Some info regarding the progress of the Rangers liquidation hearing before Lord Hodge today.
As with everything in this saga, it is not straightforward.
Three of the issues so far –
Collyer Bristow, lawyers for oldco under Craig Whyte and also defendants in court actions raised for millions of pounds by Duff & Phelps as administrators, have opposed the ending of administration. Tactically this may be designed to help them with the court actions, but the grounds for objecting are not yet clear.
Lord Hodge has asked for a transcript of the Craig Whyte tape, as heard on the BBC recently. It appears that it might be necessary for a court order to be granted before the transcript would be handed over.
There is a challenge to Duff & Phelps’ claimed remuneration of in excess of £3 million.
If Lord Hodge needs the transcript to finalise administration, then there will be a delay. Whether or not his Lordship was satisfied by the earlier report given to the court by D&P, the alleged conversation between Mr Grier and Mr Whyte clearly has raised concerns in the judge’s mind, as is understandable.
D&P, as their response to the BBC, said they did not comment on matters taken out of context. The whole transcript would put matters very much into context.
Hopefully that would not show up any inconsistencies with the report already lodged with the court!
The matter is adjourned for lunch.
Posted by Paul McConville