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Rangers was sold direct to Sevco Scotland, not via Sevco 5088


boss

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Any proposal such as the CVA proposal is in law what is called an "invitation to treat". An offer to buy a house, anything.

But when you pay a sum of £250k for exclusivity, that legally entitles you to extra rights.

When you sign to buy a house from plot and pay a deposit, you and the seller have protection from the cancellation of this contract. Plenty of folk have been hugely impacted, some ruined by that.

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But when you pay a sum of £250k for exclusivity, that legally entitles you to extra rights.

When you sign to buy a house from plot and pay a deposit, you and the seller have protection from the cancellation of this contract. Plenty of folk have been hugely impacted, some ruined by that.

No, it protects you from being gazumped, except in Scotland, where deposits are not required.

But in Company Law, exclusivity just means no deal will be discussed with any other party. The vehicle used to actual transact can be anything the buying & selling parties agree on.

Green took off his Sevco 5088 hat, and put on his brand new Sevco Scotland hat.

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No, it protects you from being gazumped, except in Scotland, where deposits are not required.

But in Company Law, exclusivity just means no deal will be discussed with any other party. The vehicle used to actual transact can be anything the buying & selling parties agree on.

Green took off his Sevco 5088 hat, and put on his brand new Sevco Scotland hat.

Not according to this mate:-

http://www.darlingtons.com/blog/?p=369

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No, it protects you from being gazumped, except in Scotland, where deposits are not required.

But in Company Law, exclusivity just means no deal will be discussed with any other party. The vehicle used to actual transact can be anything the buying & selling parties agree on.

Green took off his Sevco 5088 hat, and put on his brand new Sevco Scotland hat.

Sorry, just got what you mean.

Yes, this would be correct if the exclusivity contract was taken out in Greens name. But if it was taken out in SevCo 5088's name then obviously it requires full authorisation before the assets can be passed to an unlinked company.

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Sorry, just got what you mean.

Yes, this would be correct if the exclusivity contract was taken out in Greens name. But if it was taken out in SevCo 5088's name then obviously it requires full authorisation before the assets can be passed to an unlinked company.

I've never seen an exclusivity agreement without pretty clear termination clauses.

They are not the end game in respect to acquisitions, and can easily be removed given the correct legal language.

WATP

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I've never seen an exclusivity agreement without pretty clear termination clauses.

They are not the end game in respect to acquisitions, and can easily be removed given the correct legal language.

WATP

That may very well be the case, but the question has to be asked. Was the exclusivity agreement ripped up or amended.

I doubt Whyte has a case here, but we need answers to questions. We can argue one way or the other until we are blue in the face, until we get some honesty and facts, we are running blind.

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Sorry, just got what you mean.

Yes, this would be correct if the exclusivity contract was taken out in Greens name. But if it was taken out in SevCo 5088's name then obviously it requires full authorisation before the assets can be passed to an unlinked company.

Not if Green was the only director at the time.

Which he was.

And as it was only an offer; a proposal, not an actual contract, it was never put into force; never enacted. But instead replaced with the one reported on by D&p.

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I've never seen an exclusivity agreement without pretty clear termination clauses.

They are not the end game in respect to acquisitions, and can easily be removed given the correct legal language.

WATP

Unless you are Walter Smith

I amn't genned up on the laws but this exclusivity payment secured Sevco 5088 a safety net for the inevitable CVA knockback. It was this agreement that meant Walter's bid was knocked back, despite being of more value to the creditors!

The agreement couldn't have been so watertight though that it could prevent Green from saying, hang on a minute, I want to change the company name while I'm at it. There were silent partners though it seems and we need to know if that has a lasting effect.

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Unless you are Walter Smith

I amn't genned up on the laws but this exclusivity payment secured Sevco 5088 a safety net for the inevitable CVA knockback. It was this agreement that meant Walter's bid was knocked back, despite being of more value to the creditors!

The agreement couldn't have been so watertight though that it could prevent Green from saying, hang on a minute, I want to change the company name while I'm at it. There were silent partners though it seems and we need to know if that has a lasting effect.

Any contract can be changed by mutual agreement between the parties, so if Duff & Phelps and Sevco 5088 are happy for it to be sold to Sevco Scotland, that can happen, regardless of what the contract says.

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