Stefanovitch 0 Posted May 11, 2012 Share Posted May 11, 2012 Is it over for TBK? I thought so until PM offered to step down now if it would help. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,514 Posted May 11, 2012 Share Posted May 11, 2012 Sky interview with Kennedy http://www.skysports.com/video/inline/0,,16482,00.html 0 Quote Link to post Share on other sites More sharing options...
tangent60 0 Posted May 11, 2012 Share Posted May 11, 2012 (edited) But who exactly can put pressure on D&P? They don't appear to be answerable to anyone and their responsibility/goal is to get the best deal for creditors. The people that put pressure on the administrators are the creditors, the largest and most significant being HMRC. If a creditor such as HMRC feels that the administrators are not acting in the best interests of creditors as a whole, they can petition the court to get rid of them. They have not done so (so far), implying (so far) that they are satisfied with the job they are doing. As to Kennedy and P.Murray, I'd hope they can come back with an improved cash offer tonight or tomorrow morning. In fact, I'd be amenable to seeing Mr Kennedy making his own move, be it (i) a straight CVA plan or (ii) a plan comprised of an asset purchase into a new company, then a CVA on the old company. Even more preferable would be to see someone like McColl make a move and blow everyone else out of the water. Edited May 11, 2012 by tangent60 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted May 11, 2012 Share Posted May 11, 2012 Sadly I'm more confused than ever. I said earlier for some reason D&P don't want to sell to BK's, I still don't get it. Seems to be the simple fact that Paul Murray was one of the old board saying that Whyte was dodgy before SDM sold to Whyte. In fact, he even tried to put forward a rival bid, but that didn't include paying the Lloyds debt, and it's Lloyds, IMO, that has helped speed us up into this present situation. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,514 Posted May 11, 2012 Share Posted May 11, 2012 Chris McLaughlin@BBCchrismclaug #Rangers administrators release statement hitting back at Brian Kennedy/Blue Knights. say some comments grossly misleading. 0 Quote Link to post Share on other sites More sharing options...
sairdy 0 Posted May 11, 2012 Share Posted May 11, 2012 I am naive in financial matters, I have no idea who has the best bid. I guess that most of the fans are in the same boat. I thought it was great to see Brian Kennedy use emotive language instead of financial mumbo jumbo. I feel this man and his team have what it takes to sort this mess out. I hope he succeeds. 0 Quote Link to post Share on other sites More sharing options...
sairdy 0 Posted May 11, 2012 Share Posted May 11, 2012 RANGERS administrators Duff and Phelps have released the following statement. David Whitehouse, joint administrator, said: "The most important information today for Rangers supporters is that discussions with two bidding parties are at a very advanced stage and we hope to reach agreement with one at the earliest opportunity. "We have noted today the publication of reasons for the findings of the SFA's judicial panel. "We welcome the fact that the panel described the witnesses who appeared on behalf of the Club at the hearing as credible and reliable but as stated previously we were very disappointed that the panel did not differentiate sufficiently between the actions of the Club compared with the actions of individuals. We look forward to the appeal being heard next week. "It is most unusual for us to comment publicly on individual bids but due to the allegations made by Mr Kennedy and Mr Murray today with the regard to our conduct as administrators we feel compelled to reveal important facts in relation to the various Blue Knights attempts to buy the Club. "For the avoidance of doubt some of the comments made at today's press conference were grossly misleading. "First I would state unequivocally, that every opportunity was afforded to these parties. "The fundamental reason we could not proceed with the Blue Knights/Ticketus combination was that we were advised there was not agreement within the consortium in relation to the funding of their bid. "Throughout the process Mr Kennedy told us repeatedly he would be the 'last man standing'. As Mr Kennedy today made a virtue of explaining publicly details of his bid we are in a position to comment on those remarks. Of the £5.5 million cash on 'day one' figure Mr Kennedy quoted, £3.5 million of that would be provided by us in any case from the Club's debtors. "The bid structure also factors in performance in Europe, and reaching the later stages of the UEFA Champions League which cannot be achieved next season for example. "We therefore find it extraordinary and very disappointing that Mr Kennedy in particular should assert that the amount being offered is irrelevant. Time and again he and others have been afforded the opportunity to become the best bid in play and it has not happened. We have a statutory duty to accept the best bid that is deliverable. "The bid should also be commercially better than the liquidation of the business. Mr Miller's bid was deliverable but he chose not to proceed. We firmly believe the best interests of the Club would be served by all involved in the process respecting the bidding process." http://www.rangers.co.uk/news/football-news/article/2769722 0 Quote Link to post Share on other sites More sharing options...
Stefanovitch 0 Posted May 11, 2012 Share Posted May 11, 2012 If these "new" bidders are frightened off by the task ahead where do we go from here? 0 Quote Link to post Share on other sites More sharing options...
ascender 352 Posted May 11, 2012 Share Posted May 11, 2012 Surely Paul Murray would know better than anyone just how unrealistic (and unsustainable) it is to be relying on funds from Europe each season? That's one of the problems that got us to this mess in the first place. 0 Quote Link to post Share on other sites More sharing options...
Danny 0 Posted May 11, 2012 Share Posted May 11, 2012 Other half was out with her folks today going past Ibrox, and apparently a bunch of suits came out. Any idea who they might have been? 0 Quote Link to post Share on other sites More sharing options...
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