Statement from Assembly, Association and Trust re: Duff & Phelps

[Bears 0]

The problem thou Bears is this mob take their time and still seem to make a balls of it.

 

You obviously know how this kind of thing works very well mate. I don’t, it’s alien to me, but i know enough about life to know that no mistakes should be made when the final decision comes.

[Frankie 8,570]

I reckon a preferred bidder will be named pretty quickly actually.

 

Only questions are will they pay the exclusivity fee and can they remove Craig Whyte from the equation?

[GovanAllan 0]

You obviously know how this kind of thing works very well mate. I don’t, it’s alien to me, but i know enough about life to know that no mistakes should be made when the final decision comes.

 

Not really mate just going by their track record with us, if they can't get all the paperwork right to actually put us in Admin then what makes us believe anything they do is up to scratch.

[Tannochsidebear 2,420]

I also understand the PB will be named today or tomorrow at the latest.

 

I would hope that when this happens the 2 failed bidders will continue to monitor closely the events in the event that the PB cannot get a deal with either Creditors or Whyte.

[GovanAllan 0]

I also understand the PB will be named today or tomorrow at the latest.

 

I would hope that when this happens the 2 failed bidders will continue to monitor closely the events in the event that the PB cannot get a deal with either Creditors or Whyte.

 

This stall has set alarm bells ringing for me as the only bidder who defo wanted to talk to the SPL/SFA was the yank, and this was to take place over the weekend. If he was not the preferred bidder then why the stall.

[Tannochsidebear 2,420]

The stall was to be seen to be fair to all parties, to avoid any appeals and mud-slinging post-naming of PB status.

 

I dont agree with D&P often, but I can understand this delay. What I dont agree with is there assessment of how long they should be giving the 3 parties to get the additional info they may or may not require. 24 hours should have been enough, it is not difficult to make a phone call and get the info required.

[caseyjones 0]

Oops, wrong thread.

Edited April 16, 2012 by caseyjones

[Frankie 8,570]

Interesting that Jim Traynor feels it is the exclusivity fee which is holding back preferred bidder status being awarded to TBK.

 

http://blogs.dailyrecord.co.uk/jimtraynor/2012/04/knightmare---liquidation-looms.html

[Craigy1881 79]

What the hell is this "exclusivity fee". Why does such one exist and does it just line the pockets of Duff and Phelps?

[Frankie 8,570]

What the hell is this "exclusivity fee". Why does such one exist and does it just line the pockets of Duff and Phelps?

 

Such a fee is standard practice apparently though the bidders feel it is excessive.

 

Essentially it's seen as a commitment by the admin to show a bid is indeed serious. This also offers 'exclusive' access to further financial information and dialogue with relevant parties for two weeks.

 

Unfortunately, there is some debate whether or not this would represent good value given people like Kennedy have said they may make a renewed bid at the end of this period.