Former Rangers owner Craig Whyte has agreed to sell the book and film rights to his story of his takeover and the financial collapse of the club. In an announcement to the stock exchange on Wednesday, Worthington Group plc announced that it had acquired a 26% stake in Law Financial Limited, one of Mr Whyteâs companies. The group said the assets of the firm include the legal action Mr Whyte launched against current Rangers chief executive Charles Green, who he has accused of acting as a "front" for him last summer. In the stock exchange announcement, Worthington Group said: "It has also been agreed that, pursuant to the agreement certain other related rights, assets and causes of action will be transferred to the Law Financial Group or directly to Worthington. "Those assets include the book, film and television rights to the two takeovers of The Rangers Football Club in 2011 and 2012 as it relates to Craig Whyte. It is intended that these rights will be commercialised in due course." Mr Whyte purchased an 85% stake in Rangers from Sir David Murray for £1 in May 2011. The club was placed into administration last February with debts of up to £124m, including £18m of unpaid tax following Mr Whyteâs takeover. Mr Greenâs consortium purchased the assets of the club through the newco Sevco Scotland Limited in a £5.5m deal last June. Mr Whyte is contesting this, claiming the deal was struck by administrators Duff and Phelps with another firm, Sevco 5088, which he claims to be behind. Rangers have announced they are preparing a file to submit to Police Scotland on Mr Whyte and his associate Aidan Earley's conduct. Worthington, which purchased the stake in Law Financial Ltd for £250,000 in convertible loan notes, said the company "has a number of subsidiaries, namely Sevco 5088 Ltd, Law Capital Ltd, Litigation Capital Ltd and Media Litigation Ltd." It has the option of buying out Mr Whyteâs stake in the firm until October 31 this year. Douglas Ware, chief executive officer of the Worthington Group, added: "We believe that the transaction contemplated by this announcement gives the company a major opportunity to increase shareholder value and thus to strengthen the company's balance sheet, enabling the company to look at additional opportunities as they arise." ------------------------------- So who's gonna play Whytey? I think Shooter McGavin could be a contender. please log in to view this image
The assets of Sevco 5088 Ltd include a claim, which has been independently reviewed by Leading Counsel who is also a Deputy High Court Judge, to all of the business and assets of RFC 2012 Plc which were purchased by Sevco 5088 Limited or Sevco Scotland Ltd from the administrators of RFC 2012 plc in June of 2012. Sevco Scotland Ltd was subsequently renamed The Rangers Football Club Limited and its share capital was acquired by Rangers International Football Club Plc, the shares of which are now traded on AIM. It is the position of Sevco 5088 Ltd that it is the rightful owner of the business and those assets. After examination of the evidence, Leading Counsel's advice is that there is a prima facie case to answer.
Hi mate. I remember HMRC and the spl "claimed" certain things about rangers in the past, the later also spoke about prima facie. I'm a little confused because I thought you guys were telling us all about how he was a liar and not to be trusted and now people of a certain persuasion are taking his words as gospel?... Ps. Hi jiffy, hope you're having an absolutely awesome day mate!
Got 7s later at Goals Clydebank, and it's pishing down. If it stops, then my day will be awesome! Until then, it is best described as average
Indeed, the SPL did have a Prima facie case against Rangers and they were 100% correct were they not? Unless Rangers were exonerated and I missed something? Besides, i'm not claiming Green has a case to answer, i'm merely highlighting the fact that Medro left this part out of his OP.
Well Chapper unless I miss my guess you are stating that the SPL were wrong (in the LNS investigation) about them having a Prima facae case against Rangers? Apologies if that's not what you meant.
