MARK Fry has admitted he is satisfied that Michael Fialka DOES have the money to complete a takeover.
The administrator said he had seen the Echo’s exclusive story yesterday regarding Fialka’s background and his companies’ financial positions.
“I have seen stories myself and clearly they are very a cursory look into the background of the individual concerned,” he said.
“As far as I am aware that individual is from a substantially wealthy family.
“There are other people surrounding that individual that are also involved in the Pinnacle Group.
“It is referred to as the group because that’s what it is.

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