David Whitehouse paid £80,000 in compensation over wrongfully issued order

David Whitehouse, 52, of Duff and Phelps, has been seeking £180,000 in damages against Lord Advocate James Wolffe QC over the order.

It was issued in relation to failed prosecution attempts regarding fraud allegations made during the purchase of the club in 2011.

Mr Whitehouse and his wife had claimed that the Crown acted inappropriately during a police investigation into the club’s financial affairs in 2014.

He was charged with financial wrongdoing and prosecutors obtained an order freezing his assets. He was later cleared, however, and the order was lifted.

It is now understood that the Crown Office and the Whitehouses have agreed a settlement of more than £180,000, with a compensation element of £80,000.

In a statement, Mr Whitehouse said: “Whilst I am delighted to now put this matter behind me, I am equally disappointed not to have the opportunity to expose the full facts surrounding the Crown’s conduct at a trial which was due to commence on Tuesday.

“I believe it would be scandalous if the Scottish Parliament did not hold the Lord Advocate to account for the manner in which this matter has been handled.”

A Crown Office spokesman said: “The Crown has accepted Lord Glennie’s judgment… and has agreed to make a payment in compensation.”