Gutteridge loses asset freeze fight

SPORTS magazine publisher Graham Gutteridge lost a High Court battle to unlock up to £1.25m of his assets and was left with an £18,000 bill for costs.

Ousted as executive chairman of Aim-listed Non League Media, Gutteridge is accused of using £272,000 of company cash to help his wife buy a £500,000 house in west London.

Venture capitalists Bracken Partners, who invested in one of Gutteridge's sports management companies, obtained an injunction freezing his assets.

After a two-day hearing, Mr Justice Burnton said the case justified the order until the trial could begin. The judge said it was a 'strong case of a serious want of probity' on the part of Gutteridge.