BusinessBusiness RecoveryRangers’ administrators try to claw back funding

Rangers’ administrators try to claw back funding

Duff & Phelps administrators hope to retrieve £3.6m from club's former purchaser's lawyers

RANGERS’ administrators are a step closer to securing £3.6m in funding following a High Court case.

Paul Clark and David Whitehouse, partners at Duff & Phelps, were appointed joint-administrators to the Scottish club on 14 February.

As part of the financial recovery process, the administrators made a High Court application to obtain £3.6m from law firm Collyer Bristow who acted on behalf of the purchaser.

Following the Court hearing Collyer Bristow transferred the funds to the administrators’ lawyers Taylor Wessing to be held until the High Court decides whether or not it belongs to the club.

“If we are successful in retrieving these funds that will help the recovery process of the Club and will be an important step towards the Club emerging from administration,” said Whitehouse.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

2d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

2d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
Kingston Smith liquidators to distribute millions to Bond International Software PLC members

Accounting Firms Kingston Smith liquidators to distribute millions to Bond International Software PLC members

1y Stephanie Wix, Writer
SFP sells off Pixel Projects and saves all staff

Business Recovery SFP sells off Pixel Projects and saves all staff

1y Stephanie Wix, Writer
Administrators from KPMG appointed to City Motor Holdings

Business Recovery Administrators from KPMG appointed to City Motor Holdings

1y Richard Crump, Writer
Johnston Carmichael appointed as joint administrators for Axon Well

Accounting Firms Johnston Carmichael appointed as joint administrators for Axon Well

1y Stephanie Wix, Writer