Guest superrcooper7 Posted May 24, 2012 Share Posted May 24, 2012 A partner at Rangersâ?? administrators at the centre of "conflict of interest" accusations has claimed owner Craig Whyte withheld information from him. David Grier, of Duff and Phelps, had been part of owner Craig Whyteâ??s takeover team and has since become involved in the administration process at the Ibrox club. He faced questions over a "conflict of interest" in his involvement with both the takeover and insolvency of the club in a documentary broadcast on BBC Scotland on Wednesday night. In response, he issued a statement strongly denying the allegations in the TV programme. The BBC published emails that it claimed showed Mr Grier knew that Mr Whyte â?? who bought an 85% stake in Rangers for £1 from Sir David Murray last May â?? had effectively funded his takeover using a £25.3m deal with Ticketus for future season tickets at Ibrox. Mr Grier has rejected this, claiming the Ticketus deal referred to a short-term agreement put in place to keep a flow of working capital coming into the club, which at the time of the sale last May was £18m in debt to Lloyds Banking Group. Speaking from New York, he told STV News: "There is absolutely no doubt that there was a significant amount of information withheld from the parties involved at the time and we are included in that." He said he became aware of the Ticketus deal in the later part of July 2011 when the London firm sought repayment of the "initial funding" they had provided. He added: "There was nothing unusual about that because we expected Ticketus, because they were a recognised source of funding of the club to have a repayment requirement. "But the scale of that repayment requirement became obvious in July." He claimed emails highlighted in the BBC documentary that purportedly illustrated his knowledge of the £25.3m did not do so, but show that he thought the Ticketus arrangement was in relation to a deal for working capital. He added: "Thereâ??s no suggestion whatsoever in those emails of the quantum that was being acquired from Ticketus. It would be quite usual for Ticketus to be used as a short-term funder but not as an acquisition funder." 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted May 24, 2012 Share Posted May 24, 2012 The emails from Betts to Grier dated June 23 and from Grier to Betts dated June 24 clearly demonstrate Grier is a liar as he states he will raise the invoice for Ticketus and the initial deal with Ticketus was for 3 seasons (subsequently increased by a season in order to meet the first repayment due!). 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted May 24, 2012 Share Posted May 24, 2012 The emails from Betts to Grier dated June 23 and from Grier to Betts dated June 24 clearly demonstrate Grier is a liar as he states he will raise the invoice for Ticketus and the initial deal with Ticketus was for 3 seasons (subsequently increased by a season in order to meet the first repayment due!). This was another Ticketus deal that nobody had mentioned prior to last night. 0 Quote Link to post Share on other sites More sharing options...
big tam 0 Posted May 24, 2012 Share Posted May 24, 2012 can this becoming extremely ugly 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted May 24, 2012 Share Posted May 24, 2012 This was another Ticketus deal that nobody had mentioned prior to last night. My understanding is it relates to the original 3 season Ticketus deal referred too in the emails here http://www.bbc.co.uk/news/uk-scotland-18175731 0 Quote Link to post Share on other sites More sharing options...
caseyjones 0 Posted May 24, 2012 Share Posted May 24, 2012 My understanding is it relates to the original 3 season Ticketus deal referred too in the emails here http://www.bbc.co.uk/news/uk-scotland-18175731 Sarcasm and the internet don't make for great bedfellows. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted May 24, 2012 Share Posted May 24, 2012 Sarcasm and the internet don't make for great bedfellows. .......................... 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,747 Posted May 24, 2012 Share Posted May 24, 2012 Looks like the BBC can't do anything wrong for some people on here. To those same some, the world is neatly black and white, it seems. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted May 24, 2012 Share Posted May 24, 2012 Looks like the BBC can't do anything wrong for some people on here. To those same some, the world is neatly black and white, it seems. No matter how many times you state the contrary the BBC aren't to blame for our current travails. Have you even seen last nights programme? 0 Quote Link to post Share on other sites More sharing options...
54andcounting 0 Posted May 24, 2012 Share Posted May 24, 2012 No matter how many times you state the contrary the BBC aren't to blame for our current travails. Have you even seen last nights programme? Yeah, like we are in a deep dark hole somewhere south of somewhere. 0 Quote Link to post Share on other sites More sharing options...
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