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Ticket touts wound-up after investigation

Published on 10 Feb 2010 under category: legal

Two ticket tout companies run by a disqualified director have been liquidated, following a government investigation.

The Companies Investigation Branch of the Insolvency Service closed down Terry Shepherd's Online Ticket Exchange Limited and Ticketmate Limited companies.

Both specialised in the tickets for entertainment and sports events, trading under the names of Theonelineticketshop and Theonlineticketexchange.

In the High Court hearing, it was concluded that both companies were being run by Mr Shepherd, who owed creditors £7,395,547 from the failure of two previous companies that were essentially a "repetitious operation" of the two firms under investigation.

Mr Shepherd had failed to supply half of the tickets sold between April 2008 and September 2009, after persistently making "gross misrepresentations" of the companies' abilities to acquire and supply tickets.

In addition, he had made £400,000 from illegal sales of tickets to football matches.

It was concluded that the two companies had caused public "suffering" and "would have continued to do so unless wound up."

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.