D&P Report into RFC Finances available

[rbr 1,256]

my head hurts

[caseyjones 0]

How have we paid ticketus 8 mil already?

Also, d&p advised on tax then shuts ignored and employed someone else is my understanding, then never paid

 

We paid Ticketus £8m and at the same time we sold another tranche of ST's to pay for it. Robbing Peter to pay.........Peter!

 

I'm still far from convinced that Grier's/MCR's part in all of this is completely innocent.

[Bears 0]

Ref D&F, people need to remember they have reputation on the line here. If they get us out this it's a massive gold star for them.

Getting us out this is like a multi million pound advert for "free" for them so forget all these conspiracy theories

[caseyjones 0]

Ref D&F, people need to remember they have reputation on the line here. If they get us out this it's a massive gold star for them.

Getting us out this is like a multi million pound advert for "free" for them so forget all these conspiracy theories

 

I think it's more of an 'arrangement' rather than D&P breaking any laws. Whyte had this scenario in mind from day one and everyone was getting a cut along the way. MCR appear to have been chosen for their part in it all. They also don't seem to have been averse to dragging their heels at certain stages of the process as the money keeps rolling in. Today's running total won't include their 10% of any monies that are brought in through the various court proceedings.

[forlanssister 3,114]

Be interesting to know how many of the hours billed by Duff & Phelps are for David Grier.

[Tannochsidebear 2,420]

Thats not too bad.

 

Given that Ticketus are either going to deal with TBK or get stuffed in lengthy court action, we can safely rule that money out of the equation.

 

We can rule out the debentures as this wont need to be paid.

 

The money owed to other clubs is covered by the money owed to us by other clubs, so nothing to worry about there.

 

That leaves your general day to day creditors and the tax man. HMRC are saying (privately) that they wont be difficult to deal with, even if they get a 100% win in the BTC which is very unlikely.

 

I can see absolutely no reason why a CVA cannot be reached with these creditors getting a reasonable deal that they wont turn down.

 

The outrageous part of it, as expected is that D&P have earned about £1.2M already. The 2 partners (assuming they havent pulled in more partners to work on the gravy train, sorry case) must be working (or billing) around 70 hours per week to have got their part of this fee to the level it is at.

 

A company (us) trading at around £40M turnover (excl Europe)is accruing Admin costs of around 30% of its entire turnover, pro-rata. Nice work if you can get it.

[plgsarmy 111]

Anyone know why we would still owe the Murray Group nearly a quarter of a million quid?

[GovanAllan 0]

According to Real Radio we owe upwards of 100 million.

[Stimpy 0]

For those of us whose laptop is away being fixed and finds reading on the phone head bursting, could a nice bear or bearette give me a summary?

 

Thanks in advance:)

[caseyjones 0]

According to Real Radio we owe upwards of 100 million.

 

Up to £134m, according to D&P.