Law Firm Sued For Negligence Over Rangers FC Takeover

Law firm Collyer Bristow is reportedly being sued for negligence over its part in the doomed takeover of Rangers Football Club by Craig Whyte.

The law firm is said to have overseen negotiations in which Scottish businessman Whyte bought the club for the puny sum of just £1.

In the lawsuit, the administrators of the football club, Duff and Phelps, are accusing Collyer Bristow of a number of failings. These include professional negligence and a breach of rights and obligations. The administrators are now planning to sue for damages of £25 million on behalf of the football club.

Collyer Bristow has announced plans to strongly contest the claims, with a spokesperson saying:

“Collyer Bristow received detailed particulars of the claim on behalf of the administrators Duff & Phelps. A significant proportion of the damages claimed by the administrators [in excess of £25m] relates to claims for ‘consequential loss’, which we believe to be highly speculative.

“As we have previously stated, it is our intention to contest all claims brought by the administrators in the strongest possible terms, and this remains our position.”

If the Collyer Bristow should lose the case, however, it will need to rely on its professional indemnity insurance in order to cover the damages.

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