Ex-Gers chief is called on to explain Ibrox sale decision
Green wanted as witness in asset case
A FORMER chief executive of Rangers is being asked to give evidence in a £56.8million action brought by a financial firm over claims Ibrox should have been sold to pay off debt.
Charles Green is being called in by the club’s former administrators David Whitehouse and Paul Clark over claims they should have sold off the stadium and other assets while they were in control of the club.
Rangers’ liquidator, BDO, is taking the case against the pair, claiming the lack of an asset sale left less money to split among creditors.
Lawyers for Whitehouse and Clark have asked that Green gives evidence at the Court of Session.
Andrew Young QC, who is acting for the pair, told judge Lord Tyre yesterday that solicitors are awaiting for a response from Green, thought to live in France.
The company believes Whitehouse and Clark didn’t cut costs sufficiently when they were brought in to sort the then-ailing club.
Lawyers for BDO claim the pair, who worked at Duff & Phelps, could have raised more cash for the claim, which they deny.
It’s understood BDO believe Ibrox stadium and the club’s training complex, corporate brand and players should have been sold and the proceeds put towards club debts.
Speaking about attempts by Whitehouse and Clark’s legal team, Mr Young said yesterday: “We are still waiting on a response from Mr Green.”
Whitehouse and Clark, who are contesting BDO’s claim, were appointed by the Court of Session as administrators after HMRC took Rangers to court for £18million of unpaid tax in 2012.
Later that year, the two men sold the business and assets of the old company to Green’s consortium for £5.5million before BDO was appointed to liquidate the oldco.
The three men were later among seven indicted over fraud allegations relating to Rangers – before the case against them was dropped in June 2016.
Whitehouse and Clark raised an action against prosecutors and police last year and have since received large settlements.
Mr Young also told Lord Tyre yesterday that wished to speak to former Rangers star Steven Naismith’s agent Peter McLean.