Football: Goldberg companies to go into liquidation
Thursday 11 March 1999
The entrepreneur is likely to face angry creditors during a series of meetings at the offices of David Rubin & Co, insolvency practitioners, in Finchley, north London, although Goldberg himself is the biggest creditor and the majority shareholder in each company.
The companies that will be folded are MG Investments Ltd, Sports Merchandising Corporation Ltd, Sports Management Corporation Ltd, Sports Management Corporation Group Ltd, Sports Management Consulting Ltd, Sports Marketing Corporation Ltd and Land Developments Corporation Ltd.
Rubin told the Independent that in each case Goldberg had invested in the companies but had not taken an active role in running them. Combined losses, he said, ran into millions but he could not be specific about the final amounts.
"There are substantial liabilities," he said. "We will know how substantial on Friday when all the statements of affairs are marshalled and put together. He is the largest creditor and he asked us to look at the companies, which we did. Our advice was that the companies are insolvent and they ought to be liquidated. He has taken that advice.
"Mr Goldberg was not running these companies. These were companies financed by him and run by other people and when he discovered that these other people might not have been running these companies as perhaps he could have run them, he then called us in to see what was going wrong.
"The problem is that with such a lot of money being haemorrhaged in these companies, it is perhaps the explanation as to why he couldn't put the money into Crystal Palace that perhaps it needed."
Asked if the losses were enough to break Goldberg financially, Ruben replied: "No, I don't think so. This is a very busy guy... but he has given us absolutely brilliant co-operation. He has given us all the documentation we would have needed, he has seen us at a moment's notice whenever we needed to see him for background information so we could do our job."
Ruben said his firm had been working closely with the administrators at Crystal Palace, where affairs had crossed over.
Goldberg was not available for comment.
Latest in Sport
Manchester United have two days to seal the transfer of the summer, Arsenal need to panic, Jose Mourinho right to blast Chelsea reluctance
Charlie Austin latest: Tottenham, Bournemouth and Newcastle among favourites to sign QPR striker
Anthony Martial transfer: Martial arts not in doubt but £36m is huge gamble by Manchester United
David De Gea: Manchester United goalkeeper's £29m move to Real Madrid off - because paperwork 'not done in time'
Manchester United manager Louis van Gaal does not get the luxury of time that was given to his predecessors
- 1 If you're not already angry about the migrant crisis, here's a history lesson to remind you why you really should be
- 2 David De Gea: Manchester United goalkeeper's £29m move to Real Madrid off - because paperwork 'not done in time'
- 3 Pansexual: What is it - and when did the term gain popularity?
- 4 A Chinese journalist has appeared on state television 'confessing' to causing the stock market chaos
- 5 Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
UN investigating British Government over human rights abuses caused by IDS welfare reforms
£30 - 38k (DOE): Guru Careers: We are seeking a digitally focussed Account Man...
£21000 - £30000 per annum: Recruitment Genius: One of the South East's leading...
£21000 - £22000 per annum: Recruitment Genius: A growing professional legal pr...
£24000 - £30000 per annum: Recruitment Genius: This exciting and disruptive co...