Duff and Phelps receive top industry award

THE firm brought in to carry out the administration process at Rangers has been named “Corporate Restructuring Advisor of the Year” at an industry awards.

Duff & Phelps picked up the accolade at the ACQ Finance Magazine Global Awards 2012 following nominations from readers of the title.

Paul Clark, a partner at Duff & Phelps, said: “The awards highlight outstanding performers across the professional services spectrum and celebrate the best advisors working across the world – as identified by the readers of ACQ Finance Magazine.

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“It is a real achievement for us to be recognised, not only locally, but also on a global scale by our peers, and one in which our entire team can take great pride.”

Last week at the Court of Session, Lord Hodge called for a full report into claims made in a BBC television documentary that David Grier, a senior partner at Duff & Phelps, was aware of a controversial deal Craig Whyte struck with investment firm Ticketus which he used to fund his purchase of Rangers through advance season ticket sales.

Grier has denied the allegation, insisting his only knowledge of Ticketus’ relationship with Rangers at the time of Whyte’s takeover was their previous involvement with the club under Sir David Murray’s ownership. Duff & Phelps are also being investigated by the Insolvency Practitioners Association over the claims.

The firm negotiated a sale of the club’s assets to a consortium led by Charles Green for £5.5m after creditors rejected an agreement which would have seen Rangers repay pennies in the pound for estimated debts of about £134m.

The firm’s award follows its recognition at the ACQ Finance Magazine Country Awards in 2011 for “Turnaround and Restructuring Advisory Firm of the Year”.