Television property guru Sarah Beeny stands to lose millions from the collapse of her online estate agency.
Two years ago Tepilo was valued at over £100m, following its takeover of rival Emoov.
But Tepilo, of which Beeny is a major shareholder, having taken earnings in equity rather than cash, has been hit hard by the collapse of Emoov, and is owed £8.7m as part of an “intercompany loan”.