Sam Alder, who as part of EG managed Robert Fripp and King Crimson until 1991, has been declared bankrupt following a case brought by Lloyds TSB to recover unpaid debt of £2.6m. In passing judgement His Worship the High Bailiff, John Needham, noted of Alder, "I found that the Defendant's well-mannered exterior was accompanied by a steely determination, shown by the degree to which the Defendant has fought this case up to this point, to make things difficult for the Claimant. I am of the view that every move the Defendant has made in these proceedings has been carefully measured by him. The timings of applications, the making of last minute offers, the lack of early disclosure, the lack of payment of anything and the admission of last minute evidence only when the alternative was likely to be an immediate order in bankruptcy, portray a person who is not as straightforward as one could hope for."
The full judgment can be read here and there's a general outline of the case here. Alder has more legal issues facing him, charges of money laundering, which you can read about here.
Robert Fripp's long-running battle with Alder and Fenwick, known in music industry circles as Endless Grief, is described by the guitarist as "the worst professional situation of my life." For more background the following diary entries by Robert Fripp are especially illuminating.
14th September 1999 and 27th June 2012
