Scottish Championship: Rangers granted right to appeal decision to freeze assets
Wednesday 10 September 2014 14:13, UK
Rangers have been granted the right to appeal the decision to freeze £620,000 of their assets as the battle with former commercial director Imran Ahmad continues.
Rangers and Ahmad are due to state their cases at the Court of Session in Edinburgh in November but Rangers will now appeal last week's decision to support Ahmad's claim that he is owed a £500,000 bonus from his time at the club.
In addition, Ahmad is seeking a payment of £120,000 to cover legal costs.
But Lord Stewart ruled on Tuesday: "The granting of the right to appeal may facilitate the raising of fresh capital through the upcoming rights issue and that would only benefit both parties."
The case relates to Ahmad setting up a £10m kit deal with Puma during his time with the Ibrox club, with the full case due to be heard in November unless an earlier date can be found.
As the £620,000 remains ringfinced at Ahmad's discretion, the Championship club may have just around £600,000 to see them through September.
