{"id":323243,"date":"2025-12-18T18:37:09","date_gmt":"2025-12-18T18:37:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/323243\/"},"modified":"2025-12-18T18:37:09","modified_gmt":"2025-12-18T18:37:09","slug":"michelle-mone-linked-ppe-medpro-wound-up-after-being-ordered-to-repay-148m","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/323243\/","title":{"rendered":"Michelle Mone-linked PPE Medpro wound up after being ordered to repay \u00a3148m"},"content":{"rendered":"

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PPE Medpro, the company linked to Baroness Michelle Mone<\/a>, has been wound up at a specialist companies court.<\/p>\n

The decision, made by a judge at a hearing on Thursday, could mean that the government is unlikely to see most of the \u00a3148m owed to it by the company after it was found to have breached a contract to supply 25 million surgical gowns during the coronavirus pandemic.<\/p>\n

PPE Medpro, a consortium led by Lady Mone\u2019s husband, businessman Doug Barrowman, had been ordered to pay the sum after losing a High Court battle against the Department of Health and Social Care (DHSC) in October.<\/p>\n

But it filed for administration<\/a> on 30 September, the day before the ruling, with the money still unpaid.<\/p>\n

At a hearing at the Insolvency and Companies Court on Thursday, barristers for the three joint administrators asked for PPE Medpro to be kept in administration to pay off some creditors.<\/p>\n

Barristers for the DHSC, an unsecured creditor, asked a judge to wind up the company, which they said was \u201chopelessly insolvent\u201d.<\/p>\n

In a ruling, Insolvency and Companies Court Judge Sebastian Prentis placed the company into liquidation.<\/p>\n

He said: \u201cI remain of the firm view that the correct course is now to discharge the administrators and to compulsorily wind up the company.\u201d<\/p>\n

Records filed by PPE Medpro\u2019s administrators last month showed that, as well as the money owed to the DHSC, HMRC was also claiming \u00a339m in tax from the company.<\/p>\n

But the filings revealed it only had around \u00a3600,000 available to pay unsecured creditors.<\/p>\n

Simon Passfield KC, for PPE Medpro\u2019s joint administrators, said in written submissions that the company had one secured creditor, Angelo (PTC) Limited, which, according to Companies House, is registered in the Isle of Man.<\/p>\n

He continued that the DHSC was the firm\u2019s largest unsecured creditor and had \u201cexpressed a clear preference for the company to move immediately into compulsory liquidation\u201d.<\/p>\n

In court, the barrister said that PPE Medpro had \u201csufficient property\u201d to pay off a debt of around \u00a31m to Angelo, and that the administrators believed there would \u201calso be a return to the unsecured creditors\u201d, including the DHSC.<\/p>\n

Mr Passfield continued that there were \u201cpotential\u201d legal claims by the company against \u201cthird parties\u201d, which, if successful, \u201ccould result in substantial recoveries\u201d of funds, but no further details were given in court.<\/p>\n

He said: \u201cThe administrators are as best placed as any liquidator to achieve the best outcome for creditors as a whole.\u201d<\/p>\n

David Mohyuddin KC, for the DHSC, said in written submissions that there was no \u201crealistic alternative\u201d to winding up the company.<\/p>\n

He said: \u201cThe only order that the court needs to, and should, make is that Medpro be wound up.\u201d<\/p>\n

He continued: \u201cThe court\u2019s discretionary power to make a winding-up order against Medpro is clearly engaged: it is obviously and very significantly insolvent.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Your support helps us to tell the story From reproductive rights to climate change to Big Tech, The…\n","protected":false},"author":2,"featured_media":323244,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[49,50,51,47,52,48],"class_list":["post-323243","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-headlines","tag-news","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/323243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=323243"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/323243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/323244"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=323243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=323243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=323243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}