News Article: Eugene Melnyk lawsuits:too many to count...

[OgieO]

Ahhh, so Melnyk had an account with a casino via the TD bank, quite common for high rollers (they don't walk into the casino with $1,000,000 for obvious reasons). Elected to use it, but it seems, did not have the money in his account so the casino now looking to get paid, as they should.

This is really embarrassing, lol. Just f***ing sell you jackass.

 

[Nac Mac Feegle]

So frustrating. Because this is a team that will perpetually need to fight for more revenue share to help it compete...which wouldn't be as hard an argument if all small market owners were doing everything they can to make things work:

4 Key Marketing Tactics That Generated $4 Million in New Ticket Sales

vs. cost cutting, investing nothing, and then whining for more even though you can't hit the cap floor.

Great article. And so many nifty marketing moves that barely cost any money for Carolina to do. (In particular, the Homegrown Series....that's how you endear yourself to YOUR market. Be an active part of it.)

 

[thinkwild]

I agree Nac, those were some good points about the effectiveness of Carolina marketing. I like his point about 'Embrace the Haters' re the bunch of jerks. Not banning them. New management would have to use some of those marketing strategies to win back the community and increase revenues by millions like Carolina’s effective marketing team did.

The cap keeps rising of course because it is linked to league revenues that keep growing. The escalator each year is really just a prediction of where revenues will be in the next year from which the salaries they are about to negotiate will be paid from. Their predictions of 5-7% growth have traditionally been pretty accurate. The teams overspend anyway causing escrow retention by the league. Which you would hope would be redistributed in a revenue sharing type way. But was there something about that escalator prediction for the 1st time not rising lately? Maybe growth will slow a bit.

One of the good trends had been the percentage of league revenues that are centrally generated and thus eligible to be distributed in a revenue sharing type way. I don’t know where things stand now but it used to be that the NHL was a gate driven league, but then with digital rights and sponsorships and other such things, central revenues came to make up more than 50% of league revenues. So ensuring no owner needs to scrape the bottom of the barrel to ice a roster would seem well within their means now if that's a goal of theirs.

There always seems to be something needing to be reigned in. Its like a water balloon and you cinch it around the middle to contain spending somewhere and it pops out somewhere else. So you cinch another belt around that part of the balloon and the problem pops out somewhere else.

 

[Gil Gunderson]

So frustrating. Because this is a team that will perpetually need to fight for more revenue share to help it compete...which wouldn't be as hard an argument if all small market owners were doing everything they can to make things work:

4 Key Marketing Tactics That Generated $4 Million in New Ticket Sales

vs. cost cutting, investing nothing, and then whining for more even though you can't hit the cap floor.

To be honest there’s probably nothing Melnyk can do at this point that will win fans back marketing-wise.

His reputation is in the gutter and everything will look desperate, even if it’s a good idea.

 

[Stylizer1]

To be honest there’s probably nothing Melnyk can do at this point that will win fans back marketing-wise.

His reputation is in the gutter and everything will look desperate, even if it’s a good idea.

10 sell outs in a row, Melnyk Dunk tank lottery.

 

[slamigo]

Oooph
Looks like there was something to that private jet tweet....

https://www.cbc.ca/news/canada/otta...egal-action-to-get-private-jet-back-1.5287642

 

[L'Aveuglette]

Oooph
Looks like there was something to that private jet tweet....

https://www.cbc.ca/news/canada/otta...egal-action-to-get-private-jet-back-1.5287642

This part though:

In the legal filings, Flightpath said it believed Melnyk's company also owed money to a host of other companies including the Ottawa International Airport Authority, the Port Authority of New York and New Jersey, and Ottawa-based navigation company NAV Canada.

Not that this is a surprise to anyone who has done business with Melnyk but here it is in full display. Guy just doesn't give a crap about paying his bills/debts. Absolute deadbeat.

 

[JD1]

This part though:


Not that this is a surprise to anyone who has done business with Melnyk but here it is in full display. Guy just doesn't give a crap about paying his bills/debts. Absolute deadbeat.

Did you miss the part of that article where his lawyer indicated that the full amount in dispute has been paid to the court and is being held in trust pending a court decision?

 

[AchtzehnBaby]

Oooph
Looks like there was something to that private jet tweet....

https://www.cbc.ca/news/canada/otta...egal-action-to-get-private-jet-back-1.5287642

The end is near....

 

[Sun God Nika]

Hopefully this is finally the start to what we have all been waiting for.

 

[BloodRedArmy]

Oooph
Looks like there was something to that private jet tweet....

https://www.cbc.ca/news/canada/otta...egal-action-to-get-private-jet-back-1.5287642

It's all happening...

 

[Gil Gunderson]

This man will spend to the cap soon.

 

[L'Aveuglette]

Did you miss the part of that article where his lawyer indicated that the full amount in dispute has been paid to the court and is being held in trust pending a court decision?

No I didn't, but I'm very surprised you of all people would bring it up.

 

[slamigo]

Did you miss the part of that article where his lawyer indicated that the full amount in dispute has been paid to the court and is being held in trust pending a court decision?

Only because the company was applying to place a lien on the plane. There’s no way to sugarcoat this.

 

[discostu]

Only because the company was applying to place a lien on the plane. There’s no way to sugarcoat this.

Yeah, hard to minimize this from a financial perspective.

Two separate creditors have launched legal action to get their debts repaid. That's an option that you only undertake as a final resort.

Other creditors are likely watching this and realize that in order to get paid, you need to get your claim in there early. I wouldn't be surprised to see more litigation surface in the next few weeks and months.

Once the season starts, the watch is on if payroll is ever missed. That would be the trigger event for the league to intervene.

 

[Nac Mac Feegle]

Clean Beauty Collective....never heard of it.

 

[bert]

Did you miss the part of that article where his lawyer indicated that the full amount in dispute has been paid to the court and is being held in trust pending a court decision?

Oh ok all is forgiven no pattern here everyone move along.

 

[TheNewEra]

Oh ok all is forgiven no pattern here everyone move along.

At least he isn't teaching liens

 

[AchtzehnBaby]

Can courts sieze your accounts/assets based on pending lawsuits? I would think so.

It must be related to this unless he gambled it all away

 

[JD1]

Waiting for certain posters to come in and explain how our knowledge of liens is completely wrong

I don't think your knowledge of liens is wrong....at least what I read in the CBC article is their seems to be a dispute regarding monies owed, an amount of money equal to the full amount was placed in trust with a court and the court will decide what's owed.

I dont like the guy either. I hope he is forced to sell. But no business that consumes services pays bills they dispute and then takes action to recover their money. Standard practice to dispute the bill and sort it out.

What's shocking to me....and presuming it is true....is Melnyk paying the amount in full to a court and letting a court decide what the bill is....far more Melnyk like would be to not pay the amount to a court and fight to the end...but I guess he needed the lien removed to continue to access the plane

 

[TheNewEra]

I don't think your knowledge of liens is wrong....at least what I read in the CBC article is their seems to be a dispute regarding monies owed, an amount of money equal to the full amount was placed in trust with a court and the court will decide what's owed.

I dont like the guy either. I hope he is forced to sell. But no business that consumes services pays bills they dispute and then takes action to recover their money. Standard practice to dispute the bill and sort it out.

What's shocking to me....and presuming it is true....is Melnyk paying the amount in full to a court and letting a court decide what the bill is....far more Melnyk like would be to not pay the amount to a court and right to the end...but I guess he needed the lien removed to continue to access the plane

It wasn't directed at you trust me you will know it when you see it

You are correct he had to do that to get the lien removed. If it was a bill dispute between parties melnyk could still use the plane but the lien complicated things so he had to show he he could somehow pay

At the same time considering all the recent lawsuits it seems like he is shifting money around like a house of Cards, let's see how long it lasts. Since the casino filed their lawsuit first their is a possibility that lawsuit gets resolved first so they would need to be paid somehow. Now other creditors are going to realize this is how you get paid.

Like at the very least how do you not pay for fuel for your own plane

 

[The Lewler]

You ever get the feeling that he has run out of fingers to plug the holes in the dam?

 

[Micklebot]

Did you miss the part of that article where his lawyer indicated that the full amount in dispute has been paid to the court and is being held in trust pending a court decision?

I think the more pertinent fact is that this is over a dispute about invoicing; Melnyk claims to have been disputing the amounts invoiced and as recourse opted to withhold payment. The company then applied to put a lien on the plane.

Withholding payment seems more reasonable when framed as a contract or invoice dispute as opposed to just not keeping up with his bills.

All that said, the lawsuits seem to be mounting up. That's the third active suit that I'm aware of that appears to claim he didn't pay for something he was contractually obligated to.

but I guess he needed the lien removed to continue to access the plane

I suspect you are right about this.

 

[discostu]

Very little faith should be put in the comment that they are disputing the bill. Yes, it's possible to have billing disputes, but it's also the first tactic for anyone trying to avoid paying their bills. The fact that the article references other creditors allegedly having issues with payment, plus the casino, indicates that it's a pattern.

 

[Sens of Anarchy]

Good time to short Eugene Melnyk