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‘I’ve been waiting 15 years to call you a w****r!’: Mick McCarthy clashes with Piers Morgan in awkward on-air exchange over long-term feud

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Piers Morgan (left) and Mick McCarthy clashed on air as they rehashed a long-standing feud

Piers Morgan and Mick McCarthy engaged in a light-hearted war of words as they re-opened an old feud dating back almost 17 years ago – with the former labelled a ‘w****r’ on Monday.

McCarthy was a guest on Morgan’s Sports Uncensored show as they reviewed England‘s World Cup quarter-final win over Norway before previewing Wednesday’s semi-final showdown with Argentina.

However, while speaking about Jude Bellingham‘s and Thomas Tuchel‘s contrasting views in the aftermath of beating Norway, attentions quickly turned to a sticking point between Morgan and McCarthy.

The incident in question stems from McCarthy’s time as Wolves manager on December 15, 2009 when he chose to rest 10 outfield players during a midweek 3-0 Premier League defeat at Manchester United.

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McCarthy decided to rotate the team after a 1-0 win at Tottenham three days before and was later vindicated that following weekend with a 2-0 win over Burnley and by ultimately avoiding relegation at the end of the season.

However, staunch Arsenal fan Morgan was unhappy with McCarthy’s approach with his side competing with United in the title race at the time. His mood was worsened as a day after Wolves’ loss, Arsenal were held to a 1-1 draw at Burnley. Writing for Daily Mail Sport at the time, he called for McCarthy to be sacked.

Piers Morgan (left) and Mick McCarthy clashed on air as they rehashed a long-standing feud

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Morgan called for McCarthy to be sacked after he rested 10 outfield players during Wolves' 3-0 loss at Man United in December 2009. However, McCarthy was justified as they stayed up
McCarthy cuts a forlorn figure during that defeat

Morgan called for McCarthy to be sacked after he rested 10 outfield players during Wolves’ 3-0 loss at Man United in December 2009. However, McCarthy was justified as they stayed up

As Morgan, 61, quipped that McCarthy knows he was right in his criticism of him at the time, the 67-year-old replied: ‘You’re never right, mate! You just antagonise people with your comments, which you’re doing on this show quite clearly.

‘My job is to win games. We went to Spurs the Saturday before, we won 1–0 with about 35 per cent possession. We’ve got Manchester United on the Tuesday. I went there, I dropped 10 players. I have a squad of 22. If I’m a manager, it’s my right to manage that team how I see fit and get results.’

‘And it’s my right as an Arsenal fan who was directly impacted by it,’ replied Morgan.

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‘Because you weren’t good enough!,’ retorted McCarthy. ‘Because you weren’t good enough to win the title, and Sir Alex [Ferguson] won it again. And you weren’t good enough, so you blame me, which is real bad on your part.’

In response, Morgan said: ‘Now I know what Roy Keane’s problem was!’ alluding to McCarthy’s infamous spat with Keane which saw his then-Republic of Ireland captain leave their 2002 World Cup squad in Saipan, Japan before the tournament had begun. ‘Just to be clear: by dropping 10 players, you let United walk all over you, which had a direct impact on my team’s chances of winning the league. I thought that was an appalling abrogation of your duty as a manager to entertain the fans with the best available team.’

Morgan allowed himself a laugh before McCarthy continued his defence: ‘Let me clear you up. My duty was to beat Burnley on the Saturday. And we did. And from Tottenham away, Manchester United away, and Burnley at home, I took six points out of nine. I thought it was a fantastic piece of management work!’

After being accused of throwing ‘the white flag of surrender’, McCarthy refuted those claims adding: ‘We stayed up! We stayed up. The club got £100million. My chairman at the time wasn’t happy when we got beat at Manchester United, but when they got the £100m at the end of the season, let me tell you, he was deliriously happy!’

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With co-host Simon Jordan caught in the middle of the debate, Morgan asked McCarthy: ‘How would you have felt if it had been completely reversed, and Arsenal had a game which, if they won, it meant you would have stayed up, right? And we rested the entire first-team squad and got beaten 2–0? How would you have felt then? Be honest.’

As the debate wore on, McCarthy called Morgan a 'w****r' to which they both laughed about

As the debate wore on, McCarthy called Morgan a ‘w****r’ to which they both laughed about

Morgan also found it funny after being called a 'b***h' as he called out McCarthy's hypocrisy

Morgan also found it funny after being called a ‘b***h’ as he called out McCarthy’s hypocrisy

‘I’m going to moan like a b***h, like you do!’ McCarthy replied as all three burst into laughter, to which a chuckling Morgan said: ‘Exactly! Exactly! There it is. There’s the hypocrisy!’

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As both continued to see the funny side, they finally aligned on one thing as McCarthy agreed: ‘There we are right there, we’re all hypocrites! And I’ll be honest.’

As the disagreement ends on a positive note between the pair, McCarthy ends it on how happy he is to cross paths with Morgan for one reason.

‘I’ve been waiting how many years? 15 years to say it. You know, I’ve been waiting 15 years to call you a wanker, so happy days!’ he concludes that debate in a deadpan manner – to the hilarity of Morgan.

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Police say Ann Widdecombe was killed in ‘targeted attack’

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Police say Ann Widdecombe was killed in 'targeted attack'

The 78-year-old was found dead at her home in Haytor, Devon, on Thursday (July 9), with “serious injuries.”

A 28-year-old man was arrested on suspicion of her murder on Saturday and has since been rearrested on suspicion of the commission, preparation or instigation of acts of terrorism.

Shabana Mahmood, the Home Secretary, confirmed the suspect was not known to the Government’s Prevent anti-extremism programme.

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Speaking in the House of Commons on Monday, she paid tribute to Miss Widdecombe, describing her as a “unique figure” in UK politics and a “devoted public servant.”

Ms Mahmood said: “She was a unique figure in our politics, a distinctive and devoted public servant, the likes of whom we will rarely, if ever, see again.

“Ann had a profound faith. Her journey in this life has ended too soon.”

Counter-terrorism police are now leading the investigation following the discovery of new evidence.

Laurence Taylor, head of UK counter-terrorism policing, said: “Building on the progress made by our colleagues in Devon and Cornwall Police, we now have new information and evidence that means Counter Terrorism Policing is now leading the investigation.

“We are pursuing multiple lines of inquiry to establish the motivation for this attack.

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“Our priority is progressing this investigation quickly, with all the capabilities we have available to us.”

He urged anyone with information to contact police and thanked the public and media for their support and patience.

Counter terrorism police are now leading the investigation into the death of Ann Widdecombe (Image: Zoe Head-Thomas/PA Wire)

Miss Widdecombe, who was a former Conservative MP, Brexit Party MEP, and most recently a Reform UK spokeswoman, was found dead at about 11.40am on Thursday at her remote bungalow on Dartmoor.

Police believe she was attacked around 12.30pm on Wednesday, shortly before she was due to appear on Channel 5’s Matt Allwright show.

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ITV News reported that Miss Widdecombe stopped responding to WhatsApp messages from a TV producer after the time police believe the attack took place.

Nigel Farage has been offered a meeting with the head of a parliamentary security body following Reform UK’s concerns about the safety of its MPs, Ms Mahmood confirmed.

The Home Secretary said she would also review security guidance for former MPs and members of political parties without representation in Parliament.

Footage published by media outlets showed a shirtless man being arrested in Rotherham, South Yorkshire, on Saturday (July 11).

In cases such as this, investigators will examine the suspect’s devices for evidence of terrorist material and consider factors including mental health.

Police have said that if the investigation continues under terrorism legislation, they could be permitted to detain the suspect for up to 14 days for questioning.

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Miss Widdecombe first entered Parliament as the Conservative MP for Maidstone in 1987.

She later served as an MEP for the Brexit Party and became a spokeswoman for Reform UK.

Outside of politics, she became a familiar face in popular culture, appearing on Strictly Come Dancing and Celebrity Big Brother.

Following her death, there were calls for caution from Reform UK figures after Devon and Cornwall Police initially ruled out a political or terrorist motive for the killing.

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Richard Tice, deputy leader of Reform UK, said it would be “wise, when considering motivation” for police to keep an open mind “as opposed to ruling things out too quickly that may then end up being ruled back in”.

Gawain Towler, a board member for the party, said changing the line of inquiry risked undermining trust in the police.


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Mr Towler said: “In a time when trust in the police is at an all-time low, this just plays into that they are trying to massage public opinion rather than do the job of investigating a brutal murder.

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“By appearing to rule something out and then a few days later bringing it back in, they look manipulative and that’s a shame.”

Miss Widdecombe was widely respected across the spectrum for her public service and outspoken character.

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Scarborough Railway Station to close car park for repairs

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Scarborough Railway Station to close car park for repairs

​A passenger hub on the North Yorkshire coast is scheduled to close its car park as part of essential maintenance works taking place next week.

​TransPennine Express (TPE) has asked passengers not to use the car park at Scarborough Station on Monday, July 20.

​The rail operator said that essential maintenance works would be taking place and that vehicles could not be parked at the coastal station’s car park.

Scarborough Station, Current Frontage. Align Property Services

​“It is important that no vehicles are parked overnight from Sunday 19th July into Monday 20th July,” TPE noted.

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​It added: “Thank you for your cooperation.”

​The company did not specify what the maintenance works are set to involve.

​Earlier this year, a £14 million project to preserve the Grade II-listed building’s historical character, including a new roof, drainage systems and restored stonework, was completed.

​Roof repairs at Scarborough Station were started after a glazing failure in 2021.

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The station was made safe and, after funding constraints were overcome, the full restoration began in spring 2025.

Scarborough’s coastal location meant Network Rail had to take into account local constraints.

Hawks were employed to prevent seagulls nesting during the main roof work last summer, and specific types of tile, paint and timber were used because of the salt-heavy sea air.

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Counter terror cops say Ann Widdecombe was killed in a ‘targeted attack’ after police initially denied it was ‘politically motivated’

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Ms Widdecombe appeared on Talk TV on Wednesday before her death

Ann Widdecombe was the victim of a ‘targeted attack’, the Head of Counter Terrorism Policing has said.

Assistant Commissioner Laurence Taylor said police are still looking into any ‘motivation’ behind the 78-year-old’s death.

Police believe she was killed in her remote Dartmoor home on Wednesday lunchtime.

A 28-year-old remains in custody.

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Mr Taylor said this afternoon: ‘It is clear that this was a targeted attack.

‘We are still working to understand the extent of any planning or preparation, and the motivation that sits behind that attack.

‘I don’t want to comment further on that motivation or preparation at this stage of our inquiries.’

It came as the boss of Devon and Cornwall Police has defended her embattled force over the way it has handled the Ann Widdecombe murder investigation.

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Police and Crime Commissioner Alison Hernandez hit back at criticism after her officers spent days insisting the Tory former minister’s death had no link to terrorism.

But counter-terror officers were called in yesterday to take over from local detectives as the investigation escalated.

It prompted claims from Reform UK that police misled the public over the death of the party’s immigration and justice spokesman at her home on Dartmoor last Wednesday.

In a robust statement today, Ms Hernandez said: ‘There’s been some commentary about the way Devon and Cornwall police have communicated during the early stages of this case.

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‘But, as the Home Secretary (Shabana Mahmood) said yesterday, it is not unusual that in a fast-paced investigation, more information comes to light that changes the nature or the character of what the police are dealing with.’

Counter-terror officers took over running the investigation on Monday following the discovery of the former MP’s body at her home on Dartmoor on Thursday.

Ms Widdecombe appeared on Talk TV on Wednesday before her death

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The suspect was captured on CCTV leaving his property shortly before 8am on Wednesday with what appears to be a pole in the pocket of his shorts

The suspect was captured on CCTV leaving his property shortly before 8am on Wednesday with what appears to be a pole in the pocket of his shorts

Forensic officers were seen heading into the house in Rotherham after the arrest on Saturday

Forensic officers were seen heading into the house in Rotherham after the arrest on Saturday

Home Secretary Ms Mahmood confirmed yesterday that the British white suspect arrested on suspicion of murder and terror offences, who the Mail is not naming for legal reasons, was not known to the Government’s deradicalisation programme, Prevent. 

Devon and Cornwall Police has faced significant criticism over its initial handling of the inquiry and the fact it was five days in before counter terror officers took over.

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Local officers waited more than 24 hours to announce a murder investigation, before Assistant Chief Constable Matt Longman said on Friday night: ‘The incident is not being treated as terrorism’, and later said there was no evidence to suggest the crime was politically motivated.

Devon and Cornwall Police also arrested a local labourer in error on Friday before detaining a 28-year-old suspect nearly 300 miles away in Rotherham, south Yorkshire, on Saturday night.

He remains in police custody.

The Mail has learnt that items of varying political ideology, including Russian material, have been found at the suspect’s home and on electronic devices.

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In her statement, the Police and Crime Commissioner paid tribute to Ms Widdecombe ‘an exceptionally likeable character’.

A huge cordon remains in place near Ms Widdecombe’s remote home, but Ms Hernandez hinted at an imminent return to normality.

Floral tributes continue to grow near a police cordon in Haytor Vale, Dartmoor, where Ms Widdecombe was killed

Floral tributes continue to grow near a police cordon in Haytor Vale, Dartmoor, where Ms Widdecombe was killed  

She said: ‘When I visited the scene on Sunday, I was impressed by the efforts being made by the police to speak to residents and address their very understandable concerns.

‘I am sure the impact of this major operation has meant that some people have had to wait longer than they would expect for routine services, or have not yet had their issues resolved.

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‘I have been assured officers and staff will be returning to business as usual over the coming days, which are also expected to be particularly busy with two final legs of the World Cup and the start of school holidays.’

Reform UK board member Gawain Towler led the initial criticism of the police, saying: ‘In the past, they’d have said all avenues of investigation are open but this time they tried to close out avenues of the investigation. In a time when trust in the police is at an all-time low, this just plays into that they are trying to massage public opinion.’

The killing has reignited fears about MPs’ safety following the murders of Sir David Amess and Jo Cox.

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From cystic fibrosis at 7 to The Open at 27: David Howard’s inspiring journey to Birkdale

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From cystic fibrosis at 7 to The Open at 27: David Howard’s inspiring journey to Birkdale

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Everything you need to know about the World Cup – England updates, the games to watch and stories you missed – in five minutes, at 1pm, every day.

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Northampton man who staged wife’s suicide jailed for murder

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A woman with dark hair pulled back from her face points to a plaster on her arm

The couple’s daughter, Athena, who appeared via video-link from the US, told the court her father was a “jealous, conniving, narcissistic villain”.

“How could you do such an evil, selfish, malicious thing?

“You couldn’t stand the fact she had so many people who cared about her.

“No amount of years rotting in prison will ever amount to what you deserve, because you deserve no life.

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“You are a pathetic, unloved man.

“The day you killed my mother, you killed me too. I feel I will never be happy again.

“A dad is supposed to protect their daughter from pain, instead you caused the worst pain of my life.

“I will not let you defeat me, I will show up for her, my mum, and I will continue to make her proud.”

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Jurors were told Thompson was aware his wife had started a new relationship and was planning to move out, and she had requested about £65,000 as part of a divorce settlement.

Prosecutor Miranda Moore KC told the jury posts Kimberley shared on Facebook and Snapchat in the early hours of that morning saying she had “drank too much” raised suspicion among her friends and family because it had a spelling error and was not written in the way she wrote.

Shant said Thompson had made a “concerted attempt to conceal” what he had done, and “set about creating a false scene to fool the police”.

“You were literally trying to get away with murder.

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“The evidence makes it clear you pretended to do CPR and you feigned distress on the phone to the emergency services.

“You also took her from her family, friends and colleagues – a woman who was accomplished, valued and loved.

“She adored her children and she adored the fact she was about to start a new life.”

Det Ch Insp Torie Harrison, from the East Midlands Special Operations Unit, said Kimberley faced about two decades of domestic abuse.

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She paid tribute to her friends and family for “the grace they have shown throughout our investigation and particularly over the last six weeks”.

“The level of abuse Kim was subjected to was horrific, and I want to take this opportunity to say to anyone who may be living a similar life that help is available.”

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Driver has ‘lucky escape’ after car becomes submerged in water

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Cambridgeshire Live

A road was closed while the vehicle was recovered from the water

A driver had a luck escape after their car left the road and ended up in water. The car entered the water along French Drove, Thorney, this morning (Tuesday, July 14). The car had to be recovered by Cambridgeshire Police. The road was closed while recovery took place.

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A police spokesperson said: “A driver had a lucky escape this morning on French Drove, between the Lincolnshire border and Thorney, after their vehicle left the road and ended up in the New South Eau.

“Thankfully, the driver was able to get out of the vehicle and climb to safety before emergency services arrived. The driver was assessed by the East of England Ambulance Service NHS Trust for any injuries.

“The road was closed for a period while recovery work took place to safely remove the vehicle from the river. Please take extra care on rural roads.”

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Public thinks Nigel Farage battling with Count Binface to avoid scrutiny, poll finds

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Daily Mirror

EXCLUSIVE: Polling reveals 52% of voters believe Nigel Farage decided to fight a by-election in Clacton in order to divert attention away from a standards probe into a £5million ‘gift’ he accepted

Nigel Farage is quarreling with a bin in order to avoid scrutiny about his finances, most voters believe.

Damning polling seen by The Mirror reveals 52% think he decided to fight a by-election in Clacton to divert attention away from a standards probe into a £5million ‘gift’ from a crypto tycoon. Just a quarter do not believe he is trying to avoid scrutiny, polling firm Survation found.

Even among current Reform voters, a third think Mr Farage is attempting to swerve questions about his finances. The Reform leader faces a humiliating battle after all the main parties refused to take part in the “circus” contest, clearing the way for parody candidate Count Binface to be his main rival.

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Veronica Hawking, Campaigns Director at 38 Degrees, said: “The British public don’t suffer fools gladly. They see this by-election for what it is: an attempt by Nigel Farage to avoid scrutiny and accountability that all our politicians should be held to. Farage says he represents the people but not many people get £5m gifts from billionaire friends. It’s time to clean up politics for good.”

Mr Farage was being investigated by Parliament’s standards committee after it emerged he had accepted a large sum from Thailand-based Christopher Harborne shortly before the 2024 general election. He did not declare the money, which he insists was an unconditional personal gift.

Parliamentary rules say gifts and donations in the 12 months before becoming an MP. If he is found to have broken rules, Mr Farage could potentially face a suspension and a possible by-election. The investigation is expected to resume if he returns to Parliament after the August 13 contest.

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Mr Farage could face a second standards probe over allegations that convicted fraudster George Cottrell – an ally of the party leader – provided benefits including security, drivers, staff and accommodation. The Lib Dems last week called on the commissioner, Daniel Greenberg, to investigate following reports in The Times.

Mr Cottrell’s lawyers said they dispute reports of financial assistance to Mr Farage. On top of that it was reported last week that two £250,000 donations by Mr Cottrell’s mum Fiona are being investigated by the Met Police to determine the original source of the funds.

Two people have been interviewed under caution but no arrests have been made since it was referred to police by the Electoral Commission last Thursday. Damian Lyons Lowe, founder of Survation, said: “The public may be split on whether Farage should re-stand, but they are not split on why he is doing it. Twice as many voters see this as an escape from scrutiny than a genuine appeal to Clacton, and even among Leave voters he fails to win the benefit of the doubt.”

The Survation polling, of 2,058 adults, found 50% of people who intend to vote for Reform thought Mr Farage was not trying to dodge scrutiny. Worryingly for the right-wing party, 31% of his parties believe he was.

On Tuesday last week Mr Farage announced he was stepping down as an MP to contest a by-election in his Clacton constituency. He claimed to be the victim of an establishment stitch-up and said voters could decide his fate – despite the standards probe being ongoing.

Labour branded it a circus and Tory leader Kemi Badenoch accused the Reform leader of having a “hissy fit”. Count Binface is expected to be the main challenger to Mr Farage.

Polling by Ipsos last week found 33% of Brits want the parody candidate – real name Jonathan Harvey – to win, compared with 21% for Mr Farage. Nearly a third said neither deserve to win, and 13% are undecided.

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Mr Farage’s finances have come under increased finances in recent weeks. Desmog has calculated he has earned £2.3million on top of his £98,599 salary since entering Parliament. ,Reform UK has been contacted for comment.

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Wife of man nearly sucked out of Ryanair plane speaks of ordeal

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Karovic Ljubisa and his wife Svetlana Grković, smiling for a photo in a bar which appears to be at a holiday resort

A woman who held the legs of her husband as he was nearly sucked head-first out of a Ryanair cabin window on Friday said “half of his body was sticking out of the plane”.

Svetlana Grković, who was travelling with her husband Ljubisa Karović from Greece’s Thessaloniki to Germany’s Memmingen, told Greek public broadcaster ERT he was “outside up to his chest” for two minutes.

“I immediately reacted and grabbed his legs. I thought: ‘If we die, we die together,’” Grković told Serbian outlet Nova.

With the help of two other passengers, Grković said she was able to pull her husband – who she said lost consciousness three times – back inside.

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“The girl who was sitting next to him was holding him by the hand,” Grković told ERT. “Three of us were pulling him back inside. The oxygen masks dropped and chaos broke out.”

“They put a suitcase against the window but it was sucked out,” she added.

Grković said it seemed like part of the plane’s engine had broken off, smashing the window next to her husband and causing decompression in the cabin. Other passengers also reported hearing what sounded like an explosion.

A technical adviser appointed by the family believes the incident began with a failure in the aircraft’s right engine, causing debris to strike and shatter the cabin window before the rapid loss of cabin pressure. That assessment has not been confirmed by investigators.

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Passengers earlier told local media that Karović had kept his seatbelt on, helping those on board keep hold of him while his head and shoulders were outside.

Svetlana Grković said her 61-year-old husband is “seriously injured and in shock”.

“It’s important to me that he’s alive… his hand is particularly badly injured, and he’s got burns. He’s not able to communicate, he doesn’t remember the whole event,” she said.

She told ERT that “whenever he hears about aeroplanes he starts shaking”, adding: “I am also in a very bad psychological state… I feared for our lives. I was afraid the plane was going to crash.”

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Major UK retailer collapses with huge debts and jobs lost

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Major UK retailer collapses with huge debts and jobs lost

Administrators have revealed a series of last-ditch attempts to save the historic high street firm and added that creditors now face losing £3m.

The April closure of the last 154 Claire’s Accessories UK and Ireland stores led to 1,300 redundancies.

The retailer had branches including at York Designer Outlet, Parliament Street, Monks Cross, Scarborough, Northallerton and Harrogate.

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Concessions, such as those in larger ASDA outlets, were unaffected.

The closure came after Philip Dakin, Benjamin Wiles and Janet Burt of Kroll were appointed administrators of the company by the directors in January.

That move did not affect the company’s 356 concessions and its head office.

The administrators’ report outlines the steps taken to try to save the fashion and accessories retail estate.

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Claire’s Accessories in Parliament Street, York (Image: NQ)

The brand originated in the United States, when it was headquartered in Chicago, and dated back to 1961. Claire’s expanded into the UK in 1995, when it acquired Bow Bangles, a British chain with 71 stores.

The US-based entity, Claire’s Holdings LLC, commenced proceedings in the US Bankruptcy Court for the District of Delaware in 2025.

In August 2025, Claire’s Accessories UK entered administration with Christopher Pole and William Wright of Interpath being appointed as administrators.

Most of the business and assets to Modella Capital for a total consideration of £3.6m.

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The administrators said that, in an effort to improve the viability of the company’s business, the directors “implemented a number of revenue generation and cost reduction measures including attempts to negotiate rent reductions with landlords, exiting where possible and seeking new concession partners”.

154 stores closed following the administration (Image: PA)

The administrators said: “Notwithstanding the above financial and operational turnaround measures, ultimately the cashflow and profitability of the company had been significantly impacted by the inability to secure negotiated rent reductions with the bulk of the company’s landlords, resulting in the trading positions of those sites needing to be re-assessed.”

They also said that one of the company’s major concession partners had signalled an “imminent termination of the concession agreement” which resulted in a significant reduction in projected cash flow.

It was also hit by poor trading performance in the last quarter of 2025 and “weak consumer confidence following budgetary measures impacting business rates, employee costs and taxes”.

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They said events leading to the administration included “lower than anticipated trading performance, largely attributable to a combination of macroeconomic factors and changing market trends with low-cost and overseas online retailers gaining market share in the jewellery and accessories sector”.

The story of the decimation of a major high street presence is a familiar one. The administrators speak of increased inflationary headwinds and a general increase in overhead costs that pushed stores into a loss-making position.

Key factors around business rates, rising employee costs and taxes cannot be ignored. Attempts were made time and again to keep operators like LK Bennett, Russell & Bromley and Glasgow-founded Quiz afloat.

In this case, a secured creditor is listed as being owed £5.5m, preferential creditors £2.3m and unsecured creditors £10.5m.

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At that stage, the administrators had received total claims from unsecured creditors totalling £2.9m.

The administrators said: “Based on the current information available to the administrators it is anticipated that there will be insufficient realisations to enable a distribution to the unsecured creditors of the company other than by virtue of the prescribed part.

“This is dependent on the quantum of consideration achieved in any sale of the company’s business and assets, if any, and the realisations achieved from other assets.”

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