Meet the administrators who recover investors’ funds

Business recovery and rescue specialist Duncan Swift is among the many professionals tasked with unravelling the scandal surrounding a series of abandoned development sites in Northern Powerhouse cities, which have left investors sorely out of pocket.

The Moore Stephens partner is administrator to the company behind one such project: the failed buyer-funded Angelgate scheme in Manchester.

Developer Pinnacle (Angelgate) Ltd attracted £30m of investment from mainly overseas private investors and should have delivered 344 new homes in a mixed-use development completing last year. Yet no work was undertaken beyond groundworks.