Conduct of Sir David Murray, Craig Whyte and Rangers directors examined

Published on 24/10/2012 09:58

THE conduct of Sir David Murray and the Rangers board in the three years before its administration is being examined by the Government’s insolvency investigators.

The Insolvency Service’s Investigations & Enforcement Directorate are also looking at the role played by Craig Whyte, who bought the club from Sir David for £1 in May 2011.

Other key figures under the microscope reportedly include Ibrox legend John Greig, a director from 2003, former chief executive Martin Bain and chairman Alistair Johnston.

An Insolvency Service spokeswoman said: “We can confirm that, since Rangers has entered a form of insolvency, an insolvency practitioner (IP) is required to report on the conduct of the directors. The IP has reported and so the Investigations & Enforcement Directorate are considering the matter.”

It is understood that administrators Duff & Phelps, who took control of the club on February 14, completed the report.

Shortly before Rangers went into administration Mr Johnston called on the Insolvency Service to investigate Mr Whyte’s takeover, but the Government agency could not confirm if it was acting upon this request.

The regulators can take action against company directors for a range of offences, including failure to keep proper accounting records or failure to pay tax. It has the power to disqualify directors for up to 15 years.

The report is likely to be confidential.