{"id":320,"date":"2025-04-29T14:13:43","date_gmt":"2025-04-29T14:13:43","guid":{"rendered":"https:\/\/animemangaheaven.com\/?p=320"},"modified":"2025-05-06T10:59:14","modified_gmt":"2025-05-06T10:59:14","slug":"ex-porn-baron-embroils-bank-in-legal-war-against-ukgc-over-uk-lottery-contract","status":"publish","type":"post","link":"https:\/\/animemangaheaven.com\/index.php\/2025\/04\/29\/ex-porn-baron-embroils-bank-in-legal-war-against-ukgc-over-uk-lottery-contract\/","title":{"rendered":"Ex-Porn Baron Embroils Bank in Legal War Against UKGC Over UK Lottery Contract"},"content":{"rendered":"

The post Ex-Porn Baron Embroils Bank in Legal War Against UKGC Over UK Lottery Contract<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n

<\/div>\n

Desmond still fighting <\/h2>\n

Billionaire ex-porn baron Richard Desmond has taken his beef with the UK\u2019s gambling regulator to another level after drawing long-established investment bank NM Rothschild into the legal conflict. <\/p>\n

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prickly thorn in the body\u2019s side <\/p>\n<\/blockquote>\n

While multiple parties have unsuccessfully filed suits against the UK Gambling Commission over its awarding of the National Lottery contract to Czech firm Allwyn Entertainment, Desmond remains a prickly thorn in the body\u2019s side. <\/p>\n

In his latest legal action, the media kingpin\u2019s firm Northern & Shell has alleged the UKGC failed to execute due diligence on a conflict of interest involving Rothschild. <\/p>\n

Northern & Shell has requested the High Court in London to demand that Rothschild hand over related documents as part of its suit against the UKGC. <\/p>\n

Desmond using his influence<\/h2>\n

Desmond\u2019s firm wants the High Court to declare the UKGC\u2019s lottery contract process unlawful, and is seeking damages in the case that is expected to head to trial later in 2025.<\/p>\n

Northern & Shell claims Rothschild, who advised the UKGC on the lottery tender process, had a prior conflict of interest with Allwyn.<\/p>\n

According to the Financial Times<\/em>, Rothschild is not party to Northern & Shell\u2019s ongoing battle against the UKGC.<\/a> Desmond, however, holds significant sway over the UK government\u2019s executive agency of the Department for Business and Trade, Companies House, and has made Rothschild\u2019s role part of his suit against the regulator.<\/p>\n

Northern & Shell\u2019s lawyer Daniel Toledano KC stated in written arguments for a hearing that the UKGC \u201cdid not adequately investigate a conflict of interest, or apparent conflict of interest, in respect of its use of Rothschild.\u201d<\/p>\n

Toledano argued that the bank possessed sensitive information during the UK lottery tender, including \u201call sections of every applicant\u2019s application.\u201d<\/p>\n

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bank invested in a bond issued by Allwyn<\/p>\n<\/blockquote>\n

The bone of contention is that Allwyn paid Rothschild a discretionary fee for advising on an investment with Greece\u2019s lottery operator in 2019, and that a subsidiary fund managed by the bank invested in a bond issued by Allwyn before the firm rebranded.<\/p>\n

Desmond\u2019s firm wants Rothschild to disclose documents, \u201cincluding internal correspondence and details of the bond investment.\u201d<\/p>\n

Counter arguments<\/h2>\n

According to the FT<\/em>, Rothschild\u2019s attorney Valentina Sloane KC told the hearing that Northern & Shell\u2019s disclosure application was \u201cexceptional and intrusive\u201d and was irrelevant to Desmond\u2019s case against the UKGC. <\/p>\n

Allwyn\u2019s lawyer Mark Howard KC urged the London High Court to refuse the disclosure application, branding Northern & Shell\u2019s demand for documents a \u201cfishing expedition.\u201d<\/p>\n

The UKGC, meanwhile, stated it does not comment \u201con ongoing legal proceedings.\u201d<\/p>\n

The regulator must be sweating nevertheless, with its competence also called into question last month after news it mistakenly sent over 4,000 sensitive documents relating to the lottery lawsuit<\/a> to Desmond\u2019s legal team.<\/p>\n

The post Ex-Porn Baron Embroils Bank in Legal War Against UKGC Over UK Lottery Contract<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The post Ex-Porn Baron Embroils Bank in Legal War Against UKGC Over UK Lottery Contract appeared first on Vegas Slots Online News. Desmond still fighting Billionaire ex-porn baron Richard Desmond has taken his beef with the UK\u2019s gambling regulator to another level after drawing long-established investment bank NM Rothschild into the legal conflict.  prickly thorn…<\/p>\n","protected":false},"author":1,"featured_media":281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"_links":{"self":[{"href":"https:\/\/animemangaheaven.com\/index.php\/wp-json\/wp\/v2\/posts\/320"}],"collection":[{"href":"https:\/\/animemangaheaven.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/animemangaheaven.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/animemangaheaven.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/animemangaheaven.com\/index.php\/wp-json\/wp\/v2\/comments?post=320"}],"version-history":[{"count":1,"href":"https:\/\/animemangaheaven.com\/index.php\/wp-json\/wp\/v2\/posts\/320\/revisions"}],"predecessor-version":[{"id":321,"href":"https:\/\/animemangaheaven.com\/index.php\/wp-json\/wp\/v2\/posts\/320\/revisions\/321"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/animemangaheaven.com\/index.php\/wp-json\/wp\/v2\/media\/281"}],"wp:attachment":[{"href":"https:\/\/animemangaheaven.com\/index.php\/wp-json\/wp\/v2\/media?parent=320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/animemangaheaven.com\/index.php\/wp-json\/wp\/v2\/categories?post=320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/animemangaheaven.com\/index.php\/wp-json\/wp\/v2\/tags?post=320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}