Ex-Rangers FC Chairman disqualified for 15 years

Ex-Rangers FC Chairman disqualified for 15 years

On 30 September 2014, the Court of Session in Scotland made an order disqualifying Craig Whyte, the ex-Chairman of Rangers Football Club (Rangers), to act as a director for 15 years without the permission of the Court, the maximum period permitted by the Company Directors Disqualification Act 1986.

The disqualification takes effect from 21 October 2014, and therefore expires on 20 October 2029.

Mr Whyte had purchased, through corporate vehicles, the controlling interest in Rangers in May 2011 for £1. On 14 February 2012, administrators were appointed in relation to Rangers. Rangers then went into liquidation on 31 October 2012. It was, unsurprisingly, a high profile insolvency which resulted in a great deal of media interest.

According to the Insolvency Service, the disqualification application alleged that Mr Whyte had failed to act in accordance with his duties as a director to promote the interests of Rangers and to avoid conflicts of interest, including causing Rangers to ente

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About the author:

Stephen qualified as a solicitor in 2005 and joined the Restructuring and Insolvency team at Lexis®PSL in September 2014 from Shoosmiths LLP, where he was a senior associate in the restructuring and insolvency team.

Primarily focused on contentious and advisory corporate and personal insolvency work, Stephen’s experience includes acting for office-holders on a wide range of issues, including appointments, investigations and the recovery and realisation of assets (including antecedent transaction claims), and for creditors in respect of the impact on them of the insolvency of debtors and counterparties.