Martin Bain faces court bid over cash grab claim

[ian1964 10,409]

FORMER Rangers chief executive Martin Bain is being sued by the Ibrox club over claims he drew an "excessive" amount if cash from them.

 

Bain is taking the SPL giant to court over his departure following venture capitalist Craig Whyte's takeover.

 

But during a preliminary hearing at the Court of Session in Edinburgh yesterday Rangers' lawyer Gavin MacColl said the club wanted to lodge a counterclaim.

 

Mr MacColl said the club felt Mr Bain "breached" the terms of his duties and that "manifested itself in Mr Bain drawing excessive monies from the company".

 

He added: "The counterclaim will be to seek recovery of these excessive monies."

 

Mr Bain's counsel Charles Cowie said his client was "very keen" to make progress in the action.

 

Lord Menzies allowed the counterclaim from Rangers.

 

The case is not expected to return to court until October.

 

Read more: http://www.thescottishsun.co.uk/scotsol/homepage/news/3746128/Martin-Bain-faces-court-bid-over-cash-grab-claim.html#ixzz1UgYRImMw

[chilledbear 16]

Out of Court Settlement?

 

For the good of the Club, I hope so.

[Guest Dutchy]

It says this is a counter claim, does that mean it will be the same hearing, or are there now two seperate claims goiing to law. whether either oof them ever get to court will decide the amount of costs. I'm bringing this up as I'm sure the loser still has to pay costs in any type of claim like this. Obviously Rangers are attempting to put further pressure on Bain, hoping that he will settle out of court, but whoever lost would be liable for the costs of both actions, thus trying to put the frightners up him.

[GovanAllan 0]

Thing about Whyte and his legal team is they don't seem to pick a fight, they don't think they can win somethings he's let go others he's come out all guns blazing so must fancy his chances against the baldy twat.