Our UK company was awarded a five-figure County Court Judgement against Mike Baghdady last year. He was ordered to pay all our costs in bringing this case against him.
During our legal challenge, Mike Baghdady responded by wantonly lying about us in a completely fictitious counterclaim. The counterclaim was thrown out by the judge because no evidence was provided by him to support it. Around this time, Mike Baghdady ran away to the US, leaving debts in London of hundreds of thousands of pounds: he owes money to his own lawyers, HMCE, the Inland Revenue, some of his former staff, a small army of third-party suppliers and he still owes us 100% of the amount the judge ordered him to pay our company.
While there is a lot of speculation, opinion and parody on this thread, it remains a **very** important resource, because it contains some very hard facts that otherwise would be successfully swept under the carpet by Baghdady's on-going attempts to whitewash his reputation, online and otherwise.
I am providing below part of a communication I have just received from the liquidators of his Training Traders company in London. I hope it provides assistance to anyone else in the same situation we have been left in by Mike Baghdady...
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TMZF Limited - in creditors' voluntary liquidation
Progression of the liquidation has been challenging. The recovery of the company's books and records took some time; I have managed to retrieve some of them. The important documents relating to my work was retained by TMZF Limited's former solicitors, Messrs Turbervilles, Solicitors.
I have managed to make contact with them for retrieval of the records that will assist me in realising the following assets:
• Rent deposits from the former landlord; Turbervilles Solicitors holds all the legal documents
• Assets such as computer screens and other trading paraphernalia; the asset register is not with the books and records that I have retrieved, I believe the solicitors hold this.
• Recovery of the book debt from Chapter 11 proceeds in the USA. Mr Baghdady is not convinced that this is an asset due to the company. However, TurbervilIes are assisting me to provide paperwork to make a robust claim in those proceedings.
I have managed to realise a book debt of £2,000 owed from a set of brokers that TMZF Ltd (in liquidation) used to use; these funds have been used in settling the statutory costs of liquidation, such as specific bonding insurance and statutory advertising. I have taken no liquidators fees. I will be able to report some positive news by the anniversary of the liquidation, where I will be reporting on progress to all creditors.
You had originally sent me information to investigate regarding Mr Baghdady and your belief that he was still trading as Trading Traders Limited (the former name of TMZF Ltd) as his image was splashed all across the internet. I have had an independent solicitor at Kingsley Napley LLP review this for me at no cost to the liquidation. Kingsley Napley LLP has confirmed that whilst Mike Baghdady is behind TT Training Traders he is using his own intellectual property, his system, which he is free to do. Furthermore, TT Training Traders is an entity trading from 37 Kolonakiou Avenue, Linopetra 4103, Limassol 4103, Cyprus, which is not TMZF Ltd (in liquidation) trading as Trading Traders.
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