Ticketus do hold some sway over Whyte but clearly not enough to be able to deliver him. Similarly, D&P cannot do this either.
Ergo, bidders either have to decide whether or not they go down the legal route (which will be expensive, take time and offer no guarantees), the liquidation route (they may still have to pay him for assets so more legal action) or give him what he asks (which may be much more than they can either afford or want to pay).
People have to remember this is Whyte's day-job. Liquidating companies is what he does. Ergo, he will not have made many mistakes in his strategy to earn some coin in this debacle.
The bidders just have to ask themselves what they're willing to swallow.
As do we actually.