Peregrine Investments' provisional liquidator Price Waterhouse says there were insurmountable differences between executives of the bankrupt company over which buyer they were prepared to accept, making it impossible to proceed with 'certain offers'. In the face of growing criticism over its role, joint provisional liquidator David Hague said: 'There were polarised camps within the senior executives. It was quite clear these people were never going to get along or see eye to eye on a deal.' His comments come amid accusations from some Peregrine executives that the interests of some former directors clouded the process of selling - and getting the best deal for - Peregrine's core assets. Mr Hague said the attitude of 'certain executives' meant certain deals were not going to be acceptable. 'One group clearly had their own ideas and were not prepared to listen to other offers,' he said. 'I would love to have sold the whole global operation as one - so all the assets and liabilities went as one. However, a certain group of executives would only go with certain investors, this knocked it on the head.' Disgruntled Peregrine staff hit out at the Hong Kong and China team, saying they had clearly looked after themselves rather than the group as a whole. One particular criticism they pointed to was the failure of Price Waterhouse to appoint an independent investment bank to advise on offers. 'Objective and independent advice has not been available to the liquidator,' said one Peregrine executive. A third party would have conducted a wider search for a buyer and prevented conflicts of interest, he said. A senior accountancy industry source also picked up this point. 'This is absolutely essential . . . [it is] hard to believe it was done without,' the source said. Mr Hague said Price Waterhouse did not feel the need to take on outside help because of its own in-house expertise. 'We do have our own global project finance team in Price Waterhouse used to this with a lot of experience in the area,' he said. He also pointed out that as soon as Peregrine went into liquidation there were interested parties declaring their intentions. 'There were enough people beating a path to our door, we didn't think [an investment bank] would add a lot.' He said Price Waterhouse had a team of eight corporate finance staff working on the deals. While the 150 or so staff in the Greater China team can look forward to a new job and bonuses, hundreds of Peregrine's regional staff still face an uncertain future. Added to that, most have not been paid for their final two weeks of work for the company, the first fortnight in January. It is a statutory requirement that they are paid for this time. Mr Hague said he was not primarily responsible for this but he wanted to see people get what they were entitled to. However, he said the process was likely to be complicated and depended to a certain extent on which part of Peregrine staff had worked for. Mr Hague said: 'Some parts are insolvent, some are not and may be able to pay the staff themselves. However it is likely to get quite messy.'