A claim has been filed with the Hight Court by administrators against failed televsion broadcaster, Arena Television. The former directors, Robert Hopkinson, Richard Yeowart and another former director, are being sued by the administrators for breach of fiduciary duty amid various allegations of fraud.

Arena Television’s collapse was initiated when an auditor acting on behalf of a lender, attempted to verify serial numbers on company owned equipment used as security for loans; it was found that these serial numbers did not exist.

Arena Television is said to have borrowed £300m from lenders including HSBC, Close Brothers, Allied Irish Bank and Shawbrook and recoveries are likely to be small from the administration.

For more information on bankruptcy, liquidation, administration and all the other insolvency procedures, or should you or your company be facing financial difficulties and you need to chat, please telephone Charlotte Hutchinson on 01377 257788 and she will make you an appointment with one of our insolvency professionals at our Driffield, Hull, Grimsby, Scunthorpe or York offices.  Our initial meetings are free and without obligation.  Meetings can be held virtually or in any of our offices whilst observing the socially distancing guidelines.

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