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
Arturo Vidal to Manchester United: Midfielder set to force through move to Louis van Gaal's Red Devils - reports
Manchester United transfer news: Mats Hummels, Daley Blind and Thomas Vermaelen on radar as Louis van Gaal reveals he still wants to sign defender
Liverpool transfer news: Brendan Rodgers plans more Anfield signings this summer
Chelsea transfer news: Jose Mourinho confirms Fernando Torres is staying at Stamford Bridge
Sami Khedira latest: Real Madrid desperate to sell midfielder to Arsenal rather than lose him for free to Bayern Munich next summer
- 1 Pope Francis issues top 10 tips for happiness
- 2 Disney heiress Abigail disowns her share of family profits in West Bank company
- 3 The secret report that helps Israel hide facts
- 5 Israel's propaganda machine is finally starting to misfire
The secret report that helps Israel hide facts
Land for gas: Merkel and Putin discussed secret deal could end Ukraine crisis
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Boozy, ignorant, intolerant, but very polite – Britain as others see us
£400 - £550 per day: Orgtel: Financial Control Manager - Regulatory Reporting ...
£80000 - £90000 per annum + competitive: Progressive Recruitment: I am current...
£65000 per annum + 15% Pension, Health, Travel & Bonus: Progressive Recruitmen...
£55000 - £65000 per annum + Benefits: Progressive Recruitment: SAP BW/BO CONSU...