Liverpool Echo & Everton

[The Esk]

I was going to ask which budget line this would be included in and would it be reflected when the accounts are published?

Other Operating Costs then.

I found it a bit rum when I found out. Why was there no announcement over him taking the Commercial Director role too? A role which is key in a current Premier League team set up.

It would be under other operating costs, the mention in the accounts would be a related party transactions disclosure under FRS 8.

 

[chicoazul]

It would be under other operating costs, the mention in the accounts would be a related party transactions disclosure under FRS 8.

Send the Esk to L4.

 

[davek]

An initial contract existed before he moved over Dave, but it does raise the potential for conflict of interests to arise, is usually considered poor corporate governance and unusually is not noted in the accounts as far as I could see.

As chico says, it's at least questionable that a man who's job it is to provide information doesn't do so when it concerns his becoming a commercial director. Newsworthy I'd have thought.

 

[bizzaro]

He and his wife still own 60% - of course, no corporate governance issues.....

An initial contract existed before he moved over Dave, but it does raise the potential for conflict of interests to arise, is usually considered poor corporate governance and unusually is not noted in the accounts as far as I could see.

Flabbergasted here.

I wonder if EFC could demonstrate good value for the business and contract if any of the EFC shareholders began to ask questions.

Under the companies act the directors of EFC have to act in the interests of ALL shareholders not just Kenwright or a particular shareholder.

If its a case of jobs for the boys - major questions should be asked.

 

[jinkyali]

An initial contract existed before he moved over Dave, but it does raise the potential for conflict of interests to arise, is usually considered poor corporate governance and unusually is not noted in the accounts as far as I could see.

Corp Governance in UK only really important in public limited companies.

 

[roydo]

Write a letter to The Echo.

oh, hang on....

 

[bizzaro]

So is this Kenyon feller a commercial director and handing out a club contract to his own Kenyon Fraser set up?

Isn't that wrong? Maybe I'm naive, but isn't he supposed to set his own interests aside and leave that?

It would be certainly considered wrong if it was found that EFC was paying above market rate.

For sure.

With potential legal implications if objections were raised by shareholders.

 

[bizzaro]

Write a letter to The Echo.

oh, hang on....

They'd lap it up. Then publish a 25 page spread about how great Liverpool Football Club is.

#boycotttheredecho

 

[bizzaro]

It would be under other operating costs, the mention in the accounts would be a related party transactions disclosure under FRS 8.

Try and find out what the value of this was Mr Esk. Then try and determine what a similar sort of contract value would be. I'm very keen to know

#moreamatureinvestigativejournalismthantheECHOcanmanage

 

[The Esk]

Corp Governance in UK only really important in public limited companies.

Sorry mate, but you are talking nonsense

 

[bizzaro]

Sorry mate, but you are talking nonsense

Agree. Companies act applies to both public and private ltd. companies.

Directors have legal obligations under the law and obligations to shareholders. Shareholders only have limited liability in relation to for example debts. Directors have no liability unless they break the law.

But they are perfectly liable in relation - under UK corporate governance rules - in terms of their liabilities to shareholders and the tax authorities...

 

[bizzaro]

@the esk

The law also says that Directors have to:

https://www.gov.uk/running-a-limited-company

• tell other shareholders if you might personally benefit from a transaction the company makes

i.e. there is a need for disclosure if one of the directors other companies is benefiting from a contract with EFC.

 

[bizzaro]

I await the rest of the juicy nuggets the fantastic Mr @the esk can dig up.

@davek

 

[jinkyali]

Agree. Companies act applies to both public and private ltd. companies.

Directors have legal obligations under the law and obligations to shareholders. Shareholders only have limited liability in relation to for example debts. Directors have no liability unless they break the law.

But they are perfectly liable in relation - under UK corporate governance rules - in terms of their liabilities to shareholders and the tax authorities...

Is there not a difference between the companies act and corp gorvernance? I was under the impression that whilst corporate governance is vital, for public limited companies its of increased significance.

I agree that there could be a conflict of interests but under the UK Corp governance code, is it not really significant only for FTSE 350 firms etc..?

 

[Goat]

Sorry mate, but you are talking nonsense

Can you stop schooling Damo please.

Its not fair.

Its like watching an elephant crush an ant.