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"there" tax probems in 94

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Was speaking to a mate who pointed out to me that when they had there own problems in 94 they had to change there name from c*ltic football and atletic plc to the celtic football club rendering them a "new comp" and then meaning that they only exist since 94.

Just out of interest does anyone remember this or know if there is any truth in the claim so that i have a small bit of ammo for the slagging that we will take!

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from wiki

the Bank of Scotland informed Celtic that it was calling in the receivers on 3 March 1994 as a result of the club exceeding a £5 million overdraft. However, expatriate businessman Fergus McCann wrested control of the club, and ousted the family dynasties which had controlled Celtic since its foundation. According to media reports, McCann took over the club minutes before it was to be declared bankrupt. McCann reconstituted the club business as a public limited company - Celtic PLC

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