Former Rangers owner Craig White declared bankrupt

Date published: Thursday 29th October 2015 3:26

Craig Whyte: Former Rangers owner declared bankrupt

Craig Whyte: Former Rangers owner declared bankrupt

Controversial former Rangers owner Craig Whyte has been declared bankrupt.

The 44-year-old was confirmed as insolvent in the wake of a High Court battle with Ticketus, which accused him of luring it into a deal on false pretences.

The ticketing firm obtained a judgment in its favour relating to allegations of a misrepresentation by Whyte during a ticket purchase agreement involving Rangers Football Club.

The bankruptcy petition was filed after Whyte failed to pay a judgment debt currently worth some £20.8million, including interest and legal costs.

It was alleged that Whyte had agreed to sell three years’ worth of season ticket sales to the company for £25million, some of which, it is also alleged, he used to fund his takeover of the Ibrox club in May 2011.

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