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.
[calameo code=000390171d4d843c4ec07 lang=en page=2 hidelinks=1 width=100% height=500]
613 Comments- Pages:
- «
- 1
- ...
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- »
Magnificentseven on 31 May, 2012 at 18:46 said:
did I just hear Kojo talking to himself again!!
=======
You’re never alone with a schizophrenic….
tamstered on 31 May, 2012 at 19:05 said:
I know I shouldn’t but I think they might get hammered.
There’s a place called Priestland near Moscow.
What’s that all about?
Larky Celt on 31 May, 2012 at 18:56 said:
>>>
The Covenanters on magic mushrooms…..ah, I misremember it well.HH!
*~*
Off work now for a few days and will be able to catch up on the ‘pantomime’ which is RIA…….
Jimmy:
I don’t think there is anything intrinsically wrong with patriotism- in fact it is a natural default setting- but nationalism is more pernicious & sinister. Nationalism is patriotism’s rogue underbelly where the vulgar are atrracted to its shadowy primitivism. What would the Irish have achieved in the battle for independence from the Brits if they didn’t love their land?
What can we know of ourselves if we do not know where we come from- and what can we know of the world if we know nothing of our own land?
A love of ones country is viewed ver cynically today. People in general live in a sanitized culture wherein passion & belief is seen as irrational & even dangerous- we all need to believe in the sanctity of the land. A love of your own land & an openness to the wider world are not incompatible…its like that trite cliche: you cannot respect others until you respect yourself.
tomthelennytim on 31 May, 2012 at 19:04 said:
Response to Court of Session ruling
Thursday, 31 May 2012
Stewart Regan, Scottish FA Chief Executive:
“The right of appeal is now open to the Scottish FA through the Court of Session. However, by so doing, the very principles on which the Scottish FA – and, for that matter, UEFA and FIFA – are founded, namely football disciplinary matters being dealt with within its own jurisdiction, would be fundamentally compromised.”
That’s nonsense.
If that’s the SFA’s position they shouldn’t have entered appearance in the action to start with.
ERNIE LYNCH 1910
It’s in Darvel-and if you’ve ever been to Darvel,you will know the name is a real puzzler……..
I might be reading that wrongly but I think it’s a very good statement from Regan and sets the Huns up for suspension at the appeal.
The matter will be dealt with by the SFA and they know UEFA and FIFA who are both mentioned, will be watching.
The SFA cannot fight the ruling in the Scottisg courts as it is not allowed by FIFA. Rangers are finished for a year at least I think.
Wouldn’t hold out on FIFA getting involved at this stage.
If Regan has an ounce of nous he’ll have cleared this course of action with FIFA.
The Appellate Tribunal have only two options now, as I understand it; reduce the sanctions to the fine only, or increase it to expulsion?
Dushanbe
Ye still a B.T. On the peach Melba ?
M
wonkyradar on 31 May, 2012 at 19:12 said:
”in fact it is a natural default setting”
The brain is hardwired that way is it? It’s not acquired by socialisation? It’s not a social construct?
Miki, the only time I remember Ayrshire with fondness if I remember anything at all, we were allways on the Strathavon bus
This can go a few ways now.
If they cannot give a transfer ban as it is specifically not in the rules then the only thing they can do is expel them or suspend the licence.
Out of the frying pan and into the fire.
If the SFA give a weaker punishment then that too is in breach of what the judge who deemed the embargo wrong said as he himself said a lighter punishment wouldn’t wash.
I think a years suspension of Rangers would solve a lot of problems for everyone involved but we now see what will happen.
In Conisburgh, South Yorkshire, near Sheffield there is road called
“Butthole Road”
What’s that all about?
In referring things back to the appellate tribunal, isn’t Regan opening up the SFA to sanctions from FIFA? Unless of course, he’s received assurances…
Does anyone think the SFA might find it difficult to locate three suitably-qualified people to sit on the next tribunal who will have the balls to do what must be done?
OK,you would have no shortage of volunteers from here,for example,but the three unfortunates chosen face having their lives-and livelihoods-blighted by this.
Interesting,I think.
How about bumping the decision to UEFA/FIFA as the ultimate arbiters?
Everyone’s a winner!
Except Rangers,of course.
Hmmm….no mention from Regan with regard to additional sanctions against RFC(IA) for taking it to CoS in the first place…so will FIFA act against the SFA?
Not been around since the the axe was sharpened above my ancestor Mary’s, the most beautiful queen of Scot’s, nape. But tonight here’s the first wee bit of my introduction to the story of the disaster down Govan way.
Surely there will be books in the press but I guarantee you none with this introduction.
So here’s the taster.
I’ve called it Eight and a half
Just remember that this is not just the first stanza of of a poem that has rhymed down through the ages, but it is also the first time I’ve been allowed out on my own for a while which makes it the indelible words of a drunk!
The second instalment is a beaut!
Hail Hail
Estadio
celticdonnelly on 31 May, 2012 at 17:48 said:
Bhoys and Ghirls, check out this nice wee article on an Aussie sports/pop culture site about Neil Lennon and his struggle against racism and sectarian abuse.
http://the-flack.com/2012/05/man-or-ball-the-challenges-of-lennon/
share on F’book or Twitter
Brilliant read, when they pick manager of the century I hope they look back and NFL gets a mention after he wins the CL a couple of times and gets his proper place in history.
ernie lynch on 31 May, 2012 at 19:13 said:
its par for the course – both the sfa and the spl have hidden when they should have been proactive. they should be shaping events instead of letting things happen to them while hoping for the best. its the perfect environment for bullies to thrive.
I foresee an Annus Wonderfullus as the Hunz get turfed out of the SFA for a season. That ought to allow time for all of the other manky skeletons to fall out of their cupboard, and the SFA/SPL and the rest of us can snigger from the sidelines as, with them not being a member club of the FA during that period, there will be no onus upon Regan etc. to get involved or even comment upon their travails.
Meantime we can scoop a domestic grand slam and make inroads in Europe too.
WorksformeCSC
miki 67
cheers for the reply if you get my E-mail address from Paul 67 I can send on contact no’s as 21yyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyurea
The SFA couldn’t just tell the courts where to go. Nor could they appeal. I’m sure that reagan cleared this with FIFA – he has a sense of self preservation if nothing else.
The Appeal Tribunal cannot reduce the punishment. It has already agreed that expulsion is too severe. It cannot increase the fine.
That can only leave a suspension.
The question once more becomes one of timing. How can a suspended club pass its share to anyone?
wonkyradar on 31 May, 2012 at 19:12 said:
The older I get, the more difficult I’m finding the concept of patrotism. I just don’t know what people mean when they say they are a proud Scot/Irishman etc. It’s not as if it was an achievment to be born in a certain place and personally I have a lot more in common with groups of people in the north of England than I have with a lot of Scots, such as David Murray or Craig Whyte.
I am often proud to be a Celtic supporter as I have chosen to be one and I share the same values and have a similar outlook to many of them.
wonkyradar on 31 May, 2012 at 19:12 said:
Agree there’s a lack of cognisance of those emotional aspects in analysis of these issues. I’m not sure whether I agree with the dissection of patriotism and nationalism. The root of the word patriotism ties in to the idea of a nation.
Maybe we’re in agreement but using different terms. I would hope that, in the future, individual cultures are nurtured and respected, thats where the riches lie. National boundaries? Different economies and tax systems? Thats what enables corporations to offshore, move for cheaper labour, and – at its extreme – exploit legal systems which don’t offer protection to the average citizen.
The sooner global economic and tax harmony occurs, the better – and that won’t come with national governments.
The new panel, surely, has a much easier job than the previous.
They verdict has not been challenged – rangers accept their guilt. The original panel offered a more lenient sentence than that outlined in the rules and if what Snake Plissken @ 19:17 says above is true, ie that the judge who deemed the embargo wrong said …… a lighter punishment wouldn’t wash. then the panel can say gthat the Court of Session (and the stupid Fighting Fund who involved them) left them with no choice but to apply the suspension/expulsion rule.
So why do I think that won’t happen?
Simple way to judge whether the SFA is straight…
Is Ogilvie STILL president?
Case closed
ESTADIO
Why EIGHT-AND-A-HALF?
Not any other particular age?
What particular memory,good or bad,lurks in your mind that over-rides all others?
Internationalism & Anarcho-Syndicalism.
Anyway,what’s Donkeycaster gone and done now? Heehaw……and he’s given a lot of thought to all that heehaw. If the 10pt. deduction was meaningless,then why was a meaningless sanction imposed for the worst excesses of any club in footballing history (feel free to correct me on that score). Why were MEANINGFUL sanctions not imposed then?. They had them to hand. Expulsion being one.
Boak boak boak.
The orcs will be wetting themselves. Meaningless sanctions,coming 2nd. in The League,with the money that accrues from that position,the endless rip-offs they’ve perpetrated going unpunished,financial doping on an industrial scale,ultra-violence unpunished. And The SFA says what….?
“Heehaw….Heehaw!”
“How can a suspended club pass its share to anyone?”
Good question. When the suspension is over does the share pass back? Which one of the two clubs has to start from the bottom?
miki
Sorry, the original post was by Richie. I only commented for a laugh – mmmm! I don’t do the Sites of Hedes either. I have a dicky ticker and would like a few more years. Maybe if Richie looks in he can help.
H H
Scotland U21s screw it up in injury time. 2-2 v Bulgaria, with Jordan Rhodes scoring both Scotland goals…
MIKI 67
SORRY ABOUT THAT THE CAT JUST JUMPED ON THE KEYBOARD!
BMCUW
That’s the next bit.
Hail Hail
Estadio
Does the Appellate Tribunal have the capacity to increase sanctions for new misdemeanours by the G.A. since they were dealt with at the original Tribunal.
The most serious of the original charges was of “Bringing The Game Into Disrepute”, by withholding Tax and N I contibutions from HMRC up until entering Administration on 2/14/12(St. Hunno’s Day).
Yet from the CVA Proposal,we learn that the GA have CONTINUED to withhold Taxes which have accrued since entering Administration.
Surely a fresh additional charge of “Bringing The Game Into Disrepute” must be added to the lengthening Charge Sheet,when the Appellate Tribunal sits for the second occasion ?
GORDON J 1925
I don’t think suspension is in the rules,is it?
The court verdict was very specific-punishment must be from one of the options available in the rules.
Suspension indefinitely works for me. Only allowed back once all football debts are paid in full,other creditors reimbursed and the rest of their set-up sanitised.
Oh,and when a place in the pyramid becomes available-I would donate to any club in danger of folding under those circumstances!
RRC: on 31 May, 2012 at 19:17 said:
>>>
Okay,while we’re at it,there’s a wee place in Cornwall called ‘B*s*a*d’.
And there are ‘Glasgow’s all over the place!
H!H!