You’re hired. You’re fired.
Barely weeks after Manny Pacquiao hired VisionQwest Resource Group to do the accounting for all his business and personal interests, it was reported yesterday that the accounting firm has been fired.
“Our office just received a letter via fax from Manny’s attorney from Los Angeles terminating our services to Manny,” VisionQwest Resource Group president and CEO Michael Lodge told FightHype.com yesterday.
The same boxing website reported a couple of days ago that there were efforts to have VisionQwest removed as Pacquiao’s accounting firm, and despite some denials, it was reported as having been done.
But VisionQwest hinted that it could be easier said than done, and that it could be holding on to a binding contract with the Filipino pound-for-pound champion.
“We have forwarded the letter (from Pacquiao’s attorney) to our legal counsel to respond accordingly. As you know, there has been a lot of pressure upon Manny from outside sources to remove us from his accounting firm,” Lodge also said.
Ben Thompson of FightHype.com wrote that “it is clear that someone has convinced Pacquiao he is no longer in need of the company he originally hired to ensure all of his accounting, both personal and business, is in order.”
Pacquiao’s chief adviser, Michael Koncz, had said a couple of days ago that Bob Arum, the Top Rank chief and Pacquiao’s promoter, has nothing to do with the hiring and firing of VisionQwest.
But whoever is behind the move, or even if it was solely Pacquiao’s decision to terminate the services of VisionQwest, the latter said they will deal with the manner accordingly.
“Our firm will deal with this issue in a legal manner under the contract laws afforded us as a business on the issue of interference in one’s business. We will be forthcoming upon our attorneys review as to what our response will be.
“As you know, we are in the Philippines meeting with our counterparts in legal and accounting prior to meeting with Manny. However, it now appears that this is a legal matter that needs to be dealt with in the correct manner,”
Lodge was quoted as saying.
He said they will wait for the review of their attorneys in the United States and the Philippines, where VisionQwest also holds office aside from its quarters in Beverly Hills, United Arab Emirates and London.
SOURCE: The Philippine Star (Pacman ending deal with accounting firm? by Abac Cordero)
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