Peel commissions probe into Linfoot collapse
PEEL Holdings has drafted in insolvency expert Paul Stanley to investigate the collapse of Yorkshire property group KW Linfoot.
Mr Stanley, a partner at Begbies Traynor, led the investigation into the spectacular collapse of The Accident Group – the personal injury claims firm, and recovered millions of pounds for creditors.
Manchester-based Peel, which is already on the record about its “serious misgivings” over the explanation given by the directors of Leeds-based Linfoot for its collapse,is understood to have wanted someone with a fresh perspective to handle the case along with the administrators BWC Business Solutions.
Peel subsidiary, Peel Investments (North), sought to force Linfoot into liquidation to recover cash it said it was owed from a land deal at Salford Quays, before the firm was placed into administration.
Linfoot took out an injunction to prevent Peel Investments (North) issuing a winding-up order.
Mr Stanley, pictured, said today : “The administrators’ report to creditors raised more questions than it answered and there were several large transactions which appear to have worked in Mr Linfoot’s favour to the detriment of creditors in general.
“The role of the administrators is now almost fulfilled and, at the request of 
creditors, they have agreed to allow me to be appointed joint liquidator to carry out the investigation on the creditors’ behalf.
“The strength of creditor feeling is such that significant funds have been pledged to pay for the investigation and any legal actions which may ensue.”
