Craig Whyte-linked firm told to hand over files in £2.8m BDO battle

A firm with ties to Craig Whyte has been told to hand over documents as part of a legal battle with Rangers liquidators BDO.

Craig Whyte's former firm Wavetower are chasing a portion of the money that Rangers liquidators BDO are thought to have recovered. Picture: SNS Group
Craig Whyte's former firm Wavetower are chasing a portion of the money that Rangers liquidators BDO are thought to have recovered. Picture: SNS Group

Lawyers for Whyte’s former company Wavetower are chasing a portion of the £30 million that BDO are understood to have recovered, according to the Daily Record.

But BDO have hit back at Wavetower, accusing the firm of keeping them in the dark over the basis for their claim.

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BDO representative Gavin MacColl QC, told a Court of Session hearing that the case was ‘at the higher end for complexity and... for volume of documentation’.

There are believed to be more than 40 boxes of documents linked to Rangers.

The court heard the company that currently owns Wavetower had not cited paperwork it would rely on in court, and had effectively invited BDO to ‘find the [documents] themselves’.

Judge Lord Doherty ordered Rangers FC Group Ltd. - formerly known as Wavetower - to produce the files that would form part of their court action.

Last July it emerged that Wavetower - the firm Whyte had used in his takeover of Rangers - had itself been taken over by London-headquartered company Henderson & Jones.

Henderson & Jones say they ‘buy legal claims from insolvent entities, taking the risk and cost of litigation, while returning money to the estate and creditors’.

BDO initially rejected Wavetower’s claim for money a full two years ago, when Whyte made the claim.

And now Henderson & Jones are looking to overturn BDO’s decision in court.

Wavetower insist that they should be first in line for assets from BDO because they wiped out the £18 million debt owned to Lloyds Bank when Whyte completed his takeover.

Mr MacColl added: “In reality, all [BDO] have to work with is a relatively recent draft report from the Rangers FC Group Ltd’s expert and the pleadings.”

He suggested that BDO ‘didn’t know what the basis of the case against them was’.