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 involved a meticulous review of bank statements, solicitors’ files, and accountants’ records to trace significant property and cash transactions.
The outcome of these investigations was substantial. we uncovered numerous undisclosed real estate interests that were held in the names of family members in the UK and Spain, along with 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 significant claims, resulting in a total recovery of £3 million for creditors.