Desperate Dave King has failed in another attempt to get his Contempt of Court charge dropped.
Four years ago the South African based criminal was putting the finishing touches on his takeover plan through share purchases with the three bears.
Despite warnings King took their combined shareholding over the 30% mark which then requires an offer to be made to the remaining shareholders.
Dave King, Rangers chairman, has asked again for a Takeover Panel review of its requirement that he offer to buy out other shareholders. Again, it says no. That should have happened 18 months ago. Having lost in court -+ played for time, King today faces contempt of court hearing
— Douglas Fraser (@BBCDouglasF) November 29, 2018
That would have cost King around £3.5m to a few groups mainly associated with the ousted regime including the Easdale brothers.
King has come up with a range of excuses to explain why he hasn’t put his money in an escrow account and prepared a prospectus.
It seems certain that the Ibrox supremo will be hot with a large fine and suspended jail sentence, if he refuses to pay the fine he will have to remain in South Africa fighting extradition.
Since the summer King has also lost two legal battles with Sports Direct with costs and damages still to be agreed.
