So it would appear that a version of 'rangers' has lost the tax case appeal. I don't know if that's oldco, newco, newclub or oldclub since newclub claims to be oldclub but newco is not oldco although newclub has oldco's stuff but not its history or debt and it's very confusing. I am really looking forward to the endgame when newco, newclub, oldclub and oldco finally get nailed into the coffin and buried. After assets have been sequestrated and titles have been stripped, of course.