The Statement of Affairs filed by the Company’s directors shows liabilities of £3.2Million, including £2.8Million owed to the directors. Realisable assets are estimated at £148,722.
Bolton Council reportedly (Daily Mail) provided a grant to the Company for £300,000 but no amount is shown in the Statement of Affairs; only the word ‘uncertain’ which is no doubt until solicitors have examined the legal contract to determine what amount, if any, is actually repayable to Bolton Council.
Following an intervention by the Solicitors Regulation Authority (SRA), solicitors were instructed to remove all clients’ files and keep them safe and anyone interested should now contact Stephensons.
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