"As a consequence all fee income ceased and therefore WH Sports Group had no other income and no reason or means to continue to trade.
"On advice, the company was therefore liquidated on April 22, 2009 having received no further income since October 2007.
"The only material creditor was HMRC (Inland Revenue).
"Through my professional advisers the amount liable to HMRC is being discussed and agreed and will be discharged by me personally.
"The innuendo of a failed business is not only misleading but bears no relation to the circumstances surrounding either the company's original reason for existing or its reasons for being liquidated."