Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Judging by the various updates in Aidans blog and the more recent language used by BDO in their reports I reckon WRN could well come back (better odds than one in a million) if Roy & Co are short on WRN then it's no wonder they're capping themselves...... I won't shed any tears for them though
Will depend on settlement of 2nd legal claim, as per below from AE's blog... Incidentally Duff & Phelps were acquired by the Permira Fund for $1.75bn in early 2018.... (ie they are capable of paying the claim should it be successful).... Prior to the purchase of Rangers Football Club in May 2011, MCR (insolvency and restructuring specialists) were retained by Mr Whyte to advise on all aspects of the transaction. Prior to the completion of the Rangers takeover MCR was sold to Duff and Phelps for a significant initial consideration but which also included a multi million pound deferred consideration. This deferred consideration specifically related to a major insolvency case from which the vendors of MCR were hoping and expecting to earn very substantial fees. Unbeknown to Mr Whyte that large insolvency case was none other than Rangers Football Club plc. So at the time that Mr Whyte was retaining them to advise on a successful restructuring of Rangers, they actually had a direct multi million pound incentive to ensure that Rangers went into liquidation/administration instead. Following the takeover of Rangers by Wavetower (the Whyte vehicle) the MCR team, now part of Duff and Phelps, were retained to negotiate with HMRC in order to agree a solution to the various tax problems faced by Rangers. However, instead of negotiating in good faith on behalf of Rangers/Wavetower, having been retained to do so, they actually advised HMRC to reject any restructuring proposals coming from Rangers and to appoint them as administrators instead. Following the administration of Rangers the MCR vendors were then able to, and did, receive the multi million deferred consideration they had planned. This unethical, and probably illegal, treachery is evidenced in an affidavit from HMRC. Similarly, the multi million pound deferred consideration incentive is confirmed by an affidavit submitted by the CEO of Duff and Phelps in the recent Scottish trial. The losses and reputational damage resulting from this duplicity is the subject of the Second Legal Claim.
Update mentioned in advanced negotiations with 2 further deals...... So a nice start to 2019 would be one announced in Jan and the other Feb.... Fingers crossed, atleast things seem to be starting to happen now.... BEA deal looks very interesting, wonder if we'll get any more detail on that in coming weeks? GLA
That's correct mijulie Can see this moving very quickly this week and next, squeezed from both ends as sellers move their sell price up and buyers try and get in below a pound 2 more deals mentioned in the update also, its going to be a very interesting few days & weeks.