PracticeConsultingLeonard Curtis called in as Prince Edward dispute lands building firm in financial trouble

Leonard Curtis called in as Prince Edward dispute lands building firm in financial trouble

Accountancy firm Leonard Curtis has been appointed receiver of a building firm placed in receivership after a £600,000 dispute with Prince Edward over repairs on his mansion in Bagshot Park.

According to reports in the Daily Mail today, Prince Edward has been unhappy about about the rising cost of refurbishing the 50-room mansion he shares with his wife Sophie in Surrey.

The work was being carried out by CJ Sims Limited, a family-owned business, based in London, employing 90 people specialising in high-quality refurbishment.

The paper quoted a royal source which said the bill for the work was at present 30% higher than the original estimate.

Keith Goodman and Stephen Swaden, partners at insolvency specialist Leonard Curtis, were appointed administrative receivers on January 31.

Goodman commented: ‘Wafer thin margins arising from fierce competition for contracts, leaves little room for error and any problems on site may be enough to irreparably damage a basically sound business.

‘That is exactly what happened here. We hope to continue operating financially viable sites whilst looking for a buyer for the business.’

Byers publishes Insolvency Bill but drops clause requiring creditors to give notice before appointing receivers

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