Ricky Bobby 10:33 Fri Mar 31
Karen Millen stiffed by the Icelandic banks
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http://www.dailymail.co.uk/news/article-4366622/Karen-Millen-declared-bankrupt-6million-tax-bill.html
Genuine question to the great and good of WHO
How can someone known to have a net worth of $60M be allowed to become bankrupt over a £6M tax bill?
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Replies - Newest Posts First ( Show In Chronological Order)
eusebiovic
12:29 Sun Apr 2
Re: Karen Millen stiffed by the Icelandic banks
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*financial crisis
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eusebiovic
12:28 Sun Apr 2
Re: Karen Millen stiffed by the Icelandic banks
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The newly constituted Icelandic parliament whjch came into place as a result of the final island crisis of 2008 have been closing all the loopholes that the previous model of disaster corporatism left wide open.
Good for them...Not so hot for everybody else who exploited it...
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Sven Roeder
10:34 Fri Mar 31
Re: Karen Millen stiffed by the Icelandic banks
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We were stiffed by Icelandic Banks too
Plus we are playing like a bunch of frock wearers at the moment
Couldn't be MORE West Ham
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BRANDED
10:29 Fri Mar 31
Re: Karen Millen stiffed by the Icelandic banks
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Not too West Ham this.
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Sven Roeder
10:28 Fri Mar 31
Re: Karen Millen stiffed by the Icelandic banks
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She had sold the business years before so don't think she has any warehouses of frocks.
As I understand it she got tied up with the Icelandics in some tax avoidance thing.
And got divorced.
Whether all the cash and assets have disappeared into some black hole outside her control I wouldn't want to say.
She is from Kent originally after all
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Dicko75
10:24 Fri Mar 31
Re: Karen Millen stiffed by the Icelandic banks
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Ricky
You ever heard the saying cash is king???
A bigger risk to almost any business is not how profitable it is or what assets it owns but what it's cashflow looks like. If it hasn't got the means to pay its bills when they come due then basically...its fucked.
Millen can have all the jumpers in the world stockpiled in some sweathouse in India but if she can't square the taxman or the loan repayments she's bankrupt.
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Cheezey Bell-End
5:47 Fri Mar 31
Re: Karen Millen stiffed by the Icelandic banks
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Sounds like she's smart. In Donald Trump world anyway.
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Sniper
1:25 Fri Mar 31
Re: Karen Millen stiffed by the Icelandic banks
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Never actually bankrupt
Anyone that minted has money all over the shop - it's just an easy way to avoid a huge tax bill
It's like that test from West life who started a building company with his brother and then claimed to bankrupt during the financial crisis. They just screwed over all their suppliers and small local companies they never paid, whilst he continues living in his luxury mansion, probably with all his cash in his wifes account.
Also known as 'doing a portsmouth'
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,
1:12 Fri Mar 31
Re: Karen Millen stiffed by the Icelandic banks
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Mullen dealt with the Icelandic banks in a move designed to avoid UK taxes. The fact is that in so doing she actually ended up evading payments she should have made to the inland revenue.
It's really us that 's been stiffed by her.
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Razzle
12:55 Fri Mar 31
Re: Karen Millen stiffed by the Icelandic banks
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Just greedy.
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