Duff And Phelps Welcome Inquiry
Updated Saturday, 23rd June 2012
The BBC documentary on Rangers troubles stirred things up a bit and now Duff and Phelps are fighting back.
David Whitehouse, joint administrator, said in a statement: "We welcome the decision by Lord Hodge today. Producing this report for Lord Hodge will give us an opportunity to demonstrate that the allegation of conflict of interest by the BBC was wrong and grossly irresponsible. We have a well-established conflict checking procedure which was fully adhered to and there was no reason for us not to accept the role as administrators. It should be remembered that HMRC withdrew their application to appoint administrators to enable us to do the job. We maintain there is no conflict of interest. Since the BBC documentary we have met Mr Roger Isaacs who appeared on the programme and was asked for his professional opinion as a forensic accountant. Mr Isaacs informed us that he was not shown relevant documentation by the BBC and now, having reviewed the documentation, has told us that he is satisfied that our firm did not have knowledge of Ticketus funding being used to acquire Rangers in 2011, prior to the transaction being completed. We are also co-operating fully with the investigation announced by the Insolvency Practitioners Association and we look forward to that inquiry been concluded as soon as possible. We have also referred the BBC allegations to our solicitors."