Investigators 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.
