Sunningdale House & Development House go under owing £55m to 321 creditors
Sunningdale House Developments Limited (SHDL) and Development House Limited (DHL) both previously owned and controled by David Richard Pownceby (pictured) have both gone into administration owing more than fifty five million, yes £55,000,000 between them.
The estimated financial position, or rather the sum owed to 105 creditors by SHDL according to the Statement of administrator’s proposal, lodged on Companies House on the 12 Oct 2023, is £50,575,548 and does not include future fees owed to the Administrator (CG&Co).
The Administrators (CG&Co) will market and sell Tram Road.
The estimated financial position, or rather the sum owed to 216 creditors by DHL according to the Statement of affairs, lodged on Companies House on the 9 Sept 2023, is £4,245,313 and does not include future fees owed to the Administrator (CG&Co).
The collapse of Sunningdale House Developments Ltd is an even more spectacular than when David Richard Pownceby dissolved Lilybrook Developments Ltd, Lilybrook Construction Ltd, DRP Estates Ltd and other related companies, owing £34,331,309, to 124 creditors, according to companies house, and the Insolvency practitioner who wound the companies up, in mid 2013.
So in 10 years, David Richard Pownceby’s companies have gone down the tubes owing more than £89m to 445 companies, including Guy Holloway who is owed £215,000, HMRC more than £900,000 and Sunningdale Investments Limited owned by Sir David Kirsch owed £44.5m.
Back in June 2022, we made it very clear that SDHL was only a going concern due to Sir David Kirch investment through his Jersey owned and based company, Sunningdale Investment Ltd, without his money SHDL would have gone down the tubes much sooner than it has.
The Shepway Vox Team
Not owned by Hedgefunds or Barons
He was so busy robbing trades he didn’t even notice his own staff talking him for a ride from directors taking bungs to the landscapers directly employed by Sunningdale and run by Terry Marsh,s brother doing private work ordering materials through the company and supplying labour being paid for by Sunningdale
Quids in all round
No doubt Pownceby will be sat in his comfortable accommodation counting all his pennies he has squirrelled away whilst thinking of the next bunch of unsuspecting hard working local businesses that he can shaft .
What a pathetic little man he is .
I’m advised that work seems to have stopped on the Pavilion site in Folkestone and that the equipment has been removed. I hope there isn’t another developer problem and that the affordable contributions have been paid to ensure the new council can build/ provide new affordable homes.