RFC in Court tomorrow?

[Zappa 0]

If it is, we need to worry - its a starred motion, which means its being contested in court.

 

I wonder if it could be that one of the key players in this whole shambles is contesting the appointment of Duff & Phelps or the validity of their appointment.

[caseyjones 0]

I wonder if it could be that one of the key players in this whole shambles is contesting the appointment of Duff & Phelps or the validity of their appointment.

 

Ticketus? That would work for your TB scenario.

[Guest Trains]

Ticketus? That would work for your TB scenario.

 

I'm not convinced Ticketus would currently have the legal standing to do this - they aren't "yet" officially creditors. We could still honour the deal with them if a hero arrives and clears the decks. Unlikely, I know, but this is why D&P were arguing with them in court - to define if and how the Ticketus deal could be cancelled and where it would leave them. D&P haven't acted on that guidance yet.

 

My worry is its HMRC.

[bluebear54 0]

I wonder if it could be that one of the key players in this whole shambles is contesting the appointment of Duff & Phelps or the validity of their appointment.

 

Mmmmm? D&P strangely silent for once if it is ......

Not sure that would really help us.

Anyway, thought their appointment was rubber-stamped by the Court?

Don't honestly see one of the key players shelling out for this. I might be wrong.

Nothing in the media? Twit world?

[caseyjones 0]

I'm not convinced Ticketus would currently have the legal standing to do this - they aren't "yet" officially creditors. We could still honour the deal with them if a hero arrives and clears the decks. Unlikely, I know, but this is why D&P were arguing with them in court - to define if and how the Ticketus deal could be cancelled and where it would leave them. D&P haven't acted on that guidance yet.

 

My worry is its HMRC.

 

Lord Hodge also left it open enough for Ticketus to launch an appeal. It could be nothing.

[Zappa 0]

Lord Hodge also left it open enough for Ticketus to launch an appeal. It could be nothing.

 

This calling to court could indeed be a simple technicality and nothing to worry about, but the timing of it is very interesting for various reasons.

 

As well as the new "massive issue" reported last night by Tannochsidebear, the deadline for creditors votes on Duff & Phelps' previously proposed resolutions was Friday and D&P could be forced to reveal the results of the creditor voting in court tomorrow if asked by the court or by the counsel for Ticketus.

 

There's loads of different possibilities on this, but one thing's for sure and that's that a one hour session is rather long for a simple 'rubber stamp' affair.

[craig 5,199]

Presumably nothing to do with this :

 

 

 

 

A lawyer participated in a “conspiracy” with Craig Whyte before doing “a runner”, administrators alleged at the High Court today.

 

Gary Withey offered advice when Mr Whyte was trying to acquire a majority share in Rangers in 2011, said a lawyer representing Duff and Phelps.

 

And it became clear that “something was seriously wrong” after Mr Withey resigned from London solicitors firm Collyer Bristow earlier this year, Mark Phillips QC, told Mr Justice Arnold.

 

Administrators are suing Collyer Bristow for around £25million damages on Rangers’ behalf. They allege “conspiracy” and negligence.

 

Collyer Bristow has yet to outline any detailed defence to the allegations.

 

Mr Phillips told the court at today’s pre-trial hearing that there was “no evidence to implicate anybody else” but Mr Withey.

 

Mr Phillips outlined a “peculiar situation” in a written statement which explained administrators’ cash claims and was given to the judge at today’s hearing.

 

He said Mr Whyte was seeking to acquire a majority share in Rangers in the name of his company,

The Rangers FC Group, in early 2011.

 

Collyer Bristow had acted as company’s solicitors and Mr Withey was the member of Collyer Bristow who dealt with the company’s involvement in the takeover, said Mr Phillips.

 

Mr Whyte had said his company would pay more than £9million, including £5million to buy players, and the money would be held by Collyer Bristow for Rangers’ “benefit”.

 

But Mr Phillips said Mr Whyte’s “representations” were “false”.

 

“The Rangers FC Group had no ability to provide the necessary funds and no intention of providing them,” said Mr Phillips, in the written statement.

 

“Mr Withey ... was privy to Mr Whyte’s deception and participated in the conspiracy.”

 

He also outlined how in April 2011 Collyer Bristow received more than £24million from Ticketus, a firm which buys tickets in advance for events, in anticipation of proposed sale of Rangers’ season tickets.

 

Mr Phillips said Collyer Bristow used “much” of the £24million to “make numerous payments on behalf of Mr Whyte and his company”.

 

He said administrators were appointed in February 2012. A day after the appointment administrators’ lawyers contacted Mr Withey to ask for confirmation about an amount of money held by Collyer Bristow on “trust” for Rangers.

 

Mr Withey said initially said Collyer Bristow was not holding any money, then “changed his story” and said the firm was holding £260,000. A week later another member of staff told administrators that the firm was “in fact holding” £3.9million.

 

“The situation then became even more peculiar,” said Mr Phillips, in the written statement.

 

“To use a colloquial expression, Mr Withey ’did a runner’.”

Mr Phillips said Mr Withey had resigned in March and he added: “It was clear something was seriously wrong.”

 

Read more: http://www.breakingnews.ie/sport/whyte-and-lawyer-in-conspiracy-548877.html#ixzz1szJyKTpd

[Zappa 0]

From what I can gather, this is most likely an application either by D&P or Ticketus following on from the previous session where D&P were asking for guidance (or whatever they call it legally) on the Ticketus deal.

 

However, no matter whose application this is there is definitely the chance that some important things could happen (or be revealed) in court in the morning. We'll just have to wait and see.

[Zappa 0]

Presumably nothing to do with this :

 

There was an article about the Collyer Bristow case on The Lawyer website earlier as well Craig. VERY interesting stuff, but this session in Edinburgh isn't as a direct result of what's going on with the CB case down south.

[Guest Nacho's his name]

Did I see right in another forum there's an allegation of Withey forging Whyte's signature?

 

Things are starting to unravel, I've hoped since the first day of us entering administration that criminal activity could be proved. I doubt it'll help us in anyway but those responsible have to face jail time. If in company law this is legal then it's an eye opener to how this whole country (world?) has went down the tubes