Singapore-based firm Orlit Enterprises raised an action in 2013 at Glasgow Sheriff Court, claiming they were owed payments totalling £400,000.
Rangers brushed off the matter at the time, and are said to have felt it was ‘insignificant’.
However, the firm - which was hired to find Far East investors to help fund Charles Green’s buyout of Rangers in 2012 - drew up a new writ in August, resulting in a preliminary hearing in Glasgow earlier this week.
In a 2013 statement, Rangers did concede that they owed Orlit money, but claimed the requested amount was incorrect.
The statement read: “Rangers have agreed a figure to settle this issue and it is a figure which is significantly less than the initial demand.”
Orlit Enterprises is run by Chan Fook Meng, a one-time business associate of former Rangers chief executive Green.
Green was non-executive chairman at another of Chan’s companies, Nova Enterprises, which also had ties to ex-Rangers finance chief Brian Stockbridge, who formerly worked as an advisor to the firm.