Ashley's gambling habits

[manc-mag 1]

Supposedly lost 200k in spoof, worth a laugh

 

He didn't lose just his 'own' money, it was company money [sD] hence it was shareholders' money albeit the other 49% involved. The game was played to settle a dispute with the investment bankers over outstanding legal fees incurred by Merrill Lynch during the SD floatation.

 

I'm sure Freshfields/Mort nearly had to play some hard-ball to get Ashley to cough up his outstanding legal fees relating to the NUFC takeover. Didn't Mort make a special trip to Tyneside for reasons related to his debt/fees owed to Freshfields.

 

Unless there's a concrete & legally binding clause ordering him to actually fill a debt [ie. *the stadium debt, following an ownership change, for instance] kicking & screaming it would appear the man has a recalcitrant attitude towards other service providers at the top end of town, where his retail empire is concerned. I've already posted one instance involving Umbro, when he attempted to welch on a contractual deal by refusing to take a delivery of a massive shipment of replica shirts, and thus not pay his outstanding bill.

 

As well as being an unambitiousn club owner, there is distinct lack of honour in his operational methods/practices.

 

 

*albeit he whinged about it for long enough, including misling the public over the legal specifics of the debt payback ie. the 'banks were banging on the doors' claim.

 

To be honest, if he got a law firm and a bank to play a game of chance for their fees (whether he lost or not) then he was doing alright if you think about it. Can you imagine anyone else paying their solicitors that way? They'd be like "no, fuck off and just pay you cheeky bastard". The services will no doubt have already been rendered and he'll have had the benefit of them. Sounds like he was just trying to get them for free. He didn't, but he might have done if he'd won if that story has any credence whatsoever. And if he had you'd have to say that was a tremendous bit of business.

 

No harm in sticking it to investment banks and corporate law firms, it's all money for old rope.

[wykikitoon 20937]

Aye spot on

[scoular 0]

Aye spot on

Just off to ask my bank to spoof for my overdraft!

 

[manc-mag 1]

Aye spot on

Just off to ask my bank to spoof for my overdraft!

 

 

That's the point though, they'd tell you to fuck off. If the above story is factually correct however Ashley actually managed to get them to do just that, effectively. Just down to clout at the end of the day I suppose, and while I think it's morally incorrect with certain suppliers, like fuck would I be arsed if an investment bank or corporate law firm lost their fees over it.

[scoular 0]

Aye spot on

Just off to ask my bank to spoof for my overdraft!

 

 

That's the point though, they'd tell you to fuck off. If the above story is factually correct however Ashley actually managed to get them to do just that, effectively. Just down to clout at the end of the day I suppose, and while I think it's morally incorrect with certain suppliers, like fuck would I be arsed if an investment bank or corporate law firm lost their fees over it.

nor me

[Matt 0]

Considering how much he made on the floatation and where the shares are now, he should be paying them all 10 times what they were owed.

[Kitman 2207]

Supposedly lost 200k in spoof, worth a laugh

 

He didn't lose just his 'own' money, it was company money [sD] hence it was shareholders' money albeit the other 49% involved. The game was played to settle a dispute with the investment bankers over outstanding legal fees incurred by Merrill Lynch during the SD floatation.

 

I'm sure Freshfields/Mort nearly had to play some hard-ball to get Ashley to cough up his outstanding legal fees relating to the NUFC takeover. Didn't Mort make a special trip to Tyneside for reasons related to his debt/fees owed to Freshfields.

 

Unless there's a concrete & legally binding clause ordering him to actually fill a debt [ie. *the stadium debt, following an ownership change, for instance] kicking & screaming it would appear the man has a recalcitrant attitude towards other service providers at the top end of town, where his retail empire is concerned. I've already posted one instance involving Umbro, when he attempted to welch on a contractual deal by refusing to take a delivery of a massive shipment of replica shirts, and thus not pay his outstanding bill.

 

As well as being an unambitiousn club owner, there is distinct lack of honour in his operational methods/practices.

 

 

*albeit he whinged about it for long enough, including misling the public over the legal specifics of the debt payback ie. the 'banks were banging on the doors' claim.

 

To be honest, if he got a law firm and a bank to play a game of chance for their fees (whether he lost or not) then he was doing alright if you think about it. Can you imagine anyone else paying their solicitors that way? They'd be like "no, fuck off and just pay you cheeky bastard". The services will no doubt have already been rendered and he'll have had the benefit of them. Sounds like he was just trying to get them for free. He didn't, but he might have done if he'd won if that story has any credence whatsoever. And if he had you'd have to say that was a tremendous bit of business.

 

No harm in sticking it to investment banks and corporate law firms, it's all money for old rope.

 

I agree, but I think there must have been some upside for the bank in it somewhere. Maybe it was double or quits. If it ever happened.