Non-preferential Creditors
5.24 A summary of the non-preferential creditors is set out below:
5.25 Non-preferential claims will be calculated as at the Relevant Date.
Proceedings
5.26 No executions or distraints have been levied on any of the assets belonging to the Company.
Supporter Debenture Holders
5.27 The Company issued 6,050 debentures in 1990 to raise capital to fund the building of the club deck on the Govan stand at Ibrox. The debentures ranged in value from £1,000 to £1,650 and the total value of the issued debentures is £7,736,000. The debenture entitles the holder to various benefits (the ―Benefits‖, as defined in the debentures), including the right to purchase a season ticket in a designated seat and to have a plaque with their name affixed to the seat.
5.28 In accordance with clause 2.3.2 of the debenture, the debentures are repayable in full upon the appointment of Administrators of the Company and in consideration for the surrender of the Benefits. This means that debenture holders presently have the option to surrender their Benefits in exchange for a distribution via the CVA as an CVA Creditor. Debenture holders should note that CVA Creditors will not be repaid in full via this CVA. Any debenture holder who submits a claim in the CVA for repayment of his/her debenture stock will be taken (unless otherwise agreed by the Supervisors) as concurrently surrendering his/her
Creditor
Claim (£)
Trade & Expense Creditors
5,544,508
Ticketus LLP & Ticketus 2 LLP (―Ticketus‖

(amount of claim to be confirmed)
26,711,857
HM Revenue & Customs – Excluding EBT Case and the Discounted Option Scheme Case
18,324,285.42
HM Revenue & Customs – Discounted Option Scheme Case
3,052,481.67
HM Revenue & Customs – the EBT Case
TBC
Supporter Debenture Holders – see paragraph 5.28
TBC
Football Related Creditors
1,063,082
Employees
TBC
Total
TBC
http://www.rangers.co.uk/staticFiles/c9/b3/0,,5~177097,00.pdf