The recovery of a gold bullion dealer’s assets to pay off millions of pounds of debt is underway after trustees were appointed this week.
Insolvency and restructuring firm CVR Global was instructed on June 11 to recover up to £14m of debt built up by James Stunt – the former husband of Formula 1 heiress Petra Ecclestone – after he was declared bankrupt by the high court earlier this month.
Ian Defty and James Dowers, partners at CVR Global, will begin the process of identifying and realising Stunt’s assets to pay creditors, which are thought to include a gambling firm, solicitors and bodyguards.
Defty said: “Stunt’s assets have been protected by a criminal restraint order, but we will be working with his creditors and the CPS to identify assets that are available to realise and distribute to creditors.
“This, unfortunately, appears to be another case where the debtor has not dealt, or been able to deal with his creditors and consequently, creditor patience has run out and the debtor’s assets are at severe risk.
“This could have been less problematic for the debtor if issues were tackled earlier on and should act as a reminder to others that if you are starting to build up debt then speak to a qualified financial professional.”