Gable being chased for £5.4m by administrators

Collapsed Danish insurer Gable is being chased for up to £5.4 from the administrators of a UK-based underwriter.

A companies house filing for Hogarth Underwriting lists former Gable chief executive William Dewsall as its sole director and reveals the firm fell into administration in May last year.

The administrators progress report, filed in January, reveals that a debt had been identified of up to £5.4m owed by Gable to Hogarth. But between May and November 2018 the adminstrators had no success in abstracting this debt, according to the report.

The debt was initially listed at £3.6m, but the filing states that since the issue of the proposals, a signed statement of affairs had been received from the director, listing the outstanding amount at £5.4m.

“No funds have been received to date,” the document states.

“Numerous requests”

The document goes on that when the administrators contacted the trustee of Gable’s bankruptcy, they told them that it was Hogarth that owed money to Gable.

The document states: “It has been indicated by the trustee that it is their belief that contrary to the Company’s position, the Company owes Gable a significant sum.”

Numerous requests have been made to Dewsall for documentation according to filing.

It goes on: “Whilst some limited information has been received, there remains critical information outstanding.

“The joint administrators have reminded the director of his duty to co-operate and the potential outcomes, should co-operation not be forthcoming throughout.”