SIR David Murray has hit back at Dave King, who last week said he would sue the former Rangers owner for £20 million for a failure to disclose financial information concerning the welfare of Rangers.

South African-based King, who is originally from Glasgow, invested £20m in the Ibrox club 12 years ago and has been a director ever since.

He issued a statement saying he would launch legal action against Sir David to recoup that sum but nothing has arrived from his lawyers so far.

Mr King is embroiled in his own tax battle in South Africa which will bar him from being on the board in any new regime. He is, however, a major backer of Paul Murray's Blue Knights and could invest in any share issue should they take control later on.

And Sir David revealed: "In 2000 I got a phone call from Alastair Johnston (former chairman) who said 'I've got a guy here who would like to invest in Rangers. His name's Dave King'.

"I said fine, I'll meet him. I never met him. Several days later £20m arrived. There was no diligence, no checking, nothing.

"Several months later I met Dave. Then all of a sudden the word SARS (South African Revenue) started appearing and there were inquiries.

"Dave King received quarterly business information: audited accounts, reports, access to management. He has on several occasions looked like he was in a position to want to buy.

"I had to rush to Glasgow one day. Two directors had to go to London once. And on other occasions he has postured to possibly buy the club and has stuck his head above the parapet. But never once has it come to anything.

"He came here at the end of February and asked for a meeting with Mike McGill (Murray Group finance director) and I think he (King) made it quite clear he did not believe at all that we knew about Ticketus.

"But he was through that wall there, my door was open, I asked Mike to ask him to come and see me but he (King) was down the stairs and out, wouldn't come into my office."