Lawyers look into Rangers takeover

 

Lawyers from leading London-based firm Pinsent Masons will spearhead a club-commissioned investigation into the extent of Charles Green's links with former Rangers owner Craig Whyte.

The international law firm will work alongside forensic investigators from Deloitte to probe the connections between Whyte and what a club statement described as "former and current personnel of Rangers and its subsidiaries".

Green resigned as chief executive on Friday over allegations surrounding his dealings with Whyte, although he continued to deny any wrongdoing.

Finance director Brian Stockbridge and commercial director Imran Ahmad are also expected to come under scrutiny from investigators. Both were working for Zeus Capital, the investment firm which was central to the assets purchase fronted by Green in June last year, and both were involved in discussions with Whyte.

Green has claimed that they only made promises to Whyte to keep him onside as they might have needed to acquire his shares had creditors accepted their offer to take the club out of administration. Instead the shares became irrelevant after the company was consigned to liquidation.

Rangers earlier issued a separate statement to the London Stock Exchange announcing that Sevco 5088 - the company at the centre of a dispute between Green and Whyte - was a subsidiary of the club at the time of their flotation on the stock exchange in December.

The statement added that Green was a director of Sevco 5088, which was used to buy the assets and business of the liquidation-bound club.

Whyte claims he was behind the firm and has threatened legal action arguing he is the rightful owner of Ibrox and other club assets.

The assets were transferred to another new company, Sevco Scotland, days after the £5.5million purchase in June last year, when the club was consigned to liquidation over tax debts accrued during Whyte's tenure.

An announcement is also expected this week over an interim replacement for Green with manager Ally McCoist looking for stability as he plans for their Irn-Bru Second Division campaign.

Reports have claimed that Craig Mather, a major investor who was brought on board in the early stages of the new company, is favoured by some directors to take over on an interim basis but others are reluctant given his links to Green.

Another director, Phil Cartmell, who is chairman of Slough-based engineering firm Corac, is said to be close to leaving the board.

PA

Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Career Services

Day In a Page

Mullah Omar, creator of the Taliban, is dead... for the fourth time

Mullah Omar, creator of the Taliban, is dead... again

I was once told that intelligence services declare their enemies dead to provoke them into popping up their heads and revealing their location, says Robert Fisk
Margaret Attwood on climate change: 'Time is running out for our fragile, Goldilocks planet'

Margaret Attwood on climate change

The author looks back on what she wrote about oil in 2009, and reflects on how the conversation has changed in a mere six years
New Dr Seuss manuscript discovered: What Pet Should I Get? goes on sale this week

New Dr Seuss manuscript discovered

What Pet Should I Get? goes on sale this week
Oculus Rift and the lonely cartoon hedgehog who could become the first ever virtual reality movie star

The cartoon hedgehog leading the way into a whole new reality

Virtual reality is the 'next chapter' of entertainment. Tim Walker gives it a try
Ants have unique ability to switch between individual and collective action, says study

Secrets of ants' teamwork revealed

The insects have an almost unique ability to switch between individual and collective action
Donovan interview: The singer is releasing a greatest hits album to mark his 50th year in folk

Donovan marks his 50th year in folk

The singer tells Nick Duerden about receiving death threats, why the world is 'mentally ill', and how he can write a song about anything, from ecology to crumpets
Let's Race simulator: Ultra-realistic technology recreates thrill of the Formula One circuit

Simulator recreates thrill of F1 circuit

Rory Buckeridge gets behind the wheel and explains how it works
Twitter accused of 'Facebookisation' over plans to overhaul reverse-chronological timeline

Twitter accused of 'Facebookisation'

Facebook exasperates its users by deciding which posts they can and can’t see. So why has Twitter announced plans to do the same?
Jane Birkin asks Hermès to rename bag - but what else could the fashion house call it?

Jane Birkin asks Hermès to rename bag

The star was shocked by a Peta investigation into the exotic skins trade
10 best waterproof mascaras

Whatever the weather: 10 best waterproof mascaras

We found lash-enhancing beauties that won’t budge no matter what you throw at them
Diego Costa biography: Chelsea striker's route to the top - from those who shared his journey

Diego Costa: I go to war. You come with me...

Chelsea's rampaging striker had to fight his way from a poor city in Brazil to life at the top of the Premier League. A new book speaks to those who shared his journey
Ashes 2015: England show the mettle to strike back hard in third Test

England show the mettle to strike back hard in third Test

The biggest problem facing them in Birmingham was the recovery of the zeitgeist that drained so quickly under the weight of Australian runs at Lord's, says Kevin Garside
Women's Open 2015: Charley Hull - 'I know I'm a good golfer but I'm also just a person'

Charley Hull: 'I know I'm a good golfer but I'm also just a person'

British teen keeps her feet on ground ahead of Women's Open
Turkey's conflict with Kurdish guerrillas in Iraq can benefit Isis in Syria

Turkey's conflict with Kurdish guerrillas in Iraq can benefit Isis in Syria

Turkish President Erdogan could benefit politically from the targeting of the PKK, says Patrick Cockburn
Yvette Cooper: Our choice is years of Tory rule under Jeremy Corbyn or a return to a Labour government

Our choice is years of Tory rule under Corbyn or a return to a Labour government

Yvette Cooper urged Labour members to 'get serious' about the next general election rather than become 'a protest movement'