An insolvency judge has finally put the ill-fated, poorly-conceived and badly managed London Resorts project out of its misery. The Kent-based theme park dream is dead – beaten by a tiny endangered spider, piled up debts and a plan that just ran headlong into problem after problem.

It was not a good ending in the High Court which ruled that London Resort Company Holdings committed at least three “serious and irremediable” breaches over an agreement signed last year to repay its multiple creditors.

The case was brought to hearing by production company Paramount, which claimed the company has attempted to circumnavigate a Company Voluntary Arrangement by disposing of assets prior to declaring insolvency.

“LRCH had proposed a CVA based on a debt equity swap,” reported Kent Online. “The debts owed to unsecured creditors would be cancelled and replaced by shares in the company, according to details of the judgment published last week.”

“The arrangement was approved, despite the opposition of Paramount and other creditors who believe the prospect of any financial return is highly remote. ”

It’s scant comfort anyway; with an estimated £100m owed in total, Judge Sally Barber noted that   London Resort Company had ceased trading and “appears unlikely ever to do so again”.