Former Brighton Holiday Homes directors declared bankrupt
UK: The former director of the now-defunct Brighton Holiday Homes Ltd, Neil Stonehill, has reportedly been declared bankrupt, according to The Argus.
Brighton Holiday Homes Ltd ceased trading on 28 May 2019 after a note was left on the window of its Brighton office telling customers that their holiday rental bookings would no longer be valid.
It has now emerged that Stonehill, who took out a loan of £1,024,281 in addition to his salary with the company “for his personal benefit” before it closed, has been declared bankrupt along with his wife Michelle, according to insolvency firm Quantuma’s administrator’s progress report for creditors.
Following the ceasing of trading of the company, which launched 11 years ago, eight members of staff lost their jobs.
Brighton Holiday Homes previously let out accommodation in the city for tourists and holidaymakers on behalf of owners. It particularly targeted hen parties and any paying party would be required to pay for their booking in full at least six weeks in advance.
The Argus now claims that around 100 landlords and businesses in the city are owed between £1 and £500,000 by the Stonehills.
Quantuma’s report reads: “The joint administrators served the director with a statuary demand in July 2019 and the director was made bankrupt on September 17, 2019 following the issuing of a bankruptcy petition by a third-party creditor.
“The joint administrators have received the initial report on the director’s bankruptcy in October 2019 and the value of his personal assets is currently uncertain.
“The director jointly owns several properties with his wife (who was also made bankrupt on September 17, 2019) however the equity position is unclear,” adds the report.
Quantuma says that an investigation into the conduct of the company directors has been completed.
The insolvency firm commented: “The joint administrators have received the initial report on the director’s bankruptcy in October 2019 and the value of his personal assets is currently uncertain.
“The director jointly owns several properties with his wife (who was also made bankrupt on September 17, 2019) however the equity position is unclear,” it adds.
