Smallwood says the deal was supposed to have been signed at 1pm today and that the press statement had been released without his knowledge.
Park Row issued a statement this afternoon suggesting the deal for Park Row advisers to be taken on by 2plan had collapsed after the firms failed to agree satisfactory terms.
Smallwood says: “We are clearly rather disappointed and surprised to read the press statement which Park Row issued early this afternoon. We have been in exclusive talks with them over the past few weeks and had always believed that both parties were working well together with the same level of integrity and honesty.
“Last night a conference call between both parties confirmed that an agreement had been reached which we were all happy with and indeed we were due to sign legal agreements at just after 1pm today. Sadly however, we then saw press statements, issued without our knowledge, saying that the deal had collapsed. We believe this may have happened following a board meeting held by Royal Liver this morning, but have not had any confirmation on this.”