Financial sleuths probe bankrupt property tycoon

IT MIGHT seem that things couldn’t get any worse for Birmingham-born property tycoon Kevin Cash, who, as I disclosed, was declared bankrupt last month, after which he placed North Aston hall, his magnificent Oxfordshire mansion, on the market for £28 million.

this week saw the Official Receivers replaced by FRP Advisory, the firm which investigated Sir Philip green’s old company BhS after it went into liquidation.

‘We have nominated Paul Atkinson and Paul Allen of FRP to be formally appointed as Joint trustees in place of the Official Receivers,’ explains Ian Baker, of City litigation specialists PgB gitlin Baker. ‘their job is to investigate and root out any hiding of assets or what are known as avoidance dispositions.’

trustees in bankruptcy have their fees agreed by the creditors, though those fees typically depend on how much they recover. ‘they only eat when they kill,’ says an observer. time will tell if Cash — previously worth an estimated £500 million — proves to be easy meat.