Rangers FC – Yet Another Court Case. This Time As Pursuers, But Still Not Good News

 

 

As I have often said, the Scottish Court Service court lists are a mine of information.

Today’s list shows an interesting case listed under the “Sist Warning List”.

 

SIST WARNING LIST

The sist in the undernoted case has expired.  Accordingly the case will be put out By Order in the near future.  Intimation should be given to the Keeper of the Rolls of any cause on the list which has settled:-

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A32/11 The Rangers Football Club plc v CRE8 (Publishing) Ltd

Dundas & Wilson CS

McClure Naismith

 

To explain quickly a “sist” is a suspension of a case. This can come about because both parties agree to it; because one party persuades the court that it is necessary; or at the instance of the Judge. A sist can be ordered because there needs to be time for further investigation, for negotiation or because there are other proceedings which might affect the outcome of the present case.

To avoid cases being sisted and going into what one Sheriff referred to as “outer darkness” cases which are sisted at the Court of Session are brought back to court after the sist has been in place for a period so that the court can check if the sist needs still to be in place, or if progress needs to be made with the case.

This action was raised early this year and first called in court in February.

The Rangers Football Club plc, incorporated under the Companies Acts (Co No.SC004276) and having its registered office at Ibrox Stadium, Glasgow AG CRE8 (Publishing) Ltd, incorporated under the Companies Acts (Co No. 06676057) and having its registered office at Fraser House, Wadham Close, Southrop, Lechlade

Dundas & Wilson were listed as solicitors for Rangers. As this was a pre takeover case, and as Mr Whyte seems to have dispensed with most, if not all, of those connected to the Murray Holdings era, one wonders if Rangers are still instructing D&W.

Unfortunately for Rangers, there seems to be little or no point in them pursuing the case.

As the Drum Magazine reported in May 2011 CRE8 (Publishing) Ltd had gone into liquidation. This company was printer of many football clubs’ programmes.

As the Drum reported, “Liquidation documents show Rangers owed almost £500,000, Celtic £400,000, Arsenal £270,000, West Ham £103,000 and Spurs £42,000.

“Celtic fans were urged in November last year to apply to Cre8 for subscription refunds when the club cancelled its contract with the publisher due to allegedly unpaid royalties. Rangers likewise cancelled its contract telling fans to “cancel any direct debit payment with immediate effect”.

“The collapse comes just three years after the group’s predecessor company Cre8 UK collapsed owing creditors including Birmingham City and Watford more than £2.1m.”

As the company is in liquidation, it looks as if there will be no point in Rangers continuing to pursue the action. Accordingly, the sum of £500,000 in their accounts as a debtor will need to be written off – thus denting the profit and loss account and balance sheet further.

As the case would seem to have little value to pursue, one wonders if Dundas and Wilson have any money due to be paid to them, or if they will have to join Levy & McRae and Fyfe Ireland in taking Rangers to court. Surely not!

It is interesting that, in November, Rangers prudently told fans to cancel Direct Debits to a company whose financial existence was in great peril. I am sure that no one would consider giving the same advice to Rangers fans as regards their own team.