£400k Transaction at Undervalue
IP Firm: London Boutique Recovery Specialist
Type of Investment: Funding the Trustee in Bankruptcy
Start Date: February 2017
Completion Date: August 2017 (7 months)
The bankrupt claimed that a substantial (though run down) property in London had been transferred to a charitable trust for the benefit of under-privileged children. In fact, despite much obfuscation by the bankrupt and certain members of her family, the property was still owned by the bankrupt and was being commercially rented.
An order for possession and sale was made by the TiB’s solicitors. The property was then sold for the benefit of the bankrupt’s creditors.
“A super result – many thanks for the support from Manolete”. – QUOTE FROM THE OFFICE HOLDER