Investigators seize £1m property linked to Scotland's biggest bankrupt businessman
dailyrecord.co.ukInvestigators trying to claw back money from Scotland’s biggest bankrupt businessman Gregory King have seized a £1million property.
The controversial ex-lawyer went bust in 2017 with estimated personal debts of around £120million following the collapse of his hedge fund firm Heather Capital.Insolvency experts have been conducting a global hunt for assets which can be sold to pay King’s creditors.
As well as the luxury home in Glasgow, Begbies Traynor has identified a £5.5million Marbella villa with links to the former lawyer.The four-bed home in the affluent Whitecraigs area on the outskirts of Glasgow was bought by a Gibraltar-based property firm in 2008 for £1million.
In October liquidators finally took possession of the property, which was put up for sale at offers over £675,000 and was sold last week, with proceeds going to pay off King’s debts.Before his bankruptcy King was said to have enjoyed a lavish lifestyle owning a Mercedes, Range Rover and several Harley-Davidsons.
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