Dream tickets goes bust but could people challenge the insolvency?

UK holiday company Dream Ticket went into administration on Monday 23rd May 2011 leaving over 4,000 holidaymakers’ holiday plans in doubt.

Luxury holiday company Holidays Please has however uncovered details of the insolvency that call into question how the how sale was handled. They found that the sale of £30m turnover Dream Ticket was effectively “done and dusted” within 48 hours with just one company being able to fulfill the criteria in a 24 hour bidding process.

And the company that managed to get notice of the sale and be the only company to meet this 24 hour deadline?

They are a company called Tropical Sky and it just so happens that their auditors were the company appointed to run the bidding process.

If the sale process is found to have been a closed shop rather than a fair and open process then the creditors, customers and employees of Dream Ticket may have a claim against the people handling the administration.

For the full investigation and to see the report visit Dream Ticket or Holiday nightmare?

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