From: David Grier <DGrier@mcr.uk.

com>
Date: 14 August 2011 15:11
Subject: Security review.
To: "ctw@libertycapital.biz" <ctw@libertycapital.biz>


Craig,

Gary mentioned that you may instruct a QC to provide an opinion on legal documents.

One thing to consider here is that QC's don't normally provide liability cover in the event that they are
wrong, whereas a firm of lawyers would. We have been quoted 7.5k from Eversheds to conduct a
security review and would expect other to be in a similar range.

For information the following proposal has been made to HMRC and expect to have a response
tomorrow.


In acknowledgement of the outstanding liability the club can offer HMRC an immediate payment of
250k. This being conditional on the following points.

a) written agreement from HMRC that no enforcement action will be taken and that the effect of the
summary warrant will fall away.

b) HMRC enter into negotiations to reach agreement for a 'time to pay' proposal based on a
repayment plan over a 3 year period.

c) future interest and charges are suspended.

d) HMRC agree to a significant reduction of previous applied charges and interest.

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Regards,

David
David Grier
Partner
MCR
43 - 45 Portman Square
London W1H 6LY

Office: 020 7487 7240
Fax: 020 7487 7299
www.mcr.uk.com