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Round two in Court today!


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3VB leads Collyer Bristow defence in case bought by Rangers FC administrators

16 April 2012 | By Sam Chadderton

Three Verulam Buildings (3VB) will today ’vigorously contest’ claims of professional negligence on behalf of Collyer Bristow’s role in the Rangers FC administration.

The firm has instructed Clyde & Co partner Richard Harrison and senior associate Nicole McKinnon to fight the action brought by the club’s administrators, Duff & Phelps partners Paul Clark and David Whitehouse.

Clydes has called on 3VB counsel Cyril Kinsky QC and Matthew Hardwick, who will go up against South Square Chambers’ Mark Phillips QC and Mark Bayfield at the High Court this morning. The latter two were instructed by Taylor Wessing restructuring partner Nick Moser.

The Lawyer understands that Collyer Bristow does not contest any claim to the £3.6m of client money that was transferred out of the firm and into Taylor Wessing for safekeeping last month. There is a dispute about who can access the money between the UK tax authorities, a pension fund and Duff & Phelps, which are all claiming a share.

Proceedings were adjourned last month so that wider claims against Collyer Bristow could be brought. The details of these claims will be revealed in court today but are believed to be substantially larger claims relating to alleged professional negligence and breach of fiduciary duty.

Collyer Bristow business development director Paul Newhall said the firm will “robustly defend” any further claims.

Former Collyer Bristow partner Gary Withey last week distanced himself from the ongoing legal action and told The Lawyer he would not be appearing in court today.

The London-based firm advised businessman Craig Whyte in the takeover of the historic Scottish club. Withey was named as Rangers secretary following Whyte’s £1 buyout.

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Both sides bringing in some serious heavy hitters. Mark Phillips is already battling HMRC on behalf of the football league.

Collyer Bristow seem more worried about their reputation than about cash..... be interesting to see how it all plays out.

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All fake somehow, administrators are aiming to destroy us after all.

I will be interested to see who is preferred bidder. if its tbk I will be highly suspicious that these recent delays are just part of duff and Phelps very public war with tbk.

no other bidder has been as publicly scrutinised by duff and Phelps.

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I will be interested to see who is preferred bidder. if its tbk I will be highly suspicious that these recent delays are just part of duff and Phelps very public war with tbk.

no other bidder has been as publicly scrutinised by duff and Phelps.

:lol: slightly OTT in your rhetoric aboove - war? :lol: - RST bumping their gums demanding this and that; and D&P basically telling them to reign their necks in is hardly a war.

Stop distrusting the proffesionals and let them get on with their job - the OP article shows to some degree the difficulties the administrators are having in putting together a clear picture so that any CVA or offer can be robust enough to last!

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I will be interested to see who is preferred bidder. if its tbk I will be highly suspicious that these recent delays are just part of duff and Phelps very public war with tbk.

no other bidder has been as publicly scrutinised by duff and Phelps.

Now I know you're having a laff.

The TBK's chose the public battleground, using every mouthpiece they could find to push their bid and decry the others.

To complain about the admins answering their public queries in public is funny as fuck :lol:

TBK's manipulation goes on, but most aren't buying it.

If they want to win that much, put in the best bid. Simples.

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I will be interested to see who is preferred bidder. if its tbk I will be highly suspicious that these recent delays are just part of duff and Phelps very public war with tbk.

no other bidder has been as publicly scrutinised by duff and Phelps.

Public war? No other bidder scrutinized?

If TBK were serious about being preferred bidder then maybe they should do the simple stuff like get their sums correct, they have no one to blame but themselves if they are not in pole position.

If a serious bidder were to submit figures which were wrong then would you not scrutinize it? Some people just want to see TBK do well so if anything negative surrounds them and their bid it’s all D&P fault…

Murray had his plan a year ago supposedly so his figures and plan should be at a far more advanced stage than the others but as we have seen he has had to include Ticketus for funding and seems to be getting confused with his own projections. We should also blame D&P for this!

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Public war? No other bidder scrutinized?

If TBK were serious about being preferred bidder then maybe they should do the simple stuff like get their sums correct, they have no one to blame but themselves if they are not in pole position.

If a serious bidder were to submit figures which were wrong then would you not scrutinize it? Some people just want to see TBK do well so if anything negative surrounds them and their bid it's all D&P fault…

Murray had his plan a year ago supposedly so his figures and plan should be at a far more advanced stage than the others but as we have seen he has had to include Ticketus for funding and seems to be getting confused with his own projections. We should also blame D&P for this!

Agree with the above. Maybe if mini hadn't been making public statements regarding the administrators need to do this and that, then they would not answer points raised by him.

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:lol: slightly OTT in your rhetoric aboove - war? :lol: - RST bumping their gums demanding this and that; and D&P basically telling them to reign their necks in is hardly a war.

Stop distrusting the proffesionals and let them get on with their job - the OP article shows to some degree the difficulties the administrators are having in putting together a clear picture so that any CVA or offer can be robust enough to last!

would you pay 500k for two weeks of duff and Phelps promises. I wouldn't.

as for the war by d & p its much more than you suggest but war is a stretch of course.

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would you pay 500k for two weeks of duff and Phelps promises. I wouldn't.

as for the war by d & p its much more than you suggest but war is a stretch of course.

Oh well, if TBK are beaten by that hurdle then they were never really serious.

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would you pay 500k for two weeks of duff and Phelps promises. I wouldn't.

as for the war by d & p its much more than you suggest but war is a stretch of course.

I am confused to the use of the word promises!! please explain in the context of you statement?

And another thing it would be a legal contract signed as to period of exclusivity . Do you honestly believe that they pocket that money?

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Public war? No other bidder scrutinized?

If TBK were serious about being preferred bidder then maybe they should do the simple stuff like get their sums correct, they have no one to blame but themselves if they are not in pole position.

If a serious bidder were to submit figures which were wrong then would you not scrutinize it? Some people just want to see TBK do well so if anything negative surrounds them and their bid it’s all D&P fault…

Murray had his plan a year ago supposedly so his figures and plan should be at a far more advanced stage than the others but as we have seen he has had to include Ticketus for funding and seems to be getting confused with his own projections. We should also blame D&P for this!

I said "as publicly scrutinised"

a statement I wholly believe to be accurate.

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I am confused to the use of the word promises!! please explain in the context of you statement?

And another thing it would be a legal contract signed as to period of exclusivity . Do you honestly believe that they pocket that money?

an example would be whyte is irrelevant.

can they make good on that statement in two weeks for 500k.

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No room for him uk.gif I believe he is md uk.gif And I am big enough for getting into a room let alone with GS/md smile.gifwink.gif

I'm not md. I can prove it anytime your in Glasgow mate. I've met a good few members on here including almost all the admins.

we can go for a pint anytime I owe you one for helping me perfect my risotto.

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would you pay 500k for two weeks of duff and Phelps promises. I wouldn't.

as for the war by d & p its much more than you suggest but war is a stretch of course.

If the £500k was for only two weeks, it would be the first of their own deadlines that they kept to. :D

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The 500k has no relevance to your point of view. It is really worrying that 500k in a £20m deal is causing such a fuss.

its a lot of money just to find out whyte won't sell to you and all you've done is moved us 2 weeks closer to oblivion.

its a lot of trust to put in a administrator that talks a lot and delivers little.

but we are talking like we know tbk are preffered bidder and we don't. let's see what this week brings.

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