A Sri Lankan-born energy tycoon and his wife have reportedly fled the UK after their company, Prax Group, collapsed under debts exceeding £1.5 billion. Winston Sanjeev Kumar Soosaipillai, also known as Sanjeev Kumar, and his wife Arani are believed to have left the country, leaving behind hundreds of employees facing job losses and millions owed to creditors.
The London-based oil company, which owned the Lindsey oil refinery in North Killingholme, Lincolnshire, fell into administration in June. The refinery’s shutdown has placed around 420 jobs at risk, with administrators Teneo revealing that debts include more than £4 million owed to employees, £70 million to HMRC, £9.2 million to Shell, and potentially £250 million in unpaid taxes. Other creditors include Uber and Rentokil.
The couple, who owned Prax jointly, came under heavy criticism after it was revealed they paid themselves a £3.65 million dividend last year, despite the firm posting losses of nearly £30 million. Government ministers have accused them of mismanagement, with Energy Minister Michael Shanks urging Mr. Sanjeev Kumar to “do the right thing and support the workers through this difficult period.”
Mr. Sanjeev Kumar was listed as the owner of a £5 million Weybridge mansion in Surrey, which was advertised for rent shortly before the company’s financial troubles became public. The property, described online as a luxury five-bedroom home with a swimming pool, sauna, and steam room, has since been put up for sale.
The Department for Energy Security and Net Zero confirmed that the Insolvency Service has launched an investigation into the couple’s conduct and the company’s collapse. While the Official Receiver considers bids for the refinery, the government has pledged to fund a “Training Guarantee” to help affected workers find employment in the clean energy sector.
It is suspected that the couple may have fled to Sri Lanka.
UK Court Freezes £150m Assets of Sri Lankan Couple (Owner of Prax Refinery)
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