Professional Services
FRP Advisory
Full Credential Description
we was appointed as the Trustee in Bankruptcy for a former high-net-worth individual who had accrued significant debts due to defaulting on an aviation loan. Initially, the individual claimed to possess various international property interests across the UK, US, Switzerland, and Spain. However, upon declaring bankruptcy, he asserted that he had no assets or income.
To address this situation, we's team conducted extensive investigations into the bankrupt's network of associates and performed a thorough analysis of his historical financial activities and property transactions in both the UK and Spain. This included a meticulous review of bank statements, solicitors’ files, and accountants’ records to uncover material property and cash transactions.
The outcome of these investigations was significant. we uncovered numerous undisclosed real estate interests held in the names of family members in the UK and Spain, as well as funds retained by various third parties. Additionally, the team identified undervalued transactions executed by the bankrupt's wife, daughters, and son-in-law. These findings culminated in a successful settlement of substantial claims, ultimately resulting in a £3 million return to creditors.