Disgraced Baroness Michelle Mone is retaining approximately £15,000 per week in rent from a mansion subject to a freezing order, recent reports reveal.
The former Conservative peer and her spouse had £75 million in assets frozen by a court order two years ago as authorities investigated a PPE supply deal. However, the order has been modified to allow them to keep rental income from a £25 million property while the investigation continues.
Situated in Belgravia, central London, the mansion is owned by an Isle of Man-based company linked to 54-year-old Mone’s husband, Doug Barrowman, 60. This firm acquired the Grade-II listed property for £9.25 million in December 2020.
Permission was granted for renovations on the Belgravia property, including constructing a cinema room and spa in the basement. Initially listed for sale at £25 million, the property is part of the couple’s business empire.
The adjustment to the freezing order, detailed by The Times, was sanctioned by Judge Tony Baumgartner at Southwark Crown Court. The judge clarified that any rental income from the property is not restricted and can be used without limitations.
Notably, PPE Medpro, a consortium managed by Barrowman, secured a government contract worth £122 million for supplying PPE during the pandemic. However, a High Court ruling in October demanded the company to repay the funds due to contract breaches.
Both Baroness Mone and Barrowman have refuted any misconduct allegations and have not faced legal charges.
PPE Medpro, which reportedly owes £148 million to the Department of Health, recently entered liquidation at the Insolvency and Companies Court. Additionally, the company is said to owe HMRC £39 million. Following the High Court judgment, Mone criticized the outcome as biased in favor of the government.
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