A local developer of ‘luxury’ homes who is already in trouble with the courts, HMRC, the banks and a plethora of creditors has now been declared bankrupt.
Paul Stephens who runs the Truro-based developers Stephens & Stephens Group Ltd with his wife Helen, which recently went into liquidation, has been declared insolvent personally following a hearing at the county court in Truro last week.
It comes as he is due back in court for sentencing on a raft of criminal charges and has seen multiple companies go bust.
It is Paragon Business Finance plc – part of the same banking group which provided Mr Stephens and his business with a £16.6 million funding package in 2021 to build the One Pentire development at Fistral in Newquay – which filed the…