"PPE Medpro, the company linked to Baroness Michelle Mone, has been wound up after a court ruling that makes it unlikely the government will recover most of the £148 million owed over a failed pandemic PPE contract. The Insolvency and Companies Court ordered the company into liquidation on Thursday, just months after it lost a High Court battle with the Department of Health and Social Care (DHSC) over the supply of 25 million surgical gowns during the Covid-19 crisis."
"Court filings revealed that PPE Medpro's liabilities extend well beyond the DHSC judgment. HM Revenue & Customs is also pursuing the company for £39 million in unpaid tax, while the administrators reported that only around £600,000 was available to meet unsecured creditor claims. Simon Passfield KC, representing the joint administrators, told the court that PPE Medpro had one secured creditor, Angelo (PTC) Limited, registered in the Isle of Man."
PPE Medpro was ordered into compulsory liquidation after losing a High Court battle requiring repayment of £148 million linked to a failed supply of 25 million surgical gowns during the Covid-19 crisis. The company filed for administration one day before the repayment order; it was a consortium led by Doug Barrowman and linked to Baroness Michelle Mone. Judge Sebastian Prentis discharged the administrators and ordered winding up. Court filings show additional liabilities, including a £39 million HMRC claim. Administrators reported only about £600,000 available for unsecured creditors, with one secured creditor expected to recover around £1 million.
Read at Business Matters
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