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| Quote ="Wadski"Like a stain gained by not paying your debts?'"
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| Who gives a toss. It's not like anyone likes us anyway.
We killed Sheffield
We killed Paris
We ruthlessly crushed the dreams of Dewsbury and Hunslet to preserve our Superleague status
We have no crowds
We sign young players from Castleford to keep ourselves alive rather than develop our own
Ken Davy is a financial vampire who crippled Town to fuel his ambitions for the Giants
This court case won't make a blind bit of difference to anyone. The haters will hate whatever happens. They can all rot in hell for all I care.
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| It doesn't, it covers you via an insurance company who assess your claim and allow you to pay a premium for them to underwrite your case. Most cases can be brokered - as I said in an earlier post the premium forms where you offer the out of court settlement. So if the premium was 50k you may offer £55k out of court, ie the premium plus the court costs for 2 days in court. It's up to the claimant to accept OOC or choose to have a day in court, either way it costs Giants £50k + Pre insurance fees.
Your team not paying inland revenue cannot be insured against, because nobody in the industry will insurance against the Government because you don't win.
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| Loving the hypocrisy! Rolly eyes all round!
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| Oh dear, looks like illegally poaching Kopout cost you a fair bit more than you bargained
Well done Keith Mason
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| It is another shambles in Thewlis era sack him he is useless !
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| Rolly eyes will not pay The Revenue
Rolly eyes won't Cillit Bang THOSE stains.
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| Were the giants relying on Thewlis to buy this insurance? Hope he remembered.
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| Quote ="Wadski"It doesn't, it covers you via an insurance company who assess your claim and allow you to pay a premium for them to underwrite your case. Most cases can be brokered - as I said in an earlier post the premium forms where you offer the out of court settlement. So if the premium was 50k you may offer £55k out of court, ie the premium plus the court costs for 2 days in court. It's up to the claimant to accept OOC or choose to have a day in court, either way it costs Giants £50k + Pre insurance fees.
Your team not paying inland revenue cannot be insured against, because nobody in the industry will insurance against the Government because you don't win.'"
Did you offer an OOC settlement?
I've got a policy for my house contents, but if I don't follow due diligence (ie lock my door and turn the burglar alarm on) it wouldn't pay up if I was burgled. Insurance companies are THE experts when it comes to not paying out (after us, of course....there, I beat you to it)!
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| Quote ="wakeyrule"I think you misunderstand, its NOT the financial aspects of this sorry affair that carry most significance. Its the fact that the Giants have been shown to be underhand, lacking in ethics and morality, duplicitous, two-faced - call it as you will. The fact that the court case confirms Bradfords suspicions that he was tapped up, and that the RFL apparently knew and kept quiet about it exacerbate the stink around this whole sorry affair, and the fact that the Giants constructed a cack-handed excuse to sack him is beyond the pale.
All in all, the financial ramifications will be short lived, its the stain on your clubs reputation that will be harder to clear.'"
Confirmed Bradford suspicions? I think you'll find those were confirmed when we had to pay them compensation!
A Wakey fan wittering on about reputation- seriously I actually did laugh out loud when I saw that comment.
CCJs, breaches of cap, failure to deliver on new stadium promises, administration, crowd trouble....again.... How much is that suspended fine by the way....
Yep the giants will have such a tarnished reputation....
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| Quote ="jools"Confirmed Bradford suspicions? I think you'll find those were confirmed when we had to pay them compensation!
A Wakey fan wittering on about reputation- seriously I actually did laugh out loud when I saw that comment.
CCJs, breaches of cap, failure to deliver on new stadium promises, administration, crowd trouble....again.... How much is that suspended fine by the way....
Yep the giants will have such a tarnished reputation....'"
Well, as long as you're comfortable with it eh?
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| No, the legal adviser will have advised that and used a broker to find an insurance company to do that. The solicitors will have been paid out for their time from the policy.
ATEOD I can only speculate based on standard practice from the industry. Someone had to sign and pay the premium. If they went in bare then expect to be burnt.
Fair does to Keith. He had a case, based on things I read yesterday he had a strong case. Thewlis sending emails with with subjects like he did to his agent is just amateur. I hope the club will learn from this. A more professional approach is needed from several areas as the back of office is not matching the onfield.
I would love to get involved the business side of the club.
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| Hello,just having a chuckle to me self reading this,someone on here talks about insurance well i hope its in place because the total bill for this mess will be about 300K give or take a few shilling.
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| Quote ="jools"Confirmed Bradford suspicions? I think you'll find those were confirmed when we had to pay them compensation!
A Wakey fan wittering on about reputation- seriously I actually did laugh out loud when I saw that comment.
CCJs, breaches of cap, failure to deliver on new stadium promises, administration, crowd trouble....again.... How much is that suspended fine by the way....
Yep the giants will have such a tarnished reputation....'"
Nicely deflected,turn it round onto Wakie and pretend it hasn't happened
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| Quote ="BOYD2"Hello,just having a chuckle to me self reading this,someone on here talks about insurance well i hope its in place because the total bill for this mess will be about 300K give or take a few shilling.
'"
Out of interest, how've you arrived at £300k?
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| I'll chuck a penny into ye old troll pond!
Who's with me...?!
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| Your cheap BTE policy ( Before The Event) is very different to an expensive ATE (After The Event) Policy. You get a cheap policy based on you jumping through a set of hoops. You policy is cheap because the chance of payout is low based on thousands of people paying into the pot with a couple of payouts. An ATE policy is based on something that HAS occurred and will happen. The premium is much higher and therefore doesn't need the hoops.
I'm in Wakefield tomorrow and I'm happy for you to come into our offices and I will talk you through it face to face. PM me and I will set up an window....we have aircon!
Lets be clear here two things are important : 1. The club lost the case, 2. The club will face adverse publicity.
What isn't important is the financials as they should be covered.
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| So would I wadski it seems we are very very unwise shall we go and see Ken together.
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| Ginger ,there is the cost of the trial the Barristers the insurance pollicy Masons team will have put in place in case they lost.
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| Quote ="Wadski"I would love to get involved the business side of the club.'"
The whole of RL needs business acumen - not something I possess, but if you do then go for it. There are too many people involved who think they know what they're doing but in truth are out of their depth (I don't exclude the club I love from this), but I wonder if they keep real talent out as it would show them up for what they are - amateurs.
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| What is important is that we learn the lessons from this event so there's no repeat. There are other clubs that seem unable to do so. And equally, some fans!
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| Quote ="Wadski"Your cheap BTE policy ( Before The Event) is very different to an expensive ATE (After The Event) Policy. You get a cheap policy based on you jumping through a set of hoops. You policy is cheap because the chance of payout is low based on thousands of people paying into the pot with a couple of payouts. An ATE policy is based on something that HAS occurred and will happen. The premium is much higher and therefore doesn't need the hoops.
I'm in Wakefield tomorrow and I'm happy for you to come into our offices and I will talk you through it face to face. PM me and I will set up an window....we have aircon!
Lets be clear here two things are important : 1. The club lost the case, 2. The club will face adverse publicity.
What isn't important is the financials as they should be covered.'"
Love to, but you'd probably sell me something I didn't need - not that I'd ever pay for it, obviously!
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| I have some Rolly eyes. Will that do instead of. Quid?
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| You should wear a patch over one of them Wadski, that should sort it out in 6-8 months.
Also highly beneficial on Talk like a Pirate Day (September 19th!)
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| Wakeyrule. I'm not in insurance anymore - onward and upward. You are more than welcome though as otherwise I'll have to post on here!
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