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Ticketus what are they up to


islandblue
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They are now saying talks with TBK are touch and go. What has changed as it was widely reported the Knights had a deal in place with them.More importantly what are Ticketus upto.It has been said that they dont want Liquidation because then theyll get nothing but Im not sure this is correct.If for instance the loan to Craig Whyte was insured and I have heard from a good source it was by their parent company Octopus Liquidation maybe exactly what they want.In these circumstances the insurers would have to repay them in full and perhaps that is why they are being so difficult to deal with

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I think this might have something to do with it.

TICKETUS have revealed they will go after Rangers owner Craig Whyte if they become a creditor and fail to recoup all the money they forked out for advance season tickets.

Whyte sold off £26.7m worth of season tickets to help purchase the cash-stricken club but the London-based firm have admitted they believe they won't receive the full figure back from Rangers.

And they added they will chase Whyte for any shortfall.

A spokesperson for Ticketus said: "In the worst-case scenario, Ticketus become a creditor in a CVA (Company Voluntary Agreement).

"We wouldn't get all the money back but, whatever happens, Ticketus have protection, we have the ability to address any shortfall by going after Craig Whyte for the rest of the money."

The investment firm also revealed they have been in talks with the Blue Knights group over the weekend as the consortium look to be named the preferred bidder for Rangers.

And they poured cold-water on US businessman Bill Miller's claims that he could take the reigns at Ibrox.

The spokesperson said: "We have been negotiating with the Blue Knights over the weekend and talks are at a detailed stage.

"I think it has been rhetoric from Bill Miller. For one thing, how is he going to get Craig Whyte's shares?"

Earlier this year Whyte admitted he had given Ticketus personal assurances over the cash they handed over.

In February he said: "I gave Ticketus personal and corporate guarantees underwriting their investment; the club and the fans are fully protected. In terms of exposure, I am personally on the line for £27.5million in guarantees and cash."

Meanwhile, admistrators Duff and Phelps have announced they won't be naming a preferred bidder today.

They had said on Friday that they would look to proceed with Miller's £11.2million bid today if no other offers were forthcoming.

However, the Blue Knights consortium, led by former Ibrox director Paul Murray, are back in talks over submitting a fresh proposal and, in broad terms, both bidders have asked for more time to look at issues such as funding and potential sanctions.

They can get their money back from Whyte and they know it, a deal with TBK has to be worth it for Ticketus too, otherwise tehy can just walk away and chase Whyte instead. That is by no means certain that they will get all their money back, but it gives them another bargaining chip

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They are now saying talks with TBK are touch and go. What has changed as it was widely reported the Knights had a deal in place with them.More importantly what are Ticketus upto.It has been said that they dont want Liquidation because then theyll get nothing but Im not sure this is correct.If for instance the loan to Craig Whyte was insured and I have heard from a good source it was by their parent company Octopus Liquidation maybe exactly what they want.In these circumstances the insurers would have to repay them in full and perhaps that is why they are being so difficult to deal with

If this is true, then the only reason ticketus has been involve with both camps is to scupper any deal. Are ticketus trying to force us into liquidation as they will be named creditor and have the right to chase CW for their money?

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Ticketus is scrambling around trying to salvage something from the lousy deal they made with Whyte, pure and simple. I'm sure that questions are being asked of those that sanctioned the Whyte deal. Ticketus is up shit creek and is searching desperately for a paddle. Headless chickens at the minute. And probably filled with regrets.

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So they only thing that I can see that would scupper ticketus and that bastard whyte would be a decision on the big tax case. This would mean HMRC would be the majority creditor by some distance and they would be in favour of a cva. Get the feeling i am watching the biggest con since seen robert redford in The Sting when a wis boy just not entirely sure what the con is!

Very very disheartened at moment.

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Ticketus hold all the cards as they are the ones with the money BK without ticketus have no investment or they would have came up with a deal by now.

Ultimately, Ticketus holds no cards at all ... their debt is clearly with Rangers FC Group, not Rangers FC plc.

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They are now saying talks with TBK are touch and go. What has changed as it was widely reported the Knights had a deal in place with them.More importantly what are Ticketus upto.It has been said that they dont want Liquidation because then theyll get nothing but Im not sure this is correct.If for instance the loan to Craig Whyte was insured and I have heard from a good source it was by their parent company Octopus Liquidation maybe exactly what they want.In these circumstances the insurers would have to repay them in full and perhaps that is why they are being so difficult to deal with

This could be very very close to the truth mate.good point

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