The Bain Papers.

The revelations today on the Rangers Tax Case Blog could not have come at a worse time for Rangers and their new owner Mr Craig Whyte.

The publishing of the papers from Martin Bain’s case against his former employers contain highly damaging facts about the new regime at Ibrox, especially their attitude to the on-going disputed tax case with HMRC.

http://rangerstaxcase.com/2011/09/10/martin-bain-his-lawyers-rangers-insolvency/

If these court papers are, indeed, genuine then they are truly explosive!

Some of the information contained within them has been doing the rounds for some time.

https://www.philmacgiollabhain.ie/martin-bains-race-against-the-clock/

However, this is the first time that they have been laid bare in forensic detail from one side in this legal dispute.

That includes the eye watering sum being sought by Mr.Bain: £1,308,853.50p.

This maybe greater that Rangers’ net spend in the summer transfer window.

It is hard to envisage such an amount being paid by the current regime without some difficulty.

However to see the facts in black and white does take it to another level.

It states that Mr.Bain’s legal team from Balfour & Manson wanted the case processed with all appropriate haste because they feared that the defender (Rangers FC) might not exist due to insolvency.

This is similar in tone to the concerns expressed by Rangers former lawyers Levy & McRae when they clashed with Rangers over an unpaid legal bill of £35,000 in the Court of Session in Edinburgh last week.

The Ibrox club’s former lawyers stated that they had a “real concern about solvency” in relation to Rangers.

That is TWO firms of lawyers have in Scottish courts recently expressed a concern over the long term solvency of the current SPL Champions.

The court papers refer to the Ibrox club’s inability to pay bills on time.

The “Bain papers” also shines a light on Mr.Whyte’s attitude to the tax case. It is stated that if the tax bill was over a certain amount “…he was prepared to pay £10 or £15 million. Beyond that he would let the company go under.”

It also questions the actual worth of Rangers’ fixed assets; Ibrox stadium and Murray park if a “forced sale” was to go through.

Now that this information is in the public domain it may be admissible to the Tax Tribunal when it re-opens in November. I fear that some people at Rangers will have further explaining to do at the Tier One Tax Tribunal in November.

The RTC blog has consistently provided valuable forensic analysis since the blog first appeared.

HMRC’s legal team can now claim these papers to be admissible in evidence in the Tax Tribunal.

If these papers are genuine and I have no idea of knowing if they are then I am sure that HMRC will want their hands on the real ones lodged with the Court.

Clearly there will be legal hurdles to be surmounted before that can happen.

However, this could be the piece of the evidential jigsaw that results in Rangers Football Club losing the tax case.

That such a coup de grace was administered by an anonymous ,perhaps obsessed, blogger does indeed show the power and reach of this technology.

The fact that these revelations, which could prove decisive in the tax case, involves a true Rangers man like Martin Bain makes RTC’s exclusive all the more remarkable.