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Daily Record
Daily Record
National
Craig Robertson

Liquidator of Rangers paid nearly £300k for seven months work

The liquidator of Rangers was paid nearly £300,000 for seven months work.

BDO, which is dealing with the remains of the club’s old company, earned the amount while creditors were paid pennies for every pound they are owed.

BDO was paid £279,000 for work between May 16 and December 11 last year.

It said the money was for 608 hours’ work over the period, which works out at about £459 an hour.

BDO was appointed liquidator of the football club’s old company in October 2012.

The firm told creditors – small contractors, fans and the taxman – they would receive about 3p for every pound owed.

About £30million was left in the coffers of the company but the liquidator is trying to secure more income through a £29million court case against former club administrator Duff & Phelps over its refusal to sell Ibrox stadium.

The case is to be heard at Scotland’s highest civil court in May next year and will relate to February 14, 2012, when Duff & Phelps was appointed administrator of the club after it fell into financial ruin during the ownership of Craig Whyte.

The club’s former joint administrators, Paul Clark and David Whitehouse of Duff & Phelps, vowed to defend the action.

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