VMS Live 2011 Limited (“2011”) & VMS Live (Venues) Limited (“Venues”) – both in Administration (“the Companies”)
Information for Ticketholders
Hugh Jesseman and Steve Illes of Antony Batty & Co LLP were appointed Joint Administrators of the Companies on 15 July 2020. The appointment was made by the Directors of the Companies owing to the Companies’ insolvency.
The Companies provided services promoting events at various venues and received payments from customers for certain events on behalf of the agencies issuing tickets, and the venues and artists as appropriate. Hull Box Office was an online booking website operated by “2011”, based on the information available to us, providing tickets for sale on behalf of various ticket agencies.
The Role of the Joint Administrators
As previously stated, the Companies are insolvent and, by definition, cannot meet their liabilities in full, to potentially include any refunds which might be due to ticketholders. Part of the role of the Joint Administrators is to investigate the conduct of the Companies prior to Administration, and to identify/recover assets which might be available to enable a distribution to creditors of the Companies, including ticketholders as appropriate, after the costs of the Administration.
The Joint Administrators are currently reviewing all the available accounting records and financial information to assist in this investigation process. It has been indicated that there is a potential shortfall to creditors, including ticketholders, from monies received in relation to specific events. However, it is too early to be able to identify specifically how much this shortfall might be, or what events this shortfall particularly relates to.
At present, therefore, the Joint Administrators cannot state what monies might or might not ultimately be available to refund to any specific ticketholders, if this might be possible, nor how much might ultimately be available in total.
Current Advice for Ticketholders of Cancelled Events
In the meantime, the Joint Administrators have been advised that where an event is cancelled, ticketholders should approach the ticket issuer in the first instance to establish whether a refund would be available under the relevant terms and conditions.
Alternatively, ticketholders who have paid by credit or debit card for events which have been cancelled may seek refunds from their card issuer. Whether or not the issuer will be able to provide a refund will depend on the terms of the card agreement.
How to Find Out if an Event is Proceeding
The Joint Administrators are seeking to make arrangements to allow as many events to proceed as possible, and in these cases, ticketholders should not be affected. Ticketholders should contact the ticket issuers directly to confirm the position.
(Dated 29th October 2020)