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BetonSports liquidators to distribute players few cents on the dollar |
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After circulating emails to 63,000 potential creditors and with around 8,000 claims received, Peter Wastell and Nigel Hamilton-Smith of Vantis Plc, said that while they are not in a position to comment on the quantum and timing of any dividend distribution to creditors, based on current knowledge of the BetonSports affairs, they can anticipate that any distribution to creditors will not be more than a few cents on the dollar. UPDATE: OSGA claims on his blog that the BetonSports assets available to refund players fall over $25 million short of their total obligations, confirming that the group of online bookmakers operated by BetonSports were nothing more than a glorified Ponzi scheme where new deposits covered payments requests from old customers. Date published: 08 May 2008 Related rating updates |
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