THE NAME GAME
I've banged on here quite a bit about the Insolvency Act 1986, especially Sections 207 and 216. I am pleased to admit that I was wrong about Section 216. That is the section that deals with phoenix companies. Having re-read the relevant section I have changed my mind about Green's new club.
According to my interpretation of Section 216 a phoenix company is barred from using the name, or a similar one, ONLY if the new company is set up by someone involved in the old company. As far as I can tell Green was not involved; he was only a potential buyer. This effectively means that he can call his new company, team, whatever, anything he likes. From my reading of the legislation he did not need to call it THE RANGERS; he could simply have called it RANGERS with impunity.
So it turns out I was wrong. Green's new team is RANGERS!
I could possibly be wrong about his transgressing Section 207 as well but I don't think I am. We'll see what BDO make of it!
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