Lots of news is likely to come your way today, so just a brief catch up:
This is very much a false dawn for anyone hoping to rescue Rangers via a Creditors’ Voluntary Arrangement (CVA). While Duff and Phelps can accept a deposit from a third party planning CVA, that party would then need to negotiate with HMRC, which is another story altogether.
On Friday evening Duff and Phelps gave strong indications that they would work with the Blue Knights to enable them to secure preferred bidder status today. Although there were many obstacles in their way the key one for me appeared to be Duff and Phelps belief that Ticketus would be able to convince Craig Whyte to delivery his shares to a buyer without holding out for a substantial payment.
As you know, Craig Whyte is the only game in town and achieving this seemed remarkably ambitious. Indications this morning suggest those ambitions have not been achieved.
We hear this morning that despite their love and loyalty to the club the Blue Knights have still not found the £500k required to before preferred bidder and that any bid submitted today is likely to remain as conditional as the ‘bids’ they submitted earlier in the process.
Our favourite, Bill Miller, has placed Duff and Phelps in an interesting position with the offer of hard cash, although his press release on Friday also contained many impossible to deliver conditions. He will now know that the SPL and SFA will not acquiesce to his demands for a pack of Get out of Jail Free cards.
This may be enough to encourage Miller to drop out of the process but unlike the Blue Knights, who appear to seriously expect Craig Whyte to shrug his shoulders and walk away, Miller must have known his demands of the SFA and SPL were highly speculative.
If Miller submits his offer to ‘wire’ £500k into the creditors’ pot today, with or without SFA/SPL conditions, Duff and Phelps cannot allow his offer to expire without accepting it or an alternative.
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hAIL HAIL
Minutes piece at work :O)
VP
Aye likely, you a teacher?? :-)
Jim Jeffries is a pie in at number 4
Keep up the pressure Paul
Sunnybhoy at 6.32 said We had accumulated 62 SPL points more than Them. These stats suggest it is even more (even allowing for Their 10 points deduction):
Rangers 77 90 82 85 97 81 93 73 72 86 86 87 93 66* 1,102 14 78.71 7
Celtic 71 69 97 103 97 98 92 91 84 89 82 81 92 81 1,227 14 87.64 7
So, that 115 points advantage, if we were to spread it out a bit, could have led to 14 consecutive titles (which, of course, we might get anyway if they are srtipped of theirs!).
JJ
hamiltontim on 23 April, 2012 at 10:08 said:
HT ,hope you have polo mints,widnae like to think
you were breathing beer fumes over the weans.
Jeg er Neil Lennon-Greeninbingley on 23 April, 2012 at 09:54 said:
On the ball,mate.
Requires re-posting,I think.
A sneaky wee early morning article!
I can’t see anyone being able to put in an unconditional bid today. There are just too many uncertainties.
Meanwhile the money continues to be spent.
VP
No alcohol yesterday and was in bed for 10pm last night!!
Good morning Paul 67
Call me an auld cynic but the only likely thing for RFCia is that tomorrow is Tuesday
macjay1
Thank you for re posting my extremely early morning effort yesterday, it meant a lot mate.
What’s the cashflow situation at Poundland these days?
What income is available to D&P to allow them to pay running expenses?
Liqubation!
Who is this clown bill miller anyway and who does he think he is thinking he can dictate to anyone
And in the end
The love you take
Is equal to the love you make.
Very true, its going to be a long painful death and they deserve every biot of ther suffering they will endure
Ernie
The plan, as far as it goes, it to achieve an outcome by 1st June, or close up.
If it is found that Rangers have incorrectly registered players and (several!) matches are then recorded as 3-0 losses, does that mean Kris (with a K) Boyd may well lose his highest ever SPL scorer title?
Wonder who it would revert to?
:-D
From The Herald’s chief football writer’s match report of Motherwell-Celtic yesterday (see link at top of page):
… Both Hooper and Glenn Loovens were guilty of being caught in possession.
… Steve Jennings tried his luck with a long-range lob which Forster watched carefully.
Wonder what Glenn was caught in possession of, and I guess Forster did indeed watch the lob carefully. Neither Loovens nor Forster played yesterday.
Shocking.
Paul67 –
A big day at the big hoose.
Do you reckon the plug will be pulled this week?
Paul67
Do you have any news on the story that a firm of Solicitors were approached on Friday to handle the liquidation.
Carlsberg Jelly & ice cream Monday…
McCoist’s language and overall demeanor at Friday’s press conference was as good an indication as any statement that we are perilously close to the end.
Woo Hoo :-)
What a day it would be to witness the bulldozers taking the bigotdome down. I’d quit my job to get home to see that. Thumbs up photos galore!
Paul.
You post.
He will now know that the SPL and SFA will not acquiesce to his demands for a pack of Get out of Jail Free cards.
How certain can we be of this.
They may not give him anything in writing, however, as Celtic historian James E. Handley observed some fifty years ago ‘there are more ways of discovering a person’s religion than crossing yourself or playing an imaginary flute in front of their face.
Jheelyeater, I don’t think it’s possible to add pressure to this situation.
Gordon_J, aye. I reckon it’s Wild Bill or the L word tomorrow.
Thindimebhoy, that’s a bit ambitious for them!
Steinreignedsupreme, unless the Blue Knights find someone to cough up £500k I don’t see how they can avoid allowing Wild Bill to liquidate.
ASonOfDan, not solicitors, international accountancy firm, BDO, have been preparing. Confirmed.
Paul67 – so you reckon that the rumours that Doncaster et al have come to an “arrangement” with Windy were wide of the mark?
Paul67
cheers.
Paul67 – I expect another rollercoaster day today, some bid hokey cokey aswell.
I am still backing our friend from the Windy City.
I love that guy……do you not find it strange Alistair “Due Dilligence on Bidders” Johnston has not said much about the American businessman? Perhaps he doesn’t fancy dormir con los peces
Ma mate Rab reckons ASDAs r putting a bid in for the rangers. He works oan the trollies and he saw mister whyte pushing his across the ASDAs car park at govan afore he bought the rankers. He asked him at the time whit he wiz doin and whyte said he was going oan wan o them supermarket sweep things at iPox. Rabs pal big dave is the assistant ti the temporary junior bakery manager at ASDAs bakery and he said that cos the trolley was stoled that the pound used ti buy iPox wiz ASDAs an that whyte used that pound ti buy a fitba club. Daves mate hiz a cuzzin in Monaco and seen a trolley in the watter o the Marina wi the pound missin so it must be pure dead true so it is. How come the byassed meedja huvnae ran this story? Ah think it’s a piracy so it is, u just wait and see.
There’s something delicious about the possibility of them being liquidated today, St George’s Day.
Jeg er Neil Lennon-Greeninbingley on 23 April, 2012 at 10:17 said:
From The Herald’s chief football writer’s match report of Motherwell-Celtic yesterday (see link at top of page):
… Both Hooper and Glenn Loovens were guilty of being caught in possession.
… Steve Jennings tried his luck with a long-range lob which Forster watched carefully.
Wonder what Glenn was caught in possession of, and I guess Forster did indeed watch the lob carefully. Neither Loovens nor Forster played yesterday.
Shocking.
+++++
Loovens hasn’t even played a single minute against Motherwell this season.
Bill Miller does not have off the radar wealth.
His business record and his business accounts suggest that he prefers to work with hard cash..
He could easily click a key and wire the necessary 500 k. He will know that so doing will force Duff and Phelps to do something . He will also know that so doing will force the likes of The Blue Knights to put up or shut up..
Lovely sunny day -way down south.
My post at 10:17 was a serious query?
Does anyone know what would happen in that scenario? I have my own opinion but would be interested to hear that of others.
Calm down chaps.
As a politician acquaintance of mine was fond of saying at election times.
‘It’s never in the bag until it’s in the box’.
ah, misplaced question mark.
Now I sound like I went to bandcamp,onetime.
There could be a lot happening today, and none of it is likely to be good for them. But look out for every move being spun as a positive and saviours aplenty lining up to rescue the huns.
The eventual crash is going to come as a real shock to anyone who is daft enough to believe the media.
Can you still be ‘preferred bidder’ if there is only one bid?
Does the 500k fee for getting a look at the books still apply if you are the only interested party?
El Mad
preferredliquidatorCSC
Gordon_J – people need to remember the print media in this country have become addicted to Rangers news. They have the fear about the prospect of having to change a business model in a failing industry.
My advice? Follow the money not the drivel…