Green accuses King of breathtaking arrogance!

Charlie Green has accused Dave King of breathtaking arrogance after the Ibrox director urged creditors to reject Green’s CVA proposal.

Long standing director King invested £20m into Rangers a decade ago but will see that investment wiped out if the CVA is approved.

With HMRC likely to reject the CVA at a vote on June 14 King’s plea is mainly academic but that hasn’t stopped Green- and Duff & Phelps- from using the club website to attack an existing director.

“Mr King’s statement is breathtaking in its arrogance and is destructive to the interests of the club,” Green claimed.

“My consortium tabled an offer, which was accepted by the administrators as the best offer for the club and its creditors and substantial sums of money have already been paid to the administrators.

“Provision has been made for working capital that does not rely on season ticket sales any more than would be part of normal operations at the club. To suggest otherwise is scurrilous and scaremongering.

“I would question Mr King’s motives in urging the rejection of the CVA proposal which is the best offer available to creditors, particularly since he made no mention of this or any other issue when I spoke to him on the phone in South Africa last Friday.

“If the CVA is rejected then the club will be acquired on a newco basis which will not benefit creditors, nor will it benefit the club in terms of participation in Europe.

“In one week’s time, we hope the CVA proposal will be approved by creditors and that will be an important milestone for the rebuilding of the club.

Paul Clark of Duff and Phelps added: “I find Mr King’s remarks disappointing and misleading.

“As he should know more than most, all shareholders, as well as creditors, have received access to the CVA proposals and all relevant information has been made public on the Rangers website.

“Mr King should also know, that immediately after the conclusion of next week’s creditors meeting, a shareholders meeting will be convened.

“Mr Green, as the new legal owner of Mr Whyte’s shares, will vote in favour of the approval of the CVA should that be the outcome of the creditors meeting.

“Mr King refers to a claim against the club. We have received a letter of claim from Mr King’s solicitors which contains a number of broad and unsupported allegations concerning matters which took place some 10 years ago.

“The claims raised are neither accepted by the club nor have they been adjudicated by a court. We have written to his solicitors to ask them to provide evidence to support the claim, as all creditors are required to do.”

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