People who bought freehold pubs from discredited pub company Provence have had a letter from the Disqualification Investigations Department of the Insolvency Service.
The letter asks questions about how much money investors were owed by Provence, run by Paul Kiely (pictured) when it entered administration in November 2006 and whether investors were aware of sub-leases on properties.
A former Provence investor told the Morning Advertiser: “The letter was accompanied by an authority from Provence’s administrator Kroll to make available any information requested in the course of the investigation into the company.”
Provence sold over 200 pubs at public auction during a period of around five years, raising a total of around £80m.
The company was the second most active vendor of pubs at public auctions behind London & Edinburgh Swallow Group.
Both companies went into administration within a six week period of each other in 2006.
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Monday, 3 March 2008
Posted by Debtsgone LTD at Monday, March 03, 2008
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