FW loses £2m lawsuit against Ricky Burns

[DazDiCanio]

2 sides and all that

http://www.allegedly.com/news/warren- ... burns.html

[Parson Cross]

It's a hollow victory.
Let's not forget what would have happened had the reverse judgement been handed down.
Ricky needs to take comfort from that because FWP owes him £102k but the Company is liquidated whereas Ricky owes FW £73k personally in unpaid commission.
As usual the devil is in the detail.

[palooka]

I sometimes think I'm living in wonderland.

[Crazyboy]

It's a hollow victory.
Let's not forget what would have happened had the reverse judgement been handed down.
Ricky needs to take comfort from that because FWP owes him £102k but the Company is liquidated whereas Ricky owes FW £73k personally in unpaid commission.
As usual the devil is in the detail.

it makes me feel sick mate.

Parsons you are very much in the know from a legal perspective, does this sound fair or right to you?

Forget for a second the legality of it....straight question

[freddydoesdallas]

2 sides and all that

http://www.allegedly.com/news/warren- ... burns.html

Wow, that is a character assassination of Burns and obviously misses the opposing remarks from the judge.

It does make me wonder though, do promoters see the punters who attend fights as 'fans' of the promotional outfit rather than the fighters? Why else would they even make a comment on this? If i was a big Burns fan, i'm not going to care what is written here. If i'm a fan of boxer a, b, c, d etc it wouldn't make me change my view of Burns either.

I don't really get the value of this press release is pretty much what i'm trying to say

[JimJim2009]

Embarrassing attempt at saving face by fwank. Bottom line is he sued Ricky for two million and lost. Some of the insight this judgement reveals into his operations is very damaging, it's not the sort of thing you want being made public. The judge questioned his ability to make a profit from boxing promotion and confirmed the TV channel is losing money hand over fist, save for a benefactor propping it up with cash injections. I imagine folk will be laughing out loud at matchroom.

[black panther]

If a company went into liquidation it means the debt will be written off, right?

At times like this I really hate the laws of this country as it's clear whose in the wrong and whose in the right but legalities mean said party will get off scott free. I hope the BBBofC does the right thing but I won't hold my breath.

[palooka]

Boxers should create a limited company when they turn pro in order to protect themselves from litigation and being chased for debts- what is sauce for the goose ought to be sauce for the gander.

[JimJim2009]

If a company went into liquidation the means the debt will be written off, right?

At times like this I really hate the laws of this country as it's clear whose in the wrong and whose in the right but legalities mean said party will get off scott free. I hope the BBBofC does the right thing but I won't hold my breath.

On occasions like this the board don their brown underpants and duck. And that's it.

[Josh1111]

Boxers should create a limited company when they turn pro in order to protect themselves from litigation and being chased for debts- what is sauce for the goose ought to be sauce for the gander.

This would be a very interesting way of doing it actually. Wonder if any current boxers work like this?

[stujones]

Yeah - going to tread very carefully here but one does wonder the reason and timing behind FWP liquidation. Reminds me of the business with Setana/SN and then Joe/SN.

Maybe we should do a poll for future names of Queensbury.

[palooka]

Duck n dodge promotions?

[stujones]

Duck n dodge promotions?

Well was thinking he could don a skirt and called it Frankie Warren Promotions.... but then..... maybe not!

[lefty]

Duck n dodge promotions?

Frank told me to tell you that you'll be hearing from his lawyers.

[Parson Cross]

Crazyboy

Fair ? No.
Right ? Sadly yes.

It just underlines that fighters should take utmost care before signing contracts.
The best way is to get a good manager, or employ a Lawyer.
Most won't do it as they see it as money badly spent.
If nothing goes wrong you have bought peace of mind if things do go wrong you should be fully protected.

Most fighters who are hitting the big time would set up a Limited Company and it would be the Company negotiating the purse and then the Company would pay the fighter a wage - and a share divi when appropriate to maximise the tax incentives.

I am awaiting the Boards take on this.
How many licences has Mr Warren obtained now in various trading titles ?
Sad situation but fighters still get attracted to him like bees around a honey pot.

[Crazyboy]

Crazyboy

Fair ? No.
Right ? Sadly yes.

It just underlines that fighters should take utmost care before signing contracts.
The best way is to get a good manager, or employ a Lawyer.
Most won't do it as they see it as money badly spent.
If nothing goes wrong you have bought peace of mind if things do go wrong you should be fully protected.

Most fighters who are hitting the big time would set up a Limited Company and it would be the Company negotiating the purse and then the Company would pay the fighter a wage - and a share divi when appropriate to maximise the tax incentives.

I am awaiting the Boards take on this.
How many licences has Mr Warren obtained now in various trading titles ?
Sad situation but fighters still get attracted to him like bees around a honey pot.

Glad i'm not involved...

Thanks for explaining mate, appreciate that.

[Sklar]

Crazyboy

Fair ? No.
Right ? Sadly yes.

It's not right just because it's the law. The law is wrong but The Law is always right.

[ALI]

2 sides and all that

http://www.allegedly.com/news/warren- ... burns.html

He's a trier alright, i doubt Fwank will never learn you cant polish a turd.

[Parson Cross]

Sklar,
I think that would be a weak summing up statement in front of the Judge.

[Loynesy]

If you read the actual judgement; it makes pretty damning reading for w arren. The board will do nothing again of course.

[Parson Cross]

It does mate - but moral victories don't pay bills.

[Sklar]

Sklar,
I think that would be a weak summing up statement in front of the Judge.

It would but I'm not stood in front of a judge. All I'm saying is that in my eyes not all laws are right. Just an opinion.

[lefty]

If you read the actual judgement; it makes pretty damning reading for w arren. The board will do nothing again of course.

Have you got a link to it at all mate? Thanks.

[domjon]

If you read the actual judgement; it makes pretty damning reading for w arren. The board will do nothing again of course.

Have you got a link to it at all mate? Thanks.

http://www.matchroomboxing.com/wp-conte ... dgment.pdf

sad reading tbh, got to feel for Burns

[lefty]

If you read the actual judgement; it makes pretty damning reading for w arren. The board will do nothing again of course.

Have you got a link to it at all mate? Thanks.

http://www.matchroomboxing.com/wp-conte ... dgment.pdf

sad reading tbh, got to feel for Burns

Thanks mate. I appreciate it