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Article: Debts of pounds 30m push Montague out of Tiphook
- Article from:
- The Independent (London, England)
- Article date:
- December 22, 1994
- Author:
CopyrightCopyright 1994 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Robert Montague resigned yesterday as chief executive of the
Tiphook container leasing group he founded 16 years ago, after
accepting that he will be made bankrupt today over personal debts of
pounds 30m.
Mr Montague, who built Tiphook into one of the stock market stars
of the 1980s, admitted defeat yesterday after a three-month fight
against a bankruptcy petition brought by Royal Bank of Scotland over
debts of pounds 2.3m.
Barclays presented its own bankruptcy petition last week on its
pounds 8m mortgage over Mr Montague's 1,300-acre Pusey estate in
Oxfordshire. Barclays has appointed a receiver under the Law of
Property Act to the Pusey estate, which includes a Georgian
mansionand 15 ...