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Ex England manager calls in Kingston Smith 5 May 2011

Eriksson was the petitioning creditor to wind up Pier 24 Limited for a debt of £887,815 owed to him personally.

Ian Defty, partner at Kingston Smith, has been appointed liquidator of Pier 24 which traded from high quality, luxurious premises that it owned in Henley-on-Thames, Oxfordshire. Defty was approached by the legal team representing Eriksson. The former England and Manchester City coach was also a former shareholder of Pier 24.

Defty told insolvencynews: “There is substantial high quality art works and sculptures to sell, as well as the trading premises which we have placed on the market.”

Kingston Smith, which has vast experience of forensic investigations into insolvent firms, acts on panels for HM Revenue and Customs and other government agencies.

Seven years ago it set up the Forensic Insolvency & Recovery Service (FIRS), which carries out insolvency investigation work on conditional fee agreements, using a designated team in St Albans.

The team will now be looking into events that led up to Pier 24’s collapse, and how the substantial debt to the former England manager was accrued. 

Defty added: “The debt to Sven is substantial as such my team’s and my investigations into the causes of failure of the company and any individuals involved in the company will be focused on how such a large petition debt arose.

“It is believed that the company had overseas involvements and as such my investigations are wide ranging.”

 

 

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