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Ex-Rangers manager sues financial adviser for £320K

Ex-Rangers manager sues financial adviser for £320K

Football manager Walter Smith is suing his former financial advisers for £320,000 over investments made during his time as an English Premier League boss.

The ex-Scotland and Rangers manager launched legal action against Neil Caisley and Gareth Alexander, both of Hertfordshire.

They are former directors at ProVision Financial Consultants, which was dissolved in April 2014.

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It is understood the Ibrox legend is suing the pair over a pension fund set up while he was in charge of Everton in the 1990s.

Mr Smith, 70, of Helensburgh, Dunbartonshire, claims the men agreed to return £600,000 they received in commission on "financial products" but only paid him £280,000 of the sum owed.

The case was called at the Court of Session in Edinburgh yesterday (5 June).

It emerged Mr Caisley, 60, is no longer contesting the legal bid but Mr Alexander, 45, is still fighting it. 

David Thomson QC, acting for Mr Alexander, said Mr Smith and his client had a meeting in December 2013 where certain matters were agreed.

The QC asked Judge Lord Bannatyne for access to documents from Mr Smith’s legal team to prepare their case.

Advocate Neil Beynon, acting for Mr Smith, said his client’s position was that "no agreement was entered into" during the 2013 meeting.

He described the document request as "classic fishing".

A full hearing will be held later this month.