Watching this train wreck unfold really is quite something. Kenyon’s bold claims on Instagram never disappoint.
It is not just the creditors who should be happy with the Statutory Management. The Clarkes should be too.
Why you might say?
PwC are working away on the file, keeping the builds going, keeping the funders happy, and have stopped the endless drawings of the Clarke’s.
Just imagine what would have happened to the various entities if liquidators were appointed to each company.
You can bet that not just one liquidator would have been appointed. One liquidation firm was openly asking on LinkedIn for creditors to come forward.
Liquidators can be highly litigious when chasing debt from inter-company loans.
The assets would have been sold ‘as is where is’ to simply satisfy the need for fees to be paid.
Statutory Management is by far the best solution to the Duval problem.
Playing “Instagram chicken” with the FMA was hardly a smart play by Kenyon Clarke.
The FMA for their part seem to be slow, but maybe they are being overly methodical.
We know there is a ‘whistleblower’ in all this, but that is hardly surprising. At this point we can only speculate who this traitor is.
The Clarke’s want their passports back – but given they claim they are broke, why the need for travel?
A runner to another jurisdiction springs to mind…
