Ridsdale's missing £500K ?

Interesting story in the Guardian on line , link is below . Onwards and upwards CCFC

http://www.guardian.co.uk/football/2010 ... rdiff-city

First of many to come I would think mate.

First of many to come I would think mate.

Too right and I hope that the Police get involved coz it would make my day to see him get done for fraud and tax evasion !

First of many to come I would think mate.

dapper is doing a dirt digging story as we speak '' a real explosive exclusive''

First of many to come I would think mate.

dapper is doing a dirt digging story as we speak '' a real explosive exclusive''

just hope the tw*t gets all he deserves ? About time too .

Its nice to wake up to good news, and I have heard the thumb screws are being brought out for beginning of June.

Onwards and upwards.


Riddler Backwards and downwards

Cos WH Sports went into liquidation is he allowed to be a director of another company then ?

he's gonna be taken down!!

Cos WH Sports went into liquidation is he allowed to be a director of another company then ?

Technically Martyn WH Sports is a voluntary liquidation so it wouldn’t have an effect on any other directorships held by Ridsdale at present.

However, I believe that the liquidators have a responsibility to investigate the circumstances of all liquidations and you would think WH Sports has been flagged up as a little suspicious.

IMO Ridsdale’s only option is to pay off all debts in full, but even then I’m not sure he would be safe from further sanctions.

I understand , so going off on a slight tangent regarding the consultancy fees Riddler invoiced from CCFC into WH Sports then apart from himself who else at CCFC sanctioned and approved this and who set the fees ?

Tony

Have been told that sufficient monies to cover this debt is part of his severance pay.

So bloody wrong !!!

quote of the century from ridsdale in this article

"Maybe it's an accounting thing – I've never been through this before."

Tony

Have been told that sufficient monies to cover this debt is part of his severance pay.

So bloody wrong !!!

In other words then a gentlemans agreement between fellow rich men to make sure that the rich stay rich and the poor just plod on working our 9 til 5 jobs ? Let Riddler have a taste of the real world !!!!

Cos WH Sports went into liquidation is he allowed to be a director of another company then ?

Technically Martyn WH Sports is a voluntary liquidation so it wouldn’t have an effect on any other directorships held by Ridsdale at present.

However, I believe that the liquidators have a responsibility to investigate the circumstances of all liquidations and you would think WH Sports has been flagged up as a little suspicious.

IMO Ridsdale’s only option is to pay off all debts in full, but even then I’m not sure he would be safe from further sanctions.

Tony

All that "voluntary" means here is that the company wasn`t put into liquidation through the courts , but by a resolution of its shareholders with a liquidator being appointed by its creditors. The legal terminology is confusing as many people understandably think "voluntary" means "solvent" - WH Sports was (and remains) heavily insolvent , with far more liabilities than assets.

The liquidator will have , by no later than October last year (6 months after the date of liquidation) filed a report on the conduct of the WH Sports directors (in my experience of these things , it will have been a highly critical one) and it is then up to the government department involved (DBERR) to decide whether or not to prosecute and disqualify the directors from being directors or involved in the management of other companies in the future (can be for up to 15 years).DBERR have a max. of 2 years from the date of liquidation to take this action.

You make a good point that payment of the debts in full personally (and that would cost PR close to £500k with penalties , interest and costs added to the original debt) may not necessarily prevent a disqualification.

Sorry to be a bit technical in the response , but hope it clarifies the actual position a bit.

Keith

this was actually revealed by News of the World last year