LONDON (Alliance News) - Rangers International Football Club PLC Friday said former Commercial Director Imran Ahmad has succeeded in his bid to have GBP620,000 of club assets frozen.
Lawyers acting for Ahmad claim he was owed a GBP500,000 bonus for the time he spent working at the Ibrox club. At the Court of Session in Edinburgh, the judge found in favour of Ahmad that some assets should be ring-fenced until the case completed.
Leave to appeal was opposed by Ahmad's lawyer and a decision on whether it will be allowed will be made on Tuesday.
Ahmad, who has twice lost court bids to have Rangers' assets ring-fenced, claims he is owed GBP500,000 for negotiating deals and wants another GBP120,000 to cover legal expenses.
"This is a provisional procedural measure and the fact that this procedural ruling is in Mr Ahmad's favour it is in not an indication that the court accepts there is any merit in his claim," Rangers said.
Rangers said the court has not yet considered the merits of Ahmad's claim.
The case proceeds to a full hearing on its merits commencing November 11. If the defence of this claim is successful the funds arrested will be released.
The stock closed down 3.5% at 24.12 pence Friday.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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