Fireworks night 2015 arrived a day early in Govan as 4 November proved to be a contentious day in the history of Rangers. The club's PLC owner, Rangers International Football Club, announced a loss of £7.5m for the year ending June 2015. This meant the company was required to find approximately £2.5m in order to cover expenses for the rest of the season. Moreover, the outcome of HMRC's appeal against the decision of the First-tier Tribunal regarding the previous owner and its use of EBT's. The Court of Session ruled that the use of Employee Benefit Trusts broke tax rules therefore the payments were eligible for tax deductions, although an appeal to the Supreme Court was sought less than a month later and granted in March 2016. This judgement caused debate in Scottish football as many people erroneously believed the decision made by the Nimmo Smith commission not to strip Rangers of titles was based on the outcome of the tax case. Coincidentally, the Commission's ruling was taken to an arbitration tribunal by the club's owners with RIFC PLC disputing its liability for the £250,000 fine plus £150,000 in additional costs, imposed on the company that previous owned the club. The SPFL subsequently imposed this on the new owners of the club as part of the terms of the five way agreement. However, an independent SFA tribunal ruled that RIFC PLC was liable for the fine in March 2016.