5 Sep 2014 18:05
5 September 2014
Rangers International Football Club plc
("Rangers" the "Club" or the "Company")
Statement re. Court Order
The Company confirms that the Court of Session in Edinburgh has granted a request by Mr Ahmad for an order allowing him to arrest £620,000 in a Rangers bank account or the accounts of others who may be due to pay sums to Rangers. He sought this order in connection with a claim against the Rangers Football Club Limited for alleged unpaid bonuses in the amount of £500,000. The court granted permission to arrest £620,000 to take account of the sum sued for and Mr Ahmad's legal expenses in connection with his claim.
Leave to appeal this decision has been sought by Rangers and the court will deal with that request on Tuesday.
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. The court has not yet considered the merits of Mr Ahmad's claim. Mr Ahmad's claim is being robustly defended. The case proceeds to a full hearing on its merits commencing 11 November 2014. If the defence of this claim is successful the funds arrested will be released.
Further announcements will be made on this matter in due course.
For further information please contact:
Rangers International Football Club plc
Graham Wallace Tel: 0141 580 8647
Daniel Stewart & Company plc Tel: 020 7776 6550
Paul Shackleton / David Coffman
Newgate Threadneedle Tel: 020 7148 6143
Roddy Watt / John Coles