Former Rangers owner Craig Whyte has been banned from being a company director for 15 years, after a judge labelled his dealing with Rangers as ‘shocking and reprehensible’.
The second ban was imposed after Rangers’ liquidation in 2012 and the liquidation of Whyte’s own firm, Tixway. Whyte had previously been banned from being a director for seven years.
Judge Lord Tyre imposing the 15 years disqualification said: “He deliberately placed his own interests before those of the company.”
Whyte did not appear at court to defend himself and lawyers previously acting for Whyte withdrew from the case.
Meanwhile the fourth highest shareholder in Rangers International Football Club plc (RIFC), Hargreave Hale, has sold 4.26 million of their 4.6 million stake in the company.
The buyer of the shares has not been disclosed to the London Stock Exchange, but Laxey Partners, Dave King and Sandy Easdale has confirmed they did not purchase the shares.
In related news, Rangers’ nominated advisor Daniel Stewart Securities, has had its shares suspended from trading on the London Stock Exchange. The company said the suspension was a ‘temporary measure pending the publication of its annual accounts’.