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Bankrupt tycoon’s assets to go on sale

Walton House, Graham Ferguson Laceys former home in Ballasalla, was sold recently

Walton House, Graham Ferguson Laceys former home in Ballasalla, was sold recently

  • by John Turner
 

Items from the home of bankrupt business tycoon Graham Ferguson Lacey are to be sold later this month as the contents of his house go under the auctioneer’s hammer.

The sale, through Murray’s auctioneers, takes place at Gladstone Way salerooms in Ramsey on March 28 and will cover the entire contents of Walton House in Ballasalla, his former home.

The sale is arranged on the instructions of the Rushen coroner Mark Wrigley and includes antiques, furniture, art work and collectables.

‘It includes all contents: furniture, ornaments, paintings and general bric-a-brac. We are not really talking Chippendale, just normal family furniture. It was a large and well-furnished house and there are some nice paintings among the lots, though the artists are not particularly well-known,’ Mr Wrigley said.

He added Mr Ferguson Lacey had down-sized from Bishopscourt to the property in Ballasalla but anyone expecting to see the contents of a stately home would be disappointed.

Mr Wrigley said the house itself had already been sold by the liquidator and this had precipitated the sale of contents.

Mr Ferguson Lacey, former executive chairman of the Sefton Group was declared bankrupt in the Manx courts, and had already successfully applied for bankruptcy in the UK, in 2013. The ruling in the Manx courts followed a request from the Manx company Stilwell Ltd to whom he owed money.

At the court hearing last autumn Deemster David Doyle accused Mr Ferguson-Lacey of being ‘more focused on his own personal self-interest rather than on the best interests of his creditors.’

The court heard he owed £1,572,000 to HSBC in Douglas, £59,372 to the Manx Treasury and £4,729,107 to a number of unsecured creditors. He stepped down from the Sefton Group in 2010.

 

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