http://www.fighthype.com/news/article12442.html
On May 18, 2012 VisionQwest Accountancy Group filed a federal lawsuit against boxing promoter Bob Arum and Top Rank, Inc., as well as Michael Koncz who acts as the Business Advisor of boxer Manny "Pacman" Pacquiao for interfering with a contractual relationship and defamation.* VisionQwest contracted with Mr. Pacquiao to perform various tax and accounting functions, and to review the financial records prepared by Top Rank on each fight from 2005 and all forward fights through a co-promotion agreement between Top Rank and Pacquiao.* VisionQwest was abruptly terminated by Pacquiao based on interference tactics and false allegations made by Michael Koncz, Bob Arum, and Top Rank against VisionQwest.*
The VisionQwest complaint specifically alleges that Bob Arum, Top Rank, Inc., Michael Koncz, and other Defendants: intentionally and negligently caused interference with the contract and with the contractual relationship between VisionQwest and Pacquiao, as well as VisionQwest's prospective economic relations; violated unfair business practices; and defamed VisionQwest.
Over the years of 2010 and 2011 VisionQwest spent hours going over contracts and financial documentation prepared by Top Rank.* The firm, after careful consideration and review notified their client that the documents being prepared and presented by Top Rank were unreliable.* The firm presented the findings to Mr. Pacquiao, as well as other tax matters.* Mr. Pacquiao, upset by the findings, entered into a new contract with VisionQwest, to investigate his contracts with Top Rank and evaluate whether he was owed funds.* Press releases were issued that Michael Koncz would no longer be involved in a business advisory role and that all business issues would be handled by VisionQwest.* Bob Arum, Top Rank, and Michael Koncz thereafter attempted to interfere with the relationship by, among other things, making a series of defamatory statements regarding VisionQwest, designed to persuade Mr. Pacquiao to terminate his contractual relationship with VisionQwest.*
VisionQwest has previously filed suit against Manny Pacquiao and MP Promotions USA, Inc. for breach of contract and non-payment of fees.* The case has been remanded from Federal Court back to California state court.
Why is it always Fighthype that is reporting these things? and only fighthype?
also what happen to there supposed case against Manny?
fighthype is on the money gay team payroll, i thought you knew?
As Manny continues to get expose. The 40mil will start looking better each day that goes by. Manny is putting himself into a corner. First he ducked a fair 50/50 split with a generous 14day cut off with all of Manny's demands met. Then Manny later loses those opporutinitys to full testing and a lesser split. Now Manny has hold out for a 40m flat. Later when the Vision Quest, exposed by Bradley, Weak PPV turnout, and tax issues. Manny problably end up holding out on a 10mil flat fee.
If Vision Quest findings could turn really ugly, if devestating enough, could prop Arum too sue Manny and pretty much destroy Manny.
(Please excuse my grammar and spelling):o
last i checked Pacquiao signed the paper twice do your research floomo! besides ya boy Royd has no one else to fight!
Wow, this could get interesting. If this goes to court it could prompt Visionqwest to reveal its findings and that could be a long day for Top Rank.
It doesn't take a genius to figure out why ODL, Mayweather, and now Cotto have chosen to leave Top Rank at the height of their marketability.
Manny will be resenting that statement.
Lol whose worse. A guy who has been ripping off fighters for decades or an accountancy group who got stiffed by Pacquiao.
Yeah Arum is worse no doubt. But VisionQwest seem like they're just out for the loot too. Hopefully this whole situation will wake Manny up to what Arum is really about, he'll leave him and then the Mayweather fight is on. Something good could come out of it.
VisionQwest wasn't up to Arum's professional standards, maybe.
But surely he wouldn't have a problem if Pacquiao hired someone like Ernst & Young instead to go over his finances?
Do it Manny.
Wow, this could get interesting. If this goes to court it could prompt Visionqwest to reveal its findings and that could be a long day for Top Rank.
It doesn't take a genius to figure out why ODL, Mayweather, and now Cotto have chosen to leave Top Rank at the height of their marketability.
I don't know who are the worst leeches. Arum or VisionQwest? Clearly they're cut from the same cloth.
Lol whose worse. A guy who has been ripping off fighters for decades or an accountancy group who got stiffed by Pacquiao.
As Manny continues to get expose. The 40mil will start looking better each day that goes by. Manny is putting himself into a corner. First he ducked a fair 50/50 split with a generous 14day cut off with all of Manny's demands met. Then Manny later loses those opporutinitys to full testing and a lesser split. Now Manny has hold out for a 40m flat. Later when the Vision Quest, exposed by Bradley, Weak PPV turnout, and tax issues. Manny problably end up holding out on a 10mil flat fee.
If Vision Quest findings could turn really ugly, if devestating enough, could prop Arum too sue Manny and pretty much destroy Manny.
(Please excuse my grammar and spelling):o
Wow you could see the future....
As Manny continues to get expose. The 40mil will start looking better each day that goes by. Manny is putting himself into a corner. First he ducked a fair 50/50 split with a generous 14day cut off with all of Manny's demands met. Then Manny later loses those opporutinitys to full testing and a lesser split. Now Manny has hold out for a 40m flat. Later when the Vision Quest, exposed by Bradley, Weak PPV turnout, and tax issues. Manny problably end up holding out on a 10mil flat fee.
If Vision Quest findings could turn really ugly, if devestating enough, could prop Arum too sue Manny and pretty much destroy Manny.
(Please excuse my grammar and spelling):o