The City Diary: First London latest
Sunday 17 October 2010
A welcome return to this column for First London, the investment bank that's in administration.
I now learn that First London Group Plc (an Isle of Man-registered business which is not in administration but is the holding company of the First London that is) is experiencing its own difficulties. In a letter dated 8 October and filed at the Isle of Man's Companies Registry, FLG Plc's registered agent (a required post for companies registered on the island) threatens to ditch its client. "I write to formally advise that we will have no alternative but to resign our services for the company," explains John Bateson of Cains Fiduciaries, "if the outstanding matters are not resolved as discussed in the near future." No further details are given, and neither party will explain what the problem is, although I do learn the issue remains unresolved. Who'd have thought it?
Gerald Krasner, a partner at insolvency and recovery specialist Begbies Traynor and the chairman of Leeds United football club when it was sold to Ken Bates, has been shamelessly hawking himself as a commentator on the battle for control of Liverpool FC. On Friday, he fired off this missive: "[Former owners, Tom] Hicks and [George] Gillett are positioning themselves for an ongoing legal scrap and I certainly don't think we have heard the last of them. The main question now is under what legal jurisdiction will any action be bought [sic]?" What is he implying?
Filly loses double pony
For some reason, which I'm sure will emerge as some ingenious publicity stunt, £50 notes are being sent anonymously to newspaper diary columnists. One so-called rival lamely donated his to charity – while others seem to have remained quiet, possibly because they've spent it. Mine, however, was invested at 4:1 on Romantic Queen, a four-year-old filly which ran in the 5.35 at Wolverhampton on Friday. The nag is trained by my old colleague, George Baker, whose first career as a Barings trader was tragically cut short by a certain Nick Leeson. He, of course, showed a similar disregard for cash as the diarists' benefactor – and ditto Romantic Queen. She limped home in 10th.
Shy Macpherson hides
What is Elle "The Body" Macpherson up to? The former model now flogs her own brand of undies and is desperately trying to convince the world that this makes her a top businesswoman. She's been putting herself about too – giving an interview to the Evening Standard's magazine on Friday (headline: "a body for business"), which followed another given to the Financial Times's magazine last weekend. Such sustained PR activity usually means some deal's afoot but, strangely, the glamourpuss's spokespeople don't call back to explain. Why so coy, suddenly?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
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