Rangers

Rangers to undergo trial over £3.5m

By Danielle Joynson, Staff Reporter | 08 March 2012

Rangers are due to attend a court hearing on March 30th regarding a dispute between four other parties for the entitlement of £3.5m.

Rangers' administrators will face a trial hearing at the end of the month regarding a dispute over £3.5m.

Justice Warren, who presided over a hearing in the London High Court today, has ruled that the Scottish club's administrators will have to battle for the entitlement of the cash in question along with four other interested parties on March 30.

The administrators, from London firm Duff and Phelps, were last week awarded an emergency court order to seize the money, which was then transferred to the administrators' lawyers' account.

While the administrators have argued that the £3.5m belongs to the club, the HMRC, Ticketus, Jerome Pensions Group and financial group Merchant Turner are all trying to claim the money.

Despite Rangers owner Craig Whyte's solicitors potentially being entitled to the cash, the court heard that Whyte has no interest in claiming it.

While a decision was expected to be made today, the court has ruled that due to the amount of parties fighting for the sum, a four-day hearing should be carried out at the end of the month.