Cyclone / Frampton Court Case

[jamesmcdonnell]

Pardon my ignorance, but isn't Frampton also going to likely get done at some point for wilful tax evasion and fraud?

[liamlion]

Really fascinating case.

The reading hadn’t been great for Frampton, as has been mentioned. Seems like McGuigan’s QC is aggressive and sharp.

Interesting to read Frampton’s accountant giving evidence denying any profit made from apparent false US tax declaration.

Will be interesting to see what questioning is put to McGuigan when he is on the stand.

I’m rooting for Frampton here. Be interesting to see how McGuigan responds.

Case adjourned until 6th October 2020 owing to time-tabling issues.

[Ruthless-RKO]

Trainer 'claimed Carl Frampton was finished' before fight

Judge told the atmosphere between boxer, coach and manager became toxic in last days working together

Carl Frampton's ex-trainer Shane McGuigan allegedly told a boxing associate that he was "finished" and had only one fight left in him, the High Court was told yesterday.

A judge also heard the atmosphere between the former world champion, his coach and manager Barry McGuigan in their final days working together was "toxic".

The manager at a gym where the fighter completed preparations for hometown shows in Belfast claimed Shane McGuigan said if Mr Frampton ever retired and then made a comeback he would not be training a "bum".

Paul Johnston made the allegations as he gave evidence in the multi-million pound courtroom showdown between the boxing stars.

Mr Frampton, (33), is suing Barry McGuigan for alleged withheld earnings during their eight-year partnership.

His action involves claims against Cyclone Promotions UK Ltd - of which Mr McGuigan was a director - over purse fees, broadcasting rights, ticket sales and merchandising.

A counter lawsuit has been filed against the boxer, accusing him of breach of contact when he split from the company in 2017.

Both men deny the respective allegations against him.

The court heard Mr Frampton used Monkstown Boxing Club in Co Antrim for final training before fights staged in Belfast.

Mr Johnston, project manager at the gym, said on previous occasions they were "a tight unit", with meticulous attention to detail.

But he claimed there was a completely different atmosphere in July 2017 when they used the facilities to prepare for an ill-fated fight against Andres Gutierrez.

The contest was ultimately called off when the Mexican slipped and injured himself in the shower on the eve of the bout.

Recalling events that week, Mr Johnston claimed: "There was a tangible, what I would say breakdown in the relationship. It seemed to be quite toxic."

Barry McGuigan was not present as often while Shane - his son and Mr Frampton's trainer - showed little interest in the fighter, he alleged.

He told Mr Justice Huddleston how it contrasted to previous occasions when the fighter and trainer were "almost joined at the hip".

"The camp wasn't happy, there was definitely an air of grievance or unhappiness with Carl, he wasn't a happy fighter," Mr Johnston said.

He set out an alleged conversation with Shane McGuigan in his office on the day of the weigh-in. "Shane started to talk quite negatively about Carl," the boxing club manager said.

"He said that he was finished, he said that at best he had one more fight in him, and that he didn't really want Carl (to) retire, spend his money and come back, that he wasn't going to train a bum essentially."

Asked by Gavin Millar QC, for Mr Frampton, his opinion on the alleged comments, he replied: "I was very concerned. This came from Carl's trainer, and somebody who was going to be in his corner the following night."

With Mr Frampton said to have been battling to make the weight for the bout, Mr Johnston alleged Shane McGuigan told him not to worry as it wasn't a title fight, and that they would pay Gutierrez "a few grand and he'll be happy".

Liam McCollum QC, representing Barry McGuigan and Cyclone Promotions, put it to him that Mr Frampton had already decided to leave the organisation before the Gutierrez fight.

"That would definitely impact on his attitude to what was going on," he said.

"If someone decided they are going to part company with the team it's going to affect the way they perform, and have a negative impact." He insisted Barry McGuigan had been at the gym and spoke to the fighter on friendly terms, while Mr Frampton was the one being distant.

But Mr Johnston replied: "I would suggest Carl shadowboxing in a ring, sitting on a bike making weight, he was doing what he was meant to be doing as a professional fighter.

"I think other people, and how they treated him was more different that what Carl was being."

Turning to the alleged conversation with Shane McGuigan on the day of the weigh-in, Mr McCollum contended that any discussions were earlier that week.

"He accepts that he wasn't entirely happy with the way he (Mr Frampton) was training.

"He thought his mind was elsewhere, and he said something to you like 'he looks sloppy, his body has been there but his head isn't there', in other words his head wasn't in the game.

"He said that if he wasn't going to commit to camp, his mind wasn't going to be there, what was the point of training him."

Disputing that version of events, Mr Johnston answered: "No, he said that he had one or two fights left in him, and that he wasn't going to train somebody who was a has-been essentially."

However, counsel insisted Shane McGuigan had no memory of making any such comments, nor was it his view.

"He never said he (Mr Frampton) was finished, he's never thought that," Mr McCollum added.

The court also heard Mr Frampton should have had no difficulty making the weight, but suddenly put on more than two pounds overnight.

"Shane McGuigan at no stage said that he was only one pound over, it wasn't a proper fight and he shouldn't bother trying to make the weight," Mr McCollum added.

But the witness responded: "That's different from what I heard him saying in the sauna room."

The case was adjourned to next month.

[Counter-puncher]

Trainer 'claimed Carl Frampton was finished' before fight


With Mr Frampton said to have been battling to make the weight for the bout, Mr Johnston alleged Shane McGuigan told him not to worry as it wasn't a title fight, and that they would pay Gutierrez "a few grand and he'll be happy".

sometimes amidst all the potential 'did he/ didn't he?' of hearsay, comes a phrase that carries the ring of truth to it....

[bynino]

I find it crazy that promoters still want to rip off the fighters. Shouldnt payment be transparent? Like heres you 3.5m for this fight etc. Is it the fighter who gets a bit paranoid they are being ripped off?

[high tower 1]

So correct me if I’m off here but rather than just pay frampton the full amount they made him “director” in the company where he would take less now then potentially get a massive reward in the future ?

Sounds like he got sold a pup if so. Will be interesting to see how this case pans out.

[Ruthless-RKO]

Court hears McGuigan ‘took cash’ to put fighters on Frampton undercard

Barry McGuigan took cash to put fighters on big televised Carl Frampton topped fight bill it was alleged in court today.

Promoter and manager Mark Dunlop told the court he gave £1,000 in cash to the former world champion to ensure his fighters secured slots on a ‘The Jackal’s’ first European title defence against Jeremy Parodi, a fight night that took place in October of 2013.

Testimony from Dunlop came as the legal action against his former manager McGuigan and Cyclone Promotions resumed on Tuesday.

Dunlop also claimed that the two fighters he had on the bill were only paid 50% of the normal commission despite selling £22,000 worth of tickets for an event that took place in Ocotber of 2013.

Counsel for McGuigan, Liam McCollum claimed the Irish boxing legend has no memory of the the cash payment and produced an email that said the two Dunlop managed fighters would be receiving standard 10% commission.

Dunlop claimed he was giving evidence because he had been approached by Frampton’s legal team after a moment of ‘loose lips’ in a boxing club recently.

Dunlop told the court he told people he had to pay to get his fighters on the bill and was contacted by counsel for Frampton about the incident.

“I wanted to have my fighters on the show… big, big event,” Mr Dunlop said. “I offered Mr McGuigan £1,000 to put the two boxers on,” he added before claiming McGuigan ‘accepted’ the offer.

Mr Frampton (33) is suing over the alleged non-payment of up to £6m in purse fees, broadcasting rights, ticket sales and merchandising during a four-year partnership that dissolved in acrimony in 2017.

A countersuit for breach of contract has been filed against the boxer. That claim involves more than £4m, it emerged at an earlier hearing.

During cross-examination, Mr McCollum put it to Dunlop that “Mr McGuigan has no memory whatsoever of any such arrangement.”

“From what you’re saying, you approached him and asked him: ‘Would you let the fighters on for £1,000?’.”

Mr Dunlop replied: “Yes, it was my suggestion, to get the fighters a slot on the show.”

Dunlop also testified he had no paperwork for either the ticket sales commissions nor the purse money.

Earlier in proceedings it was alleged a dispute over purse prompted a split from Matchroom, a split, it was suggested, that prompted McGuigan to become panicked, fearing he had done something ‘quite bad’ for Frampton’s career.

McGuigan’s former personal assistant Cherri Norman told the court things began to go ‘strange’ from 2013.

Ms Norman told the court the split came from purse conflict.

“They could agree on Carl’s purse and what Carl needed, (but) they couldn’t agree on what Barry wanted,” she alleged.

“Barry seemed to be asking for too much,” she added before alleging the move to self promote worried the Irish fight legend.

“It was probably the only time I saw him a little bit panicked,” Ms Norman said. “He was worried that he may have done something quite bad for Carl’s career.

“I think Matchroom could see there was a conflict between Barry’s role as manager and what he was trying to obviously get for himself.”

Under cross-examination by McCollum Ms Norman confirmed that she had not attended any meetings involving anyone from Matchroom.

Frampton is suing over the alleged non-payment of up to £6m in earnings.

A countersuit for breach of contract has been filed against the boxer.

The case continues.

[TopGun]

Thanks for the updates

[liamlion]

Thanks for the updates

Yeah, top man!

[Ruthless-RKO]

Thanks for the updates

Yeah, top man!

No worries guy. It’s a very interesting case.

[Roars Like Me]

So he treated Carl like one of his own sons it seems. If only they knew how much pocket money Dad really should have given them when growing up.

[Counter-puncher]

So he treated Carl like one of his own sons it seems. If only they knew how much pocket money Dad really should have given them when growing up.

[steve689]

Mark Dunlop is a top fella. Done wonders for his fighters.

[Ruthless-RKO]

Claims I stole Carl Frampton's money are ludicrous, says Barry McGuigan

Barry McGuigan told the High Court on Thursday he never stole, siphoned off or concealed money from Carl Frampton during their eight-year business relationship.

It ended on the day the north Belfast boxer failed to make the weight for a big fight, which was then abandoned after his opponent was “badly cut up” following a slip in the shower.

Mr McGuigan was quizzed over how all the companies he was involved with reported losses right up until Mr Frampton began legal proceedings, and whether he should have mentioned to the boxer about his disqualification as a company director.

Mr McGuigan, defending himself against accusations he and one of his companies siphoned off millions owed to Mr Frampton, said he had little do with accounts and was more interested in making sure fighters were in top shape and securing the best possible purse for them.

The High Court heard of the drama behind the scenes ahead of Mr Frampton’s aborted comeback fight following a Las Vegas defeat.

Fighting at featherweight, he failed to make the weight and Andres Gutierrez then had to pull out after injuring himself in a fall in a shower, the court heard.

That night was the last time Mr McGuigan saw Mr Frampton, who shortly afterwards terminated the contract, the court heard.

Mr Frampton (33) is suing over the alleged non-payment of up to £6m in purse fees, broadcasting rights, ticket sales and merchandising during their partnership. Both Mr McGuigan and Cyclone Promotions are named as defendants. A countersuit for breach of contract has been filed against the boxer.

Both men deny any wrongdoing.

After Frampton’s defeat by Leo Santa Cruz in Las Vegas, the first of his career, a comeback fight was organised to take place in Belfast. The court heard that Mr Frampton wanted it staged at Windsor Park, and said he would fight for nothing if held there, Mr McGuigan said, adding the suggestion was ludicrous.

It was due to happen at the Odyssey but the match up against Gutierrez in July 2017 ultimately marked the end of the relationship.

Under questioning from his own counsel, Liam McCollum QC, Mr McGuigan said the fight was an eliminator that would have given him another tilt at a world title.

There were problems, Mr McGuigan told the court. Mr Frampton was not communicating, was “grumpy” and was spending a lot of time on “long winded” telephone conversations, he said.

But the boxer was in shape and looked as though he was going to make the weight, according to his then manager. He did not.

On the day of the weigh in, Mr McGuigan said: “I found out that he was very heavy, much heavier and not going to make the weight.” He added: “He just ate too much, drank too much. He just was ill-disciplined and didn’t do it properly.”

Even if the fight had gone ahead and he won, it would not have counted as an eliminator because of his weight, the court heard.

“It just knocked the stuffing out of everybody, and it just dumbed down the fight in general,” Mr McGuigan said

On the morning of the weigh in, the Frampton team heard about Mr Gutierrez and his accident, and the fight was called off.

A meeting involving Mr McGuigan, representatives from Channel Five, Odyssey management and Mr Frampton was held, but the boxer would not agree to a new date, according to the defendant.

Mr McGuigan was asked if he saw Mr Frampton again.

“No,” he replied, adding that the company was then sent letters terminating the contract.

Mr McGuigan was also asked whether he had ever stolen, concealed or siphoned off any money from Mr Frampton.

“No”, “never” and “that’s ludicrous”, he replied to the three questions respectively. He further described Mr Frampton’s new managers MTK Global — who took another four fighters from Mr McGuigan’s stable — as “despicable”.

He successfully objected to the British Boxing Board of Control over the alleged poaching of the other four boxers, the court heard. Proceedings in connection with Mr Frampton are on hold until the conclusion of the High Court case.

“I was exonerated and allowed to get my percentage of their purses right to the end of their contracts,” Mr McGuigan said. During more than three hours of cross-examination, Mr McGuigan repeatedly said his only thoughts as a manager was to make sure Mr Frampton was always in top shape, that the right opponents were selected, and world titles secured, along with best purses.

Mr McGuigan also repeatedly said he rarely was involved in the details of negotiations and how money was disbursed, leaving that to accountants and, to an extent, his wife Sandra.

He concentrated on working with fighters in the gym and making sure they made as much as money as possible.

On several occasions during proceedings, the former world champion said he had difficulty reading the small print in documents before him, prompting presiding Mr Justice Huddleston to ask whether he wore glasses. He does not. During one break, Mr McCollum could be heard making reference to a “magnifying glass” in conversation with Gavin Millar QC, Mr Frampton’s counsel.

Mr Millar questioned Mr McGuigan over the loss of emails from a Cyclone Promotions account, suggesting a 2017 “email migration” was the cause. Mr McGuigan said he was unable to answer and did not remember any details about the “email migration”.

“Why is there never any documentation or emails supporting what you are saying,” Mr Millar pointedly asked during questioning over the 2013 negotiations that led to Mr Frampton parting ways with Eddie Hearn’s Matchroom and doing a deal with Mr McGuigan and Cyclone Promotions. “This is the way the business works,” Mr McGuigan replied. That deal — crafted after the then 25-year-old boxer had defeated Kiko Martinez to secure the European title — meant Mr McGuigan, and his company, was effectively both manager and promoter, the court heard.

The split from Matchroom was done at Mr Frampton’s suggestion, Mr McGuigan insisted.

Mr Millar asked him whether he had “bad mouthed” Matchroom by claiming it withheld attendance-related bonuses from the Martinez fight and also whether Cyclone failed to pass on details of a proposed four fight deal.

“I did not bad mouth Matchroom,” said Mr McGuigan, adding that details of the deal were passed on to Mr Frampton. Further, Matchroom wanted to put Mr Frampton on the undercard of a fight in Hull and did not want to concentrate on Belfast, Mr McGuigan argued.

Mr Millar put it to the defendant that Mr McGuigan also steered Mr Frampton into a position where he ended up switching accountants to ones working for Cyclone who would not object to the company controlling the finances and purses.

“The truth is you did not want the involvement of independent accountants working on behalf of Mr Frampton,” Mr Millar said.

“That is wrong,” Mr McGuigan replied.

Mr McGuigan was also questioned about the various companies he was involved in, with Mr Millar stating that all lost money until Cyclone reported a profit after the first hearing in the present action in February 2018. He also asked Mr McGuigan why he did not tell Mr Frampton about his and wife Sandra’s 1996 five year disqualification as company directors. Mr McGuigan said he did not think it was relevant.

Earlier, under questioning from Mr McCollum, details emerged of three fights in the US organised in partnership with legendary fight promoter Al Hayman, including two against Leo Santa Cruz. Mr Frampton won the first in New York, then lost a rematch in Las Vegas. The purses were $1.6m and $1.75m.

The defeat in Las Vegas led to the need for a comeback and the ill-fated Gutierrez non-fight in July 2017.

The hearing continues.

[Counter-puncher]

Mr McGuigan also repeatedly said he rarely was involved in the details of negotiations and how money was disbursed, leaving that to accountants and, to an extent, his wife Sandra.


Mr Millar questioned Mr McGuigan over the loss of emails from a Cyclone Promotions account, suggesting a 2017 “email migration” was the cause. Mr McGuigan said he was unable to answer and did not remember any details about the “email migration”.

“Why is there never any documentation or emails supporting what you are saying,” Mr Millar pointedly asked during questioning over the 2013 negotiations that led to Mr Frampton parting ways with Eddie Hearn’s Matchroom and doing a deal with Mr McGuigan and Cyclone Promotions. “This is the way the business works,” Mr McGuigan replied. That deal — crafted after the then 25-year-old boxer had defeated Kiko Martinez to secure the European title — meant Mr McGuigan, and his company, was effectively both manager and promoter, the court heard.

Mr Millar put it to the defendant that Mr McGuigan also steered Mr Frampton into a position where he ended up switching accountants to ones working for Cyclone who would not object to the company controlling the finances and purses.

“The truth is you did not want the involvement of independent accountants working on behalf of Mr Frampton,” Mr Millar said.

“That is wrong,” Mr McGuigan replied.

He also asked Mr McGuigan why he did not tell Mr Frampton about his and wife Sandra’s 1996 five year disqualification as company directors. Mr McGuigan said he did not think it was relevant.

Mr McGuigan also repeatedly said he rarely was involved in the details of negotiations and how money was disbursed, leaving that to accountants and, to an extent, his wife Sandra.




Mr Millar questioned Mr McGuigan over the loss of emails from a Cyclone Promotions account, suggesting a 2017 “email migration” was the cause. Mr McGuigan said he was unable to answer and did not remember any details about the “email migration”.




Mr Millar put it to the defendant that Mr McGuigan also steered Mr Frampton into a position where he ended up switching accountants to ones working for Cyclone who would not object to the company controlling the finances and purses.

“The truth is you did not want the involvement of independent accountants working on behalf of Mr Frampton,” Mr Millar said.





He also asked Mr McGuigan why he did not tell Mr Frampton about his and wife Sandra’s 1996 five year disqualification as company directors. Mr McGuigan said he did not think it was relevant.

[maverick23]

Thanks for posting Ruthless!

So Barry’s wife was looking after the financials and there’s minimal documentation (emails or otherwise) to support what Barry says. Doesn’t paint a good picture of him.

Also makes you wonder whether Frampton would have left Matchroom - by the sound of it he wasn’t aware of some of the offers and plans of Matchroom.

We should have something similar to the Muhammad Ali act over here whereby where people act as both promoter and manager - there’s a massive conflict of interest.

[Coco]

My prediction is that McGuigan will win he case but come out looking terrible.

But then if Frampton has made him millions he will be able to live with that!

[Onamastus]

What did the McGuigan's do in 1996 I wonder?

[Ruthless-RKO]

What did the McGuigan's do in 1996 I wonder?

Done some digging..

McGuigan barred from being company director - Fri, May 17, 1996, 01:00

THE former world boxing champion, Barry McGuigan, and his wife, Sandra, have been banned from being company directors for five years.

Neither of them was in the High Court in Belfast yesterday when Master Basil Glass said that their conduct as directors of Barrandra Ltd, formed to promote the former champion, made them unfit to be concerned in the management of a company.

The application followed the collapse of Barrandra - an amalgam of the couple's first names - with debts of £80,000.

Mr Michael Keogh, defending, said that the McGuigans admitted failing to keep proper accounts, but they denied inferences of wrongdoing in relation to allegations of misappropriating company funds and assets. He said that Mr McGuigan had allowed company expenditure to become mixed up with personal spending.

Barry admits that they fell into the habit of paying personal bills out of the company's bank account", said Mr Keogff. "He denies any intention to misappropriate company funds, but admits - it was unbusinesslike."

Master Glass asked about motoring fines, life insurance and medical expenses, which had been classified as company expenditure.

Mr Keogh replied: "His accountant weeded out the personal expenditure at the end of each year. But when a company becomes insolvent in the middle of a trading year, it is then too late to do the weeding out."

Master Glass asked about an indemnity which Barrandra granted Mr McGuigan in relation to the award of £450,000 in libel damages to his former manager, Mr Barney Eastwood.

Mr Keogh said that, while Mr McGuigan was the celebrity defendant, a corporate body with deep pockets - Channel 5 Video - had been the main target. An appeal against the libel award had been abandoned because the corporate body was anxious to settle the matter.

Mr Brian McLoughlin, for the Department of Economic Development, which applied for the disqualifications, said that the McGuigans bore equal responsibility for the failings in the management of the company.

Master Glass said that disqualification ranged from two to 15 years and in the circumstances be felt that five years was an appropriate period.

[Counter-puncher]

My prediction is that McGuigan will win he case but come out looking terrible.

bang on mate

the behaviours that are set out in the case are pretty damning but maybe not legally compromising, though i'm no expert on that side, but it's pretty clear there was (at very best) a lot of laxness in their business practises. The more cynical may well see much of it as deliberate rather than simple incompetence (ask the question who happens to benefit from this appearance of laxness and poor record-keeping/ naive 'ignorance' on Bazza's part).

As the post ruthie just made on the previous disqualification shows, it's hardly bazza's first time around the campfire, and yet there are many parts of the current case where he seems to rely on some kind of 'ignorance' defence, and also relies on the reader actually believing that he was really willing to have the financials at such an arm's length and not get involved himself. this is a man who has been involved in multiple court cases around financial disputes, and yet thereafter in his relationship with Frampton he still (apparently) kept himself unaware of the details. Suffice to say I find that posture entirely unconvincing, to the point of considering it an insult to the intelligence of any adult or sentient being hearing it.

[Counter-puncher]

oh and I love the 'blame Sandra that was her area' defence, the last refuge of dodgy builders everywhere for decades

guarantee when that line comes out there's a wrong'un behind it

[Counter-puncher]

has it come out in the case yet exactly how many McGuigans were on the payroll and what they were doing for their 'salaries'?

[orbtastic]

What did the McGuigan's do in 1996 I wonder?

He was declared bankrupt wasn't he? That would preclude him from even holding a bank account for five years.

I was asked to look after one of the sons for an evening as he was there under the promoter and I had a press pass, I mean he must have been about 15 or something but I was asked to see he was ok and he was sitting next to me. Really nice lad, we were chatting about boxing and stuff and we got onto the subject of his dad eventually. He told me that they had gone through all that and had to sell their house and all the turmoil with the family etc. I think at that point he wasn't on SKY, he was still doing one of the cable shows like ProBox or whatever or had to go through switching channels. Either way it didn't sound much fun. He did give me his address to write to him but I'm usless at that sort of thing.

[Ruthless-RKO]

What did the McGuigan's do in 1996 I wonder?

He was declared bankrupt wasn't he? That would preclude him from even holding a bank account for five years.

I was asked to look after one of the sons for an evening as he was there under the promoter and I had a press pass, I mean he must have been about 15 or something but I was asked to see he was ok and he was sitting next to me. Really nice lad, we were chatting about boxing and stuff and we got onto the subject of his dad eventually. He told me that they had gone through all that and had to sell their house and all the turmoil with the family etc. I think at that point he wasn't on SKY, he was still doing one of the cable shows like ProBox or whatever or had to go through switching channels. Either way it didn't sound much fun. He did give me his address to write to him but I'm usless at that sort of thing.

Done some digging..

McGuigan barred from being company director - Fri, May 17, 1996, 01:00

THE former world boxing champion, Barry McGuigan, and his wife, Sandra, have been banned from being company directors for five years.

Neither of them was in the High Court in Belfast yesterday when Master Basil Glass said that their conduct as directors of Barrandra Ltd, formed to promote the former champion, made them unfit to be concerned in the management of a company.

The application followed the collapse of Barrandra - an amalgam of the couple's first names - with debts of £80,000.

Mr Michael Keogh, defending, said that the McGuigans admitted failing to keep proper accounts, but they denied inferences of wrongdoing in relation to allegations of misappropriating company funds and assets. He said that Mr McGuigan had allowed company expenditure to become mixed up with personal spending.

Barry admits that they fell into the habit of paying personal bills out of the company's bank account", said Mr Keogff. "He denies any intention to misappropriate company funds, but admits - it was unbusinesslike."

Master Glass asked about motoring fines, life insurance and medical expenses, which had been classified as company expenditure.

Mr Keogh replied: "His accountant weeded out the personal expenditure at the end of each year. But when a company becomes insolvent in the middle of a trading year, it is then too late to do the weeding out."

Master Glass asked about an indemnity which Barrandra granted Mr McGuigan in relation to the award of £450,000 in libel damages to his former manager, Mr Barney Eastwood.

Mr Keogh said that, while Mr McGuigan was the celebrity defendant, a corporate body with deep pockets - Channel 5 Video - had been the main target. An appeal against the libel award had been abandoned because the corporate body was anxious to settle the matter.

Mr Brian McLoughlin, for the Department of Economic Development, which applied for the disqualifications, said that the McGuigans bore equal responsibility for the failings in the management of the company.

Master Glass said that disqualification ranged from two to 15 years and in the circumstances be felt that five years was an appropriate period.

[orbtastic]

Well yeah that's the first Google hit when you search "McGuigan bankrupt".

I am certain he was declared bankrupt at some point in the 90s, I remember the big breakfast had him on to cheer him up, the same way they did for Lewis after he lost to McCall and "this is your life" dropped him right after.