PKF piped in to deal with The Plumber
An entrepreneur known as 'The Plumber' has been declared bankrupt owing more than £20m.
Link: Insolvency Service to chase bankrupts’ pensions
Paul Davidson, a 50-year-old businessman based in Cheshire, is set to be investigated by PKF who will represent various creditors.
PKF partner and head of corporate recovery, Philip Long, will head the investigation along with Kerry Bailey.
‘The responsibility of trustees is to see if any assets can be recovered for the benefit of creditors, and we welcome any help or information which might be useful with our enquiries,’ Long said in a statement.
‘Information is being gathered and we will shortly be convening a creditors’ meeting.’
Davidson had previously received a £750,000 fine from the FSA after placing a spread bet during the flotation of Cyprotex, a company in which he was involved. He is still contesting the decision.