News Article

Business Recovery & Insolvency

Begbies Traynor Takes Possession of St Stephen the Great Charitable Trust Bookshops

By CreditMan Wednesday, December 2, 2009

Peter Gotham of Begbies Traynor, Interim Manager, announces that he has taken possession of most of St Stephens shops and is now in a position to invite claims on the Charitys assets.

St Stephen the Great Charitable Trust is a charity with Eastern Orthodox Christian objectives which ran a number of bookshops that have been the subject of much press coverage, with concerns expressed over its operations.

In April 2009, the Charity Commission appointed Peter Gotham of Begbies Traynor as Interim Manager to take over its running - other than with respect to its religious mission in the churches it controls. This objective was made more complicated by virtue of the fact that since 1 July 2007 the shops previously operated by the charity were managed instead by other companies appointed by the Trustees. The Interim Manager has now completed his initial work, has retaken possession of 10 shops, and is moving towards meeting valid claims on the charity's assets.

Peter Gotham, Interim Manager of St Stephen the Great Charitable Trust commented:

We are pleased to have completed the possession of 10 of the Charitys shops and we have now instructed agents to put various of the Trust's properties on sale. We would therefore invite creditors with claims incurred before 1 July 2007 to come forward in order to ensure that no valid claims go unmet."