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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quonno on 31 May, 2012 at 14:09 said:
Are Duff and Phelps simply the latest to be duped by wee Craigie?
Personally I think that they were dited to take on such a job on a fixed fee basis.
______________________________
Are you a Dumbarton man ?
The only people I ever heard using the word ‘dited’ ( doited) were Dumbarton men & Jeely Eaters.
wonkyradar @ 14 00.
More than England ?
More than France ?
More than Germany ?
More than Italy ?
Maybe the most succinct summary as given by Hydraargyrum on RTC:
“Nice car you got their Craigy boy”.
“Aye Chaz, braw eh? Took it aff Big Davie’s hauns, gied us a deal. Bit o’ a steal.”
“Chassis looks a bit bent.”
“Aye, but no bad fur a quid.”
“One pound, you got quite the deal!”
“Mare than the chassis bent, hale motor. Helluva expensive tae run an’ aw…..”
“4 star?”
“Naw alternative fuel – succulent lamb and finest red wine.”
“How’d you get the MOT on it if it’s so bent?”
“Dawdle Chaz, nudge and a wink tae big Donkey an’ he sees us right. Aw in the haunshake in these pairts.”
“Very patriotic paint job I see.”
“Aye – red, white and blue. Big Davie did a braw joab. Redid the inside, used tae be loads mare orange. Changed the number plate frae FTP 1690 tae EBT SDM. Pure dead classy. See the braw wee bear hingin’ frae its neck frae the mirror?”
“Hillman Avenger?”
“Aye, dinae see monay oh them nooadays. Oh, an’ talking o’ Avengers, he tried tae get that burd frae that TV show in the back o’ it wan time. Didnae go fur the flute music blaring out the windaes. Thought the beat o’ the Lambeg drum would get her goin’.”
“That tax disks looks a bit dodgy. Been at the clipart again?”
“Och, Hector’s oan ma case aboot it……gieing us grief the greetin’ faced get”.
“Penalty points?”
“Oan appeal. But got third party fire and theft oan it. Mibee torch it. Big Davie didnae want me tae break it fur spares. Loadsa memories.”
“Torch it! A vintage Avenger! What if your caught red-handed?”
“Aye, suppose so Chaz. That widnae dae. The wee bear an’ his pals might come get me an’ gie me a doin’.”
“Tell you what Craigy, lets do a deal. I’ll take it off your hands for 2 pounds. I’ll get some chums to loan us some cash to do it up”, after all it is a vintage Avenger. You can then get to drive in it occasionally.”
“Brilliant. A birl in it wid be braw. Big Donkey will see ye right oan the MOT. Just dinae take it tae Europe. These Krauts and Frogs will be all ovr ye.”
My dear,dear,dear,friend.. Miki67@ 14.12
Dited: Past Tense of the Verb… Tae Dite..
as in … giein an object…a wee.. “Lick and a Promise”.. rather than
a proper cleansing.
The Above… is according tae .. collie..
Hope this helps.
Kojo
Still, Laughin’
gordon smith’s rep, jonathan hope has been involved in sports pro media’s attempts to buy QoS (twice) Raith Rovers and St Mirren (All this activity took place in Feb – Apr 2012)
So the SPL have just received the paperwork from the member club that they have been telling the rest of Scotland that they have been investigating for 3 MONTHS!!! Doncaster must surely resign now, how on earth have they been investigating anything without the appropriate documentation. That man is a snivelling weasel!!!
Should the double contracts investigation go against RFC(IA), and it should, I reckon they will be relegated into SFL First Division as a punishment. (Dunfermline will get back into the SPL) They will also be stripped of titles and cups eventually. I think all concerned (SPL/SFA/RFCia) will see this as a fitting compromised punishment.
I totally object if this is the way it plays out and generally want them to die.
Miki67,
Doited (or doitit) is an old Scots word for SILLY.
Onn the Wee Frees:
Don’t they object to fornication on the grounds that it might lead to dancing?
reilly1926 on 31 May, 2012 at 14:21 said: …
Dundee would replace Dunfermline in the SPL if Rangers go down.
The Pars have already been relegated.
Miki67..
Asked the Meaning o’
DITED…
No..
DOITED.
Paul67
A little off topic i know,,but do you have any updates on the Celtic Triangle development???
Hail hail
reilly1926,
Don’t forget that the SPL investigation into whether payments were made outside lodged contracts has only reached the investigation stage. The meeting on 18 June can only decide that a hearing should be called. That would take a while and if found guilty there would be a right of appeal to the SFA.
Rangers FC PLC ((in administration) will have ceased to exist before all of that can happen.
Uefa / Fifa will be well aware of the public disorder issue if…..the huns were liquidated imo.
In almost five decades of supporting Celtic and, living in Scotland/hunland amongst the orcs, I have been conditioned to accept that, NO RULE’S apply to the huns!
The huns have got friends in high places.
One example of this is, Hugh Dallas.
Why wasn’t Dallas sacked by the SFA ?
Do Uefa / Fifa, know what Dallas did ?
If they do…then why is he still employed by them ?
Barcabhoy’s latest revelations of the, jiggery-pockery last season
is another example of, the secret handshake influence again.
Any club who’s fans can…riot – wreck – befoul – intimidate a city like Manchester in 2008 and, walk away from all responsibility well, I’m convinced that NO RULE’S apply to them.
Do we honestly believe that Duff & Duffer are stupid enough ( keep quiet at the back) to give the SFA the actual double contracts?
Surely they have proved themselves to be wholly untrustworthy and anything they say and do from now on should be questioned.
As I posted yesterday D&D have had a shedding company at Ibrokes since march and from then to now have probably removed any damming evidence/documents that could be of use.
Personally I have been amazed that HMRC have not come forward before now and demanded the removal of D&D but instead have kept tight lipped and allowed D&D to basically ‘steal’ £5.5M pound from the creditors of RiA.
This whole thing has been a farce from the very beginning and as many have stated could have been resolved long ago if the correct people had been appointed.
Don’t get me wrong I do like to see them suffer but this is starting to get so confusing that I have a sickening feeling that they may just get away without being too damaged.
I picked a bad week to give up drinking!
HH
/Bishop B
Sorry for going off topic bhoys
but need a wee bit of Tourist Info
for dear old Glasgae Toon
My eldest,23, has decided to take himself and his girlfriend to your fine city for the long weekend
As I dont know the town too well I told him I would ask on here as you ghuys and ghals will have the inside track
Any info on eateries, esp Indian,
pubs, clubs and general craic would be greatly appreciated
He has had a w’end in Edinburgh
but I did mention Glasgow might
be more craic
Im going to be offline most of the day but knowing this place a big Thank You in advance is definitely called for
quonno on 31 May, 2012 at 13:41 said:
That’s ok. The adminstrtaors can sign any players they like but not Rangers.
Crazy intit?
Kojo on 31 May, 2012 at 14:21 said:
>>>
mercy buckets
: ))
DITED is a corruption of the Scots word DOITED, a word beloved of Jeely Eaters in particular.
Clink, he won’ty go far wrong for bars, clubs in the Merchant city that is also the location of my favorite indian called the dhabba
deliasmith – 14:28
“Don’t they object to fornication on the grounds that it might lead to dancing?”
No, think it’s cause Jesus objected to it.
KevJungle – “1st Flag on the JUNGLE roof for LENNON’S LION’S” on 31 May, 2012 at 14:32 said:
>>>
Well…in the case of such major civil disorder then the army can be called in….but we all know what THAT leads to….
….but,hold on,isn’t THAT exactly what the Kilwinning tendency are prayin’ for?
Scum F.C. Should come with a govt. health warning.
Kilbowie Kelt on 31 May, 2012 at 14:30 said:
reilly1926 on 31 May, 2012 at 14:21 said: …
Dundee would replace Dunfermline in the SPL if Rangers go down.
The Pars have already been relegated.
===============
If RFC(IA) are deducted 3 points for every game they played Papac and Davis in then they would be the team that should have been relegated surely. (Haven’t looked at the points involved so I might be wrong)
Some dates for the diary
June 14th—–CVA Creditors Meeting
June 15th——Rangers audited accounts due.
June 18th——SPL board meeting (EBT )
June 18th——SPL fixtures announced
June 19th—–CHAOS
Afternoon all. Enjoying the variety of subjects being debated today. Fortunate enough to be spending Liz’s big party weekend in Co. Kilkenny, where I trust the celebrations will be lower key than in the north of the island and the mainland (are you allowed to say mainland without offending anyone?)
Anyhoo, quick update about Kibera Celtic
Still standing 17th in the league out of 20. Decent run of draws recently, so hopefully the tide is turning.
This week the game is tomorrow v Bandari (currently in 4th place in the league) at 9am Nairobi time. Tough game.
You can follow results at http://www.futaa.com/football/kenya/division-one-zone-a/2012 as well as read some local media reports about the club.
I’m reasonably sure that after his visit there last week, Victor Wanyama’s old coach has been asked to contribute to the coaching efforts at the club. This will be a huge boost for the guys. Looks like Victor enjoyed his time there, and the guys were over the moon to see him. Pictures on facebook and http://www.celticfc.net.
Cheers
G67
oh and if you want to donate, http://www.everyclick.com/kiberaceltic
KevJungle – “1st Flag on the JUNGLE roof for LENNON’S LION’S” on 31 May, 2012 at 14:32 said:
_____________________________
Exactly!
As I said…EVERYTHING has to go their way or….
miki67 on 31 May, 2012 at 14:43 said:
______________________
Exactly!
As i said….EVERYTHING has to go their way or…
Scotsman saying Sol Bamba to Trabzonspor – fee circa 1 million euro. I always thought he was a good player at Hibs – and he has racked up a good number of caps for the Cote d’Ivoire national team. Just the sort of player who could do well at Celtic I thought.
Indian – Mr Singh’s / Shish Mahal. Singh’s is in charing cross and Shish in Park road – west end
Pub – take your pick there are so many, Merchant city and Waterloo St
Club – IMO, best club in UK – Arches, also sub club or Bunker is open late
HH
They’re just like a sociopathic gangster’s psychotic child wielding a machete and screaming,”I want it all,and I want it now!!!….Gies it or yer AW deid!….tell them da!!! Tell theeeemmm!!”
Further to Gincher67 ‘s post,
Kibera Celtic merchandise can be found here:
http://rhebelrhebel.spreadshirt.co.uk/kibera-celtic-C193096
All profits to the Kibera Celtic foundation – I have bought some, and it’s good gear.
Offski.
May God Bless Paul 67 and ‘Every’ CQNer
Hail Hail
Sixteen Roads,
Meant to reply to you yesterday, but Mrs IC keeps saying I’m spending to much time on CQN: will try for later today – after all, it’s time that WWII was beaten to death.
Mother India’s Restaurant or Café oppo the Kelvingrove Art Gallery ? Mmmm…
collie, who is sitting right beside me.. the noo… Tells me ,this.. and collie.. Knows Scot’s Laland, very weel
Many a Time, HIs Mammy wid .. Berate Him, fur hivin a Dirty Face.. and she wid say..
“Gie Yer Face a Proper Waash… No jist a Wee ..
“DITE”!
My missus thinks I’ve swapped one addiction for another. Quit the fags…..spend hours on here! Go figure…..HH!
Ah’mLovin’It csc
:-))
Barcabhoy
Celtic Mac
I believe Papac signed a new contract for 1 year at the end of last season. From memory, I recall on the RTC blog is was claimed he was the last of the EBT recipients. Perhaps his new contract was sans EBT contributions.
Davis also signed a new contract shortly after Whyte took over – a 5 year one I recall. Again, perhaps the EBT element was not in the new contract.
Indeed the suspicion around the players who signed new extended and lucrative contracts when Whyte took over was – were they paid by RIA or by Rangers Group. And if by Group (Wavetower), does this breach third party ownership rules?
Did Davis, McGregor, Whittaker, Naismith all sign new long contracts to remove them from the EBT scheme?
So I guess in summary it is not clear cut that the EBT scheme was still operational during 2011/12 but given players still at the club have been revealed as beneficiaries, it is a reasonable question of the other clubs to ask.
HH
TLK
And I’ve got ye olde iPad set on ‘stun’ for when the 2012/13 fixtures come out,too!