Mr Green said: “Mr King’s statement is breathtaking in its arrogance and is destructive to the interests of the club.
“My consortium tabled an offer, which was accepted by the administrators as the best offer for the club and its creditors and substantial sums of money have already been paid to the administrators.
“Provision has been made for working capital that does not rely on season ticket sales any more than would be part of normal operations at the club. To suggest otherwise is scurrilous and scaremongering.
“I would question Mr King’s motives in urging the rejection of the CVA proposal which is the best offer available to creditors, particularly since he made no mention of this or any other issue when I spoke to him on the phone in South Africa last Friday.
“If the CVA is rejected then the club will be acquired on a newco basis which will not benefit creditors, nor will it benefit the club in terms of participation in Europe.
“In one week’s time, we hope the CVA proposal will be approved by creditors and that will be an important milestone for the rebuilding of the club.
“It is also absurd to suggest I have not been communicating with fans. Only yesterday I had a constructive and progressive meeting with fans representatives which was one of many I have had over the last few weeks and there will be continuing dialogue with them. The fans will be kept informed at every stage of this process.
“People such as Mr King who, as I understand was not in a position to make a bid for the club, need to accept the realities of the situation and move on rather than continue to snipe from the sidelines.”
Paul Clark, Joint Administrator, added: “I find Mr King’s remarks disappointing and misleading.
“As he should know more than most, all shareholders, as well as creditors, have received access to the CVA proposals and all relevant information has been made public on the Rangers website.
“Mr King should also know, that immediately after the conclusion of next week’s creditors meeting, a shareholders meeting will be convened.
“Mr Green, as the new legal owner of Mr Whyte’s shares, will vote in favour of the approval of the CVA should that be the outcome of the creditors meeting.
“Mr King refers to a claim against the club. We have received a letter of claim from Mr King’s solicitors which contains a number of broad and unsupported allegations concerning matters which took place some 10 years ago.
“The claims raised are neither accepted by the club nor have they been adjudicated by a court. We have written to his solicitors to ask them to provide evidence to support the claim, as all creditors are required to do.
!As a result, Mr King’s suggestion that his representations have been ignored is entirely unfounded.
“If Mr King feels he has a claim against Mr Whyte or Mr Murray, then that is a matter for him and not a concern of the Administrators.
“The CVA proposal is completely transparent and gives detailed information as to different outcomes such as a newco or dissolution of the company.
“It is a comprehensive document and there have been no issues raised about its content by significant stakeholders and creditors.
“Mr King should also note that Duff and Phelps meet the Rangers Fans Fighting Fund on a weekly basis and will continue to do so.”