It's been going on for years with myriad companies, why are Rangers any different to any other company who have used the same trick? A timber frame company went bust recently and I checked out its directors. During the course of the past ten years, they co-ran 16 current or recently dissolved/liquidated companies (most are set up and then quickly dissolved as it happens, and one of them had three further companies too). http://www.accountingweb.co.uk/anyanswers/phoenix-companies-new-record
I think they can set up, but not under same name, using same customer base etc etc. HMRC site has the criteria and SEVCO meet all five, but the final judgement is subjective. I suspect that small companies are overlooked a little, but the publicity and high profile around SEVCO could push HMRC or BDO hand. Green seems to gloat about having no debt, but stiffed creditors including hector. Got a feeling that we have not heard the last of this. Motivation is all that is needed.
