Marwan Koukash bankrupt.....

Probably invested in John Dances operation

Someone call a doctor...

Posted this on other thread, but doesn't the Doc have genuine income unlike the ponzis.
He invented an engineering tool that provided massive income?
Can patents end or maybe he has borrowed on future earnings and gone kaput that way?

The familiar silks of Marwan Koukash, the flamboyant owner famed for his passionate support of Chester races, will be absent from this week’s May meeting after he was declared bankrupt and removed as a registered owner.

Koukash, 69, was once regarded as one of British racing’s leading forces and won 582 races from 2007 to 2022, enjoying success in both valuable handicaps and Group races. He often named his horses after his son Gabrial and they raced for leading trainers Kevin Ryan, David Nicholls, Mark Johnston, Ian Williams and Richard Fahey among others.

In racing, Koukash was particularly fond of Chester. He has had over a thousand runners at the track and recorded 97 wins. They included success in the track's feature event, the Chester Cup, four times in the ten years between 2008 and 2018 with Bulwark, Address Unknown, Suegioo and Magic Circle. He vowed to receive the trophy for the last win in nothing but his tie, although he ultimately kept his clothes on amidst the celebrations.

The Palestinian-born businessman has a PHD in electrical engineering and was a lecturer at John Moores University for five years before he was appointed director of international business. He was the owner of hotels operated by Hilton, including the DoubleTree in Liverpool. He took over rugby league club Salford City Reds in 2013 and a year later he made public his ambitions to purchase a team in the Australian National Rugby League.

However, Koukash filed for bankruptcy in June 2022 and was granted a bankruptcy order petitioned by his wife Amanda in September. He had his final runner in November and, having been made aware of the order, the BHA subsequently removed him as a registered owner. His case has since been taken on by insolvency advisors Moore Recovery.

A spokesperson from the company said: "I am able to confirm that the date that the Bankruptcy Petition was presented was June 14, 2022. The Bankruptcy Order was granted on September 13, 2022. Mustafa Abdulali and Neil Dingley of Moore Recovery were appointed as joint trustees with effect from October 21, 2022."

The bankruptcy process typically lasts for a year and means Koukash's assets will be used to pay his outstanding debts.

The Companies House website lists Koukash as the former director of nine companies, all of which have been dissolved apart from the rugby league team Salford City Reds, from which he resigned following a five-year stint in 2018.

Patrick Morris, who has trained for Koukash for more than a decade, is now also listed as the owner for ex-Koukash horse Reshoun, who is set to run in Friday's tote Chester Cup. Morris also owns Heart Of Soul, Street Life and Mancini, while Hot Team and Brian The Snail fall under the ownership of Conor Morris, the trainer's son.

Koukash was approached for comment by the Racing Post but did not respond.

If you go bankrupt it means you are playing with someone else's money Jumping. No difference to a ponzi.

I mean he has future income from his invention. A tangible asset? Maybe he has over-borrowed against future income from that?

No doubt, like a lot of bankrupt's, he saw it coming and all of his personnel assets are now in his wife's name. Usually how it pans out and a lot of people owed will get next to nothing back.

Maybe Wesdag, but the ones that get involved with horses seem to lose all sense of proportionality when 'investing' in bloodstock. I think they have access to cheap money and its too much of a temptation to buy that sexy shiny horse that will get them on the TV.

His appearance on Judge Rinder should have told us all we needed to know

yonks ago

So no Gabriel’s inheritance will be put into training.

Craig Bellamy
Wes brown

Always the taxman forcing bankruptcy.they ve  made the profit,and know 9 months in advance they owe it,yet they chose to spend,effectively money that isn’t theirs.why don’t they get sent to prison for theft.

Piggott did,

Amazing how all these people seem so clever to make the money,then so clumsy at paying what they owe.

did Lester not try to pay the taxman with a cheque from an account he hadnt declared

or is that just a myth?

These people who go bankrupt and still live in a massive house driving luxury cars aren't really bankrupt. They just don't want to pay their debts.

If they end up renting a 1 bed flat with a 15 year old  car then fair enough.

But 99% of these people just are debt avoiders.

That is true but in a lot of cases people are so greedy they give big credit for big orders maybe being fooled by the image created in some cases.