FIRM’S BID TO GET £18M FROM OLDCO RANGERS
A COMPANY linked to Craig Whyte have launched a bid to get £18million from OldCo Rangers.
The Rangers FC Group Limited are engaged in proceedings at the Court of Session in Edinburgh against club liquidators James Stephen and Malcolm Cohen.
The firm were formerly known as Wavetower, who were owned by Whyte’s former holding company Liberty Capital. The ex-Rangers owner was last month acquitted at the High Court in Glasgow of taking over the club by fraud in 2011.
According to a judgment issued by the Court of Session yesterday, Rangers FC Group believe they are owed £18million plus interest.
The liquidators rejected the claim almost two years ago. And in March last year, judge Lord Doherty decided not to hear an appeal until the conclusion of legal proceedings against Whyte.
He imposed reporting restrictions on the case. But since the businessman has been acquitted, Rangers FC Group are now free to continue their appeal.
Earlier this month, the Record published a document that showed the club’s debt to Lloyds Banking Group was never cleared but simply transferred to Wavetower.