Rangers' Ticketus deal still stands
A judge has declined to give Rangers' administrators legal guidance on their bid to breach a £24.4million season ticket deal.
Lord Hodge said he had not been given sufficient legal information to allow him to make a ruling on the issue surrounding the club's Ticketus contract. The judge also declined to give Ticketus preferential treatment as creditors.
Duff and Phelps went to the Court of Session in Edinburgh last week to seek legal directions on whether they could tear up the club's agreement with Ticketus.
The investment firm's eight-figure cash injection allowed Craig Whyte to pay off the Ibrox club's bank debt and complete his takeover in May last year.
Ticketus insisted they have 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, stated that 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''.
Sale Sharks owner Brian Kennedy is one of the bidders interested in taking over Rangers, as administrators seek a buyer for the stricken Scottish champions.
He said: ''I am taking legal advice to find out what the court ruling means with regard to the indebtedness of Rangers Football Club and until that is clarified I will be making no further comment.''