Wife of former Northampton Town chairman given June 2 to pay borough council £418,709 or sell and leave home
Borough council gives wife two months to pay money
The wife of the former chairman of Northampton Town Football Club must pay Northampton Borough Council £418,709 by June 2 or leave her home and put it up for sale.
The borough council has applied for and obtained an order for the sale of the family home of David and Christina Cardoza.
The order was disclosed in a report to the council’s cabinet which met last night (March 24)for the final time ahead of the start of the new authority on Thursday (April 1).
The purpose of the report was ‘to provide cabinet with a high-level update on enforcement activities to recover the lost loan monies, covering all streams of activity by the council and other involved through insolvency processes.’
The report background stated in July 2018, the High Court found that both Anthony and David Cardoza were in breach of their fiduciary duties as directors of Northampton Town FC.
Between them they were liable to pay the council £2.79m, subject to amounts shown to have been repaid, and costs relating to the works that David Cardoza had undertaken to his then house. The council was also awarded legal costs relating to the litigation.
The report gave an update on the Cardoza litigation situation.
It stated: “Following the judgement, NBC’s solicitors as part of a tracing claim against a company owned by connected parties identified to properties parties identified two properties owned by the company to recover monies as part of the council’s enforcement strategy.
“Of the two properties, one has been sold and the council has received £131,590.16 (October 2020). A second property has been on sale and completion is imminent. The expected recovery from that sale is £280,000 making a recovery of just over £400,000.
“Pursuant to the High Court judgement, NBC was granted a final charging oder in respect of the family home of David and Christina Cardoza. This charge attached to their current family home.
‘”Since the judgement, NBC has applied for and obtained an order for the sale of the Cardoza’s family home. This means that the property must be put for sale for a value not less than £650,000 unless prior to that date, Mrs Cardoza makes payment of the following sums to NBC,” the report stated.
The report listed:
£365,975.97 (being the amount secured pursuant to the final charging order
-NBC’s costs of £15,677 and
Interest accruing at the rate of £80.21 per day from 29 November 2019 which presently stands at £37,057.02 (as at the date of this note).
“The total sum which Mrs Cardoza must pay to NBC at around the time this report was prepared is circa £418,709.99,” the report said.
“As stated, unless Mrs Cardoza pays this sum(plus additional accrued interest) to West Northamptonshire Council as the successor authority by 4pm on 2 June 2021 unless it is agreed otherwise, the council will require the house to be vacated and put up for sale.”
The report stated Anthony Cardoza was delcared bankrupt on April 9, 2019. It stated: “Following this FRP Advisory LLP was appointed as Anthony Cardoza’s trustee in bankruptcy.(TIB).
“The TIB has the power to review and unwind “reviewable transactions” with the aim of collecting assets for the benefit of Anthony Cardoza’s creditors as a whole. It would appear, as matters currently stand, that NBC is the only creditor which has come forward,” the report added.