Rangers heading for courtroom showdown

Murray and McColl ready to move.

Rangers could end up back in the Court of Session. That will be the beleaguered club’s fate if they refuse to reveal the mystery men behind two companies that own over 10% of the Light Blues’ shares.

The Ibrox plc Board have so far failed to confirm the identity of the people behind Blue Pitch Holdings and Margarita Funds Holdings Trust. Both investors could hold the key to the battle for control of the club.

However, continued attempts to unmask the men behind them have been stonewalled.

Former Rangers director Paul Murray and millionaire tycoon Jim McColl have been unsuccessful in their efforts to establish who is involved with both companies. And it’s also understood South African millionaire Dave King’s attempts to get to the bottom of the matter ended in defeat despite holding talks with James and Sandy Easdale.

They hold the voting proxies for Blue Pitch Holdings and Margarita Holdings, which affords them 25% of the voting rights as the battle to gain control of the club intensifies.

There are serious concerns over who is behind the two companies, and a refusal to finally come clean could lead to Rangers being taken to the Court of Session once again. Murray and McColl blocked the Ibrox club from holding an AGM last month in what was an embarrassing defeat for those running the crisis club.

Lord Tyre declared the Board’s bid to have an AGM, without Murray, former chairman Malcolm Murray and the names of two other requisitioners Scott Murdoch and Alex Wilson on the ballot papers for election to the board, to be illegal.

And it’s understood, as a last resort, the businessman will joined by others in taking the club back to the Court of Session to demand disclosure as to who is behind the mystery companies.

It would take at least 10% of the shareholders to take the matter to court, but reaching such a target wouldn’t be a problem with various fans’ groups fearing who is actually behind these two companies.

Under Section 793 of the Companies Act, Murray and McColl believe they can win the right to have the beneficial owners of more than 10% of the club named if they take Rangers to the Court of Session.

But it’s understood Murray and McColl are desperate to avoid this course of action as they want to avoid the club wasting more money on another court appearance.

However, if they feel they have no other course of action, then moves will be put in place to prepare to take the Ibrox club back to the Court of Session.

That would see the Rangers directors back in the dock, and they are then likely to be forced to reveal who owns the Blue Pitch Holdings and Margarita Funds Holding Trust stake in the crisis club.

Rangers must legally hold an AGM no later than December 31, but have claimed that the way home fixtures have panned out means they are unable to stage it at Ibrox this month.

This latest development could finally see the Rangers supporters establish exactly who is pulling the strings for companies who could hold the key to the club’s future.