2 h 2 min, 1 mai 2011 ans - Around this time (unknown date) as part of the ongoing discussions regarding the sale of Rangers to Wavetower, David Murray's Holding company confirm to Rangers representatives that there is no conflict of interest/other benefit in the deal to sell their shareholding to Craig Whyte's Wavetower. This turns out to be false. Lloyds Ian Shanks will later tell the Court in the course of Whyte's fraud trial that the bank had agreed to give Murray his metals business back on the proviso he sell Rangers.

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[Alaister] Johnston told the BBC: "Oh yeah I feel misled because these guys knew, the bank and the Murray executives, their accountants, their lawyers, they knew why we were asking [for the assurance].

"The answer came back with what I would call technical evasion.

"But it prevented us doing the right thing in terms of being as transparent as we could with the shareholders and stakeholders in Rangers Football Club."

In a statement, Sir David Murray said he did not accept the assurance provided was misleading.

He added: "As part of the restructuring of the Murray International Holdings Group in 2010, it was agreed between myself and Bank of Scotland that Murray Metals Group (MMG) would be owned as a joint venture between the bank and myself. The joint venture would be constituted by me acquiring 50% of MMG for £1. Once this was agreed in principle the bank then required that the transaction should be linked to a sale of Rangers.

"However, the bank subsequently required that the conditional sale agreement be treated as null and void and that MMG should be marketed. Following a marketing and competitive auction process … part of MMG was acquired by Barrett's Steel in 2012, and the other part by myself for £13.8m in the same year, which included refinancing the bank debt owed by the relevant part acquired.

"The transaction referred to by Ian Shanks therefore did not take place. In any event, even if MMG could have been acquired by me for £1, this would not have acted as an incentive to dispose of Rangers to anyone who did not appear to have the means to fund the club going forward."

https://www.bbc.co.uk/news/uk-scotland-40176560

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