Royal’s investment company owed £8million when he took his own life

The report, released this week and reported by the Daily Mail, confirms the company is transitioning from administration into liquidation proceedings.

Creditors will recover just 71 per cent of the money they are owed, with the final amount available for repayment standing at £19.8million against total debts of £27.9million.

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The shortfall stems from two substantial loans extended by the company that remain unpaid.

Mr Kingston, who was married to Lady Gabriella Windsor, took his own life in February 2024 at the age of 45.

The high-profile financier had founded Devonport Capital Limited. And his family later linked his death to adverse effects from medication prescribed for work-related stress.

Mr Kingston had invested £1.6m of his personal funds into Devonport Capital in an attempt to rescue the struggling business, with his family also providing support.

His father Martin Kingston, a well-regarded barrister, is among those facing losses. He is owed £162,000 but will receive only £115,000, leaving him £47,000 out of pocket.

The largest creditor is Dubai-based Christopher Chandler, who is owed £12.8million and stands to lose approximately £3.7million.

HMRC is also among those affected, with the tax authority owed £788,226 but expected to receive around £560,000.

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The firm’s financial difficulties were compounded by two major loans worth a combined £48million administrators have struggled to recover, significantly impacting Devonport’s overall performance.

Devonport Capital was owed £48million through two significant loans that administrators have found challenging to recoup.

An Indian renewables company owed £34.57million, and administrators had anticipated that milestone payments from this business would directly benefit creditors. However, these expected payments have not materialised.

A gold mining operation in Ghana remains indebted to the tune of £2.1million and continues to miss scheduled repayments, although it is making partial payments of between £37,000 and £74,000 weekly.

A previous administrator’s report noted that while the company had initially managed to meet its obligations to lenders through other loan repayments, the situation deteriorated over time.

“The negative effect of the two underperforming loans on the company’s financial position has become more pronounced,” the report stated.

Mr Kingston died from self-inflicted shotgun wounds at his parents’ home in the Cotswolds in February 2024, with a firearm discovered beside him.

An inquest heard he had ceased taking his medication in the days before his death. He had been prescribed sertraline for anxiety and depression, along with the sleeping tablet zopiclone, by a GP at the Royal Mews Surgery at Buckingham Palace after reporting sleep difficulties.

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Senior coroner for Gloucestershire Katy Skerrett concluded Kingston took his own life whilst “suffering adverse effects of medication he had recently been prescribed”.

Lady Gabriella issued a warning about mental health medications at the inquest, stating: “I believe anyone taking pills such as these need to be made more aware of the side effects to prevent any future deaths. If this could happen to Tom, this could happen to anyone.”

Anyone who is in emotional distress, struggling to cope or at risk of suicide can call the Samaritans anonymously for free from a UK phone on 116 123 or go to samaritans.org.