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Big Rangers Administration/Liquidation Thread - All chat here!


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RANGERS STATEMENT

(Issued on behalf of Duff and Phelps)

“As we have previously stated, Duff & Phelps maintains that our conduct of the Rangers Administration was carried out to the highest professional standards. We do not respond to information that is taken out of context, as we believe is the case in the BBC story. We welcome the opportunity to review a complete copy of the information that the BBC references in its story.” – Marty Dauer, Duff and Phelps spokesperson.

^^^^^^^^^^^^^^ bricking it :)

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1351113005[/url]' post='6744041']

RANGERS STATEMENT

(Issued on behalf of Duff and Phelps)

"As we have previously stated, Duff & Phelps maintains that our conduct of the Rangers Administration was carried out to the highest professional standards. We do not respond to information that is taken out of context, as we believe is the case in the BBC story. We welcome the opportunity to review a complete copy of the information that the BBC references in its story." – Marty Dauer, Duff and Phelps spokesperson.

^^^^^^^^^^^^^^ bricking it :)

It's gone from denying knowledge of the ticketus deal to ,,,taken out of contextlaugh.gif

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Rangers Ticketus deal conversation 'was recorded'

By Mark DalyBBC Scotland Investigations Correspondent_63687762_17537db5-699c-4cac-b98d-0652b76b7f37.jpgMr Grier has said he was only aware of the Ticketus deal in August 2011Continue reading the main story

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BBC Scotland has uncovered new evidence showing Rangers administrators Duff and Phelps knew Craig Whyte had sold season tickets to buy the club.

The recording of a conversation indicates they were intent on denying it because they thought they could get away with it.

A Duff and Phelps spokesman said the words were taken "out of context".

The BBC reported Duff and Phelps partner David Grier may have known about the Ticketus deal last April.

This was before Mr Whyte's takeover.

Mr Grier denied any knowledge of the deal until August 2011.

The BBC has obtained a recording of a meeting between Mr Whyte and Mr Grier, which show Duff and Phelps did know.

Mr Whyte bought Rangers from Sir David Murray for £1 and paid an £18m debt to Lloyds Bank by selling three years of season tickets to finance firm Ticketus for £25m.

As well as being involved in Mr Whyte's takeover, Duff and Phelps were appointed as Rangers' administrators after the club plunged into insolvency in February 2012.

In May, a BBC Scotland investigation suggested that Mr Grier may have known that about the controversial Ticketus deal before the Whyte takeover was complete.

Mr Grier, and Duff and Phelps, denied the claims and said he was unaware of this particular Ticketus deal until August 2011.

Last week, in a BBC interview, Mr Whyte said that "everybody who was involved in the deal team at the time knew about" the Ticketus deal.

He added: "They (Duff and Phelps) knew everything, they attended meetings, they were copied into all the emails, they were there on the day of completion. They knew from the start."

BBC Scotland has now received a secret recording that Mr Whyte says he made at a meeting between him and Mr Grier in a private members' club in London on 31 May, after its investigation was broadcast.

The recording, which is to be used in a forthcoming court case involving Duff and Phelps and Mr Whyte's former lawyers Collyer Bristow, has been obtained legitimately by BBC Scotland.

During the exchange, Mr Grier said: "I'll tell you what we're doing with that just so you…

Mr Whyte: "Yeah.

Mr Grier: "We, we went to see counsel yesterday and had a full sort of debrief of all the email correspondence.

Mr Whyte: "Yep.

Mr Grier: "Now, the fact is that we probably did know what was going on with Ticketus. There's no email traffic whatsoever.

Mr Whyte: "That says that you did?"

Mr Grier: "That says that we did.

Mr White: "But we all know that you did and f****** hell.

Mr Grier: "Yeah, yeah. There's no…we were not involved in dealing with Ticketus directly.

Mr Whyte: "Yeah. So you knew the structures of the deal. You were dealing with Lloyds.

Mr Grier: "Absolutely.

Mr Whyte: "And the Ticketus part was Saffreys.

Mr Grier "Yeah. So we've maintained that line quite rigorously."

BBC Scotland has been able to confirm with a voice recognition expert that the recording is of Mr Grier.

Duff and Phelps spokesman Marty Dauer said: "As we have previously stated, Duff and Phelps maintains that our conduct of the Rangers administration was carried out to the highest professional standards.

"We do not respond to information that is taken out of context, as we believe is the case in the BBC story.

"We welcome the opportunity to review a complete copy of the information that the BBC references in its story."

and the hits just keep on coming ! laugh.gif

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Its amazing how thick as shit many of the people posting in that thread are. It makes the likes of bennett & No 8 look like Higgs + Hubble in comparision. Every story on the T.V. or in the tabloids that tries to objectively criticize Sevco & Deadco is about "tarnishing" the image of Zombie FC. Can't they see thats exactly the type of attitude that got them into this mess in the first place.

Feck me those wallopers shouldn't be allowed out on their own. The amazing thing is mark Daly and the BBC are taking more stick and all they have done is investigate the frigging story.

No one knows what the impact will be until Lord Hodge makes a decision but I cannot imagine D&P (whose handling of the admin process had some of the strangest decisions ever) that either of the 2 investigations will look favourably on their involvement.

But does this answer the question of why the share issue has been rushed ?

Again this puts the argument about awarding a license to play this season rather than ensuring the mess was totally finished with but then the old argument about how many Orcs would have returned. Everybody's favourite cash cow.

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So would I. For once I agree with you.biggrin.gif

But which lot are you thinking about jailing?

David Murray

John Greig

Martin Bain

Ken Olverman

John McClelland

Craig Whyte

Sandy Jardine

Walter Smith

Alex McLeish

Graeme Souness

Campbell Ogilvie.

Anyone else you would add to the "guilty until proven innocent" list? rolleyes.gif

I think it is much more widespread than a few of those names with their snouts in the trough over the decades, albeit (and maybe :) )if not illegal then certainly sailing close to the wind in regards to sporting rules, I'd love to see a full high level investigation of the Embra financial establishment nods and winks during Murray reign over Scottish football. The shit runs deep around the old Rangers club and the founding of the new entity, pretty sure we've only scraped the surface

RANGERS STATEMENT

(Issued on behalf of Duff and Phelps)

"As we have previously stated, Duff & Phelps maintains that our conduct of the Rangers Administration was carried out to the highest professional standards. We do not respond to information that is taken out of context, as we believe is the case in the BBC story. We welcome the opportunity to review a complete copy of the information that the BBC references in its story." – Marty Dauer, Duff and Phelps spokesperson.

^^^^^^^^^^^^^^ bricking it :)

Translation "We don't know what Whyte has evidence of so we'll not reply in case we're digging a deeper hole that might come up in barlinnie" Oh and we reserve the right to take the beeb to court :D

Edited by LordHawHaw
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RANGERS STATEMENT

(Issued on behalf of Duff and Phelps)

“As we have previously stated, Duff & Phelps maintains that our conduct of the Rangers Administration was carried out to the highest professional standards. We do not respond to information that is taken out of context, as we believe is the case in the BBC story. We welcome the opportunity to review a complete copy of the information that the BBC references in its story.” – Marty Dauer, Duff and Phelps spokesperson.

So by responding, they have just qualified the context the allegation should be taken in. :lol:

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Translation "We don't know what Whyte has evidence of so we'll not reply in case we're digging a deeper hole that might come up in barlinnie" Oh and we reserve the right to take the beeb to court :D

Here is the spokesman http://www.duffandphelps.com/expertise/our_team/Pages/bio.aspx?itemid=91&list=People

New York Office I see, things have gone out of the pillocks hands.................. with phone number :whistle

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Here is the spokesman http://www.duffandphelps.com/expertise/our_team/Pages/bio.aspx?itemid=91&list=People

New York Office I see, things have gone out of the pillocks hands.................. with phone number :whistle

That's it, they've opened up the can of whupass on y'all now, by getting in a "certified black belt", 6Σ as well.

For some strange reason this whole situation made me think of Flounder, from Animal House.:lol::lol::lol:

AnimalHouse21.jpg

Mind you it's getting closer to D-Day for them.

animalhouserammingspeed.jpg

Ramming speed.

Edited by kiddy
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That's it, they've opened up the can of whupass on y'all now, by getting in a "certified black belt", 6Σ as well.

For some strange reason this whole situation made me think of Flounder, from Animal House.:lol::lol::lol:

AnimalHouse21.jpg

Mind you it's getting closer to D-Day for them.

animalhouserammingspeed.jpg

Ramming speed.

Had thought ''Its over, Wormer dropped the Big One'' was apt :D

Here is the June piece where they were in denial mode about Ticketus.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-18549293

David Grier, a senior partner from Duff and Phelps, had said he was unaware until August 2011 that London finance firm Ticketus had helped fund Mr Whyte's purchase of the club.

The BBC programme broadcast emails which appeared to show that he knew a deal was under way in April, before Mr Whyte's takeover was complete.

Mr Grier has denied knowing that Ticketus were funding the purchase, and his PR team has claimed he was only aware of a much smaller arrangement of around £5m with the finance firm to fund a working capital shortfall.

He said "the false allegations made by the BBC" were now in the hands of Duff and Phelps solicitors.

Duff and Phelps issued a further statement after Lord Hodge's ruling.

David Whitehouse, joint administrator, said: "We welcome the decision by Lord Hodge today.

"Producing this report for Lord Hodge will give us an opportunity to demonstrate that the allegation of conflict of interest by the BBC was wrong and grossly irresponsible.

"We have a well-established conflict checking procedure which was fully adhered to and there was no reason for us not to accept the role as administrators.

"Since the BBC documentary we have met Mr Roger Isaacs who appeared on the programme and was asked for his professional opinion as a forensic accountant.

"Mr Isaacs informed us that he was not shown relevant documentation by the BBC and now, having reviewed the documentation, has told us that he is satisfied that our firm did not have knowledge of Ticketus funding being used to acquire Rangers in 2011, prior to the transaction being completed."

Tut tut............

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I Wonder …

I wonder when Mr Whyte started taping or recording conversations.

Does he have his discussions with Mr Green on record, for example.

If so, is there anything in such a call which could embarrass the Yorkshireman?

Who else is now thinking back to their conversations with Mr Whyte and realising why Craig insisted on having a potted plant or angle-poise lamp sitting right beside them.

Anyone meeting him now will, as per Cold War spy films, demand to meet him standing in the bathroom with the shower turned up full to drown the noise!

And if people don’t know what records Mr Whyte has, they need to be very confident to contradict him!

“Secret” taping opens up other issue, but that is for when I’m awake!

http://scotslawthoughts.wordpress.com/2012/10/24/i-wonder/

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You know what I think NUFF n HELPS have more shit by the barrow load still to come out about their conduct after Craigie spilling the beans and how much more recordings does he have :unsure:.

Firstly was the lack of terminating contracts of the highest paid players at Ibrox after the 10 point deduction which ended their title hopes.

Next was the always doomed CVA's for Whyties tenure that were put forward that did not cover what the HMRC was actually owed and most importantly that EVERY FUCKER in the planet knew it was never going to be accepted because the HMRC do not do deals but D&P favoured this route to save the club anyway ?.

Although the players took a wage cut eventually even more money could have been saved just by releasing the 7 highest earners at Ibrox ASAP before March and then could have asked the rest of the squad to take a pay cut seeing as the club was always heading into liquidation.Why keep highly paid players if the club was going to be liquidated and for what reason ?.

If Rangers could have been saved from Whyte's tenure only then why didn't someone come forward and buy the club by paying off Whyte's debts ? Was the BTC always the problem because everyone knew they would lose the appeal ? So the club again was always heading for liquidation.

Liquidation was always the end outcome for the club with the BTC so why did D&P say their main aim was to secure a buyer for the club always heading into liquidation ending the club ? then they claim to have saved the club by selling it to Chucky Cheese ! WTF ! did D&P not read the rule books from the SPL & SFA showing that the club would cease to exist as a club if it ever became in the process of being liquidated ?.

Enter Green now ! with an always doomed CVA and knew it and the money would be a loan to the club ?,secures the assets if the CVA failed which was always going to do FFS,buys the assets when it was not the highest bid put forward.Tries to bully the players into tuping over which would increase the asset value by tens of millions.

If shenanigans are afoot then has D&P tried to keep the asset value as high as possible for a future buyer that they knew would be involved at a later date ? GREEN or someone behind Green ? bearing in mind here that everyone thought they would be shoehorned into the SPL like nowt all happened at the time.

D&P have done the exact opposite of admin and actually ran up debts instead of saving as much money for the creditors ! this is possibly the only administration that has run up debts themselves whilst supposedly they should have tried to make massive spending cuts ! hotels for the players for a 40 mile journey ?

I SMELL MORE SHITE COMING !

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.... and as an add-on to hellboy's post, there were zero compulsory staff redundancies or playing redundancies made. At a business needing to save a million a month? Tell that one to the employees of JJB Sports, Clinton Cards, or the Game chain of stores.

The seemingly endless discussions at which first team players went away to mull over the options? Fcuk sake, they should never have been allowed to mull anything over. If any other administrators had been appointed, they WOULD have done their job properly. They would have assessed the gravity of the situation, looked at staffing levels, probably sat down with Ally for a bit... but then, him, him, him and him - out the door. Cuts would have been made in non playing staff too - starting with a fcuking 'club ambassador'. JobCentre Plus before the cnut's arse had hit the street.

There should have been no going back and forward, stringing things out, first team players were in no position to dictate anything to anybody. Worst/best administration ever... it was all said on here in the days and weeks following Feb 14!

We had Duff & Phelps card marked from day one... But hey, we're just internet keyboard hard men, right Jabba?

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