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Collymore wins £1.5m in damages Collymore wins £1.5m in damages
(about 2 hours later)
Former footballer Stan Collymore has won more than £1.5m in damages from financial advisers who invested money he made from his footballing career.Former footballer Stan Collymore has won more than £1.5m in damages from financial advisers who invested money he made from his footballing career.
The ex-Aston Villa and Liverpool player of Cannock, Staffordshire, was advised to cash in his insurance policies and set up funds which later failed.The ex-Aston Villa and Liverpool player of Cannock, Staffordshire, was advised to cash in his insurance policies and set up funds which later failed.
Mrs Justice Gloster at the High Court ruled advice he had was negligent.Mrs Justice Gloster at the High Court ruled advice he had was negligent.
Mr Collymore sued Mark Francis, who traded as Chase Independent Financial Advice, and two other companies.Mr Collymore sued Mark Francis, who traded as Chase Independent Financial Advice, and two other companies.
Football punditFootball pundit
They were all now in liquidation, the court heard.They were all now in liquidation, the court heard.
Mrs Justice Gloster also ruled that the advice Mr Collymore was given was in breach of statutory obligations.Mrs Justice Gloster also ruled that the advice Mr Collymore was given was in breach of statutory obligations.
The former striker, aged 37, who is now a football pundit, first consulted Mr Francis in January 2001, the year he retired from professional football.The former striker, aged 37, who is now a football pundit, first consulted Mr Francis in January 2001, the year he retired from professional football.
David Guy, representing Mr Collymore, said the costs of the action amounted to nearly £600,000.David Guy, representing Mr Collymore, said the costs of the action amounted to nearly £600,000.
Mr Collymore also played for Crystal Palace, Southend United, Nottingham Forest, Fulham, Leicester City and Bradford City.Mr Collymore also played for Crystal Palace, Southend United, Nottingham Forest, Fulham, Leicester City and Bradford City.
He started his career as an apprentice footballer with Walsall and Wolverhampton Wanderers.He started his career as an apprentice footballer with Walsall and Wolverhampton Wanderers.
Mr Collymore and none of the defendants were at the court. Neither Mr Collymore nor any of the defendants were at the court.