The 5 year egg timer

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In my previous post I highlighted the fact that Charles Green was overwhelmed by the hatred he experienced when attempting to launch his phoenix operation. One would naturally ask the question as to why the chairmen of the leading clubs were so opposed to the SFA/SPL attempted subversion of their own rules. Would it be fair to posit that they had engaged in an arms race with David Murray’s Rangers and that his £10 for every £5 spent was not subject to tax?

Mr Murray was reputed to have used a five minute ‘egg-timer’ at Rangers board meetings. If matters could not be resolved within this time frame he would move on to the next item on the agenda. Challenges to his authority, and in particular in regard to his tax avoidance strategies, have never been reported. As Hugh Adam stated, everyone knew he that was cheating but it did not benefit anyone to discuss it.

William Nimmo Smith made a decision that many found surprising. He chose to consider the Discounted Option Scheme (DOS) within the context of EBT. He should have been aware that DOS had been declared illegal by an Inner House ruling against Aberdeen Asset Management in 2010. However, when Harper Macleod approached Duff & Phelps for details on the DOS and the side letters,the administrators refused to comply.