The former owner of one of the country’s most decorated football clubs has lodged an appeal against a £17.7 million court case won by an Octopus Investments-backed ticketing firm, STV news reports.

The London-based ticketing firm, Ticketus, raised the court proceedings against former Glasgow Rangers owner Craig Whyte earlier this year over a deal made over season tickets to watch the Ibrox side.

At the Chancery Division of the High Court in London in April, a judgement was delivered in which it was found that the businessman had failed to disclose his previous ban to the firm.

The club’s former owner was disqualified from holding a directorship for seven years after he was alleged to have misapplied assets at two firms and settled a £150,000 claim with liquidators of one firm, Vital UK Limited, after being accused of “misfeasance, breach of duty and negligence”.

Mr Whyte bought previous owner Sir David Murray’s 85 per cent stake in Rangers for £1 in May 2011, though effectively funded his acquisition of the club through the Ticketus deal.

He used the funds gained in order to clear the club’s £18 million debt with the Lloyds Banking group.

Ticketus, which is commercially backed by Octopus Investments, was awarded damages totalling £17.7 million and expenses of £680,000 in the case after Master Marsh ruled in the firm’s favour last month.

It was confirmed by a Judiciary spokesman on Monday, however, that Mr Whyte had lodged an application which sought permission to overturn the High Court judge’s ruling in the case.

The papers which outline the grounds for appeal will be considered at a later date by a single judge at the High Court, though Master Marsh himself noted that there was “no real prospect of success” should the case face full trial, deeming Mr Whyte’s evidence as “wholly unconvincing”.

Mr Whyte maintains that he is the rightful owner of several of Rangers’ assets, as Charles Green, former Chief Executive, and Imran Ahman, Commercial Director, acted as a front for his activities.

He has added that he feels he faces “a substantial injustice” by not being allowed to cross-examine Ticketus witnesses.

Ticketus claims that it would not have entered into an agreement with Mr Whyte had it been aware of his previous history as a director.

Mr Whyte allegedly denied that he had ever been disqualified as a director - or that any company he was involved with was investigated by regulators - in a questionnaire sent to him from Ticketus during the deal.

A statement from Octopus Investments from February last year reads: “Ticketus is one of the many entities into which Octopus Protected EIS invests.

“Ticketus has purchased tickets for Glasgow Rangers games for a number of seasons in advance, as it has done for a number of years previously with the club.

“Ticketus does not lend money; Ticketus is the owner of assets - the tickets.

“Octopus is continuing to work with the administrators and Glasgow Rangers on this matter.”