Going for broke: Bernard Knope & Partners owes £1m to creditors.

The debts of collapsed broker Bernard Knope & Partners and Town and
County Insurance Services have been estimated at more than £1m.

According to a report by receivers Grant Thornton that was presented to
the creditors, Bernard Knope and its Town and County branch owed Lloyd's
TSB £429,000 before interest, secured creditors (such as PAYE and NIC)
£80,500, and unsecured creditors (insurers such as Norwich Union)

Grant Thornton estimates Lloyd's TSB will recover funds of only £97,000,

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