As Tory treasurer, Lord Beaverbrook was responsible for raising millions for the party.
But now he finds himself in a furious High Court battle over a property deal gone wrong.
However, the colourful peer, who helped John Major win the 1992 general election by cajoling his rich pals into coughing up £38 million, is determined to ‘fight his corner’.
‘Someone wants me to underwrite an investment on a property deal.
‘They and I invested in it and they want me to underwrite their loss, which I am not going to do,’ he tells me defiantly.
As Tory treasurer, Lord Beaverbrook was responsible for raising millions for the party. But now he finds himself in a furious High Court battle over a property deal gone wrong
Beaverbrook, 69, whose family name is Maxwell Aitken, has filed an application in the bankruptcy division to set aside a statutory demand, which is often a first step towards filing a bankruptcy claim.
A statutory demand states that if an individual doesn’t pay his debt or come to another arrangement acceptable to the creditor within 21 days, the creditor can start court proceedings to make the individual bankrupt.
The deal in question is said to involve residential property on the fringes of London.
Beaverbrook says, somewhat nonchalantly: ‘The sum is less than £100,000, so not huge in the scheme of things, but I am not going to be put upon like this.
‘I am going to fight my corner — simple as that. But I will abide by the court’s decision.’
If his application to set aside the statutory demand is thrown out by the High Court in London, his creditor can immediately apply to have him made bankrupt.
The peer’s newspaper tycoon grandfather, the 1st Lord Beaverbrook, was appointed by Churchill to oversee aircraft production during World War II.
The current baron enjoys living dangerously and is a former director of the British Racing Drivers’ Club and vice-president of the British Powerboat Racing Club.
Animal smackers! A kiss, and Yasmin is smitten
Here’s something this elephant will never forget!
Yasmin Le Bon, 56, was so enchanted by the model animals on display at the Elephant Family charity gala that she planted a kiss on one of them.
The wife of Duran Duran star Simon Le Bon was joined by daughter and fellow model Amber (above left), 31, at the animal conservation fundraiser at Lancaster House, London.
Here’s something this elephant will never forget! Yasmin Le Bon, 56, was so enchanted by the model animals on display at the Elephant Family charity gala that she planted a kiss on one of them
Prince Charles and the Duchess of Cornwall attended the event for the charity, which was founded by Camilla’s late brother, Mark Shand.
The Only Way Is Essex star Gemma Collins was also there. ‘I’ve gone from reality to royalty,’ she tells me. ‘I get invited to a lot of these things, but I only go if it’s something I believe in.’
Making a trunk call of their own, the organisers brought in colourful Sotheby’s boss Lord Dalmeny, 53, as auctioneer to raise money for the charity.
Gandy’s grand design is fine and dandy
Top model David Gandy set hearts aflutter when he starred in a Dolce & Gabbana advert wearing nothing but tight white pants.
Now his girlfriend, criminal barrister Stephanie Mendoros, has proved just as alluring — though in a different way.
The 35-year-old has persuaded councillors to let her and Gandy, 41, redevelop a historic property at the gates of London’s Richmond Park into a ‘forever home’.
Top model David Gandy set hearts aflutter when he starred in a Dolce & Gabbana advert wearing nothing but tight white pants. Now his girlfriend, criminal barrister Stephanie Mendoros, has proved just as alluring — though in a different way
The couple — who have a two-year-old daughter, Matilda — bought the house for £4.4 million last November. But officials objected to their application for a two-storey extension.
Smooth-talking Stephanie has since convinced councillors to approve it.
The house was built in 1927 for U.S. film director Edwin Middleton.
The 35-year-old has persuaded councillors to let her and Gandy, 41, redevelop a historic property at the gates of London’s Richmond Park into a ‘forever home’
Making dough is child’s play for master Oliver
Buddy Oliver is only ten, but his father is already cooking up plans to make a fortune with him.
Jamie’s business is seeking to own the legal rights to the phrase ‘Cook With Buddy’. Jamie Oliver Enterprises Ltd has applied to the Intellectual Property Office to trademark the term for everything from recipe books and TV shows to tablecloths and paper napkins.
Oliver has been posting videos on social media of Buddy whipping up mushroom omelettes, demonstrating how to make burgers on a barbecue and showcasing his dad’s recipes.
Buddy Oliver is only ten, but his father is already cooking up plans to make a fortune with him
The statue of Princess Diana by Ian Rank-Broadley that her sons recently unveiled at Kensington Palace was widely panned, so perhaps the Royal Family should have commissioned a sculptor closer to home?
David Williams-Ellis — stepfather of Princess Beatrice’s husband, Edo — is celebrating his latest work being selected for a prestigious exhibition.
The sculpture of Alan Turing, who helped crack the Germans’ Enigma code during World War II, will be at the annual exhibition of the Society of Portrait Sculptors.
Williams-Ellis says he is ‘thrilled’.
It won’t be Jesus’s last supper as Le Caprice charmer joins Team Forte
In the highly competitive world of fine dining, this is like England star Harry Kane being poached from Spurs.
Hotelier Sir Rocco Forte tells me he’s signed up Jesus Adorno, the legendary maitre d’ of Le Caprice, where Princess Diana, Sir Mick Jagger and Jeffrey Archer were regular diners.
Hotelier Sir Rocco Forte tells me he’s signed up Jesus Adorno, the legendary maitre d’ of Le Caprice, where Princess Diana, Sir Mick Jagger and Jeffrey Archer were regular diners
Adorno, who was at the Caprice for 39 years until the West End restaurant’s closure last November, will perform the same role at Charlie’s, Forte’s dining room at five-star Brown’s Hotel in Mayfair.
‘He’s a great restaurant man, so to have him join us is quite something,’ Sir Rocco purrs. ‘He can add some pizazz.’
Adorno says: ‘It was heartbreaking to leave Le Caprice. But I had about 900 emails and texts from people who said: ‘Wherever you go, we’ll follow you.”
When the Queen finally met Boris Johnson at Buckingham Palace three weeks ago for the first time in 15 months, video footage was released of Her Majesty telling the Prime Minister she had just seen ‘poor man’ Matt Hancock and he was ‘full of . . .’ Boris interrupted her to say ‘beans’.
Hancock resigned as Health Secretary a few days later after his affair with an aide was exposed.
Wisely, perhaps, the Queen has now returned to holding her monthly meetings with Boris at a great distance.
A royal source tells me her ‘audience on Wednesday took place by phone as it was mutually convenient’.
ITV News anchorman Tom Bradby’s picture-postcard village is turning the cameras on unwelcome visitors.
His local parish council has resorted to installing CCTV after a spate of burglaries, including ten break-ins in one night.
Fellow resident and former Hampshire County Council deputy leader Michael Woodall says: ‘We have had a whole run of break-ins here. Some people have their own surveillance cameras now.’
Tom lives in the village with his jeweller wife, Claudia, and their three children.