lol Warren is far from finished - He hasn't been trading under the name ''Sports Network'' for quite some time -He's know using the name ''Frank Warren''. He's probably trying to dodge some inland Revenue/tax payments due, and being the crafy old fox that he is he's using this ''administration'' as a loop hole to avoid it.
This law suit could go on for years - Calazaghe will get his money........when Warren is ready to pay him.
Joe was contracted to Sports Network and now it's gone bust.Basically Joe is ****ed and wont get a penny.Warren is just too smart for an Ordinary Joe.
So Frank is trading with the other companies and he moves on with his life.
Read the article... it's one of his companies
He called in the administrators to get out of paying Joe.. he will still be around, just under a different company name.
Yup... Joe's screwed I'm afraid. Good job he can get by without it. That sort of business has bugger all in saleable assets and unless the money is actually sitting in a company account somewhere, or they can track it having been transferred somewhere else recently, he won't see a penny of it.
I don't know if it works like this or not, but could Warren have just transferred his assets from one company to another, and then call the administrators?
Anyway, this is a disgraceful move by Warren. I won't buy another ppv with his name on it again.
I don't know if it works like this or not, but could Warren have just transferred his assets from one company to another, and then call the administrators?
Anyway, this is a disgraceful move by Warren. I won't buy another ppv with his name on it again.
Obviously Warren covered his tracks so well.They can investigate but remember Warren has a good legal team of his own.
I don't know if it works like this or not, but could Warren have just transferred his assets from one company to another, and then call the administrators?
It's not unheard of; the machinery exists to recover the money, but it's long drawn out process that will primarily benefit the lawyers.
Anyway, this is a disgraceful move by Warren. I won't buy another ppv with his name on it again.
To be fair, it's impossible to tell whether it's 'disgraceful' or not unless you know the numbers. If the company couldn't afford to pay it's debts (and it would hardly be unique in that regard at the moment) he may not have had any choice; he could have been prosecuted if he didn't call in administrators or liquidators if a creditor subsequently did.
It's not unheard of; the machinery exists to recover the money, but it's long drawn out process that will primarily benefit the lawyers.
To be fair, it's impossible to tell whether it's 'disgraceful' or not unless you know the numbers. If the company couldn't afford to pay it's debts (and it would hardly be unique in that regard at the moment) he may not have had any choice; he could have been prosecuted if he didn't call in administrators or liquidators if a creditor subsequently did.
Warren is a wealthy man, I just think he is giving Joe the run around.
Anyway, I think Joe will be out of retirement a lot sooner now.
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