Rangers administrators to sue former lawyers
Reuters - Tuesday 17 April 2012, 19:14
The administrators of troubled Scottish
side Rangers are to sue the club's former lawyers for
substantial damages, administrators Duff and Phelps said on
Tuesday.
"We have instigated legal proceedings against Collyer
Bristow, the former lawyers of the club, and The Rangers FC
Group Limited in the High Court in London for substantial
damages suffered by Rangers Football Club," joint administrator
Paul Clark said in a statement on the club's website.
The financial details of the damages claim were not
disclosed but the BBC reported Duff & Phelps were seeking 25
million pounds.
Rangers were forced into administration in February after
running up a debt of nine million pounds in unpaid
taxes since Scottish businessman Craig Whyte took an 85 percent
stake in the club last May.
Founded in 1872, they have been domestic champions 54 times,
a world record, including for the last three seasons and won the
old European Cup Winners' Cup in 1972.
Duff and Phelps said it remained their intention to announce
a preferred bidder for the club this week.
They are considering two bidders after The Blue Knights
consortium, led by former Rangers director Paul Murray, withdrew
its bid on Monday.