Blue Knights + Kennedy Joint Bid Submitted - Ticketus NOT in consortium

[capstans 0]

TBK's appear to be opportunists, will not be a surprise if they stall and prevaricate until miller knows the regulatory outcome.

[Zappa 0]

TBK's appear to be opportunists, will not be a surprise if they stall and prevaricate until miller knows the regulatory outcome.

 

From what Brian Kennedy was saying in the Record it sounds like they're gambling on Miller pulling out.

[capstans 0]

From what Brian Kennedy was saying in the Record it sounds like they're gambling on Miller pulling out.

 

If that is how much they value our club that they are willing to let someone else make their decision for them it is a sad reflection on the calibre of those involved.

[CumbernauldGers 0]

If that is how much they value our club that they are willing to let someone else make their decision for them it is a sad reflection on the calibre of those involved.

 

Agree mate, but expect the admin guys and everybody but TBK get the blame.

[Juancornetto 1]

From what David Whitehouse had to say this afternoon, the BK's are no nearer to buying Rangers than I am. Bill Miler's bid is made up of hard cash and must involve some sort of hybrid liquidation given the fact that he hasn't set any conditions regarding CW's shares or a CVA being in place.

 

He wouldn't elaborate on the mechanics of Miller's bid but was at great pains to say that liquidation wasn't part of it. I'd love to know what the actual mechanics are of this "hybrid liquidation". Think I might hybrid liquidate myself and tell the bank to fuck off for their mortgage.

[Zappa 0]

It's frustrating to see and hear about so many hold ups in this whole process and I've had a few digs myself, but I think it's unfair to judge The Blue Knights & Kennedy at this stage.

 

While they've stalled the procedings themselves several times, there's also been unforeseen things happening along the way that have completely changed the landscape of the situation.

 

We've had Duff & Phelps repeatedly moving goal posts, bidders coming and going, the announced SPL rule change proposals (to be voted on Monday) and this week's insane transfer ban by SFA.

 

We've also got Craig Whyte looking like he wants a hefty pay off before he'll play ball.

 

All the while Whyte's appointed administrators Duff & Phelps still haven't made a legal move to secure Whyte's shares for a buyer like The Blue Knights or any other buyer looking to take over and exit administration via a CVA.

 

I've got to be honest and say that I'm far more concerned about what Duff & Phelps are playing at than anything else because despite all the talk of creditors, the primary objective for D&P as administrators is supposed to be to try and rescue the company as a 'going concern' by any means necessary within the law laid out in the Insolvency Act.

 

It's only if they ultimately feel that they can't rescue the company as a going concern that their full attention should turn to providing the best way forward for the creditors. It seems to me as though despite it being a very complex situation, Duff & Phelps have been repeatedly changing their tune on these basic facts. One minute they're saying that they're priority is the club and the next minute they're saying that they're priority is the creditors.

 

Do Duff & Phelps have conflicts of interest and are simply playing funny buggers or is it that they don't know what they're doing and are as confused about all this as the fans are?

Edited April 28, 2012 by Zappa
typo

[CumbernauldGers 0]

Zappa - It's frustrating to see and hear about so many hold ups in this whole process and I've had a few digs myself, but I think it's unfair to judge The Blue Knights & Kennedy at this stage.

 

I could agree with you if this was there first bid, but what bid number are we on now? 1,2,3,4 or 5??

[chilledbear 16]

I think TBK/Kennedy have put 1 bid in.

[forlanssister 3,050]

If that is how much they value our club that they are willing to let someone else make their decision for them it is a sad reflection on the calibre of those involved.

 

God forbid they think every £ saved pre-administration is a £ to invest post administration!

 

Worth remembering too that the Club9/Miller/et al bid for Sheffield Wednesday started off at £20m and ended up at £2m, plus they wanted to charge annual management fees.

[der Berliner 3,273]

God forbid they think every £ saved pre-administration is a £ to invest post administration!

 

Worth remembering too that the Club9/Miller/et al bid for Sheffield Wednesday started off at £20m and ended up at £2m, plus they wanted to charge annual management fees.

 

You know for sure that Bill Miller was involved in any deal concerning Wednesday?