Howes Percival has been appointed to help investigate Turkish Cypriot billionaire Asil Nadir’s finances.
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Nadir, the former head of conglomerate Polly Peck, which collapsed in 1990 amid allegations of false accounting and theft, is an undischarged bankrupt whose estate faces creditors’ claims of £375m.
Grant Thornton’s head of fraud and insolvency Kevin Hellard, who is the trustee in bankruptcy of the estate of Nadir, has instructed Howes Percival partner Nick Oliver to help investigate Nadir’s finances.
Oliver is head of insolvency and corporate recovery at Howes Percival and is a specialist in forensic insolvency investigations and fraud related insolvency issues.
“We’ll be working closely with Grant Thornton to ensure that Mr Nadir’s personal affairs, particularly since he left the UK, are fully investigated,” said Oliver. “Mr Nadir’s estate is subject to claims from creditors, including his former company Polly Peck and its investors.
“We’ve been instructed by Kevin Hellard, in his role as trustee, to assist his investigations into Mr Nadir’s financial affairs to see if he’s acquired any assets that can be recovered for his creditors.”