Barry Gamble declared bankrupt – Croydon Court Tuesday 8th December 2015

Above: Tuesday 8th December 2015 Court listing at Croydon County Court and the Family Court for five-minute hearing of a creditor's petition against Barry Gamble at 11.30 am.

The result: Barry Michael Gamble of Tadworth (last known address) declared bankrupt with his discharge suspended.  

Although not confirmed Barry Gamble's bankruptcy is a result of the successful Misfeasance Claim brought by solicitors acting for Findlay James, the liquidator of The London Vines Ltd, a failed wine investment company. Barry Gamble was the sole director of The London Vines Ltd (appointed 26.1.2010 – resigned 9.4.2013) for much of its life. Alisdair Findlay of Findlay James was appointed on liquidator of The London Vines Ltd on 31st October 2013. 

In the first Liquidator's report (17.12.2014) Findlay reported that:

'Following an analysis of the company bank statements  for the period 1 February to the date of liquidation it was discovered that large sums of money had been paid to the shareholders and relatives of shareholders for which there were no records to substantiate the payments. Despite writing to each of the individuals involved, none were able to provide satisfactory responses and as such I instructed solicitors to commence recovery proceedings. A claim was drafted against Barry Michael Gamble, Robert Scott Phillips, Amanda Sarah Gamble, Sylwia Phillips, and David Phillips. An offer of £27,000 was made and accepted in respect of the claim against David Philiips in the sum of £33,776.'

'A judgement in default was obtained against Barry Gamble in the sum of £741,647.45.'

!!!

Interestingly on 3rd June 2015 Gamble described the liquidation of The London Vines and the Misfeasance Claim as fraudulent: 'regarding the fraudulent insolvency of The London Vines and subsequent fraudulent and false claim'.

Gamble put this view to the test on 17th September in Birmingham seeking to  to have the default judgment overturned. He failed, so English Law confirmed the Misfeasance in the running of the company – in common parlance the 'removal of large sums of money' from The London Vines Ltd by its directors and shareholders with 'no records to substantiate the payments' and with no satisfactory explanations indicates that this was a scam. Now this has led to Barry Michael Gamble's bankruptcy (8th December 2015).

The Liquidator's December 2014 report also stated that: 'We are still awaiting confirmation from the Court of Judgment in default against Amanda Gamble in the sum of £179,263.61.' It is not known what the current status of this potential judgment against Amanda Gamble is. The Liquidator's second report due by the end of this year may shed more light.       

Barry Gamble (ex-director of The London Vines Ltd) declared personally bankrupt

The Marshalsea – famous as a debtor's prison (London)

Yesterday (17th September 2015) Barry Gamble (ex-director of 'wine investment' company The London Vines Ltd failed in his attempt to get the default judgment for £741,647.45 handed down by the Birmingham High Court in late 2014. The judgment related to action brought on behalf of the liquidator of The London Vines Ltd against Gamble and the company's other director and the shareholders for trousering money from the company without justification. Enriching themselves at the expense of the unfortunate investors. 

I assume that Barry Gamble's attempt to have the default judgment overturned was in response to the liquidator move to make him personally bankrupt in order to recoup the £741,647.45 sum from default judgment. Clearly Gamble failed to convince the Birmingham Court and the bankruptcy order was passed.

Hopefully this will be good news for the creditors as now that Barry Gamble has been made bankrupt he is obliged to answer questions posed by the Insolvency Service. Hopefully the Insolvency Service will be able to ascertain what happened to the money when the Gambles sold 6 Rowan Close, Banstead on 16th September 2014 for £631,000.    

investdrinks understands that the Gambles are currently living in a large 5 bedroomed house in Highview Close, Tadworth, Surrey.