Ex-Property Chief Pushed Into Bankruptcy After Fraud Case

Law360, London (October 15, 2020, 1:09 PM BST) -- A judge pushed a real estate tycoon into bankruptcy on Thursday, months after he was found to have siphoned £13 million ($16.8 million) from his family business, saying that trustees will have to assess whether accounting "misfeasance" has sabotaged his ability to repay his debts.

Judge Anthony Zacaroli approved a bankruptcy order at the High Court against Edward Wojakovski, the former chief executive of Tonstate Group Ltd. He said there is no "credible or convincing evidence" that Wojakovski would be able to repay the property business if he was given more time to sort out his finances.

Trustees will have to...

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