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Matt

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    Marwan Koukash, a bullet dodged?

    in The opinions4u Terraces - Latics Forum

    Posted

    From Private Eye, No. 1340

    "Successful racehorse owner Marwan Koukash emerged earlier this year as the rescuer of Salford Reds rugby league club. He acquired control of the club as it was threatened with winding up by the tax man.

    Koukash, a Palestinian from Kuwait who has lived in Britain for many years, was described as a millionaire businessman on the back of his training business EuroMaTech, which has operations in Liverpool and the United Arab Emirates. However, other ventures have been less successful.

    El Layla Properties and Layla Hotels Liverpool collapsed in January and March last year. The property company was owned by Koukash and his wife Amanda. El Layla owned a site in St Helens that cost £500,000 in 2006, was bought with a £392,000 mortgage from the Co-operative bank but was valued last year at just £250,000 and received a bid of just £10,000 - no doubt typical of the bad loans that threatened Co-Op bank's future. Creditors are owed £1.4m.

     

    Layla Hotel Liverpool was a proposed prestige project subject to prolonged delays but is no operating as a Hilton hotel. Koukash transferred his 50% to the company Iliad Koukash in 2011. Iliad reportedly sold out to Dubai investors. The hotel company listed no assets and a deficiency for creditors of £292,000.

     

    Koukash is also a director and shareholder of the Oxford Management Centre, which is being threatened with striking off due to the failure to file any accounts since 2011.

    No doubt the prospects for Salford Reds will be much brighter."

     

     

     

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