PEMBROKE: Blowing bubbles along the M40

Nothing in business became Robert Montagu, the flamboyant head of Tiphook, so much as the leaving of it. Everything about him was big - big house, big car, big yacht, big lifestyle, big debts. Huge debts, in fact. So huge that he nearly became th e firstman in Britain to be made bankrupt twice.

Yesterday's papers excitedly reported that Barclays Bank had filed a petition of bankruptcy to be heard in Oxford County Court that day. It was indeed heard but came to nothing because Mr Montagu was, of course, already bankrupt after Royal Bank of Scotland got its petition in first in December. And you can't be made bankrupt twice, even with debts of £40m. Which is how it remains with Mr Montagu, although his lifestyle is a little smaller now that his 139ft yacht has been sold.