Craig Whyte has been disqualified for 15 years as a company director due to his ‘shocking and reprehensible’ behaviour when managing the Rangers football club.
The court found Whyte to have ‘deliberately placed his own interests before those of the company’. The football club entered administration in early 2012 and was wound up by the court a few months later in October.
Reasons for the ban included improper management and governance of the club by failing to involve other board directors. Whyte also failed to deal with tax and account issues, the same reason his other company Tixway went bust. Tixway Ltd was wound up in July 2012.
Business Minister, Jo Swinson, commented, “ The court has disqualified Craig Whyte for 15 years for the harm he caused to Rangers Football Club, and to the many football fans who believed in his promises”.
“Mr Whyte bought a much-loved club, and promised fans that he would provide further cash to bring success. However, he caused the club to use this money to fund the purchase of its own shares, reducing funds for investment. He also failed to consult other directors on important decisions meaning that his behaviour went unchallenged”.