Make no mistake - the line currently being peddled that Duff & Phelps had left it to each individual buyer alone or to Ticketus to obtain Craig Whyte’s shares as part of the CVA process is tripe. Pure and unadulterated tripe.
I have been in two meetings with the administrators where they stated without hesitation or qualification that Whyte’s shareholding would not be an impediment to a CVA. Subsequent one of them claimed that it would take 48/72 hours to get them off of Whyte.
To see this issue go from being ‘no problem’ to ‘big problem’ has been bewildering.
My suspicion is that the Rangers administration has simply proved to be too big a job for D&P and they are casting around for excuses to do a far simpler job than a CVA - and that is a newco/liquidation.
Source: FOOTYMAD
