Kevin Campbell, Amongst Other Footballers, Face Bankruptcy

[The Esk]

Just had a quick look on Companies House Beta. Mr McMorrow resigned all his directorships on 21.11.14 and the only reappointment on 22.11.14 was JG Funding Ltd.
Pretty sure that one of the pre-conditions for the assignment of monies from broadcasting by the Premier League was that JG Funding had nothing to do directly or indirectly with James Grant Group et al.

Thanks mate, you are correct. I have edited my earlier post. Apologies.

 

[hibbo'sclass]

@the esk No need for an apology, in fact I should be thanking you as Kingsbridge Asset Management may just revive me from my current malaise -coffee and cigs don't seem to be doing it!!!
Suppose it could be a case of "if we take in house, we get to keep the fees".
Problem is that any of these schemes are untested in law until they are used so inherently risky.

 

[The Esk]

@the esk No need for an apology, in fact I should be thanking you as Kingsbridge Asset Management may just revive me from my current malaise -coffee and cigs don't seem to be doing it!!!
Suppose it could be a case of "if we take in house, we get to keep the fees".
Problem is that any of these schemes are untested in law until they are used so inherently risky.

It will be interesting to see if any of the players affected will be looking at the various compliance issues (assuming the products were sold at the time of common ownership of both the sports management company and the investment management company) aside from any liability to unreasonable or inaccurate tax advise.

From my own perspective I take the view that earned income or capital should only be subjected to minimal investment and tax compliance risk.

I am happy to take investment risk inside my business but not outside - if that makes sense.

 

[Zatara]

Was on 35k a week for us....

Then went into music business i think

TBH, I was wondering how Campbell had £7m. We must have been paying him over the odds ........

 

[hibbo'sclass]

It will be interesting to see if any of the players affected will be looking at the various compliance issues (assuming the products were sold at the time of common ownership of both the sports management company and the investment management company) aside from any liability to unreasonable or inaccurate tax advise.

From my own perspective I take the view that earned income or capital should only be subjected to minimal investment and tax compliance risk.

I am happy to take investment risk inside my business but not outside - if that makes sense.

Para 1. Mr McKee was an IFA per Companies House, so on the face of it an intermediary rather than promoter of any scheme. Per the original post, if he made the investors aware of the risks (in writing) and the need to have a balanced portfolio, so he may well have no case to answer. Not even certain that IFA's had to disclose commissions back in the day, but if they did would think they are covered. May be wrong but time will tell. By the way, Kingsbridge as it was formerly known will be wound up by way of liquidation in 2 days time if everything goes to plan. Now called. Formation Asset Management Ltd.

Para 2. Conservative is best and leads to less problems.

Para 3. If you can't take a considered risk on the company's money, where's the fun in life.

 

[Chang Elephant]

No. Why would you say that?

To make Hibbo spend all afternoon researching it ?

 

[hibbo'sclass]

@Chang Elephant No mate. 20 mins sorted this one... Probably