Charles Green denies Craig Whyte claim over Rangers

Wednesday 17 October 2012

Charles Green has denied a claim from Craig Whyte that the former Rangers owner made the introduction which led to the Yorkshireman's consortium buying the club.

Whyte makes the comments in an interview with BBC Scotland, to be broadcast this evening.

Green's Sevco Scotland firm took control of Rangers in June after the club plunged into administration under Whyte's stewardship, leading administrators Duff and Phelps to seek a buyer.

In a statement, Rangers chief executive Green said: "Yet again Craig Whyte's version of events paints a misleading picture of what actually happened and it's regrettable that the BBC is providing him with such a platform. "The facts are that direct contact was made by our consortium with Craig Whyte in the first instance as it appeared at that time that his shares would have to be secured in order for any purchase of the Club to progress. "I was not present when contact was initially made but subsequently met Craig Whyte who introduced me to the administrator. "I had no previous association with Craig Whyte and it is misleading to suggest he 'brought us in'. "I was brought to the transaction by Imran Ahmad following Duff and Phelps contacting Zeus Capital's Manchester office in February, due to their experience in the football sector." Meanwhile, Oldco Rangers moved a significant step closer to its inevitable liquidation today when creditors approved the end of the administration process, according to Duff and Phelps. The administrators have instructed lawyers to make a formal application to place the company into liquidation in the Court of Session. The club was consigned to liquidation in June when Her Majesty's Revenue and Customs, who are owed up to £94million, rejected an offer to creditors. That prompted Charles Green's Sevco Scotland firm to buy the club's assets and business for £5.5million and relaunch Rangers on the pitch while the original company, which was renamed RFC 2012, headed for liquidation. Paul Clark, of Duff and Phelps, said in a statement: "Creditors have today given their approval for the administrators to bring the administration process to an end and to place the company into liquidation. "As a result, we as administrators have instructed our legal team to prepare the necessary application for lodging in the Court of Session as a matter of urgency. "Should the application be approved, then Malcolm Cohen and James Bernard Stephen of BDO will be appointed liquidators of RFC 2012 plc, and will undertake the process of liquidation of the 'oldco' company and the continued recovery of funds for creditors. "This will not affect the current operations of The Rangers Football Club in any way as it is a completely separate entity." The liquidators, whose identity was already known, will have the power to investigate the recent financial affairs of the company and pursue legal claims, such as one against law firm Collyer Bristow, who acted for former owner Craig Whyte. Duff and Phelps defended their performance despite failing to prevent the liquidation. The London-based firm were also investigated over claims of conflict of interest relating to their previous working relationship with Whyte before and after his takeover in May 2011. Clark said: "As administrators, our primary statutory function was to ensure Rangers continued as a business and this was achieved. "Secondly, we were tasked to secure a buyer for the club and this too was achieved. We are delighted that plans for the revitalisation of Rangers are now continuing with the new owners' intention to float the club on the AIM market. "There has been widespread comment on the administration process but in reality the period 'oldco' Rangers has been in administration has been comparatively short. "Our conduct of the Rangers administration has been the subject of intense public scrutiny and we are wholly satisfied it has been carried out the highest professional standards. We have co-operated fully with inquiries into our appointment by Lord Hodge at the Court of Session and the Insolvency Practitioners' Association."

Contextual targeting label:

Business

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

Charles Green denies Craig Whyte claim over Rangers

Commenting & Moderation

MOST READ

SPONSORED LINKS

MOST COMMENTED