February 7, 2013 / 3:22 PM / 5 years ago

Rangers say no threat to club over debt dispute

LONDON (Reuters) - Former Scottish football champions Rangers have dismissed fears that the club could face a new battle for survival over a disputed bill.

Rangers' chief executive Charles Green adjusts his tie before watching their Scottish Cup soccer match against Dundee United at Tannadice stadium in Dundee, Scotland February 2, 2013. REUTERS/David Moir

One of the best supported teams in British football, Rangers have had to relaunch from the fourth tier of the Scottish game after their parent company was liquidated last year.

Britain’s Channel 4 News reported that Singapore-based Orlit Enterprises was planning to go to court to seek a winding-up order against Rangers over disputed invoices for 400,000 pounds. The bill was for help in finding investors to rescue the club last June, the report added.

“With regard to stories circulating about Rangers and Orlit, the sums sought are insignificant and agreement has been reached subject to the necessary paperwork,” Rangers said in a statement on its website.

“Rangers Football Club is capable of meeting any debts presented legitimately and we would like to stress to our supporters there is no threat to the Club whatsoever,” it added.

Rangers raised 22 million pounds when they listed on London’s junior AIM stock market in December.

The club is currently top of the third division in Scotland but has been caught up in a dispute over plans to restructure the Scottish game that could still leave it languishing in an enlarged bottom division.

Writing by Keith Weir, Editing by David Cowell

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