Disgraced former Rangers owner Craig Whyte has lost his High Court appeal against Ticketus.
The Motherwell-born businessman had appealed an order for him to pay more than £17 million to Ticketus earlier in the year.
Whyte purchased Rangers from Sir David Murray in May 2011 for a £1, although he funded the bank debt pay off with money from a deal he struck with Ticketus.
Ticketus claimed that Whyte had ‘fraudulently or negligently made representations which induced the company to enter into agreements related to the sale or purchase of Rangers season tickets’.
In April, despite Whyte disputing Ticketus’ claim, the High Court ruled against him prior to a court case starting after it was ruled that he had no real prospect of mounting a successful defence ordering him to pay £17.6 million back to Ticketus.
Despite Whyte’s lawyers claiming that the summary judgement had been unfair and that Whyte did indeed have a realistic defence, but after Judge Halpern heard evidence and legal arguments at the High Court in London in November he ruled that he would have reached the same conclusion.
Whyte has been ordered to pay the £17.6 million back to Ticketus plus all the legal costs of the appeal.
The former Rangers owner led the Ibrox club into administration in February 2012, before a CVA was rejected in the summer and the club entered liquidation proceedings.