Disgraced Baroness Michelle Mone is reported to be retaining around £15,000 per week in rent from a mansion subject to a freezing order. The former Conservative peer and her spouse had £75 million worth of assets frozen by a court order a couple of years ago while authorities investigated a PPE supply deal. However, an adjustment to the order now permits them to keep the rental income from a £25 million property in Belgravia, London, owned by a company linked to Mone’s husband, Doug Barrowman.
The Belgravia mansion, purchased for £9.25 million by the couple’s business entity, is set for renovation, including the addition of a cinema room and spa in the basement. This property, initially listed for sale at £25 million, is part of the business portfolio of Doug Barrowman, aged 60, who heads the Isle of Man-based firm.
The modification to the freezing order was sanctioned by Judge Tony Baumgartner, the Recorder of Westminster, following a confidential hearing at Southwark Crown Court. The judge clarified that the rental income from the property is not subject to restraint, allowing unrestricted use of the funds. PPE Medpro, managed by Mr. Barrowman, secured a substantial government contract worth £122 million for PPE supply during the pandemic. Nonetheless, a High Court ruling in October mandated the company to repay the sum due to contract breaches.
Both Baroness Mone and Mr. Barrowman have refuted any allegations of misconduct and have not faced legal charges. PPE Medpro, owing a total of £148 million to the Department of Health, underwent liquidation proceedings at the Insolvency and Companies Court recently. Additionally, the firm is reported to owe HMRC £39 million. Responding to the High Court judgment, Baroness Mone criticized it as a favorable outcome for the government, which she deemed inevitable in a case of significant magnitude.