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Levene clients contact insolvency experts

Published on 19 Oct 2009 under category: legal

Insolvency solicitors have been contacted regarding a missing City trader.

Around 30 clients of Nick Levene have taken this action, with several investors seeking to recoup multi-million pound losses linked to the money manager.

Mr Levene, who is vice-chairman of Leyton Orient Football Club, is thought to be in hiding due to his debts.

Insolvency experts have now been called in, with Brian Souter and Ann Gloag, who are behind the Stagecoach transport franchise, among those seeking money which they claim Mr Levene owes them.

The Daily Star reported that the 45-year-old attempted to cover his debts by gambling.

However, the newspaper stated that in doing so he lost £720,000 on a cricket match and £250,000 by backing Chelsea to win the Premier League.

Earlier this month, former Leeds United Football Club director Simon Morris filed for bankruptcy at Leeds Crown Court amid reports of multi-million pound debts.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.