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Sophie Wessex, Her £1.7m Business Debt - And Why She Won’t Pay

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http://www.dailymail.co.uk/femail/article-...-won-t-pay.html

£280 to couriers, £958 for office supplies, £640 for printing, not to mention £590,153 to the bank... these are some of the debts the wealthy Countess of Wessex won’t have to pay now the business she founded is being wound up. Would things have been so simple if she didn’t have a title - and a Royal one at that?

There cannot be many occasions when a public relations company is pleased to generate very little publicity. But, for the directors of RJ-H Public Relations, this was one of them. Tucked away in the financial pages was the news that no amount of fast-pedalling could convert into something positive.

After three years in administration, with only a fraction of creditors paid, the game was up.

Last week, RJ-H PR, the company set up by the Countess of Wessex and former business partner Murray Harkin, was wound up, leaving more than £1.7million of debts.

It is eight years since the company was in the spotlight for all the wrong reasons.

Then, Sophie was duped by the notorious ‘Fake Sheik’, who secretly recorded her making indiscreet comments about public figures (she said William Hague’s face was ‘all wrong’ and Cherie Blair was ‘even worse’ than her husband). Worst of all, she traded on her Royal connections.

A few months later, Sophie announced her intention to ‘cease all connections’ with RJ-H PR. She seemed content to retire to a life of Royal duty in her £30million Surrey mansion, Bagshot Park.

But making such a volte face was a shade optimistic. After all, this is the woman who once declared her ambition to be the first senior Royal to be commercially successful.

Now, The Mail on Sunday has discovered that, far from severing her ties with RJ-H PR, Prince Edward’s wife continued to invest in the company both financially and emotionally. Regarding it as ‘her baby’, she was not prepared to surrender the company. And today it is others who are left counting the cost.

Among the catalogue of bad debts seen by this newspaper is £30,000 of unpaid tax.

But perhaps the most glaring is nearly £600,000 owed to Barclays bank.

In 2004, RJ-H PR took out a £1.5million loan from Barclays. It is understood that, along with fellow directors Jack Cassidy and Christopher Clarke, Sophie personally guaranteed £175,000 of this loan.

Yet last week £590,153.11 of the Barclays loan was one of 32 debts that were simply written off.

At a time when 120 small businesses go under every day and many directors, unable to pay back loans, face bankruptcy, this leniency has drawn allegations of ‘one rule for the rich, another for everybody else’.

So if your going to go bankrupt make sure you are rich and royal because then it doesn't matter.

One rule for the proles and another for the rich. Now that's progress.

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The value producers in private business provide the wealth of this nation.

as the article points out the royals are not good in business so they choose to be a parasite and live at the expense of the value producing business owner who is good in business.

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If she only guaranteed the debt to barclays to a small proportion, thats all shes liable for.

Same as ANY businessman with a LTD company.

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If she only guaranteed the debt to barclays to a small proportion, thats all shes liable for.

Same as ANY businessman with a LTD company.

It's hard to tell from the details given but it would seem she wasn't tapped for anything.

Kind of unusual - by all accounts it's a frequent occurrence for owners of ltd companies to end up bankrupt or in poverty because the banks chase them to pay back personally guaranteed loans once the company goes to the wall.

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Lucky she's not the Queen, because you couldn't sue her in her own courts. The monarch is not subject to any laws, rights or obligations. You can't summon her to give evidence in court (as per Burell trial).

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Wouldn't it be nice to see a documentary detailing this incompetent woman's 'business' career, and giving the general public chapter and verse on this affair.

Owes money to small creditors who won't get paid, but lives here:

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If she only guaranteed the debt to barclays to a small proportion, thats all shes liable for.

Same as ANY businessman with a LTD company.

Yes, non-story as I can see. She married into the Royal family isn't reason for her not to use the limited liability rights open to any other UK adult.

If she had a PG on the Barclays' loan and they don't want to exercise it is their own commercial prerogative.

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