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Former Rangers owner Craig Whyte declared bankrupt

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Former Rangers owner Craig Whyte has been declared bankrupt at the High Court in London.

The 44-year-old was made bankrupt after a High Court battle with Ticketus, who accused the Motherwell-born businessman of luring them into a deal under false pretences.

The ruling went against Whyte and a petition for bankruptcy was filed after he failed to pay a judgement debt worth around £21 million – which includes interest and Ticketus’ legal costs.

Just over four years ago Whyte walked down Edmiston Drive heralded by the Rangers supporters as their new messiah after he bought the club off Sir David Murray for £1.

A year later, the Ibrox side lurched into administration and subsequently liquidation after Whyte failed to pay PAYE and National Insurance to HMRC; with creditors rejecting a CVA.

But now, the man described at the time as having wealth ‘aff the radar’ by one prominent Scottish daily newspaper is now bankrupt.

Earlier this month, Whyte appeared at Edinburgh High Court alongwith former chief executive Charles Green, David Whitehouse and Paul Clark [former Rangers joint administrators], Gary Withey and David Grier charged over the ‘alleged fraudulent acquisition of Rangers’.

They are accused of conspiracy, fraud and involvement in serious organised crime.

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About Author

scotzine

Andy Muirhead is the Editor of Scotzine and the Scottish Football fanzine FITBA. He is the Scottish Football columnist for The Morning Star and has written for a number of other publications including ESPN, Huffington Post UK, BT Life's a Pitch and has had his work featured in the Daily Record, The Scotsman and the Daily Mail.

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