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Former Rangers owner Craig Whyte declared bankrupt by court

Former Rangers owner Craig Whyte leaves Glasgow Sheriff Court
Image: Former Rangers owner Craig Whyte (centre) has been declared insolvent by the High Court

Former Rangers owner Craig Whyte has been declared bankrupt by the High Court in London.

The 44-year-old took control of the Ibrox club in May 2011 but was declared insolvent after Ticketus accused him of luring them into a deal on false pretences.

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

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

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It was alleged Whyte had agreed to sell three years' worth of season ticket sales to the company for £25 million.

It is also alleged he used a portion of that money to fund his takeover of the former Scottish champions.

Under Whyte, Rangers went into administration nine months after he took control on Valentine's Day 2012, with Charles Green's consortium then coming into power three months later.

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