Liquidator in bid to recover £67m of investors’ cash

Philip Wright, Timothy Ackrel, Alan Pierce, and Stephanie Camilleri.

The order was served on individuals in the UK, Switzerland, the British Virgin Islands and Spain.

Mrs Brittain added that forensic accountants have been trawling a ‘large’ number of documents, bank statements and client ledgers, but that she had deemed that one of the disclosures had not complied with what was legally required.

This was Andrew Camilleri, who was fined £100,000 in July after a court found he had failed to comply on three counts: to disclose all his assets and a bank account that received a payment from DS7 Ltd; to provide an affidavit or asset documents by February 9; and for failing to provide any bank statements for all bank accounts in which he has a direct or indirect interest.

Camilleri was convicted in January at Manchester Crown Court by jury of making false representations on an individual voluntary arrangement (IVA) that would have wiped clean £9m of his debt while leaving his creditors with a pittance after he had made repeated requests for loans for his expanding property empire while offering security against the loans, when no security in fact existed.

Mrs Brittain said litigation proceedings are ongoing in connection with the various companies connected to Absolute Living Developments (ALD).

These include DS7 Ltd, which is a registered source of finance for building projects such as East Lane House in Run- corn, and 2380 Reversions, which has acted as a registered owner of the properties in question.

In the case of East Lane House in Runcorn, ALD was listed as having owed cash to DS7 Ltd, while the building itself was owned by 2380 Reversions and the project was applied for and marketed by Absolute Living Developments.

Camilleri is a registered person with significant control at 2380 Reversions, and was a 75%-shareholder at DS7 Ltd when it last filed an annual return.

Timothy Ackrel was a director at 2380 Reversions from November 2014 to July 2015, and also a director at DS7 Ltd between July 2014 and October 2015.

DS7 Ltd – where Camilleri is major shareholder and Charles Cunningham is a director – was a listed shareholder for 2380 Reversions, which is now listed as a dormant company.

Camilleri now lives in Switzerland.

Mrs Brittain said DS7 Ltd has provided copies of four existing ‘charges’ – a type of loan – in relation to four properties: Alexander House and Olicana House in Bradford, and Spa Mill in Bolton and The Printhouse in Manchester, as well as charges for Orchid Point in Manchester and East Lane House in Runcorn under its proposed rebrand of ‘ The Whitehouse’.

The liquidator said she believes the charges are not valid and is seeking to have them removed by the courts.

East Lane House has since changed hands and been boarded up following an untidy land notice from Halton Council.