Lawyers of ex-Rangers owner Craig Whyte withdraw bid to bankrupt him

Craig Whyte: The businessman bought an 85% stake in Rangers for £1.© SNS Group

The lawyers of former Rangers owner Craig Whyte have withdrawn an attempt to bankrupt him.

Harper Macleod had raised the petition to sequestrate the 41-year-old at Inverness Sheriff Court on Wednesday.

However, when it called at the court, the firm informed Sheriff Ian Abercrombie that the petition should be dismissed and expenses of £613.13 awarded to Harper Macleod.

The motion by lawyer Jenna Sharp was granted by the sheriff, while Harper Macleod declined to comment on the case afterwards.

Mr Whyte had previously instructed Harper Macleod in his separation proceedings from estranged wife Kim and in business affairs for one of his company’s Tixway UK, which was liquidated earlier this year.

Mr Whyte purchased an 85% stake in Rangers from Sir David Murray last May for £1 before using a £26.7m Ibrox season ticket deal with Ticketus to effectively fund his takeover.

The club was plunged into administration in February with debts of up to £134m, including £18m in unpaid PAYE and national insurance after his takeover of Rangers. Mr Whyte’s takeover of Rangers is being investigated by Strathclyde Police after they were instructed by the Crown to do so, although he has previously insisted he had nothing to hide over his role and there was "no criminality" in the move.

London firm Ticketus is also launching legal action against Mr Whyte after he gave the company personal guarantees over the deal he struck with them.

His UK-based assets include his Grantown-on-Spey home Castle Grant and his Bentley car, which he successfully prevented from being sold at auction to pay his estranged wife under their separation proceedings.

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