Joint liquidators Jamie Taylor and Kirstie Provan of Begbies Traynor have concluded a settlement in respect of a seven figure claim brought against the directors of Centaur Global Limited (Centaur).
Centaur provided members of the public and institutions with the opportunity to invest in gaming related funds and in gambling. Centaur was placed into liquidation in January 2012 owing creditors more than £2,000,000 including a significant shortfall of client account monies.
Whilst the precise details of the settlement remain confidential under the terms of the agreement, the liquidators with the assistance of a legal team led by Dan Sejas at SGH Martineau LLP, have been able to achieve significant recoveries for the benefit of creditors.
Jamie Taylor, joint liquidator of Centaur Global Limited commented:
“Following the liquidation, most of the creditors did not expect to recover any monies owing to them. I am delighted that by using our expertise we have been able to recover a significant proportion of the overall loss within an unusually short time frame.
“The operation of the company was the subject of a full investigation by the Contentious Insolvency Division at Begbies Traynor, and by progressing proactive aggressive litigation against the directors, we have within a very short period of time maximized the potential recovery of funds on behalf of the creditors.”
It is anticipated that all assets will be realised over the next 12 months.
Jamie is a fellow of the Society of Practitioners of Insolvency, a member of the Institute of Directors, a fellow of the Insolvency Practitioners Association and a member of the Institute of Credit Management. He established Taylor Gotham & Fry in 1991, now the Southend office of Begbies Traynor. Jamie is experienced in all insolvency matters.