9th Sep 2014 14:09
LONDON (Alliance News) - Rangers International Football Club PLC Tuesday said it has been granted consent to appeal the decision to freeze GBP620,000 of club assets in a dispute with former Commercial Director Imran Ahmad.
Lawyers acting for Ahmad claim he was owed a GBP500,000 bonus for the time he spent working at the Ibrox club. At the Court of Session in Edinburgh last week, the judge found in favour of Ahmad that some assets should be ring-fenced.
Ahmad, who has twice lost court bids to have Rangers' assets ring-fenced, claims he is owed GBP500,000 for negotiating deals and another GBP120,000 to cover legal expenses.
If the appeal is successful, the court's decision will be overturned and the funds arrested will be released.
Shares in Rangers were quoted flat at 25.00 pence per share Tuesday afternoon.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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