No ruling on Rangers' Ticketus deal

 

Click to follow
The Independent Football

A judge today declined to give Rangers' administrators legal guidance on their bid to breach a £24.4 million season ticket deal.

Lord Hodge said he had not been given sufficient legal information to allow him to make a ruling on the club's contract with investment firm Ticketus.

The judge also declined to give Ticketus preferential treatment as creditors.

The administrators, Duff and Phelps, went to the Court of Session in Edinburgh last week to seek legal directions on whether they could tear up the Ibrox club's agreement with Ticketus.

The investment firm's eight-figure cash injection allowed Craig Whyte to pay off the club's bank debt and complete his takeover in May last year.

Ticketus insists it has a legally binding agreement to receive £27 million back, thought to be over three years.

However, the administrators argued that the deal could put off potential investors in the club and they sought a court decision on the status of the agreement.

Judge Lord Hodge, who heard the arguments over several days, is expected to issue a full written judgment on his findings.

A summary of his decision, issued today, said he "declined to give a direction" because "he considered that the court had not been given sufficient information to allow it to make such a ruling".

Comments