Laurence Bassini, former Watford FC owner, declared bankrupt again

Laurence Bassini, former Watford FC owner, declared bankrupt again

Laurence Bassini, former Watford FC owner, declared bankrupt again

First published in Sport
Last updated
Watford Observer: Photograph of the Author by , Chief Reporter

Former Watford FC owner Laurence Bassini has been made bankrupt at the High Court this morning.

The Stanmore businessman did not contest a bankruptcy order made against him over an outstanding debt of £37,500.

The order comes after Mr Bassini lost a High Court battle in March with former Watford FC directors, Jimmy and Vince Russo, which left him with a £4.4 million bill.

Jimmy Russo was present at the court today and clashed with Mr Bassini as the parties headed into court.

An angry exchange erupted between Mr Bassini and Mr Russo before the pair were reprimanded by a member for the court staff for being noisy.

During the short hearing District Judge Clarke was told Mr Bassini had a statutory demand served on him relating to the outstanding sum in March.

The sum does not relate to the court battle with the Russos.

Mr Bassini said he was unable to pay the debt. When he then started asking the judge about the order, she replied: "I can't give you legal advice. But I can tell you in this building there is a Citizens' Advice Bureau, which can give you free legal advice."

Mr Bassini then told the judge he did not own any property. But he added he had a legal claim against someone else he did not name for £1 million and would be making another claim for £3.5 million.

District Judge Clarke said that the bankruptcy looked like "a simple case" and Mr Bassini could expect to be discharged from the order in a year.

This is at least the second time Mr Bassini has been declared bankrupt.

It emerged during his takeover of Watford FC he was declared bankrupt in 2007 following a hotel development project that went wrong.

It was following that bankruptcy when he changed his name from Bazini to Bassini.

Comments (55)

Please log in to enable comment sorting

12:41pm Wed 4 Jun 14

watford1881 says...

Send the....... Man to prison...
Send the....... Man to prison... watford1881
  • Score: 38

12:45pm Wed 4 Jun 14

muzzy999 says...

Shame.... I liked the guy.
Shame.... I liked the guy. muzzy999
  • Score: 4

12:52pm Wed 4 Jun 14

Banjo says...

he's a nightmare.
we're lucky to still have a club.
or for the people on here, you're lucky to still have a club to constantly moan and spit venom about.
he's a nightmare. we're lucky to still have a club. or for the people on here, you're lucky to still have a club to constantly moan and spit venom about. Banjo
  • Score: 35

12:53pm Wed 4 Jun 14

jsjf1979 says...

this pleases me immensely
this pleases me immensely jsjf1979
  • Score: 28

12:56pm Wed 4 Jun 14

Abbotshorn says...

No matter how bad your day is.. there are some things that just put a smile on your face, what was it Bassini??? HA HA HA
No matter how bad your day is.. there are some things that just put a smile on your face, what was it Bassini??? HA HA HA Abbotshorn
  • Score: 21

12:57pm Wed 4 Jun 14

87horn says...

Haha! Look out for Mr. Baseeni or whatever name the skint **** uses next
Haha! Look out for Mr. Baseeni or whatever name the skint **** uses next 87horn
  • Score: 26

1:00pm Wed 4 Jun 14

In GT We Trust says...

Just means those he owes won't get their money, so not a great day even if it's obvious it was going to happen. Expect a Larry Barseini to appear on the electoral roll before long...
Just means those he owes won't get their money, so not a great day even if it's obvious it was going to happen. Expect a Larry Barseini to appear on the electoral roll before long... In GT We Trust
  • Score: 29

1:00pm Wed 4 Jun 14

HornetJJ says...

Crack open the Champagne!
Crack open the Champagne! HornetJJ
  • Score: 13

1:05pm Wed 4 Jun 14

The Rover says...

He has no property? I thought he owned the Red Lion?
He has no property? I thought he owned the Red Lion? The Rover
  • Score: 24

1:14pm Wed 4 Jun 14

llloydwithathirdl says...

Today is a good day.
Today is a good day. llloydwithathirdl
  • Score: 10

1:17pm Wed 4 Jun 14

HemelWFC says...

Does this mean that the Russo won't get any money back owed?
Does this mean that the Russo won't get any money back owed? HemelWFC
  • Score: 0

1:21pm Wed 4 Jun 14

Belfast Hornet says...

Muppet
Muppet Belfast Hornet
  • Score: 4

1:22pm Wed 4 Jun 14

mkhornet says...

I suggest that if in the future any football club receives an offer to take them over from a "Lorenzo Baznini" they should proceed with caution!!
I suggest that if in the future any football club receives an offer to take them over from a "Lorenzo Baznini" they should proceed with caution!! mkhornet
  • Score: 5

1:22pm Wed 4 Jun 14

H0RN3TSFAN says...

ha ha ha ha ha ha ha ha ha ha ha ha ha ha
ha ha ha ha ha ha ha ha ha ha ha ha ha ha H0RN3TSFAN
  • Score: 6

1:23pm Wed 4 Jun 14

EstebanSemtex says...

I normally oppose any form of capital or corporal punishment but any one else suddenly feel that the stocks should be coming back in? Outside the Vic, with a handy stall for the purchase of rotten fruit and eggs. All profits to go to charity.
I normally oppose any form of capital or corporal punishment but any one else suddenly feel that the stocks should be coming back in? Outside the Vic, with a handy stall for the purchase of rotten fruit and eggs. All profits to go to charity. EstebanSemtex
  • Score: 23

1:30pm Wed 4 Jun 14

Hornet Cornet says...

There are times in one's life when you have to stop and realise that not all is bad with the world. We have the Eurovision song Contest, which I love, we have WFC, who I also love, my flowers are blooming, my toddler is beaming and Bent Baz is getting done again.

I agree with Semtex, by way of thanking Bent Baz for leaving our club, we should invite him back, pelt him with some very rotten fruit then blindfold him, dump him in Luton and let their nancy boys take over.

The future's bright, the future's not Bent Baz
There are times in one's life when you have to stop and realise that not all is bad with the world. We have the Eurovision song Contest, which I love, we have WFC, who I also love, my flowers are blooming, my toddler is beaming and Bent Baz is getting done again. I agree with Semtex, by way of thanking Bent Baz for leaving our club, we should invite him back, pelt him with some very rotten fruit then blindfold him, dump him in Luton and let their nancy boys take over. The future's bright, the future's not Bent Baz Hornet Cornet
  • Score: 11

1:35pm Wed 4 Jun 14

The Rover says...

Should we vote for Bassini to be on the Watford Legends banner, complete with Red helmet? He is a Watford legend, for all the wrong reasons!
Should we vote for Bassini to be on the Watford Legends banner, complete with Red helmet? He is a Watford legend, for all the wrong reasons! The Rover
  • Score: 16

1:38pm Wed 4 Jun 14

Hornet Cornet says...

The Rover wrote:
Should we vote for Bassini to be on the Watford Legends banner, complete with Red helmet? He is a Watford legend, for all the wrong reasons!
We should just get someone to reopen the Red Lion as The Red Helmet...
[quote][p][bold]The Rover[/bold] wrote: Should we vote for Bassini to be on the Watford Legends banner, complete with Red helmet? He is a Watford legend, for all the wrong reasons![/p][/quote]We should just get someone to reopen the Red Lion as The Red Helmet... Hornet Cornet
  • Score: 41

2:02pm Wed 4 Jun 14

Boosey says...

I just want to smash his smug face in!
I just want to smash his smug face in! Boosey
  • Score: 15

2:06pm Wed 4 Jun 14

D.unstable says...

Hornet Cornet wrote:
The Rover wrote: Should we vote for Bassini to be on the Watford Legends banner, complete with Red helmet? He is a Watford legend, for all the wrong reasons!
We should just get someone to reopen the Red Lion as The Red Helmet...
or maybe The Bankrupt Baz
[quote][p][bold]Hornet Cornet[/bold] wrote: [quote][p][bold]The Rover[/bold] wrote: Should we vote for Bassini to be on the Watford Legends banner, complete with Red helmet? He is a Watford legend, for all the wrong reasons![/p][/quote]We should just get someone to reopen the Red Lion as The Red Helmet...[/p][/quote]or maybe The Bankrupt Baz D.unstable
  • Score: 5

2:09pm Wed 4 Jun 14

londomollari says...

Laurence Bassini. Always puts a smile on my face.
The Russo's, being nice gentlemen, would never consider such a thing, I am sure, but with some people our Baz would wake up one morning to find his kneecaps missing.
Laurence Bassini. Always puts a smile on my face. The Russo's, being nice gentlemen, would never consider such a thing, I am sure, but with some people our Baz would wake up one morning to find his kneecaps missing. londomollari
  • Score: 3

2:14pm Wed 4 Jun 14

londomollari says...

D.unstable wrote:
Hornet Cornet wrote:
The Rover wrote: Should we vote for Bassini to be on the Watford Legends banner, complete with Red helmet? He is a Watford legend, for all the wrong reasons!
We should just get someone to reopen the Red Lion as The Red Helmet...
or maybe The Bankrupt Baz
I think the Red Helmet would be a great idea! I would happily put some money towards the new pub sign if they did!
[quote][p][bold]D.unstable[/bold] wrote: [quote][p][bold]Hornet Cornet[/bold] wrote: [quote][p][bold]The Rover[/bold] wrote: Should we vote for Bassini to be on the Watford Legends banner, complete with Red helmet? He is a Watford legend, for all the wrong reasons![/p][/quote]We should just get someone to reopen the Red Lion as The Red Helmet...[/p][/quote]or maybe The Bankrupt Baz[/p][/quote]I think the Red Helmet would be a great idea! I would happily put some money towards the new pub sign if they did! londomollari
  • Score: 6

2:36pm Wed 4 Jun 14

Hornet Cornet says...

Boosey wrote:
I just want to smash his smug face in!
I'd paid for the pleasure of doing that.,
[quote][p][bold]Boosey[/bold] wrote: I just want to smash his smug face in![/p][/quote]I'd paid for the pleasure of doing that., Hornet Cornet
  • Score: 4

2:43pm Wed 4 Jun 14

jasonwatford says...

What makes me smile is Russo wont get anything either
What makes me smile is Russo wont get anything either jasonwatford
  • Score: 5

2:47pm Wed 4 Jun 14

londomollari says...

jasonwatford wrote:
What makes me smile is Russo wont get anything either
Me too! The Russo/Bassini court case showed the Russo's weren't that much better than Baz. I suppose that, at least, they are solvent.
[quote][p][bold]jasonwatford[/bold] wrote: What makes me smile is Russo wont get anything either[/p][/quote]Me too! The Russo/Bassini court case showed the Russo's weren't that much better than Baz. I suppose that, at least, they are solvent. londomollari
  • Score: 3

2:57pm Wed 4 Jun 14

soulfulhornet says...

I am not sure this is a great day. There may yet be ramifications for WFC. Hope I am wrong, but will the Russos comeafter the club now that Bassini can't pay ? And the legalcase Bassini states he has outstanding, are we involved ? Fingers crossed.

Baz deserves everything he gets, but I am more worried about us.
I am not sure this is a great day. There may yet be ramifications for WFC. Hope I am wrong, but will the Russos comeafter the club now that Bassini can't pay ? And the legalcase Bassini states he has outstanding, are we involved ? Fingers crossed. Baz deserves everything he gets, but I am more worried about us. soulfulhornet
  • Score: 3

3:02pm Wed 4 Jun 14

DuffmanWFC says...

Hate this guy!
He raped our club dry and deserves to be locked up!
Just so glad we got the Pozzo's now and we can move on without this pr1ck in his stupid fuck1ng red hat!
You Orns!
Hate this guy! He raped our club dry and deserves to be locked up! Just so glad we got the Pozzo's now and we can move on without this pr1ck in his stupid fuck1ng red hat! You Orns! DuffmanWFC
  • Score: 5

3:08pm Wed 4 Jun 14

Mickey Quinn, not so thin says...

Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more..
Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more.. Mickey Quinn, not so thin
  • Score: 6

3:15pm Wed 4 Jun 14

rowlingstone says...

Quote Bassini following WFC's defeat at Wembley last year:

"How is the feeling in the town now?" ... "For me the feeling is amazing."

He then said that watching the Hornets lose was his "happiest memory of Watford"... "I have to go now and open the champagne."

Well Mr. Bassini, The town is now feeling amazing and we're all about to open a bottle of champagne. "Here's to your bankruptcy... CHEERS!!!"
Quote Bassini following WFC's defeat at Wembley last year: "How is the feeling in the town now?" ... "For me the feeling is amazing." He then said that watching the Hornets lose was his "happiest memory of Watford"... "I have to go now and open the champagne." Well Mr. Bassini, The town is now feeling amazing and we're all about to open a bottle of champagne. "Here's to your bankruptcy... CHEERS!!!" rowlingstone
  • Score: 30

3:18pm Wed 4 Jun 14

mellow yellow says...

Hornet Cornet wrote:
There are times in one's life when you have to stop and realise that not all is bad with the world. We have the Eurovision song Contest, which I love, we have WFC, who I also love, my flowers are blooming, my toddler is beaming and Bent Baz is getting done again.

I agree with Semtex, by way of thanking Bent Baz for leaving our club, we should invite him back, pelt him with some very rotten fruit then blindfold him, dump him in Luton and let their nancy boys take over.

The future's bright, the future's not Bent Baz
Alternatively, douse him in coca cola and honey, and set the largest nest of hornets on him.... It would make great viewing. From a safe distance.
[quote][p][bold]Hornet Cornet[/bold] wrote: There are times in one's life when you have to stop and realise that not all is bad with the world. We have the Eurovision song Contest, which I love, we have WFC, who I also love, my flowers are blooming, my toddler is beaming and Bent Baz is getting done again. I agree with Semtex, by way of thanking Bent Baz for leaving our club, we should invite him back, pelt him with some very rotten fruit then blindfold him, dump him in Luton and let their nancy boys take over. The future's bright, the future's not Bent Baz[/p][/quote]Alternatively, douse him in coca cola and honey, and set the largest nest of hornets on him.... It would make great viewing. From a safe distance. mellow yellow
  • Score: 7

3:26pm Wed 4 Jun 14

peter10531089 says...

What a complete helmet!
What a complete helmet! peter10531089
  • Score: 6

3:38pm Wed 4 Jun 14

soulfulhornet says...

Mickey Quinn, not so thin wrote:
Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more..
Is he such a loser ? Or will he rise pheonix like from the ashes ? And what happened to the transfers monies from Danny Graham and others ? And then the money from the Russos ? Either he put all of it into the club, which means we lost about £7-8m when he was in charge - unlikely since the Russos had already cut back on running costs etc Or some of that money might have been moved elsewhere i.e into a relative's a/c etc?

The losers are the people like Jimmy and Vince who lent him money in good faith. I am no great fan of them but this will have an adverse affect on their business and the wholly innocent people who work for them. These things always have knock-on effects.

As I said in the earlier post this may yet impact WFC. How on earth did the FA pass this man through fit and proper persons, given that the WFC board had recommended rejection of his takeover ?
[quote][p][bold]Mickey Quinn, not so thin[/bold] wrote: Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more..[/p][/quote]Is he such a loser ? Or will he rise pheonix like from the ashes ? And what happened to the transfers monies from Danny Graham and others ? And then the money from the Russos ? Either he put all of it into the club, which means we lost about £7-8m when he was in charge - unlikely since the Russos had already cut back on running costs etc Or some of that money might have been moved elsewhere i.e into a relative's a/c etc? The losers are the people like Jimmy and Vince who lent him money in good faith. I am no great fan of them but this will have an adverse affect on their business and the wholly innocent people who work for them. These things always have knock-on effects. As I said in the earlier post this may yet impact WFC. How on earth did the FA pass this man through fit and proper persons, given that the WFC board had recommended rejection of his takeover ? soulfulhornet
  • Score: 13

3:57pm Wed 4 Jun 14

londomollari says...

Is the Pope a Catholic?
Do bears cr8p in the woods?
Does Baz have money salted away somewhere?
All questions we have to consider
Is the Pope a Catholic? Do bears cr8p in the woods? Does Baz have money salted away somewhere? All questions we have to consider londomollari
  • Score: 4

3:59pm Wed 4 Jun 14

COGGDAVE1 says...

Its the easy way out ..AGAIN..means no one will get a penny of any money owed.
Jimmy Russo knows this, which is why he was there....but there must be a creditors meeting I believe .... a scary appointment awaits the crook !! I wonder if tickets will be made available ..
Its the easy way out ..AGAIN..means no one will get a penny of any money owed. Jimmy Russo knows this, which is why he was there....but there must be a creditors meeting I believe .... a scary appointment awaits the crook !! I wonder if tickets will be made available .. COGGDAVE1
  • Score: 1

4:07pm Wed 4 Jun 14

Andrew1963 says...

its a good day for Bassini, he has not had to pay back the Russo's the money the High court said he owed them! He probably will still live a millionaires lifestyle using his (wife's/families) largess.
its a good day for Bassini, he has not had to pay back the Russo's the money the High court said he owed them! He probably will still live a millionaires lifestyle using his (wife's/families) largess. Andrew1963
  • Score: 8

4:24pm Wed 4 Jun 14

lockerbiehornet says...

Biggest Strap-on in Herts, I would have posted earlier but I've only just managed to pick myself off the floor after laughing so much!
Biggest Strap-on in Herts, I would have posted earlier but I've only just managed to pick myself off the floor after laughing so much! lockerbiehornet
  • Score: 4

4:29pm Wed 4 Jun 14

micksolly says...

soulfulhornet wrote:
Mickey Quinn, not so thin wrote:
Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more..
Is he such a loser ? Or will he rise pheonix like from the ashes ? And what happened to the transfers monies from Danny Graham and others ? And then the money from the Russos ? Either he put all of it into the club, which means we lost about £7-8m when he was in charge - unlikely since the Russos had already cut back on running costs etc Or some of that money might have been moved elsewhere i.e into a relative's a/c etc?

The losers are the people like Jimmy and Vince who lent him money in good faith. I am no great fan of them but this will have an adverse affect on their business and the wholly innocent people who work for them. These things always have knock-on effects.

As I said in the earlier post this may yet impact WFC. How on earth did the FA pass this man through fit and proper persons, given that the WFC board had recommended rejection of his takeover ?
I thought he had a house in Stanmore worth over a million presumably in his wife's name together with any more assets. I recall the Judge summing up in the Ruso case, saying that Baz lost any credibility when he removed funds as the order was made to freeze assets.
As somebody was saying in a previous post we should be counting our lucky stars for the Pozos.
[quote][p][bold]soulfulhornet[/bold] wrote: [quote][p][bold]Mickey Quinn, not so thin[/bold] wrote: Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more..[/p][/quote]Is he such a loser ? Or will he rise pheonix like from the ashes ? And what happened to the transfers monies from Danny Graham and others ? And then the money from the Russos ? Either he put all of it into the club, which means we lost about £7-8m when he was in charge - unlikely since the Russos had already cut back on running costs etc Or some of that money might have been moved elsewhere i.e into a relative's a/c etc? The losers are the people like Jimmy and Vince who lent him money in good faith. I am no great fan of them but this will have an adverse affect on their business and the wholly innocent people who work for them. These things always have knock-on effects. As I said in the earlier post this may yet impact WFC. How on earth did the FA pass this man through fit and proper persons, given that the WFC board had recommended rejection of his takeover ?[/p][/quote]I thought he had a house in Stanmore worth over a million presumably in his wife's name together with any more assets. I recall the Judge summing up in the Ruso case, saying that Baz lost any credibility when he removed funds as the order was made to freeze assets. As somebody was saying in a previous post we should be counting our lucky stars for the Pozos. micksolly
  • Score: 3

4:46pm Wed 4 Jun 14

Paul Gadd says...

Sipping on champers and enjoying this great news- like Baz Steward did when we lost to fn palace....

Liking the renamed 'Red Helmet' pub- but in glowing red lights- a homage to a certain D Pleat and to make 'Baz' feel at home...
Sipping on champers and enjoying this great news- like Baz Steward did when we lost to fn palace.... Liking the renamed 'Red Helmet' pub- but in glowing red lights- a homage to a certain D Pleat and to make 'Baz' feel at home... Paul Gadd
  • Score: 2

4:55pm Wed 4 Jun 14

Andrew1963 says...

Who owns the pub, is it part of the'frozen assets' Or is it still owned by WFC? Its a nice building, even if it was converted to flats it should find some use. With those 700 new flats being built on the allotments, there would be demand for a decent pub/restaurant., specializing in fresh salad and spilt milk?
Who owns the pub, is it part of the'frozen assets' Or is it still owned by WFC? Its a nice building, even if it was converted to flats it should find some use. With those 700 new flats being built on the allotments, there would be demand for a decent pub/restaurant., specializing in fresh salad and spilt milk? Andrew1963
  • Score: 1

5:23pm Wed 4 Jun 14

Sealegs says...

muzzy999 wrote:
Shame.... I liked the guy.
So did I....Hat's off to him..
[quote][p][bold]muzzy999[/bold] wrote: Shame.... I liked the guy.[/p][/quote]So did I....Hat's off to him.. Sealegs
  • Score: 1

5:28pm Wed 4 Jun 14

The Rover says...

Andrew1963 wrote:
Who owns the pub, is it part of the'frozen assets' Or is it still owned by WFC? Its a nice building, even if it was converted to flats it should find some use. With those 700 new flats being built on the allotments, there would be demand for a decent pub/restaurant., specializing in fresh salad and spilt milk?
NO ALLOTMENTS=NO FRESH SALAD
[quote][p][bold]Andrew1963[/bold] wrote: Who owns the pub, is it part of the'frozen assets' Or is it still owned by WFC? Its a nice building, even if it was converted to flats it should find some use. With those 700 new flats being built on the allotments, there would be demand for a decent pub/restaurant., specializing in fresh salad and spilt milk?[/p][/quote]NO ALLOTMENTS=NO FRESH SALAD The Rover
  • Score: 0

5:43pm Wed 4 Jun 14

soulfulhornet says...

micksolly wrote:
soulfulhornet wrote:
Mickey Quinn, not so thin wrote:
Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more..
Is he such a loser ? Or will he rise pheonix like from the ashes ? And what happened to the transfers monies from Danny Graham and others ? And then the money from the Russos ? Either he put all of it into the club, which means we lost about £7-8m when he was in charge - unlikely since the Russos had already cut back on running costs etc Or some of that money might have been moved elsewhere i.e into a relative's a/c etc?

The losers are the people like Jimmy and Vince who lent him money in good faith. I am no great fan of them but this will have an adverse affect on their business and the wholly innocent people who work for them. These things always have knock-on effects.

As I said in the earlier post this may yet impact WFC. How on earth did the FA pass this man through fit and proper persons, given that the WFC board had recommended rejection of his takeover ?
I thought he had a house in Stanmore worth over a million presumably in his wife's name together with any more assets. I recall the Judge summing up in the Ruso case, saying that Baz lost any credibility when he removed funds as the order was made to freeze assets.
As somebody was saying in a previous post we should be counting our lucky stars for the Pozos.
If Baz has moved funds to avoid his creditors, such monies will have to be paid back. It is along time since I studied the law of bankruptcy but any such movement used to be deemed illegal and would have to paid back. If such movement is deemed a deliberate attempt to defraud the creditors that could, I say could be deemed a criminal offence.
[quote][p][bold]micksolly[/bold] wrote: [quote][p][bold]soulfulhornet[/bold] wrote: [quote][p][bold]Mickey Quinn, not so thin[/bold] wrote: Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more..[/p][/quote]Is he such a loser ? Or will he rise pheonix like from the ashes ? And what happened to the transfers monies from Danny Graham and others ? And then the money from the Russos ? Either he put all of it into the club, which means we lost about £7-8m when he was in charge - unlikely since the Russos had already cut back on running costs etc Or some of that money might have been moved elsewhere i.e into a relative's a/c etc? The losers are the people like Jimmy and Vince who lent him money in good faith. I am no great fan of them but this will have an adverse affect on their business and the wholly innocent people who work for them. These things always have knock-on effects. As I said in the earlier post this may yet impact WFC. How on earth did the FA pass this man through fit and proper persons, given that the WFC board had recommended rejection of his takeover ?[/p][/quote]I thought he had a house in Stanmore worth over a million presumably in his wife's name together with any more assets. I recall the Judge summing up in the Ruso case, saying that Baz lost any credibility when he removed funds as the order was made to freeze assets. As somebody was saying in a previous post we should be counting our lucky stars for the Pozos.[/p][/quote]If Baz has moved funds to avoid his creditors, such monies will have to be paid back. It is along time since I studied the law of bankruptcy but any such movement used to be deemed illegal and would have to paid back. If such movement is deemed a deliberate attempt to defraud the creditors that could, I say could be deemed a criminal offence. soulfulhornet
  • Score: 3

6:12pm Wed 4 Jun 14

watfordrick says...

He's probably got more than most of you lot hidden away. Bazza will bounce back.
He's probably got more than most of you lot hidden away. Bazza will bounce back. watfordrick
  • Score: 5

6:48pm Wed 4 Jun 14

chadderton orn says...

Jimmy should have chined him, Or at least wore a red builders hat to court. That would have been funny.
Jimmy should have chined him, Or at least wore a red builders hat to court. That would have been funny. chadderton orn
  • Score: 4

7:12pm Wed 4 Jun 14

hornetsteve says...

soulfulhornet wrote:
Mickey Quinn, not so thin wrote:
Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more..
Is he such a loser ? Or will he rise pheonix like from the ashes ? And what happened to the transfers monies from Danny Graham and others ? And then the money from the Russos ? Either he put all of it into the club, which means we lost about £7-8m when he was in charge - unlikely since the Russos had already cut back on running costs etc Or some of that money might have been moved elsewhere i.e into a relative's a/c etc?

The losers are the people like Jimmy and Vince who lent him money in good faith. I am no great fan of them but this will have an adverse affect on their business and the wholly innocent people who work for them. These things always have knock-on effects.

As I said in the earlier post this may yet impact WFC. How on earth did the FA pass this man through fit and proper persons, given that the WFC board had recommended rejection of his takeover ?
there is no fit and proper persons test the new leeds owner who has a cv in Italy that equals bazzinis the FA refused him he took them to the high court and won!! there is no fit and proper persons test!! he's just sacked mc dermont & nigel gibbs if sannino is to go!! i would prefer them to de matteo if the rumours, are true that is
[quote][p][bold]soulfulhornet[/bold] wrote: [quote][p][bold]Mickey Quinn, not so thin[/bold] wrote: Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more..[/p][/quote]Is he such a loser ? Or will he rise pheonix like from the ashes ? And what happened to the transfers monies from Danny Graham and others ? And then the money from the Russos ? Either he put all of it into the club, which means we lost about £7-8m when he was in charge - unlikely since the Russos had already cut back on running costs etc Or some of that money might have been moved elsewhere i.e into a relative's a/c etc? The losers are the people like Jimmy and Vince who lent him money in good faith. I am no great fan of them but this will have an adverse affect on their business and the wholly innocent people who work for them. These things always have knock-on effects. As I said in the earlier post this may yet impact WFC. How on earth did the FA pass this man through fit and proper persons, given that the WFC board had recommended rejection of his takeover ?[/p][/quote]there is no fit and proper persons test the new leeds owner who has a cv in Italy that equals bazzinis the FA refused him he took them to the high court and won!! there is no fit and proper persons test!! he's just sacked mc dermont & nigel gibbs if sannino is to go!! i would prefer them to de matteo if the rumours, are true that is hornetsteve
  • Score: -2

7:53pm Wed 4 Jun 14

micksolly says...

soulfulhornet wrote:
micksolly wrote:
soulfulhornet wrote:
Mickey Quinn, not so thin wrote:
Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more..
Is he such a loser ? Or will he rise pheonix like from the ashes ? And what happened to the transfers monies from Danny Graham and others ? And then the money from the Russos ? Either he put all of it into the club, which means we lost about £7-8m when he was in charge - unlikely since the Russos had already cut back on running costs etc Or some of that money might have been moved elsewhere i.e into a relative's a/c etc?

The losers are the people like Jimmy and Vince who lent him money in good faith. I am no great fan of them but this will have an adverse affect on their business and the wholly innocent people who work for them. These things always have knock-on effects.

As I said in the earlier post this may yet impact WFC. How on earth did the FA pass this man through fit and proper persons, given that the WFC board had recommended rejection of his takeover ?
I thought he had a house in Stanmore worth over a million presumably in his wife's name together with any more assets. I recall the Judge summing up in the Ruso case, saying that Baz lost any credibility when he removed funds as the order was made to freeze assets.
As somebody was saying in a previous post we should be counting our lucky stars for the Pozos.
If Baz has moved funds to avoid his creditors, such monies will have to be paid back. It is along time since I studied the law of bankruptcy but any such movement used to be deemed illegal and would have to paid back. If such movement is deemed a deliberate attempt to defraud the creditors that could, I say could be deemed a criminal offence.
Yes as part of the Bankruptcy process the Official Receiver are duty bound to investigate his financial dealings. You will recall the Judge in the Ruso case stating that he showed his credibility, when following the order to freeze his assets he emptied his bank account.
[quote][p][bold]soulfulhornet[/bold] wrote: [quote][p][bold]micksolly[/bold] wrote: [quote][p][bold]soulfulhornet[/bold] wrote: [quote][p][bold]Mickey Quinn, not so thin[/bold] wrote: Love the continued use of the helmet photo. I seriously think the guy needs some mental help. He needs to understand he isn't, never was, and never will be a businessman. He's always been, and will always be a loser, nothing more..[/p][/quote]Is he such a loser ? Or will he rise pheonix like from the ashes ? And what happened to the transfers monies from Danny Graham and others ? And then the money from the Russos ? Either he put all of it into the club, which means we lost about £7-8m when he was in charge - unlikely since the Russos had already cut back on running costs etc Or some of that money might have been moved elsewhere i.e into a relative's a/c etc? The losers are the people like Jimmy and Vince who lent him money in good faith. I am no great fan of them but this will have an adverse affect on their business and the wholly innocent people who work for them. These things always have knock-on effects. As I said in the earlier post this may yet impact WFC. How on earth did the FA pass this man through fit and proper persons, given that the WFC board had recommended rejection of his takeover ?[/p][/quote]I thought he had a house in Stanmore worth over a million presumably in his wife's name together with any more assets. I recall the Judge summing up in the Ruso case, saying that Baz lost any credibility when he removed funds as the order was made to freeze assets. As somebody was saying in a previous post we should be counting our lucky stars for the Pozos.[/p][/quote]If Baz has moved funds to avoid his creditors, such monies will have to be paid back. It is along time since I studied the law of bankruptcy but any such movement used to be deemed illegal and would have to paid back. If such movement is deemed a deliberate attempt to defraud the creditors that could, I say could be deemed a criminal offence.[/p][/quote]Yes as part of the Bankruptcy process the Official Receiver are duty bound to investigate his financial dealings. You will recall the Judge in the Ruso case stating that he showed his credibility, when following the order to freeze his assets he emptied his bank account. micksolly
  • Score: 0

9:09pm Wed 4 Jun 14

grahamwfc says...

http://www.youtube.c
om/watch?v=HWqKPWO5T
4o&feature=kp

Horses head in the bed me thinks
http://www.youtube.c om/watch?v=HWqKPWO5T 4o&feature=kp Horses head in the bed me thinks grahamwfc
  • Score: 3

10:57pm Wed 4 Jun 14

Stewbyhorn1 says...

This bloke is a tool, we need to count our blessings that we have rid of him. One day he will get his just deserts as I'm a great believer what goes around comes around. Sleep well fat Baz as caravans get cold in the winter!
This bloke is a tool, we need to count our blessings that we have rid of him. One day he will get his just deserts as I'm a great believer what goes around comes around. Sleep well fat Baz as caravans get cold in the winter! Stewbyhorn1
  • Score: -1

7:44am Thu 5 Jun 14

84AGAIN says...

Salad Days! Watford 6 Stanmore 0! Better Red Lion than red helmet. Expect a heavily tanned gentleman named El Mohammed Syed Bhazeeni to put a bid in for Hendon FC in a couple of years time!
Salad Days! Watford 6 Stanmore 0! Better Red Lion than red helmet. Expect a heavily tanned gentleman named El Mohammed Syed Bhazeeni to put a bid in for Hendon FC in a couple of years time! 84AGAIN
  • Score: 4

8:42am Thu 5 Jun 14

Harry's Bar says...

To the the people that are still rolling around on the floor laughing I'd get back up. This bankruptcy has only really saved Bassini a job. He can now write off all his personal debts.
The house would have been transferred, probably to his daughters name, some time ago, but can they find where all the money's hidden, that's what Jimmy and all the others want to know now.
To the the people that are still rolling around on the floor laughing I'd get back up. This bankruptcy has only really saved Bassini a job. He can now write off all his personal debts. The house would have been transferred, probably to his daughters name, some time ago, but can they find where all the money's hidden, that's what Jimmy and all the others want to know now. Harry's Bar
  • Score: -2

9:56am Thu 5 Jun 14

grahamwfc says...

Harry's Bar wrote:
To the the people that are still rolling around on the floor laughing I'd get back up. This bankruptcy has only really saved Bassini a job. He can now write off all his personal debts.
The house would have been transferred, probably to his daughters name, some time ago, but can they find where all the money's hidden, that's what Jimmy and all the others want to know now.
A very simplistic view. Any transfer of assets could be deemed a fraudulent conveyance and doesn't have to have been recent. Also he will remain undischarged for some considerable time or until his debts are settled and that will preclude any business involvement, I should think.
Personally if I had some dough squirrelled away I would be making sure Jimmy and Vince got first dividend............
................
I am still concerned about the Red Lion issue. Did we give him a lease or the Freehold. If the former I would suspect going Bankrupt would negate the lease per any good T&C. If he has the Freehold, then would suspect £500k into the pot for creditors,leaving Baz without a pot to p*** in.
Did we ever receive the benefit of those Graham transfer monies? If we did then really paying the law suit means we are even. We can't have it via Baz /loan co. and the FA. Clearly the loan company paid to someone and should be repaid even if rules were broken. If Baz had the monies himself it seems unlikely we will see it again though, unless Jimmy and Vince can convince him to settle our debts too from his stash. Perhaps we can offer them 10% recovery fee. We rolled over quite easily on this and probably did have the money. The investigation centred around who broke the rules rather than where the money was and with the Authorities deeming Baz a fit and proper person ( cough) despite protestations from the then board, they were alwaysin a weak position in proving against Watford FC, IMHO .
[quote][p][bold]Harry's Bar[/bold] wrote: To the the people that are still rolling around on the floor laughing I'd get back up. This bankruptcy has only really saved Bassini a job. He can now write off all his personal debts. The house would have been transferred, probably to his daughters name, some time ago, but can they find where all the money's hidden, that's what Jimmy and all the others want to know now.[/p][/quote]A very simplistic view. Any transfer of assets could be deemed a fraudulent conveyance and doesn't have to have been recent. Also he will remain undischarged for some considerable time or until his debts are settled and that will preclude any business involvement, I should think. Personally if I had some dough squirrelled away I would be making sure Jimmy and Vince got first dividend............ ................ I am still concerned about the Red Lion issue. Did we give him a lease or the Freehold. If the former I would suspect going Bankrupt would negate the lease per any good T&C. If he has the Freehold, then would suspect £500k into the pot for creditors,leaving Baz without a pot to p*** in. Did we ever receive the benefit of those Graham transfer monies? If we did then really paying the law suit means we are even. We can't have it via Baz /loan co. and the FA. Clearly the loan company paid to someone and should be repaid even if rules were broken. If Baz had the monies himself it seems unlikely we will see it again though, unless Jimmy and Vince can convince him to settle our debts too from his stash. Perhaps we can offer them 10% recovery fee. We rolled over quite easily on this and probably did have the money. The investigation centred around who broke the rules rather than where the money was and with the Authorities deeming Baz a fit and proper person ( cough) despite protestations from the then board, they were alwaysin a weak position in proving against Watford FC, IMHO . grahamwfc
  • Score: 1

10:21am Thu 5 Jun 14

cliff46 says...

Interesting that he says he has legal claims pending for £1m and £3.5m and that currently he has no money, so does that mean he might be able to pursue his claims on legal aid? Wouldn't he have been asked who those claims will be directed at?
Interesting that he says he has legal claims pending for £1m and £3.5m and that currently he has no money, so does that mean he might be able to pursue his claims on legal aid? Wouldn't he have been asked who those claims will be directed at? cliff46
  • Score: 3

10:46am Thu 5 Jun 14

Harry's Bar says...

grahamwfc wrote:
Harry's Bar wrote:
To the the people that are still rolling around on the floor laughing I'd get back up. This bankruptcy has only really saved Bassini a job. He can now write off all his personal debts.
The house would have been transferred, probably to his daughters name, some time ago, but can they find where all the money's hidden, that's what Jimmy and all the others want to know now.
A very simplistic view. Any transfer of assets could be deemed a fraudulent conveyance and doesn't have to have been recent. Also he will remain undischarged for some considerable time or until his debts are settled and that will preclude any business involvement, I should think.
Personally if I had some dough squirrelled away I would be making sure Jimmy and Vince got first dividend............

................
I am still concerned about the Red Lion issue. Did we give him a lease or the Freehold. If the former I would suspect going Bankrupt would negate the lease per any good T&C. If he has the Freehold, then would suspect £500k into the pot for creditors,leaving Baz without a pot to p*** in.
Did we ever receive the benefit of those Graham transfer monies? If we did then really paying the law suit means we are even. We can't have it via Baz /loan co. and the FA. Clearly the loan company paid to someone and should be repaid even if rules were broken. If Baz had the monies himself it seems unlikely we will see it again though, unless Jimmy and Vince can convince him to settle our debts too from his stash. Perhaps we can offer them 10% recovery fee. We rolled over quite easily on this and probably did have the money. The investigation centred around who broke the rules rather than where the money was and with the Authorities deeming Baz a fit and proper person ( cough) despite protestations from the then board, they were alwaysin a weak position in proving against Watford FC, IMHO .
I don't know what the law is on transferring assets before a "freezing" order but I'd guess it would be hard to prove fraud. Presumably you would need to show that the transfer took place in preparation for an impending order.

The article states that he will be discharged after a year.
[quote][p][bold]grahamwfc[/bold] wrote: [quote][p][bold]Harry's Bar[/bold] wrote: To the the people that are still rolling around on the floor laughing I'd get back up. This bankruptcy has only really saved Bassini a job. He can now write off all his personal debts. The house would have been transferred, probably to his daughters name, some time ago, but can they find where all the money's hidden, that's what Jimmy and all the others want to know now.[/p][/quote]A very simplistic view. Any transfer of assets could be deemed a fraudulent conveyance and doesn't have to have been recent. Also he will remain undischarged for some considerable time or until his debts are settled and that will preclude any business involvement, I should think. Personally if I had some dough squirrelled away I would be making sure Jimmy and Vince got first dividend............ ................ I am still concerned about the Red Lion issue. Did we give him a lease or the Freehold. If the former I would suspect going Bankrupt would negate the lease per any good T&C. If he has the Freehold, then would suspect £500k into the pot for creditors,leaving Baz without a pot to p*** in. Did we ever receive the benefit of those Graham transfer monies? If we did then really paying the law suit means we are even. We can't have it via Baz /loan co. and the FA. Clearly the loan company paid to someone and should be repaid even if rules were broken. If Baz had the monies himself it seems unlikely we will see it again though, unless Jimmy and Vince can convince him to settle our debts too from his stash. Perhaps we can offer them 10% recovery fee. We rolled over quite easily on this and probably did have the money. The investigation centred around who broke the rules rather than where the money was and with the Authorities deeming Baz a fit and proper person ( cough) despite protestations from the then board, they were alwaysin a weak position in proving against Watford FC, IMHO .[/p][/quote]I don't know what the law is on transferring assets before a "freezing" order but I'd guess it would be hard to prove fraud. Presumably you would need to show that the transfer took place in preparation for an impending order. The article states that he will be discharged after a year. Harry's Bar
  • Score: 0

11:30am Thu 5 Jun 14

lockerbiehornet says...

londomollari wrote:
D.unstable wrote:
Hornet Cornet wrote:
The Rover wrote: Should we vote for Bassini to be on the Watford Legends banner, complete with Red helmet? He is a Watford legend, for all the wrong reasons!
We should just get someone to reopen the Red Lion as The Red Helmet...
or maybe The Bankrupt Baz
I think the Red Helmet would be a great idea! I would happily put some money towards the new pub sign if they did!
Surely the red hatted helmet has more rings of truth??
[quote][p][bold]londomollari[/bold] wrote: [quote][p][bold]D.unstable[/bold] wrote: [quote][p][bold]Hornet Cornet[/bold] wrote: [quote][p][bold]The Rover[/bold] wrote: Should we vote for Bassini to be on the Watford Legends banner, complete with Red helmet? He is a Watford legend, for all the wrong reasons![/p][/quote]We should just get someone to reopen the Red Lion as The Red Helmet...[/p][/quote]or maybe The Bankrupt Baz[/p][/quote]I think the Red Helmet would be a great idea! I would happily put some money towards the new pub sign if they did![/p][/quote]Surely the red hatted helmet has more rings of truth?? lockerbiehornet
  • Score: 1

8:52am Sat 7 Jun 14

Cleverhornet says...

Don't know much about this guy, but he seems like hes had a bit of bad luck. Why so much hate, when it seems like hes fallen on bad times
Don't know much about this guy, but he seems like hes had a bit of bad luck. Why so much hate, when it seems like hes fallen on bad times Cleverhornet
  • Score: -3

Comments are closed on this article.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree