Bunhill: Unpopular bankrupt

MARTYN DEANER, the founder of Midland & Scottish Resources, whose bankruptcy I wrote about last week, does not appear to be universally popular, I'm afraid.

Since the story appeared the telephone has been abuzz with stories of Deaner. Here goes.

Regular readers will recall that Deaner was made bankrupt in the sum of pounds 550,000 last month. Having at one point been worth more than pounds 70m, this must have come as something of a shock.

But not as much of a shock as it was to two schools based in Berkshire. Apparently, both Bradfield College and St Andrew's Preparatory School had been promised generous donations by Deaner, running - it is said - into millions. Now, due to the bankruptcy, these will not be possible.

Bradfield said: 'What do you want to know about Martin Deaner?'

'Er . . . about his donations to your school,' said Bunhill.

'No comment,' was the reply, and the line went dead.

But St Andrew's was a little more forthcoming. A spokesperson said: 'He has been a very generous benefactor.'

'Yes, yes,' said Bunhill, 'But what of present donations?'

'Well, actually, he has let us down rather badly. He has forced the school to fulfil his own promises. He made promises that he couldn't fulfil.'

Bunhill remarked further: 'I don't think he'll be able to fulfil them either, because as you know he's been made bankrupt.'

'Oh no. We didn't know that. Oh dear.'

Now if only they had read last week's column.