| UK. Edwards update: Those with pending court cases against Quest should register claim |
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| Wednesday, 07 September 2005 | |
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Marian Martin A spokesman for the Administrators of Quest International Sports Events Ltd, which organised the Oryx Cup event, has told BYM News "The Administrators are due to shortly send a report to creditors, which will update creditors on the progress made in the Administration and the next stage for the Administration. Our position is that until creditors have been informed, it would be inappropriate to provide further details on the Administration to date." He went on to say that anyone with a pending court case, which had been stayed because of the Administration, should register their potential claim with the Administrators, Kroll Ltd., 10 Fleet Place, London EC2M7BB. One person with a pending court case, John Harwood-Bee, told BYM News that he would pursue his claim against Quest International Sports Events Ltd, adding "The magnitude of the sponsorship originally claimed ranged from £14 million to £38 million. Figures admitted in the press have exceeded £8 million. It is not difficult to calculate the costs that should have been incurred in putting on the Oryx Cup and the two publicity events held in Qatar. Given the announced sponsorship and the fact that HSBCC acknowledge contributing £3 million, there should be funds left to pay creditors and others who, like me, have pending court cases, in the event of judgement being granted in their favour. " He added "It is inconceivable that even the lower figure could have been spent on the one event and, therefore, the company should still have assets." The current status of companies with which Tracy Edwards is involved is as follows: Quest International Sports Events Ltd, formerly Maiden Events Ltd is in Administration (details of Administrators above); Maiden Ocean Racing Qatar Ltd is in Compulsory Liquidation (Official Receiver, 21 Bloomsbury St, London); Companies House has received Proposals to Strike Off Maiden Ocean Racing Ltd and Maiden Two Ltd, which is the company being sued by Bruno Peyron. Related articles Tracy Edwards: "much has been destroyed by this" says Bruno Peyron DTI investigates Edwards companies; Administrator says "No conflict of interest" Those with pending court cases against Quest should register claim "Who owes the prize money?" "Who owns the boat?" asks Larsen; Bullimore won't talk "Yachtswoman Tracy Edwards declared bankrupt, debts could be £8 million |
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| Last Updated ( Friday, 09 September 2005 ) |
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