Investigate Stewart Day: Ex Bury FC Owner & Failed Property Development Empire Collapse

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Stewart Day, former Bury Football Club Owner Allegedly sold the club for £1 in December 2018 having run it into dangerous levels of overspending and debt of an unsustainable scale for the League One Club.

Bury FC faces a winding up petition on the 19th June 2019 in the High Court with its future hanging in the balance, the current owner Steve Dale has been seeking a new buyer for the club since April 2019 but is yet to secure a deal. He stated the club’s financial state was “significantly worse” than he believed before the takeover, and as of yet has not been able to take the club to a safe point of security.

Ivan Lewis MP of Bury South wants an investigation of debts incurred under former owner Stewart Day, which he said raised "fundamental issues about fit and proper people" to own clubs.

Stewart Day’s Property Empire has also recently collapsed into administration; with numerous Mederco Companies with the purpose of developing student accommodation across the country going under, leaving millions of pounds owned to lenders, creditors and 100’s of individual investors who have paid deposits on the exchange of units.

Key sales and marketing agents involved include Aspen Woolf, Gower and Mae and Prinvest amongst others who are not appearing to take any responsibility for their involvement. As well as this, why didn't law firms such as Oliver and Co, make their clients aware of the Lendy loans, at the time Lendy was unregulated, no normal person would have invested in this if they knew about Lendy loans, this is a massive oversight in the conveyancing service. Lendy has since gone into administration and was being investigated by the FCA. Clients were told their funds would be used for materials build, so why did stewart need to use a bank for this, and why didnt the law firms make their clients aware of this, and Stewarts other ventures which a 5 minute google search could show.

Stewart Day has not been forthcoming or co-operative in providing information and company accounts to the administrators. Members of the public involved have reported him to the Serious Fraud Office; this has since gained support from Ivan Lewis MP “There is certainly a case for certain transactions to be reviewed by the SFO.”

Mederco Limited’s administrator report states "The sixth transaction is in fact multiple transactions between the company and other property development companies of which Stewart Day is also the managing director. The exact purpose of each transaction, the volumes and money flows involved is presently unclear and requires further investigation."

It has also come to light that Mederco companies loaned 30 Million pounds against the prospective future value of the property development buildings from the regulated peer-to-peer lender Lendy who also collapsed into administration on the 24th of May 2019 following action taken by the Financial Conduct Authority leaving 22,000 further investors with an anxious wait to see if they will ever see their cash again.

Lets fight for justice and the best possible outcome for Bury Football Club, its longstanding fans and the thousands of creditors and investors this is affecting.