[RANGERS’ hopes were rising last night that they can escape the tentacles of Octopus and write off their £24million ticket deal. And in another dramatic late night twist Record Sport can reveal the men fighting to save Rangers have started legal action to force the release of millions locked in a London account. The administrators believe as much as £4m could be in an account held by Collyer Bristow, the lawyers taken on by Craig Whyte during his buyout. It was into this account Ticketus deposited the £24m after Whyte sold off future season ticket sales. Whyte used this money to pay Lloyds £18m but the insolvency experts reckon there should be millions left in the account. They have had no luck in trying to get Gary Withey, Rangers’ company secretary, who is also a partner at Collyer Bristow, to open up the account. With the axe about to fall on players and staff at Ibrox Duff and Phelps felt they could wait no longer. Last night they instructed London law firm Taylor Wessing to take action in a bid to force the immediate release of Rangers’ money.The Ibrox fans will also be buoyed by the news that the Ticketus deal might not stand up to legal scrutiny. The Ibrox administrators are not convinced Ticketus, who are owned by Octopus, should even be considered creditors. Duff and Phelps have already told Ticketus’ lawyers that under Scots Law the clear advantage WILL lie with Rangers. They will argue that personal rights can’t be assigned and that the rights in this case belong to season ticket holders. With 60 per cent of cash from season tickets set to go to Ticketus until 2015, and with Gers fans threatening a boycott under such a deal, it will be tougher to escape administration. It would also make liquidation more of a threat and scare off any new owner. But if the Ticketus deal is declared void it will be a hugely positive step. The administrators stated their case last week in a meeting with Ticketus’ lawyers Pinsent Masons. Ticketus then wrote to Duff and Phelps stressing the deal still stands but the fact the letter came from the company, and not their lawyers, raised optimism. Rangers’ case would be strengthened if it’s shown Financial Assistance came into play in the takeover. Financial Assistance, or the use of a firm’s assets to raise money to buy that company, is illegal and the authorities will probe this. The administrators believe Rangers can wriggle off the hook and the absence of a legal presence from Ticketus after the meeting last week is regarded as ‘significant’. QUOTE=Tarquin Biscuit-Barrel;2380988]Interesting.[/QUOTE] so rangers are hoping to write off the ticketus debt, but prior to doing this they want they 6 million or so that is sitting in whytes acct. you could not make this up. if rangers are not going to pay back the ticketus money as they feel they do not owe it, what right do they have to any cash that may or may not be left over?
botched abortion face What has any of this got to do with the taigs? Not like them to be jealous and obsessive
