Bashar Bin Mahmood, known as Bashar Al-Issa, tried to claim damages against Big Four firm KPMG for professional negligence and misconduct between May 2008 to November 2010, but the claim has been struck out, with the judge describing it as ‘totally without merit’.

A spokesperson for KPMG said: ‘We have always maintained that these claims are entirely without merit, and have taken the appropriate action to defend the case and avoid further wasted costs and time.’

Mahmood, 42, claimed administrators from KPMG undervalued a number of development properties, including a half built apartment building called Issa Quay in Manchester, which were owned by various insolvent companies Mahmood was involved with.