Oldco v Collier Bristow

[Steve1872 4]

http://www.thelawyer.com/analysis/ma...016288.article

 

 

Cohen & Stephen (The Liquidators of Rangers FC) & Ors v Collyer Bristow

 

Late 2013, 5-10 days, Chancery Division

 

For the claimant Cohen & Stephen (The Liquidators of Rangers FC):

 

South Square?s Mark Philips QC leading South Square?s Stephen Robins previously instructed by Taylor Wessing partner Nick Moser, taken forward by Stephenson Harwood partner Stuart Frith

 

For claimants the Trustees of the Jerome Group plc Pension Fund:

 

Outer Temple Chambers? David E Grant, instructed by trustees David Simpson, who is also a qualified barrister

 

For the claimants HMRC:

 

South Square?s Lucy Frazer

 

For the claimants Merchant Turnaround:

 

Maitland Chambers? James Clifford and Matthew Smith of the same set, instructed by Macrae & Co?s Julian Turnbull

 

For the respondent Collyer Bristow:

 

3 Verulam Buildings? Cyril Kinsky QC leading Matthew Hardwick of the same set, instructed by Clyde & Co partner Richard Harrison

 

 

 

.

The financial collapse of Rangers FC put in the public eye the club?s relationship with its professional advisers, including Collyer Bristow and former partner Gary Withey.

 

Withey quit the firm in March after he became embroiled in the Glasgow club?s administration because he had advised businessman Craig Whyte on his takeover of the club in 2011.

 

Duff & Phelps were appointed as the original administrators of the club and, in March last year, announced it would take action against the firm.

 

When liquidators Cohen & Stephen took over the wind-down of the club it pledged to carry on the case. The firm has lodged a Part 20 claim against private equity firm Merchant Turnaround.

 

Collyer Bristow stands accused of ?deliberate deception? over Whyte?s doomed bid for the club.

 

The court heard at a pre-trial hearing in April that Collyer Bristow is alleged to have been involved in conspiracy, breach of undertaking, negligence and breach of trust, with Withey - who acted as the club?s company secretary - complicit in the allegations.

 

It was revealed that when Whyte agreed a majority stake takeover offer in May 2011 he also pledged to pay off the club?s £18m debt to Lloyds Banking Group and invest £9.5m of ?new money? in the club. This included £5m for players, £2.8m to HMRC and £1.7m for capital expenditure.

 

That offer persuaded then director Paul Murray and the board not to launch an alternative £25m share issue to generate the money needed to stabilise the club. Instead, the court was told, they agreed to Whyte?s takeover, with Collyer Bristow acting for Whyte.

 

Administrators were called in February 2012 and various parties - including HMRC, private equity firm Merchant Turnaround and Jerome Pension Fund trustees - lobbied to reclaim their stakes in Rangers.

 

The firm says it will vigorously defend the claims. Withey had originally applied to intervene in the case, but has now withdrawn his application.

 

This battle will be closely followed by firms and fans alike as it promises to lay bare the firm?s relationship with Whyte and the club.

[Steve1872 4]

Lawyers for "Oldco" Rangers make motion to bring "Charlotte recordings" into evidence

Now doing detailed argument over @charlottefakes tapes. CB lawyers also want them in.

Football "forum" posts on charlotte tapes now being placed in evidence.

"Charlotte emails" not followed up by press in "post-Leveson world" says counsel for CB

 

[Steve1872 4]

Lawyer for CB says Craig Whyte has emailed court and has "no objection" to @Charlottefakes material being used in evidence.

No police objection to Charlotte material being used as evidence court hears

Judge suggests transcript of "Charlotte" material made with anything legally privileged redacted, discussion continuing

 

Police withdrew objection over "Charlotte material" on Feb 13 court hears

Court ends, judge rules "Charlotte"material is admissible in full trial as no police objections.

[gisabeer 409]

for give my ignorance but what is the charlotte material

[forlanssister 3,050]

So all parties effectively legitimise Charlotte Fakes, hope der Berliner doesn't spontaneously combust!

[the gunslinger 3,366]

Yes time to stop kidding on this stuff isn't real just because we don't like it.

[the gunslinger 3,366]

for give my ignorance but what is the charlotte material

 

Tapes of Whyte and green discussing Whyte owning us after admin etc.

[Super Cooper 0]

So was Bomber right all along then?

[der Berliner 3,214]

Tapes of Whyte and green discussing Whyte owning us after admin etc.

 

I would assume that that is not exactly what these chaps up there are looking at, as interesting it might be. They speak about the takeover in 2011 and the admin event in 2012, not about Green taking the club over after the CVA "failed".

 

The point remains that hardly anyone is able to verify quite a number of this stuff and, what also should be highly contentious, how it got into the hands of this "whistleblower". I reckon not by legal means ... no matter how important it is for Whyte's takeover or Green's conning of Whyte.

[the gunslinger 3,366]

The police seem to disagree