Cox & Kings Limited – liquidation

Ajay Ajit Peter Kerkar, the former Group CEO and Director of collapsed travel firm Cox & Kings Limited, was adjudged bankrupt earlier this year, on a petition by Investment Opportunities IV Pte. Limited, owed approximately £53 million on loans that it had provided to Cox & Kings which were guaranteed by Mr. Kerkar. Mr. Kerkar had previously attempted to set aside a statutory demand served on him by Investment Opportunities, arguing that, amongst other things, Investment Opportunities had engineered a default under the loans and had perpetrated a fraud on Cox & Kings, resulting in it being stripped of funds and entering a corporate insolvency resolution process in India. The Court ultimately ruled that Mr. Kerkar’s allegations were based on surmise and unsubstantiated, and had no reasonable chance of any success. Joanne Wright and Edwin Kirker of Kroll Advisory were appointed as joint Trustees. Alex Thompson of Gateley is instructed.