Grant Thornton call in lawyers to Asil Nadir case

GRANT THORNTON bankruptcy trustee Kevin Hellard has called in lawyers to help with investigation of businessman Asil Nadir.

The head of fraud insolvency at Grant Thornton recruited a team of lawyers from Howes Percival to help with his investigation, including insolvency and corporate recovery partner Nick Oliver.

Oliver said: “We have been instructed by Kevin Hellard, in his role as trustee, to assist his investigations into Mr Nadir’s financial affairs to see if he has acquired any assets that can be recovered for his creditors.”

Nadir entered into bankruptcy following the collapse of his company Polly Peck in 1990. The business, which made colour TVs and owned newspapers in Turkey, owes creditors about £374.6m.

Normally a bankruptee is discharged after 12 months. However, Nadir fled to Cyprus in 1993, meaning his bankruptcy order continued.

Hellard is due to meet the former Polly Peck owner and will investigate assets around the world with the help of Howes Percival.

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