Rangers have vowed to "vigorously defend" any claim from finance firm Orlit after confirming they have been in dispute with the Singapore-based company.

The club issued a brief statement saying they had agreed a deal with Orlit over an "insignificant" debt.

The statement was in response to reports claiming the firm could seek a winding-up petition over a £400,000 bill for services relating to investments made when Charles Green's company bought the oldco Rangers' assets and business last June.

Amid ongoing reports that Orlit were still looking into seeking a court order, Rangers tonight repeated their claim that a deal had been agreed, but not completed, although they added that they were still being "harassed".

In a lengthy statement on their official website, which hit out at the reporting of the issue, the club said: "Rangers have been disputing a payment to a foreign company, Orlit, although it should be stressed we have never said there is no bill to be met.

"What we have said and what we are telling our supporters is that not all of the invoices submitted with regard to this bill are legitimate.

"Clearly there has been a lack of understanding within the media about this when all we have done is refuse to be forced into paying sums we do not owe. It is as simple as that.

"Who on earth would pay out when faced with a spurious request for money?

"No matter what anyone else says, Rangers have agreed a figure to settle this issue and it is a figure which, as we have already tried to explain, is significantly less than the initial demand.

"Only the wording, which would put this matter to rest once and for all, has still to be signed off."

Rangers again insisted that there was no threat to the club and added: "But let's make one thing clear: If Orlit wish to instruct their lawyers to go to court then we will defend our position vigorously.

"We are absolutely convinced we'd win but we did think it would be better to avoid giving our many detractors another bar with which to beat us over the head.

"That's why we made an offer to settle but we now find we are still being harassed."

Orlit have made no comment on the matter.

The statement was accompanied by a separate, near-1,200-word article, written by recently-appointed director of communications James Traynor, which hit out at media coverage of the club.