McGuigan’s Gym / Cyclone In Liquidation

Is Newco Celtic (Pacific Shelf FC) a “separate entity” to Celtic Boys Club too?

Maybe the lawyers can use that defence in the legal class action defe… oh wait sorry I forgot they have already expressed an intention to settle.

 

I'm not a fan of Frampton either but 70% of boxers took money from MTK. I know boxers who had been inactive for years and we're still on the payroll.

 

None run by Eddie or Barry Hearn though, so credit to them for that.

 

Only legal if it's done with the best of intentions. Directors are still liable for any negligence. Two examples for you:

I was a non-exec director of a company that was losing money for years, and stepped in as CEO to try and turn it around. Covid destroyed the income so we had a perfectly legit reason to crash the debts and move into another limited company - you could argue "we did our best and Covid ruined it", but I couldn't stomach that. Laid people off but the company's still there, paying its debts down (most of which were to the original founder - couldn't stiff him given all he did) but otherwise it's mostly intact. There's always a way.

In my current job a client tried to do a pre-pack admin this year and sell the assets to themselves, dump all the debts including ours - but hadn't read their contract with us that said we owned all their software IP until they paid in full. Which they now have. Otherwise they were going to sell a list of customers to themselves but nothing to serve them with. They'd be on the wrong end of the civil law if they'd tried to go ahead.

 

The only way to protect is contracts as you state and securing any advance on assets.

The directors are always going to claim they act with good intentions and it is shocking how many people walk away from debt and start again almost immediately.

A hall of fame promoter has form in this area.

 

The one thing my board refused to entertain, ever, was personal guarantees on any debts. When Covid loans came into being we qualified for 250k overnight that would have kept everyone employed, but needed our own names on them. Bouncebacks didn't so we took one of those straight away (to pay off the taxman!).

You wonder why the likes of Calzaghe's lawyers didn't insist on personal guarantees from said hall of fame promoter. I mean crashing the company over a failed promotion is understandable to a degree - if there's no cash there's no cash. But said promoter isn't in the poor house.

No wonder said promoter enjoys cheap cash in foreign climes now

 

I know several boxers who require their purse to be deposited into their bank account before they enter the ring.

 

Stay classy as always.

The harry Dunn's themselves told one of their many victims to take it up with the old club, they're not responsible.

 

You realise that those “victims” hadn’t and have not been through a court process with a court judgement backing their claim? Would you pay compensation to someone who has no legal basis for claiming compensation.

Understand the facts before you comment. What’s not classy by the way? It was a genuine question around Newco Celtic’s corporate structure.

 

I've no dog in this particular fight but my other half was stationed outside Auchenhowie for weeks waiting on press conferences and stuff - plenty people had proper claims into the Rangers administrators back in the day, over 150 if I remember right. The supporters' fighting fund paid a lot of them off, to their credit.

It was all public and documented though. Just as the Celtic payoffs will be when their annual accounts have to mention it.

 

Have the courage of your convictions mate, we both know what you meant and were alluding to, it's always the same stuff. Which is disgusting, and neither here nor there, but oldco had more than their fair share of scumbags up to no good too.

 

“Oldco” didn’t knowingly hire any abusers. Newco Celtic did. Jock Stein personally rehired Jim Torbett after initially dismissing him for abusing kids in the boys club. When Torbett left a second time another known abuser in Frank Cairney was recruited for the role. Moreover, Torbett then was giving responsibility for arranging club testimonials for players. Oldco Celtic’s captain Billy McNeill admitted that the abuse was an “open secret” throughout the club. Yet nothing was done about it.

There’s nothing “disgusting” about mentioning what happened. What is disgusting is that at Newco Celtic’s club AGMs they refuse to discuss this multimillion pound legal class action and instead add ridiculous items to the agenda such as how many penalties are awarded to Rangers.

 

The old Rangers hired Harry Dunn, John Chalmers, Gordon Neely, Kenneth Watson ... And who knows whoever else. Take it they were just unlucky and didn't have a clue. Every time. Trying to pretend it's just a Celtic problem and rangers were squeaky clean is nonsense and you know it. This is the same old club afterall that was charged with manslaughter, hardly the pin up club for outstanding behaviour and leadership. Using it as the go to for point scoring is also disgusting, but you know that.

 

It’s a Celtic problem fella. Seriously if you are disputing that you are clueless. One club is attempting to settle a legal class action after years of denial of responsibility. Another isn’t. One club has refused to acknowledge the problem publicly, the other has called for a full no holds barred independent enquiry into child abuse in Scottish football.

Rangers simply did not hire any coaches known to the club as abusers. Celtic hired at least a dozen who they knew to be abusers. And there was full knowledge of what was going on from the manager, to the board to the playing staff.

I don’t use it for point scoring. I cite it because I think it’s the most prolific instance of concerted, protected child abuse ever in global professional football and it sickens me. What’s sickening is that it happened and is swept under the carpet, not mentioning it as “point scoring”. There’s no point scoring, it’s about highlighting a real scandal, not a corporate reorganisation.

 

'Clueless' ? So all the people I mentioned weren't abusers ? Rangers didn't hire or employ one single abuser ? Take your head out the sand mate, of course they had bad apples too. A quick Google will literally confirm as much. To suggest otherwise is idiotic, problem is it doesn't suit the narrative though.

Trying to suggest it isn't now or usually used as point scoring ? Gies peace. We both know the score.