Darren Ward -- one of the men responsible for the Andrea Bocelli concert fiasco -- has been declared bankrupt.
Mr Ward appeared at Oxford County Court to be made personally bankrupt by a district judge this week.
And, as a double blow for the former publican turned concert promoter, Mr Bocelli's agents yesterday announced they intend to start legal proceedings against Vipco, which was run by Mr Ward and business partner Mike Dandridge.
Official receivers will now be brought in to adminster Mr Ward's affairs but he stands to lose everything as adminstrators struggle to repay his debts.
Trading Standards officers say this has dire implications for ticketholders -- but could ultimately prove fruitful for the investigation as accountants will now be called in to trawl through Mr Ward's accounts.
Ian Marriott, of Oxfordshire's Trading Standards department, said: "In a way it is good news because reports will be made of where money has been, gone and come from. But, there will be the usual pecking order of people waiting to be repaid and, unfortunately, the ticketholders will be fairly near the bottom. I have low expectations of ticketholders getting their money back.
"What we mustn't forget, though, is that Mr Dandridge is equally liable."
Last week, the concert was officially called off by Mr Dandridge and Mr Ward, who admitted "things had snowballed" and they were in a "loss situation".
Mr Bocelli's management company, MT Opera and Blues, based in Bologna, Italy, has now officially announced on its website that the world-renowned opera star will not be coming to Oxford -- and is critical of Mr Dandridge and Mr Ward, who postponed, rescheduled and then cancelled the event.
The statement on the official Bocelli website reads: "We have been made aware from the press that the Oxford concert planned for July 10 has been cancelled.
"We want to underline that this is illicit behaviour and a contractual violation made by the Oxford promoters towards which we have undertaken a legal action.
"The artist is really very upset for what has happened and surely will do his best efforts in order to make this right."
Spokesman Barbara Vitalli was unavailable for comment yesterday, but staff at her office confirmed Mr Bocelli would be carrying on with his other scheduled UK dates, where there have been no organisational problems.
The Oxford concert was originally due to take place at the Kassam Stadium on April 30, but it was postponed just a few hours after Vipco vowed it would be going ahead "110 per cent".
Mr Ward and Mr Dandridge then announced the July 10 date, but failed to turn up for vital meetings with Oxford City Council.
Mr Dandridge refused to comment when the Oxford Mail called him yesterday. Mr Ward was unavailable for comment.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article