Duff and Phelps have accused the BBC of muck raking after uncovering e-mails between Craig Whyte and the firm before Rangers went into administration.
Correspondence detailing a quick period of administration and a fee cap of £500,000 were published on the BBC website early this morning following last week’s documentary- ‘Rangers- The Men Who Sold The Jerseys’.
On Tuesday Rangers published their CVA proposal which lists fees due to Duff and Phelps of £5.5m.
That programme detailed a number of individuals, including Graeme Souness, David Murray and Billy Dodds, who had money paid into EBT’s and also highlighted the relationship between Duff and Phelps with Whyte.
Despite the predictable threat of legal action from Duff and Phelps nothing has been served on the BBC with Mark Whyte posting more revelations today.
Responding to those allegations a statement from Duff and Phelps, joint administrator Paul Clark said: “This is another pathetic muck raking exercise by the BBC which completely misrepresents our position.
“From day one of the administration, it was abundantly clear the club was in a major insolvency situation that was going to last for a significant period of time.
“This was evident from our discussions with HMRC that day and we stated at our very first press conference, attended by the BBC, that Craig Whyte’s estimates for a quick resolution were optimistic.
“The emails in question were preceded by a letter sent on 10 February 2012 which made reference to a £500,000 fee in relation to a specific possible outcome which did not materialise.
“The BBC has also got its figures wrong when stating our fees are now more than 10 times this amount.
“As stated yesterday, all fees are subject to approval by creditors and are in keeping with the best practice guidelines from insolvency practitioners bodies.”
“It is absurd for the BBC to take these emails, written prior to administration and based on a specific possible outcome, as evidence of any wrongdoing on our part.”
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Bullshit that their fees are subject to creditors. are secure creditors and if they don’t get their CVA, they liquidate instead. They are guaranteed their fees as part of the carve up of RFC(IA)’s assets such as Ibrox and the training ground. What’s that structure you see from up in space? It’s Paul Clark’s nose. Pinocchio hasn’t a look in.
Surely if they have nothing to hide….they have nothing to worry about. But such emails are clearly a source of major embarassment.
Have the found the documentation requested by the SFA some weeks ago yet ??
if not WHY not….they are getting paid enough to do something. Since they moved in the club continues to lose £ 1.5m a month which is money lost to creditors.