Barry McGuigan questioned about promotions company at High Court

Belfast boxer Carl Frampton’s former manager Barry McGuigan has faced questions over company directorships and business bank accounts as part of a multimillion pound legal battle with the sports star. Mr McGuigan was back in the witness box on Friday, facing further cross-examination. Carl Frampton is suing him for alleged unpaid earnings, while Mr McGuigan is making a counter claim against the champion boxer for breach of contract. Both men deny the allegations against them.

Mr McGuigan was asked about the formation of Cyclone Promotions Limited NI in 2013. He along with members of his family were made directors of that company. So were Carl Frampton and an investor. Barry McGuigan was the sole shareholder and named as filing the accounts. When asked why his family were directors he said, "they worked their cotton socks off to make that young man a success". When it was put to him the company was a vehicle for the McGuigan family to make money - he replied that is "completely untrue". When asked about details surrounding accounting, Mr McGuigan repeatedly said that wasn't his area of expertise. He said Carl Frampton was made a director for transparency. Something that was not accepted by Mr Frampton's legal team. Mr McGuigan said he wanted Carl Frampton to have the right to see the books, something he claimed the boxer never asked to do, because he said Mr Frampton was happy with the purses he was earning. Barry McGuigan was asked about a business current account set up after the formation of the company. That account listed transactions at restaurants, an antiques shop and a veterinary surgery all in England. Carl Frampton's barrister asked what these had to do with his client’s career. It was put to Barry McGuigan that his family was using the account for personal expenses. "It appears so yes," he said. On the matter of ticket sales Mr McGuigan said it was straight and above board. He described Carl Frampton as a "smart kid". When it came to spreadsheets, he claimed Mr Frampton could have asked for them, but Mr McGuigan himself said he wasn't interested in spreadsheets, he was interested in training. The case continues.