Devon investment firm with links to Royal Family appoints administrators
An investment firm with links to the Royal Family has appointed administrators.
Thomas Kingston, who was the late husband of Prince and Princess Michael of Kent’s daughter, was director of Plymouth-based Devonport Capital Ltd from 2017 until his death at the age of 45 last year.
He ran the company with fellow director Paul Bailey.
RG Insolvency based in Hertfordshire have been appointed as administrators.
Documents filed at Companies House show that the company owed unsecured creditors a total of £29.5m, including £825,000 to Bailey’s Plymouth-based Gunwharf Holdings Ltd, one of two holding companies that controlled Devonport Capital.
But assets of £32m are expected to be realised, according to the company’s statement of affairs, and there is expected to be a surplus of £2.5m after creditors are paid.
The Devonport Capital website says: “Michael Goldstein, Avner Radomsky and Charlotte Jobling were appointed joint administrators of Devonport Capital Limited. The company’s affairs, business and property are being managed by the joint administrators, acting as agents and without personal liability.
A spokesperson for the company has been reported in the press as saying the best way to ensure a fair allocation of funds was to place the business into administration.
