A light has been shone into the Sevco mystery at the High Court in London.
While Dave King promises fans a team within tangible reach of dominating Scottish football the future of Ibrox and Murray Park could be put into doubt.
In June 2012 when a CVA from Charles Green was rejected by creditors the club assets, Murray Park and Ibrox Stadium, were sold to Sevco 5088 for a knock-down figure of £5.5m.
Within a week, without the permission of Sevco 5088, the assets were transferred to Sevco Scotland and packaged into a share issue that raised £22m in December 2012.
Sevco 5088 have waited patiently to make their claim with the Daily Record picking up on yesterday’s court hearing.
A company once owned by shamed former-Rangers boss Craig Whyte has been awarded legal costs by a High Court judge in London.
Sevco 5088 was set up by Whyte and other associates to purchase the business and assets of the indebted Glasgow club in 2012.
A firm called Wavetower had previously been used by Whyte to buy Rangers for £1 from Sir David Murray in 2011 before the club suffered financial meltdown in February the following year.
Sevco 5088 claims it was set to buy the business and assets of the distressed club from the administrators in 2012.
But Sevco 5088 – which is no longer linked to Whyte – claim the firm was “deprived of the opportunity” when one of its directors set up a new company called Sevco Scotland to purchase the club instead.
The firm claims that another former Rangers owner – Charles Green – diverted more than £5million from its coffers to Sevco Scotland to buy out the club without its agreement.
It won its claim to claw back legal costs from its former finance chief Imran Ahmad at the High Court in London on Monday.
Before being granted a licence to play in Scottish football in 2012 the SFA, SPL and SFL were given assurances about the finances, backers and assets of the new club.