Richard Balfour-Lynn, the property magnate and founder of Balfour Winery, has been declared bankrupt, according to The Times, following his failure to pay millions in compensation to shareholders impacted by the collapse of MWB Group, the former parent company of luxury retailer Liberty.
At the heart of the case is MWB Group, the holding company behind brands such as Hotel du Vin, Malmaison and Liberty. Balfour-Lynn served as chief executive until the business fell into administration in 2012.
Alongside joint finance director Jagtar Singh and several other parties, Balfour-Lynn was found to have obscured the extent of their shareholdings through “a series of sham transactions involving…
