Begbies Traynor update on Premierbet administration

Following the sale of Heathorns and Premierbet to Jenningsbet at the end of 2007, a total of £33,000 had been apportioned to Premierbet Ltd. At that time, Jenningsbet had also agreed to make a further consideration of an amount equal to half of the benefit of tax losses relating to the Premierbet business. Begbies Traynor, the administrators of Premierbet Ltd, said that after further talks with Jenningsbet it is unlikely that such benefit will be obtained as the losses cannot be transferred.
“The prospects of a dividend to the creditors in this case will be greatly reduced,” stated Begbies Traynor in its progress report.