Celtic Banter Archive May 12 2012

12 May 2012 23:32:09
Rumours of serious wrong doings by moonbeams in this BBC doc ...Fergus phone tapped by PIs to enable minty to outbid Celtic for players ??.....TTTS

That would be an outrageous story. They'd surely see stupid amounts of punishment.

Doubt it though. Why not just ring up the club and ask what the highest bid is and how much would be required for that bid to be turned down? Surely can't be anything illegal about doing that so why resort to illegal means for no reason?

12 May 2012 21:58:12
With pudgey winning BGT does the ED think Wee whispering sally mc moist will try and sign it to replace Laughatme .....TTTS {Ed007's Note - The bear with the patch on it's eye? I thought that was finished?????}

Pudgy the dancing dog ....... britian has got talent .... win 1/2 million ... could maybe be named prefered bidder over the week end

There's something not right here...I've been out today and all the guys on here know who's won 'Britains Got Talent' (I should really go on that lol) and I'm watching American Football aka MLS - David Beckham has just scored he really has still got it ;-) Mrs E
{Ed007's Note - Can we ask what your talent is Mrs...is it safe to broadcast on terrestrial TV?}

Of course its safe to broadcast lol...I do mean version of The Gambler and Dirty Old Town. Well I think so anyway, when i've had a vodka or 3 ~ Mrs E {Ed007's Note - When they said a 'dug' had won I thought Chery 'Munter'l Bacon had made a comeback!!!

If any this rings a bell Mrs let the troops know.....

Wasnt really watching it Mrs E ... just caught the tail end of it .....TTTS

On twitter so must be true ....Harry Rednapps dog and pugsy THE DANCING DOG have formed a consortium to take over rangers ..... Isnt arrys dog half irish wolfhound ... Follow Follow are reporting that their club is going to the dogs ....TTTS

Neil Diamond is my all time favourite :-D. I never sing any of his songs at karaoke and i'm very critical of anyone who does if they aren't any good..Sacralige ! Mrs E

12 May 2012 21:33:03
Enjoy your day tomorrow lads. not often you'll find me on here but had to be done. credit where credits due, regardless of our troubles you have been deserved champions.
J1985

12 May 2012 19:38:22
does anyone else think it is funny that the former member Al Johnston has said they passed all info to DM about GW and all and yet goes on to blame the sfa. if that did happen then the responsibility is with DM is it not?

i find it really funny how he says DM had all the info, basicly saying he know all about what was going on, and not say any blame or anything about DM but it is everyone eslses fault. does it make sence to anyone? hope their fans are able to ask the same question

12 May 2012 17:54:04
Duff & Duffer have just announced
that Mr Green will be next week's
Preferred KIDDER.....LOL Timalloy

N this weeks unlucky lottiry winnur wull huv tae pit ah bid in fur the ranjurs,
lets see who we mite huv this week, ossama bin full , ur sodam hussy fk theyr the only wans left yur duffship,awrite then wull try thaem then?
wheel thum in.....

12 May 2012 16:32:57
Not a rumour more of an observation. I do have genuine sympathy for some Rangers fans, it's not nice seeing your club on it's ar5e! But there are some with very short memories in regards to ribbing and having a wee dig. I'm sure a number of posters on the blue side would have been giving it big style if the shoe was on the other foot and indeed revelled in how close we went in 94. Now the complete arrogance from some means I am losing all empathy for them. With each day a new revelation is made and it seems that the ego of the masses brought this upon themselves. Scott

Scott - just wait until is is proven that they were illegally using EBTs and the players had dual contracts for 10 years.

When they won the league in 2005 against Hibs, all of their starting 11 and 7 subs had EBTs.

That is financial doping and cheating on a monumental scale.

I for one have no sympathy. Their so called decent fans no exactly what they are associated with and accept it.

K-Dot

K-Dot,

.....and you know that the full squad, on that day, were on ebt's how?

Is there still any proof that the EBT scheme was wrong anyway? If Rangers are in the wrong, why haven't HMRC taken action yet?

TTG {Ed007's Note - They have taken action, that is why the hearing is at the appeal stage.}

TTG

You have been in denial throughout, us Timmies have been talking absolute p1sh.

But all that we have said has been proven correct.

Just wait my friend, be patient, and all will be revealled.

K-Dot.

Ed. My point was, if Rangers are guilty as charged, why did it take a long, drawn out court case, surely the HMRC would have the power to take swift action without the court case?

You say it is at the appeal stage? Does that mean there has been a verdict and eother HMRC or Rangers are appealing this verdict?

TTG {Ed007's Note - Rangers are appealing the initial bill, penalties and interest (which are worked out on a daily basis), the longer it drags on the higher the penalties and interest rises if the FTT finds in HMRC's favour.}

12 May 2012 16:24:51
It was generally agreed yesterday evening, that Paul Murray and Brian Kennedy gave an oscar winning performance to the media yesterday afternoon and on later interviews on TV. If only their bid had been as good as their words, we would have been out of this mess many weeks ago.

From information gathered from various sources - close to The Blue Knight's, the administrators and club officials - combined with the email from Kennedy's laywer released yesterday afternoon, it is about time all Rangers supporters were shown the truth behind the The Blue Knight's bid for the club.

Lets start at the beginning of this, which is when David Murray was about to sell to Craig Whyte, after months of protracted negotiations. Paul Murray came out at the time and told everyone that Whyte was a bad sort (no arguments there!) and that he had offered David Murray £28million to buy the club, but D Murray refused to sell it to him as he wanted to sell it to Whyte.

At the time it sounded like sour grapes from an outgoing board member, but take note of that figure they quoted, £28million.

Fast forward to February of this year and our entry into administration after weeks of speculation.

Following the shocing plunge in to administration, on the 1st of March Paul Murray arranged a meeting with some high profile Rangers fans and some fans reps, to explain his plan to buy the club, with a view to getting some fans support. Paperwork was shown with bits of their business plan and it all sounded very impressive. Items such as a massive board of Directors, which included many fans reps, who would represent the new tiers of shareholders which would be created via a massive share issue, during the 2012/13 season.

There were to be three levels of shareholders, the lowest starting at £1000 a share, but with pay-up options to ensure fans could contribute from as little as £10 per week. Democratic elections of these fans reps would ensure accountability and no issues would be excluded from the fans -all very good news.

When it came to discussions of funding, it was claimed at that time that there were to be around ten Blue Knights in situ, and discussions were ongoing to take that number up to twenty, before the bid was due to go in.

To qualify as a Blue Knight, an investor would have to part with £1million, as a minimum. Obviously this would give The Blue Knight's a pot of cash to buy and finance the club of around £20million, plus the income generated from a fans share issue, which was estimated could be another £20million. This would have paid off the club debts, given it a firm footing, and ensured the club would come out of adminintration in a much stronger position.

The next major incident came along when The Blue Knight's announced that they had negotiated a deal with Ticketus to take them out of the CVA pot. The deal was that Ticketus would accept a payment of £10millin - much higher than they could have expected through a CVA - and in return would offer The Blue Knight's an overdraft facility, at competitive commercial rates, of up to a further £10million.

This rang alarm bells for some of us, who wondered why this was happening when Duff and Phelps had correctly won a court case to ensure that Ticketus were not preferential creditors and were to go into the CVA pot, along with other creditors.

Up until this point, Ticketus were seen as the bad guys who had done a deal with Whyte for our future season tickets, in exchange for money to pay off Lloyds Banking Group. This deal was hailed in some quarters as a fantastic piece of business, which secured Whyte's shares - it was believed Ticketus would get Whyte's shares in exchange for not pursuing him for his personal guarantee for the £24million loan - and it was seen as the final piece of the jigsaw that would see The Blue Knight's win the race to buy the club.

On two consecutive weekends in April, it was believed that The Blue Knight's had won the race and would be declared as Preferred Bidders on the Monday morning, only to be scuppered on both occassions by Ticketus.

The first time Ticketus tried to shaft The Blue Knight's by running to Bill Ng looking for a better deal with him, than they were set to get from The Blue Knight's. After Ng chased them away they came back to - a now raging - Paul Murray who reluctantly swallowed his pride for the good of his bid and agreed the same deal as before.

Again Duff and Phelps were happy to name them as preferred bidders on the Monday and this story broke widely over the weekend. Things were again looking good for The Blue Knight's.

Unfortunately, Ticketus again pulled the plug on the deal, finally admitting that they had no agreement with Whyte for his shares, showing they had been chancing it the entire time and therefore, they were not able to proceed.

While none of these two events were directly the fault of The Blue Knight's, it shows that their choice of partners was at best, suspect. It also confirmed to those of us who had questioned Ticketus's motives all along, that if they were willing to break rules to get Whyte out of the club, they could not be trusted to act in the best interests of our club for anything at all.

What the deal with Ticketus proved more than anything, was that The Blue Knight's original claims of having a number of investors and a large pot of cash, was now fanciful. It was clear that they had not been able to convince investors to join their group.

Instead of going in with the bluffing Ticketus - a deal that was claimed was the only way forward for the club - they should have either asked the fans to join them and bring forward the investment vehicle, or admit defeat and try to join forces with another interested party.

During this time they continued with their black propaganda campaign - heavily involving their supporters from the Rangers Supporters Trust, FollowFollow and certain media outlets - blackening the name of any other interested bidders. This was to pressurise Duff and Phelps to name The Blue Knight's as preferred bidders, when they could not realistically do that due to the level of bids involved.

This was never more carefully orchestrated than when Bill Miller was named as preferred bidder by Duff and Phelps.

Bill Miller spent hours talking to Ally McCoist and Sandy Jardine, but did not want to go public to the fans until the deal was done, so as to not get the fans hopes up too much. The feedback from these conversations was good, as he answered all the questions asked of him, and it looked like the best way of explaining his interest would be to compare it to what Fergus McCann done for Celtic.

He certainly was not a fan, but a businessman from North America, who spotted the chance to buy a massive institution for a low price, turn it around and make it work properly and sell it on for a much higher price some years later. He also refused to comment on the negative campaign being waged against him, as he believed it gained nothing but a split in the support. How right he was.

The reasoning for his decision to withdraw may or may not have had anything to do with the 1,000 plus negative and abusive emails he received, but he certainly took into consideration. If there were 1,000 fans taking the time to contact him negatively before he took over, it would make his job much harder to convince them to buy season tickets and back his custodianship. We will probably never know for sure, if it was this neagative fan reaction, that forced him to withdraw his bid.

The one thing that we can be sure of is that Bill Miller had a much better chance of success than The Blue Knight's, when to comes to acheiving a CVA. That is why they were named preferred bidders by the joint administrators.

In cash terms The Blue Knight's offer was only £1.5million, with other add-ons bringing it up later, but only £1.5million of cold hard cash, to buy the famous Rangers Football Club. Quite a far cry from the £28million Paul Murray, was supposed to have offered a year previous.

This brings us up to the present time.

With the collapse of the Miller bid, there was talk of new interest from numerous parties, one of which was a UK consortium, now publicised as being fronted by Mr Green.

Let us cut to the chase now with the two bids just now.

The Green bid is £8million cash. Write a cheque, put it into the CVA pot and move forward. Nice and simple.

The Blue Knight's latest bid is £9.1million, as per the email from Bian Kennedy's lawyer to Duff and Phelps, which was publicly released yesterday, in conjuction with the heart-warming press conference.

Let's examine this £9.1million bid.

It includes extra payments into the pot from Eurpoean success in the next few seasons, including a mention of some extra money if Rangers were to make the Champions League quarter-final! While I would love us to be competing at this level, even the most optimistic of Bear would admit that this is not something I would want my future income depending on.

There are also other conditions added in, which mean that extra payments will be made to creditors during the course of next season. Of course, this means that it is not The Blue Knight's paying for this, but the club (i.e. you and me). It would not be too far a push to suggest that the share issue is in mind to pay for this.

David Hinchcliffe - Kennedy's laywer who wrote the email - tries to argue with Duff and Phelps why they are taking out £3.5million from the £9.1million, because it is money due to the club from other football clubs.

How can you possibly include £3.5million of transfer payments due from other clubs, for players previously sold into your bid for the club. That is quite shocking.

Instead David Hinchcliffe asks why Duff and Phelps are not giving The Blue Knight's credit for saying they will meet the expected trading losses of around £10million for the 2012/13 season.

Again, why should this be relevant at all. If The Blue Knight's take over the club for the start of 2012/13 and make a £10million loss in their first year, why should they be given any credit for funding this? In any event, again it looks likely that it will be the fans share issue that is funding this shortfall, not The Blue Knight's investment.

This is why the word "quantum" is being overly used these days. The Blue Knight's bid is all pieced into future payments. It might all add up to around £9.1milion, but it is clear that the cash offer is no more than £2million. While £2million is an improvement on their embarrassing £1.5illion offer of the last round, it is still pretty embarrassing and hardly going to be acceptable.

Do The Blue Knight's really believe that they should be allowed to purchase Rangers for an initial investment of £2million, plus add-ons?

Duff and Phelps are well out of their depth in this administration - that is a given. Have they made mistakes? You bet they have. Is it their fault that The Blue Knight's are not the new owners of Rangers? Absolutely not. That fault lies 100% purely and squarely with The Blue Knight's and their failure to raise sufficient funds to buy the club, in a professional manner.

I hear that the Green consortium will be named preferred bidders by Monday, but having been caught out before, I take that with a pinch of salt and ask others to do likewise. However, time really is running out for The Blue Knight's to come up with the cash up front, that would buy them the club.

They either put up a sensible cash bid of £8million and take our club forward - with all their great ideas and fans share issue, a large democratic board and Rangers men in all significant positions - or, they give up trying to steal the club for a bargain basement price and then get the fans to pay for everything in later years and let - or even back - the Green consortium get on with the job of ensuring there is a Rangers left to follow next season.

That's the first time since all this started that i understand all the ins and outs of the attempted buyout.My heads been scrambled for weeks now that nothing was really registering.Good piece of writing.

Jungle Bhoy.

Well written. I also see you posted it on the Rangers page. I hope Rangers supporters accept this as an accurate reflection of the situation the club are in.

Too many soundbites and hot air from K / BKs, using the Smith and Souness names the gain credability. The "blood on their hands" statement from Kennedy was disgusting.

As you say, stup up the cash, they know how much they have to offer, do it and Rangers will belong to K / BKs.

K-Dot.

Cant take the credit for writting this,just copy and pasted it from this site www.rangersmedia.co.uk/index.php?option=com_content&view=article&id=742:the-truth-behind-the-blue-knights-bid&catid=103:board&Itemid=531 sorry forgot to put my name. pmttid

K-Dot I did post it on the rangers site,are you sure you saw it there?. As i didnt see it published,maybe its because i didnt put my name, feel free to publish it there again.pmttid

The £28 million that P.Murray was talking about was to be raised through a share issue,which Whyte put a stop to.
P.O.B

Yes, definitely on the Rangers site. Time of posting 16:02:20

K-Dot.

12 May 2012 14:55:22
here ed ah pit an add oan the local newsajints sayin,
" waant tae loose 2 stane ah ugly unwantit flab?"
call wee pat oan 0141 7-1 7-1 1888 furst persun tae ansur wee sally

Boatulur!

12 May 2012 14:41:20
HAIL HAIL troops!

Just back from a few months work in Belize...beautiful place, but insanely dangerous!
I haven't had much contact with the 'real' world since i've been there, so how have the Hoops been playing? Gutted we missed out on the treble....were we beaten by the better team? or some more of the usual 'honest mistakes' at play? Glad i made it home in time to visit Paradise for the trophy presentation, and corporate hospitality no less :D

can't believe that mob STILL haven't gotten any further forward....what's the script? i read some papers today that have blown pretty much every story that has come out of ibrox clean out of the water.....murray knew all along, greig knew, finance director knew...wtf! lies lies lies lies lies...why did no-one report these shady goings on? It all makes an absolute mockery of their fans and fan groups pointing the blame at everyone else, and boycotting away games....what an absolute disgrace of an institution!

anyway, enough of them, i'm off to watch a few recordings with a wee half shandy:P

ps...hope the usual bear baiters have been keeping up the good work GJ, Tim etc:)


Taco {Ed007's Note - Welcome back Taco mate.}

Taco its wee apt here ,sorry naw its no its
sumbdy else,did ye bring "the wee pakigje" bak fae nudge nudge,,
see that bellize iz that no jist undur wee sallys belize buttin?
asap av goat a " persun" waitin fur it taco bell,
fae wee tacky

Here tacs ma man its wee apt her while yuv been away the price ae lagur hiz gon up tae £5 a can bit seein iz its you am oan ma waey roon wae wae aforkluft tae square ye up get yur cash oot £ 3499.99 plus vat, dont furget the "messidj"

Cheers wee pat, ahve goat yir wee messidj, bit the dug ate it an that, sa when yi cum roon wi the forkie wi ma cargo, yi kin yase they forks tae scoop hur aff the flayr....a hink ye beta git sum gid rubur gluvs anaw.
a kin oanly gie yi twa geez fur the cargo mind, kiz a wiz tawkin tae sum bers, an they sais that vat is fur pussys, an ahm no a pussy, no wit a meen wee man?


Taco

12 May 2012 12:51:05
Now i have no doubt that Murray and Kennedy are good businessmen as both have impressive track records,Kennedy more so i would say having built his empire himself,but both know the way the corporate world works.But for the life of me i just cant understand that strange press conference yesterday.Firstly there is the constant mentioning of Smith and Souness.Smith has no direct quotes attributed to him regarding this takeover,strange no journo asked him considering how much they love him.Souness clearly stated he had no contact regarding the blue knights bid and was pretty vague about if he was interested.Then comes the performance,and i use that word with care,of Kennedy.Why would a self confessed Hibs fan be getting so hot and bothered about rangers?I felt his demeanour and rhetoric were designed to be provocative and a blatant appeal to the more unsavoury element among the rangers support.In a time when the rangers fans have threatened independent panel members judging sanctions to be passed to them,to use the phrase"blood on their hands" is surely ill judged at best and sinister at worst when referring to Duff & Phelps.Kennedy then outlines his bid,and there seems to be a lot of conflicting arguments here.His consortium claim they are way ahead in due diligence compared to other bidders.If so, why on earth would he claim that monies owed to rangers would form part of his moving forward cash reserves? Rangers are owed 3.5m,money Kennedy claims would be used to fund the club from June 1.Err,that cash would go into the creditors CVA pot as per administration law.You might think the fact they were leading the due diligence process,coupled with business acumen,they would have known this? It is also widely accepted that rangers will be in administration at the start of next season,meaning another years ban from europe,so why is he talking about playing in europe in year two? If rangers were in europe that would have added another 2m to the creditors pot,meaning he thinks admin will continue,under their stewardship,for another year at least.He then claims Duff & Phelps told him 8.5m was the target figure and they achieved that,clearly the bid was dependant on too many variables.So if he is so desperate to own rangers why not pay the 8.5m up front?He is a paper billionaire(a real one) so with the rest of the blue knights why did he not top up the cash? It seems to me that they wanted control,then when liquidation became the only thing left,could say look we tried everything but we cant stop this,you know we are "rangers men" trust us.After the rubbish the rangers fans have been fed for months,they would have accepted this as an honest summation of the situation.Once again the subject of HMRC was never raised,by either of the knights or by the press(what a shock)who seem hell bent on distorting the truth.The clincher for me was claiming Whyte had an "agreement" to "release" his shares! Got that in writing Brian? Or are you the only guy in the western world willing to trust Whyte? Then there is Paul Murray. In the SFA report on rangers they claim Directors should have asked questions about the levels of debt rangers were building.Did you do enough Mr Murray? Or was the blazer,nice seats at ibrox,euro trips and not inconsiderable expenses enough to buy your silence? Greig,McClellan and the other David Murray yes men are the people with rangers"blood on their hands" as they seem to have turned a blind eye.Greig,voted the greatest ever ranger by fans,quit.The media are spinning this to look like it was all he could do to start the questions being asked of rangers finance.Why did he not go to the media to ensure rangers safety? Rangers fans have to stop gathering at empty buildings and look within ibrox for the real culprits in this shambles.Might as well end on a conspiracy theory.With the exception of Kennedy,all the knights were in and around the corporate areas of ibrox under D Murray's tenure.Lots of business would have been attained and given during those times i would think.Was it like a boys club?Dont worry about rangers there fine,the mugs will turn up no matter what(same as the way we were treated by the families) More lamb and red wine? Kennedy;rugby man from edinburgh and self made millionaire.D Murray;rugby man from edinburgh and self made millionaire; Just imagine if BK was so desperate to buy rangers to cover up DM's shocking end to his ibrox ownership? That would be one way of stopping details coming into the public domain,details that might turn rangers fans on D Murray.Why does Kennedy,who is quoted as saying he would not let rangers go to the wall,just not kick in another 5-6m to guarantee control? What does he know?........green jhedi

I don't think his statement yesterday was anything to do with incitement at all GJ.
I think what you saw last night was a passionate and perplexed individual showing his utter bewilderment at a totally incompetent administration process.
TBK 's offer almost matched Bill Miller's bid(less £200,000) in Quantum terms.
So why did D&P give B Miller the go ahead and refuse the BK's?
There can be no offer on the table from the remaining bidders as of yet,as they have not had enough time to complete the due diligence. Would you put an offer in for a second hand car without giving it the once over? What's to stop Green's consortium doing a Miller and walking? Result.. Liquidation. This is now looking like the the plan all along. D&P have been caught out,and Brian Kennedy has put their statement last night in the hands of his lawyers,as it was a pathetic attempt to smear the BK's. Watch this space,they may well be back,but it's too late for a CVA,and that's the point Kennedy was making. If the other bidders don't come through,RFC will be dead,and that's why he used the term "Blood on their hand's"
"Previously" Optimistic Bear

Kennedy was on a huge ego trip yesterday, and at times I felt that Murray was embarassed by him. He is not a Rangers man and his "theatrics" clearly showed this.

Their desperation to get a deal concluded so quickly centres around the £3.5m of creditors money. If they get a deal concluded imminently, they can then try and secure a CVA. If the CVA is secured quickly, then the £3.5m of creditors money will be sufficient to run the club until money comes in from season ticket sales, followed by a share issue. Kennedy doesn't have to put in his own money, other than about £2m.

If matters were to drag on any longer and a deal not concluded to buy the club, then a CVA can still be agreed with creditors, but it will be at a far later date.

The problem for Kennedy is that if the CVA is agreed at a later date,the running costs of the club start eating into the £3.5m, and he then has to put his hand in his own pocket to fund the club up until the CVA is agreed. This he does not want to do.

It all distils down to Kennedy only wanting to invest £2m, wanting to use the creditors money to run the club until a CVA is agreed and not his own, and then income from ticket sales and a share issue to fund the club.

If Kennedy wanted Rangers that badly he can simply put up the money and the deal will be done. Otherwise he should shut up and walk away.

K-Dot.

Agree with majority of your post K-Dot, particularly the financial input. However i would disagree with the motive.
As i see it, Bill Miller's bid was accepted by D&P,and the admin told TBK's what they would have to offer. They did that in "Quantum" terms. Then still got knocked back. They could put more money in,but why offer more than what B.Miller did? They were also going to finance the "renegotiated contracts" until the share issue was introduced,to keep the players,or at least own their contracts until they were sold. Makes sense to me. Bigger pot for creditors,and possible pay off for Whyte,re discharging his shares.That is if the CPS don't catch up with him first.
"Previously" Optimistic Bear

"Previously" Optomistic Bear

I think you've correctly identified what the central issue is with the Kennedy / Blue Knights offer, and that is the "Quantum".

And I think this is where it starts to get a bit messy.

The quantum of the Miller bid was a straight forward cash purchase price of £11.2m which would go to the CVA pot after new administrators fees (circa £2m) and Close Finance (£1.6m) had been deducted. The quantum was therefore straighht forward and the administrators took the view that this would satisfy the creditors.

The difficulty with the quantum of the K / BK bid is that is is more "Craigwhyteesque". It is using only £2m of the K / BK's own money with all sorts of other conditions which the creditors cannot be certain of at the time of considering agreeinment to a CVA. I can understand why the adminsitrators would reject their offer and believe they were corect to do so. Under this offer the creditors may only see £2m.

K / BK know what the "net" quantum is that they have to offer and they are not doing this. They keep coming back to the table with smoke and mirror structures to the offer, because they don't want to invest any more of their own money than £2m.

The time has come for them to either put up or shut up.

K-Dot

Hi K-Dot.
Yeah i see what you're getting at now.
However the share issue would have provided more for the cva pot would it not?
I believe this was part of BK's offer as well.
As to them putting up or shutting up,i fear the latter will prevail.
What will be interesting is to see if anything further comes of the spat between Brian Kennedy and D&P,Re the events of last night.If one or the other takes it any further legally,then i would assume they are the ones telling the truth.
P.O.B.

P.O.B (that's a bit easier. lol)

None of the monies raised from the share issue would go into the CVA pot as far as I'm aware. They would go into funding the club.

This is the problem, the amount the K / BK consortium are putting up just isn't enough to satisfy the creditors, and that is why Duff and Phelps are taking the stance they are.

I've no doubt that if K / BK reached the required quantum in a "clean" offer, then Duff & Phelps would bite their hand of to do a deal.

I think your right, it will be very interesting to see if anything further develops over the next few days.

K-Dot.

12 May 2012 12:10:04
its like reservoir dogs,theyre in the brown,want back in the black,green,white and all that,cannae be bothered making it rhyme but im feeling in the pink haha bri67