Will cheat squan­dered his neigh­bour’s £275k legacy

Daily Express - - NEWS - By Cyril Dixon

A MAN who was made ex­ecu­tor of his el­derly neigh­bour’s £275,000 will has squan­dered al­most all the money, the High Court heard yes­ter­day.

Anita Bor­der left half her es­tate to Emma Cullen and half to an­other friend, Par­min­der Gibbs.

But the court heard that after Mrs Bor­der died aged 71, her ex­ecu­tor David Love­day, 43 – who is Miss Cullen’s boyfriend – sold the Vic­to­rian house which made up most of her wealth and spent the cash at Ar­gos, on Net­flix and public trans­port fares.

Ms Gibbs never re­ceived her share be­cause there was only £1,300 left in the es­tate’s bank ac­count.

Mr Jus­tice Nor­ris warned Love­day he faces up to two years in jail after he ad­mit­ted con­tempt of court by fail­ing to ful­fil his du­ties as ex­ecu­tor.

The judge said: “The max­i­mum term is a sig­nif­i­cant sen­tence. This is se­ri­ous business.

“No prop­erty or monies were handed over and no ac­count was filed or lodged. He did not trans­fer any prop­erty what­so­ever. This is a case, at the least, of se­ri­ous and sev­eral breaches of or­ders of the court and un­der­tak­ings for which Mr Love­day him­self vol­un­teered.”

Hugh Cum­ber, bar­ris­ter for Ms Gibbs, said Mrs Bor­der died two years ago, leav­ing Love­day to or­gan­ise the sale of the house in Plum­stead, south-east London.

He said: “Grave con­cerns arose as to Mr Love­day’s con­duct as ad­min­is­tra­tor.

“What he was re­quired to do was to trans­fer the prop­erty, or 50 per cent of the net pro­ceeds of the prop­erty. He has un­doubt­edly failed to do that. On his own ev­i­dence he ap­pears to have squan­dered the money. It is rather unattrac­tive for Mr Love­day to say, ‘I couldn’t pay over the pro­ceeds of sale be­cause I have spent them’.

“We know he re­ceived £275,000 pro­ceeds of sale be­fore tax and sale costs. We need to know where the net pro­ceeds of sale – £222,000 – went.

“It ap­pears to be his po­si­tion that he has made a sub­stan­tial pay­ment from the es­tate’s as­sets to his part­ner Emma Cullen.”

Si­mon Lane, for Love­day, said: “It is clear that the sums in the ac­count were used to de­fray day-to-day liv­ing ex­penses.” He pointed out that Miss Cullen was en­ti­tled to half Mrs Bor­der’s es­tate and has not been ac­cused of any wrong-do­ing.

Mr Lane said: “What is likely to be­come clear is that the money was spent be­cause it was re­garded as be­ing partly hers.”

Love­day, of Welling, south-east London, ad­mit­ted con­tempt of court on three grounds. The judge ad­journed sen­tenc­ing un­til next month.

Pic­tures: CHAM­PION NEWS

Ex­ecu­tor David Love­day out­side court yes­ter­day and Mrs Bor­der’s former home in south-east London which he sold

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