Former Rangers administrators David Whitehouse and Paul Clark have reached a settlement agreement with Police Scotland over their wrongful arrests.
The pair were appointed when the Ibrox club were plunged into administration back in 2012, and were later arrested as part of a fraud probe into the club.
As result, both launched a compensation claim worth £20.8million as a result of the “unlawful” criminal investigation.
However, lawyers representing Mr Whitehouse and Mr Clark informed Lord Tyre that they are no longer suing the chief constable of Police Scotland, but are still suing the Crown Office.
Lawyers acting for the Crown had previously admitted the two men were subject to a “malicious” prosecution.
However, a virtual hearing was held at the Court of Session in Edinburgh, Alistair Duncan QC, representing Police Scotland confirmed that the force had come to a “mutually beneficial” agreement.
Now Mr Whitehouse and Mr Clark will enter a mediation process and the amount agreed upon was disclosed in open court.
Rangers’ financial troubles resulted in the company being liquidated and demoted to the bottom tier of Scottish football, returning to the Scottish Premiership four years later.
