A report also said that recently, some creditors had been considering legal action against Devonport to recover their debts, prompting the decision to place it into administration in February 2025.
MailOnline reports futher Mr Kingston and his business partner Paul Bailey had also been struggling to repay their own creditors after two major companies defaulted on loans.
Two major borrowers were defaulting on combined debts of $64m – or around £48m.
Devonport Capital Ltd was launched in 2015 to provide finance in ‘high-risk’ areas, including Iraq. Among the company’s creditors are a gold mine in Ghana, which owed $18.3m (£13.7m), and an American-based renewable energy firm with debts of $46m (£34.57m).
The Mail quotes Michael Goldstein and Avmer Radomskiy of RG Insolvency in saying: “Whilst the company was undoubtedly successful, the environment in which it operated meant that inevitably there were bad debts suffered along the way.
“Over time, the interest compounding on amounts outstanding to lenders when the company’s borrowers failed to repay became increasingly challenging to manage.”
News of the company’s debts comes after Lady Gabriella warned of the dangers of mental health drugs at Thomas’ inquest in December.
The inquest was told Mr Kingston had initially been given sertraline, a drug used to treat anxiety and depression, and zopiclone, a sleeping tablet by a GP.
In a statement read out by Katy Skerrett, senior coroner for Gloucestershire, she said, “I believe anyone taking pills such as these needs to be more aware of the side effects to prevent future debts. If this could happen to Tom, this could happen to anyone.”
At the inquest into Thomas’s death, it emerged that he had struggled with anxiety and had been taking selective serotonin reuptake inhibitors (SSRIs) as anti-depressants – but had stopped taking them.
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