Guy Naggar and Peter Klimt, whose Dawnay Day property investment business collapsed during the credit crunch leaving creditors out of pocket, have bagged a windfall of nearly £44m.
The pair are shareholders in Castle Support Services, the holding company for Dowding & Mills, an electro-mechanical maintenance firm. It agreed to a £127m takeover bid last week, reports the Sunday Times.
Klimt holds 18% of the firm, which means he stands to receive £23.5m while Naggar has a 16% stake, putting him in line for £20.5m.
Dawnay Day, with a value once estimated at £2bn, was one of the biggest casualties of the credit crunch.
Success helped Naggar and Klimt enjoy their passion for the finer things in life, including yachts to entertain clients and an art collection including works by Damien Hirst, according to the Sunday Times.
However, the bulk of their assets was seized by administrators in 2008.
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