A Horse With No Name 0 Posted April 17, 2012 Share Posted April 17, 2012 This gets more and more complicated in terms of the ramifications! I recall reading in one of the broadsheets about a week back Withey saying he left that company and was ashamed of the part he (without knowing it) played... that would seem to suggest they'd win a court case? Will it act as a spur for the two bidders (maybe the intention?) Will HMRC want more or want to defer their decision? Can someone delete my related thread please. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted April 18, 2012 Author Share Posted April 18, 2012 Rangers administrators sue Craig Whyte’s company in £25m legal action Duff and Phelps confirmed the legal action was against both Rangers FC Group and Collyer Bristow. .By Mike Farrell Rangers administrators are suing Craig Whyte’s company and his lawyers for more than £25m in damages in relation to his takeover of the club. Duff and Phelps have launched the legal action on behalf of Rangers and confirmed it is against Rangers FC Group Ltd, the club’s parent company owned by Mr Whyte. Rangers FC Group, formerly Wavetower, bought Sir David Murray’s 85.3% stake in Rangers for a nominal £1 last May. It was widely publicised on Tuesday that Collyer Bristow faced the £25m claim from the administrators, but on Wednesday Duff and Phelps confirmed the action also extended to Rangers FC Group. A Duff and Phelps spokesman said: "I can confirm that the action for damages raised in the High Court in London is against both Collyer Bristow and Rangers FC Group." Collyer Bristow has already described the "consequential loss" claim for in excess of £25m as "highly speculative" and confirmed it will be contesting the action "in the strongest possible terms". Mr Whyte’s British Virgin Islands registered company, Liberty Capital Limited, wholly owns Rangers FC Group. When it was established, the only other directors of Group were Phillip Betts – who has since resigned form his position – and Andrew Ellis, who claimed Mr Whyte had “duped” him during the takeover. This court action launched by administrators acting on behalf of the club came after they had entered into a five-way legal battle last month over £3.6m that had been seized from a Collyer Bristow account. HM Revenue and Customs, London ticketing agency Ticketus and two businesses connected to Mr Whyte had all laid claim to part of the cash in proceedings at the High Court in London. This is being dealt with separately from the £25m damages action. During court proceedings last month, counsel for Duff and Phelps said they had expected to find closer to £9.5m in the legal firm’s seized account. Former partner at Collyer Bristow Gary Withey, who helped to broker Mr Whyte’s takeover of Rangers, left the company in early March citing "family and personal reasons". http://news.stv.tv/scotland/west-central/303967-rangers-administrators-sue-craig-whytes-company-in-25m-legal-action/ 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,290 Posted April 18, 2012 Share Posted April 18, 2012 So essentially D&P sue Whyte and his lawyers for 25m. Does that make sense to those people claiming that D&P are Whyte's puppets here? Just asking while wondering ... 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted April 18, 2012 Share Posted April 18, 2012 So essentially D&P sue Whyte and his lawyers for 25m. Does that make sense to those people claiming that D&P are Whyte's puppets here? Just asking while wondering ... Agree , but it certainly puts a great deal more pressure on CW 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,060 Posted April 18, 2012 Share Posted April 18, 2012 So essentially D&P sue Whyte and his lawyers for 25m. Does that make sense to those people claiming that D&P are Whyte's puppets here? Just asking while wondering ... Will they have the balls to sue themselves ? I'd hazard a guess Collyer Bristows' defence may include the argument that they were just following their clients instructions to follow the very expensive business plan created by one David Greir for Craig Whyte but paid for by who I wonder. 0 Quote Link to post Share on other sites More sharing options...
Ergatrude 0 Posted April 18, 2012 Share Posted April 18, 2012 So essentially D&P sue Whyte and his lawyers for 25m. Does that make sense to those people claiming that D&P are Whyte's puppets here? Just asking while wondering ... Didn't the guy quit collyer Bristow? So then, in my mind, he jumped ship before the shit hit the fan. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted April 19, 2012 Share Posted April 19, 2012 Just a thought but if the club is sold in the next month say, is it up to Rangers new owner to chase this lawsuit in the courts and if so do D&P know this. 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted April 19, 2012 Author Share Posted April 19, 2012 Sold in the next month? It would be up to any new owner to decide on what course of action to take. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted April 19, 2012 Share Posted April 19, 2012 Could this be a way of getting Craig Whytes shares of him???? Since RFC Group are included in the lawsuit, and their only asset is the shares in Rangers, could it be a case of "give us the shares & we'll call it quits!!!" 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted April 19, 2012 Share Posted April 19, 2012 Sold in the next month? It would be up to any new owner to decide on what course of action to take. Was being optimistic CJ. 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.