Company directed by socialite James Stunt wound up over £173,000 debt

A company directed by socialite James Stunt has been wound up over an unpaid debt of more than £170,000 in business rates related to a property inside a former MI5 headquarters.

Stunt Acquisitions Limited was issued with a winding-up petition over an unpaid debt in June and was wound up by a judge at a specialist insolvency court on Wednesday.

Records on Companies House show that Mr Stunt, the former son-in-law of Formula 1 tycoon Bernie Ecclestone, was a director of the company from 2014 to 2019.

The 43-year-old was appointed again in April this year and is the company’s only listed director.

Westminster City Council issued the winding-up petition against the firm earlier this year.

Barristers for the authority told a hearing in London on Wednesday that it had rejected an offer of Rolex watches as security for the outstanding debt.

William Kitchen, for the company, said: “We are seeking to settle this debt and pay it in full.”

He continued that there were “two potential sources” to pay the debt, claiming the company had “substantial assets” but needed time to “identify and realise those assets”.

Mr Kitchen also said that Mr Stunt’s bankruptcy estate was “likely to give rise to substantial surplus”.

But Insolvency and Companies Court Judge Catherine Burton said “inadequate offers of settlement have been received” and wound up the company, which she said “is clearly unable to pay its debts”.

No details of the nature of the debt or how much was owed were disclosed in court, but following the hearing, the council confirmed that the petition related to unpaid business rates of £173,000.

The unpaid rates date back to 2019 and relate to a property on the seventh floor of Leconfield House, Curzon Street, Mayfair, which was the headquarters of MI5 during the Cold War.

Following the ruling, Councillor Adam Hug, leader of Westminster City Council, said: “Today’s court decision sends the message that no matter how high profile your company, there is a duty to pay business rates.

“Trying to avoid paying the money we collect, which goes back into public services in this case, has proven to be rather an expensive stunt for those involved.”

Mr Stunt married Bernie Ecclestone’s daughter Petra in 2011 at a multimillion-pound ceremony at Odescalchi Castle, Rome, when an array of pop stars entertained them and 350 guests.

The couple split in 2017, with Mr Stunt declared bankrupt in 2019.

In March last year, a judge ruled that Mr Stunt was the owner of the centuries-old portrait, The Cheeke Sisters by Sir Anthony Van Dyck, following a High Court dispute.

Mr Stunt and his father, Geoffrey, told a trial that the latter bought the artwork in 2013 for £600,000, while the trustees of his bankruptcy claimed that Mr Stunt was the buyer.

ICC Judge Clive Jones ruled that it could be classed as belonging to Mr Stunt for the purposes of his bankruptcy.

Then, in March this year, Mr Stunt was cleared of being involved in a £200 million money laundering plot following a trial at Leeds Crown Court.