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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Fun fact of the day from RTC – of the 1237 insolvency cases in Scotland last year, 14 successfully obtained a CVA
1.1%
WWC
He was undercover, order has gone out for a return to base, last contact received he was in Monaco with the Bug Eyed Hero quaffing champagne and smoking a selecton of Fidels finest.
Enough of yer bunkum seventy! Here’s something funny.
Werner Herzog is fuming with his cleaning lady
Swiss
Livibhoy ——-
Debt is a form of slavery .
Rogueleader
1.1% – they should be quite confident then……..
Actually on the last thread but one I came on the site when there were 1,111 comments……If that had been a test match Dickie Bird would have passed out.
Obscurecricketreferences CSC.
LOL the #duffandphelpsrealnames trend seems to have broken twitter!
how long until D&P run out of cash ?
when is players pay day ?
will the huns make it to CP on Sunday ?
loads of questions no answers
PFayr – PaulMcC did a good article on this very question. He thinks it will be 30th June when they run out of cash going by the creditors statement
Baffled by all the Legalese and the Financial jiggery-pokery. where are they exactly…is it Liquistration, or adminidation ?
wasn’t there also an Octopus somewhere in the menagerie ?
Well Done to Tony Watt yesterday, and also, congratulations to Hoops Fan Jamie Langfield, who returned to keep a clean sheet for Aberdeen at the weekend against the despisable Butchers 11 at the weekend after recovering from the brain seizure he suffered from last year.
Billy’s Bhoy- it was David Shepherd who had the Nelsonian twitch.
DBBIA/WisdenCSC
Paolosboots
Brabners, Manchester £12,999
Brentwood Estates, Manchester £42,963.06 – Unfinished business in England!!!
Brentwood Estates are a local Estate Agents. I know Weiss lived the side of town while at Man. cIty. They must have picked up his rent.
Off topic
Not seen any posts from Tom McLaughlin/Gold Coast Tom in a while. Does anyone know if he is ok?
Billy’s Bhoy @ 14 20
David Shepherd -even more .
Nelson had 2 legs
Brabners are local law firm in Manchester.
Good to know..
Stephen D @stephend_1 Reply Retweet Favorite · Open
Fun fact of the day from RTC – of the 1237 insolvency cases in Scotland last year, 14 successfully obtained a CVA – 1.1% #RFCPlayingTheOdds
bamboo – What delusionable?
I presume this SPL survey has been widely posted previously?
http://splsurvey.co.uk/
DBBIA
I believe you are a man for a cqn badge, how do i get 1 kind sir?
Dontbrattbakkinanger on 23 April, 2012 at 14:13 said:
What happened to the Pacific Shelf 595 money?
———————————————————————
I think it was used to fund Juninho’s EBT.
Not 100% sure though. Hope the huns don’t pick up on this.
HH
Midfield maestro- alack and alas! no more, I went into voluntary liquidation and handed the remaining stock over to the preferred bidder Celticrollercoaster, who is dishing them out via the Kano Foundation.
I’m off to bed, could someone wake me if anything exciting happens. Thanks.
David Shepherd used to do a little ‘hop’ when the score was 111 or 222 or any multiple of 111.
Dickie Bird did The Broonie /
Fantasma is Neil Lennon
Octopus are the parent company of Ticketus.
Re Admin or Liquidation.
To use a medical analogy, administration is when the patient is on life support in intensive care. The doctors are trying to do all they can to help the patient survive but it’s not looking good.
Liquidation is when the machine is turned off, the patient dies and it’s organs are donated to others who can make use of them.
Mort
Mort
a rose is a rose by any other name
or a dung heep for that matter
Still no sign of Donegal Danny though…
Mort
Is the important point from an ordinary Billy supporter’s perspective not the idea of a club (continuing to exist regardless) which can be variously defined
eg A voluntary, unincorporated association of persons for purposes of a social, literary, or political nature, or the like.
In their mind, Rankers Football Club will never die because they arra peepil and, as much as it hurts me to say this, I can understand this view and suspect strongly that I would think likewise if, god forbid, Celtic were to be liquidated.
HH
Che:
The bug-eyed wonder and the gorilla eh?
Begs the question, who is the third man?
Think we should be told…
Steinreignedsupreme on 23 April, 2012 at 14:35 said:
Yes there is.
DD
Look forward to SSb. wee Darrell always keen to impress us with facts. Remember his claims that the Revenue have only won in 4% of EBT cases. Wonder if he will be so keen to announce the number of successful CVA closures?
Nah, don’t think he will either.
Mort on 23 April, 2012 at 14:35 said:
To use a medical analogy, administration is when the patient is on life support in intensive care. The doctors are trying to do all they can to help the patient survive but it’s not looking good.
Liquidation is when the machine is turned off, the patient dies and it’s organs are donated to others who can make use of them.
And Newco is when that dead patient rises once more to live again as a Zombie.
Bhoys
Thank you for correcting my error. David Shepherd it was. I knew it was one of the great old umpires.
Can’t stand Billy Bowden’s manufactured performances.
.
I Miss the Olde CQN..When we Had Sammi Debates..
Summa of SamarasLubbersCSC
” Come on let’s crawl [ gotta crawl,gotta crawl]
To the Ugly Bug Ball [ to the Ball ,to the Ball] ”
Ugly Bug Ball — Burl Ives CSC —Way down south.
merseycelt
I’m sure they might well think that but what they think and what is the reality of the situation are two completely different things.
e.g. Gretna FC 2008 are a continuation of Gretna FC, however Gretna 2008 play now in the East of Scotland Football League Premier Division and have never won the SPL Div 3. SFL Div 2, SFL Div 1 nor have they ever played in the SPL.
Similarly Clydebank FC supporters may see themselves as a continuation of the old Clydebank FC but they now ply their trade in the SJFA West Super League Premier Division and have won nothing of note in their short history (from 2003).
Also Airdre United supporters may feel an affinity with Airdrieoneans but Airdrie United are not the team we beat in the 1995 Cup Final. That team, like Gretna and Clydebank has dissapeared and is no more.
Rangers 2012 supporters may think they are the same club who cheated their way to 9 in a row but unfortunately for them, they are not.
Mort
A lot has been said (only by us timmys mind you) re: the Whittaker assault that only produced a yellow, rather than the nick, on Sat.
But not only did Sportscene not show it, he also got away with this whilst on said yellow. It’s at 4.11. It’s unreal how often this tool gets away with stuff.
http://www.bbc.co.uk/sport/0/football/17710952
Comments would be nice, but i’m assuming you’ll all just shake your heads.
brimmer
.
Summa of Sammi…. on 23 April, 2012 at 14:45 said:
.
I Miss the Olde CQN..When we Had Sammi Debates..
Summa of SamarasLubbersCSC
..
Yes DonegalDanny is Back..Where ye Been Buddi..?
Summa
new article posted.
Sammi debates? My point always about Sammi was that you would hate him to be on the other team. He’d rip you a new one. He’s always shown great attitude as far as I’m concerned. He’d grace any of the top sides in my opinion, and we should be grateful for the fact that he obviously adores Celtic.