Gary Ronald Forrest was the chairman of High Street Group, a Newcastle-based company founded in 2006 that operates in the private rental, property development, construction, and hospitality sectors. Despite supposedly being valued at 1bn, the company went into administration, leaving over 1,500 investors potentially destitute. As a result, Forrest is currently the subject of a bankruptcy petition for £37million. Interestingly, this isn't the first time he's faced financial difficulties, having been made bankrupt in 2009.
Apart from his business dealings, Forrest and his family lead a luxurious lifestyle. They currently reside in a detached five-bedroom house in Newcastle, purchased in 2017, which is described on Rightmove as a Grade II Listed Farm House dating back to the 1800s. In addition to the house, they also have horse stables and a 1.3-acre paddock for grazing.
In his free time, Forrest manages West Auckland football club and works out at his MTK boxing gym in Newcastle.
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Forrest and Steven Knight share a relatively close business relationship. Knight is the Chairman of Castle Trust and Management Services, a company that provides security trustee services.
Interestingly, Castle Fund Administrators Limited, a subsidiary of Castle Group, acted as the listing member for All Saints Asset Management PLC. One of Forrest's companies, on the Gibraltar Stock Exchange.
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Bankruptcy Order- Petition filed on 10 December 2008 – Bankruptcy order date 27 August 2009- Type of petition- Creditor’s.
Update-June 2023- Due to a technicality with the bankruptcy petition, and allegations of a dispute- the petition was dismissed.
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