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Old 04-08-2013, 02:20 PM   #151
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It had all gone a bit quiet on the Rangers front and now time for an all new crisis... hate figure Craig Whyte is back and demanding back ownership of Rangers.

http://local.stv.tv/glasgow/220306-c...ers-ownership/


Former Rangers owner Craig Whyte is believed to be planning to launch legal action to secure the club's assets from Charles Green's consortium.

The former owner of the Ibrox club, who purchased an 85% stake in the 'oldco' from Sir David Murray for £1, has instructed London-based lawyers to serve Rangers with a writ demanding the assets are handed over in the coming weeks.

His legal action centres on the £5.5m deal which saw the club’s assets, including Ibrox stadium and the Murray Park, transferred from Rangers oldco to Sevco Scotland Limited.

Sevco Scotland Limited, which was later renamed The Rangers Football Club Limited, was created by Mr Green and his consortium. Title deeds for the club’s property indicate that the assets were transferred to Sevco Scotland on June 15 last year, the day after the oldco failed to secure a company voluntary arrangement (CVA) route out of administration.

Rangers previously stated that Sevco 5088 Limited, which administrators had identified as the pre-determined 'newco' for the club, transferred the assets to Sevco Scotland Limited to ensure that "the club’s corporate entity would be a Scottish registered company as it has always been."

However, it is believed Mr Whyte’s legal action is based on his claim to have been the man behind Sevco 5088 and in control of its assets.

His lawyers issued the current regime at Ibrox with a letter in December ahead of the £22m stock market flotation of new parent firm Rangers International Football Club plc, which warned that he would take Mr Green’s consortium to court over the deal as they had not received permission from him to the transfer of assets to Sevco Scotland from Sevco 5088.

The only director listed at Companies House for Sevco 5088 Ltd is Charles Green, while he signed off on a proposal to have the firm dissolved at the end of 2012, although it has not yet been struck off.

'Completely discredited'

In a strongly worded response, Mr Green branded Mr Whyte's claims as "delusional" and said the former Ibrox owner was "completely discredited".

Mr Green said: "Once again Craig Whyte has made serious allegations against the people who have committed themselves to rebuilding a Scottish institution which, almost single-handedly, he dragged towards the brink of oblivion.

"That he, after all he did to damage Rangers and the Club’s vast and loyal support, should attempt to denigrate those who stepped in to pick up the pieces and begin what will be a huge restructuring of the Club at all levels is deeply disappointing but predictable.

"We all need to be absolutely clear on what is happening. These are distorted and malicious allegations coming from a man who is completely discredited and now under police investigation."

Read the full text of Charles Green's statement in response to Craig Whyte's claims.

The Crown Office ordered Strathclyde Police last June to launch a criminal investigation into Mr Whyte's acquisition of Rangers in May 2011 and his financial management of the club.

Mr Green said there was no question of Mr Whyte being offered a route back into Ibrox or that he was in any way involved in the Sevco consortium.

"Mr Whyte wanted to be part of our group and wanted to invest £6m, which of course we would never have taken, but instead he went from that to demanding £1m in perpetuity from us plus six seats in the Directors’ Box and six in the Members’ area," Mr Green said.

"This was demanded in return from him giving us his shares. He was told in no uncertain terms that this was ludicrous and since then he has continued to try to derail our work at Ibrox which includes massive redevelopment plans."

He went on: "We cannot understand why Mr Whyte keeps going to the media rather than the court. He has threatened to take Duff & Phelps to court, the SFA to court and now Charles Green and Imran Ahmad. We suggest he gets on with it.

“If he wants to go to court we would be delighted to see him there. It is a shame Mr Whyte keeps trying to destabilise the Club he very nearly destroyed."

Previously, Mr Whyte issued a writ against BBC Scotland in February 2012 over a 2011 documentary in broadcast in which it was revealed that he had been banned as a director for seven years in 2000. However, no court hearings took place and his lawyers, Bannatyne Kirkwood France and Co, reached an out-of-court settlement with Mr Whyte over an alleged unpaid bill.

The Motherwell-born businessman also threatened to sue the Scottish FA after it banned him from any formal appointments in association football for life, although no legal action has occurred.
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Old 04-08-2013, 02:56 PM   #152
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I'm surprised Whyte is still alive, he certainly seems to have a death wish.
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Old 04-08-2013, 06:22 PM   #153
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Quote:
Originally Posted by old crust View Post
I'm surprised Whyte is still alive, he certainly seems to have a death wish.
Seems that way
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