The QC representing Ticketus has suggested that Duff and Phelps are attempting to scrap their deal with Rangers in order to encourage fresh investment in the club.
Ticketus struck a deal with Rangers owner Craig Whyte that entitles the London based agency to 100,000 season tickets over a four year period.
With a mountain of debt, a potential tax bill of £49m and the club’s merchandising and catering hived off in long term deals season tickets are one of the few assets remaining at Ibrox.
Anyone taking over the club from Craig Whyte will inherit the Ticketus deal with Duff and Phelps going to court in an attempt to cancel the deal between Ticketus and Whyte.
Defending the contract, Ronald Clancy QC for Ticketus told the Court of Session in Edinburgh: “The real issue behind this application is the desire of the administrators to terminate the contract in such a way that if the company emerges from administration it would not have to be performed.
[poll id=”59″]
“As of today there are three, possibly four, investment proposals including one involving Ticketus. It is impossible to say that none of these could pave the way for the company coming out of administration as a going concern with the Ticketus agreement still in place.
“If parliament had intended administrators should have such a wide power to terminate contracts it would have granted those powers expressly.
“I would suggest it is not appropriate to make any ruling in the present state of play.”
CLICK HERE for St Mirren alarmed by Rangers link to takeover bid
CLICK HERE for Collum fails again over penalty call
Follow Video Celts on Twitter, Facebook and YouTube
