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Liquidators are appointed

Two partners of the accountancy firm BDO were yesterday formally appointed as the liquidators of The Rangers Football Club plc, the company that went into administration last February and whose business and assets were then sold to Sevco, who are now called The Rangers Football Club.

A meeting of creditors at Glasgow's Hilton Hotel approved the selection of James Bernard Stephen and Malcolm Cohen, who now have the full powers under the Insolvency Act 1986 to begin the process of recovering funds for creditors and investigating the actions of previous directors and the administrators, Duff & Phelps.

Only around a dozen creditors attended the meeting, and they also voted for the appointment of a liquidation committee, which will liaise with Mr Stephen and Mr Cohen. The committee will comprise representatives from Ticketus, Her Majesty's Revenue & Customs, as well as Andrew McCormack, chairman of the Rangers Fans Fighting Fund, Bryce Findlay and Elaine Cringle.

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