Midland Grand Hotel

A U.K. High Court judge today ordered bankrupt British businessman Lincoln Julian Fraser to turn over his bank records to the administrator of his failed Imperial Consolidated Group, which went bust in June, 2002 with liabilities of approximately $345 million.He

Press Release by petitioning creditor Deighton International regarding bankruptcy orders against Lincoln Fraser and Jared Brook over debts associated with the Midland Grand Hotel in Morecambe, England.

A subsidiary of Imperial Consolidated PLC has been fined GBP12,500 (US$17,845) after pleading guilty to contempt of court in England. The fine and costs of GBP8,516.88 (US$12,157) were handed down to Mirfield Financial at the High Court of Justice, Queen's Bench Division, Leeds District Registry, Mercantile Court, on July 18, 2001.

Lincoln Fraser and Jared Brook, co-founders of the Imperial Consolidated Group, have each been disqualified from acting as a director of a company for four years in the United Kingdom. The disqualification was ordered at Blackpool County Court, in England, on Thursday, July 12, 2001, following an application by the Official Receiver, which is an executive agency of the Department of Trade and Industry, a government body.

The Chairman of the Imperial Consolidated Group was threatened with criminal action in England in 1996/97 after being accused of breaking the terms of his bankruptcy, we can disclose. Even then, it took Lincoln Julian Fraser many more months to settle a debt of GBP22,000 (approximately US$32,111) to Lincolnshire-based creditor Heckford Advertising.