Sevco Scotland (The Rangers Football Club) face a fresh claim on their assets after it was confirmed that Craig Whyte’s 2012 takeover of Rangers Football Club wasn’t achieved through fraud.
The complex claim for the assets, mainly Ibrox Stadium and Murray Park, has been under dispute for some time since Charles Green claimed that they had been bought for £5.5m.
That cut price deal caused alarm in a number of quarters with Green quickly claiming that the company had assets of £80m when he raised £21m from a share issue in December 2012.
Whyte appeared to have safeguarded the assets when Duff and Phelps sold to Sevco 5088 but with Green calling the shots the assets moved quickly into the name of Sevco Scotland who obtained SFA membership in the summer of 2012.
The notion that Whyte would walk away empty handed always seemed wishful thinking with documents published by Companies House revealing that Henderson & Jones have taken on the claim for Sevco 5088.
According to their website Henderson & Jones claim: “We will buy claims for immediate money and/or a share of the proceeds. We will then litigate the claim ourselves, taking the expense and risk, and leaving the insolvency practitioner free to close the insolvency.
“We work with a range of insolvency practitioners and creditors to maximise recoveries from legal claims without them incurring the risk and cost involved in litigation.
“Litigation may not always be an attractive or viable option for many reasons, but that shouldn’t mean the claim has no value. And even when litigating the claim is feasible, selling it may be an attractive alternative.”
Any claim from Henderson & Jones will put further scrutiny on the licence given to the club from Ibrox through the Five Way agreement hatched by the SFA and SPL in 2012.