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RFC Conclusion of Independent Review


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On behalf of Rangers International Football Club plc, the non-executive directors of the Company (the "Investigation Committee") engaged the law firm Pinsent Masons LLP to investigate the connections between Craig Whyte and former and current personnel of the Company and its subsidiaries (the "Investigation").

 

The Investigation was overseen by Roy Martin QC.

 

The Investigation concluded on 17 May 2013 and Pinsent Masons and Roy Martin QC have reported to the Investigation Committee. The Investigation Committee is satisfied that a thorough investigation was conducted despite the inherent limitations of a private inquiry.

 

Based on the assessment of the available evidence, the Company considers that the Investigation found no evidence that Craig Whyte had any involvement with Sevco Scotland Limited (now called The Rangers Football Club Limited), the company which ultimately acquired the business and assets of The Rangers Football Club P.L.C. from its administrators; nor which would suggest that Craig Whyte invested in The Rangers Football Club Limited or Rangers International Football Club plc, either directly or indirectly through any third party companies or vehicles.

 

On 28 May 2013, a letter before claim was sent to (inter alia) The Rangers Football Club Limited and Rangers International Football Club plcon behalf of Craig Whyte, Aidan Earley and (purportedly) Sevco 5088 Limited. The Rangers Football Club Limited and Rangers International Football Club plc will be preparing a robust response to the letter before claim. However, given that legal proceedings are threatened in the letter before claim, it would not be appropriate to make public any further content from the report or to comment further about the contents. Pinsent Masons' and Roy Martin's reports to the Company are confidential and legally privileged. This announcement is not intended to and does not serve to waive privilege in the contents of the reports which remain confidential and legally privileged.

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From STV news:

 

The statement on the report fails to mention whether it has been proven Green and Whyte had any involvement or agreement to purchase the assets of the club prior to Sevco Scotland Limited completing the deal.

As part of a deal struck between Green and the Scottish FA in the summer, it was stated the newco could only play football as Rangers if it was proven there were no links with their former owner.

 

The governing body have previously stated they would await the outcome of the Pinsent Masons report before deciding whether to open their own investigation into whether those terms were breached.

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I'm sure Regan has the fat guy from HM on the case, just to 'review' the work of a top QC.

 

Underestimated these paper gatherers by the way ..................

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Tom English ‏@TomEnglishSport 14m

 

Ridiculous that the Pinsent Masons report on Craig Whyte is to remain private. Too much secrecy in this saga so far. Transparency required

 

Ridiculous that a confidental in-house investigation is not made public, so the reporters have to do all the work on their own ...

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my take on the statement is that due to the on-going Whyte/Earley situation, it's not in the best interest of the club to make the report public - at the moment.

 

Once Whyte/Earley have been legally told to pi55 off, then I'm sure the full report will be published.

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