A company used by former Scottish Premiership side Rangers Owner Craig Whyte to buy the club "has been stopped from making a bid to have its people in control of the in-liquidation Ibrox oldco," according to Martin Williams of the HERALD SCOTLAND. The move by Rangers FC Group -- the company formerly known as Wavetower that was founded by Whyte -- is reportedly part of a new £18M ($24M) "legal claim on the creditors payout pot." Representatives of the firm, now controlled by directors of in-liquidation investment company Worthington Group, "have initially failed in what is a rare attempt to appoint administrative receivers over an in-liquidation firm." The move is reportedly the result of Rangers FC Group "believing it holds a security" over the liquidated assets of the oldco RFC 2012. It is claimed the security was reassigned to the company from Lloyds Banking Group after an £18M bank debt was paid off as a condition of Whyte's £1 purchase of Rangers from David Murray. But BDO, the joint liquidator of the oldco, said that it "obtained an interim interdict which stopped the receivership appointment" (HERALD SCOTLAND, 6/12).
