Much of the response from Duff and Phelps to last night’s revelations by Mark Daly on the BBC website centred around their fees. BBC revealed that partner, David Grier, emailed Craig Whyte to say, “We propose to cap our fees in respect of an (sic) CVA or Administration to £500k, however, we request the ability to discuss with you an additional payment in respect of our total time costs, in so far as this does not impact on your position.”
Contracting to cap fees at £500k when you subsequently bill creditors £3.5m for your own time plus £2m legal costs would embarrass many of us, though not everyone. Duff and Phelps added a caveat that they could discuss additional payment as long as it did not impact on Craig Whyte’s position, which they perhaps did.
The more interesting part of the exchange between Whyte and Greir is their preparation for “HMRC being hostile”.
Craig Whyte:
“I’d like to speak to David [Whitehouse] and Paul [Clark] to make sure that they’re comfortable with the fact that we might end up with HMRC being hostile (I suspect this will end up being the case so you should go into it with your eyes open)”
David Grier:
“Agreed.”
It is fascinating to wonder how comfortable Mr Whitehouse and Mr Clark were with Craig Whyte’s plans in the event HMRC were hostile. HMRC are Rangers largest creditors. Administrators run the company in the interests of the creditors, not the shareholders.
Three days after this email exchange Rangers went to court to insist Duff and Phelps were appointed administrators instead of an appointment by HMRC.
Last week Duff and Phelps denied they have a conflict of interest concerning this administration. They are currently negotiating a CVA with HMRC and other creditors.
E-lites are opening a concession on the first floor of Buchanan Galleries tomorrow. They are giving away a free copy of CQN Magazine to customers throughout June, while stocks last.
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philvis
Your final sentence redeemed a flawed argument o-:)
JJ
philvisreturns
As a broad generalisation, yes. You tend to find a lot more hate in mainstream leftist rhetoric than you do from conservatives and libertarians.
You obviously haven’t read much Rod Liddle!
Philvis, you really are a card, two quotes from your earlier posts –
Ireland would be better off today if it was still part of the UK. In fact, Ireland should ditch the Euro and rejoin the pound as of tomorrow.
Anyway, I’m sure you agree with me that Ireland would be better off today if it were still part of the UK. Ireland would get the Euro and ECB off its back and we could see a reunified Ireland within a federal UK – the best of both world for the island of Ireland as a whole and a renewed Hiberno-British alliance for the 21st century. What’s not to like about that?
If pushed I’d have to say I feel pity for you as you’ve obviously been deprived of an Irish upbringing, something that would have enlightened you to the fact that life is precious and is more about a man’s soul, his spirit and heart, it is definitely not about something as basic as money.
Irishmen fought oppressive English injustices for centuries to achieve a free Ireland and you reduce it in an instant to a mere question of being out of the euro. Freedom is of more importance to an Irishman than any monetary value, you poor deluded Thatcherite clown.
Normally I’d ignore your uninformed chatter but today you’ve over-stepped the mark
with your flippant idiocy.
SonOfDan 13:07
Crazy prices for those packages to Poland for Ireland games.
I see the tickets are available at 60 to 120 GBP. Private accomodations from 15 GBP / night / person.
bournesouprecipe on 31 May, 2012 at 16:56 said:
>>>
suicide by chugging….should be compulsory work activity for orcs.
HH!
My dear,dear,dear,friend.. Philvis
Pal… Left or Right.. of the Political Spectrum…disnae really maitter tae me.
fur..
Ah only am Interested in whit’s in it fur .. Me.
There is no a dime’s worth of difference between the Major Parties..
And the Reason fur that?
Why it’s because the Office Holders, once they are Elected..from EITHER PARTY…
Are only interested in
“Whit’s In it .. Fur Me?”
Get it? Got it? Good!
So.. Ah save a Loat o’ Time . And Aggro.. by..
Beating These Fellows tae the Punch!
Ah make Ma Admission.. up Front…
which is..
Tae hell wi’ Poverty ..
“Whit’s In in Fur , Me?”
Fur..
Like Ah said..
Politics is just a Game o’ Punch and Judy..
But ..in the End…
The Bottum Line is Always the same fur All Shades of Political Party Hacks.. and that is..
ONCE THEY ARE ELECTED TAE OFFICE!!!!…
they Chortle…
Tae Hell wi’ the Public..
And
“Whit’s In it fur . ME?” they Gush.. in Anticipation.
Kojo
Yer pal. .. who likes ye aloater
Still, Laughin’
SoD at 12:07 not 13:07, I think.
Still can’t believe green’s money is a LOAN, and ranker’s need to pay it back, if ne buys the club…….. Some consortium….LOL
This guy’s flier than agent Whyte…….at least agent Whyte paid £1…..LOL
And he’s turning up at all these meetings before he buys them …LOL
3 LOLS make a HHHHAAAAAA …HHHAAAAA
get us out of this league…..!!!
SFA / SPL ……. please take a wee bit of time to actually review what they have done to Scottish Football over the past 20 years, then BAN them… Then get Police Protection….
When RFC(IA) disappear, hopefully FF won’t do the same. Comparing two articles, one by Tom English and the other by the man who unwittingly coined the phrase “succulent lamb”:
“The telling tale of two sports journalists.
Contrast Traynor’s searching contemplative informative and factual article to the sensationalist hateful diatribe penned by Tom English and reflect.
In both articles you are instantly able to see the different styles affected by Sports Journalists in Scotland regarding this issue.
Traynor no friend of Rangers nonetheless stays honest to his trade and manfully tries to inform his readers as an expert witness might inform a court, dispassionately and without prejudice laying out facts for their digestion.
English a Rangers hater like so many others in this warped small country, embellishes his article with negatives and ridicule attempting to bring his readers to the boil in outrage, his piece nothing other than an opportunity in stirring up yet more hate in order to forward his agenda of killing something he detests with his entire cultural DNA.
It is plain that Traynor passionately cares about football but not in any tribal fashion, he is just simply a supporter like most, but true to his calling he can write about it without a scarf around his neck.
Personally I haven’t warmed to Traynor during those last weeks, why should I do so to someone merely doing his job properly.
That said, he refreshingly cuts an honourable figure in a trade that in Scotland is presently plumbing the abyss of prejudice and hate.
Tom English on the other hand has been unable to disguise the prejudice he swallowed with his mother’s milk.
Nurtured in his native Eire and tucked away in his paddy bag for the trip across the Irish Sea, English often tries to keep this hate submerged beneath a more acceptable face to his Scottish Protestant hosts.
Tellingly as the Rangers story has grown and the fate of our club become increasingly desperate, English has unleashed the contents of the paddy bag across every article he has penned about our situation.
Our possible death too close for this hater to squander the chance to help see us finished, and be damned with masquerading as something he never was in the first place anyway.”
Irish blood. Irish Heart. Conceived in Spain. Raised in Glasgow and Canada.
Married to an Anglo/Celt. Living in The Deep South. Supports Celtic F.C.
Natural born Socialist. Musician.
Okay….nobody’s perfect.
lol!
HH!
:-))
The Rev I .Miller of bonhill is definitely on the side of the Angels.
Things you won’t hear during the ole long summer months
“Gers swoop”
The Spartist Trot thespian Corin Redgrave( bro of Vanessa) once said that ‘Humour is the last refuge of the bourgeoisie’.
Monaghan1900
If that’s a Timposter, he’s done a pretty good job. I particularly liked the Struthian flourish at the end, complete with garbled syntax. Top notch.
Things you won’t hear over the long summer months:
‘Steady on Dick, you got the last round’
Things you won’t hear over the long summer months:
‘ Chic talked a lot of sense to-night’.
Dontbrattbakkinanger on 31 May, 2012 at 16:13 said:
Oh! Mairzy doats and dozy doats and liddle lamzy divey. A kiddley divey too, wouldn’t you-oo?
____________________________
Mares eat oats and does eat oats,
And little lambs eat ivy,
A kid will eat ivy too,
Wouldn’t you ?
That is for the benefit of younger CQN’rs who might think thar DBBIA has cracked up.
bournesouprecipe
on 31 May, 2012 at 17:24
said:
Things you won’t hear during the ole long summer months
“Gers swoop”
————-
I really liked that…but did think Rangers swoop a new low, but then again this is the Scottish sports media we cannot even see cracked crests
Dirty dirty rangers beggars, be gone from this dear Green place..
Mort on 31 May, 2012 at 16:56 said:
”Investment in films brings much greater revenue to the taxman than just the basic returns investors get. ”
Yes, money goes round in a circle.
But how are films different to any other product or service?
Hardly the point though. The tax avoidance/evasion schemes that have grown up around the tax concession scheme for the film industry were not what was intended by Parliament.
That’s why the fees charged by the people who devise and market the schemes are so high.
“That’s a pen for me every day of the week”
Davy Provan
* for Ragers*
67Heaven … I am Neil Lennon..!!..Truth and Justice will always prevail on 31 May, 2012 at 17:20 said:
>>>
If you read Greenyboy’s C.V. you can see in an instant what he is : chancer.
Analogy comin up : I borrow your car (let’s say,a half decent 10year old Volvo estate.) I give you a monkey to hold for me. I take your car for a while. I trash it. I flog the stereo,I flog the spare tyre,I flog the rims. I use it for ram-raiding.
I return it to you, take back the fattened monkey,share it with my mate who’s been keepin’ an eye out round the corner for me,and go lookin’ for the next gullible yokel.
That is Greenie & Whytie bangin’ Rankers ’til they die.
bournesouprecipe
Something a field mouse won’t hear this summer – an owl swoop.
(Because the owl must have stealth on his side and… forget it, you’re an adult, you can work it out)
Dontbrattbackinanger
I’ve had many an awkward dinner conversation with the Redgraves, especially when I piped up, “Did you ever hear the one about the two Jews who walk into a servile metaphorical cliche designed to prop up decaying Western decadence?”
•-:¦:-•** -:¦:- sparkleghirl :¦:-.•**• -:¦:-• on 31 May, 2012 at 15:08 said:
Tomorrow, June 1st is a watershed day isn’t it? Players free to leave, wages back to 100%.
I think Wishart said that any of the huns who took a wage cut,in exchange for a reduced transfer fee,could leave on a free transfer on 1st June if Whyte was still the owner.Haven’t read anywhere that Our Hero has left the building.
@Miki67 – in my daily lurking I noticed you said you lived in “The Deep South.” Are you referring to the Deep South as I (a Yank) would know it? Or is this another use of the team I’ve misinterpeted? If you’re in Dixie, then where do you live?
Don’t mean to pry. As a native Southerner, it’s just friendly curiosity/craic on my part.
Hail Hail
TT
See if all you left wingers come in a bit to the middle, and all the right wingers (that’s you Philvis) come in to the middle, then We could have a massive huddle n talk Celtic, what’s not to like?
Hx2
up_over_goal on 31 May, 2012 at 17:26 said:
And if it’s a Timposter, he’s got the intelligentsia eating out of his hand.
HH
sorry…team = term
BFDJ……”The taxman has to be realistic”
To be pedantic, Rentoners are not jeely eaters.
bournesouprecipe on 31 May, 2012 at 17:39 said:
BFDJ……”The taxman has to be realistic”
When did the fat simpleton say this ????
Hail hail
OK, whats a jeely eater?
Is it possible that Doncaster really is that thick?
‘The SPL chief executive also said that it was extremely difficult to design a fit-and-proper test for prospective new owners of clubs.
“If you talk about past criminal record, then arguably Ghandi I think had a criminal record, and ultimately he’s be a fit and proper person to run a premier league club in Scotland but he might be forbidden by such an objective test.”‘
Tennessee Tim on 31 May, 2012 at 17:35 said:
>>>
Apologies if I’ve mislead anyone…..not America….Ingerland….Bournemouth,to be precise. I call it The Deep South,because of jokes I share with my compadres here.
I have visited America,many moons ago,mainly the Midwest and the West Coast.
I have always wanted to visit Louisiana,but probably never will.
Anyway,HH! to you and all Tims in,and from,Dixie.
Vmhan on 31 May, 2012 at 17:35 said:
See if all you left wingers come in a bit to the middle, and all the right wingers (that’s you Philvis) come in to the middle, then We could have a massive huddle n talk Celtic, what’s not to like?
Hx2
__________________________________
Fair enough, Vmhan, but who is then going to drop all those lovely big bombs on innocent men, women & children to keep our lucrative arms industry in production ?
BBC Scotland’s website’s sport headlines consistently refer to “Gers”. This really annoys me. “Gers” is an affectionate nickname used by supporters. Oh, wait a minute……
bournesouprecipe on 31 May, 2012 at 17:39 said:
BFDJ……”The taxman has to be realistic”
Ach, I don’t see why Deeky, none of the rest of the cast in this great soap opera is.
Kojo
…McGill?…so you were a Montrealbhoy for a time…good to know…the stories you must have…
Hail Hail!