In defence of D & P

[Guardian 4,281]

They covered themselves in the way they worded it..............planting the thought. Why did they not show on the program the written response sent by the administrators vetted by their(admins) legal team, pointing out the due to a case in court they could not give the bbc what they wanted.

A trick by daly knowing full well the court case would prevent them appearing...............re slanderous , things can be said that makes one believe that, but(yip) a subtle word added at the right place lessens if not removes that accusation.

I mean come on the farce of the so called phone call, not even a script writer for River City would come up with shit as bad as that.

Exactly what I was thinking.

Daly set them up by asking them to appear when he knew they couldn't.

A lot of folk are judging them by their ability to get a CVA.

We should remember they started off down a massive hole from which it may not be possible to get a CVA exit.

Some talk about CVA's as if they were a formality.

[don logan 8,132]

There is a clear and massive conflict of interest here. The evidence last night strongly suggests that Grier was fully aware of the Ticketus money being used to purchase the club. Remember, when first approached, he lied and said he first knew of the arrangement in August. Then quickly back tracked when presented with the irrefutable evidence. So is it really a stretch to think he is lying again with his revised version of events? So, due to the fact the he was complicit in the deal that helped bring us crashing to the ground, Duff and Phelps should be nowhere near us. It stinks.

[RFC55 110,550]

There is a clear and massive conflict of interest here. The evidence last night strongly suggests that Grier was fully aware of the Ticketus money being used to purchase the club. Remember, when first approached, he lied and said he first knew of the arrangement in August. Then quickly back tracked when presented with the irrefutable evidence. So is it really a stretch to think he is lying again with his revised version of events? So, due to the fact the he was complicit in the deal that helped bring us crashing to the ground, Duff and Phelps should be nowhere near us. It stinks.

Griers company was not part of D+P at the time!

[Edmiston Drive 3,846]

Exactly what I was thinking.

Daly set them up by asking them to appear when he knew they couldn't.

A lot of folk are judging them by their ability to get a CVA.

We should remember they started off down a massive hole from which it may not be possible to get a CVA exit.

Some talk about CVA's as if they were a formality.

Agree not as if they have been sitting on their ass ..HMRC would be kept up to date re state of play what the bids are and would that work for them HMRC that is also they have obviously been looking at Ticketus and took them to court , this is probably one of the reasons they never gave mini the nod.when he was creating a £10m payout to Ticketus and people like HMRC would ask for the pence in the £ equivalent to Ticketus deal if that proved a better deal.

Now ticketus will get less in a cva. As you say if the cva was as simple to achieve ...........companies would not require to enter admin, just say to their debtors here ..we will give you 10p for every £ we owe you ...and thanks very much.

[Sweeney 241]

People need to remember that despite how the BBC paints the picture, Ticketus loans are not illegal and not uncommon. The administrators statement seems bang on to me, in that there is a vast difference in knowing about "a" Ticketus deal and knowing about "the" Ticketus deal.

The BBC produced no evidence to show that the administrators knew how much was involved, how long it was over or that it was being used to buy the club. All they have detailed is the fact that D&P knew about a type of loan widely used by football clubs up and down the country on a regular basis to provide a small cash injection.

[Bad Robot 21,513]

unfortunatelly daly has a captive audience, ourselves on one side with a lot of anxiety over the situation our club is in and on the other side we have a mix of sectarianism, jealousy and outright hatred for our club and everything we stand for.

[californiadreamin52 339]

Herald to-day

Insolvency expert David Grier rebutted allegations in a BBC documentary screened last night that he knew of the deal in April 2011 and had helped disgraced owner Craig Whyte set it up to buy the club.

Whyte completed the takeover of Rangers on May 6, 2011, but was widely criticised after it was revealed he had used Ticketus to pay for the deal by selling off most of the next three years' worth of season tickets.

Emails featured in Rangers: The Men Who Sold the Jerseys from Whyte's lawyer to Mr Grier purportedly outlined how the "Ticketus agreements will become unconditional" once control was gained over the club.

The documentary also claimed former Rangers owner Sir David Murray was the largest beneficiary of a controversial tax avoidance scheme, with an untaxed £6.3 million paid into an Employee Benefit Trust set up by the Glasgow club.

Speaking from New York, Mr Grier told The Herald: "There is no conflict of interest. My first involvement with Ticketus was in May during the settlement of the Murray Group's position with regards to Rangers. Ticketus was designated as a funding source which was already being used by the Murray Group, and its use as a way of raising capital was discussed. I had no knowledge it was going to be used as a source to fund the acquisition."

Mr Grier said the administrators' decision to launch legal action to stop Ticketus from claiming its rights to revenue from season tickets in March proved he had no prior involvement with the company. He said: "If that was the case, why would we have taken Ticketus to court? It would have been the easiest thing in the world for their lawyer to have it stopped because I had worked with them to secure season ticket rights."

The Ticketus deal, if it stands, would make Rangers a much less attractive proposition to any potential buyer, since more than half of the club's income stream for the next three years will have dried up.

Whyte called in administrators on February 14 after running up debts to HMRC of up to £15 million. His choice of administrators, Duff & Phelps, was appointed with court approval.

Mr Grier was pictured at Whyte's side in the days leading up to the takeover.

But he revealed last night that concerns had been raised over some of the legal documents prepared by Whyte's team, saying they looked like they had been "written by a lawyer on his way home on the tube on a Friday night".

He said he had tried to explain his position to the BBC, but that "minds had already been made up".

Paul Clark, joint administrator, also spoke out to defend his role at Rangers.

He said: "The allegations made in the programme against Duff & Phelps are untrue, a distortion of the facts and defamatory.

"Discussions are already underway with our solicitors with a view to bringing legal proceedings against the BBC. We made a number of offers to assist the BBC in order it would not make the fundamental errors broadcast this evening and for some inexplicable reason the reporter Mark Daly declined these.

"We had also hoped to give interviews stating our case on camera but received strong legal advice against this course of action, bearing in mind the legal proceedings Duff & Phelps have raised against Collyer Bristow. The BBC was informed in writing from our solicitors. We did, however, provide the BBC with lengthy written statements stating our position and we are publishing these on the Rangers website."

He added the BBC journalist involved in the investigation "failed to understand the difference between working capital arrangements for the club and acquisition funding".

Former Rangers director Paul Murray, who led the failed Blue Knights bid last night said: "There are serious allegations which have to be answered. Why was one of the big four insolvency firms not appointed? Why was Craig Whyte so desperate to get Duff and Phelps appointed?"

Just hope they can take the BBC all the way throught the courts

[Non_Sucumbi 876]

Duff & Phelps are threatening to sue the BBC.

How did wee Shyte get on with his various law suits ???? Did he take anyone to court.

If David Grier of D&P knew about the Ticketus arrangement then as alleged there would have been a conflict of interest.

D&P's role in all of this and there tenuous connection to Whyte needs to be investigated.

[californiadreamin52 339]

To-days Scotsman

Is this the nub of the matter?

Grier, the man at the centre of the allegations, said: “I categorically deny that at the time of the Craig Whyte takeover of Rangers, I had any knowledge that funds from Ticketus were being used to acquire the club. This accusation is wrong, highly defamatory and betrays a lack of understanding of the facts.

“Neither I nor any of my colleagues at MCR provided any professional assistance to Liberty, Wavetower or Craig Whyte, in raising funds, performing financial due diligence, structuring or agreeing the terms of the purchase of the club from the Murray Group.

“Financial due diligence and other work was provided by Saffery Champness, a firm of chartered accountants who specialise in this area and our primary role was to provide assistance to Liberty Capital in negotiating a settlement and assignment of the debt due to Lloyds Bank.

“The reality is that, when my concerns about the use of Ticketus funding crystallised over the summer of 2011, I took immediate steps to raise these concerns with controlling directors of Rangers and HMRC.

“The email referred to in tonight’s programme to Ticketus dated 19 April 2011 mentions the possibility of raising funds for working capital but does not provide any information of quantum or terms of such a proposal. To suggest this email establishes an awareness of Ticketus providing acquisition funding is absurd and ridiculous.

“Once we discovered the full extent of the funding relationship between Ticketus, Liberty Capital and the club, we took immediate steps to raise our concern with controlling directors of Rangers and HMRC.”

[MrT 173]

So much illinformed crap flying about I thought I would try to put some structure on it and as I looked at the structure I realised D&P need some defending done on their behalf.

1. Administrators are appointed by and report to the court - this is not some dodgy dealing but a legal process with well defined rules, expectation of conduct and parameters within which to work.

2. The Administrators are appointed as individuals - even though they are are under the umbrella of a corporation because they are personally held responsible for their conduct and any losses they incurr. This is why they talk about the individuals as Joint Administrators.

3. They may not be associated with one of the UK top 4 BUT they are in one of the worlds biggest administration firms.

4. It is NOT unusual for a company such as D&P to be involved in the funding structures of the company and giving the company financial advice before being appointed to be administrators.

(Side note - and if they wanted a purely financial result to this they would not have worked so hard to get a deal with the players)

BUT

The biggest defence of the conduct of D&P is you, me, the great unwashed and the press.............

This administration is pretty complex compared to most because of the financial chicanery that has gone on - aligned with the time pressures of being a football club that wants this sorted for next season..... and against that backdrop of compllexity we have every Rangers fan, every Celtic fan, half of the other fans of other teams, every competitive insolvency practitioner and every journalist looking for a story watching every singe develpment and nuance of what D&P do.

If the allegations from last night are the best that this scrutiny has uncovered then D&P are doing a decent job. They know they can and will get away with nothing - anything the Rangers fans would let slide the great unwashed would pick up - D&P have no choice in law but to play with a straight bat BUT working in public under the intense scruitiny that are is the biggest safeguard we have as to their conduct.

CW was given the right to appoint his own administrators!

[The Godfather 73,053]

CW was given the right to appoint his own administrators!

The court approved of D&P.

[chris182 6,372]

I can't see why the BBC lawyers would allow such slanderous allegations to be made on a professional body with very robust facts!

The Admins reply explains why there was no conflict of interest. There is a significant difference between working capital and acquisition capital. Daly wad relying on the viewing audience not knowing the difference.

[ace1 49]

The court approved of D&P.

Twice, if you'll remember, due to the paperwork issue a few weeks in & AFTER it was already made common knowledge on 14th Feb of Grier's previous work with CW. Obviously no-one, including the courts, had an issue with it then, but some on here do after a crappy BBC docu-soap

[RFC55 110,550]

CW was given the right to appoint his own administrators!

Not the judge nor HMRC have a problem with D+P being here!

[gunslinger 270]

So much illinformed crap flying about I thought I would try to put some structure on it and as I looked at the structure I realised D&P need some defending done on their behalf.

1. Administrators are appointed by and report to the court - this is not some dodgy dealing but a legal process with well defined rules, expectation of conduct and parameters within which to work.

2. The Administrators are appointed as individuals - even though they are are under the umbrella of a corporation because they are personally held responsible for their conduct and any losses they incurr. This is why they talk about the individuals as Joint Administrators.

3. They may not be associated with one of the UK top 4 BUT they are in one of the worlds biggest administration firms.

4. It is NOT unusual for a company such as D&P to be involved in the funding structures of the company and giving the company financial advice before being appointed to be administrators.

(Side note - and if they wanted a purely financial result to this they would not have worked so hard to get a deal with the players)

BUT

The biggest defence of the conduct of D&P is you, me, the great unwashed and the press.............

This administration is pretty complex compared to most because of the financial chicanery that has gone on - aligned with the time pressures of being a football club that wants this sorted for next season..... and against that backdrop of compllexity we have every Rangers fan, every Celtic fan, half of the other fans of other teams, every competitive insolvency practitioner and every journalist looking for a story watching every singe develpment and nuance of what D&P do.

If the allegations from last night are the best that this scrutiny has uncovered then D&P are doing a decent job. They know they can and will get away with nothing - anything the Rangers fans would let slide the great unwashed would pick up - D&P have no choice in law but to play with a straight bat BUT working in public under the intense scruitiny that are is the biggest safeguard we have as to their conduct.

they are involved in a serious conflict of interest and should have ruled themselves out of this. they will be lucky to still be in jobs by the end of this week.

[gunslinger 270]

Griers company was not part of D+P at the time!

Clark and Whitehouse worked with grier.

[gunslinger 270]

this is simple just ask yourself if Clark and Whitehouse find evidence of wrongdoing by grier can we trust them to do the right thing.

the answers no and as such they should not be our administrators.

[boss 1,941]

I can't see why the BBC lawyers would allow such slanderous allegations to be made on a professional body with very robust facts!

Haha, I laughed. Which "very robust facts" were those? Perhaps enough to convince those who wanted to be convinced, but certainly no facts which prove impropriety.

[The Godfather 73,053]

they are involved in a serious conflict of interest and should have ruled themselves out of this. they will be lucky to still be in jobs by the end of this week.

The courts do not have a problem with them only those like yourself….which is not going to put them out the job they were “Appointed to do by the courts”.

[ace1 49]

they are involved in a serious conflict of interest and should have ruled themselves out of this. they will be lucky to still be in jobs by the end of this week.

Again, you make a broad sweeping statement, and again you do so without one shred of ACTUAL PROOF to back this up!

Here's one for you, BBC Daly (your gay lover whom you are believing 100%) claimed to of interviewed Gary Whithey on last night's program. Yet news shows on BBC, D+P, newspapers etc.. have all said that Gary Whithey did a runner from Collyer Bristow & could not be found!! And this has still been the case for months!

[boss 1,941]

Clark and Whitehouse worked with grier.

There's no question that D&P's acceptance of the assignment was not as straightforward as some appointments (this was confirmed to me by an insolvency contact at the time) but that's a world away from them necessarily over-stepping the line, for which there has simply been no proof yet provided.

[RFC55 110,550]

The courts do not have a problem with them only those like yourself….which is not going to put them out the job they were “Appointed to do by the courts”.

Listen mate we both know he wouldn't be slabbering away if TBK had won the race for Rangers!

1 million pound to the creditors if we reach the qf of the CL

[eosmhdo 1,879]

What puzzle me about the show was that they seemed to go after anyone else they could and not really Craig Whyte as such.

Not as damning of him as they were of others.

I am watching it wrong or anyone else notice that?

[ace1 49]

this is simple just ask yourself if Clark and Whitehouse find evidence of wrongdoing by grier can we trust them to do the right thing.

the answers no and as such they should not be our administrators.

There's another one!

In your opinion maybe, but you have NO PROOF of this!

In actual fact, you also keep claiming they're CW's admin team & working for him (again without proof of this conspiracy), yet they TAKE HIM TO COURT (on behalf of RFC) FOR £25mill!! Kinda contradicts your theory doesn't it?

[gunslinger 270]

Again, you make a broad sweeping statement, and again you do so without one shred of ACTUAL PROOF to back this up!

Here's one for you, BBC Daly (your gay lover whom you are believing 100%) claimed to of interviewed Gary Whithey on last night's program. Yet news shows on BBC, D+P, newspapers etc.. have all said that Gary Whithey did a runner from Collyer Bristow & could not be found!! And this has still been the case for months!

the conflict of interest is there no question about it.