Rangers and sniffing?
When Dundee were IA were Rangers not sniffing around their players and got Gavin Rae on the cheap? McCoist doesn’t do irony or dignity it seems.
SffS
I see Arneson is leaving the Sheepies. He’d be a good midfield enforcer, and he can play a bit as well.Thoughts?
I have suggested on here previously we show more compassion to our neighbours and help them out in times of need.
I suggested previously that PAUL67 bought the Loving(it) Cup for CQN golf day.
I have just noticed that St Etienne are due £252,000 or there abouts has anyone asked if they are interested in an old Bike ?
Would Arsenal be willing to take some football shares in lieu of what they are owed.
Can we not work our way through AWE NAW’s list in a swap/shop bring and buy sale sort of thging it would be the Christian thing to do.
Of course they are like vultures Sally.Do vultures not usually circle the dying?
‘A group of vultures is called a wake, committee, venue, kettle, or volt. The term kettle refers to vultures in flight, while committee, volt, and venue refer to vultures resting in trees. Wake is reserved for a group of vultures who are feeding.’
New World vultures have a good sense of smell, unlike Old World Vultures, who rely principally on their excellent eyesight.
Vultures may live on carrion but they do have some standards.
Awe_Naw – you are a married man now….behave yourself! :)
Raymac on 25 April, 2012 at 16:09
A decent player i’ve always thought. Would he get in our mid? not for me, and squad players ain’t what we require.
brimmer
headtheball
What is it with Rangers and sniffing?
Quite right!That should read,what is it with Rangers and sniffling?
Championship clubs making losses of more than £6m will be fined millions of pounds or put under a transfer embargo from the 2014-15 season.
Three of the 24 clubs voted against new regulations to limit investment from owners and curb total spending.
Football League chairman Greg Clarke said: “They will begin to lay the foundations for a league of financially self-sustaining football clubs.”
Owners will be allowed to invest £6m next season, £5m the year after, then £3m in the 2014-15 season.
From 2015-16, clubs will be allowed to make a £2m operating loss, as well accept a £3m investment from an owner – allowing for a £5m overall loss.
Clubs promoted to the Premier League that fail to adhere to the amendments must pay a fair-play tax on their losses, ranging from one per cent on the first £100,000 to 100 per cent on anything over £10m.
Non-promoted clubs will not be punished financially for failing to adhere to the new rules, but instead placed under a transfer embargo.
QPR made a loss of £25.4m in their promotion season and would have been fined around £15m if the new regulations had been in place last year.
Clubs relegated to the Championship will not be subject to sanctions in their first season as long as they have met their financial obligations under Premier League regulations.
They would, however, have to pay the fair-play tax if they did not comply with the new regulations and got promoted.
The new regulations are based on Uefa’s break-even model of Financial Fair Play and come after the Football League’s research revealed the 72 clubs of the Championship, League One and League Two are on course to accumulate £2bn of debt.
And chairman Clarke is happy the trend is to be reversed after the successful vote on Wednesday morning.
He said: “On the pitch we have three exciting, competitive divisions with crowds at their highest levels for 50 years.
Riches await those clubs who reach the Premier League. But, as Portsmouth’s recent troubles demonstrate, those who live beyond their means often have a long way to fall when the dream turns sour.
“But that success isn’t necessarily being reflected on our clubs’ balance sheets and we have to remedy that situation or face an uncertain future.
“I’d like to commend the Championship clubs for the courageous decision they have taken today.
“It means that for the first time, all 72 Football League clubs have agreed to take concerted action towards controlling their financial destiny.”
Youth investment and accounting charges from past spending on players and stadium-building will not be included.
Leagues One and Two will continue to limit spending on wages to a proportion of turnover.
Sir Paul
Awe this Trouble that the G.A. hiv Goatten Themsels Intae. could hiv bin easily avoided..
IF..
Someone, in the Ibrox Heirarchy.. in those long gone.. and…. Byegone.. Days..
Hid the Mallam.. Turn Doon.. Murray, Major’s, Takeover Bid.
Howevahhhhhh.. Naebuddy , hid..
So..
That wiz the Foist Step..doon the Road. that Lead tae Perdition.. fur the Ibrox Enterprise..
How dae Ah know this..?
Well. Because. Ah am Firm Believer in the Following.. Allegorical Tale..
which, Ah Hoid.. Many Years ago..and Ah follow it’s contained Wisdom. tae the Letter. whenever, Ah wanna Find oot ..
“Who Hit John?… And Where?… And How?”
The Tale..
Two Guys, where awe set tae enjoy a Lazy Day , at the Local. Fishing Hole.
When they goat there.. They wur Astounded tae Observe..
A Deid.. well Ah guesss it was Deid!.. Boady.. Floating By,in the River.
“Well.. Ah’ll Be…! ” cried .. Nutsy..
and
“So Wull .. Ah’ll Be.. as weel!” Quothed… Algy.
Just at that.. Tae The Pair’s Further. Astonishment..
‘Lo and Behold!..as they say, at this point,in awe the really
interesting tales..
Whit dae ya Know?. Alang,comes ANOTHER .. Deid.. Boady..
intae Thur Sight..and Floated Majestically , By.. Doon Stream.
“Well, Ah’ll Be.. Doubled Be-ed! …” Ah wonder How awe this His come Aboot? We wull need tae Report that we hiv Found awe These Deid Boadies in the River…, tae the Police”.Exclaimed.. Nutsy.
But, Algy.. Didnae say a woid..
He jist started, tae walk, away from his Companion..
“Hey.. Algy.. Where ur ye Goan?” Shouted Nutsy..
“Ah am gonna Walk BACK, up the River.. Tae Find oot..
WHO the Bloody Hell.. Is THROWING THEM…IN!”
Yep… that is Ayeways the Very Foist thing Ye must dae..
Tak a ” Walk, Back.. Up the River”… whenever ,ye are Foist Presented by a Surprising and Totally ..Unexpected Situation..
sure.. Ye wull still be Stuck . wi.. “The Surprise”..
Fur, by this time..it is Far Too Late.. fur Tears.
Howevahhh. At least Ye wull Find Oot.. The Reason, why.. ye Goat intae this situation,in the First place.. and dae ye best.. in the Future.. tae Really Apply..”Due Diligence”.. and no get caught oot, again.
Ah believe.. this… is Called..
Learning, by Experience..
And Obviously. The Ibrox Movers and Shakers.. Didnae learn, wan thing..
Fur.. When Murray Major, because of His Reckless Borrowing..and Spending.. hid Done the Ibrox Enterprise.. up..like .. as the Say .. aroon the Campfires..
“Like a Pan Loaf”.. and caused them tae Advertise Fur a Saviour fur Thur Fast Failing Enterprise..
Because..
Naebuddy, at Ibrox in the Marsh.. Hid the Mallam.. tae Tak a Stroll .”.BACK UP the River”…
Ergo..
The Predictable Result.. wiz..
THEY WENT AHEAD. and Goat themsels . once again intae Deep Doo Doo..
By..
Slithering Oota the Frying Pan.. and Jumping Feet Foist intae the
PRESSURE COOKER!
By Picking Another . Dumb and Devious… son of a Lady Dug.. tae
Guide thur Future…
By the Name o’
Mr. Whyte.
Yep..Ya goatta Hiv Mallam..
or..
Ye wull Nevah be a Success..in Life..
Right?
Damned Right!
Kojo
Still Laughin’.. ME and… L’i’l Audrey.
Breeny at 15:05:
Why is the outcome of the tax cases taking so long? Is there a strategy as to when results are released and if so what could they be waiting for? Thanks, Breeny
It’s a tribunal and I’m not 100% sure of the composition of the panel hearing Ranger’s appeal but the more complicated an issue is, the longer it takes for a decision to be published.
I’ve had the misfortune to have been at a number of tribunals in NI and I’ve seen judgements delivered in a couple of weeks and others it can be 6 months or even a year.
Basically what happens is that the panel hears all the evidence and then retires to make its decision. In doing so the panel members will have to consult a variety of sources including case law to see what its decision should be.
As panel members may not be full time employees of the tribunal service (not sure on this at all) it might also take longer for them to get together for meetings etc.
Mort
McNair…,
Lisence grante on information issued by 29th March, when did our hero take over
I wonder how many times Salmond intervened on these companies behalf…
A record number of Scottish firms went bust in the first three months of this year, official figures have revealed.
Accountant in Bankruptcy (AiB) reported 385 Scottish firms became insolvent or entered receivership in the last quarter.
The number was 37.5% higher than the previous quarter and 30.9% higher than the same period last year.
The figures showed nearly 30 businesses a week went bust in Scotland in the first 13 weeks of this year.
Accountants PKF said it was the highest number in any quarter on record.
PKF corporate recovery partner Bryan Jackson said: “These figures show the real state of the Scottish economy. Many companies are simply having to close down as they cannot see an end to the economic gloom.
“There will undoubtedly be businesses which have used up years of cash reserves to stay afloat but have now found they are unable to carry on due to the relentless lack of an upturn in the economy.
“The news that the UK economy has fallen into a double-dip recession is unlikely to surprise any of the business owners who have gone bust in the first three months of this year.”
Neil canamalar Lennon hunskelper extrordinaire on 25 April, 2012 at 16:20 said:
McNair…,
Lisence grante on information issued by 29th March, when did our hero take over
Early May 2011
Will Ally demand to know the names of the FTT panel and why they tried to kill his club? (which hopefully they do).