Duff & Phelps seeks £120m from Crown over Rangers case
Duff & Phelps handled the administration of Rangers (pic: SNS Group)
Global consultancy firm Duff & Phelps, which handled the administration of Rangers Football Club, is pursuing a £120 million claim against the Scottish Crown Office for reputational damage, according to a report.
The New York-based firm says it lost significant earnings after two of its staff were wrongly arrested as part of the prosecution service’s “malicious” investigation into the 2012 takeover of the Ibrox club.
David Whitehouse and Paul Clark have already been paid £10.5m each in damages after they were arrested in 2014 following a police raid on Duff & Phelps’ offices. Charges against them were later dropped.
Earlier this week former Rangers chairman Charles Green accepted an out-of-court settlement of £6.39m for also being wrongly prosecuted.
Duff & Phelps has launched its own legal action, with a formal request for tens of millions.
One source told The Times: “I believed Duff & Phelps were suing for £60m but the figure has gone up and up and is now closer to £120m.
“Seemingly, the Crown Office want to negotiate and don’t want it to go to a hearing.”
Roddy Dunlop QC, acting for Duff & Phelps, confirmed the firm was seeking a “substantial sum”. He told The Times: “The case is ongoing. It has been raised.”
Another legal source told the paper the firm wanted tens of millions of pounds, saying: “The impact on the company has been a very significant one. It was a successful business with a significant turnover and, as a result, the impact could be measured in big numbers.”
A Crown Office spokesman said: “This case is active and accordingly we are unable to comment at this time.”