Try GOLD - Free
Owner of collapsed refinery has £150m of assets frozen
The Guardian
|September 05, 2025
A court has frozen £150m of assets belonging to the owner of the collapsed Prax Lindsey oil refinery, an oil tycoon whose whereabouts have been a mystery since the plant's sudden financial implosion this year.
Administrators sifting through the wreckage of five companies in the Prax empire are suing Winston Soosaipillai, better known by his middle names, Sanjeev Kumar, for breach of his duties as a director after the energy group's failure.
Freshly published court filings revealed that in July a judge at the high court granted the companies' request for a "freezing injunction" against Soosaipillai.
The order prevents him from removing from England and Wales, or selling, assets worth up to £150m. If he fails to comply, he can be imprisoned, fined or his assets can be seized.
A separate claim form, detailing the companies' case against Soosaipillai, revealed that they are seeking damages "in connection with a securitisation facility to which each of the claimants is party".
This story is from the September 05, 2025 edition of The Guardian.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Guardian
The Guardian
Macclesfield’s McLeod dies in car accident
The Macclesfield forward Ethan McLeod has died in a car accident.
1 mins
December 18, 2025
The Guardian
Meta sued over suicide of sextortion victim, 16
The parents of a 16-year-old who took his own life after falling victim to a sextortion gang on Instagram are suing Meta for the alleged wrongful death, in the first UK case of its kind.
3 mins
December 18, 2025
The Guardian
Gambling trap Illicit sites target addicts who are attempting to quit
The Long family are facing up to their second Christmas without their eldest son.
5 mins
December 18, 2025
The Guardian
Arbitration service offers to step in to break deadlock in doctors' strike
The conciliation service Acas has offered to help to try to break the deadlock in the resident doctors' strike in England.
2 mins
December 18, 2025
The Guardian
Par for the course? Why Ryder Cup hero McIlroy may miss Spoty cut once again
It has been a 2025 for the ages for Rory McIlroy. He cemented his legacy by completing a career grand slam with victory at the Masters.
3 mins
December 18, 2025
The Guardian
Leftwinger expelled by Labour to lead UK's largest trade union
The UK's largest trade union, Unison, is on a potential collision course with Labour after it ousted a leader with close links to Keir Starmer in favour of a leftwinger who was expelled from the party three years ago.
1 mins
December 18, 2025
The Guardian
Russia targeting European finance bosses and politicians over assets
Belgian politicians and senior finance executives have been subject to a campaign of intimidation orchestrated by Kremlin intelligence aimed at persuading the country to block the use of €185bn of frozen Russian assets for Ukraine, according to European intelligence agencies. Security officials indicated to the Guardian that there had been deliberate targeting of key figures at Brussels-based Euroclear, the securities depository holding the majority of Russia's frozen assets, and leaders of the country.
3 mins
December 18, 2025
The Guardian
The ‘winter’ crisis that never stops A day in the life of a Midlands hospital
Thirteen ambulances are lined up at the rear of the emergency department of the Royal Stoke university hospital as Dr AnnMarie Morris, the hospital trust's deputy medical director, walks towards the entrance, squinting in the low afternoon sun.
6 mins
December 18, 2025
The Guardian
'It should be better than that' England weigh up complaint after Snicko error spares Carey
England are considering a formal complaint over the Snicko technology being used in this Ashes series after Alex Carey received a lifeline en route to a telling century on the opening day of the third Test.
2 mins
December 18, 2025
The Guardian
Trump trade deals 'built on sand', say senior MPs
Ministers and senior MPs said yesterday the UK's agreements with Donald Trump were \"built on sand\" after the Guardian established that the deal to avoid drug tariffs had no underlying text beyond limited headline terms.
4 mins
December 18, 2025
Listen
Translate
Change font size